News Overview

The board meeting, scheduled for today on March 20, will focus on the proposal to issue bonus shares to existing shareholders.

According to the regulations, an upper layer NBFC must list after three years of notification. The RBI notified Tata Sons in September of 2022.

Ramky Infrastructure's subsidiary, Srinagar Banihal Expressway (SBEL), reached a one-time debt settlement with lenders for ₹1,245.49 Crore.

The company notified the stock exchanges that the proposed purchase does not come under the ambit of the related party transaction and that the promoter, promoter group, or group companies are not interested in the corporation being bought.

Katerra owes Yes Bank ₹521 Crore and was forced into corporate insolvency last year. This indicates that Yes Bank's exposure to Katerra has nearly recovered to 40%.

This transition follows a planned strategy initiated since October 2023. K. Hari Prasad, the current President of Apollo Hospitals, to retire on March 31 after serving for 27 years.

The company had submitted its draft papers on December 29, 2023, outlining an IPO comprising a fresh issue of shares worth Rs 300 crore alongside an offer-for-sale of 29.95 lakh equity shares by promoters.

HCLTech to utilize CAST's silicon-proven IP cores and controllers for design verification, emulation, and rapid prototyping of turnkey SoC solutions.

Shareholders can expect the interim dividend to be credited to their accounts or dispatched on or before April 17, 2024.

Exposure to a single segment, high customer concentration risk (Phillips makes up ~45-50% of overall revenue) and growth challenges in the lighting segment remain key risks, ramp up in the non-lighting electronics segment remains to be seen. The stock currently trades at 34x TTM EPS.