CEO Financial News

«A lot of people were in denial mode but there is a major market shift. 55 is the new 32 for TVs,» said Avneet Singh Marwah, CEO at Super Plastronics Pvt Ltd, which is a brand licensee of five major global brands — Thomson, Kodak, Blaupunkt, Westinghouse and White-Westinghouse (trademark of Electrolux). Yet, this potentially implies more than just consumers' increasing preference for viewing thrilling sports or dramatic productions on a bigger screen.

Vodafone Idea shares jumped 10% to their 52-week high of Rs 12 on the NSE on Monday following 50% payment of their licence fees and spectrum usage charge (SUC) dues for the March quarter. The company has also assured the Department of Telecommunications (DoT) that 90% of the dues for the June quarter will be cleared in a staggered manner along with interest payment. The price action witnessed strong volume action in the stock with over 35.76 crore shares changing hands on the NSE in the intraday trade around 12 pm.

Tata Power Renewable Energy Limited (TPREL), has raised $425 million in financing from the U.S. International Development Finance Corporation’s (DFC) Board of Directors for its upcoming greenfield 4.3 GW solar cell and module manufacturing plant at Tirunelveli district in Tamil Nadu, India. TPREL is a subsidiary of The Tata Power Company Limited, an integrated power company.

Low-cost Qantas subsidiary Jetstar is telling its customers that flight credits incurred during the COVID-19 pandemic have expired, despite having dropped an arbitrary December 31 deadline and in the face of a looming Senate inquiry.

V Vaidyanathan, MD & CEO, IDFC First Bank, says “currently my direct shareholding and holding in the trust – I also run a social trust which has 50.9 lakh shares of the bank– as of June 30, was 0.58%. After this transaction, it will increase to 1.04%. So effectively, this transaction is increasing my holding and that is important to note. And including the options yet to be converted, my holding will be 1.23% in the bank. GQG had already bought close to 3.9% or 4%. Together with this, they will probably go to around 4.7% that is my understanding. ”The market perceives that when promoters are selling out, it means that they feel that the stock is richly priced or they feel that the franchise value has lived up to its expectations but that is not the case in IDFC First Bank. What prompted you to sell your personal stake to GQG Partners?First of all, thanks for asking that question.

Shishir Joshipura, MD & CEO, Praj Industries, says “this initiative will create a pathway for us, a very-very constructive dialogue with several countries where it is possible for those countries to emulate what India did and actually benefit from that because biofuels have multifaceted benefits for the society. From the social angle, it creates jobs in rural areas, from the economic angle obviously it creates a lot of wealth in the country and for an energy importing country, it makes immense sense to produce your own energy.”The prime minister in the G20 Summit launched the Global Biofuel Alliance (GBA) and also invited all the other countries to join this particular initiative. How are you reading into this development?This is one of the most important developments that has taken place in recent times, inviting a global forum for biofuel alliance.

Lithium-play Liontown Resources has allowed New York-listed Albemarle into its data room to undertake exclusive due diligence for four weeks, kicking off the $6.6 billion sale of the Perth-based miner.

Alibaba Group Holding Ltd’s former chief Daniel Zhang has decided to quit just months after agreeing to lead its cloud division, introducing another layer of uncertainty to China’s largest e-commerce company just as it’s navigating a complicated breakup.

Tony Fernandes said on Monday. Capital A (formerly known as AirAsia Group) sold its Indian airline subsidiary to Tata Group last year. «We are working with the Tata Group and hope to do a lot of work with the conglomerate,» he said on the sidelines of the 21st Forbes Global CEO Conference. Last year, Tata Group-owned Air India signed agreements to acquire a 100 per cent stake in AirAsia India and has commenced the process of merging with Air India Express to form a single Indian low-cost carrier.

The 450S comes with a battery capacity of 2.9 kWh, a range of 115 kilometres and a top speed of 90 km/hour. It has a 7 inch display that offers turn by turn navigation, call facility, and music playback features.

The chief executive of Mexican fast-food chain Guzman y Gomez, Steven Marks, says he is “not going anywhere” and will keep his grip on the ASX-hopeful as it eyes an initial public offering as soon as next year.

Ajax AI model. Zuckerberg is reportedly pushing for the new model to be open-sourced and made available for free for companies to build AI-powered tools, similar to Meta's previous AI offerings.

BSE notice, effective from Monday, September 11, 2023, the equity shares of Ratnaveer Precision Engineering Limited shall be listed and admitted to dealings on the Exchange in the list of 'T' group of securities. Ratnaveer share price will open on BSE and NSE during special pre-open session at 10:00 AM on Monday and the scrip will be in Trade-for-Trade segment for 10 trading days. According to stock market experts, company has witnessed good growth in business and revenue and the issue was reasonably priced as well.

Japan’s Casio has become the latest megabrand to take the NFT plunge with the release of “Virtual” G-Shock tokens based on its popular watches.

Grasim Industries is planning to expand its footprint in smaller cities and towns by opening around 100-120 retail stores over the next couple of years, a senior official of the company said. It also hopes for a surge in demand for textile products in the upcoming festive season. «We are optimistic about the growth story of India.

Fund manager Perpetual wants Origin Energy’s board and management to push suitors Brookfield and EIG Partners for a better deal than their agreed $18.7 billion price, recognising the target’s rapidly improved profitability and a growing consensus that Origin’s Eraring coal-fired power station will outlive its 2025 retirement date.

agricultural equipment. India is already a large producer of diesel engines to meet JCB’s global needs, and it would take up the manufacture of even hydrogen engines once the technology is mastered and put into JCB machines, chairman Lord Bamford said. “We make engines in India.

liquidity and tackle inflation risks without disrupting smooth flow of credit in the economy. Several treasury executives told ET that the RBI conducted multiple tranches of short-term ‘sell-buy’ swaps in the foreign exchange market for a cumulative amount of around $8 billion over the last few days. The central bank has not conducted these transactions for such a magnitude for at least three months prior to this, currency market players said. The move also comes at a time when hardening crude oil prices and elevated US market rates have resulted in the rupee hovering near its lifetime lows versus the dollar — although the depreciation in the Indian unit has been much milder than last year. “From the forex traders we hear that they (the RBI) are doing sell-buy swaps.

By Brenda Goh

Motilal Oswal Financial Services (MOFSL) has acquired an entire standalone commercial tower with 12 upper floors spread over nearly 1,10,000 sq ft in the financial hub of Ahmedabad from Claris Life Sciences to support its growth and expansion plan. The property spread over 0.56 acres will house Motilal Oswal Tower, which is the company's third such property after its independent commercial towers in Mumbai and Bengaluru. The company has acquired the brownfield project on Ahmedabad's Sindhu Bhavan Road in bare shell condition. The financial services major will now take the construction ahead and expects to complete the project latest by September 2024. «We have our offices spread over various locations in Gujarat,» Motilal Oswal, group MD & CEO, Motilal Oswal Financial Services, told ET.

NEW DELHI : UK Prime Minister Rishi Sunak on Sunday pledged $2 billion to the UN’s Green Climate Fund (GFC), a day after G20 leaders adopted a ‘green development pact’ to speed up measures to tackle the challenges of environment and climate change. “The UK is stepping up and delivering on our climate commitments, both by decarbonising our own economy and supporting the world’s most vulnerable to deal with the impact of climate change," the UK high commission quoted Sunak as saying.