The recent news in the business world has been buzzing with significant developments in various sectors. Let’s take a closer look at some of the key updates:
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ITC Hotels Demerger: ITC Hotels Ltd. is set to be demerged from ITC Ltd., with the record date for the company for demerger and the ex-date for the shares of ITC set at January 6. This restructuring will see ITC retain a 40% stake in its hotel business, with the remaining 60% directly held by shareholders through a rights entitlement.
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HUL’s Acquisition: Hindustan Unilever Ltd (HUL) is in talks to acquire the direct-to-consumer brand Minimalist for around ₹3,000 crore, aiming to expand its portfolio and reach new age consumers.
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Crystal Crop Protection’s Acquisition: Crystal Crop Protection has acquired the herbicide active ingredient Ethoxysulfuron from Bayer AG, a move expected to boost its earnings by 20%. This acquisition includes Bayer’s ‘Sunrice’ trademark and related products.
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HDFC Bank’s Stake Acquisition: The Reserve Bank of India has granted approval to HDFC Bank to acquire up to a 9.50% stake in AU Small Finance Bank within a year. Failure to do so may result in the revocation of the approval.
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Kotak Mahindra Bank’s Resignation: Milind Nagnur, the COO and CTO of Kotak Mahindra Bank, has tendered his resignation due to personal reasons, effective from February 15, 2025.
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Tata Elxsi Incident: A minor fire incident occurred at Tata Elxsi’s premises in Trivandrum, but it was swiftly brought under control with no substantial loss or injuries reported.
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NTPC Renewable Energy’s Project: NTPC Renewable Energy Ltd has secured a 1,000-MW solar power project from Uttar Pradesh Power Corporation Ltd at a tariff of Rs 2.56/kWh.
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CCI’s Dismissal of Allegations: CCI has dismissed allegations of abuse of dominance against Coal India related to its e-auction scheme, stating that the state-owned company had not violated norms.
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HDFC Bank’s Loan Growth: HDFC Bank registered a 3% increase in loan growth at Rs 25.42 lakh crore in the December quarter, with total advances of Rs 24.69 lakh crore.
- IDBI Bank’s Credit Growth: IDBI Bank posted a credit growth of 18% at Rs 2.06 lakh crore during the December quarter, with total advances of Rs 1.75 lakh crore.
These developments highlight the dynamic nature of the business world and the strategic moves being made by various companies to drive growth and expansion. Stay tuned for more updates on the evolving business landscape.
