PPFAS MF held cash reserve of 20 percent in February, up 8 percent on month.
Companies would rather hold cash to fund working capital requirements or potential acquisition opportunities.
The funding for the Elitecore acquisition would be through internal accruals said Anand Agarwal, CEO, Sterlite Technologies.
Ambuja Cements managing director Onne Van Der Weijde, in an interview to CNBC-TV18, explains that a restructuring of operations is more cost-effective and offers more synergies. He adds that deployment of cash does not deplete Ambuja‘s cash reserves significantly and would still allow for acquistions and expansion.
The healthcare technology industry is expected to become mature and stable by the end of Financial Year 2013, with an expanding net margin and steady Selling and General Administrative expenses.
State-owned telecom major BSNL's cash reserves declined by a whopping 96 per cent to Rs 1,214.44 crore in 2011-12 from Rs 29,355.5 crore 2009-10.
Hitesh Oberoi, CEO & MD, Info Edge explains on CNBC-TV18, post announcement of results, that the company is adequately cushion by cash reserves of close to Rs 500 crore and hence there arose no need to raise funds. Oberoi adds that the company‘s realty arm 99acres.com and education portal Shiksha.com have performed well
Nokia reported another quarterly loss and dwindling cash reserves on Thursday, but results were better than expected ahead of next month's launch of new smartphones it hopes can win back market share from Apple and Samsung.