Enterprise Financial News

P & G Hygiene(up 1.86%), Bikaji Foods International(up 1.64%), Bajaj Consumer(up 1.31%), Dodla Dairy(up 0.80%), Gillette India(up 0.72%), Nakoda Group(up 0.51%), Colgate Palmolive(India)(up 0.45%), TATA CONSUMER PRODUCTS(up 0.45%), Dangee Dums(up 0.42%) and Zydus Wellness(up 0.29%) stood among the top gainers. JHS Svendgaard Laboratories(down 3.27%), Parag Milk(down 2.39%), Nestle India(down 1.72%), ADF Foods(down 1.67%), Vadilal Industries(down 1.64%), Dabur India(down 1.42%), Emami(down 1.08%), Mrs Bectors Food Specialities(down 0.98%), Euro India Fresh Foods(down 0.93%) and Britannia Industries(down 0.66%) were among the top losers of the day.

Bharat Electronics Ltd (BEL) share price surges 3.26% to ₹169.35 per share on Friday, December 15, after the company bagged a mega defence order. The Ministry of Defence has entered into a significant agreement with BEL, Pune, for the acquisition of electronic fuzes for the Indian Army over a 10-year period, with a total investment of ₹5,336.25 crore. Aligned with the 'Aatmanirbhar Bharat' vision, this contract is established for the procurement of ammunition under the 'Manufacture of Ammunition for Indian Army by Indian Industry' initiative.

The Pradhan Mantri Mudra Yojana (PMMY) is one of the flagship schemes of the Union government to encourage self-employment. Under PMMY, collateral-free institutional credit up to ₹10 lakh is provided by Member Lending Institutions (MLIs) i.e. Scheduled Commercial Banks (SCBs), Regional Rural Banks (RRBs), Non-Banking Financial Companies (NBFCs) and Micro Finance Institutions (MFIs). 

Zee Entertainment Enterprises Limited (ZEEL) and Culver Max Entertainment (formerly known as Sony Pictures India), according to a Moneycontrol report. It was hearing an appeal by Axis Finance and IDBI Bank who have challenged the merger in the tribunal. The next hearing has been listed for January 8, 2024.

₹108.30 apiece on the back of profit booking. The stock was listed on the Indian exchanges on November 29 at a price of ₹60 apiece, an 87.5% premium over the issue price of ₹32. It continued the same upward trajectory for the next 11 sessions, achieving a record high of ₹123.30 apiece.

Also Read: PBOC's bold move: Injects $112 billion lifeline amid economic challenges The People's Bank of China (PBOC) said it was keeping the rate on 1.45 trillion yuan ($203.97 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions unchanged at 2.50% from the previous operation. With 650 billion yuan worth of MLF loans set to expire this month, the operation resulted in a net 800 billion yuan fresh fund injection into the banking system in December, booking the biggest monthly increase on record, Reuters reported.

media deals in India are giving the likes of Unilever Plc and Procter & Gamble Co. a reason to worry: If entertainment goes the way of telecom and ends up effectively as a duopoly, will it become costlier for large consumer brands to reach 1.4 billion people? The first of these two transactions may come as early as Monday and would see Walt Disney Co. enter into a non-bidding agreement with Mukesh Ambani to merge their media businesses in the country.

EID Parry(up 1.36%), Kothari Sugars & Chemicals(up 0.86%), Dalmia Bharat Sugar & Industries(up 0.83%), Mawana Sugars(up 0.68%), Balrampur Chini Mills(up 0.65%), Vishwaraj Sugar Industries(up 0.61%), Ponni Sugars(Erode)(up 0.58%), Triveni Engineering & Industries(up 0.52%), Bannari Amman Sugars(up 0.51%) and MAGADHSUGAR(up 0.47%) were among the top gainers. KCP Sugar & Industries(down 1.13%), Simbhaoli Sugars(down 1.08%), Sakthi Sugars(down 0.72%), Dwarikesh Sugar Industries(down 0.69%), DCM Shriram Industries(down 0.69%), Uttam Sugar Mills(down 0.45%), BAJAJHIND(down 0.36%) and K.M.Sugar Mills(down 0.16%) were among the top losers.

Texmaco Rail & Engineering, the engineering and infrastructure company, rallied 10.7% in Friday's early trade to reach an all-time high of ₹188.80 apiece, driven by the company's new order win. The Ministry of Railways has awarded an order to the company for the manufacturing and supply of 3,400 BOXNS waggons valued at ₹1,374.41 crore, the company informed through an exchange filing on Thursday. Also Read: Sensex surging: Will this be the new normal? The company operates in the business of manufacturing rolling stock, including wagons, coaches, EMUs, loco shells and parts, hydro mechanical equipment, steel castings, rail EPC, bridges, and other steel structures.

Oriental Trimex(up 19.88%), Sandur Manganese & Iron Ores(up 3.04%), NMDC Ltd(up 1.59%), Ashapura Minechem(up 1.09%), Aro Granite Industries(up 0.79%), Coal India(up 0.53%) and 20 Microns(up 0.28%) were among the top gainers. Gujarat Mineral Dvpt Corporation(down 1.05%), Pokarna(down 0.67%), MOIL(down 0.64%), Madhav Marbles and Granites(down 0.47%), Orissa Minerals Development Company(down 0.20%) and Lexus Granito(down 0.13%) were among the top losers.

Brigade Enterprises Ltd.(up 4.02 per cent), Swan Energy Ltd.(up 2.86 per cent), Sobha Ltd.(up 1.57 per cent), Phoenix Mills Ltd.(up 0.45 per cent) and DLF Ltd.(up 0.18 per cent) were among the top gainers. Prestige Estates Projects Ltd.(down 2.7 per cent), Macrotech Developers Ltd.(down 1.15 per cent), Godrej Properties Ltd.(down 1.02 per cent) and Oberoi Realty Ltd.(down 0.32 per cent) were the top losers on the index.

Adani Ports and Special Economic Zone Ltd (APSEZ) on Friday announced that it has entered into a second strategic partnership with Mediterranean Shipping Company's (MSC) arm, Terminal Investment Limited (TiL), for the operation of Adani Ennore Container Terminal Pvt Ltd (AECTPL). Notably, TiL is an associate of MSC, the world’s largest container shipping line. The company through its subsidiary Mundi Ltd is set to acquire a 49 per cent in AECTPL from APSEZ for Rs 247 crore.

On the BSE, City Pulse Multiplex(down 14.92 per cent), SVS Ventures(down 8.04 per cent), Veerkrupa Jewellers(down 6.34 per cent), Kama Holdings(down 6.34 per cent) and Modipon Ltd(down 6.15 per cent) were among the stocks that plunged over 5 per cent during the session. In the Nifty pack, 41 stocks traded in the green, while 9 stocks traded in the red.

Delta Corp, Hindustan Copper, Indiabulls Housing Finance, The India Cements, Manappuram Finance, Zee Entertainment Enterprises (ZEEL) and Steel Authority of India (SAIL). National Aluminium Company is 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.

₹70.5 trillion of wealth in the Indian stock market. Interestingly, these 100 wealth creators generated wealth at 21% CAGR. The pace was way higher than the BSE Sensex return of 12%.

Like over-caffeinated college students, Sultan Al Jaber, John Kerry and other CoP-28 delegates pulled an all-nighter to turn what could have been an ‘F’ grade on a global climate deal into a respectable ‘C.’ Still, in their scramble to produce a historic pact, they left a glaring omission that could doom the whole enterprise in the longer run. They ignored the money constraint. Give credit where it’s due: The end product of this year’s UN climate conclave, an agreement that the world needs to stop using fossil fuels, was the first of its kind and a drastic improvement over most CoPs, which are usually failures.

NEW DELHI : Goods and services procurement through the government e-market (GeM) portal is poised to reach ₹3.5 trillion by the end of this fiscal year, driven by heightened buying activities across ministries and government departments, a senior official said. In FY23, the procurement value stood at ₹2 trillion, surpassing the ₹1.06 trillion in the previous financial year. In FY24, it is estimated to cross ₹3.5 trillion, GeM chief executive P.K.

Adesh Kumar Gupta has decided to quit as the non-executive, non-independent director of entertainment giant Zee Entertainment Enterprises Limited (ZEEL) ahead of the company's annual general meeting (AGM) on December 16. In a stock market filing, the company said it had received a letter from Gupta informing it of his intention not to continue as a director of the company after the AGM. ZEEL added that Gupta will cease to be a member of the Audit Committee and the chairman of the Risk Management Committee and Stakeholders Relationship Committee of the board after the AGM. Gupta was appointed as a non-executive director at the AGM held in 2022 and is liable to retire by rotation. ? «I have communicated from time to time that owing to personal reasons and commitment, I regret that I will not be able to continue as the director of the company after the ensuing Annual general Meeting (AGM),» Gupta said in a letter to the ZEEL board. ZEEL's FY23 annual report states that one of the ordinary businesses that will be transacted at the AGM is to appoint a director in place of Gupta, who retires by rotation and, being eligible, offers himself for re-appointment. «Accordingly, I withdraw my re-appointment as director of the company at the AGM,» Gupta said, adding, «I wish a great success to the company and hope the pending merger with Sony will be completed at earliest.

Adobe Systems (NASDAQ:ADBE) shares dropped more than 6% pre-market Thursday after the company reported FQ4 results and offered guidance.

On the BSE, PI Industries(down 10.02 per cent), Alexander Stamps(down 9.99 per cent), Inditrade Capital (down 9.71 per cent), Dipna Pharmachem(down 9.51 per cent) and Narbada Gems(down 9.00 per cent) stood among the top losers in today's trade. In the Nifty pack, 18 stocks closed in the green, while 31 stocks ended in the red.

The NSE Nifty index ended the session 90.7 points down at 20906.4, while BSE Sensex fell 377.5 points to 69551.03. In the Nifty index, HDFC Life Insurance Company Ltd.(up 5.18 per cent), UltraTech Cement Ltd.(up 1.99 per cent), Bajaj Auto Ltd.(up 1.89 per cent), SBI Life Insurance Company Ltd.(up 1.43 per cent) and Axis Bank Ltd.(up 1.30 per cent) stood among the top gainers.