Stocks To Watch: ABFRL, Infosys, RIL, Airtel, Vi, Sanofi, HAL, Aurobindo Pharma
Aditya Birla Fashion and Retail: ABFRL is contemplating a vertical split of its Madura Fashion & Lifestyle division into an independent publicly traded entity, as stated in a stock exchange filing on Monday. This proposed split is expected to result in two separate publicly traded companies, each functioning as an independent growth platform with unique capital structures and concurrent opportunities for value creation, ABFRL said.
In a recent meeting, the board of ABFRL gave the company's management the go-ahead to assess the feasibility of a vertical split of the Madura Fashion & Lifestyle division from ABFRL into a separate publicly traded company, the statement revealed. Infosys: The IT company announced on Monday that it has received a tax demand of ₹341 crore for the assessment year 2020-21 from the Income Tax department, on March 31, 2024.
Infosys said it is examining the impact of this order on its financial statements for the quarter and fiscal year ending on March 31, 2024. The company is also considering the possibility of filing an appeal against this order.
Reliance Industries, Bharti Airtel, Vodafone Idea: Reliance Jio, the largest telecom company in India and a subsidiary of Reliance Industries, saw an increase of 41.78 lakh mobile subscribers in January 2024, bringing its total mobile user base to 46.39 crore. Bharti Airtel, led by Sunil Mittal, also experienced growth, adding 7.52 lakh wireless subscribers and raising its total mobile count to 38.24 crore during the same period.
Conversely, Vodafone Idea experienced a loss of 15.2 lakh wireless users, resulting in a mobile subscriber base of 22.15 crore, according to TRAI data. Sanofi India: Rodolfo Hrosz, managing director of Sanofi India, said in an
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