On May 20, 2024, Apollo Pipes informed the stock exchanges that the company is adopting a new line of business, which falls in the domain of UPVC Doors and Windows Profiles. This new line of business is an extension of the product range in the polyvinyl chloride (PVC) segment. The company stated that UPVC Doors …
The Supreme Court of India has provided major financial relief to Bharti Airtel, Vodafone Idea, and Tata Communications by waiving the interest on their substantial tax dues, saving them around Rs.3,000 crore. October ’23 Judgment In October 2023, the Supreme Court reversed a 2013 Delhi High Court ruling. The Court declared that annual license fees …
Understanding the Financial Health of Companies The debt-to-EBITDA ratio serves as a crucial financial metric, offering insights into a company’s ability to manage its debt obligations. By comparing a company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) to its debt, investors can gauge its financial health. A lower ratio indicates lesser debt burden, while …
Financial Performance In FY24, ONGC recorded its highest-ever standalone net profit of Rs 40,526 crore, marking a modest increase of 1.1% from Rs 40,097 crore in FY23. Consolidated net profit reached an unprecedented Rs 57,101 crore, surging by 67.7% from Rs 34,046 crore in the previous year. Gross revenue for the year stood at Rs …
On May 21, 2024, Mphasis Limited informed in an exchange filing about the inauguration of the Global Centre of Excellence (CoE) for Advanced Computing in Phoenix Infocity, Hyderabad, Telangana. The company stated that this new centre will develop solutions in emerging technologies including Gen AI, AI, and Quantum Computing for global clients. Since its establishment …
On May 21, 2024, Shriram Properties Limited (SPL) informed the exchanges that it had signed a Joint Development Agreement (JDA) to develop a prime 4-acre land parcel nestled in the coveted micro market of Yelahanka, Bengaluru. The proposed project will comprise 270 apartments, totalling approximately 3.8 lakh square feet of saleable area. With an aggregate …
On May 21, 2024, Coforge Limited informed the stock exchanges about the collaboration with Microsoft to establish the Coforge Copilot Innovation Hub. The Hub will develop a pipeline of new industry-specific generative AI solutions and work closely with Microsoft to integrate these solutions with its generative AI products and technologies, including Microsoft Azure OpenAI Service, …
The benchmark index S&P BSE 500 opened today at 33,390.16 and made its day high at 33,405.33, and it is trading flat today, up by around 0.01%. From the same space, these are the top 3 companies that outperformed the benchmark index and were up by more than 5% today. Poly Medicure Ltd Shares of …
On May 21, 2024, Glenmark Pharmaceuticals Ltd informed the stock exchanges that the company’s subsidiary, Glenmark Specialty S.A., made an exclusive marketing and distribution agreement with a global oncology company, BeiGene. As per the agreement, Glenmark will register and commercialise BeiGene’s oncology medicines, Zanubrutinib and Tislelizumab, in India. Under this strategic partnership, Glenmark will be …
On May 20, 2024, Krishna Institute of Medical Sciences Limited (KIMS) announced to the exchanges that on May 19, 2024, it had signed an agreement to invest up to ₹71,27,50,000 by subscribing to 7,12,750 Optionally Convertible Redeemable Preference Shares (OCRPS) with a face value of ₹1000 each in KIMS Hospital Bengaluru Private Limited. KIMS Hospital …
