HDFC Life seeks shareholders approval to share issue to Exide Industries

2021-09-08 00:50:59

New Delhi: Ltd (HDFC Life) will seek shareholders’ approval later this month for the issuance of preference shares to in the Rs 6,687-crore deal to acquire Exide Life, according to a regulatory filing. HDFC Life has convened an extra-ordinary general meeting (EGM) of the company’s shareholders on September 29 to seek their approval for share issue, the company said in a filing on Tuesday.

Last Friday, HDFC Life announced the deal to acquire 100 per cent stake, representing

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The week that was in 10 stocks: Zen Tech zooms 53%, Bank of India bleeds

2021-09-05 14:00:20

New Delhi: Thanks to upbeat domestic data and positive global cues, bulls led a strong rally last the week on Dalal Street as the benchmark indices scaled new peaks.

BSE Sensex added more than 2,000 points, or 3.5 per cent, during the week to settle at 58,129.95 on Friday, whereas Nifty50 added over 600 points, or 3.7 per cent, to end the week at 17,323.60.

The broader indices performed in line with main indices as the BSE midcap

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Sensex ends above 58K in a first, Nifty tops 17,300; RIL jumps 4%

2021-09-03 16:08:37

NEW DELHI: Thanks to a record-breaking rally in heavyweight Reliance Industries, benchmark indices scaled fresh record highs on Friday, ending the week on a high. Reports of dovish outlook from RBI also assuaged investors.

Rally in Reliance Industries comes on the heels of its acquisition of Just Dial. The company also became the first firm to be valued at more than Rs 15 lakh crore.

The 30-share pack Sensex advanced 277.41 points or 0.48 per cent to close

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Exide Industries stock may be up for rerating after HDFC Life deal

2021-09-03 15:15:28

NEW DELHI: divesting its entire equity holding in Exide Life Insurance Company sent its share soaring on Friday.

Investec Securities says that investment in the non-related life insurance business was one of the major sticking points with investors in relation to Exide Industries.

“This issue seems to be now resolved and should lead to significant re-rating for the stock,” it said, adding that the proceeds would help Exide fund lithium-ion cell manufacturing.

The brokerage has set a target

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Exide Industries soars 14% after announcing deal with​​ HDFC Life

2021-09-03 11:01:39

New Delhi: Shares of rallied as much as 14 per cent in early trade on Friday as HDFC Life Insurance Company announced that it will acquire its life insurance business.

HDFC Life today announced acquisition of 100 per cent stake in Exide Life Insurance and its subsequent merger with HDFC Life for Rs 6,687 crore.

HDFC will issue 8,70,22,222 equity shares at an issue price of Rs 685 per share. The deal also involves cash payout of Rs

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HDFC Life in talks to acquire Exide Life at Rs 5,000 crore valuation

2021-09-03 03:08:28

HDFC Life, the country’s largest private sector insurer, is in advanced talks to take over Exide Life in a deal that will value the enterprise at ₹5,000 crore ($680 million), said people aware of the development. The company is a wholly owned subsidiary of battery maker .

The deal could mark the beginning of a fresh round of consolidation in the industry that’s seeing intense competition amid the rising dominance of digital platforms in distribution. The move also

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F&O: Nifty’s lower support shifts higher to show bulls firmly placed

2021-08-16 18:35:10

Nifty on Monday opened flat but the bulls continued to lift the sentiment and surpassed its previous lifetime high to touch a new lifetime high of 16,589. It moved in a range of 100 points during the day, but followup buying at every decline is sustaining the index at higher levels. It formed a bullish candle on daily and is forming higher highs — higher lows from the last three sessions. Now it has to hold above 16,450
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F&O: Follow-up buying lifts Nifty higher; lower VIX shows bulls in command

2021-08-12 16:55:22

Nifty50 opened positive on Thursday and moved upward into the higher territory right from its opening tick. It crossed its previous high and hit a new all-time high of 16,375 level. The index came out of its range of the previous few sessions and follow-up buying emerged at higher zones. Nifty formed a bullish candle on the daily frame and saw its highest daily close with a gain of 80 points. Now it has to hold above 16,300
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F&O: Buying on declines, flattish VIX suggest a bullish undertone

2021-08-09 17:57:47

Nifty opened positive on Monday, but failed to surpass previous day’s high of 16,336 and remained volatile in a broad trading range. In the first half of the session, the index failed to hold the 16,300 level and drifted towards 16,180, but the second half saw a recovery towards 16,250 level. The index formed a small-bodied candle with a long lower shadow, which indicates that declines are being bought into. Now, it has to hold above the 16,200
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F&O: Options show Nifty range shifts to 15,800-16,400 zone

2021-08-03 19:52:57

Nifty opened positive om Tuesday and finally surpassed its previous high of 15,962 and headed towards a new lifetime high of 16,146 level. It formed a strong bullish candle on the daily scale, as sustained buying interest was seen throughout the session.

The index finally gave a range breakout after 45 sessions and closed with decent gains of around 250 points. It has been forming higher highs and lows since the past four sessions and supports are gradually

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Exide Industries Q1 results: Co posts consolidated PAT of Rs 32 cr

2021-07-30 23:23:26

New Delhi: on Friday posted a consolidated net profit of Rs 32 crore for the quarter ended June 30. The company had reported a consolidated net loss of Rs 14 crore in the April-June period of the previous fiscal.

Revenue from operations stood at Rs 3,543 crore during the quarter as against Rs 2,526 crore in Q1 FY20, Exide Industries said in a regulatory filing.

On a standalone basis, the company posted a net profit of Rs 125

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