Enterprise Financial News

Bloomberg reported. The company is selling a $20-a-month consumer version of Copilot, with access to OpenAI's latest ChatGPT technology and image-creation features, said Redmond in an official statement. Consumers with a cloud subscription to Office will be able to use Copilot to help answer questions, summarize data, and create content in Word, Outlook, Excel, and PowerPoint.

F&O ban list: A total of fifteen stocks have been put under the ban for trade on Tuesday, January 16, 2024, under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as it crossed 95 per cent of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.

Microsoft on Monday said consumers and small businesses can buy subscriptions to access more capabilities in its artificial intelligence "Copilot," as it moves to grow sales beyond large enterprises. After introducing a free AI Copilot for its Bing search engine last year, Microsoft will offer what it calls Copilot Pro to individuals for $20 a month.

By Jeffrey Dastin

Competition Commission of India (CCI) on Monday cleared Seventy Second Investment Company's proposed stake acquisition in Manipal Health Enterprises. The deal has been approved under the green channel route. Manipal Health Enterprises operates a network of hospitals providing multi-specialty care.

Reserve Bank of India (RBI) to give some relief to mainstream banks and development financiers on downstream loan-linked Alternative Investment Fund (AIF) exposures, which they were required to either liquidate by later this week or totally provide for in compliance with the central bank’s December 19 prudential directive. Non-banking financial companies (NBFC), however, are unlikely to be provided any relief by the RBI, with industry sources saying the primary goal of the original directive was to de-risk AIF exposures of NBFCs with downstream loan relationships with AIF beneficiaries, and prevent potential evergreening of doubtful advances to struggling corporates. “The RBI is unlikely to provide NBFCs exemptions on compliance, but banks and other financial institutions are likely to get relief,” said a banking industry source close to the development. January 18 is the liquidation deadline for under-scanner AIF exposures by banks, NBFCs, and development financial institutions (DFI), which primarily advance funds to MSMEs. A spokesperson at the RBI did not respond to ET’s requests for comment. Data compiled by the capital-markets regulator, the Securities and Exchange Board of India (Sebi), showed that funds raised by AIFs have risen to Rs 3.74 lakh crore by the end of FY23, from Rs 2.30 lakh crore in FY20.

RBI) has eased the credit concentration risk norms for non banking finance companies (NBFCs) in the middle layer (ML) and base layer (BL) bringing them on par with their larger peers or upper layer (UL) NBFCs. In new directions effective immediately, exposures to state and central governments, security deposits of borrowers held as collateral and national credit guarantee schemes among others have been exempted from concentration limits allowing NBFCs to reduce their concentration risk. In a notification on its website, the RBI said that NBFC exposure to the central government, state governments which are eligible for zero percent risk weight under capital regulations, exposures where the principal and interest are fully guaranteed by the government of India will be among those that are exempt from concentration limits. Cash margin or security deposit held as collateral on behalf of the borrower against the advances, central government guaranteed claims which attract 0% risk weight for capital computation and state government guaranteed claims which attract 20% risk weight for capital computation can also now be offset with the NBFC ML exposures. Also, guarantees issued under the Credit Guarantee Schemes of Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), Credit Risk Guarantee Fund Trust for Low Income Housing (CRGFTLIH) and individual schemes under National Credit Guarantee Trustee Company Ltd (NCGTC) will also be allowed to be exempt from NBFC ML exposure. Also now the exposures where NBFCs have exceeded the prudential exposure limits during the year will be required to be disclosed in the notes to accounts in the annual financial statements, RBI said.

Bandhan Bank, Bharat Heavy Electricals (BHEL), Chambal Fertilizers & Chemicals, Delta Corp, Escorts Kubota, Hindustan Copper, The India Cements, Indus Towers, Metropolis Healthcare National Aluminium Company, Piramal Enterprises, Polycab India, PVR Inox, Steel Authority of India (SAIL) and Zee Entertainment Enterprises (ZEEL). Indian Energy Exchange (IEX) has moved out of the ban. The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban is reversed only if the open interest falls below 80%. Traders who trade in indices do not encounter a situation of security ban. The MWPL for Bandhan Bank stood at 89.3% on Friday with OI reported by Trendlyne at 99.6 million.

IPOs Next Week: The primary market witnessed some major listings in both main board and small- and medium-sized enterprise (SME) segments last month, which kept investors engaged with subscriptions and listings. Moving on, the second week of January sees strong market buzz - similarly packed with new listings and initial public offering (IPO) issues, that are available for subscription. In the primary market during the period 6-13 January, the mainboard IPO of Jyoti CNC opened to raise ₹1,000 crore.

ALSO READ: Hewlett Packard Enterprise in talks to buy Juniper Networks in $13bn deal: Report HS Code 8471 includes products related to automatic data processing machines and units. It includes a mouse, printers, scanners, and CD drives.

HANOI — Vietnam is set to achieve a 6% growth in its gross domestic product (GDP) for the year 2024, a target that aligns with the projections made by HSBC and the expectations of the National Assembly. The Southeast Asian nation is experiencing an economic upswing, buoyed by substantial foreign direct investment (FDI) inflows, which saw $36.6 billion registered and $23.2 billion implemented in the preceding year.

Even the deepest pockets have their limits. Amazon and Google-parent Alphabet sit on a combined $184 billion in cash and short-term investments. Those two, along with big tech peers Microsoft, Apple and Facebook-parent Meta Platforms, hold the highest such balances among nonbanking companies on the S&P 500, according to data from S&P Global Market Intelligence.

Adani Enterprises on Friday received Letter of Award(LoA) from Solar Energy Corporation of India for setting up manufacturing capacity for Electrolysers in the country under the Strategic Interventions for Green Hydrogen Transition Scheme. The incentive to be allocated over five years from the scheduled commissioning date is Rs 293.78 crore. Twenty companies including Reliance Industries, Adani Group, Jindal India, Larsen & Toubro and Bharat Heavy Electricals submitted bids for incentives to manufacture electrolysers, statements from Solar Energy Corp of India said last year. In July, India invited pilot bid to incentivise production of green hydrogen and manufacturing of electrolysers.

Also Read- HAL, BEL, BDL: 4 fundamental factors that keep 2024 outlook firm for Defence PSU With decreasing margin of safety, they have downgraded Dr Reddy's to Underperform Ratings. They have upgraded Torrent to Buy from Hold on attractive valuations relative to peers.

Rajshree Sugars & Chemicals Ltd.(up 2.30%), Kothari Sugars & Chemicals Ltd.(up 1.75%), Bannari Amman Sugars Ltd.(up 0.78%), Triveni Engineering & Industries Ltd.(up 0.34%), Mawana Sugars Ltd.(up 0.27%), EID Parry(India)Ltd.(up 0.22%) and Uttam Sugar Mills Ltd.(up 0.08%) stood among the top gainers. DCM Shriram Industries Ltd.(down 2.47%), Ponni Sugars(Erode)Ltd.(down 1.53%), Simbhaoli Sugars Ltd.(down 1.39%), Avadh Sugar & Energy Ltd.(down 1.27%), KCP Sugar & Industries Corporation Ltd.(down 0.97%), Magadh Sugar & Energy Ltd.(down 0.94%), Bajaj Hindusthan Sugar Ltd.(down 0.90%), Balrampur Chini Mills Ltd.(down 0.84%), Dalmia Bharat Sugar and Industries Ltd.(down 0.38%) and Dhampur Sugar Mills Ltd.(down 0.38%) were among the top losers of the day.

Shares of Macrotech Developers Ltd.(up 6.69 per cent), Swan Energy Ltd.(up 3.75 per cent), Brigade Enterprises Ltd.(up 3.09 per cent), Phoenix Mills Ltd.(up 2.3 per cent) and Sobha Ltd.(up 1.58 per cent) ended the day as top gainers in the pack. On the other hand, Oberoi Realty Ltd.(down 0.49 per cent) finished as the top losers of the day.

Simplilearn has appointed Veerasundar V as its chief financial officer, the edtech firm said in a statement on Friday. Veerasundar has experience in maximising enterprise value through strategic financial management and supporting business transformation. He has previously played crucial roles in supporting industry-leading growth, implementing business processes, managing fundraises, overseeing public listings, providing exit to private equity firms and collaborating with external consultants for business transformation. In his previous stints, he has worked at CSS Corp, Quest Global and Intel. «Veerasundar's extensive financial expertise aligns seamlessly with our commitment and support to continued expansion.

Zee Entertainment Enterprises Ltd. traded 0.11 per cent up at Rs 251.6 at 10:41AM (IST) on Friday, even as BSE benchmark Sensex gained 622.39 points to 72343.57. The scrip had closed at Rs 251.3 in the previous session.

Chamath Palihapitiya announced on social media platform X, the launch of 8090, a new incubator fully funded by him, to help enterprise software startups get off the ground. «Tell us what enterprise software you use and my team and I will build you an 80% feature complete version at a 90% discount,» his post read.

Bandhan Bank, Bharat Heavy Electricals (BHEL), Delta Corp, Escorts Kubota, Hindustan Copper, Indian Energy Exchange (IEX), The India Cements, Indus Towers, National Aluminium Company, Piramal Enterprises, Polycab India, PVR Inox and Steel Authority of India (SAIL) and Zee Entertainment Enterprises (ZEEL). Balrampur Chini and Chambal Fertilizers have moved out of the ban. The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%. Traders who trade in indices do not encounter a situation of security ban. The MWPL for Bandhan Bank stood at 91.4% on Thursday with OI reported by Trendlyne at 101.1 million.

Sensex climbed 63 points to settle at 71,721, while the Nifty gained 28 points to end at 21,647. Stocks that were in focus included names like HCL Tech, which rose 0.02%, SBI Life, which fell 1.48%, and Apollo Hospitals, whose shares jumped 1% on Thursday. Here's what Avdhut Bagkar, Derivatives & Technical Analyst at StoxBox, recommends investors should do with these stocks when the market resumes trading today.