CEO Financial News

₹4,000 crore, with shares priced at ₹10,000 each, on January 8,. This represents a premium of 43 percent compared to the last closing price.

Eicher Motors Ltd, Monday said it has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to develop new products, Electric Vehicles (EVs) products and capacity building, news agency PTI reported. The company has earmarked an investment of ₹3,000 crore, the motorcycle manufacturer said, spread over eight years. The investments are expected to generate about 2,000 direct and indirect jobs in the region.

₹1,000 crore through maiden public issue of secured, rated, listed, redeemable Non-Convertible Debentures (NCDs). The first tranche of the issue is set to be listed on the BSE, which is scheduled for subscription starting January 11, featuring a base issue size of ₹200 crore and the flexibility to retain oversubscription of up to ₹800 crore, as stated by the company.

₹487.44 per share, marking the highest rate for a secondary share sale in December, Maheshwari's divested shares would amount to a valuation exceeding ₹300 crore. Notably, the CEO of FirstCry has included himself as a selling shareholder in the upcoming public issue.

DSP Mutual Fund announced the launch of the DSP Multicap Fund, an open-ended equity scheme investing across large-cap, mid-cap, and small-cap stocks. The scheme opened for public subscription on January 08, 2024, and will close on January 22, 2024. This is an open-ended equity scheme investing across large-cap, mid-cap, and small-cap stocks.

(Government of India’s flagship public health insurance scheme), the Global Learning Collaborative for Health Systems Resilience and the Asia Pacific Cardiovascular Disease Alliance. Through efforts such as the India Health Systems Collaborative, ACCESS Health promotes knowledge sharing and seeks to enhance healthcare systems globally.

Millions of Americans are finding it harder to save while adding to their debt burden with increased credit card usage.

Sony Group Corp. is planning to call off the merger pact of its India unit with Zee Entertainment Enterprises Ltd., said people familiar with the matter, capping two years of drama and delay in creating a $10 billion media giant. The Japanese conglomerate is looking to cancel the deal due to a standoff over whether Zee’s Chief Executive Officer Punit Goenka, also its founder’s son, would lead the merged entity, the people said, asking not to be named as the information is not public. While the agreement signed in 2021 was that Goenka would lead the new company, Sony no longer wants him as CEO amid a regulatory probe, the people said. 

Digital Currency Group (DCG) has successfully settled over $1 billion in debt, including the substantial amount of nearly $700 million owed to its bankrupt subsidiary, Genesis. 

Supam Maheshwari, cofounder and CEO of mother and child care e-commerce platform FirstCry has reportedly offloaded 6.2 million shares prior to filing for the company's initial public offer (IPO). According to a MoneyControl report, Maheshwari's offloaded shareholding would be over Rs 300 crore.

Chennai: Denmark has announced its Green Fuels Alliance India (GFAI) initiative to boost collaborative efforts between the two countries in the sustainable energy solutions sector and advance their joint global goal towards carbon neutrality. Led by the Danish Embassy and the Consulate General of Denmark in India, the new alliance is a strategic initiative poised to play a pivotal role in advancing the green fuels sector, including green hydrogen, by fostering innovation, collaboration, and partnerships between Danish industries and their counterparts in India. GFAI's primary objective is to promote sustainable energy growth in India by establishing an ecosystem that encourages collaboration among businesses, government entities, research institutions, and financial stakeholders from both the Indian and Danish sectors. Nine pioneering Danish organisations have already committed to the GFAI initiative as founding members, including Maersk, Topsoe, Umwelt Energy, Mash Makes, European Sustainable Solutions, Novozymes, Danfoss, Brdr.

Hitachi Payment Services on Monday said it has completed the acquisition of Writer Corporation’s cash management business and renamed it as Hitachi Cash Management Services in line with the Japanese company’s single brand identity. Industry veteran Anup Neogi will be the new managing director and chief executive officer of Hitachi Cash Management Services, the company said in a statement on Monday. Hitachi Cash Management Services would be a wholly owned subsidiary of Hitachi Payment Services, an end-to-end payments and commerce solutions provider. This acquisition will enhance Hitachi Payment Services’ market position as a holistic provider of payments and commerce solutions. Sumil Vikamsey, managing director and CEO, cash business at Hitachi Payment Services, said, “Anup's exceptional career trajectory and extensive experience in the cash management space makes him an exemplary leader, poised to steer the company towards new heights of success." “I am delighted to lead Hitachi Cash Management Services during this dynamic phase of growth and innovation in the payments space,” said Neogi. Hitachi Cash Management Services would offer ATM Cash Replenishment Services to financial institutions and Retail Cash Management (RCM) services to retail outlets.

Commercial vehicle maker Ashok Leyland on Monday said it sold 1,98, 113 units in the Calendar Year (CY) 2023, surpassing its previous sales record of 1,96,579 units achieved in 2018. This record achievement underscores the company's product versatility and strong market presence, solidifying its position in the segment both in the domestic and international markets, the company said in a statement.

Hyundai Motor India Ltd on Monday said it will invest Rs 6,180 crore on various initiatives, including establishing a hydrogen resource centre, in Tamil Nadu. The fresh investment by the automaker is in addition to the Rs 20,000 crore it plans to deploy over a period of ten years (2023- 2032) to augment its efforts in electric vehicle manufacturing, charging infrastructure and skill development. The company inked an MoU with the state government regarding the new investment during the Tamil Nadu Global Investors Meet 2024.

EaseMyTrip share price in focus as CEO suspends all Maldives flight reservations According to Maldivian media reports, deputy ministers in the youth ministry, Malsha Shareef, Mariyam Shiuna, and Abdulla Mahzoom Majid, have been suspended from their posts. Maldives govt suspends 3 ministers after ‘derogatory’ remarks on PM Modi The disparaging remarks by the ministers have drawn flak in India, with many celebrities urging people on X to explore domestic tourist destinations instead of going to the Maldives.

business setup consultants in Dubai, has been creating waves with its unrivalled knowledge of business structuring, family offices management as well as continuity planning, trust creation and corporate banking and transaction advice. The driving force behind RadiantBiz is the CEO Rizwan Ansari, an experienced banker from the UAE with an outstanding experience of guiding teams to achieve success. Ansari's extensive understanding of finance and banking for business places RadiantBiz unique in the creation of prosperous results for its customers, globally and locally.

Research & development has been an area of focus for Philips (and Versuni) over the years. How’s the R&D facility in Chennai doing? The plan is to capitalise on the growing opportunities in the Indian market. The R&D centre in Chennai continues to innovate and helps us grow.

Year 2023 had a series of cases in which founders locked horns with the Board of Directors, bringing corporate governance standards into sharp focus. Byju Raveendran of Byju’s, Bharatpe’s Ashneer Grover and Housing.com founder Rahul Yadav (in his new startup avtar), were all in the news with regard to issues pertaining to their style of functioning. Former Infosys Board member and co-founder of Aarin Capital Partners, TV Mohandas Pai, talks about the importance of having a high-quality Board with capable independent directors that can guide and propel a startup. Mohandas Pai who is on Byju’s advisory council, declined to talk specifically about the edtech company. Excerpts from an interview: A Board can function well only if it has a good chairman.

Boeing 737 Max 9 aircraft sees window blowout on Alaska Airlines. Top 10 Updates Alaska Airlines on Saturday said it will ground its entire fleet of Boeing Co. 737 Max-9 aircraft temporarily.

STOCKHOLM — Calliditas Therapeutics AB (NASDAQ:CALT) (Nasdaq Stockholm: CALTX), a biopharmaceutical company specializing in rare diseases, today announced the appointment of Maria Törnsén as President of its North American operations. Törnsén, who brings over two decades of experience in the biopharma sector, will oversee all U.S. operations and report directly to the CEO, Renée Aguiar-Lucander.

The hottest and most closely watched activist battle isn’t happening inside corporate America. It’s taking place at Harvard University, where Bill Ackman has applied the same playbook he has used in campaigns against the likes of Herbalife to one of the most elite and storied institutions in higher education.