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Procter & Gamble Co has signed an agreement to acquire the consumer health business of German pharmaceuticals company Merck KGaA for about 3.4 billion euros.
TCS reported 5.70% sequential rise in net profit in its fourth quarter to Rs. 6904 crore, beating analyst expectations. The company’s third quarter profit was at Rs. 6531 crore. Board approved bonus issue of 1:1 and final dividend of Rs. 29/share.
Result to be declared tomorrow: HDFC Bank.
Government / Regulatory News:
SEBI exempted a private family trust related to the promoter group of Renaissance Jewellery from the obligation of making an open offer following its proposed acquisition of 15.00% stake in the firm.
NSE, BSE plan commodity derivatives platform.
Domestic mutual funds net bought stocks worth Rs. 9255 crore in 19 trading sessions. However, this was significantly lower than the Rs. 16180 crore seen in February.
Chartered Financial Analyst (CFA) Institute showed that Independent Financial Advisors (IFAs) are the most trusted source of information for retail investors. A total of 3127 retail investors and 829 institutional investors worldwide, including 100 retail investors and 84 institutional investors from India participated in the survey. Out of the seven sources of information for retail investors, 65% of the participants considered their personal financial advisor as the most trusted source, followed by friends and family (10%), online research (8%), academic experts and books (4%) and investment newsletters (4%).
Tata Mutual Fund has sought SEBI’s approval to launch an open-ended dynamic asset allocation fund, according to the draft offer document filed on the regulator’s website.
Mrs. Bector’s Food Specialties, supplier of buns to McDonald’s and maker of Cremica brand of biscuits, plans to list on the stock exchanges by the end of next calendar year.
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