Enterprise Financial News

government is mulling to come with a framework to prevent exploitation of content creators by big platforms on internet, minister of state for electronics and IT Rajeev Chandrasekhar said on Friday. The minister said that big powerful commercial platforms online have started to distort fundamental characteristic of openness of the internet. «I think to maintain the openness, the symmetry between those who create the content and those who distribute the content, there is a need for some sort of conversation or discussion.

Honasa Consumer Ltd.(up 3.97%), Heritage Foods Ltd.(up 3.85%), Parag Milk Foods Ltd.(up 3.81%), Britannia Industries Ltd.(up 1.97%), Colgate-Palmolive(India)Ltd.(up 1.44%), Nestle India Ltd.(up 1.12%), Dabur India Ltd.(up 0.99%), Tasty Bite Eatables Ltd.(up 0.85%), Hindustan Unilever Ltd.(up 0.30%) and Godrej Consumer Products Ltd.(up 0.13%) stood among the top gainers.

The 13th Ministerial Conference of the World Trade Organization (WTO) at Abu Dhabi, scheduled for 26-29 February, will discuss, among other issues, how the WTO can become more relevant for micro, small and medium enterprises (MSMEs) and businesses run by women. Informal working groups on both MSMEs and gender were launched at the 11th ministerial in 2017. Since then, each group has come up with reports and is working towards more concrete outcomes.

Mint explains the numbers. Just two months ahead of the national elections, the Narendra Modi government defied the temptation to use the Budget to announce any new measure that could be deemed populist. Instead, it showed the intent for better fiscal discipline than was expected, with an eye on a medium-term consolidation path.

BENGALURU : Byju’s, Dunzo and a bunch of other startups are in a standoff with some vendors, mostly over charges of delayed payments likely arising from mounting financial constraints within the ecosystem. These companies on their part deny the charges, in several instances accusing the vendors of straying from the terms of their contracts, or citing contractual disagreements for non-payments. Vendors, lawyers and industry observers pointed to an increase in cases of defaults or delayed payments last year as several startups struggled to raise capital.

The NSE Nifty index ended the session 385.0 points up at 21737.6, while BSE Sensex rose 1240.9 points to 71941.57. In the Nifty index, Oil And Natural Gas Corporation Ltd.(up 7.89 per cent), Reliance Industries Ltd.(up 7.02 per cent), Coal India Ltd.(up 6.01 per cent), Adani Enterprises Ltd.(up 5.92 per cent) and Adani Ports & Special Economic Zone Ltd.(up 4.40 per cent) stood among the top gainers.

Gautam Adani's sprawling conglomerate is core to India's ambitions to become the world's third-largest economy by 2030, as it plays a key role across the infrastructure sector, US-based Cantor Fitzgerald & Co said in a note. Adani Enterprises Ltd, the group's flagship company, can deliver a gain of more than 50 per cent, analysts Brett Knoblauch and Thomas Shinske wrote in a note dated January 28, initiating coverage of the company. «India is now the most populous country in the world and has ambitions to be the world's third-largest economy by 2030. To get there, India needs to invest in both digital and physical infrastructure, in addition to increasing its energy production, as energy consumption will be meaningfully higher,» the US-based broker said.

Shares of Godrej Properties Ltd.(up 4.45 per cent), Brigade Enterprises Ltd.(up 3.3 per cent), Phoenix Mills Ltd.(up 2.55 per cent), DLF Ltd.(up 1.15 per cent) and Prestige Estates Projects Ltd.(up 0.68 per cent) ended the day as top gainers in the pack. On the other hand, Macrotech Developers Ltd.(down 2.07 per cent), Mahindra Lifespace Developers Ltd.(down 0.75 per cent), Sobha Ltd.(down 0.36 per cent) and Swan Energy Ltd.(down 0.33 per cent) finished as the top losers of the day.

BSE Sensex soared 896 points to 71,637.61 while the Nifty50 jumped 291 points to 21,429.60. The market exhibited a clear bullish bias, as 37 out of the Nifty stocks were trading in positive territory, while only 13 were in the negative zone. The top gainers were ONGC up over 7 percent followed by Adani Enterprises, Adani Ports, Reliance Industries, and Coal India.

Adani Enterprises with an ‘Overweight’ rating and a target price of ₹4,368 per share, expecting an upside of over 50% on Adani Enterprises shares. Adani Enterprises share price jumped over 5% in early trade on Monday. The stock gained as much as 5.89% to ₹3,065.15 apiece on the BSE.

investing in the stock market in January 2024, would have noticed that the market has been slightly volatile of late. This has led to discussion around the prospects of the stock market in this election year. Given that it might be another tough year for the stock market, investors are looking towards “experts" now more than ever to tide over the rough times.

KIOCL Ltd.(up 5.39%), Sandur Manganese & Iron Ores Ltd.(up 4.88%), The Orissa Minerals Development Company Ltd.(up 3.21%), Gujarat Mineral Development Corporation Ltd.(up 2.46%), MOIL Ltd.(up 2.38%), Coal India Ltd.(up 1.67%), NMDC Ltd.(up 1.57%), Madhav Marbles & Granites Ltd.(up 1.52%), Aro Granite Industries Ltd.(up 1.39%) and Ashapura Minechem Ltd.(up 1.07%) were among the top gainers. 20 Microns Ltd.(down 2.14%) and Pokarna Ltd.(down 0.95%) were among the top losers.

Q3 results today: Over 900 companies, including industry leaders such as Aditya Birla Sun Life AMC Ltd, Adani Green Energy Ltd, Bajaj Finance Limited, Bharat Electronics Ltd, GAIL (India) Ltd, ITC Ltd, Larsen & Toubro Ltd, Marico Ltd, NTPC Ltd, Piramal Enterprises Ltd, SRF Ltd, Sun Pharmaceutical Industries Ltd, Tata Motors Ltd, UPL Limited, and Whirlpool of India Ltd, are slated to unveil their financial results for the third quarter on January 29. In the last trading session on January 25, the BSE Sensex dropped 360 points, reaching 70,701, and the Nifty 50 witnessed a decline of 101 points, closing at 21,353.

Adani Power: The Adani Group company saw its consolidated net profit increase more than more than 300-fold to ₹ 2,738 crore in the December quarter from ₹8.8 crore a year ago. Consolidated revenue from operations rose 67.3% year-on-year to ₹12,991.4 crore. SBI Cards and Payment Services: The company clocked 7.8% year-on-year growth in profit to ₹549 crore in the December quarter.

Market cap of 7 out of top 10 most valued firms decline by ₹1.16 lakh crore; HDFC Bank biggest laggard ITC, Bajaj Finance, NTPC, Adani Green Energy, Bharat Electronics, Punjab National Bank, GAIL, Bharat Petroleum, Corporation, Vodafone Idea, Marico, Petronet LNG, Nippon Life India Asset Management, Tata Investment Corporation, Piramal Enterprises, R R Kabel, Aditya Birla Sun Life AMC, Maharashtra Seamless, Nuvoco Vistas Corporation, Godfrey Phillips India, Jaiprakash Power Ventures, UTI Asset Management Company, Latent View Analytics, Garware Technical Fibres, CSB Bank, Restaurant Brands Asia, Muthoot Microfin, Mahindra Logistics, Heritage Foods, Venus Pipes & Tubes, Apollo Pipes, Jindal Drilling & Industries. L&T, Bajaj Finserv, Adani Total Gas, Dr Reddys Laboratories, Bajaj Holdings & Investment, SRF, Astral, PB Fintech, KPIT Technologies, Mahindra & Mahindra Financial Services, Coromandel International, Voltas, Star Health and Allied Insurance Company, Cochin Shipyard, Apar Industries, JBM Auto, Gillette India, Blue Star, Piramal Pharma, Shyam Metalics and Energy, Kaynes Technology India, KEC International, Arvind, VIP Industries, Jubilant Ingrevia, Triveni Engineering & Industries, Symphony, Strides Pharma Science, Jaiprakash Associates, TeamLease Services, J Kumar Infraprojects, New Delhi Television.

Bajaj Finance will be announcing its financial results for the December quarter on January 29, Monday. According to analysts, the lender's consolidated net profit is anticipated to experience a significant 25 percent year-on-year growth, reaching ₹3,716 crore. Brokerages further anticipates a 26 percent year-on-year (YoY) increase in net interest income to reach ₹9,344 crore, led by stable asset quality and robust growth in assets under management (AUM), foreseeing that these factors will be key drivers of earnings.

GenAI) and projected to nearly triple spends on this technology to USD 3.4 billion in 2024 across Australia, New Zealand, China, Japan, India, and Singapore, according to Infosys Research. While the spending trails North America, APAC's adoption, effectiveness, and growth are among the highest globally, it said. «Companies across Asia-Pacific are quickly ramping up investments in generative AI and entering a higher stage of maturity,» the IT major's research arm, Infosys Knowledge Institute (IKI), said in the research.

POEM-3, successfully achieves all payload objectives. With the likely re-entry of POEM-3 in the next 75 days, the PSLV-C58 XPoSat mission will be leaving zero debris in space," ISRO said in an X post on Saturday.

Budget 2024 expectations: Considered as the backbone of the Indian economy, the Micro, Small, and Medium Enterprise (MSME) sector consists of 29.15% of India’s Gross Domestic Product (GDP) till 2021-22. For the sector to unleash its fullest potential and increase its contribution to the Indian economy greater availability of institutional credit is the need of the hour.

FMCG companies have used strong aspirational demand to cross-subsidise sales in the mass category as they negotiated a surge in inflation. Pricing power at the top end of their product portfolio is allowing them the flexibility to experiment with pack sizes to keep consumers from downtrading. Grammage in price-sensitive packages is being increased and bridge packs are being introduced to create pathways for volume growth.

Budget Expectations: Following the success of production-linked incentive (PLI) schemes, the government needs to prepare the ground for employment-linked incentive schemes in the upcoming interim budget to spur employment generation and drive more people towards formalisation, said experts. «Several initiatives have been undertaken to spur employment generation in the country. Employment-linked incentives can be instrumental in encouraging micro, small and medium enterprises and developing sectors that have the potential to create a large number of jobs,» said R Mukundan, chairman of the CII National Committee on Industrial Relations. He said the government needs to build on its initiatives with additional incentives. Also read: Govt's formal job scheme may get extension