CEO Financial News

India Inc was less generous with dividends in FY24 than in previous 9 years amid an increase in capital expenditure with average capacity utilisation exceeding the long-term average. The dividend payout ratio was 34% in FY24, down from 43% in FY23 and 37% in FY22. Including buybacks, the payout was 38% in FY24 compared with 44% in FY23 or 41% in FY22. The dividend payout ratio is the proportion of a company's earnings paid to shareholders as dividends. This payout tends to be lower in times when companies spend more on expansion. Companies with a high cash flow in mature industries tend to have higher dividend payout ratios. About 1,300 companies paid ₹4.15 lakh crore in dividends in FY24, compared with their standalone net profit of ₹12.24 lakh crore. Additionally, 41 companies spent around ₹50,750 crore on share buybacks in FY24. The dividends paid in FY23 amounted to ₹4.44 lakh crore, while money spent on share buybacks was ₹21,500 crore.

Mint, B. Gopkumar, the CEO of Axis MF, discusses the fund house’s efforts to turn its story around. Edited excerpts: Over the last three or four quarters, we have restructured our portfolios.

Mint explores the pros and cons of AI’s growing influence, from AI CEOs and assistants to realistic AI deepfakes and voice clones. Zara Shatavari, who has over 7,100 followers on Instagram, promotes health and fashion. She is an AI-generated avatar like the other nine finalists at the World AI Creator Awards (WAICA) Miss AI Competition.

Also Read: Bill Gates speaks on transformational impact of AI: 'Job of software engineers will…..'Bill Gates praised Indian software engineers working at Microsoft for their solid skills. ‘’We hired very smart IT graduates and brought them to Seattle.

In the ongoing bankruptcy proceedings of FTX, three separate groups have recently filed claims over the assets seized from Sam Bankman-Fried following his criminal conviction.

Mint could not independently verify the value of the contract. “The deal would include Wipro handling Standard Chartered’s data transformation work and IT infrastructure. There will be a digital aspect to it as well," said one of the two people, seeking anonymity.

startup's decision-making standards.The strategy works for Honasa Consumer, the parent company of Mamaearth. Honasa, run by Ghazal and her husband Varun Alagh​, has other skin-care brands like The Derma Co., Dr Sheth’s, Aqualogica and Ayuga, haircare brand BBlunt and make-up brand Staze 9to9.“Imagine your consumers sitting in every strategic meeting you hold.

April 2024 as buyers took fresh positions amid early onset of summer. The country had imported 23.05 MT of coal in the year-ago period, according to data compiled by B2B e-commerce company mjunction services ltd. This comes amid coal and mines minister G Kishan Reddy stating that India should increase domestic production of the fossil fuel and reduce coal imports. «India's coal and coke imports in April 2024 through the major and non-major ports increased by 13.2 per cent over April 2023,» the data showed.

Mahindra Group is looking for partnerships with global players for local production of battery cells in order to cater to expected increase in demand for electric vehicles in the future, according to a top company executive. In an interaction with PTI, Mahindra Group MD and CEO Anish Shah said the company is looking at a 2030 timeframe for the possible listing of its electric vehicle arm Mahindra Electric Automobile Ltd (MEAL). «One area that we continue to look at more closely is cell manufacturing and that is something where there are various considerations… if we feel it's essential for us, we will look at a partnership for cell manufacturing,» he stated. He further said: «We will look at a global technology partner, and potentially at private equity partners as well because we will not put the entire capital.» The initiative, if it materialises, would enable local production of battery cells in India, Shah said.

While life insurance policies offer financial protection and investment opportunities, one of the critical aspects is the lock-in period. It has significant implications for liquidity, reversal of tax benefits, and the overall utility of the policy.

Instant financial gains in life give you an opportunity to either use them to reduce your financial burden or make the most of them by investing the gains aptly. Gratuity is one such monetary benefit given by an employer to an employee. It is a lump sum amount given at the time of retirement, resignation, or upon an employee’s death or disability.

NTA) is set to conduct reconduct the National Eligibility cum Entrance Test (Undergraduate) [NEET (UG)] – 2024 for 1563 students on 23 June 2024. These students were given compensatory marks because they had experienced time loss during the originally scheduled examination on 05 May 2024. However, a panel decided to cancel the grace marks following allegations of discrepancies, thus necessasiating the re-exam.

Sundar Pichai, the CEO of Google, said in a New York courtroom Friday that he never discussed a possible takeover of Ozy Media. Pichai is the highest-profile witness to testify so far in the trial of Carlos Watson, the founder of Ozy who is accused of misrepresenting his company's financial results, funding and audience data to investors and lenders from 2018 to 2021.

“After feeling overlooked among popular creators, my journey took a turn when I joined Moj in June 2022 where tremendous viewer support and new gifters increased my earnings,” Munde, 23, told ET.

technology is that we know it can help in key areas, and we know it can create educational tutors. We have seen several projects in India and the US that are showing great results. The potential is incredible if we knew that all it did was make jobs more productive," Bill Gates said.

Swedish accident investigators say the country’s oldest amusement park did not properly test new parts for a roller coaster that derailed last year

New laptops equipped with Microsoft Windows start shipping to customers next week but without a flagship feature called Recall that drew concerns about privacy and cybersecurity

OpenAI has appointed a former top U_S_ cyberwarrior and intelligence official to its board of directors, saying he will help protect the ChatGPT maker from “increasingly sophisticated bad actors.”

A shift in opinion by Vanguard, Tesla’s largest outside investor, played a pivotal role in passing a record-setting pay arrangement for CEO Elon Musk during the company’s annual meeting on Thursday, according to Reuters.

Infosys Q1 Results: India's second-largest software services major will hold its board meeting on July 18 to consider and approve its April-June quarter results of the current fiscal (Q1FY25). The financial results of the June quarter will be presented to the Infosys' Board of Directors on July 18, 2024 for their approval.In a regulatory filing to the stock exchanges, Infosys said, ‘’The Board of Directors of the Company will be held on Wednesday and Thursday, July 17 and 18, 2024 inter alia to:--Approve and take on record the audited consolidated financial results of the company and its subsidiaries as per Indian Accounting Standards (INDAS) for the quarter ending June 30, 2024;--Approve and take on record the audited standalone financial results of the company as per INDAS for the quarter ending June 30, 2024; and--Approve and take on record the audited financial statements of the company and its subsidiaries as per INDAS and IFRS for the quarter ending June 30, 2024.'' On April 18, the Sahil Parekh-led tech giant reported a rise of 30 per cent in net profit at ₹7,975 crore in the January-March quarter of FY24, compared to ₹6,134 crore in the year-ago period.

Tesla shareholders voted Thursday to restore CEO Elon Musk’s record US$44.9 billion pay package that was thrown out by a Delaware judge earlier this year, sending a strong vote of confidence in his leadership of the electric vehicle maker.