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In September this year, Glenmark Pharmaceuticals said its board has approved to divest 75 per cent stake in its subsidiary GLS to Nirma Ltd for Rs 5,651.5 crore. ....
Despite the global challenges of high interest rates and geopolitical uncertainties, the economy remains resilient, buoyed by rising domestic demand and sectoral recovery. The outlook for H2 FY2023 and FY2024 looks positive, suggesting a resurgence in deals as market valuations stabilise. The financial health of the Indian companies is underscored by data from S&P Global Ratings, which projects a remarkable 50% increase in EBITDA by FY2024, while debt levels remain stable. This reflects a positive outlook for the corporate sector, demonstrating the strength of India s economy in the face of global adversity. ....
The company posted a consolidated net loss, from continuing operations, of 2.01 billion rupees ($24.14 million) for the three months ended Sept. 30, from a profit of 1.54 billion rupees a year ago ....