Table of Contents
1. Sony-Zee merger expected to get completed by end of H1 FY24
Sony Corp CEO Sony Corporation’s CEO has announced that the much-anticipated merger between Sony and Zee Entertainment Enterprises Ltd (ZEEL) is expected to be completed by the end of the first half of the financial year 2023-24. The merger aims to create a formidable entity in the Indian media and entertainment industry, combining Sony’s global presence with Zee’s extensive reach in India. The completion of this merger could potentially reshape the landscape of the Indian entertainment industry.
2. Fortis Healthcare to divest Vadapalani Hospital business for ₹152 crores
Fortis Healthcare, one of India’s leading healthcare providers, has decided to divest its Vadapalani Hospital business for a total consideration of ₹152 crores. The move is part of Fortis Healthcare’s ongoing strategy to optimise its portfolio and focus on core operations. The divestment of the Vadapalani Hospital business will enable Fortis to streamline its operations and allocate resources more efficiently.
3. HDFC warrants to list under HDFC Bank
HDFC Ltd, a prominent Indian financial services company, has announced that its warrants will now be listed under HDFC Bank. This move aims to consolidate the financial services offerings of HDFC Group and further strengthen the synergies between HDFC Ltd and HDFC Bank. The listing of HDFC warrants under HDFC Bank is expected to enhance liquidity and provide investors with greater flexibility in their investment decisions.
4. Intel India head Nivruti Rai quits after completing 29 years
Nivruti Rai, the Country Head of Intel India and Vice President of the Data Platforms Group at Intel Corporation has resigned from her position after serving the company for 29 years. During her tenure, Rai played a pivotal role in driving Intel’s growth and innovation in India, contributing significantly to the development of the country’s technology ecosystem. Her departure marks a significant transition for Intel India and raises curiosity about future leadership in the company.
5. VLCC to acquire men’s grooming brand Ustraa
VLCC, a well-known beauty and wellness brand, has announced its acquisition of Ustraa, a popular men’s grooming brand in India. This strategic move by VLCC aims to expand its product portfolio and tap into the growing men’s grooming market in the country. Ustraa’s expertise in offering high-quality grooming products for men combined with VLCC’s established presence in the beauty and wellness industry is expected to create new opportunities and synergies in the market.
