CEO Financial News

Sunil Subramaniam, MD & CEO, Sundaram Mutual, says “this week, we will see a consolidation because as it gets closer to Christmas, fund managers go on holidays and so there will be less activity but also the remaining profit booking that needs to be done, would be done. I would say that till the new year, I would expect this to consolidate but in January, I expect further inflows to come in from FIIs and take the index to new highs.” The markets are in a holiday mood right now. What has been your observation so far? It has been a very good run. The macro cues are also pretty positive. How much is already getting into the price now? Sunil Subramaniam: I would say that it is not fully into the price and the reason I say that is because this is the period when you have hedge funds booking profits, those who entered six months, a year, year-and-a-half ago, the Indian market has been one of those where they have made the best returns. As you know, hedge fund managers need to book profits before the year end in order to be able to receive their bonuses, so at this time we have suddenly got this flood of good news for India.

holiday season, many companies are encouraging their employees to take time off and be with their family and friends. The small fraction of staffers who might be working at these firms during this time will get compensatory leave. As 2024 has a number of holidays close to the weekend, many companies are also clubbing these to give extra time off to their employees. For now, most companies have given off to their staffers in the last week of 2023.

Rubrik Inc is eyeing acquisitions as it expands India business cashing in on the large-scale data and digital growth story amid rising number of cyber attacks. “We are very active in both organic and inorganic developments… Having a large presence in India gives us an unfair advantage, not only (on) the scale of talent, but also the ability to acquire and absorb companies here in India… We are looking at great ideas and products around cybersecurity, AI (artificial intelligence) and data security,” Bipul Sinha, chairman, cofounder and CEO of Rubrik, told ET.

executives from leaving their well-paid jobs and taking a dip into entrepreneurship in 2023. Senior executives across functions of technology, engineering and product took the plunge into exploring the next frontier in fintech, healthcare and even artificial intelligence.

Experion Developers, the Indian unit of Singapore's Experion Holdings, plans to launch projects with a sale value of over ₹10,000 crore next year as it has completed five land acquisitions worth ₹2,100 crore, CEO Nagaraju Routhu told ET. The company plans to launch projects in all five land parcels it has acquired recently, in addition to acquiring more land in the NCR and other cities. «We are expected to cross ₹1,000 crore in revenue in FY24, and we hope to more than double that number next year given the kind of launches we have planned.

technology company Amagi Media Labs, which was last valued at $1.4 billion, is hoping to become profitable in the first half of 2024, the company's cofounder said. «We are just about a couple of months away from becoming profitable. We hope to become profitable in the first half of 2024,» Amagi Media Labs cofounder & CEO Baskar Subramanian told ET. Amagi's growth rate has tapered as its revenue base has broadened, with annual recurring revenue (ARR) topping $100 million amidst global movement among broadcasters to shift from hardware to cloud-based distribution. «We've been growing almost 100% a year over the last 3-4 years.

Huawei, its chief executive and three other top executives, summoning them to commence prosecution proceedings in a case filed by the Income Tax Department. In an order that offers a major relief to Huawei India, its CEO Li Xiongwei and the others, the sessions court said summoning of the accused «is a serious matter and should not be done in a mechanical manner». The tax department had approached the magisterial court seeking to prosecute the company and the executives on charges of deliberately not providing information sought by it. The magistrate issued the summons in June. In a sharply worded judgement, the sessions court said though no detailed order was required at the stage of summoning, the order «must reflect application of mind by the magistrate».

₹480 crore in the same company. Whether that is legally right or not, to me, this does not reflect a high level of corporate governance. If it was, all this information would have been public right from get go.

BENGALURU : Infosys Ltd and Wipro Ltd have each seen about two dozen executives at the rank of senior vice-president (SVP) and above leave under the tenures of chief executives Salil Parekh and Thierry Delaporte, respectively, underscoring the challenge of retaining senior leaders at the Bengaluru-based IT twins. Since Parekh took over as Infosys boss in January 2018, 22 executives at the rank of SVP and above have left, according to a review of the annual reports and press releases by Mint.

Chinese embassy and consulates in India will continue to provide consular protection and assistance to the individuals concerned in accordance with the law," Chinese foreign ministry spokesperson Mao Ning said. Mao Ning added that China expects a fair, just, transparent, and non-discriminatory business environment from India.

₹20,000 crore in its flagship business, Adani Enterprises. That got pulled after a devastating report from Hindenburg Research, the US-based short seller. For a few weeks, all 10 listed Adani companies were hitting lower circuits, and soon, the shares of each company had crashed by more than 60%.

Digital asset exchange, MEXC has addressed user fears over a deleted social media account believed to be its CEO, stating that the firm has no official connection with the account.

MD and CEO, sources aware of the matter said. The Reserve Bank of India (RBI) has already approved the appointment and Kalra has assumed office as well.

Reserve Bank of India will no longer have a director on RBL Bank's board as the central bank-appointed additional director Yogesh Dayal concluded his two-year term. «The Board has placed on record its deep appreciation for the invaluable contribution made by Mr. Yogesh Dayal during his tenure as an Additional Director (appointed by RBI) on the Board of the Bank,» RBL Bank said in a stock exchange filing. RBI chief general manager Dayal's appointment to RBL's board back in December 2021 had come amid plethora of rumors surrounding the financial position of the private lender, which the RBI had however denied and said RBL Bank's financial health was stable and it was well capitalised.

Paytm Layoffs: Joining the bandwagon of layoffs in 2023, Paytm's parent company, One 97 Communications, has made the decision to terminate more than 1,000 employees across various departments as part of a broader cost-cutting strategy, as reported by the Economic Times. The development comes after Vijay Shekhar Sharma, CEO and founder of Paytm, while sharing his to-do list ahead of the New Year, called out for suggestions from users for the fintech app.

Investment options offering fixed returns are quite popular among investors who wish to growth their money without taking risks associated with market fluctuations. Fixed Deposits (FDs) and Recurring Deposits (RDs) are the two such products. These are popular investment options offered by banks and financial institutions, with their own set of features and benefits. However, before making any investment, understanding the difference between the two can help in taking an informed decision based on one’s financial goals and preferences.

The Indian real estate market witnessed an unprecedented surge in 2023, surpassing all expectations and setting new records. This dynamic market is now a beacon of opportunities for both domestic and international investors, propelling the economy to greater heights. Inflows into the Indian real estate sector soared to an impressive $5.1 billion in 2023, with land acquisitions accounting for a staggering 40 percent of this surge. Domestic developers took the lead, capturing 42 percent of overall investments, while international investment funds adopted a cautious approach. Despite projections of a tapering in capital inflow, strategic investments in residential and industrial sectors continue to drive the market forward.

Investors are facing a myriad of uncertainties that pose substantial risks to the stability and performance of global markets – but as ever where there are risks, there are also significant opportunities.

The Pension Fund Regulatory and Development Authority (PFRDA) has recently allowed the NPS subscribers to deposit their contributions directly under the D-Remit process through the UPI QR code. This initiative aligns with modern trends, enhancing accessibility, efficiency, and will be appealing to tech-savvy, young subscribers.

Given that the valuations of small-caps and mid-caps are elevated, investors should look at multi-cap funds to diversify across market segments and ensure some systemic risk is mitigated, say experts. The investment mandate for multi-cap funds warrants that a minimum of 25% be invested in each of the three market cap segments, irrespective of market conditions, to generate optimal returns.

Reliance Industries Ltd (RIL) and Walt Disney signed a non-binding term sheet in London last week to move ahead with plans to create India’s largest media and entertainment business, said people with knowledge of the matter. The 51:49 stock-and-cash merger in favour of the Mukesh Ambani-led group is expected to get finalised with a view to completing all commercial ratifications and regulatory approvals by February, even though RIL is keen to wrap it up by January end.