Latest news with #AGM
Time of India
42 minutes ago
- Business
- Time of India
Suits & Sayings: Word Play
Amid rampant speculation over a potential deal involving mega investments in this relatively young and rising financial services firm coming undone, there was increased chatter about cracks in a longstanding friendship between the key principals of the transaction. The target company's stock took a beating and the guessing game didn't spare the CEO either. But it turns out that the deal is on track and a revised proposal will be presented to shareholders at the upcoming AGM at the end of the month. Some had previously rejected the plan because it conferred permanent decision-making rights on one of the two new investors besides calling for amendment of the articles of association. The word 'permanent' will be dropped and the articles will remain unchanged. Instead, a board seat on nomination basis is being proposed. The other members will be able to invite the investor's solo representative to join key committees. With most regulatory approvals in place, save one, this much-needed capital boost should be able to sail through. You can bank on this one! Suits & Sayings Explore courses from Top Institutes in Select a Course Category Leadership Cybersecurity Design Thinking others Others Healthcare Public Policy Management CXO Finance Product Management healthcare MCA Data Science Project Management Operations Management Artificial Intelligence MBA Digital Marketing Data Analytics Data Science Degree Technology PGDM Skills you'll gain: Duration: 22 Weeks Indian School of Business SEPO - ISB Venture Capital & Private Equity India Starts on undefined Get Details Skills you'll gain: Critical Thinking & Decision-Making Skills Power of Emerging Technologies Innovation and Drive Organizational Change Fostering a Culture of Innovation Duration: 9 Months MIT xPRO MIT Technology Leadership and Innovation Starts on May 14, 2024 Get Details Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML SLP India Starts on undefined Get Details Skills you'll gain: Duration: 12 Months IIM Kozhikode Advanced Strategic Management Programme Starts on undefined Get Details Skills you'll gain: Duration: 12 Months IIM Kozhikode Senior Management Programme Starts on undefined Get Details Skills you'll gain: Duration: 18 Weeks 109820388 Strategic Marketing for Leaders: Leveraging AI for Growth Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK-Women Leadership Programme INDIA Starts on undefined Get Details Skills you'll gain: Duration: 12 Weeks IIM Kozhikode CERT-IIMK EPIS Async India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Indore Executive Programme in Business Management Starts on undefined Get Details Skills you'll gain: Strategic Thinking & Planning Competitive Advantage & Market Positioning Strategic Leadership & Decision-Making Change Management & Organizational Transformation Duration: 1 Year IIM Kozhikode IIMK Advanced Strategic Management Programme Starts on Mar 30, 2024 Get Details Skills you'll gain: Duration: 12 Months IIM Kozhikode SEPO - IIMK CEO Programme India Starts on undefined Get Details Skills you'll gain: Financial Accounting & Analysis Financial Instruments & Markets Corporate Finance & Valuation Investment Management & Banking Duration: 12 Months IIM Kozhikode IIMK Professional Certificate in Financial Analysis and Financial Management Starts on Mar 30, 2024 Get Details Skills you'll gain: Opportunities & Outlining Plans to use AI & ML Applying Data-Driven Business Innovation Best Practices Changing Culture to Integrate AI-Enabled Technologies Ethics, Privacy and Regulations in AI & ML Duration: 20 Weeks Indian School of Business ISB Leadership in AI Starts on May 14, 2024 Get Details
Glasgow Times
5 hours ago
- Business
- Glasgow Times
BP appoints former CRH boss Albert Manifold as new chairman
Albert Manifold, who was chief executive of CRH for 10 years until last December, will join the oil giant as chairman-elect on September 1 before taking over as chairman on October 1. Mr Lund had announced plans in April to step down 'in due course', but the group said it would probably take until 2026 to find his successor. Albert Manifold (Niall Carson/PA) Shares in BP lifted 1% in early morning trading. Aviva chief executive Dame Amanda Blanc, BP's senior independent director who led the hunt for Mr Lund's successor, said Mr Manifold was 'the ideal candidate to oversee BP's next chapter'. She said: 'Albert has a relentless focus on performance which is well suited to BP's needs now and into the future. 'He transformed and refocused CRH into a global leader.' CRH, which has its headquarters in Ireland, switched its stock market listing from London to New York in 2023 and has since seen its share price rocket by 74%. Speculation has swirled over whether BP will move its London listing to Wall Street after activist investor Elliott Management built up a stake in the group. But BP chief executive Murray Auchincloss has previously dismissed the rumours, saying in April the group had no plans to change its listing. Mr Lund has been chairman since 2019, but he has presided over a more challenging past few years for the firm. He oversaw the hiring of former chief executive Bernard Looney, who quit in September 2023 after failing to disclose his past relationships with company colleagues. Mr Lund also played a key part in overseeing the group setting its net zero agenda, but the firm has since rowed back on the shift towards green energy. BP bowed to pressure from shareholders by vowing to accelerate investment in oil and gas while slashing renewable spending by nearly three-quarters. In a major rebuttal for a FTSE 100 company, Mr Lund received a near 25% vote against his re-election at the firm's annual general meeting in April. Ahead of the AGM, a group of 48 institutional investors had criticised the board for not offering a direct vote on the oil major's revised strategy, while environmental groups fiercely criticised the climate row-back. The vote was largely seen as a protest, as Mr Lund had already announced his departure at the time of the AGM.
Leader Live
5 hours ago
- Business
- Leader Live
BP appoints former CRH boss Albert Manifold as new chairman
Albert Manifold, who was chief executive of CRH for 10 years until last December, will join the oil giant as chairman-elect on September 1 before taking over as chairman on October 1. Mr Lund had announced plans in April to step down 'in due course', but the group said it would probably take until 2026 to find his successor. Shares in BP lifted 1% in early morning trading. Aviva chief executive Dame Amanda Blanc, BP's senior independent director who led the hunt for Mr Lund's successor, said Mr Manifold was 'the ideal candidate to oversee BP's next chapter'. She said: 'Albert has a relentless focus on performance which is well suited to BP's needs now and into the future. 'He transformed and refocused CRH into a global leader.' CRH, which has its headquarters in Ireland, switched its stock market listing from London to New York in 2023 and has since seen its share price rocket by 74%. Speculation has swirled over whether BP will move its London listing to Wall Street after activist investor Elliott Management built up a stake in the group. But BP chief executive Murray Auchincloss has previously dismissed the rumours, saying in April the group had no plans to change its listing. Mr Lund has been chairman since 2019, but he has presided over a more challenging past few years for the firm. He oversaw the hiring of former chief executive Bernard Looney, who quit in September 2023 after failing to disclose his past relationships with company colleagues. Mr Lund also played a key part in overseeing the group setting its net zero agenda, but the firm has since rowed back on the shift towards green energy. BP bowed to pressure from shareholders by vowing to accelerate investment in oil and gas while slashing renewable spending by nearly three-quarters. In a major rebuttal for a FTSE 100 company, Mr Lund received a near 25% vote against his re-election at the firm's annual general meeting in April. Ahead of the AGM, a group of 48 institutional investors had criticised the board for not offering a direct vote on the oil major's revised strategy, while environmental groups fiercely criticised the climate row-back. The vote was largely seen as a protest, as Mr Lund had already announced his departure at the time of the AGM.
Time of India
6 hours ago
- Business
- Time of India
Reliance Industries share price target at Rs 1,300 or Rs 1,767? What brokerages predict
Shares of oil-to-retail conglomerate Reliance Industries (RIL) on Monday fell 3.5% to Rs 1,423 on BSE as Q1 results didn't provide the growth confidence that the market was looking for, but Mukesh Ambani's plan to double earnings by 2029 left room for optimism in the air. While Kotak Equities downgraded the bluechip Nifty stock to add from buy rating, JP Morgan and Jefferies have upgraded their target price by 8% and 5%, respectively. Out of 27 brokerages with coverage on the stock, 7 of them have target prices of at least Rs 1,700-mark. Nuvama remains the most bullish with the highest target price of Rs 1,767 on RIL. Others with targets of Rs 1,700 or more are Axis Capital , Jefferies, BNP Paribas , Goldman Sachs, and JM Financial. Explore courses from Top Institutes in Select a Course Category healthcare Public Policy Technology MCA Finance Degree Digital Marketing Design Thinking Data Analytics Operations Management Management Data Science MBA Product Management PGDM Project Management Healthcare others Data Science Leadership Cybersecurity CXO Artificial Intelligence Others Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML Healthcare Management India Starts on undefined Get Details On the other hand, Ambit is the biggest bear on RIL with a target price as low as Rs 1,300 and a sell call. Out of the 27 brokerage houses, 25 have a Buy/Add recommendation. The median target price of all brokerages stands at Rs 1,640, about 15% upside from current price. "RIL's June quarter earnings will not inspire the confidence we had hoped for both in energy and consumer retail. However, the miss in energy earnings was caused by temporary factors related to lower availability of cheaper crudes and expensive fuel oil; it should bounce back sharply in the current quarter. The weak top--line growth in retail reflects a very bumpy path ahead. The bright spot was New Energy, which we believe will surprise," Morgan Stanley said while maintaining its overweight call with a target price of Rs 1,617. Also Read | Explained: Why Reliance Industries shares fell 3% after reporting highest-ever profit Most analysts said RIL's Q1 results were a mixed bag with positive momentum in Jio offset by slower-than-forecast retail revenue. Kotak Institutional Equities, which downgraded the stock to add from buy rating, also reduced the target price from Rs 1,650 to Rs 1,520, saying that valuations are richer and the upside looks limited after the recent run-up in share prices. RIL shares have rallied around 17% so far in the calendar year. Investors will now focus on the upcoming AGM within two months and look for further announcements on growth plans in FMCG, the ramp-up of new energy facilities, the expansion of the media business, acceleration of growth in retail, the ramp-up of subscriber additions and monetisation for Jio along and the IPO of Jio, CLSA said. BofA Securities said beyond Q1, it continues to see steady to improving momentum across all businesses.
North Wales Chronicle
7 hours ago
- Business
- North Wales Chronicle
BP appoints former CRH boss Albert Manifold as new chairman
Albert Manifold, who was chief executive of CRH for 10 years until last December, will join the oil giant as chairman-elect on September 1 before taking over as chairman on October 1. Mr Lund had announced plans in April to step down 'in due course', but the group said it would probably take until 2026 to find his successor. Shares in BP lifted 1% in early morning trading. Aviva chief executive Dame Amanda Blanc, BP's senior independent director who led the hunt for Mr Lund's successor, said Mr Manifold was 'the ideal candidate to oversee BP's next chapter'. She said: 'Albert has a relentless focus on performance which is well suited to BP's needs now and into the future. 'He transformed and refocused CRH into a global leader.' CRH, which has its headquarters in Ireland, switched its stock market listing from London to New York in 2023 and has since seen its share price rocket by 74%. Speculation has swirled over whether BP will move its London listing to Wall Street after activist investor Elliott Management built up a stake in the group. But BP chief executive Murray Auchincloss has previously dismissed the rumours, saying in April the group had no plans to change its listing. Mr Lund has been chairman since 2019, but he has presided over a more challenging past few years for the firm. He oversaw the hiring of former chief executive Bernard Looney, who quit in September 2023 after failing to disclose his past relationships with company colleagues. Mr Lund also played a key part in overseeing the group setting its net zero agenda, but the firm has since rowed back on the shift towards green energy. BP bowed to pressure from shareholders by vowing to accelerate investment in oil and gas while slashing renewable spending by nearly three-quarters. In a major rebuttal for a FTSE 100 company, Mr Lund received a near 25% vote against his re-election at the firm's annual general meeting in April. Ahead of the AGM, a group of 48 institutional investors had criticised the board for not offering a direct vote on the oil major's revised strategy, while environmental groups fiercely criticised the climate row-back. The vote was largely seen as a protest, as Mr Lund had already announced his departure at the time of the AGM.
