The Reserve Bank of India (RBI) has granted approval for the reverse merger of IDFC Ltd with its banking subsidiary, IDFC First Bank. The composite scheme involves the merger of IDFC Financial Holding Company with IDFC and then the merger of IDFC into IDFC First Bank. The scheme is subject to various approvals, including from the National Company Law Tribunal and shareholders
“The Nifty index is displaying robust momentum, poised for further upside. Immediate targets on the upside for Nifty are set at 21,700/22,000. Traders and investors are advised to view any market dip as an opportune moment to initiate long positions, aligning with the prevailing bullish sentiment.”
Despite a lower passenger load factor, IndiGo managed to maintain its market share in the quarter. PLF for IndiGo remained muted for the second consecutive month at 83.6%. But IndiGo being able to maintain domestic market share despite lower PLFs indicates better aircraft/pilot availability with it versus other airlines, brokerage ICICI Securities said.
India Business News: The Competition Commission of India (CCI) has approved the merger of IDFC Ltd with IDFC FIRST Bank. The deal is subject to certain conditions, includi