CEO Financial News

(Reuters) -Electric truck maker Nikola named its fourth CEO in as many years on Friday as its tries to navigate a host of challenges including depleting cash reserves, supply chain constraints and a pivot to hydrogen fuel cell technology.

Mahindra & Mahindra is unlikely to increase its stake in RBL Bank unless there’s a compelling reason to do so in line with the company’s capital allocation guidelines, the company’s top official said, seeking to assuage investor concerns on the tractor- to-technology conglomerate straying on the path to fiscal discipline, it embarked upon a couple of years ago. Since the announcement of the stake purchase by the company, M&M investors have lost Rs 1,32,00 crore.

Nifty on Friday bounced back in style with an upside of 135 points to form a small positive candle with minor upper and lower shadow on the daily chart. However, on the weekly chart, a red candle was seen with an upper and long lower wick. The hourly momentum indicator has also reached the equilibrium line indicating that the pullback has matured and can begin a new cycle on the downside, said Nagaraj Shetti of HDFC Securities.

Indigo crossed a significant milestone in its history by reaching 1,900 flights per day on its 17th anniversary. IndiGo's 17th anniversary is a testament to the unwavering support and trust our customers have placed in us, said Pieter Elbers, CEO of IndiGo. “These achievements over the years have been made possible by the unwavering dedication and professionalism of our 6E stars for which I would like to sincerely thank each and every one of them,” he added. The airline has come a long way from launching its inaugural flight in 2006 to etching its name in history on June 19 this year by bagging the largest order in aviation history of 500 A320 aircraft. The order solidified the company’s position as the airline with the biggest order in the industry. IndiGo had unveiled its first A321, a longer version of A320 aircrafts on December 27, 2018. Just a month before this deal, the airline had set a new record with the maximum number of 3 lac customers per day in May.

Kevin Kelly knew his small factory outside San Francisco would soon see demand wilt for the plastic bags it churns out for pre-cut salads and other produce. In the past, he would have swiftly chopped 10% of the workers that run his bag-making machines, or about 15 people. But after struggling to fill jobs during the boom triggered by the COVID-19 pandemic, he didn't this time.

RBL bank to 9.9%. As of now, its investment has not changed and there is no intention of going further beyond this, said M&M CEO Anish Shah on Friday. Mahindra & Mahindra reported a 97.6% rise in its standalone net profit to ₹2,773.73 crore in the quarter ended in June 2023 from ₹1,403 crore a year ago period.

Income tax refund:  If you have received a message claiming an income tax refund of ₹XXXXX amount has been approved and you need to verify or update your bank account. Beware! This is a fake message, please do not bother to respond to any such messages. 

We don’t support this browser anymore. This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

Nilesh Gupta, MD, Vinita Gupta, CEO and Ramesh Swaminathan, Global CFO, Lupin, in conversation with ET Now Pharma major Lupin recorded a consolidated net profit of Rs 453.33 crore for the April-June quarter FY24, as against a consolidated net loss of Rs 86.8 crore reported in the same period a year ago.The India business growth has revived and that too in double digits. What are you seeing coming in there? What were the growth drivers this time around and how to expect growth going forward? Do you think this is sustainable?Nilesh Gupta: We have been lagging a bit. But like we said, from Q2 onwards, we expected to get back to double digit growth and are very happy that it is happening in Q1 itself.

Amazon reshaped the retail landscape for books. The rise of e-books threatened the printed word. And the boom in self publishing gave writers a path to success that left out traditional publishing houses.

The Chief Executive Officer of Ripple, Brad Garlinghouse, expressed his hatred for the United States Securities and Exchange Commission (SEC) on August 2, 2023. This was in response to the SEC's use of Ripple's quarterly XRP Markets Report as evidence against the company in a court action that is still ongoing at the time of this statement.

Mint and shared his views. Archit Gupta: ClearTax began as a tax filing solution over ten years ago. We have rebranded Clear which extends far beyond just tax compliance.

Bud Light’s parent company expressed confidence Thursday that its U.S. market share has stabilized after a promotion with a transgender influencer cost it sales

e-commerce enablement platform Shiprocket. The report sees the consumer spending in the country to rise at a CAGR of about 10% on account of increased domestic consumer expenditure and consumption market. Similarly, the spending by consumers on categories of food, housing, apparel, personal care, transport, and communication would rise by about 2 times by 2030.

FPIs) bought Indian shares worth 466.18 billion rupees ($5.63 billion) on a net basis in July, data from the National Securities Depository Ltd (NSDL) showed on Friday. This is the highest monthly FPI inflows since August 2022. Sustained FPI inflows have powered the uptick in the blue-chip Nifty 50 and S&P BSE Sensex, driving the benchmarks to record highs.

Tenable has lodged a formal complaint against tech giant Microsoft, alleging a lack of transparency and irresponsible security practices. The Chairman and CEO of Tenable, Amit Yoran, took to LinkedIn to pen an open letter, exposing the irregularities they have uncovered. The incident dates back to March when the Tenable Research Team stumbled upon a critical flaw within Microsoft's Azure platform that allowed unauthorized access to sensitive data.

Also Read: Truecaller coming soon to WhatsApp: What is means for users and why it is a good news? In the viral video, the student introduced herself as Ekta. Replying to a question on ‘What brought her to Canada’, she said that it was her ‘dream to leave India’. She also added that after completing her degree in biotech in Canada, her future plan involves a career in business.

reality headset - is yet to get into the hands of customers. Apple has seen its research and development spending go to $22.61 billion in the current fiscal year which is around $3.12 billion more than the last year combined.

Headwinds across the wealth management industry and specific challenges in Envestnet’s data and analytics business contributed to another slide in quarterly earnings for the largest provider of financial advisor technology and outsourced investment management.

ChatGPT. In retail, Amazon has reorganized its fulfillment network and opened warehouses for same-day shipping closer to big metro areas, saving time and costs on delivery. Brian Olsavsky, Amazon's chief financial officer, said on a call with reporters that faster speeds have meant Prime loyalty customers are "shopping more often." For the second quarter, Amazon's revenue grew 11% to $134.4 billion, beating estimates of $131.5 billion from analysts polled by Refinitiv.

Davidson Kempner (DK) has started reconstituting the board of Aakash Educational Services Ltd (AESL) in an effort to turn around and improve the governance of the crown jewel of cash-strapped Byju’s, regarded as India’s most valued edtech company. The hedge fund is inducting at least four new independent and nominee directors in the test-prep subsidiary of Byju’s parent Think & Learn, said people in the know. The new board is expected to take charge within a fortnight.