CEO Financial News

Bharti Airtel CEO Gopal Vittal on Wednesday said telecom tariffs in India are low and need to go up. He also asserted that the industry need to become viable. Describing 5G as a “long haul", Vittal said that the company is not in any race to beat its drum on having the largest, fastest rollout, but instead is sharply focused on delivering good experience for its 5G customers.

(Reuters) — Shares of Advanced Micro Devices (NASDAQ:AMD) jumped nearly 6% on Wednesday, after an upbeat AI chip sales forecast signaled the company was making progress in its bid to catch up with market leader Nvidia (NASDAQ:NVDA).

By Luc Cohen and Jody Godoy

Scheduled to be held on November 3, 2023, this summit promises to be a dedicated platform fostering innovation and growth within India's tech-startup landscape. With its overarching theme of «Resilience.

Online Masters Programme, marking an expansion of IIIT Hyderabad's collaboration with TalentSprint, a globally renowned EdTech leader known for pioneering innovative and transformative learning experiences. As part of this collaboration, IIIT Hyderabad will now introduce the Online Masters programme in Computer Science with specialization in the AI/ML domain.

Boeing has tried for years to turn itself around. Its new best hope is a former executive who had a front-row seat to the jet manufacturer’s struggles. Pat Shanahan, a 30-year Boeing veteran and engineer by training, has taken over as interim chief executive officer of one of Boeing’s biggest and most problematic suppliers.

Nifty on Wednesday ended 90 points lower to form a negative candle on the daily chart and indicate the formation of a lower top around 19,230 levels. The short-term trend of the Nifty continues to be weak. It is expected to slide down to the lower support of 18,850 levels (200-day EMA) once again before showing another round of upside bounce from the lows.

Hero Motocorp Chairman Pawan Munjal received approval for his proposed 20% reduction in his salary. Earlier, he had volunteered for a salary cut after the separation of roles of Chairman and CEO of the company. Also Read: Hero Motocorp Q2 results: Net profit jumps 47% to ₹1,054 crore; revenue up 4% The Board of Directors of the Company, on Wednesday, announced the quarterly earnings of the company for the September quarter.

Kestra Private Wealth Services has added two teams to its network, with a combined $850 million in client assets.

The private credit market is gaining traction as investors across the spectrum seek better returns and greater diversification.

Shapoorji Pallonji Real Estate on Wednesday said it has launched two housing projects in its 200 acre-township in Pune and is expecting a revenue of around Rs 1,500 crore from them. In a statement, the company said it is developing a 200 acre-urban development project 'SP Kingstown' in Pune's Hadapsar Annexe.

Varun Alagh and Ghazal Alagh are also selling 32.86 lakh shares of the 10.67 crore shares they hold in the Gurgaon-based company. With a price band of Rs 308-324 per share fixed for the issue, the founders will together raise between Rs 101.22 crore and Rs 106.47 crore through this sale.

GEORGETOWN, Guyana—New supermarkets here are stocked with prime Texas rib-eyes. A recently opened waterfront hotel offers executive suites for $750 per night. The national cricket team, the Amazon Warriors, is getting a new stadium that begins construction next spring.

Ambuja Cements, the Adani Group cement manufacturing company, reported a four-fold jump in its standalone net profit for the quarter ended September 2023. The company’s net profit in Q2FY24 surged to ₹643.84 crore from ₹138.9 crore, in the same quarter of last fiscal.

Borrowing money is a common financial practice for meeting personal expenses, starting a business, or buying a home. Often people have multiple options for borrowing, but they are unable to choose the best deal as they don’t understand the impact of borrowing on their financial health.

GeM order volume: The public procurement platform of the government, Government e-marketplace, has crossed 30 lakh order volume in the current financial year. According to the data available on the marketplace at the time of filing this report, GeM had processed 30.38 lakh orders worth Rs 1.91 lakh crore in the current financial year so far. The share of micro and small enterprise sellers in the order value stood at 48.92 per cent.

The festive season is finally here and, as always, real estate developers have started betting big on it. Buyers prefer making big-ticket purchases during this period as it is considered auspicious by a majority of them. Sales of all kinds of things soar during the festive time — including those of real estate. Thankfully, housing sales in the nation’s top 7 cities have already remained at an all-time high in Q3 2023, denoting a 36% annual growth at over 1.20 lakh units, and are expected to rise further during this time despite rising property prices.

The Adani Group-owned cement manufacturing company Ambuja Cements on Wednesday posted profit for the second quarter of FY24 at Rs 792.96 crore, up 751.0 per cent as against Rs 93.18 crore during the same period last year, surpassing estimates. It posted revenue from operations at Rs 7,423.95 crore, up 4.1 per cent in comparison to Rs 7,131.39 crore during second quarter of FY23. According to a CNBC TV18 poll, Ambuja Cements was expected to post Q2 profit at Rs 515 crore and revenue at Rs 4,099 crore for the quarter ended September 2023. The company EBITDA, meanwhile, was up 106 per cent from Rs 1,438 crore to Rs 2,969 crore. 

Sunil D'Souza, MD & CEO, Tata Consumer, says “cash flow conversion is up 100 bps and we remain on track to deliver 95% to 100% of EBITDA to cash for the full year. As for ROC, which you have kept mentioning as our bugbear, is up by 210 bps, hopefully that trajectory continues even on the strategic front and that is the key to delivering good numbers, staying focussed on the strategic pieces, staying focussed on the basics and executing them well. ” These numbers are good, solid and they deserve a table thumping applaud. It is a rarity when we say that FMCG companies are beating estimates. How have you managed to beat the peers and analyst estimates? We have delivered a decent set of numbers. Just to highlight, topline was up 11%, EBITDA was up 30%. Group net profit was minus 7% but if I offset the one-time land sale that was there last year, net of exceptionals, we are up by 24%. EBITDA is up 220 bps. We are seeing volume growth across all the businesses. Growth businesses in India are firing at 40, international is up 13%. Gross margins across all businesses more or less where they should be, bar the US where we have got a little bit of work to do.

Domino’s Pizza Enterprises chief executive Don Meij says the company will spend this year “rebuilding”, telling shareholders at its annual meeting in Brisbane that a cost-cutting program was on track.

Anheuser-Busch InBev says revenue growth in most of its global regions was offset by a drop in North American sales in the third quarter