India’s state-run companies and public sector banks that have yet to comply with the minimum public shareholding (MPS) norms are likely to receive a two-year extension, extending the deadline to August 1, 2026. This development is based on reports and a letter dated July 19, addressed to SEBI Chairperson Madhabi Puri Buch by the Department …
On July 31, 2024, Tata Steel reported a consolidated EBITDA of ₹6,822 crore for the quarter ended June 30, 2024. Financial Highlights For the quarter of April to June 2024, Tata Steel reported consolidated revenues of ₹54,771 crore and an EBITDA of ₹6,822 crore, resulting in an EBITDA margin of about 12.5%. The company invested …
Endurance Technologies Limited has updated the stock exchanges regarding its increased shareholding in Maxwell Energy Systems Private Limited. This follows the company’s previous announcement on July 17, 2023, about raising its stake in Maxwell from 51% to 56%. Endurance Technologies has now further increased its shareholding to 61.5% by acquiring an additional 5.5% equity stake. …
Central Bank of India has announced a strategic Co-Lending Partnership with Shriram Finance Limited, aimed at offering MSME (Micro, Small, and Medium Enterprises) loans at competitive rates. This partnership is subject to compliance with applicable laws and guidelines set by the Reserve Bank of India (RBI). The collaboration is designed to enhance the portfolio expansion …
On July 31, 2024, Infosys Ltd informed the stock exchanges that the company, in partnership with MIT Technology Review Insights, released a new report titled “Reimagining Cloud Strategy for AI-First Enterprises.” The report, based on a survey of 500 global industry leaders with revenues exceeding $500 million, assesses their cloud and data readiness as they …
Thomas Cook (India) Limited has announced its financial results for the quarter ended June 2024, reporting a Group Profit Before Tax (PBT) of ₹1,073 million for Q1 FY25, reflecting a 17% growth compared to Q1 FY24. Consolidated gross and EBITDA margins were sustained during the quarter. Q1 FY 2025 Financial Highlights The standalone PBT of …
On July 31, 2024, Tata Technologies Limited (TTL) announced the incorporation of a wholly owned subsidiary, BMW TechWorks India Private Limited (BTIPL). The Ministry of Corporate Affairs, Government of India, issued the Certificate of Incorporation for BTIPL on the same day. Tata Technologies Limited, the promoter of BTIPL, will hold 100% of the subsidiary’s share …
Redington Ltd has announced its financial results for the quarter ending June 30, 2024 (Q1 FY’25), showcasing strong performance across all business segments, outperforming industry standards. With revenue reaching ₹21,335 crores, the company stated that this has been its best Q1 to date. Net profit, excluding Arena, saw a year-on-year growth of 13%. Despite challenges …
Infosys, India’s second-largest IT company, according to the reports, faced allegations of tax evasion amounting to over Rs.32,000 crore by the Directorate General of GST Intelligence (DGGI). The charges pertain to non-payment of GST on expenses incurred by the company’s overseas branches from July 2017 to March 2022. According to the DGGI, Infosys paid consideration …
On July 31, 2024, the benchmark indices Nifty was up 0.38% to close at 24,951, and Sensex was up 0.35% to close at 81,741. Top Gainers and Losers On the sectoral front, Nifty Mid-small Healthcare, Nifty Metal, Nifty Pharma, and Nifty Media ended in the green. Meanwhile, Nifty PSU Bank and Nifty Realty were declining. …
