Meta to set extraordinary targets for Mark Zuckerberg and provide free shares to shareholders

Meta has set 'extraordinary' targets for its CEO Mark Zuckerberg and announced a plan for free shares for shareholders. According to a report by The Times of India, whenever the company's stock doubles and achieves at least 10% compounding annually, Meta will provide free Class C shares to its shareholders.

These Class C shares carry no voting rights, allowing Mark Zuckerberg to sell shares without losing his control over the company. This arrangement will help him pay California's Prop 40 billionaire tax. As part of this plan, Zuckerberg has committed to residing in California for the next 8 years.

On the other hand, Meta intends to use these shares to raise funds for development and investment in its Artificial Intelligence (AI) sector. The company has described these targets as 'extraordinary', indicating its desire for aggressive growth in the future.

Meanwhile, significant results have also emerged in the pharmaceutical sector. According to Business Standard, Emcure Pharma's second-quarter net profit increased by 29.31% to ₹325 crore, compared to ₹251.37 crore during the same period last year.

Additionally, according to a report by The Hindu, Aurobindo Pharma's second-quarter net profit increased by 32.5% to ₹1,124 crore. The company's operational revenue grew by 24% to ₹10,263 crore, marking its highest quarterly revenue to date. The company has declared an interim dividend of ₹7 per share. However, growth has slowed compared to the June quarter, where profit was ₹1,032 crore and revenue was ₹9,150 crore.

K. Nityananda Reddy, Vice-Chairman and Managing Director of Aurobindo Pharma, stated that this performance reflects the strength of business fundamentals and the resilience of the diversified product portfolio. He added that the company's capacity has increased through organic momentum and the successful integration of inorganic opportunities.

According to company data, revenue in the US increased by 25% to ₹4,555 crore, in Europe by 27% to ₹3,161 crore, and in growth markets by 16% to ₹1,026 crore. Total formulations revenue stood at ₹9,102 crore (previously ₹7,325 crore) and API revenue was ₹1,162 crore (previously ₹961 crore).