In the top developments on April 4, the board of Housing Development Finance Corporation (HDFC), India's leading housing finance company, has approved the merger of the firm with HDFC Bank, the country's leading private sector bank. Meanwhile, the Competition Commission of India (CCI) said the conduct of the food aggregators Swiggy and Zomato needs investigation and has asked the deputy general to submit a report within 60 days. Also, FICCI’s Economic Outlook Survey has put forth an annual median GDP growth forecast for 2022-23 at 7.4 percent -- with a minimum and maximum growth estimate of 6.0 percent and 7.8 percent, respectively.

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BUSINESS/ECONOMY

HDFC, HDFC Bank to merge; ratio 25 HDFC shares for 42 HDFC Bank shares

The board of Housing Development Finance Corporation (HDFC), India's leading housing finance company with total assets under management of Rs 5.26 trillion and a market cap of Rs 4.44 trillion, has approved the firm's and its subsidiaries' merger with HDFC Bank, the country's leading private sector bank with a market cap of Rs 8.35 trillion. Check details

CCI orders probe into conduct of Swiggy, Zomato within 60 days

In the case of a restaurant association against Zomato and Swiggy for "anti-competitive practices", the Competition Commission of India (CCI) has said they have found merit in investigating the issue of platform neutrality. Read more

GDP growth estimated at 7.4% for 2022-23: FICCI survey

The latest FICCI’s Economic Outlook Survey has put forth an annual median GDP growth forecast for 2022-23 at 7.4 percent -- with a minimum and maximum growth estimate of 6.0 percent and 7.8 percent, respectively. Read more

MARKET

HDFC twins surge after companies announce mega merger

Housing Development Finance Corp (HDFC) and HDFC Bank shares - widely known as the HDFC twins - saw their biggest intraday gains in 13 years amid large volumes on Monday after the companies announced a merger. Read more

Investors made Rs 450 per share on this tyre stock today; do you have it in your portfolio?

MRF Ltd shares rose more than one percent on Monday amid an overall bullish sentiment in the market and days after auto manufacturers reported their monthly sales numbers. MRF shares climbed up by as much as Rs 839.7 or 1.3 percent to Rs 67,200 apiece during the session, before settling at Rs 66,810.1 for the day. Check details

Hariom Pipe Industries IPO: Issue subscribed 3.44 times on day 4

The initial public offering (IPO) of Hariom Pipe Industries was subscribed 3.44 times on the fourth day of the bidding on Monday. The public issue received bids for 2.92 crore shares as against the 85 lakh on offer, translating into a subscription of 3.44 times, according to the data available on NSE website. Read more

INDIA

Chhattisgarh tops states with lowest unemployment rate in country: Govt

Chhattisgarh ranks first in the country with the lowest unemployment rate while the country's unemployment rate stood at 7.6 percent in the same month (March), the statement said citing CMIE data. Read more

Alcohol consumption trends changing: Tequila, gin in vogue as rum and vodka take back seat

Data from industry tracker IWSR Drinks Market Analysis shows that tequila, single malt whiskey, premium gin and ready-to-drink alcoholic beverages are now in vogue among Indian alcohol consumers. The old favourites like rum and brandy and vodka are taking a back seat. Check details

Ravi Shankar to Ricky Kej: All the Indians who brought home the Grammys

From Pandit Ravi Shankar to music composer Ricky Kej, many Indian musicians have done the country proud by winning the prestigious Grammy Awards. Check details

WORLD

Imran Khan nominates ex-chief justice Gulzar Ahmed as Pak caretaker PM

Pakistan's former chief justice Gulzar Ahmed was on April 4 nominated for the office of the caretaker PM by incumbent Imran Khan, amid ongoing political crisis in the country. Read more

Sri Lankan President sacks Finance Minister Basil Rajapaksa; invites opposition to join unity Cabinet

Finance Minister Basil Rajapaksa has been replaced by Ali Sabry, who was until Sunday night the Minister of Justice. Basil was scheduled to leave for the US to meet with the International Monetary Fund (IMF) for a possible bailout package to get over the unprecedented economic crisis. Read more

Ukrainian military says some towns in Chernihiv region retaken, to reopen aids

The Ukrainian military says that its forces have retaken some towns in the Chernihiv region and that humanitarian aid is being delivered. Chernihiv is a city 80 miles north of Kyiv and it had been cut off from shipments of food and other supplies for weeks. Read more

YOU & I

How to book India Post Payments Bank doorstep banking service online; all steps here

India Post Payments Bank provides banking facilities at home with doorstep banking (DSB) services for all citizens. It charges a nominal fee if the post office is beyond 1 km from the designated doorstep. Check details

Best ways to tap 80C tax benefits: PPF vs ULIP vs ELSS

If your goal is to save taxes, then opportunities like ELSS and PPF are great. But if you want to save specifically for your retirement then ULIP is a great option that also provides tax-benefits under EEE. Here’s a comparative analysis of ELSS vs PPF vs ULIP to save taxes and generate income. Check details

View: The dos and don'ts of term insurance

Before you consider purchasing a term insurance plan, it's perhaps necessary to understand what it brings to the table. Here are some of the major benefits of term insurance. Check details

(Edited by : Priyanka Deshpande)

First Published:Apr 4, 2022 8:39 PM IST