Enterprise Financial News

Dividend Stocks: Shares of some companies, including Wipro Ltd, Angel One, Mastek, and few others will others will trade ex-dividend in the coming week, starting from Tuesday, January 23. Some other companies will also trade ex-split while some have announced a buy back of shares next week. The ex-dividend date is the day on which the equity share price adjusts to reflect the next dividend payout.

Also Read- Budget 2024 expectation: Fiscal consolidation to continue in FY25 says BofA However it may still have something in store for investors that they will need to remain watchful for. One key theme which has remained key highlight of the current government is its focus on infrastructure spending and capex.

Google had announced in December last year that it will launch Bard Advanced AI chatbot, powered by its most powerful Gemini Ultra large language model (LLM), in early 2024. The company had also shared that Bard Advanced will be a cutting-edge AI experience in Bard, which will give users access to the best models and capabilities. In addition, the Mountain View, California-based company had said it would launch a trusted user testing programme "soon" before opening access to Bard Advanced.

The benefits do not in any manner reduce the fulfilment and adherence to compliances, which if taken lightly, could also result in imprisonment of key personnel. Compliance is always viewed as a cost to an organisation hence the consistent approach to simplify fulfilment at the lowest cost possible making this a sweet spot for innovative technology solutions, and even more important from an SME perspective since this sector works on tight operating costs. “Reg Tech” is a common jargon in recent times which refers to regulatory compliance technology which could vary from simple tools which list the various compliances that an organization must adhere to in a checklist pattern to complex integrated platforms which use a combination of source systems and manual intervention to complete the end-to-end cycle of compliance fulfilment process.

Mint’s Ravi Krishnan, Gupta, who manages assets worth ₹2.27 trillion, emphasised that the biggest thing to monitor in the upcoming interim budget is the government's commitment to its fiscal consolidation plans. Edited excerpts: I think after the results of the state election, both concerns seem significantly mitigated. Going into the polls, there was apprehension that competitive populism might emerge, but this government has largely avoided this in recent years.

Budget expectations: The union budget speech by the Hon. Minister of Finance in the previous year started off with emphasis on the economic empowerment of women. This was to be through developing the lakhs of SHGs in the country into viable income generating producer organisations and economically sustainable women enterprises. The budget also accorded renewed emphasis on enhancing the incomes of the largely small and marginal farmers of the country. Also Read: Nari-shakti may drive Bharat's moment in the world order These targets and priorities are in sync with the circumstance and needs of the stakeholder categories who constitute much of the Indian populace.

Grim milestones have kept piling up in recent days: Tokyo has overtaken Shanghai as Asia’s biggest equity market, while India’s valuation premium over China has hit a record. Locally, a meltdown in Chinese shares is wreaking havoc on the nation’s asset management industry, pushing mutual fund closures to a five-year high. The Hang Seng China Enterprises Index has already lost 11% in 2024.

Reliance Industries: The company reported its December quarter results along expected lines. Its telecom and retail segments contributed significantly to revenue and EBITDA, while oil-to-chemicals revenue declined on lower price realisation led by a decline in average Brent crude oil prices, the company stated in exchange filings. Its consolidated PAT for Q3FY24 rose 10.9 % year-on-year (YoY) to ₹19,641 crore, compared to PAT of ₹17,706 crore (adjusted to reflect the demerger of the financial services business), in the same quarter last year.

MUMBAI : Infrastructure conglomerate Adani Group has released pledged shares worth ₹2,878 crore ($346.2 million) related to four of its companies during the December quarter, BSE data analyzed by Mint showed. The group released a total 28.67 million pledged promoter shares across Adani Enterprises Ltd, Adani Green Energy Ltd, Adani Ports and Special Economic Zone Ltd, and Adani Energy Solutions Ltd. Notably, the group has reduced its pledge positions related to ACC Ltd and Ambuja Cements Ltd to zero, from 11.72% and 100%, respectively.

Aileen Lee, cofounder of seed venture capital firm Cowboy Ventures. Lee, who coined the term unicorn for startups valued at $1 billion or more, said more startups are likely to join the club where unicorn valuations will trade lower.

Zee Entertainment Enterprises (ZEE) on Friday said that it is not aware of any board meeting of Sony Pictures, where it was expected to seal the fate of a $10-billion merger deal. «The company is not aware of, and cannot comment on, any board meeting held or proposed to be held by Culver Max Entertainment Pvt Ltd (formerly Sony Pictures Networks India Private Limited), given that these are internal matters of Sony,» Zee said in a filing. Punit Goenka-led Indian media giant reiterated that it is committed to the merger with Sony and is continuing to work towards a successful closure of the proposed merger. Earlier today, multiple media outlets reported that a board meeting of Sony was scheduled on Friday to take a call on the merger deal with Zee. «Two key meetings are set to be held back-to-back. Culver Max Entertainment is likely to hold a board meeting on Thursday night, followed by Sony at its Tokyo headquarters,» an ET report noted. Reacting to the media reports, Zee said it is engaging in good faith negotiations with Sony with a view to discuss the extension of the date required to make the scheme effective, by a reasonable period of time. Zee and Sony agreed on a merger two years ago, but the proposed deal hit a brick wall after Sony expressed inhibitions about Goenka running the combined entity. It was expected that the deal would be completed within the stipulated deadline of December 2023.

1. Hyperlink InfoSystem Hyperlink InfoSystem, a renowned AI development company, delivering simple solutions to complex business problems since 2011. Hyperlink InfoSystem team is most recognized for its custom development services, which cover everything from the creation of intelligent IoT solutions to app development.

OpenAI has partnered with Arizona State University to bring ChatGPT into the classroom. The new collaboration will bring the capabilities of ChatGPT Enterprise to higher education and set a new precedent for how universities can improve learning, creativity and student outcomes, Arizona State University said in a release.

(Reuters) — Microsoft-backed OpenAI has signed a deal with Arizona State University as the ChatGPT owner looks to expand its partnerships beyond technology and media firms.

India for the year 2023, reaching $66 billion, marking a decrease of over 50 percent, a recent report from consultancy firm Grant Thornton Bharat found. Released on January 19, the report found a decline of over 20 percent in deal volume, with 1,641 deals compared to the previous year. Shanthi Vijetha, a partner at Grant Thornton Bharat, pointed out several factors contributing to this.

Zee Entertainment Enterprises Ltd. slipped 3.8 per cent to Rs 238.7 in Friday's trade as of 02:10PM (IST). It hit a high of Rs 252.95 and low of Rs 233.15 during the session.

Sobha, Brigade Enterprises, DLF, and Macrotech Developers, rallying between 101 percent and 135 percent. Meanwhile, Godrej Properties, Phoenix Mills, Oberoi Realty, Indiabulls Real Estate and Sunteck Realty also jumped between 26 percent and 89 percent each. On the other hand, in the Nifty Energy index, NTPC was the top-performing stock, up over 80 percent in the last one year, followed by Indian Oil, Tata Power, GAIL, and ONGC, up over 50 percent each.

(Reuters) — The New York Stock Exchange (NYSE) has withdrawn from the Securities and Exchange Commission a proposal to create a new tradeable asset class called «natural asset companies», or NACs, the commission said on Wednesday.

Tata Communications’ profit for the quarter ended December 2023 fell by 88% to ₹45.1 crore compared to the year before, missing estimates, as it provisioned for the impact of the Supreme Court judgment on treating licence fee paid to the government as capital expenditure instead of revenue expenditure for calculating taxes. “Even though the company is not a party to the above judgment and its case is different and distinguishable from the above judgment, as a matter of prudence the company has assessed and recorded a provision of ₹185.52 crore towards interest which has been disclosed as an exceptional item and a provision of ₹21.09 crore towards tax (net) due to change in effective tax rate on account of adoption of new tax regime," the enterprise connectivity provider said Thursday. The telecom player also accounted for deferred tax on refunds it received from pending tax litigations with the government, said MD and CEO A.S.

Mint. “Since obtaining the PA licence, we have already onboarded over 25,000 accounts (or merchants) that were pending for the past 12 months. With expectations of 45,000 to 50,000 monthly merchant leads going forward, we are confident of a sustained growth of our platform," he added. When there were no new business/merchants coming onto its payments platform due to the regulatory ban, the once-profitable Cashfree—which claims to have about 3-4 lakh merchant base—said it invested more time developing new products and building new lines of businesses.

EPACK Durable IPO: The mainboard initial public offering (IPO) of air conditioner (AC) manufacturer EPACK Durable will open for subscription tomorrow, January 19, 2024. The company is the second largest room air conditioner (RAC) original design manufacturer (ODM) in India in terms of the number of units (indoor + outdoor) manufactured in fiscal 2023 through the ODM route, according to EPACK Durable's red herring prospectus (RHP).