News Overview

The merger aligns with Axiata Group Berhad's strategy of market consolidation and resilience, aiming to create shareholder value through achievable synergies.

In Q3 FY24, the company's consolidated net profit increased by 30.5% to ₹724.13 Crore from ₹555.05 Crore in Q3 FY23. In Q3 FY24, total income rose 32.8% YoY to ₹7,442.85 Crore.

The Sensex surged by 431.94 points or 0.59% to reach 73,375.62, while the Nifty climbed by 151.80 points or 0.69%, reaching 22,299.70.

While group collections increased to ₹5,915 Crore in FY24 from ₹5,424 Crore the previous year, the average realisation for FY24 increased by 23% year over year.

GQG increased its investment in Adani Energy Solutions by the most during the March quarter, investing ₹2,316 Crore.

Domestic crude oil production in FY24 was 29.4 million tonnes, essentially unchanged from the previous year's 29.2 million tonnes.

Earlier in the month, Shilpa Medicare successfully raised ₹500 Crore through a Qualified Institutional Placement (QIP), reflecting investor confidence in the company's growth prospects.

Presently, a total of 38 mutual funds have investments in ITC, collectively holding shares valued at ₹62,063 Crore

This development underscores the complex regulatory landscape faced by companies operating in India, highlighting the importance of diligent compliance and proactive engagement in addressing legal challenges.

In conversation with Sheetal Agarwal of IIFL, management of the company explains its strengths, growth strategy and listing plans.