Posts in category Economic Times
Vi may give government more equity to clear its bills (17-05-2024)
Vodafone Idea (Vi) CEO Akshaya Moondra discussed the telco's strategy to address government dues, including further conversions into equity and utilizing internal accruals. With obligations towards spectrum and AGR payments, Vi aims to leverage these methods before the moratorium ends in September 2025. Moondra also emphasized the viability of tariff hikes post-elections, highlighting the essential nature of mobile services. Vi is actively planning 5G rollouts, aiming for key city deployments over the next six months.
T-Minus 60: RBI fires liquidity booster (17-05-2024)
The Reserve Bank of India (RBI) has responded to tight liquidity conditions in the banking system by announcing a significant reduction in the government's treasury bill sales and introducing a new selection of bonds for the Centre's buyback operations. This move aims to alleviate cash constraints for banks, which have been exacerbated by muted government spending during the ongoing general elections. By reducing the supply of treasury bills and offering bonds for repurchase at acceptable prices, the RBI seeks to inject liquidity into the banking system and ease borrowing costs for banks.
NCLAT allows Sarda Energy to seek tribunal nod for its SKS Power offer (17-05-2024)
The National Company Law Appellate Tribunal (NCLAT) has granted permission to Sarda Energy & Minerals (SEML) to pursue a final approval from the bankruptcy court for its bid for SKS Power Generation. This decision overturns the lower court's ruling in October, which instructed the committee of creditors (CoC) to review its selection of SEML as the recipient of the 600 MW power producer.
RBI urges ARCs to follow the regulations in letter & spirit (17-05-2024)
RBI deputy governors M Rajeshwar Rao and Swaminathan J gave keynote addresses in the conference, 'Governance in ARCs - Towards Effective Resolutions'. It was attended by senior-most RBI officials and 80 participants from the ARC sector.
TV Today Network Q4 Results: Net profit jumps nearly 2-fold to Rs 11.46 crore (17-05-2024)
The company had posted a consolidated net profit of Rs 5.85 crore in the year-ago period, TV Today Network said in a regulatory filing. Consolidated revenue from operations in the quarter under review stood at Rs 252.79 crore against Rs 217.14 crore in the corresponding period a year ago.
Need to think about capital markets reforms 2.0 to meet needs of growing economy: CEA (17-05-2024)
Chief Economic Adviser V Anantha Nageswaran called for capital market reforms 2.0 at the CII Annual Business Summit, emphasizing India's upcoming inclusion in JP Morgan and Bloomberg bond indices and the importance of managing foreign flows.
Medanta Q4 Results: Net profit jumps 26% YoY to Rs 127.3 crore (17-05-2024)
Global Health (Medanta) reported 26% year-on-year (YoY) jump in net profit to Rs 127.3 crore in Q4FY24 due to increase in revenue growth from matured and new hospitals, along with higher patient volumes.
Ahead of Market: 10 things that will decide D-Street action on Saturday (17-05-2024)
Auto and metal stocks helped Indian benchmark equity indices on Friday log their best week since early February. The market would be open this Saturday as part of a disaster recovery exercise. MACD showed bullish trade on the counters of Bharat Rasayan, Lux Industries, Data Patterns, TeamLease Services. Tata Steel, Tata Motors, SBI, ONGC were the most traded stocks.
JB Pharma Q4 Results: Net profit jumps 43% YoY to Rs 126 crore (17-05-2024)
JB Chemicals & Pharmaceuticals on Friday said its profit after tax (PAT) increased 43 per cent to Rs 126 crore in the March quarter, driven by strong sales. The drug maker had reported a PAT of Rs 88 crore in the March quarter of FY23.
DXC Technology tumbles 18% as investors fret over latest restructuring plan (17-05-2024)
Shares of DXC Technology slumped 18% on Friday, after the IT services provider unveiled a new revamp and forecast fiscal 2025 revenue and profit below estimates.