IT Stocks: Accenture posted strong Q1 FY25 results, reporting revenue of $17.7 billion, a 9 percent YoY increase in US dollar terms and 8 percent in local currency. This impressive performance drove a 5 percent surge in its shares during premarket trading on Thursday, December 19. Additionally, the company revised its annual revenue growth forecast upward to 4-7 percent, compared to its previous range of 3-6 percent. However, the midpoint of this forecast still falls slightly below analysts' expectations of 5.63 percent.
KPI Green Energy: KPI Green Energy has set January 3 as the record date for determining shareholder eligibility for its proposed bonus issue of equity shares. The bonus will be issued in a 1:2 ratio, pending shareholder approval via postal ballot. Initially recommended on November 14, the bonus shares are slated for dispatch by January 14, 2025. Alongside this, KPI Green has partnered with the Rajasthan government to develop hybrid solar and wind power projects in Jaisalmer.
Bharti Airtel: Bharti Airtel announced the prepayment of its remaining spectrum liabilities from 2016, amounting to ₹3,626 crore. This move eliminates an interest burden exceeding 8.65 percent. Over the calendar year, Airtel has prepaid ₹28,320 crore of spectrum-related debt.
IndiGo: IndiGo, operated by InterGlobe Aviation, approved an inter-corporate loan of up to $43 million for its subsidiary, IndiGo IFSC. The loan, aimed at funding aircraft acquisitions, carries an interest rate linked to the six-month SOFR benchmark plus a spread of 275 basis points. The loan has a 10-year tenure with monthly interest payments and a principal repayment at the end.
AU Small Finance Bank: AU Small Finance Bank has received the Reserve Bank of India’s (RBI) approval for the reappointment of Harun Rasid Khan as its Part-Time Chairman. The approval is for a three-year term, effective from December 28, 2024. The reappointment had been proposed earlier in October 2024, pending RBI’s clearance. The bank confirmed today that the necessary regulatory nod has been secured.
Hyundai Motor India: Hyundai Motor is set to become the first automaker in the country to incorporate locally manufactured battery cells in its electric vehicles. This development follows the company’s signing of a binding term sheet with Exide Energy Solutions, a subsidiary of Exide Industries. The agreement focuses on the production and supply of lithium-iron-phosphate (LFP) battery cells tailored for Hyundai’s EVs in the Indian market. This initiative not only enhances Hyundai’s cost competitiveness but also aligns with India’s carbon-neutrality objectives by fostering localised battery sourcing.
JK Cement: JK Cement successfully bid for the Mahan coal mine in Singrauli, Madhya Pradesh, boasting a geological reserve of approximately 107.4 million tonnes and an annual capacity of 1.2 million tonnes. This marks JK Cement’s second coal block acquisition, aligning with its goal of self-reliance for current and future cement plants. Surplus coal from the mine will be sold commercially.
Dhanlaxmi Bank: Dhanlaxmi Bank has approved a ₹297.54 crore rights issue, with shares priced at ₹21 each. The rights issue will be open to existing eligible shareholders from January 8, 2025, to January 28, 2025.
Parle Industries: Parle Industries plans to implement a minimum 5 percent price increase across its product range starting January 2025. This adjustment will affect a variety of items, including bread, biscuits, rusks, cakes, and snacks, reflecting rising input costs.
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.