Top Stories Politics Business Economy Technology Health World Science Entertainment

News stories about "entity" in India.

Posted on: 01 Apr, 05:56 PM

Juspay spins off mobility platform Namma Yatri into new entity

Moving Tech Innovations Ltd, a Juspay spin-off, focuses on cost-effective solutions in the ride-hailing industry. Led by Shan M S and Magizhan Selvan, the new entity seeks funding, aims for profitability, and competes with major players like Uber and Ola. Key Points

Viacom18 and Star India merger talks in advanced stage

Reliance could hold more than 51% of the shareholding in the proposed Star-Viacom18 merged entity, with Disney owning a 40% stake, one of the people said. Uday Shankar and James Murdoch-promoted Bodhi Tree Systems' stake in the merged entity could be 7-9%.Another person said Reliance is anticipated to inject additional capital in the merged entity, establishing it as a direct subsidiary. Key Points

FII holding in HDFC Bank drops further in Q2, investment headroom increases by 170 bps

“More selling by FIIs is needed in the next few quarters before MSCI incorporates the merged entity shares with a factor of one, compared to the 0.5 currently used,” said Abhilash Pagaria, Head - Nuvama Alternative & Quantitative Research. Key Points

Reliance, Disney may announce Star-Viacom18 merger this week

Reliance Industries and Walt Disney have signed a binding agreement to merge Viacom18 and Star India, creating India's largest media empire. The deal is expected to be announced this week, spanning TV broadcasting, streaming, movies, and sports. Reliance will own 61% of the combined company, with Uday Shankar as the leader. Key Points

Texmaco to raise Rs150 cr through preferential issue

Kolkata, Feb 28 (PTI) Texmaco Rail & Engineering Ltd announced that its board of directors has approved the raising of Rs 150 crore fund from the promoter group and a non-promoter entity. The fund will be raised through a preferential issue of convertible warrants to group companies, subject to approval, it said. The company will […] Key Points

Tata Motors demerger: CV unit will exit Sensex, Nifty just like Jio Financial

The demerger of Tata Motors into separate listed entities for commercial vehicles (CV) and passenger vehicles (PV) will result in the exclusion of the smaller stock (CV unit) from Sensex and Nifty. Global indices like MSCI and FTSE will evaluate the market cap of the smaller entity to determine its eligibility for passive indices. Key Points

Reliance comments on potential merger deal with Disney, here's what it said

Reliance Industries issued a statement on stock exchanges, refusing to comment on media speculation about its reported merger deal with Disney. The clarification mentioned the company's ongoing evaluation of opportunities, stating that there is no undisclosed information requiring disclosure under SEBI regulations. The reported merger between Viacom18 and Star India under Reliance's media unit and Disney's stake is anticipated to create India's largest media empire Key Points

Daily brief: On Chandrayaan 3, Mamata Banerjee's ‘ISRO belongs to India’ jibe

Here are today’s top news, analysis, and opinion. Know all about the latest news and other news updates from Hindustan Times. | Latest News India Key Points

Hindustan Times

RIL-Disney deal: Nita Ambani may be named chairperson

Nita Ambani is likely to become the chairperson of the Star India-Viacom18 merged entity, with Uday Shankar as the vice chairperson. The merger deal is expected to be announced soon, and Reliance is set to invest $1-2 billion in the merged entity. Key Points

Sony-Zee merger talks: Sony had turned down Punit Goenka's proposal for replacement of CEO

Earlier, Sony had opposed the idea of Goenka taking over as the managing director and CEO of the merged entity, citing stock market regulator Sebi's probe against him and his father Subhash Chandra for alleged fund diversion from Zee to promoter group companies. As part of the scheme of arrangement signed in December 2021, Goenka was to be the MD and CEO of the merged entity for five years subject to and on the terms as agreed between Punit Goenka and Sony Pictures Networks India (SPNI) . Key Points

ITC's Sanjiv Puri explains why the company will hold 40% stake in ITC Hotels

ITC Ltd plans to retain a 40% stake in its demerged ITC Hotels business, which will have an asset-light model and be debt-free, according to chairman Sanjiv Puri. The new entity will raise capital as needed and benefit from synergies with ITC's foods vertical. Key Points

Demerger of hotel biz will boost capital efficiency ratios of ITC : Analysts

ITC Limited's board has given approval to demerge its hotels business into a separate entity, boosting capital efficiency and giving shareholders direct stake in the new business. Under the arrangement, ITC will retain 40% of the shares, with the remainder held directly by investors proportionate to their holdings. Key Points

Public sector job openings in Dubai: Salary, eligibility and more

Dubai government is looking to hire professionals and high-skilled individuals across sectors like Roads and Transport Authority (RTA), Dubai Academic Health Corporation, Dubai Women Establishment, Department of Finance, Mohammed bin Rashid School of Government to name a few. Most of these organisations are looking for professionals and high-skilled individuals, offering salaries between Dh10,000 to Dh50,000, depending on the nature of the roles. Key Points

Merged HDFC entity likely to get fresh $3-billion inflow from overseas passive funds

These passive funds mirror MSCI indices for their investment. For a stock to remain on an MSCI index, international investors must have a minimum headroom of 15%, with an adjustment factor of 1, to purchase the shares on the public market. Key Points

If you submitted Form 60 instead of PAN earlier, Income Tax Dept now wants you to get a PAN

Form 60 is required to be submitted in lieu of PAN if an individual does not have one but is conducting certain specific transactions like purchasing a car, etc. However income tax department will send an individual an SMS and email about updating one's PAN number to the reporting entity where Form 60 was given or apply for a PAN. Key Points

Reliance, Disney announce merger; Nita Ambani to be chairperson

India Business News: Reliance Industries, Viacom 18 Media, and Walt Disney have formed an $8.5 billion joint venture in India. Nita Ambani and Uday Shankar will lead the v Key Points

Administrator files Hinduja’s resolution plan for Reliance Capital at NCLT

In the first auction on December 21, Torrent Investments made the highest offer of Rs 8,640 crore, while the Hinduja Group entity offered Rs 8,110 crore. However, within 24 hours, the Hinduja entity gave a revised, improved offer of Rs 9,000 crore, a development contested by Torrent. Key Points

'Sony, Zee will conclude merger, won't let top job become a dealbreaker'

Abhijit Joshi, managing partner at Veritas Legal said a scheme, once approved by all the authorities, should typically proceed subject to the conditionalities as per the scheme. Typically, there is a lag between the approval from the court or tribunal and the effectiveness of the scheme. The scope of withdrawal will be limited and will depend on conditionalities to its effectiveness under the provisions of the scheme, he said. Key Points

Ebix Inc faces bankruptcy: Will its IPO-bound Indian entity, EbixCash, be affected?

Ebix Inc. is a holding company listed on the NASDAQ stock exchange. It does not have any promoter or person in control with substantial equity. Key Points

Content creators have mixed feelings about the Disney-Reliance merger

Many see the combined entity as being good for new entertainment launches despite an increased focus on sports. However, they also have reservations about the merger, saying it will reduce the number of buyers in the industry and could lead to monopolistic behaviour. Key Points

Aditya Birla Fashion shares zoom 10% on demerger news

ABFRL shares surged 10% on BSE as plans for Madura Fashion & Lifestyle's demerger into a separate entity were disclosed. The move aims to create two distinct companies for enhanced value creation opportunities in the fashion sector. Key Points

Star-Viacom18 likely to post $200 million loss on sports, streaming: Report

The Reliance Industries-Walt Disney Company deal aims to merge Viacom18 and Star India, creating a media giant with profitable entertainment, but lossmaking sports and streaming businesses. The proposed merged entity's entertainment business is projected to generate $600 million in Ebitda on $1.3 billion revenue. Key Points

If content is king, Reliance Industries-Walt Disney Company to be kingdom

The Rs 70,352 crore ($8.5 billion) merged entity, in which RIL will infuse Rs 11,500 crore, will have a viewership share of more than 40%, enabling it to secure premium advertising rates and consumer average revenue per user (ARPU), they said. The failure of Zee Entertainment Enterprises and Sony Pictures Networks India to merge is expected to benefit Star-Viacom18, which would have had to contend with a duopoly if the Sony-Zee merger had also gone through. Key Points

Promoter sells 1.8% stake in Vedanta via open market for over Rs 1,700 crore

The promoter entity sold 6,55,18,600 shares of the mining major at Rs 265.14 a share, bulk deals data showed. On Thursday, shares of Vedanta ended 4% down on the BSE at Rs 268. The sale happened at a discount of more than 5% to the previous close. Key Points

CBIC instructs officials not to send notices to companies hiring expats indiscriminately

The Central Board of Indirect Taxes & Customs (CBIC) has directed field formations to exercise discretion in issuing show cause notices related to secondment arrangements of companies hiring expatriates. This move follows indiscriminate notices sent to companies based on the Supreme Court's Northern Operating System (NOS) judgment. Key Points

Razorpay’s ‘reverse flip’ to India may entail $300 million tax payment in US

Razorpay will seek clearance from the National Company Law Tribunal (NCLT) in the next two months to merge its American holding company with its India unit. It would then also officially appoint an auditor for the valuation discussions. Key Points

Promoter entity Jamnagar Utilities likely bought 5 crore shares of Jio Financial: Report

Earlier, domestic fund house Motilal Oswal MF bought 3.72 crore shares in the NBFC in bulk deals on Friday. The transaction was done at Rs 202.8 apiece, taking the deal value to about Rs 754 crore, according to exchange data. Key Points

NSE to conduct special pre-open session in RIL on July 20 as Jio Financial gets temporary Nifty 50 ticket

Jio Financial Services will remain part of the Nifty 50 and other indices at a constant price till such time it officially gets listed on the exchanges. Once the date for listing of shares is announced, the dummy symbol created will be replaced with an actual symbol, and JFS will form part of the index for a “temporary” period. Jio Financial will be removed from all the indices after the close of trading on the 3rd day of listing at the market determined price. Key Points

JP Morgan Chase settles case with Sebi, pays Rs 22 lakh

On August 9, 2021, designated depository participant J P Morgan Chase Bank (JPMC), informed Sebi about the delay in intimating about the merger of Fidelity Investments Money Management Inc. (FIMM), a registered FPI, with its affiliate Fidelity Management & Research Company LLC (FMRC). Key Points

NCLT approves Welspun takeover of Sintex BAPL

The company was admitted to the NCLT under the Insolvency and Bankruptcy Code (IBC) in December 2020. The insolvency resolution process of Sintex BAPL had evinced interest from two bidders - JM Financial Asset Reconstruction Co Ltd and a consortium consisting of Welspun entity Propel Plastic Products Pvt Ltd and Plastauto Pvt Ltd. Key Points

SoftBank sells shares worth Rs 954 crore in Delhivery

SoftBank is the largest public stakeholder in the logistics company, holding an 18.42% stake as of December 31, 2022, through its entity SVF Doorbell (Cayman) Ltd. Key Points