CEO Financial News

Sectorally, buying was seen in capital goods, consumer durables, and realty stocks while oil & gas, auto, energy, and power stocks saw some selling. Stocks that were in focus include names like Metro Brands that rose more than 12%, Chalet Hotels that gained over 2% and Vedanta that closed with gains of nearly 4% on Tuesday. We have collated a list of these three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout. We spoke to analyst Ankit Choudhary on how one should look at these stocks the next trading day entirely from an educational point of view.

Anil Agarwal’s Vedanta Group is demerging the natural-resources conglomerate Vedanta Ltd (Vedl), which is listed in India, into six separate companies. The group has said it aims to complete the reorganisation by September 2025 and list at least five of the new entities by March 25. Since the group also controls Hindustan Zinc its share price is sure to be affected, too.

Gas producers warn the Albanese government is ignoring major Asian trading partners’ increasing demand for LNG, with a discussion paper that makes reducing demand faster than supply will fall the centrepiece of its strategy during the energy transition.

UAW President Shawn Fain has transformed the rituals of contract talks with General Motors, Ford and Chrysler parent Stellantis into a high-stakes, made-for-media game. The automakers will look for clues on how to survive in the agreement the union reached on Sunday with Volvo Group-owned Mack Trucks. For now, the union appears to be in control, although there is pain on both sides.

LNG) are expected to soften by the end of the decade as new supply comes online, the CEO of French energy firm TotalEnergies said in Qatar on Tuesday. LNG supplies are expected to increase by around 100 million tonnes per year, or around 20%, by 2030, particularly from new projects in Qatar and the United States, Patrick Pouyanne told reporters at a groundbreaking ceremony for the expansion of Qatar's giant North Field LNG facility. Global LNG prices surged to a record in the wake of Russia's invasion of Ukraine last year, as Europe sought to replace Russian pipeline gas supplies. «It is better for everyone to have more supply in the market to stabilise the price than having a tense market like today.

Arun Maheshwari, Joint MD and CEO, JSW Infra, says: “Post this IPO, we are already virtually debt free because the cash from the IPO is taking care of it. Going forward, we will maintain a debt to EBITDA ratio of 2.5, net debt to EBITDA, which is still very healthy from an infrastructure point of view. We have a good enough cash flow coming in and the kind of projects we are looking at. A 2.5 net debt to EBITDA is a fair assumption in the coming years.” It was a good listing for JSW Infra and the stock saw follow-up buying after the listing. Could you spell out what kind of growth plans you are having within the company if one were to look at the next 2-3 -year road map? We have already laid down some of the proceeds of the IPO for growth prospects like LPG terminal or the container terminal modernization and upgradation in Mangalore. On top of it, as I said earlier, the government is coming up with a lot of bidding for the projects and we will continue to look at the opportunity. We have been bidding it and we will continue to look at this. On top of it, there are a couple of greenfield ports which we are looking at and going forward and probably in a couple of months time, we will know what exactly we are getting into, what are the biddings we are successfully getting over.

In response to the ongoing market downturn and reduced commercial demand, blockchain analytics firm Chainalysis is laying off another 150 employees, representing over 15% of its workforce. 

Marico share price jumped nearly 6% to touch 52-week on Tuesday's trading session after domestic brokerage ICICI Securities upgraded Marico stock with a 'buy' rating from a 'add' rating and saw a possible upside 19% from Friday's close price of ₹562. Marico share price today opened at ₹570.05 on BSE, and touched an intraday high of ₹595, and low of ₹567.30. At 12:22 IST, Marico shares were trading over 3% higher at ₹580.65 apiece.

PwC Australia’s big four rivals KPMG, EY and Deloitte say they already have superior governance structures in place and do not need to emulate the sweeping reforms at the embattled firm following its tax leaks scandal.

Squadron Energy, the private renewable generation group controlled by the billionaire Forrest family, has recorded its first sales but slumped to a $220 million loss after the $4.2 billion purchase of CWP Renewables.

leasing across 9 cities increased by 33% Y-o-Y and touched 15.8 mn. sq.

Elon Musk's X paid almost $20 million to creators, says CEO Linda Yaccarino The live stream on October 3 lasted around 40 minutes and witnessed 1.5 viewers tuning in to watch the billionaire play the video game with many users on the platform complaining of issues like flickering and high-pitched voice frequency. Musk himself admitted that there remains 'something to be fixed' for the live-streaming feature.

PwC Australia has installed six new industry leaders via a merit-based appointment process, as its chief executive, Kevin Burrowes, moves to put an end to the previous practice where the CEO had almost complete authority to make key appointments.

Computershare, the provider of share registry and employee share plan services, is selling its troublesome mortgage services business in the US to asset manager Rithm Capital for $US720 million ($1.13 billion).

Sunil Subramaniam, MD & CEO, Sundaram Mutual, says “the initial part of the credit cycle growth will be led by the NBFC pack. On top of this, we are now heading into the festival season. Then in the summer, there will be demand for consumer durables. It is the election season and you will have lots of liquidity flooding the economy. So the consumption drive is also on the back of NBFCs as a clear lead over banks in terms of lending at the consumer and the retail end of it.” You understand the NBFC space so closely. In fact, one of your group companies is a big NBFC, very successful. They have been talking of a very high quality, sustainable growth going forward and one of the few NBFCs which is trading at a 52-week high. Which phase of the cycle are the top NBFCs in? Most of them are guiding towards 20%, 25% growth, while some SME ones are talking about 30-35% growth. Is it early cycle, mid-cycle or late cycle? I would say early to mid-cycle because as corporate capex goes up, banks generally come in at a late stage to finance.

UPI is a 24X7 instant payment system that allows you to transfer money in real time between two bank accounts. UPI Lite is an on-device wallet feature that allows users to make real-time small-value payments. "UPI and UPI Lite are both revolutionary in their own right.

Morgan Stanley’s Michael Wilson, an unwavering equity bear, says the correlation between real rates and equity returns has fallen deeper into negative territory — a sign that interest rates have once again become a determinant of stock performance. At Bank of America Corp., however, Savita Subramanian thinks equity markets can still thrive if rates remain elevated.

With former FTX boss Sam Bankman Fried's (SBF)’s first day in court fast approaching, experts say his paths to acquittal are looking quite scant. 

Reuters, this decision is attributed to the effects of the ongoing United Auto Workers strike, which has now entered its 18th day and has impacted operations at these facilities. Also Read: UAW Strike Hits Demand for Steel The UAW confirmed that it submitted a fresh contract offer to GM on Monday. However, GM responded by stating that they had received the counterproposal, but there were still significant differences to be addressed.

vaccines." Adar Poonawalla, CEO of the Serum Institute of India, said “For far too long, malaria has threatened the lives of billions of people across the globe, disproportionately affecting the most vulnerable amongst us. This is why the WHO recommendation and approval of the R21/Matrix-M vaccine marks a huge milestone on our journey to combat this life-threatening disease, showing what exactly can be achieved when the public and private sector, scientists and researchers, all work together towards a shared goal." The vaccine was developed by the Jenner Institute at Oxford University and Serum Institute of India with support from the European and Developing Countries Clinical Trials Partnership (‘EDCTP’), the Wellcome Trust, and the European Investment Bank (‘EIB’).

(Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) "This industry can change the global debate... It is time to silence the skeptics by applying scale, capital, and technology to deliver outcomes," said Sultan Al Jaber, the president-designate of the COP28 talks, who is also the head of UAE state-owned oil firm ADNOC.