Latest Business, Finance, and Share Market News as of 10:00 am on May 21, 2024

The latest business news transcript at 10:00 AM on 21 May 2024 reveals some interesting developments in the Indian corporate sector. The balance sheets of leading companies have shown significant improvement, with debt to ebitda ratio dropping to 2.7x, the lowest in a decade. This positive trend is attributed to the smart recovery post-pandemic, despite total borrowings increasing marginally to Rs 26.23 trillion.

In the economy section, preparations for the full Budget 2024-25 are underway, with proposals and expenditure plans being finalized for presentation around July 10-12. The tight timeline is due to the upcoming general elections and the need for swift government formation. Meanwhile, the bond market is closely watching the RBI’s buyback of securities worth Rs. 60,000 crore to inject liquidity into the banking system.

In the industry sector, coal stocks at pithead and thermal power plants have seen a significant increase, with production growing at 7.26% over last year. State-owned Oil India reported a surge in consolidated net profit for the last quarter of FY24, with revenue from operations also showing a positive trend.

Lastly, stocks in focus today include Oil India, Lupin, Apollo Pipes, RVNL, and IRFC. Apollo Pipes reported a profit of Rs 6.90 crore in the fiscal fourth quarter, while RVNL secured an order worth Rs 148 crore from South Eastern Railway. Overall, the business landscape in India is witnessing dynamic changes, with companies adapting to market conditions and driving growth.