Govt to initiate PSBs’ consolidation process after Q1 results

The finance ministry is expected to initiate the process of consolidation of public sector banks (PSBs) once the first quarter results of the current fiscal have been announced, a senior official has said. There are various things including financial performance which have to be looked at before a merger decision is taken, said the official… Continue reading Govt to initiate PSBs’ consolidation process after Q1 results

LIVE: Markets slip in red; Nifty below 9900; BSE Smallcap hits new high

Taking lead from Asian markets scaling near-decade peak, the benchmark indices opened higher on Thursday with investors keeping a close eye on the June quarter results of index heavyweights Reliance Industries and Wipro, while the market reaction to cabinet’s approval to ONGC-HPCL was also hogging the limelight. Meanwhile, the Bank of Japan maintained status quo… Continue reading LIVE: Markets slip in red; Nifty below 9900; BSE Smallcap hits new high

It’s official: Idea, Vodafone are merging to create India’s biggest telco

In a BSE filing, Idea Celluar announced its approval of amalgamation of Vodafone India Ltd (VIL) and its wholly owned subsidiary Vodafone Mobile Services Limited (VMSL) with the company subject to receipt of necessary approvals of shareholders, creditors, SEBI, RBI and other governmental authorities. Idea Cellular gained nearly 15% in first 5 minutes of the… Continue reading It’s official: Idea, Vodafone are merging to create India’s biggest telco