27-04-23 News Updates - 27 April 2023

27-04-23 News Updates

1. Bourses give nod for transfer of NCDs from HDFC Ltd to HDFC Bank: HDFC Ltd has received approval from both BSE and NSE for the transfer of NCDs to HDFC Bank as part of the amalgamation process. Once the deal is effective, HDFC Bank will be fully owned by public shareholders, and existing shareholders of HDFC will own 41 per cent of the bank. 2. Maruti lost 1.7 lakh production units in FY23 due to chip shortage, says RC Bhargava: Maruti Suzuki's Chairman RC Bhargava revealed on Wednesday that the company faced multiple challenges in the past year, including a chip shortage that caused a production loss of 1,70,000 units in the fiscal year 2022-23. 3. Union Bank of India announces fundraising plan of ₹10,100 crores via equity offers, AT1 bonds: Union Bank of India plans to raise up to ₹10,100 crore through public issues and bonds. The bank's capital plan should not exceed ₹10,100 crore, of which around ₹8,000 crore will be raised through public offers including FPOs, rights issues, or private placements. The remaining amount will be raised through bonds. Equity capital raising is subject to approval from the government, regulatory authorities, and shareholders. Following the announcement, the stock rose nearly 2% on BSE. 4. Starbucks will fetch the next ₹1k cr faster: Tata Consumer: Tata Consumer Products sets its sights on expanding its packaged foods and beverages business after Bisleri acquisition talks fall through. The company plans to expand its portfolio with Tata Copper+ Water and integrate products with Tata Group-owned airlines. It also aims to double the turnover of Starbucks over the next few years. 5. Hinduja Group firm emerges highest bidder with Rs 9,650 cr offer for Reliance Capital in second auction: IndusInd International Holdings Ltd (IIHL), a Hinduja Group company, has reportedly emerged as the highest bidder in the second round of the auction for debt-ridden Reliance Capital. IIHL has offered Rs 9,650 crore, which is higher than the Rs 8,640 crore offer made by Torrent Investments in the first round of the auction. Reliance Capital is undergoing insolvency proceedings, and its assets are being auctioned to repay its creditors.