Top Business and Finance News Highlights of the Week on 4 May 2024

This week in the world of business and finance, the Godrej family made headlines with the realignment of their shareholdings in the Godrej Companies. Jamshyd Godrej will now be owning the Godrej Enterprises Group, which includes a wide range of industries such as Aerospace, Aviation, Defence, Energy, and Healthcare Equipment. The company stated that this group will be controlled by Jamshyd Godrej, Nyrika Holkar, and their immediate families.

In other news, The Coca-Cola Company expressed confidence in its India business despite a slow start to the year. Chairman & CEO James Quincey highlighted the strong sales performance of Indian brands like Thums Up. The company reported net gains of $293 million related to refranchising its bottling operations in certain Indian territories.

Moving on to the telecom sector, Vodafone Idea may receive relief from the government in deferring or converting adjusted gross revenue and spectrum dues into equity post September 2025. The company recently completed a successful follow-on public offer, raising Rs 18,000 crore.

In the healthcare industry, online pharmacy retailer PharmEasy raised Rs 1,804 crore in a funding round led by Manipal Education and Medical Group. However, the funding round led to a 90% decrease in the company’s valuation.

In the technology sector, the tenth-generation iPad is now selling at its lowest price ever in India ahead of Apple’s upcoming special event. The auto sector also saw updates with Force Motors unveiling the updated Gurkha range, including a new 5-door version.

Overall, it has been an eventful week in the world of business and finance with significant developments across various industries.