Corporate Trends
TPG Capital acquires 60% stake in digital services firm Altimetrik
With a focus on brand visibility and global expansion, Altimetrik, led by Raj Sundaresan and supported by Adam Caplan, aims to leverage the partnership with TPG Capital to strengthen its position in the digital business landscape and drive revenue growth through innovative solutions.
Tata Group retains No 1 position in Brand Finance India Report 2024
Infosys has also exhibited a strong growth with a 9 per cent growth. The report has put its brand value to USD 14.2 billion despite a slowdown in the global IT Services sector. While HDFC Group has jumped to third sport with a valuation of USD 10.4 billion, following its merger with HDFC Ltd.
L&T hit by 'severe' skilled manpower shortage: 45,000 engineers & techies needed
Larsen & Toubro (L&T) faces a severe shortage of skilled labor, with a deficit of 25,000 workers in engineering and construction, and 20,000 in IT and IT services, per its Chairman S N Subrahmanyan. This shortfall, due to various factors including high attrition and migration, is affecting project execution.
Tata Group is India’s most valuable brand: Report
Tata Group has maintained its position as India’s most valuable brand with a brand value of $28.6 billion, according to the latest Brand Finance India 100 2024 report. The group's Taj hotel brand also secured the top spot as India’s strongest brand. Infosys follows as the second-most valuable brand with a brand value of $14.2 billion, showing a steady 9% growth. HDFC Group surged to the third spot with a brand value of $10.4 billion following its merger with HDFC Ltd.
LTI Mindtree has strong leadership, no succession plan for now: AM Naik
LTI Mindtree, an IT services company, is not focusing on succession planning as its current CEO, Debashis Chatterjee, will continue until December 2025. Larsen & Toubro (L&T) Group chairman AM Naik, who is also the non-executive chairman of LTIMindtree and L&T Technology Services, stated that the company has all its people, including a CEO, president of sales, and COO.
Nikesh Arora: Meet the Indian-origin CEO earning more than Google’s Sundar Pichai, Microsoft’s Satya Nadella
The report from data analytics firm C-Suite Comp featured two lists based on different metrics: "total compensation granted" in 2023 and "compensation actually paid." Sundar Pichai of Google and Satya Nadella of Microsoft, despite their prominent positions and successful years, did not appear on either list. Nikesh Arora is the only Indian-American to make it to the list of the top 10 highest-paid CEOs in the United States. Here's all you need to know about the Indian-origin CEO .
Tata Sons hits pause on fresh funds till e-commerce, electronics businesses shape up
"There is a strategic reason for not making any equity infusion even as organisational changes are being made," said one of the persons. "However, new fund infusion will commence after the strategy and organisational changes for better operational efficiencies are in place." Registrar of Companies (RoC) filings obtained through business intelligence platform Tofler show group holding company Tata Sons didn't invest in Tata Digital in FY24.
Essel Group company Shirpur Gold admitted for insolvency
To secure a ₹65-crore loan, SGRL had given an undertaking to Industrial Finance Corporation of India (IFCI) that it would maintain its own excess shares besides those of Zee Media, Zee Entertainment (both promoted by Essel Group) and Dish TV India (which is under Chandra's younger brother) to the extent of ₹32.50 crore. The outstanding dues include a principal amount of ₹65 crore along with accumulated interest of ₹27 crore up to October 14, 2021.
India Inc's CSR spends on sports likely to surge in next few years
The foundations of several companies, such as the Reliance, Tata Steel, JSW, Hindustan Zinc and SKF India, have been supporting sports as part of their corporate social responsibility (CSR) commitments. However, the data on whether there has been an increase in the CSR spend on sports and by which companies is not available. This is due to an MCA notification in September 2022 that no longer requires companies to disclose details of their CSR spends but only the total spends towards CSR.
Adani CFO says Sebi notices procedural
The conglomerate faces Sebi notices, financial scrutiny, and market challenges but remains compliant and poised for a strategic rebound from recent setbacks.
Must Watch
Goa govt unveils scheme to allow sick industrial units to exit from state
Goa CM Pramod Sawant launched the Goa Industrial Development Corporation Exit Support Scheme to assist sick industrial units in leaving the state. The scheme targets 423 plots across 12,75,000 sq m of unused area, aiming to free up land for new investments, job creation, and industrial development.
Adani Group to increase capex in FY25 to Rs 1.3 lakh crore from Rs 70,000 cr
Adani Group plans to increase FY2025 capital expenditure to Rs 1.3 lakh crore ($15.6 billion) from Rs 70,000 crore. Adani Green Energy will allocate 340 billion rupees to add 6 gigawatts of capacity. The conglomerate aims to leverage India's infrastructure growth, dismissing rumors of a stake in Paytm but open to fintech opportunities.
Reliance Capital lenders set out conditions to grant extension to Hindujas
Lenders of Reliance Capital, promoted by Anil Ambani, have submitted an affidavit to the bankruptcy court stating conditions for granting a 90-day extension to the winning bidder, a Hinduja Group entity. The extension would require depositing Rs 2,750 crore into a lender's escrow account and paying 12% interest on the Rs 9,660-crore offer. The National Company Law Tribunal is scheduled to consider Hinduja Group's plea for the extension on Tuesday. Earlier, NCLT had instructed Hinduja Group's IndusInd International Holdings (IIHL) to execute the plan by May 27th.
Set to capitalise on opportunities in infra space, says Gautam Adani
The core infrastructure group which has businesses ranging across ports, green energy, cement, airports, power and transmission will be setting up the largest energy installation, redeveloping the largest slum and making the largest single location copper smelter of the world in the country over the next few years.
JPMorgan India bank CEO Singh quits before end of term
Prabdev Singh, CEO of JPMorgan Chase Bank in India, has stepped down prematurely from his three-year term. Pranav Chawda, currently heading commercial banking, will expand his role to lead India Corporate Banking. Singh, known as PD, joined JPMorgan in 2010 after a decade at HSBC. JPMorgan has operated in India since 1922, with four branches nationwide.
Adani at AGM: Well positioned to continue programmes with Modi govt now in third term
With the Modi-led National Democratic Alliance securing a third term, Gautam Adani, at Adani Enterprises' AGM, highlighted the group’s continued role in India’s growth. Adani addressed challenges from the Hindenburg controversy, emphasizing financial resilience and ambitious projects, including Mumbai’s Dharavi redevelopment. He projected India becoming the world's third-largest economy by decade's end.
