🇮🇳 India Daybook: HDFC Bank Secures RBI Nod for IndusInd Stake, SBI Inks Green Funding Deal
Published: 2025-12-16 07:15 IST | Category: Markets | Author: Abhi
📈 MARKET OVERVIEW
Indian equity benchmarks concluded December 16 in negative territory, with the Nifty 50 declining below the 24,700 mark and the Sensex shedding 0.47% to close at 81,748.57. The market experienced a cautious opening following a weak trend in global markets and continued outflows from Foreign Institutional Investors (FIIs). Despite the weakness in frontline indices, domestic institutional investors (DIIs) showed continued participation, helping to cushion deeper downside risks. The Indian Rupee also touched a new record low, influenced by foreign selling and a prolonged trade deal stalemate.
📍 ACQUISITION & INVESTMENT
- HDFC Bank: The Reserve Bank of India (RBI) has granted HDFC Bank approval to acquire an aggregate holding of up to 9.5% of the paid-up share capital or voting rights in IndusInd Bank. This permission extends to HDFC Bank's group entities, including HDFC Mutual Fund, HDFC Life Insurance Company, HDFC ERGO General Insurance Company, HDFC Pension Fund Management, and HDFC Securities. The RBI approval is valid for one year, until December 14, 2026, with the condition that the combined shareholding must not exceed the 9.5% limit during this period.
💰 FUNDING & AGREEMENTS
- State Bank of India (SBI): SBI is set to sign a €150 million line of credit agreement with KfW, the German government-owned development bank, on December 16, 2025. This funding is earmarked to support climate-friendly energy generation projects across India.
🧑💼 LEADERSHIP CHANGES
- Panacea Biotec Limited: Effective December 16, 2025, Mr. Vinod Goel has been appointed as the Chief Financial Officer (CFO) and Head Legal & Corporate Governance of the company. Concurrently, Mr. Goel will cease to hold the positions of Company Secretary and Compliance Officer. Mr. Ankit Jain has been appointed as the new Company Secretary and Compliance Officer, also effective December 16, 2025.
- Devyani International (Costa Coffee India): Kamaljit Singh Bedi has resigned as the CEO of Costa Coffee India, effective December 12, 2025. This marks the third CEO departure for Costa Coffee India, operated by master franchisee Devyani International, in less than three years.
🏢 CORPORATE ACTIONS & DEVELOPMENTS
- Mahanagar Telephone Nigam (MTNL): The state-run telecom operator has received approval for the sale of its residential property located in the Bandra Kurla Complex in Mumbai.
- Goenka Diamond and Jewels Limited: Trading in the equity shares of Goenka Diamond and Jewels Limited will be suspended with effect from December 16, 2025, due to the initiation of liquidation proceedings by the National Company Law Tribunal (NCLT), Jaipur Bench. However, the National Company Law Appellate Tribunal (NCLAT) in Delhi has granted a stay on the appointment of the liquidator.
- Faalcon Concepts Limited: The company has received listing approval from BSE Limited for a preferential issuance of 29.15 lakh equity shares through a share swap. The company officially informed the exchange about this development on December 15, 2025.
🗓️ UPCOMING BOARD MEETINGS & CORPORATE EVENTS
- BF Utilities Limited: A board meeting is scheduled for December 16, 2025, to consider and approve the unaudited consolidated financial results for the quarter that ended June 30, 2025.
- Canara Robeco Asset Management Company Limited: The company's board is set to meet on December 16, 2025, to consider an interim dividend.
- THE WEALTH COMPANY MUTUAL FUND: A new Gold ETF (NFO) is being offered on the BSE StAR MF Platform from December 16, 2025, to December 22, 2025.
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