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The Latest Breaking News from IDBI

IDBI Bank shares crash 11% amid price concerns as Fairfax deal moves closer

IDBI Bank shares fell sharply as investors focused on Fairfax Financial Holdings’ reported Rs 81-per-share offer for a 60.72% controlling stake. The proposed Rs 53,000-crore deal and potential CSB Bank merger are key developments for investors.

The Economic Times

India’s budget math brightens with asset sales target in sight

India's fiscal position has improved significantly from earlier concerns. The government is set to exceed its asset sale target for the first time in eight years. Stronger tax collections and easing global fertilizer costs are bolstering government finances. This positive fiscal outlook contrasts with earlier revenue challenges faced by the…

The Economic Times

India to give Canada's Fairfax two years to consolidate holdings for IDBI Bank deal: Sources

Fairfax Financial may receive two years to consolidate its Indian bank holdings. This consolidation is necessary for its acquisition of a majority stake in IDBI Bank. The government and Life Insurance Corporation are finalizing this significant transaction. Fairfax currently holds a substantial stake in the smaller lender CSB Bank. The…

The Economic Times

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IDBI Bank shares jump 3% as Fairfax set to make biggest foreign investment in Indian lender, buy stake worth Rs 53,000 cr

Fairfax Holdings has been finalized for the IDBI Bank stake sale. This significant deal is expected to be worth approximately Rs 53,000 crore. The government plans to sell its stake, and LIC will also divest shares. Fairfax's offer of Rs 81 per share is higher than last year's bid. This…

The Economic Times

India nears accepting sweetened Fairfax offer for IDBI Bank

India's government is nearing acceptance of Fairfax Financial's offer for IDBI Bank. Fairfax may slightly increase its per-share bid for the Mumbai-based lender. This potential transaction represents a significant government-backed disposal of a bank stake. Final approvals are still required from the Indian cabinet and RBI.

The Economic Times

An insider’s account of how Apollo Tyres went global and the ‘graveyards’ of Indian manufacturing

From the Licence Raj to liberalisation, labour unrest to global expansion – how did an Indian tyre company rise, fall, and rise again?

Newslaundry

Economic offences are a modern threat to development of the country: Madras High Court

Observing that economic offences were a modern threat to the development of the country, the Madras High Court has refused to allow businessman ‘Aircel’ C. Sivasankaran to visit Seychelles as well as France as he was facing multiple cases that were being investigated by the Central Bureau of Investigation (CBI),…

The Hindu

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Tamil Nadu: CBI court sentences 3-year RI and fine to six accused in bank fraud of Rs.3.72cr in Chennai

A CBI court has convicted and sentenced six people to three years Rigorous Imprisonment in connection with the Rs 3.72 crore bank fraud case. Read further on Dynamite News:

Dynamite News

Top market movers: Stocks with most gains

NEW DELHI: What stocks gained the most today? How do they compare with shares of companies that have given the highest return in the past one week, one month and one year?

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