Corporate News
Founder Transition: Brij Bhushan Moves On from Zomato-backed Magicpin
In a heartfelt post shared on LinkedIn, Bhushan reflected on his nine-year journey at Magicpin, describing it as a rollercoaster ride filled with growth, challenges, and invaluable lessons. He expressed his decision to step back, emphasizing the need to take a pause for personal rejuvenation.
CEO Dhruv Agarwala: Housing.com's Stance on Acquisitions and Growth Opportunities
As a subsidiary of Australia-based REA Group, REA India aims to consolidate its position by nurturing both Housing.com, the real estate classified platform, and PropTiger.com, the residential brokerage portal. Agarwala emphasized the company's commitment to reinforcing its existing ventures to foster growth and resilience.
P&G India Names Kumar Venkatasubramanian as New CEO
This transition marks the departure of LV Vaidyanathan, who, after dedicating 28 years of service to P&G, will be moving on to pursue other endeavors, as stated in an official announcement.
Expanding Horizons: Bira 91 Secures $25 Million for Manufacturing Growth
Ankur Jain, Founder and CEO of Bira 91, expressed enthusiasm about the new partnership, stating, "As Bira 91 continues to advance its growth strategies across various markets and bolster its supply chain, this collaboration will significantly reinforce the company’s financial position."
Rozana Secures $22.5 Million in Funding for Rural E-Commerce Expansion
Ankur Dahiya, CEO and Co-founder of Rozana, expressed excitement about the funding, stating, "This investment will fuel our efforts in expanding our logistics and supply chain infrastructure, enabling us to reach more districts and provide rural communities with essential products."
Byju's Legal Showdown: Investors and Edtech Company Clash in NCLT
The investors contended that Byju's board of directors should have convened an Extraordinary General Meeting (EGM) of shareholders prior to initiating the rights issue, providing them with an opportunity to vote on the matter. They argued that the board's failure to do so implied a lack of confidence in garnering shareholder support.
Edtech unicorn PhysicsWallah registers 91% drop in net profit
The company experienced a sharp decline in net profit, plummeting to Rs 8.9 crore in the fiscal year 2022-23 (FY23), down from Rs 98.2 crore in the preceding fiscal year FY22.
Hero MotoCorp Reports 51% Surge in Q3 Net Profit, Announces Rs 100 Dividend per Share
In a significant move, the company's board has proposed an interim dividend of Rs 75 per share for the ongoing fiscal year. Additionally, recognizing the centennial year of Chairman Emeritus Dr. Brijmohan Lall Munjal, the board has recommended a special dividend of Rs 25 per share.
Zomato CEO Deepinder Goyal Acquires Two New Delhi Plots Valued at Rs 79 Crore
In the first transaction, Goyal reportedly paid Rs 1.74 crore in stamp duty and Rs 29 crore for 2.5 acres of land. For the second transaction, he paid Rs 3.50 crore in stamp duty and acquired 2.53 acres of land for Rs 50 crore. Both land deals were finalized in the previous year.
IndiGo Reports Robust Q3 Revenue Surge Amidst Concerns over Rs 511,875 Million Debt Landscape
The airline reported an EBITDA of Rs 54,751 million with a 28.1% increase, excluding foreign exchange loss. A profit of Rs 30,491 million was recorded, compared to Rs 20,091 million in the corresponding period of the previous fiscal.
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