Enterprise Financial News

Zee Entertainment Enterprises lost nearly 5 percent in intraday trading on Tuesday following a report by Mint indicating that Sony Pictures is unlikely to extend the timeline for the $10 billion merger of its India Business with Zee. The development puts the country's largest-ever entertainment deal on the brink of collapse after enduring months of discussions, particularly concerning the appointment of a CEO for the combined entity. The uncertainty surrounding the merger's fate has added to the ongoing challenges and debates within the companies involved.

₹12,370 crore to a staggering ₹7.5trillion by end FY23. This growth trajectory has been anchored by the Alternative Investment Fund (AIF) guidelines introduced in 2012, which standardized the industry across various categories and led to an impressive ₹7.6 trillion in cumulative commitments by mid-2023.

HCL Technologies and Persistent Systems considering the recent rally in these stocks. The brokerage firm believes the recent strong rally limits further upside in select stocks in the IT sector. HCL Tech share price has gained nearly 11 per cent while Persistent Systems share price has gained over 9 per cent in December so far.

Sandur Manganese & Iron Ores(up 7.09%), Gujarat Mineral Dvpt Corporation(up 3.42%), Coal India(up 1.34%), Orissa Minerals Development Company(up 0.95%), Oriental Trimex(up 0.51%), Aro Granite Industries(up 0.20%) and Pokarna(up 0.06%) were among the top gainers. Ashapura Minechem(down 2.65%), Madhav Marbles and Granites(down 1.33%), 20 Microns(down 1.29%), NMDC Ltd(down 1.23%), KIOCL(down 1.15%), MOIL(down 0.64%) and Lexus Granito(down 0.26%) were among the top losers.

Orient Green Power Company(up 2.67%), Power & Instrumentation(Gujarat)(up 2.54%), GE Power India Limited(up 1.44%), Jaiprakash Power Ventures(up 0.71%), NTPC(up 0.56%), Voltamp Transformers(up 0.53%), Reliance Power(up 0.42%), Transformers and Rectifiers(India)(up 0.35%), KEC International(up 0.17%) and Power Grid Corporation of India(up 0.06%) were among the top gainers. Energy Development Company(down 5.01%), KPI Green Energy(down 3.66%), CESC(down 2.81%), SJVN(down 2.31%), Suzlon Energy(down 1.98%), PTC India(down 1.50%), DPSC(down 1.50%), Tata Power Company(down 1.47%), NHPC(down 1.45%) and Alstom T&D India(down 1.44%) were among the top losers.

Sony Pictures Networks India (SPNI) has said that it has not yet agreed to extend the deadline to complete the merger deal with Zee Entertainment Enterprises Limited (ZEEL). In a statement, the company said it looks forward to hearing ZEE’s proposals and how they plan to complete the remaining critical closing conditions. “ZEE’s notice to the Bombay Stock Exchange and the National Stock Exchange of India dated December 17 is an acknowledgement that they will not be able to meet the December 21, 2023 deadline to close the SPNI/ZEE merger," the SPNI statement reads. It added that the notice triggers an existing contractual provision in the deal that allows for both parties to discuss the possibility of extending the deadline. «SPNI is required to start those conversations but has not yet agreed to a deadline extension.

Adani Group and Icahn Enterprises Inc. have rounded out another remarkable year for activist short seller Hindenburg Research. The US firm kicked off 2023 with allegations of accounting fraud and stock manipulation against Indian billionaire Gautam Adani’s conglomerate that led to a market value erosion of more than $150 billion at one point.

₹3,100 crore from the primary market. In addition to these, three small and medium enterprise (SME) IPOs will also be available for subscription, presenting investors with compelling investment opportunities in the market. Also Read: DOMS IPO allotment declared: GMP, how to check status as focus shifts to listing date Here are key details about the IPOs open today: The IPO of real estate construction company, Suraj Estate Developers, opened for public subscription on December 18 and will close on Wednesday, December 20.

Zee Entertainment Enterprises Ltd. This brings the country’s largest-ever entertainment deal to the brink of collapse after months of debate over the appointment of a chief executive officer (CEO) for the merged entity. Two persons aware of Sony’s plans confirmed this on condition of anonymity.

cybersecurity and want a multi-layered and comprehensive “secure-by-design kind of model to be put in place”, the chief technology officer of Hewlett Packard Enterprise India said. “Earlier it was more like a support mode kind where you had some peripheral security, cybersecurity elements being placed. Today we are having very mature conversations with customers. Organisations are now thinking how to put people, processes and technology together and monitor that constantly,” Sadasiva Ranganath told ET in an interview.

Sapphire Foods In Sapphire Foods, promoter group entities – Sapphire Foods Mauritius and Samara Capital sold stakes in the company through the open market. Archean Chemical Industries Archean Chemical Industries, Piramal Enterprises sold 3.4% stake through the open market for around Rs 252 crore. PNC Infratech The company has been declared Ll (first lowest) bidder in a Madhya Pradesh Road Development Corporation's (MPRDC) highway project. Read more: Here's the trade setup for today's session Nestle Nestle India has fixed January 5 as the record date to determine eligible shareholders for the stock split announced by the company in October. NHPC A Board meeting of NHPC is scheduled to be held on December 22 to consider the proposal regarding monetization of future cash flow of one or more power station(s) of the company for suitable tenure. Sun Pharma Sun Pharma has entered into agreement to acquire 16.7% shares on a fully diluted basis, in Lyndra Therapeutics engaged in the business of developing novel delivery technology for long-acting oral (LAO) therapies.

About a third of these purchases, or worth about Rs 46,013 crore, were from the micro, small and medium enterprises this fiscal, minister of state for finance Pankaj Chaudhary said in a written reply to the Lok Sabha. The government has raised the mandatory minimum purchases from MSMEs by various government departments and CPSEs to 25% from 20% earlier, the minister said. It then tightened the monitoring of the compliance of the rule in a bid to support these small players. The total purchases by CPSEs through the GeM platform had exceeded the Rs 1-lakh-crore mark for the first time in FY23. The government had launched the GeM portal in August 2016, as it wanted to enhance transparency in purchases of various goods and services by all ministries, departments and public-sector firms and state governments, in addition to providing a modern platform for official procurement.

Explore Wall Street's expert insights with this ProResearch article, which will exclusively be available to InvestingPro subscribers soon. Enhance your investment strategy with ProPicks, our newest product featuring strategies that have outperformed the S&P 500 by up to 700%. This Cyber Monday, enjoy up to 60% off, plus an extra 10% off a 2-year subscription with the code research23 , reserved for the first 500 quick subscribers. To ensure ongoing access to valuable content like this, step up your investment game with InvestingPro.

BEIJING (Reuters) -China's economy is expected to see more favourable conditions and more opportunities than challenges in 2024, state media said citing officials of the Chinese Communist Party's finance and economy office.

On the BSE, Angel Fibers(down 14.57 per cent), Enterprise Intnl(down 10.57 per cent), East West Holdings(down 9.85 per cent), Arnold Holdings(down 8.73 per cent) and SRG Housing Fin(down 8.02 per cent) stood among the top losers in today's trade. In the Nifty pack, 19 stocks closed in the green, while 31 stocks ended in the red.

United States Steel Corporation (NYSE:X), commonly known as U.S. Steel, is being acquired by Nippon Steel, the two companies confirmed today.

IndusInd Bank and IT companies such as Infosys. Meanwhile, among the top picks are also Hero MotoCorp, Piramal Enterprises, and Zomato (being a new addition to the list). Going ahead, the brokerage predicts a turning point in the rate cycle, with the Fed's dovish comments indicating three rate cuts in CY24.

Zee Entertainment Enterprises Ltd. gained 0.39 per cent to Rs 278.45 in Monday's session as of 02:11PM (IST) even as the equity benchmark Sensex traded 139.88 points lower at 71343.87. Earlier in the day, the stock witnessed a gap down start to the session.

Sony group's Indian arm Sony Pictures Networks India (now known as Culver Max Entertainment) and Zee Entertainment Enterprises Ltd. is likely to be put off by several months.

private equity investor InvAscent, through India Life Sciences Fund IV, has invested $10 million to acquire a minority stake in ABI Health Technologies Private Limited Ltd, a health-tech Software as a Service (SaaS) company headquartered in Bangalore. Founded in 2018 by Ajit Veerappan, ABI is a health-tech SaaS business which provides technology solutions to hospitals and diagnostic Labs. The company’s product, ClaimBook, helps a hospital to automate its entire health insurance claims management process, improving revenue cycles while reducing revenue leakage.

However hard it is, the market-coming-of-age of many of those co-founders took years, under the shadow of the lead founder. Many of them took a chance at the CEO role. Many critics even argue that some of them needed that CEO tag to affirm their presence.