Markets opened in the green today, with NIFTY50 trading near 20,150 level as of 12:30 pm. Here are the top stories to start your day!
Zee-Sony merger faces legal hurdles
The National Company Law Tribunal (NCLT) approved the merger on 10-Aug, and dismissed the objections raised by IDBI. After IDBI, now Axis Finance has appealed to the National Company Law Appellate Tribunal (NCLAT) against the NCLT order.
Mahindra Holidays to invest ₹1,000 crore in new resorts
Club Mahindra Resorts, a brand of Mahindra Holidays, plans to invest ₹1,000 crore in building new resorts in Uttarakhand. The company has entered into an MoU with the state government to set up and operate its properties in the Himalayan region.
Kalrock-Jalan plans to take control of Jet Airways by year end
The Kalrock-Jalan consortium of investors aims to take over the bankrupt Jet Airways by the end of the year. The NCLT has approved its bid of ₹350 crore to revive the airline, which has been under insolvency since 2019.
Yatra Online IPO opens today
The ₹775 crore IPO Yatra Online, a travel and ticket booking services provider, will be open from 15 to 20 September 2023. The price band is fixed at ₹135-142 per share and lot size is 105 shares. Click here (link) to apply for this IPO on Upstox.
GMM Pfaduler to acquire Canada-based MixPro
The industrial chemicals maker is planning to acquire 100% stake in Professional Mixing Equipment Inc. (MixPro) for $7mn, which will be funded through internal accruals. The chemical mixing industry has a market size of $3bn and is expected to grow by 25%.