Share Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic stock markets have started the week on a positive note with Sensex and Nifty gaining, helped by an up-move charted in the dying hour of Monday’s trade. S&P BSE Sensex rose 326 points or 0.62% to settle at 53,234 while the Nifty 50 index is currently at 15,835, gaining 83 points or 0.53%. India VIX slipped 1.3% and moved below 21 levels. Ahead of Tuesday’s trade, SGX Nifty was up in the green, suggesting a gap-up start for domestic indices. Global cues were positive after Wall Street equity indices zoomed ahead on Monday. Asian stock markets mirrored the up-move.
Days after receiving a green light from the stock exchanges, the merger of HDFC and HDFC Bank has now received approval from the Reserve Bank of India (RBI). Now, HDFC and HDFC Bank await a nod from CCI and NCLT. Once all approvals are in place, HDFC Bank will become a 100% publicly owned institution, with HDFC’s 21% promoter holding getting extinguished. The merger would be the largest in Indian corporate history, creating a financial behemoth with a $169-billion market capitalisation (the second-largest in India) and will be among the 10 most valued banks in the world. Shareholders of HDFC will receive 42 shares of HDFC Bank for 25 shares of HDFC.
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