Corporate News
Hemant Jain Appointed as the New President of PHDCCI
It is an honor to lead PHDCCI at this transformative time," Jain said in a statement.
Bandhan Bank Reports 24.6% Business Growth in Q2
Collection efficiency ratio of the bank across all business verticals at the end of the second quarter of the current financial year stood at 98.2 per cent, compared to 98.7 per cent in the preceding quarter.
India Projected for 9.5% Salary Increase in 2025 as Attrition Rate Declines, Report
Doubling-digit increase is also projected in the engineering and manufacturing and retail industries, behind only financial institutions with a 9.9 percent increase, meaning talent is the strategic advantage employers in those sectors want to achieve in the current economic environment as Aon, a global professional services firm, concludes in its report.
Amway Appoints Michael Nelson as President and CEO, Succeeding Milind Pant
"Nelson succeeds Milind Pant, who had served as CEO since January 2019," said the company in a statement.
CRED Reports 22% Increase in Net Loss to Rs 1,644 Crore for FY24, While Revenue Soars by 66%
Operating revenue rose 71% to ₹2,397 crore in FY24 for the Kunal Shah-led fintech company over ₹1,400 crore in FY23. Total revenue jumped a similar 66% to ₹2,473 crore from ₹1,484 crore in the preceding fiscal year.
JPMorgan to Continue Expanding Its Operations in India Amid Strong Growth
The country must, however, continue to work on its manufacturing ecosystem and scalability to be able to avail the "China Plus One" strategy.
Zerodha CEO Warns of Significant Revenue Decline Later This Year
According to a blog post, Kamath said SEBI's true-to-label circular will go live on October 1, 2024 and "we expect a 10 per cent revenue dip."
Edtech Giant Physics Wallah Raises $210 Million, Reaches $2.8 Billion Valuation
With the offline expansion and listing plans in the pipeline, the new funding round takes the valuation of the edtech major to $2.8 billion, that is, 2.5 times what it was worth two years ago.
Logistics Firm Western Carriers Raises Rs 148 Crore from Anchor Investors
"Western Carriers (India) Limited has allotted 85,96,743 Equity Shares to 15 anchor Investors and mobilised ₹148 crore ahead of company's proposed IPO at the upper price band of ₹172 per equity share (including premium of ₹167 per equity share) with face value of ₹5 per share," the filing said.
Vedanta Approves 3rd Interim Dividend of Rs 20/Share; FY25 Total Dividend Payout Reaches Rs 13,474 Cr
The board had earlier approved the second interim dividend of Rs four per equity share for 2024-25 amounting to Rs 1,564 crore on July 26. The company had approved the first interim dividend of Rs 11 per equity share for FY'25 amounting to Rs 4,089 crore on May 16.
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