Monday, September 28
Shell denied that it was in talks to buy BP after the Wall Street Journal reported on Wednesday that the oil major was in early discussions over a takeover of its British rival. "No talks are taking place. As we have said many times before, we are sharply focused on capturing the value in Shell through continuing to focus on performance, discipline and simplification," a Shell spokesperson said. A BP spokesperson declined to comment on the WSJ report. The latest in a series of rebuttals by Shell follows recent repeated assertions by CEO Wael Sawan that Shell had a very high bar for big acquisitions and buying back shares was a better allocation of money than the possibility of buying BP. BP has been the subject of takeover talks for several years because of its stock's relative underperfor
The stock of Indostar Capital has gained 21% since its March quarter result declared on April 29 compared with nearly 4.5% increase in the ET NBFC index. The mid-tier nonbanking financial company (NBFC) reported strong growth in net interest income and improved asset quality amid tightened lending policies. The company sold stressed loans in a transaction with an asset reconstruction company (ARC) during the quarter which is expected to keep asset quality high in FY26 as well.Indostar’s cost-income ratio has historically been higher in the vicinity of 70%. It has undertaken a cost optimisation drive to rationalise operating costs. The company aims to bring the cost-income ratio down to around 50% in the coming quarters.Over the past two years, the company has been focusing on expanding i
New Delhi, PB Fintech's co-founders Yashish Dahiya and Alok Bansal divested a little over 1 per cent stake in the company for Rs 920 crore through open market transactions.PB Fintech's chief executive Dahiya and Vice Chairman Bansal sold a total of 50.50 lakh shares or 1.09 per cent stake in the company. PB Fintech is the parent of insurtech platform Policybazaar and fintech platform Paisabazar.According to the block deal data on the NSE, Ashish Dahiya offloaded a total of 34 lakh shares in two tranches, amounting to a 0.74 per cent stake in PB Fintech.In addition, Alok Bansal sold 16.50 lakh shares or 0.36 per cent holding in Gurugram-based PB Fintech, as per the data.The combined transaction was valued at around Rs 919.86 crore, executed at an average price of Rs 1,821.50 apiece.After th
