Corporate News
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.
Apple Appoints Indian-Origin Kevan Parekh as New CFO
Apple's Chief Executive Officer, Tim Cook viewed the elevation of Mukesh in the following way: "For over a decade, Kevan has been an indispensable member of Apple's finance leadership team, and he knows Apple inside and out. His astute intellect, wise judgement and financial brilliance make him the ideal choice to be Apple's next CFO."
LinkedIn Appoints Kumaresh Pattabiraman as Country Manager and Product Head for India
Currently, LinkedIn has over 135 million members of its community, with India being its second-largest and fastest-growing market.
Nestlé Names Laurent Freixe as New CEO, Replacing Mark Schneider
The leadership change came after rivals, including Unilever and Danone, had been driving sales volumes forward over the past two years, while Nestle lagged following a strong performance immediately after the pandemic and last month cut its full-year sales outlook.
Zerodha Celebrates 14 Years; CEO Nithin Kamath Emphasizes Recovery and Passion
Kamath, who had suffered "a mild stroke" earlier this year, said it was time he returned to his passions.
Hindalco Reports 25% Growth in Q1 Net Profit, Reaches Rs 3,074 Crore
Consolidated revenue from operations of the company rose 7.5% to Rs 57,013 crore in the quarter ended June. However, the company faced headwinds from higher expenses on account of disruptions at its Novelis plant in Switzerland. Novelis, which contributed more than 60 per cent to the firm's total revenue, suffered a net cash impact of $80 million because of the shutdown of its facility in Switzerland.
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