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News on Medial
Truecaller spends $140 mn on dividends, buybacks amid share slump
The Arc Web
·
1y ago
Medial
Caller ID app Truecaller has spent $141 million on dividends and share buybacks over the past 18 months during a period of business slowdown. The company recently announced a special dividend of $54.4 million (SEK 590 million) for its shareholders, along with plans to give 25% of its profit after tax as dividends each year. Additionally, Truecaller has completed a share buyback, spending $86.5 million (SEK 940 million) to cancel a 7.5% stake. Despite the positive news, Truecaller's market capitalisation has dropped to $1 billion, and its shares are currently 35% lower than the IPO price in 2021.
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Budget impact? 16 firms announce share buyback before new tax rules take effect
Money Control
·
11m ago
Medial
The Indian government is set to implement new tax rules on share buybacks, causing concern among investors. Currently, companies pay a 20% tax on buybacks, with no additional tax for investors. However, under the new rules, companies will not deduct taxes, and investors' proceeds will be taxed as dividends based on their income tax slab. This change is expected to result in higher out-of-pocket taxes for investors. Buybacks have been a popular way for companies to reward shareholders, but the new tax rules may discourage this practice.
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Mint Explainer: The budget, buybacks, and Esop taxation
Livemint
·
1y ago
Medial
The government has proposed changes to the taxation of share buybacks in India, which will impact investors and employees, including those holding employee stock options (ESOPs). Under the budget proposal, investors would be taxed on share buybacks as dividend income, with the tax rate determined by their income slab. Additionally, employees may face higher taxes if a company buys back shares under section 68 of the Companies Act. Startups often undertake buybacks through incoming investors, and these will continue to be taxed as capital gains. The proposed changes aim to remove the current tax advantage associated with share buybacks.
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Aviva Plc to buy back shares worth £300 million
Livemint
·
1y ago
Medial
British insurance and asset management company Aviva Plc plans to buy back shares worth £300 million after reporting growth in sales and operating profit. The company's operating profit increased 9% to £1.467 billion in 2023, with a final dividend of 22.3 pence per share declared. Aviva has returned over £9 billion to shareholders in the past three years through buybacks and dividends. The company also recently acquired insurance platform Probitas for £242 million, marking its return to Lloyd's of London market after two decades.
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Circle Upsizes US IPO to 32 Million Shares, Targets $7.2 Billion Valuation; BlackRock Eyes 10% Stake | DeepNewz Stocks
Business Bytes
·
2m ago
Medial
Circle is targeting a $7.2 billion valuation by upsizing its US IPO to 32 million shares. Despite similar net incomes, comparisons with $MKR/SKY highlight the latter's more attractive financial incentives, including substantial daily buybacks and dividends. This contrasts with Circle's lack of these financial benefits, suggesting potential market reevaluation opportunities for $MKR/SKY based on their income distribution strategies.
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Ashok Leyland Jumps 3.5% on Bonus Issue Buzz, Earnings Due May 23
OutlookIndia
·
2m ago
Medial
Ashok Leyland shares increased by 3.5% amid news that the board will consider a bonus share issue alongside its quarterly earnings announcement on May 23. A bonus issue can reward shareholders and increase their holdings without cash dividends, thus retaining capital for future growth. The company declared a dividend of Rs 6.25 per share in FY25. This potential bonus issue would be the first in 14 years. The stock is 30% higher than its 52-week low.
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China's SMIC flags chip oversupply risk on weakening demand, rising output
Economic Times
·
5m ago
Medial
China's largest chipmaker, SMIC, warns of potential chip oversupply by late 2025 due to declining demand and increased production capacity, sparking price competition. The company focuses on established chips for consumer electronics, heavily affected post-COVID demand slump. SMIC saw a 31.5% revenue increase in Q4 2023, forecasting continued growth amid rising share prices. However, U.S. export controls affect access to advanced technology, prompting SMIC to boost domestic semiconductor capability and manage profitability challenges.
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Chinese consumers cheer Apple's iPhone 15, others prefer Huawei
Economic Times
·
1y ago
Medial
Apple's iPhone 15 received mixed reactions in China, its third-largest market. Many users liked the faster chip and improved gaming capabilities, but some preferred Huawei's new smartphone. Huawei's recent launch and state media support amid US sanctions have influenced consumer sentiment. The smartphone market in China is in a slump, and the country's slowing economy may affect iPhone 15 sales. IDC predicts increased competition from Huawei will gradually reduce Apple's market share in China's premium phone market.
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1mg overtakes PharmEasy in market share in top order change
Economic Times
·
1y ago
Medial
Tata 1mg has emerged as the leader in India's e-pharmacy market, surpassing PharmEasy in terms of gross merchandise value (GMV) after implementing cost controls and consolidation efforts. According to market research firm Redseer, Tata 1mg had a 31% market share in September 2023, while PharmEasy's share dropped to 15%. Other major players like Flipkart Health Plus, Reliance-Netmeds, and Apollo maintained their GMV market share. PharmEasy's focus on profitability and reduction in marketing spends contributed to the shift in market share dynamics.
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Ola Electric Hits Fresh All-Time Low Amid Broader Market Slump
Inc42
·
1m ago
Medial
Shares of Ola Electric fell to a new all-time low of INR 43.15 on the BSE, slipping 6.3% today amid broader market declines and negative sentiments regarding geopolitical tensions. The stock slightly regained ground to close 5.93% lower at INR 43.32. This downturn continues a losing trend for Ola Electric, which also saw a 1.9% drop the previous week. The company's shares are part of a larger slump amid global uncertainty.
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Capillary buys back ESOPs worth $20 mn from 200 employees
The Arc Web
·
1y ago
Medial
Capillary Technologies has raised an additional $95 million in an ongoing funding round, bringing the total raised to $140 million. The funding round was led by Avataar Ventures' limited partners, including 57Stars, Pantheon, Unigestion, and The Evolvence Group. Other existing investors, such as Filter Capital, also participated. The funds will be used for share buyback, with approximately $20 million allocated for former and current employees. This is the company's fourth ESOP buyout since its inception in 2008.
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