Vivo India is set to unveil a new manufacturing unit later this year, a move that will double its production capacity, according to CEO Jerome Chen. This development marks a significant milestone as the company celebrates a decade of operations in India.
In a recent report, Chen highlighted Vivo’s ongoing commitment to India’s ‘Atmanirbhar Bharat’ initiative, emphasizing the strategic…
Byju’s, the cash-strapped ed-tech company, is moving towards resolving its financial dispute with the Board of Control for Cricket in India (BCCI). The company has made an initial payment of ₹500 million to the cricket board, according to reports.
The dispute over unpaid fees, which has been a major issue for Byju’s, is nearing resolution, with lawyers from both sides informing the National…
Mumbai, July 30 (IANS) — The demand for warehousing space in India has surged significantly due to robust activity in the manufacturing sector. According to a report by Knight Frank India, warehouse transactions across eight major markets in India totaled 23 million square feet in the first half of this year.
Nearly 55% of these transactions were in ‘Grade A’ spaces, with Mumbai leading the…
RVNL’s (NS:RAIV) stock saw a notable uptick on Tuesday morning, rising over 2% to reach an intraday peak of ₹626. This increase follows the company’s recent announcement of securing a substantial ₹739 crore contract from the Himachal Pradesh State Electricity Board.
The contract involves the “development of distribution infrastructure in the central zone of Himachal Pradesh” under the…
Hyun Shik Park, the chief operations officer of Ola Cell Technologies, has emerged as the highest-paid executive within the Ola Electric universe for the fiscal year 2024. Despite Ola Electric being known for its dynamic leadership, Park’s compensation surpasses that of founder-chairman Bhavish Aggarwal and other top executives.
Park, who joined Ola Electric in August 2023, received an…
Punjab National Bank (PNB) has delivered impressive Q1 results, marked by a substantial 159% year-on-year increase in profit, driven by a sharp reduction in provisions and robust recoveries. The bank’s gross non-performing assets (NPAs) ratio has significantly improved, and its guidance for FY25 now forecasts a gross NPA ratio of 4%, down from the previous estimate of 5%.
Additionally, PNB has…
As summer approaches with forecasts of unusually high temperatures, Orient Electric, a CK Birla Group company, is poised for significant revenue growth in FY24, driven by strong performance in its fans and coolers segments. Rakesh Khanna, MD & CEO of Orient Electric, shared his optimistic outlook, citing increased demand due to the anticipated heat.
Khanna noted that the company expects a…
The Aditya Birla Group has officially entered the Indian jewellery market with the launch of its new brand, Indriya. Chairman Kumar Mangalam Birla introduced the venture on Friday, July 26, in New Delhi, unveiling the Group’s ambitious plan to become one of the top three jewellery retailers in India within the next five years. This initiative is supported by a substantial investment of ₹5,000…
In an article by Anees Hussain dated July 25, 2024, titled “Esop sale: No tax worries for startup employees,” it was emphasized that recent changes in taxation laws related to share buybacks announced in the Union Budget will not significantly impact startup employees. The amendment, effective from October 1, treats share buybacks akin to dividend income, shifting the tax liability to…
Coca-Cola exceeded earnings expectations for the second quarter and has raised its full-year outlook amid robust global demand for its beverages.
The company now anticipates organic revenue growth of 9% to 10% for 2024, up from a previous forecast of 8% to 9%. Additionally, Coca-Cola has adjusted its comparable earnings growth projection to a range of 5% to 6%, compared to the earlier forecast of…
