Here are the top stories this afternoon:
Worst of supply constraints behind us, expect strong growth, says M&M's Rajesh Jejurikar
The revenue market share for sports utility vehicles (SUVs) is “back to the top position”, Mahindra & Mahindra (M&M) executive director Rajesh Jejurikar told CNBC-TV18. He added that the company is “getting 9,000-10,000 bookings every month for the XUV 700”.
Jejurikar also sought to dismiss speculation, stating that M&M “has no plans to undertake any restructuring”.
Vodafone Idea rises on report Amazon may invest Rs 20,000 crore
Shares of Vodafone Idea rose sharply on May 30 after The Ken reported that e-commerce giant Amazon is in the running to invest up to Rs 20,000 crore in the struggling telecom operator.
Vodafone Idea has been in the search for investors to raise fresh capital to pay down its debt and invest in its network after returning from the brink of bankruptcy following help from the government.
IT CEO pay shot up 835% in a decade while fresher’s salary grew 45%
CEO paycheques in India’s largest information technology (IT) companies have grown disproportionately faster than the salaries of fresh hires in the industry.
While the median annual pay of CEOs zoomed 835 percent from Rs 3.37 crore in FY12 to Rs 31.5 crore in FY22, the median salary package of freshers grew just 45 percent — from Rs 2.45 lakh to Rs 3.55 lakh — over the course of a decade, according to a Moneycontrol analysis.
Tata Motors signs MoU with Gujarat for the acquisition of Ford India’s Sanand plant
Tata Motors has signed a Memorandum of Understanding (MoU) with the Gujarat govt for the potential acquisition of Ford India’s Sanand plant, it said in a regulatory filing on May 30.
The agreement includes a transfer of Ford India's land & buildings, vehicle manufacturing plant, machinery, and transfer of all eligible employees.
PM Modi unveils Rs 10-lakh support for Covid-orphaned children under PM Cares scheme
Prime Minister Narendra Modi released the benefits under the ‘PM Cares for Children’ scheme through video-conferencing. It will support those who lost their parents in the pandemic.
"I know how difficult the situation is for people who have lost their family members during the Covid-19 pandemic. This programme is for the children who lost their parents during the pandemic. PM CARES for Children Scheme is an attempt to help such children," Modi said.