TIM shares rose by 2.2% to 0.227 euro per share in early trading on the Milan stock market on Monday after the Italian telecom giant confirmed its 2024-2026 guidance and integrated last Thursday’s market communication with data on expected cash flow.
Following an extraordinary board meeting on Sunday TIM said it expected “its pro-forma net debt, after the Netco transaction, to be around 7.5 billion euros at the end of 2024” and “net cash flow to be around zero in 2025 and around 500 million euros in 2026, normalized to 800 million”.
The company also said “any upside to the
Public-sector banks asked to submit three-year business plans by March-end | Banking
The Center on March 18 directed Public-Sector Banks (PSBs) to submit their business plans until 2026-2027 (FY27) by the end of March, The Economic Times reported. The proposed plans will then be assessed on a quarterly basis by government-nominated directors on the banks’ boards, the report said, citing an official.
The business plans will be required to cover strategies related to increasing low-cost deposits, raising capital, resolving bad loans, improvements in cybersecurity and financial outreach, the report added.
Earlier this month, the finance ministry had directed PSBs