CEO Financial News

Funding in PropTech firms experienced a slight dip in 2022, reaching USD 719 million, according to a report by housing.com. However, the PropTech sector has demonstrated resilience, with a cumulative investment of nearly USD 4 billion between 2009 and 2022, boasting a remarkable compounded annual growth rate (CAGR) of 49 per cent. «Investments in the PropTech space remained stable throughout 2022, even amidst global turmoil.

I had purchased two houses worth Rs 18 lakh and Rs 21 lakh, with the help of home loans from HDFC Bank. For the house worth Rs 21 lakh, my spouse is a co-owner, though I am paying 100% of EMI. Now, we are buying a third house for Rs 1 crore. I have repaid my first home loan completely, though the property is not registered due to builder issues. If I buy the third property in my wife’s name, but take the loan in my name, can I claim the interest paid on the loan in the tax return? My wife is selling one plot to pay Rs 30 lakh for this house, which we want to keep in the home loan max gain (overdraft account). My wife’s income is only Rs 2 lakh and she is not eligible for a loan. Adhil Shetty, CEO, BankBazaar: Lenders often insist that the co-owners of a property be co-borrowers as well.

Zomato's CEO Deepinder Goyal a new position in the company Chief Fitness Officer Anmol Gupta, who started his career as a financial analyst before his journey into the health wellness and fitness industry, has joined the food delivery platform as chief fitness officer. Anmol Gupta will work closely with Zomoto employees in their individual journey of wellness and healthy living. He will also work with an in-house wellness team of trainers, nutritionists and wellbeing counsellors.

TPG Telecom has been quietly negotiating a multibillion-dollar sale and leaseback of its non-mobile fibre assets with Macquarie-backed rival Vocus in a bid to lighten its $6.2 billion debt load, Street Talk can reveal.

Ola Electric. The name, coincidentally translates to 'electricity,' cleverly aligning with the company's identity. The pictures, shared by Aggarwal on microblogging site Twitter has now gone viral.

Quant Mutual Fund has earned a name for itself with its impressive performance in the last few years. However, most of its schemes have been underperforming for a while. ETMutualFunds reached out to Sandeep Tandon, CEO of Quant Mutual Fund, to find out what is happening and what is he doing about the situation. “We have been vocal about the fact that for us, investment is about primarily managing risks and returns are therefore a by-product,” says Tandon. “Our VLRT Framework and Predictive Analytics indicators are used to dynamically maximize the opportunities across the portfolios. As you are aware, we have demonstrated the same in the past and emerged as an outlier in most of the categories in which we operate.” Edited interview.Equity schemes of Quant Mutual Fund have been underperforming for a while. Most investors, who were used to the stupendous performance of these schemes in the last few years, are concerned. What’s happening? It is imperative to focus on long term wealth creation and not be distracted by intermittent blips of market volatility. At quant MF, active identification and participation in growth opportunities is done (through our Predictive Analytics toolkit) while exercising due caution (through our VLRT Risk Mitigation framework). This is the only recourse that can help build meaningful wealth and preserve it through the volatile years ahead.

Deepak Shenoy, Founder, Capital Mind, says “in the near term, Narayana Healthcare stock prices have gone up and so there may be some corrections. But longer term, it should be valued at much higher than it is as the Cayman Islands capex comes through and as some of the expansion within India also takes place. I do not believe they are too expensive.

LIC Mutual Fund (LIC MF) on Monday said it has completed the takeover of schemes of IDBI Mutual Fund. The move is in line with LIC MF's aim to strengthen and diversify its product offerings, expand footprint and grow its assets under management (AUM) to emerge as a leading fund house in the country, according to a statement. The merger is effective from July 29. As of June 2023, LIC MF had an AUM of Rs 18,400 crore, while IDBI MF had Rs 3,650 crore.

CapitaLand is looking to enter real estate funding and scale the renewable energy segment as it continues to expand its portfolio of office and industrial parks, Sanjeev Dasgupta, CEO, CapitaLand Investment India and CapitaLand India Trust, told ET. The company currently has about 22 million square feet of business parks and about 7.5 million square feet of industrial parks. It plans to scale up the portfolio to 50 million square feet in the next three years.

Paytm brand, wants the government to bring payment segment devices under the production-linked incentive scheme to boost local production, a top company official said on Monday. Paytm founder and CEO Vijay Shekhar Sharma said the company has started manufacturing soundbox devices in India even though local production attracts higher taxes compared to imported ones. While announcing the launch of two new models of payment soundboxes, Sharma said that India is a services-dominated country and there is a need to go towards manufacturing for job creation.

Foxconn Technology Group, the main supplier for Apple, has plans to invest nearly ( ₹4,100 crore) $500 million in the construction of two component factories in India, according to a report by Bloomberg News on July 31. The chosen location for these factories will be in the southern state of Karnataka. It is anticipated that at least one of these facilities will be dedicated to manufacturing Apple components, including those used in iPhones.

Maruti Suzuki: Maruti Suzuki India, the largest passenger car manufacturer in the country, reported a standalone net profit of ₹2,485.1 crore in the quarter ended June 2023. The company’s net profit jumped by a robust 145% as compared to ₹1,012.8 crore in the same quarter last year. This was on account of larger sales volume, improved realization, cost reduction efforts and higher non-operating income.

cosmetics, including lipstick, nail polish and eyeliner, were sold in the past six months in the top 10 Indian cities. Customers spent more than ₹5,000 crore on these beauty products, with 40% of them buying online, according to Kantar Worldpanel's first study on the category in India.

Kotak Mahindra Bank (KMB), India's third-largest private lender by market value, has denied that the banking regulator has suggested it hire an external candidate to succeed founder-CEO and richest Asian banker Uday Kotak, who is set to give up executive responsibilities at the end of this year. The ₹3.7-lakh-crore bank, among the four large lenders that make up India's top fifteen companies by market capitalisation, also denied a report that the RBI had directed it to reduce its stake in insurance ventures.

Foxconn may invest up to $500 million to set up a new unit near the Kempe Gowda international airport in Bengaluru to make smartphone accessories, multiple sources aware of the development told ET. The investment is likely to be done by Foxconn Industrial Internet (FII), a subsidiary of Foxconn. Earlier in the day, Foxconn Industrial Internet (FII), a subsidiary of Foxconn signed a memorandum of understanding with Guidance Tamil Nadu to establish a new manufacturing facility in Kancheepuram district for electronics components.

₹1,500 crore," Karan Taurani, senior vice-president at Elara Capital Ltd, said. Though growing rapidly, contribution of the streaming networks of Zee, Sony, Disney Star and Viacom18 to overall revenue is far behind TV, said Sahil Chopra, founder CEO of digital marketing firm iCubesWire.

Bloomberg reported that RBI is “nudging Kotak Mahindra Bank Ltd to select someone outside the lenders’ ranks to succeed Uday Kotak as the next chief executive officer". The report also said that RBI has conveyed its view to board members of Kotak Mahindra Bank. It said that “RBI is also reviewing whether stakes the banking group holds in two wholly-owned insurance units pose any risks to the firm’s stability".

(Reuters) — X, the social media company formerly known as Twitter, said on Monday that owner Elon Musk will lead the product and engineering teams, while its Chief Executive Linda Yaccarino will lead all other teams including legal and sales.

Last year, two former heads of Wells Fargo Advisors left the firm. The exodus of senior wealth management executives with decades of experience at Wells Fargo and its numerous predecessor firms continues, with John Peluso, the head of its brokerage clearing operations, First Clearing, retiring at the end of September.

MUMBAI : Adani Green Energy Ltd (AGEL) and Adani Energy Solutions Ltd (AESL), previously known as Adani Transmission Ltd, on Monday, reported mixed financial results for the first quarter of FY2024. Adani Green Energy’s consolidated net profit increased by 50.5% year-on-year to ₹322 crore from ₹214 crore in the previous year, while its revenue rose by 41.3% to ₹2,404 crore from ₹1,701 crore in Q1 FY2023. AGEL’s Ebitda from power supply increased by 53% year-on-year to ₹1,938 crore, with a high Ebitda margin of 92.5%.

Wow, that was fast. It took only eight months to find ChatGPT and generative artificial intelligence’s Achilles’ heel. No, it isn’t naive management, though OpenAI CEO Sam Altman did declare that AI poses a “risk of extinction" for humanity and practically begged a Senate Judiciary subcommittee to regulate AI, and then when the European Union actually did pass regulations, he threatened to pull out of the region.