Enterprise Financial News

Ashapura Minechem(up 3.49%), Pokarna(up 1.53%), Orissa Minerals Development Company(up 0.95%), Madhav Marbles and Granites(up 0.68%), Oriental Trimex(up 0.61%), Aro Granite Industries(up 0.39%), KIOCL(up 0.36%), Sandur Manganese & Iron Ores(up 0.26%), Gujarat Mineral Dvpt Corporation(up 0.18%) and Coal India(up 0.03%) were among the top gainers. Lexus Granito(down 1.24%), 20 Microns(down 0.93%) and MOIL(down 0.47%) were among the top losers.

EID Parry(up 4.65%), Mawana Sugars(up 2.28%), Ponni Sugars(Erode)(up 1.24%), KCP Sugar & Industries(up 0.94%), Simbhaoli Sugars(up 0.83%) and Dhampur Sugar Mills(up 0.17%) were among the top gainers. Balrampur Chini Mills(down 3.29%), Uttam Sugar Mills(down 2.66%), Triveni Engineering & Industries(down 2.14%), K.M.Sugar Mills(down 1.32%), DCM Shriram Industries(down 1.13%), Dalmia Bharat Sugar & Industries(down 0.96%), BAJAJHIND(down 0.92%), Dwarikesh Sugar Industries(down 0.82%), AVADHSUGAR(down 0.82%) and Shree Renuka Sugars(down 0.69%) were among the top losers.

Adani Group stocks extended to the fourth day as nine out of 10 stocks traded in the green with Adani Green Energy and Adani Total Gas rising by 16%. Nifty constituents Adani Enterprises and Adani Ports and Special Economic Zone were the top index gainers in the early trade as they rose 6% and 7%, respectively. On Wednesday, the combined market cap of all Adani Group companies stood at Rs 14.65 lakh crore. Meanwhile, Adani Energy Solutions, Adani Power, NDTV, Adani Wilmar and Ambuja Cements gained between 13% and 1.2% around 9:35 am.

₹2.9 trillion, investors in Adani group companies turned wealthier by ₹1.9 trillion, marking the biggest single-day jump in value for the conglomerate.Three Adani companies shot up 20% each to hit their upper circuit limits, even as the group’s market cap neared ₹14 trillion. Adani Green Energy Ltd, Adani Energy Solutions Ltd and Adani Total Gas Ltd were locked at their upper limits of ₹1,348.50, ₹1,084.40, and ₹878.70, respectively,HDFC Bank, SBI, Bank of India, Bharti Airtel, Mamaearth, among other stocks, will be in focus today.Delta Corp, Indiabulls Housing Finance, India Cements and Zee Entertainment Enterprises are in the F&O ban list for 6 December.GIFT Nifty futures traded 37 points higher at 21,036.50, indicating a positive start for Indian indices in Wednesday.Indian equities saw another day of gains, with benchmark Sensex and Nifty closing at fresh record highs for the second day in a row on Tuesday.

Perfios, which provides technology services to financial institutions, is starting to see demand from human resource (HR) firms and ecommerce enterprises, said its chief executive, Sabyasachi Goswami. “There are our onboarding and decisioning (decision-making) capabilities being used in HR and ecommerce industries…These (adjacent industries) can be very significant (opportunity), provided we focus on them,” Goswami told ET.

The rally propelled the group's market capitalisation to an 11-month high of ₹13.88 lakh crore, a gain of ₹3.61 lakh crore since November 28 after the Supreme Court had reserved its judgment on pleas seeking an investigation into the allegations made by Hindenburg against the Adani Group. Oral observations by the court that the Hindenburg report need not be taken as «gospel truth» had been seen by the market as positive. Group chairman Gautam Adani saw a rise in his ranking among the world's wealthiest individuals on Monday, climbing from 20 to 16, with a net worth of $70.2 billion.

A proposal from New Mexico Gov. Michelle Lujan Grisham would underwrite development of a strategic new source of water by buying treated water that originates from oil fields as well as the state’s vast natural underground reservoirs of brine

₹2.9 trillion, investors in Adani group companies turned wealthier by ₹1.9 trillion, marking the biggest single-day jump in value for the infrastructure conglomerate. Three Adani companies shot up 20% each to hit their upper circuit limits, even as the group’s market cap neared ₹14 trillion.

Credit rating agency Moody’s has downgraded its outlook for Chinese sovereign bonds to negative, citing risks from a slowing economy and a crisis in its property sector

360 One Asset Management, formerly known as IIFL Asset Management, on Tuesday said it will invest $16 million in CoreEL Technologies. The funds will be used to accelerate CoreEL’s growth plans including research and development, new products development and augmenting manufacturing capacity, it said in a statement.

Kirloskar Oil Engines Ltd, is seeing demand for loans in all its lending verticals and internally aims to expand its asset book by 25-30% year-on-year, a senior official said on Tuesday. “While specific numbers are not being discussed today, it is our aim — internally, as a target to the management — to grow our asset book in the range of 25-30% year-on-year," said Vimal Bhandari, executive vice-chairman and chief executive of Arka Fincap. As of 30 September, the company’s assets under management (AUM) stood at ₹4,033 crore.

Aro Granite Industries(up 4.91%), Ashapura Minechem(up 4.22%), Sandur Manganese & Iron Ores(up 2.83%), Lexus Granito(up 1.13%), Orissa Minerals Development Company(up 0.98%) and Coal India(up 0.24%) stood among the top gainers. 20 Microns(down 2.97%), Pokarna(down 2.28%), KIOCL(down 0.68%), Gujarat Mineral Dvpt Corporation(down 0.63%), NMDC Ltd(down 0.57%), MOIL(down 0.43%) and Madhav Marbles and Granites(down 0.19%) were among the top losers of the day.

Jithesh John, a 2001 batch Indian Economic Service Officer, has taken charge as Executive Director of the Insolvency and Bankruptcy Board of India (IBBI), according to a release. Earlier, John served as an economic adviser in the Ministry of Power. «Jithesh John took charge as Executive Director, Insolvency and Bankruptcy Board of India (IBBI),» a release dated December 1 by the IBBI said.

Shambhavi Solanki, Head-HR, Policybazaar.com

The optimism is based on a sustained improvement in several factors. One of the key sources of demand for hotel rooms is the wedding season.

HDFC Bank Ltd, State Bank of India. Dabur India Ltd, Zee Entertainment Enterprises, Life Insurance Corporation of India, HDFC Life Insurance Company, Bandhan Bank State Bank of India (SBI) , the Public Sector Banking and Financial services company remains among top picks of Centrum with target price of ₹665 indicating more than 9% upside for the stock from current market price of close to ₹608. As per Centrum Broking after many years of low credit growth and rising NPAs (non performing assets) and write-offs and provisioning, SBI now is coming out of its shadows and showing growth.

NEW DELHI : Wipro Consumer Care and Lighting has acquired personal care brands Jo, Doy, and Bacter Shield from VVF (India) Ltd, marking the company’s 15th acquisition till date and the third in the last twelve months. The acquisition signals further expansion for Wipro Consumer Care in the personal wash segment, where it already sells brands such as Santoor and Chandrika.

In Tuesday’s trading session, the following five stocks witnessed a build of fresh long positions. Lets first understand how this conclusion is reached that whether the stock has seen a buildup of fresh long position or not.

Gautam Adani is now the 16th richest man globally. His rank rose three places in the Bloomberg Billionaires Index in less than a week, thanks to a stellar 30% gain in two sessions, which has seen his fortunes surge by over $4.41 billion. His wealth now stands at $70.2 billion.

Swan Energy jumped over 9% to the day's high of Rs 457.10 on the NSE on Tuesday while those of Sanghi Industries soared 5% to Rs 129.25 following separate block deals. In the case of Swan Energy, 8,499,319 shares were sold for Rs 414 per share according to the information available on the NSE. The stock saw significant volume action following the deal with nearly 87 lakh shares changing hands on the NSE around 10:10 am. The stock is trading near its 52-week high of Rs 463.80 which it hit on November 12, 2023.

The NSE Nifty index traded 134.6 points up at 20821.4, while BSE Sensex was up 435.61 points at 69300.73 as of 10:39AM(IST)on December 05. In the Nifty index, Adani Enterprises Ltd.(up 7.77 per cent), Adani Ports & Special Economic Zone Ltd.(up 7.35 per cent), State Bank of India(up 2.30 per cent), Bharat Petroleum Corporation Ltd.(up 2.07 per cent) and ICICI Bank Ltd.(up 1.99 per cent) were among the top gainers.