Enterprise Financial News

macro numbers and BJP's electoral win in three states. Shares of flagship firm Adani Enterprises jumped 10 per cent while those of Adani Green Energy jumped 15 per cent. Shares of Adani Total Gas clocked a gain of 14 per cent.

US Federal Reserve will initiate rate cuts in the coming year. This outlook has led to a decline in the yield on the US 10-year Treasury to 4.2% in Friday's trading, marking a three-month low. Buoyed by these favorable factors, the Nifty 50 commenced today's trading at 20,601 points, reflecting a 1.64% gain compared to the previous closing price of 20,267.90 and establishing a new peak at 20,602.50.

The NSE Nifty index traded 282.5 points up at 20550.4, while BSE Sensex was up 931.04 points at 68412.23 as of 10:09AM(IST)on December 04. In the Nifty index, Adani Enterprises Ltd.(up 6.87 per cent), Adani Ports & Special Economic Zone Ltd.(up 5.49 per cent), Coal India Ltd.(up 3.30 per cent), NTPC Ltd.(up 3.10 per cent) and ICICI Bank Ltd.(up 2.95 per cent) were among the top gainers.

Russian firms are planning to enter into joint ventures (JVs) in India to set up units in the aluminium and beverage sectors that will give a big push to Make in India. Russia’s premium wine maker Boris Titov is entering into a JV with an Indian partner to set up a unit near Delhi to produce sparkling wine. “I was recently in India to discuss a business plan. I have received a positive response.

IDBI Bank Ltd and a couple of other state-run banks. “Well, IDBI has been going on for years. Nothing has happened.

By Ajay Trehan

Sectorally, buying was seen in momentum, power, FMCG, utilities and realty stocks while selling was seen in auto stocks. Stocks that were in focus include names like Power Finance Corporation which was up more than 9%, REC Ltd gained more than 7% to hit a fresh record high and Brigade Enterprises closed 2.6% higher to hit a fresh record high on Friday. We have collated a list of three stocks that either hit a fresh 52-week high, or all-time high or saw a volume or a price breakout. We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view:

₹170 crore marks a significant step. This move not only introduces UltraTech into a new market butis also expected to reduce its logistics costs given that it did not have production capacity in Jharkhand. These acquisitions along with planned expansions should accelerate UltraTech towards its expansion target.

Google is rolling out a bulk select feature in the Gmail mobile app on Android and iOS devices. The feature is available to all Google Workspace customers and users with personal Google Accounts.

investing principles are simple as evident from the ideas he has penned down for various publications. Mauboussin relies on hidden opportunities to generate profits, often capitalizing on market turbulence and uncertainty. He explained how during periods of market uncertainty, enterprises endowed with option value can find themselves exceptionally well-placed for success.

Hong Kong court will convene a hearing on Monday on troubled Chinese property developer Evergrande's plans for restructuring its more than USD 300 billion in debts and staving off liquidation. The company, the world's most indebted property developer, ran into trouble when Chinese regulators cracked down on excessive borrowing in the real estate sector. Last month, the company said Chinese police were investigating Evergrande's chairman, Hui Ka Yan, for unspecified suspected crimes in the latest obstacle to the company's efforts to resolve its financial woes.

Also Read: Not whole mid, smallcap segment expensive; bullish on power sector, says Sandeep Bagla of TRUST Mutual Fund This robust rally is attributed to several factors, including strong economic growth, impressive corporate earnings, a decline in crude oil prices, and the increasing trend of retail investing along with Foreign Portfolio Investment (FPI) inflows. The recently released GDP numbers for India on Thursday revealed a significant expansion of 7.6% in the September quarter of the current fiscal year, surpassing the expectations of analysts.

India and China both on Saturday refrained from signing the pledge at the COP28 climate summit to triple the world's renewable energy capacity by 2030 even though New Delhi already committed to it as part of its G20 presidency. During the UN's climate talks here, 118 countries committed to tripling the global renewable energy capacity by 2030 in a highly endorsed initiative. This ambitious goal aims to reduce the reliance on fossil fuels in the world's overall energy production.

Wipro Consumer Care — Ventures, the venture funding arm of Wipro Consumer Care and Lighting, on Saturday said it has launched the second fund with a corpus of Rs 250 crore. The Fund II will focus on investing in consumer startups in India and Southeast Asia, a company statement said. «We would look for e-comm driven companies at Pre Series A onwards, with minority stake approach (up to 25 per cent), and continue with our strategy of helping and nurturing the startups as required,» it added.

Realty firm Brigade Enterprises will develop a new residential project in Bengaluru, comprising 1,275 units, and expects to earn a revenue of around Rs 2,000 crore. In a statement, Brigade on Saturday said it has launched a housing project — Brigade Sanctuary, spread across 14 acres on the Whitefield-Sarjapur Road.

Investing.com — The Dow closed higher Friday, as Treasury yields were pressured by growing expectations for sooner rate cuts even as Federal Reserve Chairman Jerome Powell warned against «premature» bets on rate cuts.

Kesoram Industries, which announced merger of its cement business with UltraTech Cement, is set to prepay around ₹1,500 crore of high-cost debt borrowed at 20% from Goldman Sachs, Cerberus and Edelweiss. «The three funds — Goldman Sachs, Cerberus Capital Services and Edelweiss — are set to be paid ahead of maturity as UltraTech is rated AAA and the cost of borrowing is much cheaper,» a person with knowledge of the matter said on condition of anonymity. As part of the merger deal, UltraTech Cement will issue one share for every 52 shares of Kesoram Industries. The total value of the deal includes a debt of about ₹1,700 crore, according to a Motilal Oswal report.

Adani Group plans to spend 7 trillion rupees ($84.00 billion) over the next decade on infrastructure projects, Chief Financial Officer Jugeshinder Singh said on Friday. «Our capex will go up to run and develop infrastructure,» Singh said, without elaborating on the type of projects the company would undertake. The port-to-power conglomerate runs India's largest private port and is also developing and managing several airports and roads. The billionaire Gautam Adani-led group will also decide on divesting its stake in Adani Wilmar, its joint venture (JV) with Singapore's Wilmar International, in the next three months, Singh said on the sidelines of the Trust group event in Mumbai. Adani Group holds a 44% stake in the JV and has been considering a potential stake sale for a few months, Bloomberg News reported earlier, adding that Gautam Adani and his family may retain a minority stake in a personal capacity. Adani Wilmar posted a second consecutive quarterly loss in November. Shares of Adani Group companies are recovering after a Jan.

Also Read: Nifty 50 hits record high; 5 key factors that drove the market The impetus for today's market surge was primarily driven by the release of India's GDP numbers on Thursday. The country's economy exhibited robust growth, expanding by 7.6% in the September quarter of the current fiscal year, surpassing analysts' expectations.

₹1,022.55 per share on Friday, December 1 on NSE after its promoter company Bharti Airtel acquired an additional 1.35 percent stake in the telecom company from another promoter group entity Indian Continent Investment Ltd (ICIL) via ₹8,301.73-crore block deal. “BTL has acquired 1.35% shares of Bharti Airtel from Indian Continent Investment Limited (ICIL) through block deal mechanism on National Stock Exchange of India Limited for an aggregate amount of ₹8,301.73 crore," BTL said in a stock exchange filing. After the recent block deal, ICIL's ownership in Airtel has decreased to 4.56%.

Persistent Systems has appointed four new executives to its top leadership as it aims to scale up its digital business operations after doubling its revenue to cross $1 billion revenue in March 2023. The Pune-based firm has hired former Wells Fargo executive Sumit Arora as Senior Vice President to help the firm set up and drive the Consulting practice.