DoT may approve merger of Vodafone, Idea Cellular in the next few days

The department of telecommunications (DoT) is likely to approve the merger of Vodafone and Idea Cellular in the next few days, making the combined entity the country‚Äôs largest mobile services operator. Sources said all the wings of the DoT as well as Telecom Secretary Aruna Sundararajan had given a go-ahead to the merger. After signature… Continue reading DoT may approve merger of Vodafone, Idea Cellular in the next few days

Flipkart-Walmart deal: Bansals may be liable for 20% capital gains tax

Flipkart founders Sachin and Binny Bansal may have to pay 20 per cent capital gains tax if they sell their shares in the company as part of the proposed deal with US retail giant Walmart, say tax experts. The Indian e-commerce major is in discussions to sell majority holding to Walmart and an announcement to… Continue reading Flipkart-Walmart deal: Bansals may be liable for 20% capital gains tax

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