FMCG major Hindustan Unilever on Wednesday reported a 1.53 per cent decline in consolidated net profit to Rs 2,561 crore for the fourth quarter ended March 31, 2024 due to factors such as deflation and softening of commodity prices. The company had posted a net profit of Rs 2,601 crore in the year-ago period, according to a regulatory filing from HUL. Net sales of Hindustan Unilever Ltd (HUL) were almost flat to Rs 15,013 crore in the March quarter.
It was a replay of the annual general meetings of the cable companies of the M P Birla group last month even as the Birla side raised "illegalities" in the latest poll results.
Artificial Intelligence-first business strategy adopted by Infosys is working well for the company despite unresolved ethical and IPR issues around the technology, Infosys chairman Nandan Nilekani said on Wednesday. In his address at Infosys' 42nd Annual General Meeting, Nilekani said the company can be more efficient while nurturing readiness for growth, given its performance in challenging scenarios created by inflation, interest rates, geopolitics, demand volatility and supply chain dislocations. "Several practical, ethical and intellectual property-related issues, when it comes to AI remain unresolved.
The all-powerful working committee of the Board of Control for Cricket in India retained former India all-rounder Ravi Shastri as Director of the Indian cricket team till next year's ICC World Cup while deciding to hold its Annual General Meeting in Chennai on November 20.
A defiant N Srinivasan was elected unopposed as BCCI President for a third year during the Board's AGM in Chennai on Sunday even though he will not take charge till further orders from the Supreme Court.
L&T will give Rs 6 per share special dividend to shareholders for the six decades that company patriarch A M Naik served with the engineering and construction major, S N Subrahmanyan, the CEO & MD of the infrastructure major said.
Indian Oil Corporation could become the first PSU to welcome political representatives on its board of directors as the government seeks to replace two independent directors next week.
The issue also underscores the growing scrutiny by investors and voting advisory firms of the performance of board members.
Mukherjee, 60, responsible for Asia, Africa, the CIS, mining, stainless and pipes and tubes, will retire on May 13, the date of the company's annual general meeting, a company release said. The board of directors will propose to the AGM of shareholders that he will be appointed as a non-executive member of the Company's Board of Directors effective from that date.
BCCI president Shashank Manohar had made a fervent appeal to the Board's members ahead of its 86th AGM to lend their support to a few decisions which, according to him, were needed to protect the autonomy of the Board during its difficult times.
Anmol, who has a degree from Warwick Business School in the UK, has also been visiting branches and meeting employees across businesses in different regions to get exposure and detailed understanding of businesses at grass-root level in the past two years
The BCCI is planning to start the Women's IPL by 2023 while four exhibition games make a return this season after a one-year gap.
Chairman A M Naik said H2 of 2020-21 will herald better economic and business activity in terms of tendering, good liquidity, as well as revival of labour and supply chains.
Jay Shah, son of Union Home Minister Amit Shah, will continue as BCCI secretary for his second consecutive term.
Banerjee, who said she would have spoken out on the issue even if master batsman Sachin Tendulkar was similarly deprived, alleged that Ganguly was deprived of the chance to fight the election to "secure someone else's interests".
Following the SGM in Ahmedabad, BCCI secretary Jay Shah said the World Cup schedule is expected to be announced during the WTC Final.
BlackRock has again reduced the valuation of its share in edtech firm Byju's - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.
"The PCB is wondering, in what capacity has Jay Shah given the statement that the ACC will look to relocate the Asia Cup to the UAE instead of Pakistan because the hosting rights were awarded by the executive board of the ACC, not the President," the PCB source said.
The ICC from the next cycle will award the same prize money to men's and women's champions and runners-up teams at its global events.
Kamlesh Patel was tasked with navigating Yorkshire County Cricket Club through a racism scandal involving British Asian cricketer Azeem Rafiq.
Roger Binny was elected unopposed at the BCCI's AGM in Mumbai alongside Jay Amit Shah, who was re-elected secretary for a second successive term.
Digital, cloud, engineering services, and cybersecurity will drive Wipro's growth. 'Based on approval from the board, we have decided to step up our investments significantly in these four big bets,' Premji said in his last address as executive chairman.
New Delhi Television (NDTV) has deferred its Annual General Meeting (AGM) by a week to September 27, the company said in a regulatory filing on Sunday. The AGM was originally scheduled to be held on September 20. The media company said that the deferment was due to the processes required after the notice and public announcement of the open offer made by Vishvapradhan Commercial (VCPL), an indirect subsidiary of Adani Enterprises, to its public shareholders.
N Srinivasan, currently the Cricket Board's secretary, is all set to be elevated as the next president-elect at the BCCI's 81st Annual General Meeting in Mumbai on Wednesday.
Vodafone Idea (Vi) is working on a fresh business plan that could alter its funding requirements. Addressing shareholder queries at the company's annual general meeting (AGM) on Wednesday, Vi chairman Himanshu Kapania said the exact amount will be worked out upon submission of a new business plan. "The management is working on a new business plan and will come to the board with the funding requirements," Kapania told shareholders in his first AGM as chairman.
Even as the corporate battle over Zee Entertainment Enterprises (ZEEL) has reached the Bombay high court, another Essel Group firm - Dish TV India - is gearing up for a legal battle with YES Bank by planning to move the National Company Law Tribunal to appoint six of its nominees on the board of the loss-making company. While Dish TV said YES Bank has acquired 26 per cent stake by invoking the pledged shares of Essel Group promoter, it also said YES Bank must make an open offer to shareholders of the company, according to the Securities and Exchange Board of India (Sebi) takeover code. This, as YES Bank is seeking to take control of the company, said Dish TV.
The meeting, slated for October 26, will not be held as the Supreme Court will hear the BCCI's appeal against the Madras HC order.
"Don't forget that there is an ICC chairman's nomination to be filed on October 20. Whether the powerful people in the BCCI have a change of heart, is the question," he said.
Former BCCI president Narayanswami Srinivasan who has been at the centre of attention following Supreme Court's decision to allow modifications relating to the age-cap of 70 years for representation to the International Cricket Council.
Australia signal Warner ban to be revoked after integrity code review
All three observers appointed by Kolkata high court -- K N Singh and M M Punchi and S C Sen -- were present at the meeting.
Secretary XI beats President XI in friendly on eve of AGM meeting.
Jay Shah replaces Bangladesh Cricket Board (BCB) chief Najmul Hasan Papon.
Eicher Motors' shareholders in its recently held annual general meeting (AGM) have rejected a proposal for re-appointment of Siddhartha Lal as the company's managing director for a period of five years with effect from May 1 this year. During the company's 39th AGM, which was held earlier this week, the members also rejected the proposal of increasing Lal's remuneration. While 73 per cent of the votes favoured the re-appointment, the rest 27 per cent were against it.
Fearing legal repercussions, N Srinivasan refrained from staging a comeback as Board of Control for Cricket in India president but attended the Board's working committee meeting which decided to have its crucial Annual General Meeting on September 29 in Chennai.
The selection committee, headed by MSK Prasad, is nowhere close to completing its tenure as per the new BCCI constitution, but new Board president Sourav Ganguly will decide whether the panel will complete the mandated five years in office.
The Board of Control for Cricket in India, on Tuesday, decided to hold its much-delayed Annual General Meeting on December 17 even as it stood firmly behind embattled president-in-exile N Srinivasan after he was cleared of IPL fixing charges by the Supreme Court-appointed probe committee.
"I've no rival in the CAB, everyone is my friend here. There are new and experienced people here to run the show. I'll also be around and they will get me at times," he added before leaving the Garden.
Billionaire Mukesh Ambani on Monday laid bare the succession plan at India's most valuable company, identifying twins children Akash and Isha for telecom and retail leadership, and youngest son Anant for new energy unit. He, however, insisted he isn't retiring yet and will "continue to provide hands-on leadership as before". At the annual shareholders' meeting of Reliance Industries Ltd, he said the robust architecture that he has announced will ensure the firm remains "a unit, well-integrated and secure institution even as it develops existing businesses and adds new growth engines."
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