CEO Financial News

Nifty ended 73 points lower. Nifty is currently placed at the immediate support of 10-day EMA at 19,650 levels and the important lower support of 20-day EMA is placed around 19450 levels. The said 20-day EMA has been holding for the past three months and has offered support for Nifty to witness upside bounces from it in the past, said Nagaraj Shetti of HDFC Securities.

By Supantha Mukherjee and Martin Coulter

As crypto entrepreneurs such as FTX co-founder Sam Bankman-Fried and former Celsius CEO Alex Mashinsky face criminal allegations of misconduct and possibly prison time, one of the Justice Department’s earliest collars has a message for today’s players: Get compliant. Charlie Shrem was an early apostle of cryptocurrency, earning millions of dollars trading bitcoin and treated like a rock star worldwide, with fans at conferences snapping photos of him and pushing business cards at him.

Elon Musk has officially rebranded the microblogging platform he owns. Formerly known as Twitter, the platform has now been unveiled as "X." This development comes as no surprise, as Musk had previously engaged his followers by requesting them to design mockups for the new logo. He promised to select a "good enough" design to be adopted globally, and he has now fulfilled that commitment.  As evident by the appearance of the X affiliate badge alongside the blue tick on Musk's profile, the change has been implemented and Twitter is now officially recognized as X.

₹119 crore year-on-year against a loss of ₹220 crore during the corresponding quarter last fiscal year. The net interest income (NII) of the company touched 102% and the assets under management (AUM) grew 60% to ₹8,848 crore during the period under review.

ITC officially announced the demerger of its hotel business on Monday (July 24), putting all the rumours to rest. However, the news triggered a sharp selloff in the stock as shares of ITC fell 3.87 per cent to close at ₹470.90.

Elon Musk has unveiled a new black and white «X» logo to replace Twitter's famous blue bird as he follows through with a major rebranding of the social media platform he bought for $44 billion last year. Musk replaced his own Twitter icon with a white X on a black background and posted a picture on Monday of the design projected on Twitter's San Francisco headquarters.

The Established Secures Investment from Brand Capital

JLR India on Monday reported its best-ever Q1 sales performance with a growth of 102 per cent, retailing a total of 1048 units, in the first quarter of FY24 compared to the same period last year. The company in a statement attributed this growth to a rise of about 209% in Range Rover, Range Rover Sport and Defender sales. The three models contribute to 78% of the current order book and the order book for Q1 FY24 grew by 88% as compared to the same period last year. “This (highest ever Q1 sales) performance is testament to the exceptional equity of the JLR brands and our class-leading collection of modern luxury vehicles. Backed by the growing demand among our discerning clients, our order book remains strong and growing, and we are excited and confident of our India story ahead,” said Rajan Amba, Managing Director, JLR India. The JLR-certified pre-owned business grew by 137 per cent in the first quarter of FY24, again, reflecting the growing demand and the equity of JLR brands in India, said company’s statement. The company is looking forward to its new launch, starting with Range Rover Velar – bookings for which have recently commenced.

In cryptocurrency's ever-evolving landscape, Bitcoin's price continues to capture attention as it trades at $29,723, experiencing a slight decrease of nearly 0.50% on Monday.

The chief executive of a Spanish pipe manufacturer has been appointed as the new boss of InfraBuild, the local steel business regarded by analysts as the best performing asset in Sanjeev Gupta’s global GFG Alliance.

(Reuters) -AMC Entertainment CEO Adam Aron said on Sunday the company filed a revised petition for a stock conversion plan to address the Delaware court's concerns over other shareholders.

By Anna Tong

Birlasoft share: Following weakness in IT stocks after weak Q1 results 2023 by leading Indian IT companies — Infosys, TCS, Wipro and HCL Tech — Birlasoft shares witnessed huge sell off pressure during early morning deals on Monday. However, Birlasoft share price bounced back strongly from intraday lows after announcement of IT company collaborating with Microsoft to establish generative AI centre of excellence, driving value creation and innovation.

Elon Musk had announced the decision to rebrand the social media giant and do away with the iconic Blue Bird logo. Showcasing the new Twitter logo via a post on Monday, CEO Linda Yaccarino wrote, “X is here! Let’s do this." In a post earlier in the day, Yaccarino called the decision to rebrand Twitter as a ‘second chance’.

Wesfarmers’ Target is being folded into its discount stablemate Kmart, creating a singular $10 billion business with the aim of boosting returns as value offerings become more desirable to shoppers battling the rising cost of living.

Adidas alleged that it deposited $75 million into two Yeezy bank accounts, but according to Bloomberg, Kanye West (Ye) and his associated companies "mishandled almost all of the marketing funds." They reportedly failed to maintain proper separation of the funds and used them for unauthorized purposes. In May 2023, CEO of the German sportbrand Bjørn Gulden later said that the company decided to sell a portion of its remaining inventory and donate the proceeds to chartitable organizations.  Adidas reported 400 million euros (USD 441 million) in lost sales at the start of 2023.

Havas Media Network India has appointed Ramsai Panchapakesan as managing partner- investments for Havas Media India.

Greta Gerwig's gender wars "Barbie" and Christopher Nolan's nuclear war "Oppenheimer" blew past already-stratospheric prerelease expectations at the weekend box office to collect a combined $235.5 million in the United States and Canada, an astounding total that sent a clear message to Hollywood: If you want to commandeer the culture, you must give moviegoers something new — not just the same old threadbare franchises. «Original storytelling executed in the right way has broken out in a really remarkable way,» said Richard L. Gelfond, the CEO of IMAX, which accounted for 26% of the «Oppenheimer» turnout in North America, selling out even 4 a.m.

Narendra Modi and President Joe Biden during their meeting at the Oval Office last month spent a “plurality" of their time having discussions on China and its leader Xi Jinping, according to a senior administration official familiar with the discussion. As reported by PTI citing a senior administration official on conditions of anonymity, “In the Oval Office meeting between Modi and Biden, a plurality of that time was just spent talking about China...

(Reuters) — French-Italian automaker Stellantis and South Korean battery maker Samsung (KS:005930) SDI on Monday said they plan to open a second joint-venture plant in the U.S. to build electric vehicle batteries, with a target to start production in 2027.