Japan’s SMBC gets RBI nod to open India subsidiary after Yes Bank stake deal Company Business News

India’s largest hospitality company by market capitalization, the IHCL is listed on both BSE and NSE. Tata group’s hospitality arm Indian Hotels Company (IHCL) announced on Thursday that it has acquired a majority stake in Brij Hospitality, which operates Brij Hotels, in a deal worth ₹193 crore. In November 2020, RBI had seized control of the struggling Lakshmi Vilas Bank (LVB) and forced a merger with the local unit of Singapore’s largest lender DBS Bank. The approval for a wholly-owned subsidiary comes a few months after Sumitomo Mitsui Banking Corp. bought 24.2% in Yes Bank in two transactions. In May, RBI said it has decided to grant in-principle approval to Dubai-based Emirates NBD Bank PJSC to establish a wholly-owned arm in India. RBI said that Sumitomo Mitsui Banking Corp. currently has operations in India in branch mode from its offices in New Delhi, Mumbai, Chennai and Bengaluru.

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• Hence, with this acquisition, IHCL’s total portfolio now stands at 610 hotels, including 253 properties that are currently under development and will be added in the coming years.
• On the other hand, FPIs upped their stake in Suzlon Energy by 14.21 crore equity shares, or 1.03 per cent, to 3,25,41,20,395 equity shares, or 23.73 per cent for December 2025 quarter.
• The Reserve Bank of India (RBI) on Wednesday said it has decided to allow Sumitomo Mitsui Banking Corp. (SMBC) to operate a wholly-owned arm in India, four months after the Japanese financial services giant acquired nearly a quarter of private lender Yes Bank.
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Grow your wealth with stock ideas & sectoral trends. Analysts remain optimistic, with Trendlyne data showing a “STRONG BUY” consensus from 10 analysts, and an average price target implying upside potential of around 45% from current levels. JM Financial said that Suzlon’s revenue may surge 34 per cent YoY on account of higher dispatches, while PAT may surge 40 per cent YoY in the December 2025 quarter.

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At the end of the September quarter, LIC held 10.12 crore shares or a 4.22% stake in the company, showed data from BSE. On the other hand, FPIs upped their stake in Suzlon Energy by 14.21 crore equity shares, or 1.03 per cent, to 3,25,41,20,395 equity shares, or 23.73 per cent for December 2025 quarter. According to the latest shareholding pattern filed by the company, domestic institutions owned 1,26,63,46,053 equity shares, or 9.24 per cent stake in Suzlon Energy as of December 31, 2025. They owned 3,11,20,34,599 equity shares, or 22.70 per cent as of September 2025 quarter. According to the latest shareholding pattern, more than 55.71 lakh retail investors owned 5,35,83,18,350 equity shares, or 39.07 per cent stake in Suzlon as of the end of Q3.

That was the first time the central bank had tapped a bank with a foreign parent to backstop an Indian rival. In the past, the regulator has allowed the local arm of a foreign bank to take over a domestic lender. This is the second foreign bank to receive a conditional nod from RBI to open a local subsidiary in eight months. If satisfied with certain compliances following this conditional nod, RBI said it will consider granting the foreign lender a licence to start its banking business under the new subsidiary. The Reserve Bank of India (RBI) on Wednesday said it has decided to allow Sumitomo Mitsui Banking Corp. (SMBC) to operate a wholly-owned arm in India, four months after the Japanese financial services giant acquired nearly a quarter of private lender Yes Bank.

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. We advise investors to consult with certified experts before making any investment decisions. We remain focused on broadening our portfolio while strengthening in-house talent pool and execution capability.” Meanwhile, the adjusted profit (excluding exceptional items) was higher by 4.1% to ₹6114.1 crore. On a longer time frame of two years, Sun Pharma stock has rallied 28%, while in three years, it has jumped 65%.

Get to know where the market bulls are investing to identify the right stocks. The total market capitalization of the company stood little above Rs 67,000 crore. IHCL, the parent company of Taj Hotels, said in an official release that it has signed definitive agreements to acquire 51% stake in Brij Hospitality, a company known for its presence in boutique experiential leisure offering. As of 31 March 2025, these banks accounted for 3.3% of the total bank credit, with private banks cornering 40% and public sector bank topping the list at 52.3%. A local unit gives more flexibility to the bank than when operating as a branch. The ‘in-principle’ approval will allow the institutional lender to set up a wholly-owned subsidiary in the country by converting its existing branches in India.

US sales of Innovative Medicines have surpassed Generics for the first time during the quarter. For the first half of the financial year, the company’s sales grew 9.3% to ₹28,191.3 crore. The stock offered a return of 180% in five years and 115% in ten years. In the last one year, the pharma stock has remained flat as it declined 4%. The December quarter shareholding pattern is yet to be released. Analyze the market sentiments & identify the trend reversal for Stake strategic decisions.

Your Reason has been Reported to the admin. Find this comment offensive? It has a ‘buy’ rating on Suzlon Energy with a target price of Rs 70. Shares of Suzlon Energy settled at Rs 49.01 on Wednesday, up 0.6 per cent for the day. We are also in the midst of some business development in Sri Lanka. When asked whether the brand will be restricted to India, they told PTI that, “We actually have an upcoming asset in Pokhara in Nepal, which is very experiential.

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