Tag: earnings

Jindal Steel and Power declares dividend of ₹2, net profit zooms to ₹933 crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Steel major Jindal Steel and Power Ltd (JSPL) on Monday (May 13) reported a 100.21% year-on-year (YoY) jump in net profit at ₹933.5 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Jindal Steel and Power posted a net profit of ₹466 crore, the company said in a regulatory filing. A CNBC-TV18 poll had predicted a profit of ₹1,070 crore for the quarter under review.

The company’s revenue from operations dipped 1.5% to ₹13,487 crore as against ₹13,692 crore in the corresponding period of the preceding fiscal. A CNBC-TV18 poll had predicted revenue of ₹11,839 crore for the quarter under review.

At the operating level, EBITDA jumped increased 11.8% to ₹2,445 crore in the fourth quarter of this fiscal over ₹2,187 crore in the corresponding period in the previous fiscal. CNBC-TV18 poll had predicted an EBITDA of ₹2,387 crore for the quarter under review.

Also Read: DLF net profit jumps 61% to ₹921 crore; revenue rises 47%

EBITDA margin stood at 18.1% in the reporting quarter as compared to 16% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation. A CNBC-TV18 poll had predicted a margin of 20.2% for the quarter under review.

The board has considered and recommended a final dividend for the financial year 2023-24@ 200%, i.e., ₹2 per equity share of face value ₹1 each, out of the profits of the company for the financial year 2023-24, which shall be paid, subject to the approval of the shareholders in the ensuing AGM.

The production and sales for Q4 of FY24 stood at 2.05 MT and 2.01 MT respectively. Share of exports remained stable at 11% in Q4 of FY24 vis-à-vis 11% during the Q4 of FY23.

During FY24, gross revenue stood at ₹58,115 crore. Adjusted EBITDA stood at ₹10,231 crore (adjusted for foreign exchange of ₹30 crore) driven by a reduction in raw material costs, and an improved product mix. Profit after Tax (PAT) from continuing operations stood at ₹933 crore.

Also Read: Sanofi Q4 Results | Drug firm’s net profit, revenue in deep dive

Net debt stood at ₹11,203 crore as of March 31, 2024, against ₹9,115 crore as of December 31, 23. The balance sheet remains robust with Net debt to EBITDA at 1.10x as of March 31, 2024, against 0.92x as of December 31, 23.

Increased debt reflects higher payments on account of the completion of several projects in line with capex program. The total capex for the quarter was ₹2,523 crore and ₹8,517 crore for FY24, the company added.

The results came after the close of the market hours. Shares of Jindal Steel and Power Ltd ended at ₹939.30, up by ₹8.95, or 0.96% on the BSE.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sanofi Q4 Results | Drug firm’s net profit, revenue in deep dive

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Drug firm Sanofi India Ltd on Monday (May 13) reported a 77.3% year-on-year (YoY) dip in net profit at ₹136.6 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Sanofi India posted a net profit of ₹602 crore, the company said in a regulatory filing. The company’s revenue from operations slipped 74.3% to ₹732.4 crore against ₹2,851.1 crore in the year-ago period.

At the operating level, EBITDA dropped 73% to ₹219 crore in the fourth quarter of this fiscal over ₹804 crore in the corresponding period in the previous fiscal.

Also Read: Zomato Q4 Results: Blinkit turns EBIT positive; Other income aids profit

The EBITDA margin stood at 30% in the reporting quarter compared to 28.2% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The exceptional item for the quarter ended March 31, 2024, includes personnel separation cost amounting to ₹26.7 crore against a gain of ₹17.8 crore in the corresponding period in the previous fiscal.

The results came after the close of the market hours. Shares of Sanofi India Ltd ended at ₹8,050, up by ₹98.70, or 1.24%, on the BSE.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Finolex Industries declares dividend of ₹2.50, net profit at ₹165 crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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PVC pipes and fittings manufacturer Finolex Industries Ltd on Friday (May 10) reported a 1% year-on-year (YoY) decline in net profit at ₹164.9 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Finolex Industries posted a net profit of ₹166.5 crore, the company said in a regulatory filing. The company’s revenue from operations increased 8.3% to ₹1,235.4 crore as against ₹1,141.1 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA rose 4% to ₹208.9 crore in the fourth quarter of this fiscal over ₹217.5 crore in the corresponding period in the previous fiscal.

EBITDA margin stood at 16.9% in the reporting quarter as compared to 19.1% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Also Read: L&T declares final dividend of ₹28 per share with Q4 net profit beating estimates

The volume in Pipes & Fittings segment increased by 22.98% to 1,00,171 MT in Q4 of FY24 against 81,452 MT in Q4 of FY23. The volume in the PVC Resin segment was up 19.07% to 69,215 MT in Q4 of FY24 against 58,132 MT in Q4 of FY23.

FY2024

In the fiscal year 2024, Finolex Industries witnessed a decline in its total income from operations, which amounted to Rs 4,317.43 crore. This figure marked a decline of 1.81% compared to the previous fiscal year’s total income of Rs 4,397.05 crore.

In the Pipes & Fittings segment, there was a significant growth in volume, with an increase of 11.07% to reach 3,36,577 metric tonne in FY24, compared to 3,03,026 metric tonne in FY23.

The Resin segment experienced a decline in volume by 17.98% during FY24, with the volume falling to 1,96,542 metric tonne from 2,39,638 metric tonne recorded in FY23.

Finolex Industries saw an improvement in its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for FY24. The EBITDA stood at Rs 584.85 crore, reflecting an increase compared to Rs 292.54 crore reported in FY23.

Also Read: Bank of India Q4 net profit grows 7%, declares dividend of ₹2.80 per share

Moreover, the company’s bottom line also showed promising growth, with the profit after tax (PAT) increasing to Rs 455.30 crore in FY24, marking a notable rise from Rs 236.59 crore recorded in FY23.

The board has recommended a final dividend of ₹2.50 per fully paid-up equity share of ₹2 each (face value) i.e. 125% for the financial year ended March 31, 2024, subject to deduction of tax, as applicable and approval of Members at the ensuing forty-third annual general meeting.

The results came after the close of the market hours. Shares of Finolex Industries Ltd ended at ₹272.65, up by ₹4.50, or 1.68% on the BSE.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Kalyan Jewellers Q4 consolidated net profit up 97% to ₹137 crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Kalyan Jewellers on Friday reported a 97% growth in consolidated profit after tax (PAT) to ₹137.49 crore during the March quarter. The jewellery retailer’s PAT stood at ₹69.79 crore in the year-ago period, Kalyan Jewellers said in a regulatory filing.

Consolidated revenue from operations of the company grew 34% during the quarter under review at ₹4,534.93 crore as against ₹3,381.80 crore in the corresponding quarter of the previous year.

Also Read: Tata Power Q4 Results | Net profit jumps 15% to ₹895 crore, declares dividend of ₹2

The board of directors of the company has recommended a final dividend of ₹1.2 per equity share for the financial year ending March 31, 2024, subject to the approval of shareholders. This represents a payout in excess of ₹120 crore, more than 20% of the net profit generated during FY24, the company added.

“We completed an excellent financial year and have started the new year on a strong note despite continuing volatility in gold prices. We are witnessing encouraging momentum in consumer demand, especially around the wedding purchases during the current quarter and Akshaya Tritiya,” Kalyan Jewellers India Executive Director Ramesh Kalyanaraman said.

Shares of the company on Friday closed at ₹410.85, up 3.37% on the BSE.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Piramal Pharma Q4 net profit zooms to ₹101 crore, decalres dividend

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Piramal Pharma Ltd on Friday (May 10) reported a 102.1% year-on-year (YoY) jump in net profit at ₹101.3 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Piramal Pharma posted a net profit of ₹50.1 crore, the company said in a regulatory filing. The company’s revenue from operations increased by 18%% to ₹2,552.4 crore as against ₹2,163.6 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA jumped 50.9% to ₹529.9 crore in the fourth quarter of this fiscal over ₹351.2 crore in the corresponding period in the previous fiscal.

Also Read: ABB India beats the Street as net profit zooms 88% in first quarter

EBITDA margin stood at 20.8% in the reporting quarter as compared to 16.2% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation. Net debt or EBITDA improved from 5.6x at the start of the financial year to 2.9x at the end of FY24.

The board of directors has recommended a final dividend of ₹0.11 per equity share of ₹10 each for the financial year ended March 31, 2024, which will be paid or dispatched after the 4th Annual General Meeting, subject to the approval of shareholders of the company.

Nandini Piramal, Chairperson, Piramal Pharma, said, “FY24 has been a strong year for the company with all-round improvement, mainly driven by our CDMO business that delivered a robust 19% YoY revenue growth.

Also Read: Novartis India announces dividend of ₹25 per share, net profit slides 41% in Q4

We saw a significant increase in order inflows, especially for on-patent commercial manufacturing, amidst a difficult biotech funding environment. Contributions from our innovation-related work and differentiated offerings also increased in FY24.”

The results came after the close of the market hours. Shares of Piramal Pharma Ltd ended at ₹150.30, up by ₹2.25, or 1.52% on the BSE.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Union Bank of India announces dividend of ₹3.60 per share, Q4 net profit up 19%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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State-owned Union Bank of India on Friday (May 10) reported a 19% year-on-year (YoY) increase in net profit at ₹3,310.6 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter, Union Bank of India posted a net profit of ₹2,782.3 crore, the bank said in a regulatory filing.

Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, rose 14.4%, coming at ₹9,436.6 crore against ₹8,250.5 crore in the corresponding quarter of FY23.

Also Read: L&T declares final dividend of ₹28 per share with Q4 net profit beating estimates

The gross non-performing assets (NPAs) stood at 4.76% in the March quarter against 4.83% in the December quarter. Net NPAs came at 1.03% against 1.08% quarter-on-quarter (QoQ).

In monetary terms, gross NPA stood at ₹43,097.7 crore against ₹43,261.9 crore QopQ, whereas net NPA came at ₹8,989.9 crore against ₹9,351.2 crore over the December quarter.

The bank’s domestic deposits have increased by 8.42% year-on-year. Bank now have a total deposit base of ₹12,21,528 crore as of March 31, 2024. Total business of the bank increased by 10.31% year-on-year, wherein gross advances increased by 11.73% year-on-year and total deposits grew by 9.29% year-on-year. The bank has a total business of ₹21,26,412 crore as of March 31, 2024.

Retail, Agri and MSME (RAM) segments of the bank increased by 13.82% year-on-year, where 11.14% growth in Retail, 20.95% growth in Agriculture and 8.58% growth in MSME advances are achieved on a year-on-year basis. RAM advances as a percent of domestic advances stood at 56.90%.

Also Read: ABB India beats the Street as net profit zooms 88% in first quarter

Capital to Risk-weighted Assets Ratio (CRAR) improved from 16.04% as of March 31, 2023, to 16.97% as of March 31, 2024. CET1 ratio improved to 13.65% as of March 31, 2024, from 12.36% as of March 31, 2023. The bank’s Return on Assets & Return on Equity improved to 1.03% and 15.58% respectively during FY24.

The board of directors has recommended a dividend of ₹3.60 per equity share (36% of the face value of ₹10 per equity share) for the year ended March 31, 2024, subject to requisite approvals.

The results came after the close of the market hours. Shares of Union Bank of India ended at ₹142.05, down by ₹0.050, or 0.035%, on the BSE.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Bank of India Q4 net profit grows 7%, declares dividend of ₹2.80 per share

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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State-owned Bank of India on Friday (May 10) reported a 7% year-on-year (YoY) increase in net profit at ₹1,439 crore for the fourth quarter that ended March 31, 2024. In the corresponding quarter, Bank of India posted a net profit of ₹1,350 crore, the lender said in a regulatory filing.

Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, increased by 7%, coming at ₹5,937 crore against ₹5,523 crore in the corresponding quarter of FY23.

Bank of India’s net interest margin (NIM) at a global level witnessed a decline, standing at 2.92% in Q4 of FY24, compared to 3.15% in Q4 of FY23. It was 2.85% in Q3 of FY24. Similarly, the NIM for the domestic segment also experienced a decrease, registering at 3.30% in Q4 of FY24, down from 3.59% in Q4 of FY23, but up from 3.21% in Q3 of FY24.

Also Read: L&T declares final dividend of ₹28 per share with Q4 net profit beating estimates

The global return on assets (RoA) dipped slightly to 0.61% in Q4 of FY24 from 0.63% in Q4 of FY23. The cost to income ratio at the global level rose to 53.73% in Q4 of FY24, compared to 51.48% in Q4 of FY23.

Bank of India’s yield on advances at a global level improved by 52 basis points (bps) year-on-year (YoY), reaching 8.47% in Q4 of FY24, up from 7.95% in Q4 of FY23. However, the cost of deposits witnessed a notable increase, standing at 4.71% in Q4 of FY24, compared to 3.91% in Q4 of FY23.

The bank’s global business increased by 11.65% year-on-year from ₹11,85,438 crore in March 2023 to ₹13,23,515 crore in March 24. Global deposits increased by 10.21% year-on-year from ₹ 6,69,586 crore in March 2023 to ₹7,37,920 crore in March 24. Global advances increased by 13.52% year-on-year from ₹5,15,852 crore in March 2023 to ₹5,85,595 crore in March 2024.

Also Read: Novartis India announces dividend of ₹25 per share, net profit slides 41% in Q4

The board has recommended a dividend of ₹2.80 (i.e. 28%) per equity share  of face value of ₹10 each for the FY2023-24 subject to the approval of shareholders. Shares of Bank of India Ltd ended at ₹138.85, down by ₹0.15, or 0.11%, on the BSE.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

ABB India beats the Street as net profit zooms 88% in first quarter

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Electrification and automation major ABB India Ltd on Friday (May 10) reported an 87.6% year-on-year (YoY) jump in net profit at ₹459.3 crore for the first quarter that ended March 31, 2024, on strong growth momentum in orders with a healthy mix of short and long-term opportunities.

The company follows the January to December financial year.

In the corresponding quarter, ABB India posted a net profit of ₹245 crore, the company said in a regulatory filing. CNBC-TV18 poll had predicted a profit of ₹333 crore for the quarter under review.

The company’s revenue from operations increased 27.8% to ₹3,080.4 crore against ₹2,411 crore in the corresponding period of the preceding fiscal. CNBC-TV18 poll had predicted revenue of ₹2,880 crore for the quarter under review.

Also Read: IRB Infrastructure Q4 Results | Net profit surges 45%, dividend declared

At the operating level, EBITDA jumped 98.1% to ₹565.2 crore in the first quarter of this fiscal over ₹285 crore in the corresponding period in the previous fiscal. CNBC-TV18 poll had predicted an EBITDA of ₹404 crore for the quarter under review.

The EBITDA margin stood at 18.4% in the reporting quarter compared to 11.8% in the year-ago period. EBITDA is earnings before interest, tax, depreciation, and amortisation. CNBC-TV18 poll had predicted a margin of 14% for the quarter under review.

Total orders surged to ₹3,607 crore, the highest for the first quarter in the last five years. From the market point of view, the strongest growth was witnessed in data centres, smart buildings, expansion in tier-2 and tier-3 cities, energy and logistics.

The company’s cash position continues to remain robust at ₹5,036 crore at the end of Q1 2024 against ₹3,942 crore in Q1 of calendar year 2023.

Also Read: L&T declares final dividend of ₹28 per share with Q4 net profit beating estimates

“The increased demand for technologically superior solutions, coupled with the government’s capital expenditure focus on new-age themes such as energy efficiency, decarbonisation, and digitalization, has significantly driven our order momentum,” ABB India said.

The results came after the close of the market hours. Shares of ABB India Ltd ended at ₹7,182.15, up by ₹193.05, or 2.76%, on the BSE.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Novartis India announces dividend of ₹25 per share, net profit slides 41% in Q4

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Drug firm Novartis India Ltd on Friday reported a 41.6% year-on-year (YoY) decline in net profit at ₹14.6 crore for the fourth quarter that ended March 31, 2024.

In the corresponding quarter last fiscal, Novartis India posted a net profit of ₹25 crore, the company said in a regulatory filing. The company’s revenue from operations increased 6.7% to ₹81.2 crore against ₹76.1 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA grew 21.7% to ₹11.2 crore in the fourth quarter of this fiscal over ₹9.2 crore in the year-ago period.

Also Read: Tata Power Q4 Results | Net profit jumps 15% to ₹895 crore, declares dividend of ₹2

The EBITDA margin stood at 13.8% in the reporting quarter versus 12.1% in the fourth quarter of FY23. EBITDA is earnings before interest, tax, depreciation, and amortisation.

The board has recommended a final dividend of ₹25 per equity share (of the face value of ₹5 each) for the financial year ending March 31, 2024, subject to the approval of the shareholders of the company. The final dividend, if passed, will be paid on or after August 5, 2024.

The results came after the close of the market hours. Shares of Novartis India Ltd ended at ₹1,066.20, up by ₹12.40, or 1.18%, on the BSE.

Also Read: IRB Infrastructure Q4 Results | Net profit surges 45%, dividend declared

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Bank of Baroda’s Q4 net profit beats estimates; 370% dividend announced

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Bank of Baroda on Friday (May 10) reported a 2.3% rise in net profit for the fourth quarter of FY24. The bank’s performance surpassed the estimates of analysts, with net profit standing at ₹4,886.5 crore as opposed to the CNBC-TV18 poll projection of ₹4,576.2 crore.

Key highlights of Bank of Baroda’s Q4FY24 earnings include a loan growth of 13% year-on-year and 4% quarter-on-quarter.

Additionally, the Net Interest Margin (NIM) witnessed an improvement, reaching 3.27% compared to 3.10% in the previous quarter.

In terms of asset quality, the Bank of Baroda reported a reduction in its Gross Non-Performing Assets (NPA) ratio to 2.92% from 3.08% in the previous quarter.

The net NPA ratio stood at 0.68% in Q4FY24 compared to 0.89% in Q4FY23, while the Provision Coverage Ratio reached 93.30%.

However, slippages in the quarter increased to ₹3,200 crore from ₹2,618 crore QoQ. The slippage ratio in Q4 rose to 1.12% from 0.95% in Q3.

The lender’s net interest income for the quarter stood at ₹11,793 crore from ₹11,525 crore from last year. The bank saw a compression in its net interest margin which fell to 3.18% from 3.31% last year.

Total domestic deposits for the bank amounted to ₹11.28 lakh crore, reflecting a 7.7% annual growth from ₹10.47 lakh crore.

Domestic advances also witnessed a healthy increase of 12.9%, reaching ₹8.98 lakh crore in Q4FY24 from ₹7.95 lakh crore in Q4FY23.

Bank of Baroda also announced a dividend of ₹7.60 per equity share for the financial year 2023-24.

Through an exchange filing, the lender said that the board had recommended a dividend payout of 370% on each stock. The current face value of each share of Bank of Baroda is ₹2.

Accordingly, the 370% dividend translates into a payout of ₹7.60.

It has fixed June 29, 2024, to July 5, 2024, as book closure dates for its 28 AGM and dividend payment.

Shareholders having shares on the cut-off date of June 28 will be eligible for the payout.

In a noteworthy development, the bank reversed ₹31.32 crore in the March quarter of FY24 from the total ₹50.49 crore made on investments in alternative investment funds (AIF).

This reversal followed a clarification by the Reserve Bank of India (RBI) regarding AIF provisions guidelines.

Meanwhile, Bank of Baroda’s share price declined over 3% following the announcement of the Q4 results.

It settled 2.67% lower at ₹255.65 apiece on BSE.

ALSO READ | Bank of Baroda free to onboard customers via BoB World app as RBI lifts ban

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow