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Japan's Nippon Paint Holdings arm, NIPSEA Group, on Monday announced the appointment of Sharad Malhotra as Managing Director of Nippon Paint India, effective December 1, 2025, making him the first Indian to occupy the position in the company. Malhotra will succeed Jon Tan as Managing Director, reporting to the Group's CEO, Wee Siew Kim, the company said in a statement. He becomes the first Indian to be appointed to this position in the company and will be responsible for driving the overall direction and strategy of India Group, it added. Malhotra will continue to spearhead Nippon Paint's global foray into the automotive aftermarket business, a category that he has led since inception, the statement said. "Sharad has successfully led and charted a strong growth path for our auto refinish business globally, while being based in India. His proven ability to deliver results, deep understanding of our business, and commitment to excellence make him ideally suited to lead our India ...
Nippon Life India Asset Management Ltd (NAM India) on Thursday reported a 4 per cent year-on-year drop in profit after tax (PAT) to Rs 345 crore for the quarter ended September 30. The asset management company had earned a PAT of Rs 360 crore in the year-ago period. However, the company's revenue from operations rose 15 per cent to Rs 658 crore in the second quarter of the current fiscal (FY26) from Rs 571 crore in the same period of the preceding fiscal, according to a stock exchange filing. Besides, the board of directors of Nippon Life India Asset Management has approved an interim dividend of Rs 9 per share. As of September 30, 2025, the company's assets under management (AUM) stood at Rs 7.61 lakh crore (USD 85.7 billion), and serves 21.9 million unique investors, representing over one in every three mutual fund investors in the country. Sundeep Sikka, Executive Director and CEO of NAM India, said, "In terms of business performance, we continue to gain market share with the .
Morgan Stanley and Nippon India Mutual Fund (MF) are among the investors that bought around 63 lakh shares worth Rs 438 crore of HealthCare Global Enterprises (HCG) from private equity firm CVC Capital Partners through open market transactions, according to the NSE data. Motilal Oswal MF and Plutus Wealth Management are the other two entities that bought shares in HCG. On Wednesday, Morgan Stanley, Nippon India Mutual Fund (MF), Motilal Oswal MF and Plutus Wealth Management purchased 63 lakh equity shares representing a 4.52 per cent stake in Bengaluru-headquartered HCG. The transaction was valued at around Rs 437.85 crore, and was executed at an average price of Rs 695 apiece on the National Stock Exchange (NSE). Meanwhile, Luxembourg-based CVC Capital Partners through its affiliate, Aceso Company Pte Ltd offloaded these shares at the same price. After the stake sale, Aceso Company holding in HCG has come down to 4.24 per cent from 8.76 per cent. Shares of Healthcare Global ...
In a bid to deepen financial inclusion, Nippon Life India Asset Management Ltd has opened a branch in Leh and is looking to expand its presence in border areas, its CEO Sundeep Sikka said. With this, Nippon Life India Asset Management (NAM India) -- promoted by Japan's Nippon Life Insurance Company -- becomes the only asset management company in the country to establish a physical presence in such a high-altitude region. This marks NAM India's 167th branch and its presence in 266 pin codes across the country. Explaining the reason for opening the branch, Sikka said Ladakh, a Union Territory known for its breathtaking landscapes, has seen a surge in tourism and economic activity in recent years. However, the region's financial landscape remains relatively underdeveloped, with limited access to a diverse range of investment products. The average assets under management (AAUM) in Jammu & Kashmir and Ladakh stood at Rs 10,844 crore as of June 2025, accounting for less than 0.14 per ...
President Donald Trump is holding a rally in Pennsylvania on Friday to celebrate a details-to-come deal for Japan-based Nippon Steel to invest in US Steel, which he says will keep the iconic American steelmaker under US-control. Though Trump initially vowed to block the Japanese steelmaker's bid to buy Pittsburgh-based US Steel, he changed course and announced an agreement last week for what he described as partial ownership by Nippon. It's not clear, though, if the deal his administration helped broker has been finalized or how ownership would be structured. Trump stressed the deal would maintain American control of the storied company, which is seen as both a political symbol and an important matter for the country's supply chain, industries like auto manufacturing and national security. Trump, who has been eager to strike deals and announce new investments in the US since retaking the White House, is also trying to satisfy voters, including blue-collar workers, who elected him as
President Donald Trump said on Friday that US Steel will keep its headquarters in Pittsburgh as part of what he called a planned partnership that seemed to signal that he'll approve a bid by Japan-based Nippon Steel to buy the iconic American steelmaker. Still, Trump's statement left it vague as to whether he is approving Nippon Steel's bid after he vowed repeatedly to block it. But investors seemed to take it as a sign that he would approve it, sharply pushing up US Steel's shares. Nippon Steel's nearly USD 15 billion bid to buy US Steel was blocked by former President Joe Biden on his way out of office and, after Trump became president, subject to another national security review by the Committee on Foreign Investment in the United States. Trump said in a statement that after much consideration and negotiation, US Steel will REMAIN in America, and keep its Headquarters in the Great City of Pittsburgh. What Trump called a planned partnership will create at least 70,000 jobs and ad