Representative image A top India-centric American business advocacy group, in collaboration with various US government agencies and a prestigious university, has announced an alliance to increase the number of women in STEM education and the workforce in India. The launch of the US-India Alliance for Women's Economic Empowerment STEM Collaborative was announced by Mukesh Aghi, president and CEO of the US-India Strategic and Partnership Forum during the US-India Alliance Shatter Summit. "India and the US tech synergy is well evinced in India being an IT powerhouse and the US having the most robust tech economy. However, there is still a lacuna in the number of male and female STEM graduates," Aghi said. "For India to unleash its full potential, there needs to be a concerted effort to get more young girls and women in STEM (science, technology, engineering and maths)," he said. The US-India Alliance for Women's Economic Empowerment is a public-private partnership between … [Read more...] about Alliance launched to increase number of women in STEM education, workforce in India
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RPower loss widens to Rs 291 crore in Q3
Representative Image Reliance Power on Saturday said its consolidated net loss widened to Rs 291.54 crore in the December 2022 quarter. The company's consolidated net loss was Rs 97.22 crore in the quarter ended December 2021, a BSE filing showed. The total expenses rose to Rs 2,126.33 crore in the quarter from Rs 1,900.05 crore in the year-ago period. Its total income stood at Rs 1,936.29 crore in the quarter against 1,858.93 crore a year ago. The company made a debt repayment of Rs 178 crore in the quarter, and its debt-equity ratio stood at 2.03:1. Read More It reported a net worth of Rs 11,219 crore. It has an operating portfolio of 5,945 MW. The Board of Directors, at its meeting held on Saturday, has appointed Ashok Kumar Pal as the Chief Financial Officer (CFO) of the company from January 29, 2023. Pal is a qualified Chartered Accountant with extensive hands-on experience of over 22 years. He has an established record of success in finance, … [Read more...] about RPower loss widens to Rs 291 crore in Q3
Nykaa appoints P Ganesh as CFO effective February 3
Nykaa stated that currently, P Ganesh is CFO at TAFE Group.(Representative image) Nykaa, which is operated by its listed parent company FSN E-Commerce Ventures , on January 23 said that it has appointed P Ganesh as the company's chief financial officer (CFO) with effect from February 3, 2023. Currently, he is CFO at TAFE Group. Prior to TAFE, he has held leadership roles in India and overseas with the Godrej Group, Glenmark Pharma and Pidilite. As per the company's regulatory filing, P Ganesh is a Chartered Accountant, Cost and Management Accountant and Company Secretary and has over 27 years of "rich industry experience in domestic and international markets." Commenting on the appointment, Falguni Nayar, Founder and CEO, Nykaa, said, “We are pleased to welcome Ganesh to our leadership team and be part of Nykaa’s growth story that will benefit from his rich financial experience. His knowledge about the Indian financial market and insights into International markets will … [Read more...] about Nykaa appoints P Ganesh as CFO effective February 3
Westlife Foodworld appoints Saurabh Bhudolia as CFO; stock gains
Westlife Development (Image: westlife.co.in) Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Shares of Westlife Foodworld gained over 4% on January 24 intraday after the company announced the appointment of Saurabh Bhudolia as its chief financial officer (CFO) . Saurabh is a chartered accountant (CA) with experience of over 15 years across manufacturing in India, New Zealand, and Singapore (steel, FMCG, beverage, and retail), the company said in a statement to the stock exchanges. Over the years, his areas of expertise have included accounting, budgeting, costing, treasury, taxation, project finance, financial reporting, business partnering, mergers and acquisitions, industrial relations, and funding. To ensure the company's financial success, Saurabh will oversee all aspects of financial management and strategy. His new … [Read more...] about Westlife Foodworld appoints Saurabh Bhudolia as CFO; stock gains
Tata Chemicals Europe inks pact with Vertex for low carbon hydrogen supply
TCE is one of Europe’s leading producers of sodium carbonate, salt and sodium bicarbonate (Representative image) Tata Chemicals Europe (TCE) and Vertex Hydrogen have signed an offtake agreement for the supply of over 200 megawatts of low carbon hydrogen, according to a press release on January 26. Under the new pact, Vertex will supply TCE with hydrogen as the chemicals manufacturer continues to decarbonise its operations in the UK with a target of achieving “net zero” manufacturing by 2030. “We have been supporters of Vertex and the low carbon hydrogen segment as a real opportunity to further reduce emissions at our world class CHP facility," TCE Managing Director Martin Ashcroft said. Also Read | Essar Oil UK inks offtake deal with Vertex Hydrogen Vertex Chief Executive Officer Joe Seifert said the company is "thrilled to sign these heads of terms with Tata Chemicals Europe, as an industry leader driving tangible change to reduce emissions". Read More … [Read more...] about Tata Chemicals Europe inks pact with Vertex for low carbon hydrogen supply
DLF plans to launch in February Rs 7500 crore worth premium housing project in Gurugram
DLF Realty major DLF Ltd plans to launch a luxury housing project in Gurugram next month with an estimated sales revenue of around Rs 7,500 crore as it seeks to tap strong demand for high-end apartments. The company plans to develop around 1,100 apartments in this residential project, DLF Group Executive Director and Chief Business Officer Aakash Ohri told PTI. "We are planning to launch next month a premium residential project in Sector 63 Gurugram. The estimated sales realisation of this project will be around Rs 7,500 crore," he said. "Demand for real estate across various price points is very strong, especially for products offered by trusted developers," Ohri said. DLF, the country's largest real estate firm in terms of market capitalisation, achieved a 45 per cent growth in sales bookings to Rs 6,599 crore in April-December period of this fiscal and is on track to achieve its annual sales guidance of Rs 8,000 crore. Read More DLF's sales bookings … [Read more...] about DLF plans to launch in February Rs 7500 crore worth premium housing project in Gurugram
UltraTech expects 95-100 percent capacity utilization in fourth quarter
UltraTech Cement | CMP: Rs 6,860 | The stock tumbled over 4 percent after the company reported a consolidated net profit of Rs 1,062.58 crore for the December quarter, down 37.86 percent from the year-ago period. UltraTech Cement's revenue from operations, however, rose 19.53 percent to Rs 15,520.93 crore from Rs 12,984.93 crore in the corresponding quarter of the last year, the Aditya Birla Group company said on January 21. While the profit missed estimates, revenue was higher than expected. According to a brokerage poll conducted by Moneycontrol, net profit was seen at Rs 1,105.2 crore and consolidated revenue at Rs 15,191.5 crore. Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Capacity utilization at India’s largest cement maker, UltraTech Cement , could touch 95 percent to 100 percent in the March quarter, company executives … [Read more...] about UltraTech expects 95-100 percent capacity utilization in fourth quarter
Air India urination case: Court adjourns Shankar Mishra’s bail plea to January 30
Shankar Mishra, the accused in the Air India peegate case. A Delhi court on Friday adjourned Shankar Mishra's petition seeking bail to January 30. Mishra, who is accused of urinating on a woman co-passenger onboard a flight in November last year had filed a fresh bail application seeking regular bail. The court adjourned the matter after noting the investigating officer was not present. Further, the complainant's counsel was not provided a copy of the bail plea, it noted. The incident took place onboard the Air India flight from New York to Delhi on November 26, 2022. Read More Mishra was allegedly in an inebriated condition. … [Read more...] about Air India urination case: Court adjourns Shankar Mishra’s bail plea to January 30
Sonata Software appoints Samir Dhir as MD and CEO
Representative Image Global IT services and solutions firm Sonata Software on January 24 said that it has changed the designation of Samir Dhir from the company's whole-time director and chief executive officer (CEO) to managing director (MD) and CEO with effect from February 14, 2023. "As a part of Sonata Software Board's succession plan, Mr. Samir Dhir was appointed as the Whole-time Director & CEO of the Company w.e.f. May 9, 2022. His appointment as Managing Director is part of the above plan." Dhir, who was appointed as the company's CEO in 2022, has more than 25 years of leadership and Industry experience. In his last role before joining Sonata Software, he served as CEO of Global Markets and Industries at Virtusa, where he managed the company's revenues of over $1.6 billion, as per the regulatory filing. Additionally, the IT services company also elevated Srikar Reddy as the Executive Vice-Chiarman effective February 14 as his current term as Managing … [Read more...] about Sonata Software appoints Samir Dhir as MD and CEO
Mercedes-Benz India has done a great job in promoting mutual fund SIPs: A. Balasubramanian
Aditya Birla Sun Life AMC MD & CEO A Balasubramanian A. Balasubramanian, the managing director and chief executive officer of Aditya Birla Sun Life Mutual Fund, weighed in on remarks by a Mercedes-Benz India executive’s comments on Systematic Investment Plans (SIPs). Santosh Iyer, the current Mercedes-Benz India chief executive officer Santosh Iyer, had said in published remarks before taking the helm that SIPs posed competition to the luxury car maker. “In fact, he has made people realize two things. One, you can buy a Mercedes car by investing in an SIP, and in a way, he has promoted SIP as a concept,” Balasubramanian said. Edited excerpts: Your alternative career choice, if not the CEO of an AMC like this? Don’t tell me it’s that of a stock picker or for that matter a portfolio manager, which you have already been, but something else. Read More I can get into agriculture, farming. An inspirational quote that you keep in mind while managing … [Read more...] about Mercedes-Benz India has done a great job in promoting mutual fund SIPs: A. Balasubramanian