Tue, Nov 5, 2024 4:57 PM
Titan Q2 results: Net profit declines 25% to Rs 705 crore
A Flip by Shubhangi Gupta
Indian Hotels Company (IHCL) on Tuesday announced the acquisition of a majority stake in the Ambuja Neotia Group's Rajscape Hotels (RHPL), which manages a portfolio of 19 resorts and hotels under the Tree of Life Resorts and Hotels brand. IHCL in an exchange filing stated that its board has approved the execution of an agreement to acquire about 55% equity shares.
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Arvind SmartSpaces plans to raise Rs 400 crore by way of issue of equity shares through inter alia, preferential issue, qualified institutions placements, the company informed in a BSE filing. The board of directors of the company approved raising of funds by way of one or more public and/or private offerings and/or on a preferential allotment basis and/or a QIPs.
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Jeweller and watchmaker Titan Company's management reduced its EBIT margin guidance to 11-11.5 percent for FY2024-25, cutting it from the 11.5-12.5 percent band shared earlier."Given what we have done in H1, I think FY25 looks like more between 11 and 11.5 percent. Maybe we can go back to our original guidance for the next year," said Ashok Sonthalia, Titan's Chief Financial Officer.
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