NDL Ventures Limited (formerly known as NXTDIGITAL Limited) has taken a significant step forward in its proposed merger with Hinduja Leyland Finance Limited (HLF). The company announced that it has received a No Objection Certificate (NOC) from the Reserve Bank of India (RBI) for the merger, paving the way for the next phases of the consolidation process.

Key Developments

• RBI Approval: The Reserve Bank of India has issued a No Objection Certificate for the proposed merger of Hinduja Leyland Finance Limited into NDL Ventures Limited.
• Next Steps: NDL Ventures will now proceed with subsequent steps to implement the merger scheme, including:
  • Completion of statutory filings
  • Obtaining remaining consents, if any
  • Implementation of the scheme as per approved terms

Company Statement

In a communication to the stock exchanges, NDL Ventures stated, "We are in receipt of a communication from Hinduja Leyland Finance Limited that they have received the No Objection Certificate (NOC) from Reserve Bank of India (RBI) for the proposed scheme of merger of Hinduja Leyland Finance Limited (HLF) with NDL Ventures Limited (NDL)."

Implications

This regulatory approval marks a crucial milestone in the merger process between NDL Ventures and Hinduja Leyland Finance. The merger, once completed, could potentially lead to synergies and a stronger market position for the combined entity in the financial services sector.

Market Information

NDL Ventures Limited is listed on both the BSE and the National Stock Exchange of India. Investors and market participants will likely be watching closely as the company moves forward with the merger process.

The company has assured stakeholders that it will proceed with the necessary steps to effectuate the merger, signaling a commitment to completing the transaction in compliance with regulatory requirements and approved terms.

As the merger progresses, further updates are expected regarding the completion of statutory filings and the final implementation of the scheme. Shareholders and interested parties are advised to stay tuned for additional announcements from NDL Ventures Limited regarding this significant corporate action.

Prime Securities Limited has reported a significant surge in its financial performance for the quarter ended June 30, with consolidated net profit soaring to Rs 1,210.00 lakhs, marking a remarkable 15-fold increase from Rs 80.00 lakhs in the same quarter last year.

Strong Revenue Growth

The company's total income from operations witnessed a substantial rise, reaching Rs 4,691.00 lakhs compared to Rs 1,271.00 lakhs in the corresponding quarter of the previous year, representing a nearly 3.7-fold increase.

Standalone Performance

On a standalone basis, Prime Securities posted equally impressive results:

• Net profit rose to Rs 814.00 lakhs, up from Rs 78.00 lakhs in the previous year's quarter
• Total income increased to Rs 1,602.00 lakhs from Rs 489.00 lakhs year-over-year

Improved Earnings Per Share

The company's robust performance is reflected in its earnings per share (EPS) figures:

• Basic EPS on a consolidated basis improved significantly to Rs 3.62, compared to Rs 0.29 in the corresponding quarter of the previous year

Financial Highlights

The substantial growth in Prime Securities' financial metrics indicates a strong performance across its business segments. The significant increase in total income suggests expanded business operations or improved market conditions in the company's core areas of operation.

While the company has not provided specific reasons for the exceptional growth in this quarter, the magnitude of improvement in both top-line and bottom-line figures points to potentially favorable market dynamics or successful strategic initiatives implemented by the company.

Investors and market analysts will likely be keenly watching Prime Securities' performance in the coming quarters to see if this growth trajectory can be sustained. The company's ability to maintain this level of profitability and revenue growth will be crucial in determining its long-term financial health and market position.