MANAGING DIRECTOR AND CEO
LTIMindtree creates new global AI services role for COO Nachiket Deshpande in new organisational structure
Nachiket Deshpande, also a whole-time director at LTIMindtree, will assume the role of president for global AI services, strategic deals, and partnerships at LTIMindtree, with immediate effect.
Renewables company Jakson Green lines up $1 billion for expansion
Jakson Green plans to invest up to $1 billion in its renewable energy portfolio over the next four years. The company aims to build a 5 gigawatt portfolio across solar, wind, batteries, and FDRE spaces, starting from FY27. Jakson Group, which also manufactures diesel generators, has diversified into renewable energy, including solar modules and battery storage.
Wipro realigns its global business lines to serve clients outcome-driven solutions
Wipro will continue to operate with four GBLs, with only minor changes in leadership. It has merged Wipro Enterprise Futuring and Wipro FullStride Cloud under Technology Services, which will be led by Nagendra Bandaru, who was previously the global head of Wipro Enterprise Futuring.
Yes Bank goes live with GST payment facility
Yes Bank has launched a GST payment facility, enhancing its digital banking services. The facility allows businesses to meet tax obligations quickly and securely via the bank's internet banking platforms or branch network. Taxpayers can generate GST challans on the GST portal and complete payments through Yes Bank’s NetBanking or over-the-counter options, receiving real-time confirmations.
Datta Power Infra, SJVN sign PPA to set up 70 MW wind project
Datta Power Infra has signed a power purchase agreement with SJVN to develop a 70 MW wind energy project under the WIND-1 initiative. This is part of SJVN's plan to create 600 MW of ISTS-connected wind power projects across India, enhancing the renewable energy infrastructure.
Rangsons Aerospace raises Rs 300 crore from ValueQuest Investment Advisors
Rangsons Aerospace intends to use the new funding to boost its operational capacity and explore growth opportunities in new business sectors through targeted acquisitions. Based in Mysuru, the company provides satellite communication systems, airborne thermal management solutions, and fluid distribution systems to global aerospace companies.
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Nazara Technologies COO Sudhir Kamath resigns
An IIM Ahmedabad alumnus, Kamath joined Nazara during a leadership transition at the company. In October 2022, then-CEO Manish Agarwal had resigned, and Mittersain had taken over the role.
AI to fuel bumper year for M&A in US power sector
Record power demand and dizzying projections for electricity consumption for AI have made power generation and infrastructure assets, and companies which own them, attractive to energy companies, private equity and other institutional investors.
Mitsubishi Chemical plans to join supply chain link in semiconductor, EV sectors in India
Mitsubishi Chemical Group plans to enter India's semiconductor and electric vehicle supply chains. CEO Manabu Chikumoto mentioned the need for support from the Indian government for the project. The group's new management strategy focuses on carbon-neutral and green technologies. Mitsubishi Chemical has historic ties with India through MCPI, which expanded with local assistance.
Crypto exchange Binance gets $2 billion investment from Abu Dhabi's MGX
Binance and MGX said in statements posted on their website that the investment was made in stablecoin - a type of cryptocurrency pegged to a fiat currency such as the dollar.
ET MSME Awards 2024: And the nominees are…
After months of deliberations spanning multiple rounds of evaluation, vetting, and jury discussions, India’s largest, most credible MSME awards announces its shortlist. The winners for the ET MSME Awards 2024 will be revealed at a grand felicitation ceremony on March 20, 2025 in New Delhi.
MRF Vice Chairman & MD Arun Mammen takes over as Automotive Tyre Manufacturers' Association Chairman
Arun Mammen, Vice Chairman and Managing Director of MRF Ltd, has been elected as Chairman of the Automotive Tyre Manufacturers' Association, succeeding Arnab Banerjee of CEAT Ltd. Hiroshi Yoshizane of Bridgestone India is the new Vice Chairman. Mammen aims to position the Indian tyre industry as a major global supplier during the decade.
MDI Gurgaon unveils new curriculum focused on AI, neuroscience, and sustainability for 2025-26
MDI Gurgaon is updating its curriculum to include AI, neuroscience, and sustainability to meet the evolving business demands. New course offerings and centers for financial services, energy, and sustainability are being introduced. A neuroscience lab and a center for AI application in business have already been established.
Jackpot for 650 employees! Mutual fund distributor plans Rs 34 crore stock surprise
Prudent Corporate's chairman, Sanjay Shah, secured regulatory approval to gift Rs 34 crore worth of shares to 650 employees and personal staff, including household help, marking the company’s 25th anniversary. Sebi granted an exemption, ensuring no governance disruptions.
India Inc on the Move 2025: Advancing AI-driven smart and sustainable manufacturing
India Inc On The Move (IIOTM), the flagship corporate event of Rockwell Automation India, was successfully held on February 19, 2025, at Andaz Delhi, Aerocity. Industry leaders, technology visionaries, and innovators gathered to explore the transformative potential of artificial intelligence (AI) and other advanced technologies in accelerating smart and sustainable manufacturing.
Prudent's Shah gets Sebi nod to gift shares to staff
Sanjay Shah wanted to distribute among 650 employees about ₹33 crore worth of shares of Prudent Corporate Advisory Services, India's fifth-largest mutual fund distributor. The intended recipients included staff members engaged at his home.
Music artists gaining ground in brand endorsements, challenging film stars and cricketers
Music artists are emerging as significant players in brand endorsements, historically dominated by film stars and cricketers. Leading artists like AR Rahman, Diljit Dosanjh, and Badshah are securing lucrative deals, reflecting the growing appeal of musicians among brands targeting younger audiences.
IndusInd Bank to see profit in Q4 even after derivatives losses: MD & CEO Sumant Kathpalia
IndusInd Bank CEO Sumant Kathpalia assured profitability in Q4FY25 despite derivative losses. He confirmed the bank's Capital Adequacy Ratio will stay above 15% and stated losses will be absorbed through P&L. The stock fell 26% following accounting discrepancies.
Coinbase registers with FIU to offer crypto trading services in India
Coinbase announced it plans to launch its retail services later this year and introduce more investments and products after that, though it hasn't given a specific timeline. Coinbase is entering India at a time when interest in crypto is growing, with many young Indians getting involved in cryptocurrency and joining trading academies to boost their regular income.
NFO Update: Edelweiss Mutual Fund launches low duration fund
Edelweiss launched a Low Duration Fund, investing in debt and money market instruments with 6-12 months Macaulay duration. The NFO closes on March 18. Managed by Pranavi Kulkarni and Rahul Dedhia.
Bengaluru Airport becomes India's first to introduce sensory room for neurodivergent passengers
Kempegowda International Airport in Bengaluru has introduced India's first sensory room for neurodivergent passengers. Located at Terminal 2, the room aims to alleviate stress for individuals with sensory or mental health conditions. Developed in collaboration with Incluzza, the sensory room features ambient lighting and calming environments. This initiative marks a significant step towards inclusive air travel.
Understanding Hitachi Energy’s investment outlook in India: A conversation with N Venu, Managing Director & CEO, India and South Asia, Hitachi Energy
Hitachi Energy is significantly investing INR 2,000 crore in India's energy transition by enhancing capacity and integrating digital solutions. The company is focused on supporting grid modernization, renewable energy, and advancing sustainable electrification, aligned with India’s growing energy needs and goals.
RBI's one-year extension for IndusInd Bank CEO raises concerns over governance: Analysts
Concerns have arisen over the RBI's decision to extend IndusInd Bank CEO Sumant Kathpalia's tenure by just one year. This move raises governance and asset quality worries, potentially negatively impacting the bank's stock. Analysts note uncertainty and possible outcomes, including Kathpalia's early retirement or the appointment of a public sector CEO.
Greenfield construction costs marginally rise by 2-4% in CY 2024
In 2024, greenfield construction costs increased by 2-4% compared to 2023, a moderation from previous years. Key materials like cement and steel saw price declines, while labor costs rose by 5%. Mumbai experienced the highest fit-out cost increase. The sector faces challenges due to labor shortages but continues to attract strong investments and focus on sustainability.
New-age companies gear up to strengthen top deck
Startups and new-age companies are bolstering their boards with high-profile independent directors to prepare for IPOs in the next one to two years. This surge is driven by regulatory pressures, evolving corporate governance standards, and the proactive involvement of private equity investors.
Cognizant's activist investor Mantle Ridge builds over a $1 billion stake
Mantle Ridge, led by American founder and CEO Paul Hilal, began purchasing Cognizant shares in the second half of 2022 when the stock was priced between $50 and $60 per share. The activist firm, which believes the shares are undervalued, has been in private talks with Cognizant about improving the share price.
RBI allows IndusInd CEO one year extension instead of usual three
The Reserve Bank of India has approved a one-year extension for Sumant Kathpalia as CEO of IndusInd Bank, extending his term until March 23, 2026. Kathpalia, who has over 37 years of experience in the banking sector, has overseen significant growth despite challenges in the microfinance portfolio.
At NSE-listed companies, women hold 21% of board seats at NSE-listed firms: Report
Nearly 97% of NSE-listed companies have appointed at least one woman director by March 2025, highlighting the impact of regulatory requirements to improve gender diversity. However, the pace of further improvements has slowed, with only modest growth in numbers of women in executive roles or as MD/CEO.
Nissan board to meet on March 11, discuss potential CEO successors, sources say
Nissan directors will hold a meeting on March 11 to discuss potential successors for CEO Makoto Uchida, whose position is under scrutiny due to the automaker's weak performance. Candidates include CFO Jeremie Papin and Chief Planning Officer Ivan Espinosa, although neither is a certainty.
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