Enterprise Financial News

Jindal Stainless (JSL) has soared the most, over 130 percent, followed by Welspun Corp, which rallied 124 percent in 2023 YTD. The surge in JSL comes on the back of exceptional earnings performance. In the September quarter, the company's net profit rose 120 percent to ₹764 crore against a net profit of ₹347 crore in the September 2022 quarter.

The dedication ceremonies were held on 6th November in Bangalore and 8th November in Hyderabad. In attendance, among many leaders from both companies, were Accenture’s Brian McKillips, Senior Managing Director and Growth and Strategy Lead for Enterprise and Industry Technologies; Raghavan Iyer, Senior Managing Director, Accenture Advanced Technology Centers; Sanjeev Narsipur, Managing Director, Accenture’s Enterprise & Industry Technologies group; Steve Ambo, Managing Director and Lead of the Blue Yonder practice at Accenture; and Blue Yonder’s Chief Executive Officer Duncan Angove and Chief Technology Officer Salil Joshi, who all helped cut the ribbons on the two new centers.

Swan Energy Ltd.(up 1.76 per cent), Sobha Ltd.(up 1.08 per cent), Phoenix Mills Ltd.(up 0.64 per cent), Prestige Estates Projects Ltd.(up 0.6 per cent) and Brigade Enterprises Ltd.(up 0.56 per cent) were among the top gainers. Oberoi Realty Ltd.(down 0.22 per cent) and DLF Ltd.(down 0.07 per cent) were the top losers on the index.

debt management remains a major issue for these organisations' growth and viability. B2B debt is common in SMEs due to credit sales, late payments, and long credit terms with clients and suppliers.

Varun Beverages share price rallied over 17% to hit a fresh 52-week high on Wednesday after the company announced the acquisition of South Africa’s Bevco, which analysts believe to be a good value creation opportunity. Varun Beverages shares jumped as much as 17.78% to a 52-week high of ₹1,380.45 apiece on the BSE. One of the largest franchise bottlers of PepsiCo in the world, Varun Beverages announced that its board of directors approved the acquisition of 100% stake in South Africa’s The Beverage Company Ltd (BevCo) with plans to expand its geographical footprint in Africa.

Balrampur Chini, Delta Corp, Indus Towers, IRCTC, Manappuram Finance, National Aluminium Company (NALCO), Piramal Enterprises (PEL), RBL Bank, Zee Entertainment Enterprises (ZEEL) and Steel Authority of India (SAIL). 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.

merger still hangs in the balance. Sony Pictures Networks India (SPNI) Tuesday said it hasn't yet decided on extending the Thursday, December 21, deadline to complete the merger with Zee Entertainment Enterprises Ltd (ZEEL).

F&O ban list: A total of ten stocks have been put under the ban for trade on Wednesday, December 20, 2023, 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.

Nine more banks have joined China’s digital yuan pilot, bolstering the number of banks offering CBDC wallets to 60.

startups, young minds come together and manifest how creativity, innovation, and hard work can transform the way they work across various industries in the country. Startups are buzzing with ideas and energy, reflecting the optimistic outlook of the nation.

NEW DELHI : Meta, the parent firm of Facebook, Instagram and WhatsApp, is piloting new generative artificial intelligence (AI) products, including a creator suite that was announced globally on 4 October. Sandhya Devanathan, vice-president and country head of Meta India, said in an interview that the pilot is also active in India now, albeit as a “large pilot" made available to select creators right now.

RBI) is considering the change on the suggestions of banks, which believe that chances of making recoveries are higher if a dialogue is started at an early stage, the people cited above said on the condition of anonymity. The wilful defaulter tag shuts out borrowers from the formal banking sector. Finance ministry officials who met some of India’s top bankers recently also favour such flexibility, rather than sending all such accounts into a protracted legal process, the people cited above said.

Elon Musk will now square off in the emerging satellite broadband segment in India. The three are preparing commercial launches following the government’s decision to allocate spectrum administratively and putting it in the new telecom bill. Bharti Group-backed OneWeb, Reliance’s Jio Satellite Communications and Musk’s Starlink would be the key companies in the space, having received global mobile personal communication by satellite (GMPCS) licences.

Varun Beverages Ltd (VBL), one of PepsiCo’s largest franchise bottlers worldwide, announced the acquisition of South Africa-based Beverage Company (Bevco) along with its wholly-owned subsidiaries at an enterprise value of Rs 1,320 crore, on Tuesday. The proposed transaction is valued at an enterprise level of ZAR 3 billion (Rs 1,320 crore) and will help it expand its geographical footprint in the African market, the company said in a stock exchange filing. BevCo, which has franchise rights from PepsiCo Inc, in South Africa, Lesotho and Eswatini, manufactures and distributes licensed PepsiCo and own-branded non-alcoholic beverages in South Africa.

finance ministry on Tuesday said tax reforms, a sharp hike in capital spending “without weakening fiscal discipline” and robust public digital infrastructure are among a raft of steps initiated by the Modi government that would help India emerge as a $5-trillion economy. In a written reply in the Rajya Sabha, minister of state for finance Pankaj Chaudhary said India is projected to become the third-largest economy in FY28 with a gross domestic product (GDP) of $5 trillion (from about $3.7 trillion in FY23), citing the International Monetary Fund’s forecast. Taxation measures “Direct tax measures such as the restructuring of the corporate tax rates, reduced tax litigation and removal of tax uncertainties have considerably reduced the compliance burden and resulted in high growth of revenues,” he said. Similarly, indirect tax measures include the implementation of Goods and Services Tax (GST), which has realised the goal of the One Nation, One Tax and OneMarket, expanded formalisation of the economy and ensured a high collection of GST revenue, Chaudhary added. The sharp hike in the government’s capital expenditure—from Rs 4.1 lakh crore in FY21 to the budgeted Rs 10 lakh crore in FY24 (BE)—has supported growth and also initiated the crowding-in of private sector investment, he said.

Some of the newest technology and some of the oldest pillars of wealth management are among the essential trends for advisor growth in 2024, according to Envestnet.

Vivaad Se Vishwas scheme which was launched this year to settle contractual disputes and claims of Micro Small and Medium Enterprises and (MSMEs) who failed to comply with central government contracts during Covid period, Finance Ministry said Tuesday. The centre has received over 900 claims worth Rs. 20,000 crore under the Vivaad Se Vishwas scheme (II) for contractual disputes out of which it has settled claims worth Rs.

₹341 crore), Temasek ( ₹328 crore), a local Thai partner ( ₹11.9 crore) and local debt. The consideration implies an acquisition valuation of 0.9 times FY23 enterprise value/sales and about 7.5-8 times EV/Ebitda. Quick-service restaurants (QSRs) in the Indian market are currently struggling to boost growth.

Zee Entertainment Enterprises (ZEEL) fell nearly 5% to the day's low of Rs 267.15 on NSE on Tuesday after Sony Pictures Networks India (SPNI) said that it has not yet agreed to a deadline extension requested by ZEEL for their merger, and is looking forward to knowing how the latter planned to complete the remaining critical closing conditions. The news did not go down well with the investors as significant selling pressure was seen on the counter. At 1:50 pm, over 2.59 crore shares changed hands on the NSE.

satcom, a new way to access the internet as opposed to the traditional telecom networks. The differences over how companies get spectrum has divided the industry. Many want the government to allocate spectrum while others want it to auction it.

Kapture CX, a customer support platform for enterprises, has raised $4 million from India Alternatives, a private equity fund. The Bengaluru-based startup has been expanding on-ground operations in five countries: the US, the UAE, Indonesia, Saudi Arabia and India.