Putting all the notions of demonetisation impacting the GDP growth in the third quarter of FY17 to rest, the Central Statistics office in a release noted that the country’s growth domestic product for the third quarter came in at 7 per cent compared to the expectations of below 6 per cent growth.
Radhakishan Damani-promoted Avenue Supermarts, which owns retail chain major D-Mart, is making all the buzz in the grey markets as it is quoting at a premium of Rs 175-180 over the expected issue price.
Country’s third largest lender Axis Bank CEO Shikha Sharma denied any approaches for a possible merger. Contrary to the speculations in the markets, Sharma in an interview to a leading English business daily, clarified the situation. Dalal Street has been buzz of Axis Bank becoming a potential acquisition target for other private sector banks.
India’s largest commercial bank, State Bank of India (SBI) will merge its five associate banks into itself from April 1, which will the biggest consolidation exercise ever undertaken in the Indian banking industry, said in an Exchange filing.
The stocks which could witness a significant movement either side on February 27 are Mahindra CIE, Stovec, Merck, Sanofi India, Emami, ONGC and State Bank of Bikaner & Jaipur.
India's largest telecom operators, both in terms of subscriber base and market revenue share, informed the Exchanges in a filing that it has entered into a definitive agreement to acquire telecom operations-Telenor India.
The stocks which could witness significant movement on either side on February 23 are Coffee Day, Stovec, Emco, Minda Industries, Bharti Airtel and Cosmo Ferrites.
The government is finally going ahead with its much-awaited stake sale in the aerospace and defence manufacturer-Bharat Electronics Limited (BEL) at a floor price of Rs 1,498 per share. The government will divest 5 per cent of its stake, thereby moving towards its revised disinvestment target of Rs 45,500 crore.
India’s largest commercial bank State Bank of India, undertook a massive rebranding exercise of its official website, staying in sync with the changing dynamics of the banking industry in the country.
Generic pharmaceuticals company Marksans Pharma was trading up by close to 8 per cent in early trade as volume based buying resumed in the stock post UK Medicines and Healthcare Products Regulatory Agency (MHRA) not raising any observation with its Goa Unit.