PROFESSIONALISE OPERATIONS
Pen'n'paper just won't pass
NTA conducted Joint Entrance Exams (Main) 2024 in two sessions - January and April - totalling over 1.4 mn distinct students via 500-plus exam centres across more than 300 cities in India and abroad. Paper 1 for BTech/ BE admissions in 13 languages was fully CBT, spread over 10 shifts in 5 days. The mega operations were conducted almost free of online glitches, although there were some past issues concerning impersonation due to ambiguities in Aadhaar-based authentication.
Executive search space heats up on the back of growing demand for leadership talent
Growing at 15-20% year-on-year, India’s retained executive search market has a mix of global search majors, search network firms, mixed model firms, boutique players and even one/two person outfits. Globally, five firms – Spencer Stuart, Heidrick & Struggles, Russell Reynolds, Egon Zehnder and Korn Ferry collectively called SHREK – dominate the executive search space. In India too, their market share is over 50%, say industry insiders.
Vijay Shekhar Sharma: Can the whiz-kid from Aligarh rock again?
Vijay Shekhar Sharma, the founder and CEO of Paytm, has built the company from a startup to India's biggest mobile payments company. However, a recent regulatory move by RBI banning Paytm's payments bank for violations has put the company's future at risk. Sharma's focus on growth and big numbers may have led to regulatory compliance issues, but his determination and resilience may help Paytm survive this setback.
Chief human resources officers become a resource to be reckoned with
Since June, at least 25 CHRO appointments have taken place across India Inc. Wipro Enterprises, Mphasis, Dabur, Welspun, Sterlite Power, Edelweiss Tokio Life Insurance, Lenskart, ITC Infotech, Godrej Agrovet, Godfrey Phillips India and InsuranceDekho are among those who've hired CHROs in the last six months. There is a rush among companies to hire more.
Backed by Deepinder Goyal, ChefKart simplifies the process of finding a home cook
By placing professionally trained chefs at home, ChefKart wants to intertwine the availability of gourmet food with a health-conscious lifestyle.
How Jet Airways founder Naresh Goyal built a successful airline and then sank it
Naresh Goyal, the founder of Jet Airways, has been arrested by the Enforcement Directorate in connection with a money-laundering case. Goyal, who once led India's largest domestic airline, faced financial problems after acquiring rival Air Sahara in 2007 and making costly mistakes in fleet configuration. Jet Airways ultimately suspended all flights in April 2019 due to a lack of funds. Goyal's arrest marks a significant downfall for a man who was once highly successful in the aviation industry.
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If the shoe fits: Family, business and how the Liberty Group is working on its succession planning
Succession planning is never easy and greatly compounded when you’re dealing with close to 100 family members and a 69-year- old legacy business, reveal family members of the Liberty Group.
Epic saga of Cipla: How a swadeshi Robin Hood took on Big Pharma of the West
Cipla has been closely associated with India's struggle for independence, with Khwaja Abdul Hamied forming the company in 1935. For the Big pharma in the West, Yusuf Hamied was a pirate; for poor patients in India and African countries, he was a do-gooder; for Cipla, he was a sharp businessman who would spot his chance and grab it.
Davidson Kempner begins rejig of Aakash board
The hedge fund is inducting at least four new independent and nominee directors in the test-prep subsidiary of Byju’s parent Think & Learn, said people in the know. The new board is expected to take charge within a fortnight. Founder and CEO Byju Raveendran will be the sole executive representative of the parent on the AESL board.
Appasamy owners look to sell controlling stake
Investment bank Edelweiss Finance has been hired for the sale process. Names of the potential PE investors could not be ascertained yet.
Allied Blenders & Distillers firms up plans to acquire 3 brands in whisky segment
Allied Blenders and Distillers (ABD), the third largest Indian IMFL (Indian-made foreign liquor) company in the country, has firmed up plans to acquire three brands in the semi premium and premium whisky segment as it embarks on an aggressive growth strategy to widen the reach in the fast-growing Indian alcohol market.
ED freezes another Rs 370 crore in crypto probe; EarlySalary eyes $100M funding
The ED says it has frozen assets worth Rs 370 crore of a Bengaluru company that parked its funds with the crypto exchange Flipvolt and used it to launder ‘proceeds of crime’.
The humble astrologer has gone online, and is thriving
The humble astrologer - once to be found mostly in jewellery shops or small chambers - has gone online, and is thriving on virtual astrology platforms. Astrology apps have been booming amid sundry uncertainties since the outbreak of the Covid-19 pandemic, with astrologers at the top end earning Rs 5-9 lakh a month.
Paytm shareholders vote to reappoint Vijay Shekhar Sharma as MD
"Vijay Shekhar Sharma has made several commitments in the past to make Paytm profitable, however these have not played out. We believe the board must consider professionalising the management," IIAS had said in its note to shareholders.
Stock price not in our control, focus is on profits: Paytm CEO Vijay Shekhar Sharma
Speaking at the company’s first annual general meeting as a listed company, held virtually, he also said Paytm was on track to turn operationally profitable by September next year.
Fintechs may sharpen focus on NBFC ops; Paytm CEO Sharma faces dissent
The new rules – which clearly favour entities under the RBI’s control – could force fintech firms to focus on their non-banking financial company (NBFC) units, making a shift for India’s digital lending industry.
Proxy advisory firm IIAS opposes reappointment, remuneration of Paytm CEO Sharma
IIAS said Paytm’s shares had fallen 63% from the issue price of Rs 2,150 per share, resulting in wealth destruction for shareholders. On Thursday, the shares closed 0.2% lower at Rs 825.50 on the BSE, about 62% below the IPO price.
As India Inc shines brighter, CEOs and CXOs dump MNCs for local firms
Extensive capex plans, rise in M&A deals and increased decision-making power are some of the reasons attracting the top talent to Indian companies.
Taliban shows off 'special forces' in propaganda blitz
Pictures and videos of fighters in the so-called "Badri 313" unit have been posted online for propaganda purposes to underline how the Taliban have better equipped and trained men at their disposal than in the past, experts say.
Jeh Wadia quits as Bombay Dyeing MD
In a regulatory filing, Bombay Dyeing said Jeh will not be renewing his contract as MD of the company that expired on March 31. The 47-year-old Jeh, the second son of group chairman Nusli Wadia, took over as the MD of Bombay Dyeing on April 1, 2011.
MTAR Technologies IPO share allotment status: Here's how to check it
The IPO, which attracted a massive 201 times bids last week, has seen its premium surge to Rs 530 apiece in the grey market from Rs 430 a few days ago.
Ex-Blackstone MD who made 1,400% on MTAR IPO says no plan to sell remaining shares
Cyriac said he never thought he would realise 15-times returns within such a short time, and said he had faith in the 50-year-old family run company.
Tata Trusts rejigs governance structure to ensure stricter audits and tighter internal controls
In the new structure, the delegation of power and allocation of grants will be approved by a professional chief executive officer and the trustees and will require full board endorsement, top officials told ET on condition of anonymity.
Ports bill to help develop faster decision-making process: Essar Ports
The bill aims to provide for regulation, operation and planning of major ports in India and to vest the administration, control and management of such ports upon the boards of major port authorities.
Major Port Authorities Bill introduced in Rajya Sabha
The bill aims to provide for regulation, operation and planning of major ports in India and to vest the administration, control and management of such ports upon the boards of major port authorities.
Family-run businesses rush to streamline operations
According to a study on family businesses by Stellar Search, over the next five years, 72% of family-run businesses plan to bring in non-family professionals to help run operations.
FinMin yet to get a proposal from RBI on COO appointment: Sandhu
The comments come after the Reserve Bank on August 14 had issued a statement, proposing to appoint a COO in the rank of a Deputy Governor.
RBI proposes COO post in rank of Deputy Governor
RBI, headed by a Governor & four Deputy Governor now wants to create a post of COO and re-allocate work between the five of them.
Dalmia Cement ropes in executives from rival to strengthen operations
Cement maker Dalmia Cement Bharat has roped in Mahendra Singhi as its managing director in its effort to consolidate cement operations.
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