Making Sense of Finance

Financial Sector

• Competition Commission of India (CCI) has approved the merger proposal of HDFC Bank and its
  parent HDFC Ltd.
• HDFC Bank increases RD interest rates by up to 40 bps
• Promoter Abrdn Investment Mgmt sells a 5.6% stake in HDFC AMC for ₹2,300 Cr
• SBI opens its first dedicated branch for startups in Bengaluru
• SBI starts insolvency process against sugar firm Bajaj Hindusthan at NCLT
• Kotak Mahindra Bank launched the “Kotak Crème” lifestyle-focused corporate salary account
• RBL Bank offloads over 12% stake in Kilburn Engg since May for ₹17 Cr

IT Sector

• TCS Recognized as a Leader in the Gartner® Magic Quadrant™ for Finance and Accounting
  Business Process Outsourcing
• TCS BaNCS Ranked 1 Investment and Fund Management Solution in IBSI SLT 2022
• HCL Tech looks to expand ties with hyperscalers
• Infosys deploys Finacle for Suryoday Small Finance Bank
• Wipro GE Healthcare and Boston Scientific join hands to provide cardiac care solutions in India
• Durham University selects Evosys, a Mastek Company for its Oracle Cloud Migration Journey

Pharma Sector

• Sun Pharma Halol Facility Gets OAI From USFDA
• Cipla board appoints Ashish Adukia as global CFO
• New Jersey-based Glenmark Pharmaceuticals Inc, a subsidiary of the company, is recalling
  affected lot of Tacrolimus Ointment
• NCLT approves Piramal Enterprises’ demerger
• KKR sells Max stake in PE’s largest exit KKR sells Max stake in PE’s largest exit
• Aurobindo Pharma completes acquisition of 51% stake in GLS Pharma
• Lupin receives USFDA nod for rufinamide tablets to treat seizures
• Natco Pharma receives USFDA tentative approval for Trabectedin for Injection

Auto Sector

• Tata Motors wins order of 921 electric buses from BMTC
• 2022 Maruti Suzuki Alto K10 launched in India
• 2022 Maruti Swift CNG launched in India
• Mahindra Group may buy General Motors’ Talegaon plant in Maharashtra
• Ashok Leyland-backed Switch Mobility unveils electric double-decker bus for Mumbai

Author: MSFL Advisory Team