C CORPORATION
India Inc now picks its C-level champions from indoor pool
Indian companies like Mahindra and Aditya Birla Group are increasingly focusing on internal talent pipelines for leadership roles, showcasing a shift towards nurturing seasoned professionals for longer tenures within the organization.
Zika virus spreads in Pune: Here's how the virus infects, risks, symptoms, and prevention
Zika Virus (Google Trends): Pune faces a rising Zika virus threat with several recent cases, including two pregnant women. Health authorities are intensifying surveillance and mosquito control efforts. Zika, transmitted by Aedes mosquitoes, poses significant risks during pregnancy, potentially leading to severe birth defects. While symptoms are usually mild, caution is advised, especially for expectant mothers. Here’s a comprehensive overview of Zika virus infection, its symptoms, impact on pregnancy, and preventive measures.
BJP leaders take out protest march to Karnataka CM's residence, taken into preventive custody
On Wednesday, opposition BJP leaders attempted to besiege the Karnataka chief minister's office-cum-residence, alleging rampant corruption by the ruling Congress government. They were prevented and taken into custody. Among the leaders were BJP state president B Y Vijayendra, Leader of Opposition R Ashoka, and former ministers. The BJP claims a Rs 4,000 crore scam in the Mysuru Urban Development Authority (MUDA), implicating Chief Minister Siddaramaiah's wife, and a cover-up in a Rs 180 crore Valmiki Corporation scam, which allegedly led to an official's suicide. Ashoka demanded a CBI investigation into the MUDA scam.
Karnataka to set up solar park in Madhugiri, boost renewable energy production: Minister K J George
The Karnataka government plans to establish a solar park in Madhugiri taluk, following the success of the Pavagada Solar park in Tumakuru. The park will be developed in a strategic partnership with Tehri Hydro Development Corporation India Limited (THDCIL), owned by the central government. The project aims to enhance environmental stewardship and energy security in the state.
Bond inclusion positive for banks; return of FII flows to benefit private banks: Pranav Gundlapalle, Sanford C Bernstein
Private sector banks, particularly HDFC Bank, are poised for growth and profitability. Indian bond inclusion may impact liquidity and interest rates, benefiting the banking sector. Public banks face challenges in profitability and growth compared to private counterparts. Regulatory actions in the NBFC sector may favor established players like Muthoot, says Pranav Gundlapalle.
India keen to speed up power grid link talks with Sri Lanka
India is actively pursuing discussions with Sri Lanka to establish a power grid link, focusing on renewable energy for electricity trading. The project includes overhead and under-sea cables, with economic benefits being evaluated by PwC India and plans for a joint consultant for investment decisions.
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Proceedings initiated against Byju's under companies law 'still ongoing': MCA
Last year, the ministry ordered the inspection of the books of Byju's in the wake of various developments at the edtech company, including its inability to finalise the statements and the resignation of an auditor.
Did China's Long March 2C rocket fail and its debris fall on villagers? The in-depth story
Suspected Chinese rocket debris was observed landing over a village in southwest China. The Space Variable Objects Monitor satellite, created by France and China to study gamma-ray bursts, was carried by the rocket
GST council has taken some far-reaching steps: Pratik Jain, PwC India
The GST on petrol and diesel and all the passenger fuels will take a lot of time. GST on ATF and natural gas could come in hopefully soon, but for other petroleum products like petrol and diesel and other passenger fuels, where a lot of revenue is involved, it will take some time, says Pratik Jain, Partner, PwC India
Aircraft lessor DAE sees China's COMAC breaking Airbus, Boeing duopoly
Airbus and Boeing are the main suppliers of aircraft to airlines, but the European planemaker is struggling to boost production amid record orders and Boeing is under scrutiny from regulators after a mid-air panel blowout on a new plane in January.
Evergrande liquidation law firm probing PwC, others for potential claims
Lawyers for China Evergrande Group's liquidators are investigating its former auditor, PwC, and other service providers to recover losses for creditors. Ordered into liquidation in January due to defaulting on $23 billion in offshore debt, Evergrande's extensive $300 billion liabilities make its case a potential model for future Chinese corporate liquidations. The probe focuses on potential wrongdoing that led to Evergrande's financial collapse.
Surprise poll results impact startups' plans, and other top stories this week
In a week charged with political buzz, the BJP government came back to power after a stormy election, but without a full majority that left it dependent on the whims of its alliance partners. Unnerved, the markets went into a tailspin on counting day, with both benchmark indices, Sensex and Nifty50, dropping 8% intraday. They recovered a day later as hopes of a stable government revived.
Manufacturing theme offers a diversified portfolio. Anthony Heredia explains how
We believe the Production Linked incentive (PLI) along with the need for global corporates to de-risk their China play offers a secular opportunity that is likely to pan out over the next 3-5-7 years. Government is also monitoring the PLI implementation, making necessary changes if needed to resolve any problem areas as well as adding more products covered under PLI.
NCLT allows fresh round of bidding for KSK Mahanadi
The National Company Law Tribunal (NCLT) has allowed KSK Mahanadi Power Company Ltd's committee of creditors (CoC) to invite fresh bids for the company. This decision comes after the tribunal dismissed Megha Engineering & Infrastructure Ltd's objection, stating that the first round of bidding had already attracted interest from 12 prospective resolution applicants. The resolution professional (RP) argued that the change in circumstance, with KSK Mahanadi undergoing corporate insolvency resolution process (CIRP) on a standalone basis, warranted fresh bidding. The second round of bidding has seen interest from entities like Coal India Ltd and NTPC Ltd.
3C IT Solutions IPO opens today: Check issue size, price band, GMP and other details
The SME IPO of 3C IT Solutions will open today, aiming to raise Rs 11.44 crore. India's GII ranking improved to 40th position, making it a top offshoring destination for IT companies. Kreo Capital is the lead manager for the IPO.
DMRC ensures cool commutes at 24 deg C, daily ridership hits 60.17 lakh in May
DMRC ensures comfortable journeys at 24 degrees Celsius for 60.17 lakh passengers in May, amid scorching heat. Record ridership with over 4,200 daily train trips covering 1.40 lakh km, providing relief with pleasant commuting experience.
PWC to become OpenAI's largest enterprise customer, WSJ reports
PWC will roll out a version of Microsoft-backed OpenAI's flagship chatbot catered towards large companies- ChatGPT Enterprise, according to the report.
China enhances military support to Pakistan along LoC in Kashmir
This move is seen as part of efforts to strengthen China's ties with Pakistan and safeguard Chinese investments in Pakistan-occupied Kashmir, particularly related to the China-Pakistan Economic Corridor (CPEC).
NCLAT upholds Adani Goodhomes bid with 93% haircut for Radius Estate
The Insolvency Appellate Tribunal NCLAT upheld its Adani Goodhomes' resolution plan for Radius Estate. NCLAT rejected petitions from two dissenting financial creditors, and approved the plan to provide possession to nearly 700 flat owners without price escalation. The plan was opposed by Beacon Trusteeship and ICICI Prudential Venture Capital Fund Real Estate, who claimed it was unfair, but NCLAT affirmed the Commercial Creditors' Committee's decision.
The rising importance of the chief trust officer
Businesses are emphasizing trust by appointing a Chief Trust Officer (CTrO) to oversee trust-building initiatives. This role involves assessing trust levels within and outside the organisation, focusing on domains like corporate culture, compliance, and customer experience.
Sauce VC launches third fund eyeing a corpus of Rs 250 crore
New Delhi-based investment firm Sauce VC, which has backed new-age luggage brand Mokobara, healthy foods startup The Whole Truth and petcare firm Supertails, aims to raise Rs 250 crore for its third fund. This comes as D2C firms see growing interest from risk capital investors. The firm looks to back 15-16 consumer brands in their early stages.
NFRA to engage with some big listed companies on audit compliance
The regulatory outreach could involve the NFRA's engagement with audit panels, independent directors, chief financial officers and others on the boards of these companies, said one of the persons. The regulator is close to finalising a framework to hold such huddles and may invite listed companies, where large public interest is involved, for such meetings, according to another person.
Can leaders show profitability and sustainability together?
SAP conducted a sustainability study revealing 86% of Indian organizations see a link between sustainability and profitability. Manish Prasad emphasizes sustainability's importance for business success.
RBI approves appointment of Pradeep Kumar Sinha as Part-time Chairman of ICICI Bank
The RBI has approved Pradeep Kumar Sinha's appointment as Part-time Chairman of ICICI Bank, effective July 1, 2024, for a three-year term.
Company boards are getting younger, but balancing vitality with expertise is key to success
Organisational leadership is evolving with younger individuals joining company boards in the dynamic startup landscape. While they bring fresh perspectives and innovation, challenges arise from limited experience in governance. Diverse boards with a mix of young and experienced members are crucial for informed and adaptable strategies for long-term success.
Insurers are having a Chillar Party: Maternity insurance sales skyrocket as couples brace for soaring costs
Rising childbirth costs in India drive a surge in demand for maternity insurance, growing at 80% annually. PolicyBazaar data reveals 78% of policies are bought by men. Insurers see these policies as customer magnets despite expected claims. Factors like urbanization and increased C-sections contribute to the trend. Reliance General Insurance reports a 21.5% increase in C-section deliveries since 2016.
PMS Tracker: 22 PMS schemes gave double-digit returns last month
Invasset's Growth Pro Max Fund was the biggest gainer in the pack with a monthly return of 17.14% in January. The multi-cap fund has given an astonishing return of 133% in the last one year period, shows data pulled from PMS Bazaar.
C-suite hiring trends open doors to new roles in non-tech industries
Hirings and firings in the technology sector are creating opportunities in emerging roles in non-tech sectors like manufacturing, healthcare, and various industries. Demand for leadership talent is increasing, focusing on skills like data science and ESG. Cultural fitment is a challenge for organizations and talent.
Corporate India produces a flop succession show
Data from Deloitte shared exclusively with ET shows that the process works at just one of four organisations, although seven out of 10 do have a framework in place for succession planning.
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