MMFS is looking at a compounded annual growth rate (CAGR) of 18 per cent in assets under management (AUM) during FY23 to FY26 on the back of the strong recovery. The company has initiated risk-mitigating initiatives, including diversification into non-vehicle loans, building digital capacity and re-classification of customer profiles into affluent and mass-affluent in semi-urban segments to better target marketing.
Posts tagged Rediff
Journey of detergent brand Nirma towards healthcare (12-10-2023)
Nirma’s tryst with the pharmaceutical space started in 2006 when it acquired the ailing Core Healthcare in a deal reported to be worth Rs 300 crore. The Ahmedabad-based manufacturer of intravenous fluids was subsequently renamed Nirlife. Pharma industry insiders say Nirma, which broke open the detergent market in the 1990s with low prices and massive advertising, tried an encore of the low-price strategy in pharma, but with mixed results.
TCS says no major impact of Israel conflict on its biz (11-10-2023)
The country’s largest IT services company TCS on Wednesday said it has 250 staffers in Israel and stressed that the ongoing conflict will not have any major impact on its business. The company said it is in constant touch with all staffers, and at present, the focus is their safety and to look at how they help the communities they live in. It has initiated business continuity plans wherever necessary to ensure that the customers do not get impacted, TCS chief operating officer N Ganapathy Subramaniam told reporters, adding that it does not expect any major impact of the war on its business.
No more WFH, TCS employees told to work from offices (11-10-2023)
The company — the first major IT services firms to announce such a move — has asked its workforce to return to offices because of the need to deepen the value systems and a belief in productivity gains coming from co-working, TCS chief human resources officer Milind Lakkad told reporters.
IiAS against Anant on Reliance board (11-10-2023)
Proxy advisory firm IiAS has recommended that institutional investors should vote against the appointment of Anant Ambani on Reliance Industries Ltd’s (RIL’s) board, citing his age as the reason. The firm has, however, given its green light to the appointment of Anant’s elder siblings – Akash and Isha. In its recommendation note, IiAS said, “At 28 years of age, his appointment as a non-executive, non-independent director does not align with our voting guidelines.”
India’s jobless rate at 6-year low of 3.2% (11-10-2023)
India’s unemployment rate fell to a six-year low of 3.2 per cent in the July-June 2022-23 period, down from 4.1 per cent in the same period the previous year, according to the latest annual Periodic Labour Force Survey (PLFS) report. The report, released by the National Statistical Office (NSO) on Monday, showed a decline in unemployment rates in both rural and urban areas during the 2022-23 period to 2.4 per cent and 5.4 per cent, respectively, from 3.2 per cent and 6.3 per cent in the 2021-22 period. The unemployment rate for rural women (1.8 per cent) was lower than that for rural men (2.7 per cent) in 2022-23; in urban areas, the rate was higher for females (7.5 per cent) compared to males (4.7 per cent).
TCS says IT cos not yet out of woods; Q2 net up 9% (11-10-2023)
The country’s largest software company Tata Consultancy Services (TCS) on Wednesday said its net profit increased 8.7 per cent year-on-year to Rs 11,342 crore in the September 2023 quarter. The Tata Group flagship had reported a net profit of Rs 10,431 crore in the year-ago period.
Sensex rises 394 points, Nifty closes above 19,800 (11-10-2023)
Among Sensex stocks, Wipro gained the most by 3.29 per cent. Ultratech Cement, Reliance Industries, Hindustan Unilever, Nestle, NTPC, M and M, HDFC Bank, ITC, Kotak Bank and Axis Bank were among the winners. On the other hand, HCL Tech fell the most by 1.24 per cent. SBI, TCS, Infosys, IndusInd Bank and Tata Steel also dropped.
‘Bond inclusion positive from long term perspective’ (11-10-2023)
‘Higher inflows into these securities should lead to lower borrowing costs for the government.’
‘We want to be No. 1 in affordable housing by FY26’ (11-10-2023)
‘This segment has performed very well for us and this is reflected in our bounce rate which is about three to four per cent.’