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The Economic Times
The Economic Times NARCL invites application for MD & CEO post
The National Asset Reconstruction Company (NARCL) is seeking a new managing director and CEO with 25 years of banking experience. The company has appointed P Santhosh as interim chief after the abrupt exit of MD&CEO N Sunder. The new MD and CEO will be given a three-year tenor and will acquire about Rs 2 lakh crore stressed assets in phases.
The Economic Times FY25 to be transformative year, says Vedanta's Anil Agarwal
"These include further deleveraging (parent) Vedanta Resources by USD 3 billion in the next 3 years and achieving an annual group EBITDA of USD 7.5 billion within 2 years," he said.
The Economic Times FPO funds to take care of Vi’s capex needs for 3 years: Akshaya Moondra, CEO
The balance sheet doesn’t pose any worries, with bank debt at less than Rs 4,500 crore, Moondra said, adding that the FPO will raise enough money to meet capital expenditure needs for three years, with 4G expansion the priority. This will help narrow and ultimately stem subscriber losses and lead to a financial turnaround.
The Economic Times Former Unacademy COO raises $11 million from Matrix, Lightspeed for new edtech venture
Bengaluru-based startup Beyond Odds Technologies will provide employability-led training, certification, and recruitment services in the grey-collar workforce segment. It connects employers on the demand side to its talent supply base among students.
The Economic Times Dailyhunt parent acquires Magzter, grows revenue from ads to subscriptions
Homegrown digital newsstand Magzter, founded in 2011 and offering a cross-platform, self-service experience, has been acquired by Dailyhunt. This deal, with undisclosed financial details, marks Dailyhunt's entry into the premium content market, as Magzter boasts a library of over 8,500 premium magazines and newspapers.
The Economic Times Discounts, freebies drive in as automakers seek to push sales
Carmakers in India are offering discounts and freebies to attract new buyers and clear record inventory levels. Dealership stock reached an all-time high of 310,000 vehicles at the start of the financial year, leading companies to push sales by expanding into smaller towns and cities. This could be the first price war since the easing of the pandemic.
The Economic Times Binance to restart operations in India as compliant FIU-registered entity
Binance returns to India, paying $2 million penalty, seeking compliance with PMLA. Its re-entry may reshape the market dynamics with superior technology and liquidity, amidst soaring bitcoin and ethereum values.
The Economic Times IIFL Finance plans Rs 1,272-crore rights issue
On April 16, shares of the company declined 2.35% to 421.7 apiece. Mumbai markets were shut Wednesday. A rights issue is an incentive for existing shareholders to buy more shares of the company at a discount.
The Economic Times Fed there done that: Banks see delay in rate cuts by RBI, too
Federal Reserve Chair Jerome Powell Tuesday did not provide any guidance on when interest rates may be cut, saying instead that monetary policy needs to be restrictive for a longer period.
The Economic Times India's economy to grow at 8-8.3% in current fiscal: PHDCCI
According to the PHDCCI, India's economy is projected to expand by 8-8.3 percent in the current fiscal year. Furthermore, the country's GDP is expected to achieve an average growth rate of 6.7 percent over the next 23 years, resulting in India becoming a USD 34.7 trillion economy by 2047, accompanied by a per capita income of USD 21,000.
The Economic Times Adani-EdgeConneX JV looks to juice up data centre business, plans to invest $5 bn in next 5 years
AdaniConneX plans to develop 1 GW of data centre capacity before 2030. It is in talks with several international banks to raise $1.2-1.4 billion in an offshore loan to ramp up growth plans that should be closed in the next couple of weeks.
The Economic Times Reliance Consumer hits it big in 1st year which took rivals decades; co logs sales of Rs 3k cr in FY24
Reliance Industries' fast-moving consumer goods (FMCG) company, Reliance Consumer Products (RCPL), clocked ₹3,000 crore sales in FY24, its first full year of operations. Beverage brand Campa Cola contributed ₹400 crore, according to a senior industry executive. The company aims to continue sales growth momentum driven by staples and beverages. RCPL may raise ₹500-₹700 crore this fiscal from its parent company to set up bottling plants for Campa Cola to boost capacity amid supply constraints.
The Economic Times Fuel prices seen stable for now, inflation in check
Easing food inflation may also counteract some of the increases due to oil. In March, consumer inflation eased below 5% for the first time in five months. IMD on Monday projected an above-normal monsoon in 2024, which could help contain food inflation. The outlook for the rupee also looks better for now.
The Economic Times Technical leadership is becoming a critical differentiator at senior level hiring
C-suite leaders must now possess technical skills alongside traditional leadership qualities. Companies emphasize the importance of understanding tech for strategic decision-making. Technical expertise is increasingly becoming a requirement at all levels of leadership.
The Economic Times Kanodia group buys land in Gurugram for Rs 153 crore, to develop a luxury residential project
Kanodia Group acquires 1.74-acre land in Gurugram for Rs 153 crore, planning luxury project with Rs 1,000 crore revenue target. Gautam Kanodia, Co-Founder, announced entry into luxury residential space in NCR market. Project launch by year-end, completion in 48-60 months. Group to invest Rs 5000 crore in real estate over 5-7 years.
