Inox Wind Energy
Inox Wind Energy informed the exchanges about raising Rs 900 crore through equity share sale of Inox Wind Ltd, a subsidiary of the INOXGFL Group. The company will use the funds to pare down debt of Inox Wind and augment the working capital needs of the company thereby, strengthening its balance sheet further.
Aditya Birla Capital
Financial Services firm Aditya Birla Capital confirmed infusing Rs 300 crore in its housing finance arm Aditya Birla Housing Finance Ltd (ABHFL) to help the business grow. In its regulatory filing. the company informed that it is making the investment in ABHFL to meet its growth, funding requirements and improve its leverage ratio.
Bata India
Bata India Ltd declared Q4 Results 2024 on May 29. The leading shoemaker reported a 3.02 per cent dip in consolidated net profit to Rs 63.64 crore, while its revenue from operations increased 2.47 per cent to Rs 797.87 crore during the quarter under review.
The company informed that its total expenses in the last quarter were at Rs 736.83 crore, up 5.22 per cent. “The results for the quarter are a factor of resilience despite sluggish demand conditions to drive growth in a sustainable manner with strong margin performance,” said an earning statement from Bata India.
Tata Steel
Tata Steel declared its Q4 Results on 29th May. It reported a 64.59 per cent slump in its consolidated net profit to Rs 554.56 crore. Notably, the steel major had recorded a profit of Rs 1,566.24 crore in the year-ago period.
Tata Steel’s total income decreased to Rs 58,863.22 crore, while the expenses dropped to Rs 56,496.88 crore. The revenues decreased by 6 per cent. The board of the company recommended a dividend of Rs 3.60 per equity share of face value Re 1 each for FY24.
SBI and ICICI Bank
S&P Global Ratings has revised outlook on SBI and ICICI Bank to positive from stable, mirroring the rating action on the sovereign. The ratings agency affirmed BBB- long-term and ‘A-3’ short-term ratings on six banks – Axis Bank, ICICI Bank, State Bank of India, HDFC Bank , Kotak Mahindra Bank and Indian Bank.
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The shares of Inox Wind Energy, Aditya Birla Capital, Bata India, Tata Steel, SBI and ICICI Bank are expected to remain in focus on May 30, 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
