Market News
3 min read | Updated on January 14, 2025, 12:47 IST
SUMMARY
Shares of United Spirits were trading over 4% lower at ₹1,422.55 apiece on the NSE after the company announced the change in management. Hina Nagarajan, who has served as Managing Director and CEO for four years, will step down on March 31, 2025, to take on a new role within the Diageo Group.
Stock list
At 12:34 PM, the S&P BSE SENSEX was trading at 76,568.34, up 238.33 points, or 0.31%.
At 12:34 PM, the S&P BSE SENSEX was trading at 76,568.34, up 238.33 points, or 0.31%, while the NSE's NIFTY50 index was ruling at 23,169.10, down 83.15 points, or 0.36%.
The numbers were in line with Street estimates; however, no big positive surprises or announcements, as expected by the Street, dented sentiment.
This follows the approval by the Committee of Creditors, with the closure of the transaction subject to the necessary regulatory approvals from the National Company Law Tribunal and Competition Commission of India.
The company is slated to release its December quarter results today.
The company reported a 3.5% year-over-year (YoY) increase in net profit at ₹35.7 crore for the third quarter ending December 31, 2024.
However, revenue from operations declined by 7.5%, amounting to ₹194.3 crore in Q3FY25, compared to ₹210.1 crore in the corresponding quarter of the prior year.
Hina Nagarajan, who has served as Managing Director and CEO for four years, will step down on March 31, 2025, to take on a new role within the Diageo Group.
Effective March 1, 2025, Praveen Someshwar has been appointed as Chief Executive Officer - Designate.
Adani Green is majority-owned by conglomerate Adani Group and minority-owned by TotalEnergies. The company operates the Kamuthi Solar Power Project, one of the largest solar photovoltaic plants in the world.
Adani Group Chairman Gautam Adani met Chhattisgarh Chief Minister Vishnu Deo Sai on Sunday and announced a major investment of ₹65,000 crore for the state. This investment, aimed at expanding the Adani Group’s energy and cement projects, is expected to drive significant growth in the region.
On January 10, the company announced that it had inked a ₹792 crore deal to acquire Enel Green Power India Pvt Ltd (EGPIPL).
About The Author
Next Story