AMALGAMATION
In 1903, 110 million tonnes of rock fell on a sleeping Canadian town in two minutes; even now, part of Frank remains buried beneath the mountain
In 1903, a massive rockslide from Turtle Mountain devastated the town of Frank, Alberta. This catastrophic event remains Canada's deadliest landslide, with many lives tragically lost. The mountain, known for its instability, continues to be monitored by geologists for future risks. Despite the disaster, life in Frank persisted, and the town eventually amalgamated with others.
Devyani International shares rally 4% after revision in Sapphire Foods merger plan
Devyani International witnessed an uptick on Thursday after the company said its merger with Sapphire Foods India remains on track, while a proposed secondary share sale involving Sapphire Foods Mauritius and Arctic International has been called off. The share-swap ratio remains unchanged, but the revised deal alters the expected post-merger promoter holding.
ET Prime Special Series: Multibagger or IBC - Part 73: The customer pays slowly. The machines depreciate slowly too
The title of this series sounds binary. The businesses rarely are. Between a multibagger and bankruptcy lies a large middle ground where companies grow, borrow, expand capacity, dilute equity, win customers, and sometimes struggle to convert accounting profit into cash.
HEG demerger: What 1:1 restructuring means for shareholders as company fixes record date?
On September 7, HEG will finalise its demerger, providing shareholders one share in the new entity for each existing share they hold. The graphite electrodes segment will transition to HEG Graphite, retaining the HEG name. Additionally, Bhilwara Energy will merge into HEG at a designated share issuance ratio, with leadership shifts commencing on September 1.
HEG demerger to take effect on September 1; record date fixed for September 7
HEG will implement its demerger from September 1, creating separate listed companies for graphite electrodes and advanced materials. September 7 is the record date, with shareholders receiving new shares in a 1:1 ratio approved under the composite scheme of arrangement.
Oriental Hotels board approves merger with Indian Hotels Company Limited (IHCL)
Oriental Hotels Limited's board approved an amalgamation scheme with The Indian Hotels Company Limited. This significant merger requires approvals from regulatory bodies and shareholders of both companies. The proposed share exchange ratio involves IHCL issuing new shares for OHL's existing equity. This strategic move aims to create synergies and simplify IHCL's operational structure. The amalgamation is expected to enhance financial resources and management expertise for OHL.
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Capitalmind Flexi Cap Fund exits Vedanta and 10 others; adds 9 stocks
Deepak Shenoy-backed Capitalmind Flexi Cap Fund exited 11 stocks, including Vedanta and Vedanta Oil and Gas, and added nine stocks, including Radico Khaitan, in July. The fund also increased exposure to 17 stocks while reducing its stake in two stocks during the month.
Samir Arora-backed Helios Mid Cap Fund hikes stake in Swiggy and 20 others, trims exposure in 2 stocks
In July, Helios Mid Cap Fund boosted its investments by increasing its stake in Swiggy among twenty other stocks. Notably, the fund expanded its holdings in V2 Retail and GMR Airports, while reducing exposure in Multi Commodity Exchange of India and Black Box stocks. Additionally, Siemens Energy India joined the portfolio as one of the seven new entries, with the fund maintaining the same exposure in thirty-eight existing companies.
Delhi’s Anand Vihar, Kashmere Gate, Sarai Kale Khan to get multi-modal transport hubs for seamless transfers between metro, rail, bus and RRTS
Delhi's Anand Vihar, Kashmere Gate, and Sarai Kale Khan are among three major transit zones proposed to become integrated multi-modal transport hubs under DDA's Master Plan Delhi 2047, aimed at making transfers between metro, rail, bus, and RRTS seamless. The plan has been approved by DDA but is yet to be notified by the central government.
Independence Day 2026: The road to UPI — India’s payments revolution was centuries in the making
India’s payments ecosystem has evolved dramatically, from hundis and merchant networks that moved value across long distances to formal banking, electronic transfers and the digital infra behind UPI. Each technological leap solved the same fundamental challenge: enabling money to travel securely and efficiently without physically moving cash from one place to another.
Delhi: Anand Vihar, Kashmere Gate, Sarai Kale Khan to become multi-modal transport hubs
Delhi's Master Plan 2047 proposes developing Multi-Modal Transport Hubs for integrated transit services. These hubs will combine metro, bus, and railway facilities at single locations. Three initial sites, including Anand Vihar-Karkardooma, will be developed as these transit centers. The plan allows for integrating non-contiguous land parcels using skywalks and subways. Intelligent transport systems will also be implemented to enhance passenger movement and traffic management.
ET Prime Special Series: Multibagger or IBC - Part 69: Can new businesses bridge the gap before EVs reshape the core?
This old auto ancillary manufacturer has integrated plants, a long operating history, and stable group ownership. FY26 brought higher revenue, more exports, and a new source of engineering income. Yet the financial mix contains a warning. Profitability in the established business fell even as its revenue increased. The newer engineering activity accounted for a large part of segment profit, while a planned EV-linked business is at a nascent stage. The question: Can diversification become repeatable operating profit rather than an occasional boost?
ProTec gets insurance licence; Irdai revamps key guidelines
ProTec General Insurance will be allowed to undertake general insurance business under the applicable regulatory framework. The four registrations granted so far in calendar 2026 include two general insurers, one health insurer and one reinsurer, Irdai said.
Brookfield-Oaktree deal, digit merger get CCI approval
The Competition Commission of India approved two significant corporate proposals on Tuesday. Brookfield Asset Management's acquisition of certain Oaktree group entities received clearance. Go Digit General Insurance's holding company will amalgamate with the insurer. This amalgamation will result in Go Digit General Insurance as the surviving entity. These decisions reflect ongoing developments in India's financial sector.
CCI clears Go Digit Infoworks merger with insurer; Fairfax entity to hold 57.28% stake
The Competition Commission of India approved Go Digit Infoworks' merger with Go Digit General Insurance. This transaction will see Go Digit Infoworks Services merge into the insurer, which remains the surviving entity. Following the merger, the Fairfax group entity will hold a majority stake in Go Digit General Insurance. Separately, the CCI also approved Brookfield Asset Management's acquisition of Oaktree Capital Group units.
ACC Q1 results: Profit falls 61% YoY to Rs 147 crore as revenue, volumes decline
ACC reported a 61% YoY decline in June-quarter profit to Rs 147 crore as lower cement volumes, weaker operating margins and planned maintenance hit earnings. Revenue also fell, though the company saw improved trade sales, higher premium product mix and continued progress on capacity expansion and its merger with Ambuja Cements.
Triveni Engineering shares adjust 38.5% as stock turns ex-demerger. What lies ahead for 95,000 shareholders
Triveni Engineering shares appeared to fall sharply after trading ex-demerger, but the decline reflected a technical price adjustment following the separation of its power transmission business rather than selling pressure.
Triveni Engineering demerger: Last day to buy stock to get Triveni Power Transmission shares. Check details
The company, which is associated with the production of sugar and ethanol along with engineering works, announced earlier this year that as part of its demerger of its power transmission business, every eligible shareholder get one share of Triveni Power Transmission for every three shares held in Triveni Engineering as on the record date.
RBI asks banks to clear old trade and payment mismatches
The RBI has asked banks to resolve long-pending mismatches between trade and payment records worth thousands of crores. Banks must verify documents and transactions to regularise genuine export-import cases. Clearing old EDPMS and IDPMS entries could improve compliance, prevent businesses from being flagged and ensure more accurate trade data.
NCLT refuses to reinstate Juliet Apparels founder Gunvant Trevadia as Director
Mumbai-based Juliet Apparels Pvt. Ltd. owns the women's innerwear brand 'Juliet'. The dispute is between two branches of the family that founded the company.
The new literary detective: Hunting AI in every sentence
AI detectors are now scrutinizing literary works, shifting focus from meaning to authorship. Readers are increasingly questioning whether texts originate from humans or algorithms. This trend reshapes literary criticism, making it resemble forensic science. Publishers are now emphasizing trust and author disclosure regarding AI use. Ultimately, the struggle inherent in human writing remains crucial for memorable literature.
Merger of banks does not shield tenant from eviction under Delhi Rent Control Act: SC
The Supreme Court ruled bank mergers do not bypass landlord consent for eviction. Punjab National Bank must vacate premises by January 2027. This decision ends a four-decade legal dispute over property rights. The court emphasized tenant obligations under the Delhi Rent Control Act. Landlord consent remains essential for any transfer of tenanted property.
Vedanta Oil and Gas shares rally 8%. What’s boosting investor sentiment today?
Vedanta Oil and Gas shares rose sharply on Thursday, outperforming its recently listed Vedanta group peers after reports that the Delhi High Court cleared the enforcement of $99 million in arbitral awards in favour of Vedanta and Ravva Oil. The development boosted investor sentiment despite the company's weaker Q1 production performance.
VMS TMT board clears AUSL merger with company
VMS TMT has announced its board has approved the merger with TMT bars maker Aditya Ultra Steel Ltd (AUSL). This strategic amalgamation aims to create a robust entity by combining manufacturing, distribution, and financial strengths. Shareholders of AUSL will receive 75 VMS TMT shares for every 100 held. The combined company anticipates a significant boost in manufacturing capacity and operational efficiencies.
Astral shares drop 6% after demerger. What should investors do?
Astral shares fell nearly 6% on Monday after the company’s board approved the demerger of its chemicals business into a newly incorporated entity, Astral Chemie. According to an exchange filing, the Composite Scheme of Arrangement also includes Astral Limited and Al-Aziz Plastics. The stock hit a low of Rs 1,389 amid the development and approval process.
PFC, REC boards approve merger scheme, share exchange ratio at 88 PFC shares for every 100 REC shares
Power Finance Corporation and REC Ltd boards have greenlit their merger, creating India's largest power financier with over Rs 11 lakh crore in loans. The approved share swap ratio is 88 PFC shares for every 100 REC shares. This consolidation aims to boost operational efficiency and bolster the balance sheet, positioning the combined entity to significantly fund India's energy transition and infrastructure growth.
DDA reduces amalgamation charges for commercial properties, to boost real estate in the capital
The Delhi Development Authority has significantly reduced amalgamation charges for commercial properties from 10% to 1% of the circle rate. This move aims to unlock Delhi's real estate potential and attract investment. Additionally, the multiplication factor for commercial property auctions has been lowered to 1.5 times the circle rate, incentivizing developers and boosting commercial development in the city.
Amalgamation of 26 Regional Rural Banks (RRBs) takes effect
The amalgamation of 26 Regional Rural Banks across 11 states and Union territories has taken effect, marking the fourth phase of RRB consolidation. This initiative, driven by the 'One State One RRB' principle, aims to strengthen RRBs, improve governance, and enhance credit flow and financial inclusion. Post-amalgamation, there will be 28 RRBs covering 700 districts, primarily serving rural areas.
Azim Premji gets MMA-Amalgamations Business Leader Award, says success in business taught him many things
The Wipro chairman said one can learn a lot from the life of Gandhi on philanthropy.
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