CEO Financial News

Kotak Mahindra Bank: The bank's PAT for FY24 increased by 26% YoY to ₹13,782 crore. The PAT for Q4FY24 was ₹4,133 crore, an 18% YoY increase. The bank's NII for FY24 increased by 21% YoY to ₹25,993 crore.

Indians are one of the largest leaders of innovation in Silicon Valley and America's tech industry cannot survive without them, the CEO of the Silicon Valley Central Chamber of Commerce has said. «I don't have the new figures, but what matters is that we (Indians) are such impactful contributors,» Harbir K Bhatia told PTI in an interview.

Berkshire Hathaway meeting gave shareholders their best chance yet to hear from the man who will one day take over as CEO when Warren Buffett is gone, but Buffett said for the first time Saturday that Greg Abel should also take responsibility for the company's investments after he takes over, raising new questions about the succession plan. Abel put his encyclopedic knowledge of the utility business that he led directly for years on display and delved into railroad operations and potential acquisitions that Berkshire pursued while sharing the stage with Buffett all day.

₹700 crore to ₹15,000 crore. "Now, if Titan has good succession planning, the question or observation to ask is, what Titan is doing should ideally be happening at other companies. Identifying leaders early and then grooming them is the starting point," said Tandon.

Here are top 5 news of the day: Belstar Microfinance Ltd submitted draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (Sebi) to raise ₹1,300 crore through an initial public offering (IPO). According to the draft red herring prospectus (DRHP), the initial public offering (IPO) of the Chennai-based company comprises a ₹1,000 crore fresh issue of equity shares and an offer-for-sale (OFS) of ₹300 crore by existing investor shareholders.

Maryland Motor Truck Association President and CEO Louis Campion on the recovery and impact to the trucking industry from the Francis Scott Key Bridge collapse.

ALSO READ: Sunil Gavaskar fumes on air as Virat Kohli rants about poor strike: They say we don't care about outside noise but... "Deepak injury is not looking good. I will not say he is ruled out of the season but doubtful," Cricbuzz quoted Kasi Viswanathan, the CEO of Chennai Super Kings, as saying on Friday.

West Virginia Sen. Joe Manchin says new rules governing electric vehicle tax credits are a giveaway to China

Shareholder proposals are usually uneventful at Berkshire Hathaway’s annual meeting, but Warren Buffett and the company are now facing a lawsuit over the way one presenter was treated last year

Mahindra & Mahindra and Tata Motors have received a record number of patent approvals for a wide spectrum of product and process innovations in the last financial year. Mahindra & Mahindra (M&M) received 674 approvals, its best-ever annual performance, while Tata Motors also witnessed the grant of 333 patents during the 2023-24 financial year. M&M said it has received a record 674 patents in 2023-24, with the majority coming in from the Indian Patent office. «We understand the importance of being future-ready; therefore, we have made significant R&D investments to ensure that we stay ahead of the curve in terms of technology and talent,» M&M ED & CEO (Auto & Farm Sectors) Rajesh Jejurikar said.

₹2,500 crore in fiscal year 2025 to expand its cargo handling capacity, said Arun Maheshwari, joint MD and CEO of the company told Mint. By 2027, the company anticipates a 50% increase in capacity to 258 million tonne with an investment of ₹14,000 crore, said Maheshwari. “With more approvals underway, once these are finalized, our investments for the current fiscal year will stand at more than ₹2,500 crore," he said.

Warren Buffet's Berkshire Hathaway Q1 operating profit rises 39% to $11.22 billion, net income drops 64% YoY Let's take a look at the five key highlights from Warren Buffett’s Berkshire Hathaway annual meeting Giving rest to speculations, Warren Buffett said Greg Abel, 61, who will be taking over the CEO job at Berkshire Hathaway, will control Berkshire Hathaway’s investing decisions, including its stock portfolio, after him. “I think the responsibility ought to be entirely with Greg.

In the January-to-March quarter, Amazon’s cloud computing arm Amazon Web Services, Microsoft’s Azure and Google Cloud grew at 17%, 31% and 28%, respectively, the companies reported. Analysts said this was a sign that AI is contributing to the growth and that overall cloud spending is also accelerating, Reuters reported. On the other hand, Meta CEO Mark Zuckerberg in its earnings call emphasised the company’s longterm investment in AI, which led to its shares sinking by 19% on Wednesday, wiping out over $200 billion in market capitalisation. US NEWSPAPERS SUE MICROSOFT, OPE

A series of demographic forces reshaping Canada has left many adult Canadians “sandwiched” between unpaid caregiving responsibilities for the generations coming before and after them.

OMAHA, Neb. — Warren Buffett revealed that he dumped Berkshire Hathaway's entire Paramount stake at a loss.

OMAHA, Nebraska — Warren Buffett said Saturday his designated successor Greg Abel will have the final say on Berkshire Hathaway's investing decisions when the Oracle of Omaha is no longer at the helm.

MUMBAI : Kotak Mahindra Bank's new managing director and chief executive officer, Ashok Vaswani, has expressed greater concern over the reputational fallout of the Reserve Bank of India's (RBI) restrictions on the bank than their financial impact. During his first earnings press conference on Saturday, Vaswani stressed that regaining the trust of customers and regulators would be the bank's utmost priority. To achieve this, the focus would be on upgrading technology systems and accelerating investments.

Also Read: Warren Buffet's Berkshire Hathaway Q1 operating profit rises 39% to $11.22 billion, net income drops 64% YoY Some investors, however, have expressed concern that Apple consumed too much of Berkshire's investment portfolio. Apple CEO Tim Cook, who is at the Berkshire meeting, has said that he still considers it a privilege to have Berkshire as a major shareholder. Hathaway significantly reduced its stake in Apple as the company let its cash hoard swell to a record $189 billion.

Jammu and Kashmir Bank on Saturday reported its highest-ever annual profit at Rs 1,767 crore for 2023-24. Its Managing Director and CEO Baldev Prakash said the net profit surged 48% compared to the previous fiscal. «Beating its own highest-ever record of profits achieved only last year, the net profit surged in fiscal 2023-24 by 48 per cent to achieve its record profit figure of Rs 1,767 crore,» Prakash told PTI after the bank's annual results for FY 2023-24 were released bank here.

Avenue Supermarts, which runs the popular DMart chain of retail stores, on Saturday, announced that its consolidated profit for the quarter ended March 2024 has jumped 22.4% to Rs 563 crore as against Rs 460 crore in the corresponding quarter of the previous financial year. The company's revenue jumped 20% year-on-year (YoY) to Rs Rs 12,727 crore. The retailer's EBITDA rose 22.3% YoY to Rs 943 crore while its operating profit margin also growth of 13 bps at 7.41%.

Tata Group's Engineering, Procurement, and Construction (EPC) company, Tata Projects, has said that it has turned profitable. Speaking over the company result announcement, Vinayak Pai, MD & CEO at Tata Projects said the company's strategic realignment, organisational transformation and improved focus on operational efficiencies have started yielding results. «I feel proud to announce that we have returned to profitability, and we are moving forward on our path to deliver predictable and sustainable projects through innovation and technology,» he said. Tata Projects reported a profit after tax of Rs 120.57 crore for the quarter ended March 31. The company had posted a loss of Rs 366.42 crore in the year-ago period. The company's revenue from operations increased to Rs 5,412.80 crore during the March quarter, over Rs 5,015.21 crore in the year-ago period, the statement said.