Thu, Feb 1, 2024 2:17 PM
Interim budget boosts electronics PLI scheme, allocating Rs 6,200 cr
A Flip by Shubhangi Gupta
Apollo Micro Systems' share price dropped over 5% intraday on Friday despite the company announcing a fundraise move, with shares dipping to ₹119.55 from an opening of ₹129.20, although it has gained 24% in the last month and rebounded from November lows. Apollo Micro Systems will issue up to 3.34 crore preferential shares at ₹114 each, aggregating to ₹381 crore.
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According to news reports, TVS Mobility, the family business of TS Rajam and his successors, has reached an agreement with many lenders to raise Rs 1,800 crore in debt through a three-tranche loan structure. The money will be used for debt reduction and capital expenditures across all of the closely owned companies.
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TCS CEO K Krithivasan reports increased momentum in artificial intelligence adoption, with more generative AI proof of concepts moving into production, and continued client investment in AI transformation, with the company managing over 600 AI projects. TCS' consolidated net profit grew 12% year-on-year to Rs 12,380 crore in the December quarter.
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