CEO Financial News

MrMed, an online pharmacy for super specialty medicines, is set to inaugurate its inaugural physical store in Greams Road, Chennai on 25 April 2024. This marks the brand's onset into offline retail. In partnership with BDK Pharma Private Limited, MrMed Pharmacy flagship store will offer a comprehensive range of healthcare products; from daily medicines, generics, and branded generics to surgical supplies and super specialty medicines, customers can expect unparalleled convenience and quality under one roof. Devashish Singh, CEO and Co-founder of MrMed, says, «We are extremely excited to launch our first offline pharmacy on Greams Road with BDK Pharma. One of the main promoters of BDK — Habib is a dear friend of mine from my days at Duke University. Habib and I have always spoken about healthcare deeply and have extensive experience in the sector. The entire BDK group has decades of experience in setting up and scaling franchisee operations in numerous countries across the world. We are happy to partner with them in our collective goal of providing access and affordability of specialty medicines.”

ethanol to be used in the next cycle, the official added. This decision underscores the government's comfort with the current level of sugar production relative to domestic consumption needs, said the official who did not want to be identified. The directive comes at a crucial time as it aligns with the end of the sugarcane crushing season and supports India's ambitious ethanol-blending targets—E15 by 2023-24 and E20 by 2025-26.

₹2,218.00 apiece on the BSE after muted Q4 results. FMCG major Hindustan Unilever (HUL) reported a standalone net profit of ₹2,406 crore in Q4FY24, registering a decline of 6% from ₹2,552 crore in the same period last year. The company’s revenue from operations rose marginally to ₹14,693 crore from 14,638 crore, YoY, with 2% volume growth.

Temasek and Fidelity for a $200 million funds infusion through a secondary share sale, The Economic Times reported citing sources. If the homegrown eyewear company's talks with the Singaporean investment company and the American financial services corporation turn concrete, it would push Lenskart's valuation to around $5 billion. A significant increase from its previous valuation, this move would also place Lenskart's worth at over three times that of competitor Warby Parker, the report added.

It didn’t take long for the U.S. Chamber of Commerce to try to block a sweeping regulation that prohibits the use of employment clauses that prevent workers from leaving and taking jobs with competing firms.

Meta Q1 Results: Meta Platforms Inc., the parent company of social media majors Facebook and Instagram announced its first quarter results on April 24. The tech giant reported a significant surge — more than doubling numbers — in its Q1 profit, AP reported. The profit increase was driven by increased advertising revenue and a 6 percent rise in average ad prices on its platforms, it added.

Saurabh Nanavati, and four others have settled a case of alleged violation of mutual fund and portfolio management services regulations with market regulator Securities and Exchange Board of India (Sebi) by paying ₹4.98 crore as settlement amount. The case relates to an inspection of mutual funds and portfolio management services (PMS) activities of Invesco Asset Management for the period between October and November 2021.

RBI) barred Kotak Mahindra Bank from signing up new customers through its online and mobile banking channels, and issuing fresh credit cards, among the toughest curbs imposed on a scheduled bank. The regulator said Kotak had failed to fix its IT systems after being asked to do so continuously over the past two years. The regulator cited «serious deficiencies and non-compliances» by Kotak in a statement shortly after the stock market closed on Wednesday. The third-most valued private bank in terms of market capitalisation was asked to stop the functions cited «with immediate effect». The stock closed at ₹1,843.05, up 1.64% on the BSE, at a market cap of ₹3.66 lakh crore. Kotak said it would resolve the matter quickly and assured customers there wouldn't be any interruption to services.

Axis Bank, India's fourth-largest private lender by market capitalisation, has reported a robust profit of ₹7,129.67 crore for the March quarter, supported by margin expansion and higher non-core incomes. The bank expects deposit growth to be a constraint in the short term. The bank had reported a loss of ₹5,728 crore in the corresponding period a year ago on goodwill impairment following Citibank's portfolio acquisition. The bank had reported a net profit of ₹6,071 crore in October-December 2023 period, translating into a 17% increase in profit on a sequential basis.

Ford Motor Co.’s first-quarter net income fell 24% from a year ago as the company’s combustion engine vehicle unit saw revenue and sales decline

Future Proof, the business-to-business events organizer that broke the mold with its monster gatherings over the past two years, has unveiled plans for its largest and most expansive conference yet.

Vanilla, a leading estate planning software provider, has enhanced a key piece of its platform to provide a better experience for advisor users.

The securities industry typically fights tooth and nail any new form of regulation over how products are sold to investors, typically claiming any added expense created by rules will cut services to clients.

Concurrent Investment Advisors is welcoming four industry veterans to its roster of leadership as it looks to amplify its focus on growth and succession.

Canada’s biggest Indigenous-owned bank is planning a major expansion that will raise as much as $50 million to reach more customers.

A Russian court sided with state-run lender VTB Bank in its efforts to recoup $439.5 million from JPMorgan Chase that the American lender froze in U.S. accounts after the Ukraine invasion.

a $600 million settlement over the disastrous February 2023 Ohio derailment there were few surprises in Wednesday’s numbers. Norfolk Southern confirmed the $53 million, or 23 cents per share, that it earned in the first quarter.

NRIs) are contributing nearly a fourth to the total residential sales at large developers, up from 7-10% before the pandemic, as top cities continue to see price appreciation and rising demand. According to developers and brokerage firms, the US, Singapore, the UAE, Australia and Saudi Arabia have emerged as big markets for them and they have dedicated teams to help buyers in selecting the projects. According to market sources, the country's biggest developer DLF in its last project Privana South in Gurugram, had achieved 25% share (about ₹1,800 crore) in NRI sales.

Oracle Corp. CEO Larry Ellison says the business software giant’s planned campus in Nashville, Tennessee, will serve as its world headquarters and place it in a city that's a center of the health care industry

Boeing is reporting a $355 million loss for the first quarter

Norfolk Southern's first-quarter earnings report Wednesday gave the railroad the opportunity to publicly defend CEO Alan Shaw's strategy again before investors decide on May 9 whether to back him