The development comes amid Japan's SoftBank booking an investment loss of 39.28 billion yen (USD 350 million) on its investments in India, including those in Ola and e-commerce company Snapdeal.
The meeting of the six-member Satyam Board, which started in Hyderabad on Wednesday, has been extended till Thrusday.
Joy Basu, chief financial officer of rediff.com, has been named the winner in the category of medium-sized businesses in the 6th Annual CFO Awards 2006.
Banks reported muted treasury gains during April-June of FY25 (Q1FY25) following Reserve Bank of India's (RBI's) revised norms on investment portfolio effective from April 1, 2024, despite softening of government bond yields. "Banks have reported muted treasury gains during Q1 of FY25 despite softening of yields across the curve. "The main reason was change in the investment valuation and classification guidelines by the RBI.
The board meeting, which was expected to be held on February 5, was brought forward by a day. "Announcements relating to critical leadership appointments are expected to be made at the board meeting," the company's internal newsletter stated.
'Primary buyers are commercial taxi and fleet operators and small businessmen.' 'CNG prices have been remarkably stable unlike petrol.'
Finance Minister Pranab Mukherjee gave the Business Today Best CFO in the Public Sector Award to Sarraf, ONGC said.
With an existing consumer base of 400 million across airports, electricity and gas distribution businesses, the Adani group is revving up its retail play. It is planning to use the 2.4 billion consumer interactions a year with group companies to push various products and services. The group has already launched the 'Adani One' super app that will eventually sell products across the spectrum, top executives said.
India's second richest person Gautam Adani received a total remuneration of Rs 9.26 crore in the fiscal year ended March 31, 2024, lower than most industry peers as well as his own key executives.
Investmentyogi tells you how to think like a CFO and manage your money like a professional.
Ex-CFO says new incumbent steps in at the right time, will be able meet to meet challenges.
Yahoo!'s current CFO, Blake Jorgensen announced his plans to leave the firm in February, just weeks after Carol Bartz took over the reins of the internet entity. Morse would be paid a salary of $500,000 and a 'sign-on bonus' of $500,000, according to Yahoo!'s regulatory filing with the Securities and Exchange Commission.
The ruling came as a consent order from Sebi following an investigation on insider trading in the shares of Wockhardt between September 1, 1998 and December 31, 1999. A Wockhardt spokesperson declined to comment.
Ranganath has held several leadership positions.
The government has suggested that the new Satyam Computer Services board should also look within the company to appoint a CEO and CFO.
High-value insurance policies experienced muted growth in the first six months of the current financial year after the Centre decided to tax such products in this year's Budget. Simultaneously, there has been a marked improvement in the growth of policies with premiums of 'less than Rs 5 lakh', mainly originating from smaller cities. During this year's Budget, Finance Minister Nirmala Sitharaman proposed that insurance policies (excluding unit linked insurance plans or ULIPs) with an aggregate premium exceeding Rs 5 lakh, and the maturity amount, would not be exempt from tax.
Apollo HealthCo Ltd (AHL), a subsidiary of Apollo Hospitals Enterprise (AHEL), on Friday entered into a binding agreement to raise equity capital of Rs 2,475 crore from Advent International (Advent), one of the world's largest private equity (PE) players. The transaction will also see the merger of two units under Apollo Healthco - its wholesale pharma distribution unit Keimed Pvt Ltd and online healthcare business Apollo 24'7. The merger will take place in a phased manner over the next 24-30 months.
Bandhan Bank's managing director (MD) and chief executive officer (CEO) Chandra Shekhar Ghosh (pictured), who has decided to step down, on Wednesday said the bank will need at least three months to identify his successor. He has also written to his employees, asking them "not to worry" over his surprise decision. "Whatever, our experience in the earlier selections, when we selected two executive directors on the basis of that experience we need a minimum three months of time for selection of candidates and then it will go to RBI and then whatever is the time taken by RBI for approval," Ghosh said.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
Corporate India is starting to step up its capital expenditure plans amid government incentives and signs of rising demand, company executives and analysts have indicated. This coincides with the Reserve Bank of India (RBI) recently citing a double-digit growth in private capital expenditure. Healthy balance sheets of banks and corporates, along with increasing capacity utilisation and improving business sentiment, are contributing to a favourable environment for sustained growth in private sector investments, the RBI said in its policy last week.
IT company Infosys on Thursday said its consolidated profit jumped 30 per cent to Rs 7,969 crore in the fourth quarter ended March 2024. The company posted a profit of Rs 6,128 crore in the same period a year ago, according to a regulatory filing. The consolidated revenue of Infosys during the reported quarter increased by 1.3 per cent to Rs 37,923 crore from Rs 37,441 crore in the same quarter a year ago.
Myntra founder Mukesh Bansal takes over as marketing chief.
As per the award, Infosys is required to pay Bansal the outstanding severance amount of Rs 12.17 crore, with interest
Hyderabad police on Thursday arrested two senior executives of scam-hit Karvy Stock Broking Pvt Ltd for allegedly involving in diverting funds raised from banks by pledging clients' securities as collaterals. According to a police press release, Rajiv Ranjan Singh, chief executive officer and G. Krishna Hari chief financial officer of Karvy were arrested basing on a complaint by IndusInd bank.
An interview with Wipro's CFO and executive director Suresh Senapaty where he explains what the new structure will mean for the company.
Arjun Mohan, CEO of India operations of Think and Learn, which owns Byju's brand, has resigned from the beleaguered firm, which on Monday also announced a business rejig consolidating its operations into three verticals. Mohan had joined Byju's in July last year as the CEO for international business after quitting rival UpGrad in February as CEO. Later, he was given charge of India operations in September after Byju's then CEO Mrinal Mohit resigned. After taking over the charge, Mohan undertook restructuring of the organisation which led to layoffs of around 4,000 employees at Byju's.
While the current headcount reduction has more to do with slowing demand, the rise of artificial intelligence will impact jobs in the future.
HDFC Standard Life's CFO and ED Vibha Padalkar shares her success mantras.
Sources within the Congress, including those who have been members of the teams that drafted its 2019 and 2024 Lok Sabha poll manifestos, said the Karnataka government decision lacked any empirical basis.
Wipro CFO Suresh C Senapaty on Thursday said there is hope of corporate sector sentiments improving after P Chidambaram assumed charge as Union Finance Minister and wanted the Centre to convert it into policy action.
Arun Duggal, chief financial officer of the Noida-based software services company HCL Technologies, has resigned.
'We are looking at the next target which is to be a $1 billion ARR firm in the next 4-5 years.'
'Our target will come from rural areas as there are more outlets there.'
With the rush of growth after the pandemic slowing down, many leaders are moving to firms that may be smaller but are growing much faster and have the headroom to grow.
Byju Raveendran, chief executive officer (CEO) and co-founder of Byju's, along with its nearly 51 investors, are responsible for the beleaguered edtech firm's current predicaments, said Ronnie Screwvala, executive chairman and co-founder of edtech platform UpGrad. Speaking at the second edition of the ASU+GSV & Emeritus Summit in Gurugram, he emphasised that "one rotten apple" should not affect the entire edtech sector.
Pankaj Vasani tells us how he moved from an unhealthy life to walking and running 20 kilometres a day.
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.
'If you look at assets truly working for us, you should look at Aakash and Great Learning.'
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