In today’s briefing:
- HDFC/HDFCB Merger: Impact on Bank Nifty
- Vedant Fashions Ltd (Manyavar)- Forensic Analysis
HDFC/HDFCB Merger: Impact on Bank Nifty
- The HDFC Bank (HDFCB IN) / HDFC Limited (HDFC IN) merger will result in capping and funding changes on the Nifty Bank Index (NSEBANK INDEX) constituents.
- We estimate one-way turnover of around 8.4% resulting in a one-way trade of INR 21,865m (US$266m) at the time of merger implementation.
- The impact in terms of ADV is less than 1x on all stocks, but the impact in terms of delivery volume is higher than 1x on a few stocks.
Vedant Fashions Ltd (Manyavar)- Forensic Analysis
- Vedant Fashions (MANYAVAR IN) , (VFL) had recently debuted on the bourse in 2022.
- The company has grown to be one of the largest brands in the wedding/celebration apparel industry, boasting a network of 595 stores and 300+ franchises as of March 2022.
- When it comes to the forensics, there are slight grey areas observed with respect to the accounting complications. The insight also highlights key governance takeaways.
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