ITC, in a bid to address investor concerns over the demerger of its hotels business, has outlined plans to boost its Return on Capital Employed (RoCE) by up to 20 per cent. The company aims to ensure that the new entity, ITC Hotels, maintains a well-capitalised, debt-free balance sheet. The demerger is designed to benefit […]
US-based Silicon Power Group has plans to set up a 150mm carbide manufacturing facility in Odisha. The cost of the project is estimated at Rs 1,000 crore. The investment will be made by the group’s Indian subsidiary, RIR Power Electronics. According to a press statement from the chief minister’s office, “Harshad Mehta, promoter of the […]
The Bank of Baroda in a report has said that in the last five years, the debt of Indian Inc has grown at a compound annual growth rate (CAGR) of 7.4 per cent. From Rs 62 lakh crore in FY18, the total debt of India Inc. increased to Rs. 75.7 lakh crores in FY20. The […]
LT Foods, a prominent Indian-origin global FMCG company specialising in consumer food products, reported impressive financial results for the first quarter of FY24. During this period, the company’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) witnessed a substantial 27 per cent year-on-year (YoY) improvement, amounting to Rs 224 crore. Additionally, the EBITDA margin rose […]
Adani Enterprises Subsidiary Raises Rs 3,231 Crore (USD 394 Million) from Barclays and Deutsche Bank for Solar Module Manufacturing Facility. In a significant boost to its business endeavours, an arm of Adani Enterprises has successfully secured Rs 3,231 crore (USD 394 million) from Barclays PLC and Deutsche Bank AG to meet its working capital requirements. […]
With India trying to develop its semiconductor presence worldwide, Micron Technology CEO Sanjay Mehrotra’s update about the chip export pinned optimism towards the country’s Semicon ride globally. Mehrotra said the chips to be manufactured in Micron’s Gujarat facility will be shipped in India as well as abroad. The CEO was addressing an annual semiconductor conference […]
Mahindra & Mahindra (M&M), a diversified conglomerate with interests in automotive, technology services, and non-bank lending, has decided to venture into the formal banking sector. To achieve this, M&M is purchasing nearly 10 per cent of RBL Bank, a private-sector lender. Presently, M&M already owns 3.5 per cent of the bank, acquired through secondary market […]
Dr Reddy’s Laboratories on Wednesday announced its consolidated financial results for the quarter ended June 30, 2023. The company reported revenue growth of 29.1 per cent YoY and 7.0 per cent QoQ to Rs. 6,758 crores and above market expectations of Rs. 6,343 crores. The pharma major’s Profit after Tax stood at Rs. 1,405 crores, […]
Samsung Electronics has announced its decision to extend production cuts in response to a challenging global semiconductor market. The company expressed a cautious outlook for the industry, noting that the demand recovery is primarily confined to high-end chips utilised in artificial intelligence applications. The memory chip industry has been experiencing an unprecedented downturn, which had […]
Hitachi Payment Services on Thursday said that it has acquired the Cash Management Business of Writer Corporation. The company said that this acquisition will transform Hitachi Payments’ market standing by integrating the cash management business into its overall service offerings, positioning it as a one-stop payments and commerce solutions provider. It will enable Hitachi Payments […]
