Enterprise Financial News

BSE Midcap index closed 0.20 per cent higher at 37,081.58 while the BSE Smallcap index ended with a gain of 0.30 per cent at 43,103.61. (Exciting news! Mint is now on WhatsApp Channels.

₹71,253 crore in April-September. “That is the demonstration of everything that has happened this year, every distraction that has happened. We have just kept our heads down and focused on one thing we are good at.

Zee Entertainment Enterprises Ltd. traded 0.45 per cent up at Rs 288.55 at 01:39PM (IST) on Wednesday, even as BSE benchmark Sensex dropped 170.12 points to 72240.26. The stock had closed at Rs 287.25 in the previous session.

Balrampur Chini, Delta Corp, Hindustan Copper, Indian Energy Exchange (IEX), Steel Authority of India (SAIL) and Zee Entertainment Enterprises (ZEEL). 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 Balrampur Chini stood at 93.7% on Tuesday with OI reported by Trendlyne at 10.7. It was down by 8.4% from the previous session. The MWPL for Delta Corp stood at 117% on Tuesday with OI reported by Trendlyne at 22.9 million.

here.ONGC Videsh Ltd (OVL) is in talks with its Venezuelan partner to secure oil cargoes in lieu of unpaid dividends totalling $600 million, two people aware of the development said. This follows the US easing sanctions on Venezuela, where India’s overseas explorer has partnered state-owned Petróleos de Venezuela SA (PdVSA) for the San Cristobal project.Any oil flowing in from Venezuela holds significance for India, the world’s third largest oil buyer that once counted the Latin American country among its largest oil suppliers.A spokesperson for OVL confirmed in response to a query that the San Cristobal project owes dividends of around $600 million to the company.

Adani Enterprises, Adani Ports, Adani Wilmar, Adani Power, Adani Energy Solutions, Adani Green Energy, Adani Total Gas, ACC, Ambuja Cements, and NDTV. As Mint reported earlier, a bench comprising Chief Justice D Y Chandrachud and justices J B Pardiwala and Manoj Misra will deliver the judgement at 10:30 am on as many as four petitions. The judgement on the PILs was reserved on November 24, 2023.

Bank of Maharashtra Bank of Maharashtra's total business rose 19% year-on-year to Rs 4.35 lakh crore in the December quarter, compared with Rs 3.66 lakh crore. Hindustan Zinc Hindustan Zinc's mined metal production at 780kt in the third quarter, up 2% YoY, driven by improved mined metal grades. Birlasoft Birlasoft announced the appointment of Manjunath Kygonahally as Chief Executive Officer (CEO) for the Rest of the World (ROW) region. Read more: Here's the trade setup for today's session RVNL Rail Vikas Nigam Ltd JV received letter of award (LoA) for Rs 123 crore order to redevelop Varkala Sivagiri railway station. GVK Power The Competition Commission of India approved the acquisition of 100% shareholding of GVK Power by Punjab State Power Corporation. DMart Avenue Supermarts saw a double-digit growth in revenue for the third quarter of the current financial year, with the topline growing 17.2% year-on-year (YoY). VST Industries Radhakishan Damani has picked up an additional stake in VST Industries through bulk deals on Tuesday.

medicines produced by small companies in India failed to meet quality standards compared with the national average of about 2%, says a government report on a recent survey. In the government's latest risk-based inspections of micro, small and medium enterprises (MSMEs), which have been on since December 2022, of the 271 samples analysed, 41 (15.1%) were declared to be not of standard quality (NSQ), says the report, which has been reviewed by ET. A person in the know said 30% of the MSME units inspected were issued a stop production order (SPO). «A strong correlation has been seen between the NSQ and MSME units,» the person said. The Central Drugs Standard Control Organisation (CDSCO), along with state drug inspectors, has been carrying out inspections as part of a nationwide crackdown on spurious and substandard drugs. At present, phase IV of risk-based inspections is on. «Monthly NSQ data shows repeat failures for a company with the same product, and same product with multiple companies month-on-month,» another person said. India's drug regulator had earlier pointed to an urgent need to review the good manufacturing practices (GMP) regulations and quality management systems being followed by pharmaceutical companies during the inspections. In August last year, health minister Mansukh Mandaviya had announced that companies with a turnover of '250 crore and more will have to implement the revised GMP within six months. Medium and small-scale enterprises with a turnover of less than '250 crore will have to implement it within a year.

The numbers represent both an opportunity and a challenge: India has 63 million micro, small and medium enterprises (MSMEs), contributing almost a third of the country’s GDP and half of its exports, with an equal spread between rural and urban areas, that are mostly short of credit. Given the tailwinds behind India’s economy, the MSME sector will keep growing in size, especially as it is formalized. However, for the sector to reach its true potential, qualitative growth is important.

Zee Entertainment Enterprises Ltd (ZEEL), to deposit ₹61.64 crore, after it defaulted on loan repayments to Axis Finance. The order was delivered on 13 December, but was made public only on Tuesday. Axis Finance is a non-banking subsidiary of private lender Axis Bank.

upGrad on Tuesday said Subramanyam Reddy, the division head of its KnowledgeHut business, has quit the firm. Asheesh Sharma has taken over as president of the short courses and bootcamps division effective Tuesday, upGrad said in a statement.

As 2024 unfolds, Wedbush anticipates a transformative «Year of AI» poised to elevate tech stocks.

Bengaluru: Last month, The New York Times filed a suit against OpenAI and Microsoft, alleging that their generative artificial intelligence (AI) tools—ChatGPT and Bing Chat (now rebranded as Co-pilot)—were built by copying and “using millions of The Times’s copyrighted news articles, in-depth investigations, opinion pieces, reviews, how-to guides, and more". While GenAI has captured everyone’s imagination and will continue to mature in the years ahead, the suit underlines the need for stronger global guard rails. Apart from copyright violations, there are fears of machines acquiring human biases and GenAI vapourizing millions of white-collar jobs.

portfolios. Valuable investing lessons were gleaned, but regrettably, some faded over time. With the looming threat of the disease resurfacing, everyone must revisit the lessons learned during that challenging period and determine how to incorporate them into current investment decisions.

Shares of Prestige Estates Projects Ltd.(up 1.08 per cent), Godrej Properties Ltd.(up 0.69 per cent) and Mahindra Lifespace Developers Ltd.(up 0.29 per cent) ended the day as top gainers in the pack. On the other hand, Macrotech Developers Ltd.(down 3.6 per cent), Brigade Enterprises Ltd.(down 1.93 per cent), Swan Energy Ltd.(down 1.52 per cent), DLF Ltd.(down 1.34 per cent) and Sobha Ltd.(down 1.08 per cent) finished as the top losers of the day.

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Coal India Ltd (CIL) has kicked off 2024 with a bang. Shares of the mining major hit a new 52-week high for the second consecutive day on Tuesday.Fuelling the optimismis thecompany’s coal production and offtake numbers for April-Decemberreleased late Monday. Production rose 11% year-on-year to 531.9milliontonnes(mt)during theperiod, while offtakewas up 9% at 552mt.This drove CIL’s stock to a fresh 52-week highof ₹394.65apiece.

Motilal Oswal Financial Servicespointed out the seasonality is likely to hurt revenue growth and margin performances of both tier-1 and tier-2 IT companies. "The industry has not witnessed any meaningful change in spending patterns, as discretionary spending continues to pause enterprises. Although sentiment has improved, it has not yet been reflected in actions," Motilal Oswal said.

BSE PSU index, reflecting public sector enterprises' performance, surged by 55% in 2023, surpassing the 18.74% return of the benchmark BSE Sensex index. Also Read: From Mazagon Dock Shipbuilders to IRCTC, 7 of 8 PSU stocks listed over last 5 years gave multibagger returns The railway stocks have been on investors' radar ever since the government raised the capital outlay for the Indian Railways in the Union Budget 2023-2024. In addition, the new shipping and rail transportation corridor linking countries across the Middle East, South Asia, and Europe announced at the G20 summit also added momentum to railway stocks.

public sector and have been rewarded handsomely for their efforts. Public sector enterprises are leading the market capitalisation sweepstakes on specific government policies, and the expectation of policy continuity is fanning the exuberance. NTPC and Coal India have benefited from India's stand at climate talks that coal should not be singled out among fossil fuels for cutback commitments.

Bharti Airtel Services, a wholly-owned subsidiary of Bharti Airtel, has entered into an agreement for the acquisition of 49.45 lakh shares or 97.1 per cent stake in Beetel Teletech, another Bharti Group company, according to a filing. Pegging the cost of acquisition at Rs 669 crore, the filing said this acquisition is a part of the company's strategy to enable indigenisation initiatives within its own ecosystem of telecom products in line with the Government's policy of 'Make In India' and add distribution and service capabilities (including system integration) largely for the enterprise business.