Sensex sprints 1,335 points, Nifty tops 18,050; HDFC twins jump up to 10%

CLOSING BELL: Besides, Kotak Bank, HUL, IndusInd Bank, Tata Steel, L&T, and Sun Pharma were the other top gainers

11:18 AM

Merger deal may help HDFC, HDFC Bank hit record highs, 15% upside likely

Shares of HDFC and HDFC Bank zoomed sharply in intra-day deals on Monday after the boards announced the merger of the two behemoths. HDFC hit the 15 per cent upper circuit, while HDFC bank surged as much as 13 per cent. READ MORE HERE

11:10 AM

HDFC-HDFC Bank merger: Samir Bahl, CEO, Investment Banking at Anand Rathi Advisors

<< This is India's largest and most transformational mergers in the Indian financial services sector.

<< With this, HDFC Bank gets an unparalleled advantage through the mortgage portfolio, providing it a quantum leap in distribution to semi urban and rural areas with a huge opportunity to cross sell bank products to a very very sticky client base.

<< The combined entity will be able to extract substantial synergy benefits which abode well for all stakeholders and shareholder. 

11:08 AM

SML Isuzu surges 18% on product price hikes; healthy March sales

The company has decided to increase prices of its products (across all models - trucks & buses) by 3-4 per cent, effective from today i.e. April 4, 2022. READ MORE HERE

10:54 AM

HDFC group stocks in fast lane on merger announcement

10:53 AM

Indian Oil, L&T and Renew to form JV to develop green hydrogen business

The three companies Indian Oil, L&T and Renew will hold equal stakes in the proposed JV which will develop green hydrogen assets in India. READ MORE HERE

10:46 AM

HDFC Bank to merge with mortgage lender HDFC Ltd; companies' shares jump

Shareholders of HDFC Ltd will receive 42 shares of the bank for 25 shares held. Existing shareholders of HDFC Ltd will own 41 per cent of HDFC Bank. READ MORE HERE

10:39 AM

HDFC twins beat TCS m-cap

>> As of 10:36 AM; HDFC twins commanded m-cap of 14,45,258 cr

>> Market value of Tata Consultancy Services (TCS) stands at 13,79,809 cr

10:38 AM

NEWS ALERT: India manufacturing PMI for March at 54 vs 54.9 last month

10:34 AM

Vedant Fashions hits record high; stock surges 25% in one month

Shares of the recently listed Vedant Fashions, the owner of ethnic wear brand Manyavar, hit a record high of Rs 1,065, on rallying 7 per cent on the BSE in Monday’s intra-day trade. READ MORE

10:25 AM

HDFC-HDFC Bank seal deal: Top 5 points you should know

>> HDFC will acquire 41 per cent in HDFC Bank

>> Merger to create third-largest company in India

>> Merger ratio will be 42 shares of HDFC Bank to 25 shares of HDFC

>> Merger to enable seamless delivery of home loans

>> Merger completion expected by Q2 or Q3 of FY24

10:22 AM

Home loan lender HDFC up 15%; biggest single-day gain in 13 years

HDFC has gained the most in a single day since May 13, 2009-level. 

 

10:20 AM

Market check: HDFC Group stocks power up Nifty 50 over 18,000 levels

10:14 AM

HDFC Twins fuel Sensex over 1,500 points

10:05 AM

HDFC Bank, HDFC rally up to 10% as board approves merger

Housing Development Corporation Limited (HDFC) and HDFC Bank rallied up to 10 per cent on the BSE in Monday’s intra-day trade after their respective boards approved the merger of HDFC into HDFC Bank. READ MORE HERE

10:03 AM

Torrent Power gains after taking over distribution operations in 3 UTs