Abhishek Kapoor resigns as Group CEO of Puravankara; Mallanna Sasalu named CEO–South
The company confirmed the resignation in a regulatory filing and has attached the resignation letter as part of the disclosure in compliance with SEBI's Master Circular dated November 11, 2024. No specific reasons for the resignation were mentioned in the public communication.
In parallel, Puravankara has proposed the appointment of Mr. Mallanna Sasalu as CEO–South, effective May 9, 2025, subject to approval by the Nomination and Remuneration Committee and the Board of Directors at their upcoming meetings. Mr. Sasalu is currently associated with Provident Housing Ltd., a subsidiary of Puravankara, and brings over 32 years of experience in engineering, architecture, and real estate development. He is a Civil Engineering graduate and an alumnus of Harvard Business School.
According to the disclosure, Mr. Sasalu is not related to any existing directors of the company. Abhishek KapoorPuravankara
Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
3 hours ago
- Business Upturn
Maithan Alloys acquires stake in GAIL India worth Rs 10.55 crore
By Aditya Bhagchandani Published on July 3, 2025, 10:59 IST Maithan Alloys Limited has disclosed that it acquired 5.55 lakh equity shares of GAIL (India) Limited, amounting to 0.017% stake, in a stock exchange transaction on July 2, 2025, for a total consideration of ₹10.55 crore. In a filing to stock exchanges under Regulation 30 of SEBI (LODR) Regulations, Maithan Alloys stated that the acquisition forms part of its investment portfolio, aimed at reaping long-term and short-term benefits. The company clarified it does not intend to acquire control over GAIL, directly or indirectly. GAIL, India's largest state-owned natural gas processing and distribution company, reported a turnover of ₹1,37,288 crore and a net profit of ₹11,312 crore for FY25, with a net worth of ₹63,241 crore. GAIL's diversified portfolio spans natural gas transmission, trading, LPG, liquid hydrocarbons, and petrochemicals, with interests in India and abroad. The shares were acquired at market price through stock exchanges, and Maithan noted the event occurred on July 2 and was confirmed on July 3. 'The shares were acquired through the stock exchange and form part of Maithan Alloys' investment portfolio with a view to reap the long-term/short-term investment benefits,' the company said. Maithan Alloys, headquartered in Kolkata, is engaged in the production and sale of ferro alloys and related products, with manufacturing facilities in West Bengal, Meghalaya, and Andhra Pradesh. For FY25, GAIL's turnover stood at ₹1,37,288 crore, up from ₹1,30,638 crore in FY24 and ₹1,41,302 crore in FY23. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Yahoo
9 hours ago
- Yahoo
Tom Lee Says Tesla's Magic Isn't About Government Subsidies: 'It's A Granny Shot' Powered By Elon Musk, AI And Massive Data
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Fundstrat's Tom Lee stated that Tesla Inc.'s (NASDAQ:TSLA) success is not due to government subsidies, but rather a combination of factors including engineering talent, manufacturing expertise and leadership. What Happened: On Tuesday, Lee took to X to express his views on Tesla's success. He stated, 'Magical alchemy of $TSLA not 'govt subsidies' – engineering talent – manufacturing expertise – leading AI and software – leadership – massive dataset – future products. 'Government not on list $TSLA is a granny shot,' stated Lee. Trending: GoSun's Breakthrough Rooftop EV Charger Already Has 2,000+ Units Reserved — This post comes in the wake of a series of discussions and debates about the role of government subsidies in Tesla's success, particularly after President Donald Trump stated so in his Truth Social Post. "Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa," posted post suggests that he believes Tesla's success is primarily due to its internal strengths and not external It Matters: Lee's post comes at a time when Tesla's future is a topic of intense speculation. His comments echo those of other industry experts, who have also highlighted the company's unique position in the market. Wedbush analyst Dan Ives recently reiterated his bullish stance on Tesla, positioning it as one of the premier investments in the field of physical AI. Ives forecasts a staggering $2 trillion valuation for Tesla, without factoring in the future earnings from its humanoid robot, Optimus. Ives explained Tuesday's weak performance for Tesla amid a fallout between CEO Elon Musk and Trump. Ives described the situation as a 'junior high school friendship gone bad.' However, he added that it would eventually stabilize. On the other hand, investment advisor Ross Gerber criticized Tesla board members for remaining silent amid the escalating Trump-Musk Feud. Read Next: $100k+ in investable assets? Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes – no cost, no obligation. Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here's how you can earn passive income with just $100. Image via Shutterstock This article Tom Lee Says Tesla's Magic Isn't About Government Subsidies: 'It's A Granny Shot' Powered By Elon Musk, AI And Massive Data originally appeared on Sign in to access your portfolio
Time Business News
18 hours ago
- Time Business News
Brokerage Calculators: Your Secret Tool for Smart Trading Decisions
When you are a beginner in the stock market, you assume that if you buy a stock at ₹100 and sell it at ₹115, your profit income would be ₹15. However, later, you find out that your profit is reduced when you take a look at your trading account. You can see that there were additional costs that resulted in a reduced profit. To overcome this problem, a brokerage calculator may be of considerable help. Continue reading to find out why. A brokerage calculator is an online tool provided by brokers at no cost to help traders and investors easily calculate their brokerage fees before executing a trade. The fees charged are small, but combining these costs can reduce your overall profit. A brokerage calculator can determine and tell you the estimated profit or loss after subtracting all added charges through calculation, before you even place the trade. Some of the charges subtracted from your profit are: Brokerage Fee – Charged by the stockbroker Securities Transaction Tax(STT) – Government applied tax Transaction Charges – Charged by stock exchanges SEBI Charges – Charged by the Securities and Exchange Board of India GST – Tax on brokerage and other fees Stamp Duty – State-wise tax on transactions Not all trades are the same. Buying shares for intraday trading is different from of long-term trading. Hence, based on the type of trade or market segment, there are different types of brokerage calculators: Commodity Brokerage Calculator: Calculates brokerage fees on commodities such as gold, silver, crude oil, and more. Options And Future (F&O) Brokerage Calculator: Estimates brokerage charges for trading in options and futures contracts, taking contract values and premium sales into account. Intraday brokerage calculator: meant for same-day buy and sell. The charges are usually lower than the delivery. It is beneficial for intraday traders to check if their trade is profitable after accounting for costs. Currency brokerage calculator: made for trading in foreign currencies, often in the forex market. Delivery brokerage calculator: meant for buying and holding shares for more than one day. It displays charges such as brokerage, Securities Transaction Tax (STT), and stamp duty. When you are involved in stock market trading, many concentrate on buying low and selling high, while forgetting that there are additional costs involved. In every trade, fees such as brokerage fees, taxes, and others drain your profits. Given below are the reasons why you should use one: Understand the actual expense of trading. Your profits do not come from the difference between buying and selling stocks. Several charges like GST, SEBI, transactional charges, and more are first deducted from the initial profit to result in your overall profit in your trading account. A brokerage calculator helps measure all these costs in one place, letting you know your actual earnings. You can plan better trades Knowing the charges helps you set realistic profit targets, choose stop-loss levels more accurately, and avoid unprofitable trades. A brokerage calculator is beneficial in intraday and F&O trading, where margins are small. It saves your time and effort Calculating every tax and fee manually is complicated and time-consuming; however, a brokerage calculator does it instantly, allowing you to focus on making better trading decisions. Works for every kind of trader Beginners can gain a clear understanding of the costs involved and establish a solid foundation. Intraday traders can stay on top of their gains and avoid losses due to hidden charges. Long-term investors can obtain a more accurate estimate of net returns when exiting large positions. A brokerage calculator helps you determine the estimated profit or loss after factoring in all charges, including brokerage, taxes, and fees. It makes planning easier, removes guesswork, and is helpful for all types of traders. In just seconds, you get accurate cost estimates for better, smarter trading decisions. TIME BUSINESS NEWS
