In the latest trading session, while the frontline indices ended with mixed results, the Nifty Metal Index emerged as the star performer. Metal stocks such as Hindustan Zinc, Hindalco, Hind Copper, and Vedanta captured significant attention as copper prices soared towards record highs. This surge was driven by the Chinese government’s decision to purchase unsold …
On May 21, 2024, Reliance Industries Limited (RIL) informed the exchanges that the company and Nel Hydrogen Electrolyser AS had entered into a technology licensing agreement. The agreement offers RIL an exclusive licence for Nel’s alkaline electrolysers in India and also allows RIL to manufacture Nel’s alkaline electrolysers for captive purposes globally. Nel Hydrogen Electrolyser …
On May 21, 2024, the Nifty 50 rose 0.12% and closed at 22,529, and the Sensex declined 0.07%, closing at 73,953. Top Gainers and Losers On the sectoral front, Nifty Metal, Nifty PSU Bank, Nifty Media and Nifty Oil & Gas ended in the green. Meanwhile, Nifty Private Bank, Nifty FMCG, Nifty Bank and Nifty …
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 …
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 …
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 …
India’s economic landscape is shaped by a network of powerful entities known as PSUs (Public Sector Undertakings). These organisations play a crucial role in driving national growth across various sectors. PSUs are integral to India’s development, from powering our homes to fueling our industries. They showcase a robust partnership between the public sector and economic …
Patel Engineering Limited, a prominent player in the Indian infrastructure sector, announced a strategic move to diversify its portfolio further. The company’s Board of Directors recently approved the acquisition of a 10% stake in a promising start-up, Shail Tunnelling, specialising in the supply of tunnel boring machines (TBMs). This acquisition signifies Patel Engineering’s commitment to …
Zuari Industries Limited, a prominent player in the Indian industrial landscape, announced a strategic move to consolidate its ownership stake in Texmaco Rail and Engineering Limited (Texmaco). The company’s Board of Directors recently approved the acquisition of equity shares in Texmaco for a maximum consideration of ₹200 crore (approximately USD 24 million) from Zuari International …
The National Financial Reporting Authority(NFRA) has banned the auditors of Anil Ambani group companies Reliance Home Finance and Reliance Commercial Finance and has also levied a penalty for the irregularities in their accounts for the 2018-19 period. Reliance Home Finance Auditors Dhiraj and Dheerak, The Auditors of Anil Ambani Group company, Reliance Home Finance have …
