Sector: Banks & FIs
Goldman Sachs Considers To Exit Partnership With Apple
Goldman Sachs Group Inc. (GS) is considering exiting its partnership with Apple Inc. (AAPL), the Wall Street Journal reported, citing sources familiar with the matter. The report stated that the bank is in talks with American Express Co. (AXP) to take over its Apple credit card and other services with Apple Inc. The iPhone-maker and … Read more
ISec proposes to delist the shares
In a surprise announcement ICICI Securities (ISec) has proposed to delist the shares. ISec was listed 5 yrs back in March 2018, when like any other IPO it was being termed as value unlocking exercise by the ICICI Bank (IBank) Post IPO, IBank’s shareholding had reduced to 79.22% which further reduced to 74.85% currently. Of … Read more
SEC Fines JPMorgan For Mistakenly Deleting 47 Mln Records
he Securities and Exchange Commission fined JPMorgan Chase of $4 million for accidently deleting about 47 million electronic records which were requested by subpoenas in several investigations. As per the SEC order against J. P. Morgan Securities LLC, the banking major’s broker-dealer unit, it was accused that the bank failed to preserve electronic records as … Read more
Piramal exiting out of Shriram Finance
After TPG selling it’s entire 2.65% stake in Shriam Finance (SF), now Piramal Enterprises is selling it’s entire 8.34% stake in the Company. Stake is being offered through block deals to the institutional investors Realisation from stake sale is estimated at Rs 4,832 cr and the floor price for the sale is fixed at Rs … Read more
HDFC divests 90% of Credila
HDFC to comply with the RBI requirements for merger with HDFC Bank has divested out of the education subsidiary, HDFC Credila Financial Services. It is selling approx 90% of Credila to a private equity consortium comprising Barings and ChrysCapital Stake is being sold for a consideration of Rs 9,060 cr valuing the business at about … Read more
HDFC Bank’s growth strategy to focus on home loans post merger with HDFC Ltd
HDFC Bank Ltd, India’s largest private lender, intends to prioritize home loans as a central part of its growth strategy after the completion of its merger with HDFC Ltd, according to two senior officials at the group. The officials told Reuters news agency that the pace of growth in home loans will broadly mirror growth … Read more
Spandana’s founder to severe all ties with the Company
In November 2021, Padmaja Gangireddy had stepped down as MD of the Company after strategic disagreement with Kedaara Capital. Since then, both Spandana and Padmaja have moved on; though Padmaja continued to be a non-executive director , is currently categorised as the promoter and owns 14.5% in the Company. Padmaja who is now completely focused … Read more