Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, has received a significant number of bookings for its newly launched flagship motorcycle, the Karizma XMR. The company has already started dispatching the Karizma XMR bikes to its dealerships, and customer deliveries will begin in the festive period this month. The new motorcycle is priced at Rs 1,79,900 (ex-showroom Delhi), and the company will announce a new booking window soon.
Larsen & Toubro has promoted E P Sajit as the Senior Vice President and the Head of Water & Effluent Treatment IC, effective from October 2.
Punjab National Bank has announced a 11.3 percent year-on-year growth in total business for the quarter ended September FY24. Deposits have risen by 9.7 percent YoY to Rs 13.08 lakh crore, while global gross advances have increased by 13.8 percent YoY to Rs 9.4 lakh crore. CASA deposits grew by 2.6 percent YoY to Rs 5.4 lakh crore, and domestic advances increased by 13.9 percent YoY to Rs 9.08 lakh crore.
JM Financial’s Chief Financial Officer, Manish Sheth, has stepped down from the company as of September 30, 2023.
Jammu & Kashmir Bank has reported a 12.03 percent growth in total business for the quarter ended September FY24. Total deposits have risen by 9.4 percent YoY to Rs 1,26,589 crore, and gross advances have increased by 15.88 percent YoY to Rs 91,680 crore. CASA deposits rose by 1.24 percent YoY to Rs 64,068 crore.
Marico, a leading FMCG company, has witnessed low single-digit volume growth in its domestic business, particularly in Parachute Coconut Oil and Saffola Edible Oils. On the international front, the company has delivered double-digit constant currency growth. Consolidated revenue has been marginally lower YoY due to pricing corrections in key domestic portfolios over the last year. However, Marico expects robust gross margin expansion and healthy operating profit margin expansion leading to low double-digit operating profit growth.
Bandhan Bank has reported a 4.3 percent QoQ and 12.3 percent YoY growth in loans and advances for the quarter ended September FY24. Total deposits have grown by 3.3 percent QoQ and 12.8 percent YoY to Rs 1.12 lakh crore. CASA deposits have increased by 10.5 percent QoQ and 6.5 percent YoY to Rs 43,161 crore, while retail deposits have risen by 7.4 percent QoQ and 12.6 percent YoY to Rs 82,977 crore.
Asian Energy Services has appointed Gaurav Srivastava as the Chief Operating Officer. Srivastava brings with him two decades of experience in operations, field services, drilling, and business development, having worked at Schlumberger in India, the USA, Australia, Malaysia, and Sudan.
HealthCare Global Enterprises has announced the strategic acquisition of SRJ CBCC Cancer hospital in Indore. The company plans to expand by adding 100 beds and a state-of-the-art cancer diagnostic and treatment facility within an estimated operational timeline of 2 years. With this acquisition, HealthCare Global Enterprises now operates a network of 21 comprehensive cancer centers with 24 hospitals across India and Africa, along with 8 Daycare centers.
Sofcom Systems has witnessed the resignation of Satyam Jaiswal as the Managing Director and Shristi Shaw as the Chief Financial Officer, effective from October 4, 2023. Both individuals cited preoccupation with other business activities as the reason for their immediate resignation.
Nazara Technologies’ Singapore subsidiary, NODWIN Gaming, has acquired a 100 percent stake in the game marketing agency, PublishME, for $2 million. The acquisition was made from the existing shareholders of Nazara Technologies and Ozgur Ozalp.
AXISCADES Technologies has received board approval for the appointment of Abidali Neemuchwala as the Chairman of the company, effective from October 4. Abidali, who was previously the CEO and Managing Director of Wipro, brings extensive experience in the IT industry, having started his career with Tata Consulting Services in 1992.
Definitions:
1. CASA deposits: Current Account and Savings Account deposits
2. FMCG: Fast-Moving Consumer Goods
Sources:
1. Source: NA.