P&amp;G's India growth continues to look up for second straight quarter

Leading FMCG maker Procter & Gamble is very "optimistic" in the mid and long-term prospects of India, where it will invest Rs 2,000 crore to set up an export hub, on the back of robust growth, according to company's country CEO LV Vaidyanathan.
Procter & Gamble (P&G) India will continue to grow categories that are currently undeveloped and bring product propositions that are meaningful to the quality-conscious Indian consumer, he said.
In the last three years, P&G has driven consistent double-digit growth in both the topline and bottomline.
"Business has basically moved from the last couple of years seeing high single growth. Now we are starting to see very nice growth and hope to see some kind of momentum going and accelerate from where we are," Vaidyanathan told PTI.
The maker of popular brands such as Ariel, Gillette, Head & Shoulders, Oral-B, Pampers, Pantene, Tide, Vicks and Whisper - follows July to June financial year.
"Year is coming to an end and business .

Procter & Gamble

The outlook and quarterly results outpaced expectations in key metrics, highlighting that the US economic slowdown appears to be relatively contained

Sanjeev Sanyal

Former P&G CEO Das, who proposed the idea, said this individual should be a leader who would coordinate among different entities to raise competitiveness of the economy

Madhusudhan Gopalan

The company delivered profitable double-digit growth

Procter & Gamble names L V Vaidyanathan as CEO for India operations

Global FMCG firm Procter & Gamble on Tuesday announced the appointment of L V Vaidyanathan as the Chief Executive Officer for its operations in India from July 1, 2022.
Vaidyanathan will take over from Madhusudan Gopalan, who will be taking up a leadership role within P&G as Senior Vice President  Grooming & Oral Care, P&G Japan and Korea, the company said in a statement.
Currently he is leading P&G business in Indonesia as CEO where he has been "responsible for industry-leading growth and value creation for the company", it added.
"Under his leadership, the Indonesian business has transformed to become value accretive for the parent company and has overtaken a formidable competitor in the market by turning around the share gap in the last four years," P&G said.
An alumnus of IIM Ahmedabad, Vaidyanathan had joined P&G in 1995 as an intern and joined the India sales team straight from campus in 1996. He has experience of over 26 years across diverse ...

FMCG firm Procter & Gamble Hygiene and Health Care Ltd on Wednesday reported an 84.37 per cent increase in its net profit to Rs 250.62 crore for the second quarter ended December 2020.
The company, which follows July-June financial year, had posted a net profit of Rs 135.93 crore in the corresponding quarter previous fiscal, Procter & Gamble said in a regulatory filing.
Its revenue from operations surged 18.52 per cent to Rs 1,018.44 crore during the period under review as against Rs 859.27 crore in the October-December period last fiscal.
"Both the feminine care and healthcare business delivered strong double-digit growth in the quarter and grew ahead of category," the company said in an earnings statement.
The company has delivered double-digit profit growth for the second consecutive quarter this year, its Managing Director Madhusudan Gopalan said.
"The growth was driven by the strength of our trusted product portfolio, strong retail execution and strong market recovery in .

The pharmaceutical company reported 11 per cent YoY decline in sales at Rs 200 crore

The board recommended a final dividend of Rs 230 per equity share (including a one-time special dividend of Rs 188 per equity share) for the financial year ended June 30, 2020.

Margin-led growth likely from FY19 for P&amp;G Hygiene Healthcare

Stock trading at over 50x FY20 earnings estimates; this limits the upside for investors

The multinational is focusing more on key markets like the US and China, with India contributing only 2% to its revenues

P&amp;G

The stock was up 3% at Rs 6,825 after the company posted a 50% YoY jump in profit at Rs 103.72 crore in Q1

Meanwhile, companies like HP and Acer, which do not sell mobile phones in India, are likely to miss out

Apple iPhone

The restructuring exercise will be undertaken by Arjun Mohan, who was recently elevated as chief executive officer (CEO) of its India business, replacing Mrinal Mohit, according to the sources

Byju's

To borrow Rs 6.55 trillion in second half

money, cash, rupees

Senco Gold hit a new high of Rs 590.55, rallied 11% on the BSE in Wednesday's intra-day trade and now quotes at a hefty 86% premium over its issue price in little more than 2 months.

Jewellery, Art Work

Closing Bell on September 27, 2023: Among sectors, most of the key indices settled in the positive zone with the Nifty Pharma index gaining the most, up 1.2 per cent

BSE, NSE, Sensex, Nifty, stock markets

Fractional ownership of real estate is gradually gaining acceptance among investors as assets under management have touched Rs 4,000 crore, according to a report.
TruBoard Partners, a tech-enabled real asset management company, has come out with a report on fractional ownership.
Many private companies have set up fractional ownership platforms that allow investors to own a fraction of real estate assets.
"Fractional ownership typically involves the ownership of an underlying real estate asset among multiple investors. This lowers capital requirements and facilitates participation of a larger set of players in real estate asset ownership," the report said.
Investors infuse their fund in securities issued by a Special Purpose Vehicle (SPV), established by the fractional ownership platform.
These platforms provide a formal channel that enables a group of people to pool in money and jointly own real estate.
"Although the concept of fractional ownership of real estate is at a nascent 

Real Estate, Realty sector, Construction, Realty

The proceeds of the issue will be primarily used to meet the needs of the growing business of the bank, including long-term capital requirements

Karnataka Bank

Hitting out at the Modi government, former Union law minister Kapil Sibal on Sunday said the earliest the women's reservation can come into effect is 2034 Lok Sabha elections, alleging it was brought with an eye on the upcoming state and Lok Sabha polls.
The Rajya Sabha MP made the remarks in his new 'Dil Se' initiative under which he will engage fortnightly in a conversation with a journalist on important issues.
In the first episode he posted on social media, Sibal took questions on the women's reservation bill, the row over BJP MP Ramesh Bidhuri's derogatory remarks against BSP MP Danish Ali, and his views on the new Parliament building.
Asked about Bidhuri's remarks, Sibal said the BJP MP must be "expelled" from parliament.
"I have not seen this in my 30-year-long career in parliament. Never seen such foul language, such venom and I was even surprised and shocked by the person presiding, who said I would look at the record and then delete it. I just don't understand this," Siba

Senior Congress leader Kapil Sibal addresses a press conference on 100 days of NDA Government at AICC HQ, in New Delhi. Photo: PTI

Rajasthan's Bharatpur and Uttar Pradesh's Mathura have replaced Jharkhand's Jamtara and Haryana's Nuh as the infamous hotspots of cybercrime in India, according to a new study by an IIT Kanpur-incubated start-up.
The study also revealed that just the top 10 districts collectively contribute to 80 per cent of cybercrimes in the country.
The findings have been mentioned by the Future Crime Research Foundation (FCRF), a non-profit start-up incubated at the Indian Institute of Technology (IIT)-Kanpur, in its latest comprehensive white paper named 'A Deep Dive into Cybercrime Trends Impacting India'.
Bharatpur (18 per cent), Mathura (12 per cent), Nuh (11 per cent), Deoghar (10 per cent), Jamtara (9.6 per cent), Gurugram (8.1 per cent), Alwar (5.1 per cent), Bokaro (2.4 per cent), Karma Tand (2.4 per cent) and Giridih (2.3 per cent) are the top contributors to cybercrime cases in India, collectively accounting for 80 per cent of reported incidence, the FCRF claimed.
"Our analysis focuse

Cyberattacks in India have tripled in the last three years.

Amid the funding winter and macroeconomic uncertainty, this funding will result in bolstering the balance sheet of the company and supporting its IPO plans, according to the sources

funds

The Nijjar murder is fast unfolding into treacherous scenarios that could have tragic consequences for both nations. No one stands to gain from the ongoing face-off

India Canada

International credit agency Moody's Investors Service has made sweeping assertions against Aadhaar without citing any evidence, the Unique Identification Authority of India (UIDAI) said on Monday.
The UIDAI issued a strong rebuttal to Moody's Investors Service which claimed that the Aadhaar system often results in service denials and the reliability of biometric technologies, especially for manual labourers, in hot and humid climates is questionable.
"A certain investor service has, without citing any evidence or basis, made sweeping assertions against Aadhaar, the most trusted digital ID in the world. Over the last decade, over a billion Indians have expressed their trust in Aadhaar by using it to authenticate themselves over 100 billion times," the UIDAI said in a statement.
The unique id Aadhaar's custodian said that the report in question does not cite either primary or secondary data or research in support of the opinions presented in it.
"The investor service did not make any

Adhaar, UIDAI

Canada has updated travel advisory for its citizens in India asking them to "stay vigilant and exercise caution" in the context of recent developments as there are calls for protests and some "negative sentiment" towards Canada on social media.
Tensions flared between India and Canada following Canadian Prime Minister Justin Trudeau's explosive allegations of a "potential" involvement of Indian agents in the killing of Khalistani extremist Hardeep Singh Nijjar, 45, on his country's soil on June 18 in British Columbia. India had designated Nijjar as a terrorist in 2020.
India angrily rejected the allegations as "absurd" and "motivated" and expelled a senior Canadian diplomat in a tit-for-tat move to Ottawa's expulsion of an Indian official over the case.
"In the context of recent developments in Canada and in India, there are calls for protests and some negative sentiment towards Canada on social media. Please remain vigilant and exercise caution," the Canadian government said in an

The leaders of both countries should encourage bilateral trade and people-to-people exchanges that can help build bridges

India's rage is misplaced and hardly serves to endear the country to those appalled by the idea that it may have had a Canadian citizen killed

Fintech firm Bright Money on Wednesday said it has raised USD 62 million (about Rs 515 crore) round of funding from a clutch of investors.
It has about 95 per cent of employees in India.
The funding includes USD 50 million in debt from Encina Lender Finance and USD 12 million in equity led by Alpha Wave, Hummingbird, and PeakXV, Bright Money said in a statement on Wednesday.
Encina Lender Finance provides lending solutions to consumer and commercial speciality finance companies across the US and Canada.
"The funding will be deployed towards building robust teams across product development, technology, analytics, and support functions like compliance and customer service," Bright Money co-founder and Co-CEO Petko Plachkov said in the statement
Bright Money app helps consumers get out of debt, with the power of AI and machine learning.
The mobile app combines all the technology needed to manage and get rid of debt. The company offers credit score building, automated debt paydown pl

rupee, indian rupee, indian currency

After securing the Gold Medal at the event, Indian all-rounder Deepti Sharma expressed her delight about the triumphant campaign at the Hangzhou Asian Games

Deepti Sharma, Indian women's cricket team

Meta CEO Mark Zuckerberg will kick off the tech giant's Connect developer conference on Wednesday with a focus on virtual and augmented reality and artificial intelligence (AI).
The company, which renamed itself Meta two years ago, is expected to unveil the next version of its virtual reality headset, the Quest 3 and discuss AI chat-bots and other tools and features designed to keep users interested in Facebook and Instagram as competition with TikTok continues. This remains Meta's biggest challenge, said Insider Intelligence analyst Yoram Wurmser.
A lot of this effort around chat-bots and stories and other ways just to keep engagement going (like) AI-driven personalization and stuff like that, that's the overarching challenge for the company, he said.
Squeezed by a slump in online advertising and uncertainty around the global economy, Meta has cut more than 20,000 jobs since last November.
Zuckerberg dubbed 2023 the company's year of efficiency as it reduces its workforce while ..

Zuckerberg, Mark Zuckerberg

India's DOTA 2 team will begin their campaign against Kyrgyzstan and the Philippines in their opening group stage games on September 29

Asian Games 2023, Asian Games Hangzhou 2022

Aware of the challenge that awaits India against Japan, men's hockey team skipper Harmanpreet Singh said they will need to strengthen their defence and be ready to switch tactics against the defending champions during their Asian Games clash on Thursday.
India habe hardly been troubled so far, having won their first two games with big margins. India defeated Uzbekistan 16-0 in their opening Pool A game last week before mauling Singapore 16-1 in another lop-sided contest.
However, India will perhaps face their toughest challenge yet in the competition when they take on the 2018 Asian Games gold medallists.
"We are aware of the level of competition that we will face tomorrow. Japan have a strong unit and we are familiar with their strengths and weaknesses," said Harmanpreet Singh.
"We have to focus on our own style of play, but we have to also be ready to switch tactics as and when needed on the field to get a good result."
Japan too have been unbeaten in the Games, having beaten ..

India's captain Harmanpreet Singh during Men's Asian Champions Trophy match against Japan. Photo: Hockey India

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