HDFC plans to purchase 41% stake in Credila Financial

Submitted by Anuj Gupta on Sat, 11/14/2009 - 19:21

HDFC, India’s major mortgage lender will soon purchase approximately 41% stake in the Credila Financial Services. The corporation has decided to buy stake in the privately owned company from DSP Merrill Lynch Capital Ltd.

In a proclamation, the financial major said that the acquirement of the equity stake is subject to compliance with appropriate norms.

DSP Merrill Lynch Capital Ltd holds a minority equity stake in Credila Financial Services, which is an education loan provider.

Stock of Housing Development Finance Corporation Ltd settled the day on Friday (13 Nov) at Rs 2,758.45, up 0.54 per cent on Bombay Stock Exchange (BSE).


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Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Owner of Energy giant Reliance Industries, Mukesh Ambani has put in an extra 0.68% in EIH Ltd. With this, his total stake in the hotel chain has increased to 14.8%. In a filing to the Bombay Stock Exchange, EIH said that the shares were purchased from the market on Tuesday.

Shares of Reliance surged 0.3% at Rs. 939.3 in proportion to the Mumbai market at 1.26pm, while EIH shares witnessed a 4.5% rise at Rs. 150.2.

On Monday, Reliance was quoted saying that it is widening its horizon and has procured 14.12% stake in EIH for a sum of $217.5 million.

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

On Thursday, Bajaj Auto posted a 55% increase in its sales of vehicles. In the month of August, the Company recorded sales of 3,29,364 vehicles, compared to 2,13,072 units in the same month the year before.

Last month, 2,89,176 two wheelers were sold by Bajaj Auto, a big surge than 1,82,441 units, which were sold in August 2009. The Company’s cumulative sales of two wheelers for the time frame between April and August 2010 increased by 68% and were recorded at 1,397,348 units. The number was high from 833,235 units that were retailed during the same period last year.

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