Swedish engineering company joins the ranks of companies seeking to delist from local bourses. Shareholders will reap a windfall, though they lose a good company in the process.
Thermax reported a 32% growth in revenues and net profit rose by 21%, despite higher material costs denting profitability. Order book growth has been slow, rising by 7% over the preceding quarter.
Bhel’s order book growth was rather slow in the December quarter. Sales and profit growth were good, but got a boost from a change in the method of accounting for revenues.
Tata Motors is seeking to make use of JLR’s rising cash flows by leveraging its balance sheet, and refinance existing debt and potentially lower interest costs too.
State Bank of India’s reaction to the credit policy was swift, in a move which will see short term deposit rates spike and all loans will become expensive.
