Apollo Hospitals Enterprise Ltd. promoters would reduce the company’s pledged shareholding by divesting stake in their insurance joint venture, according to Krishnan Akhileswaran, the Apollo Group’s chief financial officer told, “there are plans to divest stake in Apollo Munich already. This should significantly bring down (the stake) to less than half the current number.” Revenue rose 16.3 percent to Rs 2167.1 crore. Net profit up 28.7 percent to Rs 76.7 crore. Ebitda increased 24.2 percent to Rs 265.7 crore. Margin was 12.3 percent versus 11.5 percent. Akhileshwaran also said that Apollo Hospitals would pare its debt as it’s at the end of its capital expenditure cycle. The company announced its results for the quarter ended March on Thursday. Read EquityPandit’s Technical Analysis of In

Tata Consultancy Services (TCS), a prominent global IT services, consulting and business solutions organization, and the Wyoming Department of Workforce Services (DWS), have declared the launch of a new, secure cloud-based Unemployment Insurance (UI) Tax system, completing a system-wide upgrade for the WYUI (Wyoming Unemployment Insurance) explication. Debashish Ghosh, President, Public Services, TCS said, “our capability to digitally transform businesses through our Business 4.0™ thought leadership framework and digital technology has enabled us to move Wyoming's entire Unemployment Insurance system to a secure cloud system in record time." The WYUI tax and benefits solution is a fully modernized and scalable Unemployment Insurance platform that improves the way employers interact with the state. The mode

Reliance Capital Ltd., supervised by Ambani, is in talks to shape a deal to sell Mumbai-based Reliance General Insurance to Hero FinCorp Limited. Negotiations are ongoing and may not result in a deal. The plan to sell the fully-owned insurance unit is part of efforts by the former billionaire to cut his conglomerate’s liabilities after a debt-fueled expansion in the past decade led to the collapse of his telecom unit and placed other businesses under stress. Read EquityPandit’s Technical Analysis of Indian Stock Market  Reliance Capital earlier this month protested a three-step downgrade by Care Ratings to its credit score, saying the rating company didn’t fully factor in the impact of its plan to raise more than 100 billion rupees via asset sales and cut overall debt by more than half this financial

Oil and Natural Gas Corporation Ltd.’s quarterly profit went down the most in 13 quarters, missing estimates, because of lower oil prices and higher costs. Total profit dropping to 51 percent sequentially Rs 4,045 crore in the January-March period, the state-run oil and gas explorer said in an exchange filing. The company’s other expenses rose 49 percent over the preceding quarter to Rs 5,760 crore. Revenue fell 3.18 percent is the biggest drop in 12 quarters to Rs 26,758 crore. But that’s higher than the Rs 25,233-crore estimated. ONGC’s net realization was at $61.29 a barrel versus $66.4 in the previous quarter. It's crude sales were down 4.9 percent year-on-year to 5.9 million metric tonnes and gas sales were up 7.9 percent to 6.558 billion cubic meters. Read EquityPandit’s Technical Analysis O

Around 8,000 guests are expected to witness the grandeur of India’s 15th  Prime Minister Narendra Modi’s swearing-in ceremony. The grand ceremony is scheduled to begin at 7 PM at the Rashtrapati Bhavan. This ceremony marks the biggest ever event which will be held in the historic place. The swearing-in ceremony will be attended in accordance with the government’s “Neighbourhood First” policy and subsequently attended by the leaders of  BIMSTEC member countries. In addition to the world leaders, chief ministers, party leaders, diplomats, ambassadors, members of the opposition and celebrities will also contribute their time to the oath ceremony. More than 100 Non- Residents of India (NRI) also, fly to Delhi to witness the swearing-in ceremony of the Prime Minister. Read EquityPandit’s Technica

The Reserve Bank of India (RBI) has modified its master direction on Know- Your-Customers(KYC) for regulated entities (REs). Amongst the important changes is allowing banks to carry out Adhaar authentication or offline verification of individuals who voluntarily use his Aadhaar number for identification purpose, and adding ‘proof of possession of Aadhaar number’ to the list of Officially Valid Documents (OVD). In addition to this, regulated entities other than banks can verify a customer through offline mode under the Aadhaar Act with his/her consent. “For existing bank account holders, PAN or Form No 60 is to be submitted within such timelines as may be notified by the government, failing which the account shall be subject to temporary ceasing till PAN or Form No 60 is submitted." declared the central b

The country's largest car manufacturer, Maruti Suzuki India, has announced on Wednesday, its plan to invest around Rs 24 crore to set up a 5 MW solar power plant at the Gurugram facility. The car giant plans to go the eco-friendly way and harness solar power to meet its energy needs. The solar the plant will aggregate the power generating capability at the manufacturing plant. This plan is expected to give an annual output of 7,010 megawatt-hours (MWH). The automobile giant said, in an official statement, that the power generated from the solar power plant will be in sync with the captive power plant and will meet the internal energy needs of the Gurugram facility. Read EquityPandit’s Technical Analysis of Nifty Auto "The company recently laid the foundation stone for a 5 MW Solar Power plant at the

Telecom giant Bharti Airtel on Wednesday has announced the completion of its merger with Bharti Digital Networks Pvt. Ltd, formerly known as Tikona Digital Networks Pvt. Ltd. Airtel had declared in its acquisition of the 4G the business of Tikona in March 2017. The merger also included acquisition of broadband spectrum and 350 sites across five different circles, for an approximate amount Rs 1,600 crore. "The amalgamation of Bharti Digital Networks Private Limited with Bharti Airtel Limited has been completed today (Wednesday) upon the filing of a certified true copy of the order of the Hon’ble National Company Law Tribunal, New Delhi with the Registrar of Companies,” Airtel said in a  regulatory declaration. Read EquityPandit’s Technical Analysis of Nifty Tikona has a vast presence in the 4G segm