Ujjivan Small Finance Bank shares tank 17%, hit record low as CEO resigns
Nitin Chugh resigned as the companies CEO and MD after over two years due to “personal reasons”. The stock fell as much as 17% to ₹20.05 per share during intraday trade.
Johnson & Johnson’s Joaquin Duato to replace veteran Alex Gorsky as CEO
J&J said Alex Gorsky stepped down as CEO due to “family health reasons”, but will become executive chairman. He has been the companies CEO since 2012.
OYO’s valuation hits $9.6 bn after Microsoft’s $5 million investment
Microsoft’s strategic investment in OYO may involve OYO shifting to use Microsoft’s cloud services.
GMR to invest ₹20,000 crore on airports’ expansion, building new ones
GMR-operated Delhi Airport and Hyderabad Airport are undergoing expansion of terminal capacity to 100 million and 35 million passengers per year, respectively. GMR is developing a
Greenfield Airport in Goa and Crete International Airport in Greece as well.
Indian start-ups raised $16.9B in venture capital (VC) funding
A total of 828 VC funding deals were announced in India during January-July. Some of the notable VC funding deals announced include $3.6 billion raised by Flipkart which pushed its valuation to $37.6 billion. India is next only to Chinese counterparts in the Asia-Pacific (APAC) countries.
