Mr Suresh Narayanan, the current CMD of Nestle India will retire on July 31, 2025. The Company has informed that Manish Tiwary, the Country Manager of Amazon India will take over from Suresh w.e.f August 1, 2025. Before joining Amazon in 2016, Manish had a 20 year career at Unilever, where he held roles in … Read more
Authum Investment & Infrastructure (AIIL) and Mahi Madhusudan Kela are together acquiring 46.85% stake of Prataap Snacks (PSL) from Sequoia. 42.31% is being acquired by AIIL and 4.54% by Mahi Madhusudan Kela @ Rs 746/ share Mahi will also get classified as part of the promoter group. Sequoia is selling out completely. In line with … Read more
Girding up to fight growth pressures globally, Unilever is doubling down on performance-led pay cheques for its directors across the globe after its shareholders flagged excessive pay amid fears of uncertain business environments and intense competition this year. The Anglo-Dutch consumer giant has implemented a new reward framework across markets including India with metrics more … Read more
The families of Jamshyd N Godrej and Smita V Crishna are setting up a family council following the business realignment in April, said people with knowledge of the matter. In addition to this, the Crishna branch will set up a family office comprising Smita Crishna and her daughters Freyan and Nyrika. Nyrika, who is executive … Read more
Nestle has once again got into an unhealthy food controversy. Everyone would remember the maggi noodle controversy that Nestle was subjected to in 2015. It then took more than a year for Nestle to navigate the troubled waters. Again in 2021, the Company got a scare. This time an internal memo got leaked wherein the … Read more
Nestle India’s board has approved a staggered increase in royalty payout to the company’s Swiss parent Société des Produits Nestlé S.A. (The Company had in 2019 announced that it would seek approval of it’s shareholders every five years for royalty payments to it’s parent company.) Royalty will increase from current 4.5% of net sales to … Read more
British American Tobacco (BAT) has sold a 3.5% stake in ITC. The stake has been sold in a block deal. BAT has realised a total of Rs 17,491 crore from the sale. The transaction has taken place @ Rs 400/ share which is similar to the prevailing market price. Post this stake sale, BAT’s shareholding … Read more
British American Tobacco (BAT) is the largest shareholder in ITC holding 29.03% stake. It has informed that it is looking to reduce it’s stake as part of the Capital reallocation strategy. “We continue to pursue all opportunities to enhance balance sheet flexibility and, as part of this, we regularly review our stake in ITC. We … Read more