On May 22, 2024, Strides Pharma Science Limited (Strides) informed in an exchange filing that its step-down wholly owned subsidiary, Strides Pharma Global Pte. Limited, Singapore, has got a nod from the United States Food & Drug Administration (US FDA) for the generic version of Sucralfate Oral Suspension, 1gm/10 mL. Sucralfate Oral Suspension is bioequivalent …
On May 21, 2024, Indoco Remedies informed the exchanges that the company got final approval from the U.S. Food and Drug Administration (US FDA) for Abbreviated New Drug Application (ANDA) for Pregabalin capsules 25mg, 50mg, 75mg, 100mg, 150mg, 200mg, 225mg and 300mg. The company stated that the Pregabalin capsules are a generic equivalent of the …
On May 21, 2024, VST Tillers Tractors Ltd informed the exchanges that it has partnered with Axis Bank. The company has signed a Memorandum of Understanding (MOU) with Axis Bank to provide financial solutions for farmers purchasing tractors and farm mechanisation products. According to the agreement, Axis Bank will offer financial solutions to VST’s prospective …
On May 21, 2024, Royal Orchid Hotels Ltd (ROHL) announced via an exchange filing the signing of ‘Regenta Resort,’ a luxury 5-star retreat near the world’s tallest statue, the Statue of Unity, in Kevadia, Gujarat. This will be the 15th ROHL-branded hotel in Gujarat. Strategically situated close to this globally recognised tourist attraction, Regenta Resort …
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 …
