The key business vertical of hi-tech and emerging industries, where the revenue growth has been sluggish over the past few quarters, is likely to show a turnaround given the new deal wins. The company’s management also expects to improve the operating margin in the second half of the fiscal year with rising utilisation levels.
Posts in category Economic Times
Bharti Telecom to raise Rs 11,150 crore through NCDs (31-10-2024)
The issuance is divided across various tenors and series. The annual coupon rate for the debentures will range from 8.25% to 8.9%, with payments to be made annually and upon maturity for each respective tranche.
The rise and rise of ex-China EM funds can bring big flows to D-Street (31-10-2024)
The number of ex-China EM funds has nearly doubled to 70 worldwide in two years, Morningstar data showed, reflecting a robust investor appetite for such assets outside of China.
Gold & silver ETFs shine on Dhanteras as volume spikes 5x (31-10-2024)
The combined turnover of gold and silver ETFs stood at ₹428 crore on October 29 as against ₹89 crore on the eve of Dhanteras last year. While gold ETF volumes surged from ₹65 crore to ₹236 crore, silver volumes jumped from ₹23.6 crore to ₹191.6 crore. ETFs are bought and sold like listed stocks.
Swiggy’s Rs 11,327-crore IPO to open on November 6 (30-10-2024)
The company aims to use the proceeds from the fresh issue for investment in Scootsy, for repayment or its borrowings, expansion of dark store network for quick commerce segment through setting up of dark stores and making lease / licence payments for dark stores
LCR buffers high at most banks, may dip once new rules kick in (30-10-2024)
Banks in India have built high liquidity coverage ratio buffers anticipating stricter RBI norms. Most banks exceed the 100% LCR requirement, with private banks holding up to 136%. The new guidelines might reduce LCR by 7-10 percentage points, but public sector banks might need to increase their holdings.
Yet another ARC to shut shop, this time an Aditya Birla joint venture (30-10-2024)
Aditya Birla Asset Reconstruction Company is winding down its operations in India, joining other fund-backed ARCs exiting due to challenges in the sector. The decline in non-performing loans and preference for government-backed NARCL’s terms have contributed to this trend, highlighting shifting investor interests.
Top banks keen to share project loan for Adani Enterprises (30-10-2024)
Bank of Baroda (BoB), Punjab National Bank (PNB), Union Bank of India, Central Bank of India, ICICI Bank and Axis Bank have either committed or are in the process of committing funds to the $4-billion polyvinyl chloride (PVC) project at Mundra in Gujarat, people familiar with the developments said.
Oil rises 2% as US stockpiles drawdown, OPEC+ mulls output hike delay (30-10-2024)
Oil prices increased by more than 2% as U.S. crude and gasoline inventories unexpectedly fell last week. There are reports that OPEC+ might delay a planned oil output increase due to concerns over weak demand and rising supply. Imports of crude oil from Saudi Arabia to the U.S. fell to their lowest level since January 2021.