LIC increases its stake in HDFC to more than 5%
By MYBRANDBOOK
Life Insurance Corporation of India (LIC) has purchased 1.2 lakh shares from the open market, increasing its stake to 5.003 percent in HDFC Ltd. Before the acquisition, LIC held over 9.09 crore shares representing 4.991 per cent stake in the company.
LIC said the holding increased from 4.991 percent to 5.003 percent, an increase of 0.012 percent at an average cost of Rs 2,673.84 per unit. LIC purchased additional shares at a total cost of about Rs 57.2 crore.
Earlier in April, HDFC Ltd decided to merge with its banking subsidiary HDFC Bank. HDFC Bank agreed to take over the biggest domestic mortgage lender in a deal valued at about $40 billion. The proposed entity will have a combined asset base of around Rs 18 lakh crore.
Once the deal is effective, HDFC Bank will be 100 percent owned by public shareholders, and existing shareholders of HDFC will own 41 percent of the bank. The merger is expected to be completed by the second or third quarter of FY24.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Icons Of India Arundhati Bhattacharya
GLOBUS INFOCOM LTD.
BEETEL TELETECH LTD.
BPE INDIA PVT. LTD.
Icons Of India : NEERAJ MITTAL
He started his career as an IAS Officer in 1992. He has held various a...
Icons Of India : RAJENDRA SINGH PAWAR
Rajendra Singh Pawar is the Executive Chairman and Co-Founder of NIIT ...
Icons Of India : ASHISH KUMAR CHAUHAN
Ashish kumar Chauhan, an Indian business executive and administrator, ...
UIDAI - Unique Identification Authority of India
UIDAI and the Aadhaar system represent a significant milestone in Indi...
IOCL - Indian Oil Corporation Ltd.
IOCL is India’s largest oil refining and marketing company ...
BEL - Bharat Electronics Limited
BEL is an Indian Government-owned aerospace and defence electronics co...
Indian Tech Talent Excelling The Tech World - Dheeraj Pandey, CEO, DevRev
Dheeraj Pandey, Co-founder and CEO at DevRev , has a remarkable journe...
Indian Tech Talent Excelling The Tech World - Thomas Kurian, CEO- Google Cloud
Thomas Kurian, the CEO of Google Cloud, has been instrumental in expan...
Indian Tech Talent Excelling The Tech World - RAVI KUMAR S, CEO- Cognizant
Ravi Kumar S, appointed as CEO of Cognizant in January 2023, sets the ...