CEO Financial News

New Delhi: Mumbai-based pharmaceutical and life sciences company Hikal Limited has appointed two experts -- Berjis Minoo Desai and Ramachandra Kaundinya Vinnakota – as additional directors to its board, effective 1 October. The appointment is for a tenure of five years and is currently pending approval by the company’s shareholders.

Insurance giant IAG has warned premiums will keep rising, blaming inflationary pressures and the cost of protecting itself from large disasters.

Premier Investments chief executive Richard Murray has quit as the retail group controlled by Solomon Lew evaluates a possible demerger of some of its businesses, including brands Peter Alexander and Smiggle.

US insurance broker giant Marsh & McLennan is nearing an agreement to acquire Australia’s Honan Insurance, according to people familiar with the matter.

Ujjivan Small Finance Bank, which is back in the reckoning after a couple of bad years with high level of stressed assets and an exodus at senior levels, is planning to apply for universal banking license next year after the completion of the proposed reverse merger of its holding company Ujjivan Financial Services to itself. As preparation, the lender is now focusing on gaining scale by expanding product basket, adding more branches and growing manpower by about a fourth,managing director Ittira Davis told ET in an interview. Here’s an edited excerpt.Ujjivan Small Finance has regained stability with a solid set of numbers. What helped this turnaround? Have you done anything different? The entire problem was circumstantial.

Jailer' stayed on to earn more than ₹500 crore globally, Sunny Deol's 'Gadar 2' approached ₹400 crore globally, and 'OMG 2,' starring Akshay Kumar and Pankaj Tripathi, crossed the ₹100-crore mark. As reported by Sacnilk, an Indian movie box-office tracking website, 'Gadar 2' recorded a global box-office collection of ₹433.7 crore by August 19. Within this, the Indian gross box-office figures reached ₹396.7 crore, complemented by overseas collections amounting to ₹37 crore.

MUMBAI : Bulk share sales have hit a record $11 billion during FY24 so far, as promoters and large public investors cashed in on a buoyant equity market fuelled by nimble earnings growth. A Mint analysis showed that key stakeholders, including promoters, have sold shares worth over ₹1.35 trillion through bulk and block deals during the calendar year so far, out of which deals worth over ₹92,800 crore were concluded in the first five months of FY24, which is more than double that of the same period last year.

Indian CEOs are outperforming the workforce in pay hikes as companies have largely been able to pass inflation on to consumers during the post-pandemic economic recovery. This is facilitated by remuneration structures linked to corporate performance that becomes more pronounced as managers climb the hierarchy. The divergence is more pronounced in promoter-led companies that seek to suitably compensate their entrepreneur-managers.

Equitas Small Finance Bank Ltd has plans to foray into credit cards and personal loan segments as it expects to build a consumer finance portfolio, a top official said. Equitas Small Finance Bank was also investing in developing a mobile application to serve merchants and help improve their business operations.

learning skills and honing leadership to launch an own venture than joining an MBA programme, believe some of the entrepreneurs. Ahead of World Entrepreneurship Day on August 21, many founders with whom PTI spoke noted that while an MBA programme provides valuable managerial skills, it is not a prerequisite for starting a new company. Entrepreneurship is like a real-life MBA where an entrepreneur continually builds business fundamentals and hones communication, leadership and critical thinking skills, according to work-as-a-service platform Awign's co-founder and CEO Annanya Sarthak.

FMCG industry witnessed growth in volume and expansion in gross margins in the June quarter aided by moderation in inflation which also boosted small players in select categories. Several small players, which had earlier vacated some of the market segments during the peak of inflation, returned back and intensified the competition at the local level, forcing several big FMCG players to go for price corrections.

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Investing.com — Here is your Pro Recap of the biggest insider trades and institutional investor headlines you may have missed last week: news out of Starboard Value LP and Bloomin Brands, Berkshire Hathaway and DR Horton, Lennar , and NVR, and top brass purchases at Forward Air, TG Therapeutics, Amarin , Funko, and Sarepta Therapeutics.

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: VinFast makes a splash in its market debut; Tesla cuts prices in China; and Mullen continues to fight delisting.

Are you planning to rent a property from a landlord who is a non-resident Indian (NRI)? If you are, there are certain rules you need to be aware of. First and foremost, it is important to ensure that your landlord has appointed a representative in India who can act on his or her behalf in case of any legal or maintenance issues. Additionally, make sure you have a clear and detailed rental agreement in place that outlines the terms and conditions of your tenancy. This should include information on rent payments, security deposits, and any other fees or charges that may apply.

The Income Tax Department has notified rules for valuing rent-free accommodation provided by employers. The notification will help employees who are drawing substantial salaries and living in rent-free accommodation provided by their employers to save more.

Bandhan Mutual Fund has launched Bandhan Nifty IT Index Fund, which is an open-ended equity scheme tracking Nifty IT Index. In a statement, the AMC said the scheme will aim to capture the growth potential of the Indian Information Technology (IT) sector. The

The luxury real estate segment in India has experienced a remarkable resurgence, evidenced by a staggering 130% surge in high-end property sales during the first half of 2023 compared to the corresponding period in the preceding year. According to the latest data unveiled by CBRE South Asia, a leading real estate consultancy, a total of 6,900 luxury residences, commanding prices of Rs 4 crore and above, were successfully transacted between January and June this year, showcasing a substantial increase from the 3,000 units sold in 2022.

If YOU PLAN to move abroad either for a job or for higher education, careful financial planning is essential to ensure a smooth transition. Foremost, you must inform your bank about the change in residential status and savings/current accounts should be converted into Non-Resident Ordinary (NRO) to manage any future income you earn from investments in India.

emerging investment instruments, Sebi is looking to bring in norms for follow-on offers by real estate investment trusts (REITs) and infrastructure investment trusts (InvITs). REITs and InvITs were introduced in India to provide investors with an opportunity to gain exposure to real estate and infrastructure projects respectively, with diversification of risks through pooling arrangements. Generally, REITs invest majorly in completed and rent-generating real estate assets. Privately placed InvITs can invest in under-construction assets as well as completed and revenue-generating assets and public InvITs can invest majorly in completed and revenue-generating assets. «Taking cognizance of the potential of REITs and InvITs in driving the future of Indian infrastructure, Sebi would endeavour to further develop the market for REITs and InvITs in the coming years through policy measures including considering bringing in norms for follow-on offers by REITs and InvITs,» Sebi said in its annual report for 2022-23.Krishnan S Iyer, CEO, of NDR InvIT Managers, said given the capital requirements needed for the growth of infrastructure, it is very important that both domestic institutions, mutual funds, and of course retail investors increasingly participated in it. «These are well structured, regulated, and transparent vehicles that give them an avenue for developing a perpetual stream of cash flows, » Iyer added.

Hero MotoCorp, having restored its margins to pre-Covid levels, is now focused on achieving sustainable growth. The company aims to boost its market share across various segments through the introduction of new products in the coming quarters, as stated by a senior company executive, reported PTI. The nation's leading two-wheeler manufacturer is actively working on increasing its production capacity to facilitate the launch of the highly-anticipated Harley-Davidson X440, which has already garnered more than 25,000 bookings.