Diageo India has announced the appointment of Praveen Someshwar as CEO-Designate, succeeding Hina Nagarajan, the current managing director and CEO. Nagarajan, who has led the company for four years as part of Diageo’s Global Executive Committee, will transition to a new role within the organisation.Someshwar will join Diageo India on March 1 as CEO-designate and
The financial bids for the strategic sale of IDBI Bank will likely be received by March but the conclusion of the transaction may extend to the next financial year, sources said. In December, the Reserve Bank of India (RBI) issued the ‘fit and proper’ certificate to the shortlisted bidders. Since investment bankers were on extended
The country’s third-largest IT services provider, HCLTech, added 2,134 employees during the quarter ended December, bringing its total headcount to 220,755. This marks a recovery from the previous quarter when the company recorded a reduction of 780 employees. In contrast, Tata Consultancy Services (TCS), the largest IT services company, reported a net decline of 5,370
Co-working major WeWork India announced on Monday that it has raised ₹500 crore through a rights issue of securities. The funding comes from its shareholders, WeWork’s global parent and the Embassy Group. The funds will be used to repay existing debt, reduce the cost of capital, and help the company achieve a debt-free status, the
Quick-commerce unicorn Zepto will no longer require a no-objection certificate (NOC) from the Reserve Bank of India (RBI) to merge its Indian and Singapore entities, according to a recent ruling. This is a crucial step for its IPO planned later this year. On January 9, the Mumbai bench of the National Company Law Tribunal (NCLT)
In what signals the Narendra Modi 3.0 government’s resolve to revive loss-making electricity distribution entities (discoms), BJP-led Uttar Pradesh government has started the process to privatise two of the state’s five discoms. Private companies are invited to either form partnerships with or take over the state-owned Dakshinanchal Vidyut Vitran Nigam and Purvanchal Vidyut Vitran Nigam
United Spirits (Diageo India) has announced that Praveen Someshwar will be appointed as the new chief executive officer-designate starting March 1, replacing Hina Nagarajan. Nagarajan, who has successfully led Diageo India for four years as the managing director and CEO, will be joining Diageo’s global executive committee. This leadership transition marks a significant moment for
HCL Technologies (HCLTech), one of India’s leading IT firms, reported a modest 7% average salary hike for its employees, while its CEO, C Vijayakumar, received a staggering 190% increase in remuneration for the fiscal year 2023-24. The company also posted robust Q3 FY25 financial results, including a 5.5 per cent rise in net profit to
DA Calculation for Central Government Employees: The Confederation of Central Government Employees and Workers has urged the Centre to consider revising the computation formula for dearness allowance for central staff and pensioners. In a letter addressed to the Union cabinet secretary, S B Yadav, secretary general of the confederation – representing about 7 lakh employees
The Supreme Court (SC) on Friday stayed a 2024-Delhi High Court (HC) ruling, which had allowed a private equity firm Tiger Global to avail tax benefits arising from the India-Mauritius Double Taxation Avoidance Agreement (DTAA), on transactions made prior to April 1, 2017. Experts say the SC stay order may bring tax-related uncertainty for foreign
JSW Steel Ltd on Friday reported a profit of Rs 719 crore during the fiscal third quarter, posting a decline of 70.65 per cent from Rs 2450 crore recorded during the corresponding quarter of FY24, surpassing estimates. It posted revenue from operations at Rs 41,378 crore, down 1.34 per cent as against Rs 41,940 crore
The HPZ Token scam, in which eight payment gateways, including Paytm, PayU, and Razorpay, have been under the Enforcement Directorate’s (ED) scanner as per a report by The Times of India, is said to have started with the launch of the ‘HPZ Token’ mobile app. The app-based token promised investors humongous gains by investing in
Most pharma stocks traded in the red during Friday’s session, with the Nifty Pharma index falling 2.19% at 21,854.15. Dr. Reddy’s Laboratories led the decline, shedding over 5.20%, followed by Mankind Pharma, which also posted significant losses. Amongst the major losers in the Nifty Pharma stocks, Dr. Reddy’s Laboratories saw the steepest decline, dropping 5.15%
