Latest Company News Today on October 2, 2024: Live Updates
In a recent development in the corporate world, the promoter of Sterling & Wilson has clarified that they are not exiting the company, despite a recent stake sale that led to a crash in the stock price. This announcement comes after concerns were raised following the stake sale to fund an investment in Sterling & Wilson Data Centre, a new company that acquired the data centre EPC business from Sterling and Wilson in a slump sale.
On a different note, Titan’s Helios is set to launch exclusive luxury watch stores as demand for premium timepieces surges. The company plans to invest ₹3.5 crore in each store as it capitalizes on the premiumization trend in the world’s fastest-growing market for luxury watches.
Meanwhile, in the world of quick commerce, companies like Blinkit are looking to take on giants like Amazon in the electronics sector. Despite initial skepticism, quick commerce has become a major revenue driver. However, to diversify into higher-value items like expensive electronics, these ventures are exploring new strategies.
Additionally, Groww has reported impressive financial results, with net profits surging by 308% and revenue reaching ₹2,900 crore in the financial year 2024. The brokerage unit of Groww recorded a significant increase in net profits compared to the previous financial year, showcasing strong growth and performance.
These latest updates from the corporate world highlight the dynamic nature of industries and markets globally, showcasing the strategic shifts, financial reports, and developments that shape the economic landscape. Stay tuned for more live updates on company news to stay ahead of the curve and make informed decisions in a rapidly changing business environment.
