News Overview

The USFDA flagged concerns about procedural inadequacies to prevent microbiological contamination and the absence of verification processes for data accuracy at the plant.

The windfall tax on petroleum oil was increased by the government earlier on April 4 from ₹4,900 to ₹6,800 per metric ton.

Soft performance likely on growth and profitability.

Strong show expected (over the year-ago quarter) on all key parameters.

Anish Shah, CEO & MD of Mahindra Group, highlighted the project's role in addressing climate change and promoting green operations.

Pursuant to cut in growth expectations for Q4FY24 (Mgmt guides for QoQ drop in sales), including softness in Mobile EMS, analysts of IIFL Capital Services cut FY24 EPS by 7%. Ex-Mobile EMS, revenue is lowered by 4/7% and Ebitda by 8/10%, respectively for FY25/26, given analysts of IIFL Capital Services cautious view on rebound in consumption.

In accordance with RBI regulations, the money will be obtained through external commercial borrowings, including the purchase of US dollar bonds.

In June of last year, both the companies formed a joint venture in India, where they equally contributed $150 million each to offer asset management services.

Chief executive Akshaya Moondra stated that the ₹18,000 Crore follow-on share offer will reduce the government interest to 24%.

In August 2022, the London-based mining conglomerate paid ₹565 Crore for Athena Chhattisgarh Power Ltd to cover its captive power demand.