Corporate News
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.
Oyo Achieves Rs 229 Crore Net Profit in FY24, Marking a Milestone
Founder and Group CEO Ritesh Agarwal posted his reminiscence on social media: "One big belief that I have learned over the past—under promise and over deliver. So, there's much to do, but at the very same time, I feel really proud of what we are building together."
Ola Electric Faces ₹347 Crore Loss for April-June Quarter Despite 32% Revenue Growth
On Wednesday, Ola Electric's shares rose 2.6% to close at ₹111 apiece.
HAL Posts 77% Jump in Q1 Net Profit, Reaches Rs 1,437 Crore
Its expenses marginally rose to Rs 3,506 crore for the three months ended June from Rs 3,239 crore during the same quarter last year. Government-owned Hindustan Aeronautics Ltd has benefited hugely from the Modi government's Aatmanirbhar campaign that involves making the nation self-reliant in matters of defense production. It had declared a final dividend of Rs 13 per equity share for the financial year 2023-24; this was 260 percent of the face value of Rs 5 per share in June.
SpiceJet Reports 20% Drop in Q1 Net Profit to Rs 158 Crore
However, on a quarter-to-quarter basis, SpiceJet saw a 24% increase in net profit after tax, which rose from Rs 127 crore in the January-March period.
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