Enterprise Financial News

Amazon and the West Bengal Industrial Development Corporation (WBIDC) have signed a Memorandum of Understanding (MoU) to enhance exports from West Bengal. Through this partnership, numerous Micro, Small, and Medium Enterprises (MSMEs) in West Bengal will have the opportunity to sell their 'Made in India' products to customers on Amazon in over 200 countries worldwide. WBIDC will establish e-commerce export hubs and set up an e-commerce export facilitation cell in key districts of West Bengal, including Kolkata, North 24 Paraganas, South 24 Paraganas, Howrah, Hooghly, and others.

Parag Milk(up 3.87%), Dangee Dums(up 3.38%), Varun Beverages(up 2.25%), Sheetal Cool Products(up 1.94%), Euro India Fresh Foods(up 1.80%), Prataap Snacks(up 1.61%), Patanjali Foods(up 1.16%), Nakoda Group(up 1.01%), Zydus Wellness(up 0.91%) and Colgate Palmolive(India)(up 0.90%) stood among the top gainers. Jyothy Labs(down 1.87%), JHS Svendgaard Laboratories(down 1.85%), Dodla Dairy(down 1.77%), Gillette India(down 0.77%), ADF Foods(down 0.65%), Marico(down 0.34%), Umang Dairies(down 0.21%), Tasty Bite Eatables(down 0.18%), Dabur India(down 0.12%) and Hindustan Unilever(down 0.08%) were among the top losers of the day.

Ashapura Minechem(up 5.00%), 20 Microns(up 4.90%), Madhav Marbles and Granites(up 3.94%), Oriental Trimex(up 2.78%), Sandur Manganese & Iron Ores(up 2.60%), Aro Granite Industries(up 0.73%), Coal India(up 0.69%), NMDC Ltd(up 0.52%) and Lexus Granito(up 0.37%) stood among the top gainers. Gujarat Mineral Dvpt Corporation(down 2.80%), Pokarna(down 2.62%), Orissa Minerals Development Company(down 0.82%), KIOCL(down 0.47%) and MOIL(down 0.31%) were among the top losers of the day.

AVADHSUGAR(up 12.99%), MAGADHSUGAR(up 11.91%), DCM Shriram Industries(up 9.99%), Dalmia Bharat Sugar & Industries(up 9.66%), EID Parry(up 8.37%), Uttam Sugar Mills(up 8.20%), Simbhaoli Sugars(up 5.76%), Dhampur Sugar Mills(up 5.02%), Shree Renuka Sugars(up 4.85%) and Triveni Engineering & Industries(up 4.31%) stood among the top gainers. Kothari Sugars & Chemicals(down 0.09%) were among the top losers of the day.

NMDC Ltd share price gained up to 1.72% on Thursday during intraday trades on the BSE. The stock has seen a rise close to 40% since end August, is trading near 52 week highs. The rise in international iron-ore prices is boosting investor confidence towards country's largest iron-ore producer.

By Nitha Puthran Amid recessionary fears and rising energy prices, businesses must prioritise environmental sustainability to ensure stability. Environmental, Social, and Governance (ESG) factors greatly influence business perception, impacting institutional investments, cost of capital, and customer retention. As the world strives for net zero, it is time for businesses and IT leaders to assess the environmental cost of doing business.

Rahul Sharma, Director, JM Financial Services, says “unless and until Bank Nifty does not see a major short covering, we will see this slow, gradual up move to continue in Nifty. Testament to this is the midcap and smallcap indices which have created a new high, Nifty is expected to follow suit. So the broader market is not giving up and that is giving us confidence that eventually the ceiling should be taken out and on an immediate basis, 20,000 is what we are expecting the Nifty to test.” On Nifty, clearly we just touch 19,800 and then we see a fall coming in. What is the view coming in for the benchmark indices? Where can we expect it to sustain above 19800? Is that something we could expect to see going forward as well as now? Today's move could be because of the expiry data that we have and this indicates that probably in a day or two, Nifty should be taking on that ceiling of 19850 odd. The way we are reading things is either we close above the 19850 mark or there is a considerable dip which becomes a buying opportunity.

Reliance Industries Ltd., has partnered with sports enterprise Sports For All (SFA) to broadcast school-level sports competitions on television and digital platforms. The SFA Championships will be available on Jio Cinema, Sports 18 – 2, and Sports 18 Khel starting 3 December, making grassroots-level sports widely accessible in India. “We endeavour to continue spotlighting school-level talent by including SFA Championships in our portfolio," said Siddharth Sharma, head of content, TV and Digital, Viacom 18 Sports, in a statement.

issued notices to India’s #1 edtech company and co-founder Byju Raveendran on a bunch of charges. These include missing documentation on imports and overseas remittances, delayed filings on investments in the company from abroad, and failure in share allotments against such investments. The charges by the ED follow searches the agency did in April at several offices of Byju’s and residences of its top executives.

Federal Bank Limited is the promoter of Fedbank Financial Services, a non-banking finance company (NBFC) with retail in focus. According to the CRISIL Report, in the fiscal year 2023 and the three months ending on June 30, 2023, Fedbank Financial Services had the second and third lowest cost of borrowing among the micro, small, and medium-sized enterprises (MSMEs) gold loan and MSME & gold loan peer set in India.

Reliance Jio and Bharti Airtel, is now reaching new frontiers. In what seems to be a step ahead of Jio, Bharti-backed low earth orbit (LEO) satellite firm OneWeb India has been granted the necessary regulatory approvals from the Indian National Space Promotion and Authorization Centre (IN-SPACe) to launch Eutelsat OneWeb's commercial satellite broadband services in India. Eutelsat OneWeb is a subsidiary of Eutelsat Group, global leader in satellite communications (satcom) delivering connectivity and broadcast worldwide.

Dangee Dums(up 2.95%), Varun Beverages(up 2.72%), Parag Milk(up 2.68%), Patanjali Foods(up 1.56%), Euro India Fresh Foods(up 1.25%), Bikaji Foods International(up 1.15%), Nakoda Group(up 1.01%), Sheetal Cool Products(up 0.89%), Nestle India(up 0.58%) and Hindustan Foods(up 0.57%) were among the top gainers. JHS Svendgaard Laboratories(down 2.77%), Marico(down 0.92%), Jyothy Labs(down 0.72%), Dabur India(down 0.46%), Hindustan Unilever(down 0.26%), Prataap Snacks(down 0.26%), Tasty Bite Eatables(down 0.19%), Zydus Wellness(down 0.15%), Dodla Dairy(down 0.13%) and Godrej Consumer Products(down 0.12%) were among the top losers.

A Chinese power provider says it has completed the first digital yuan smart contract transaction in the solar power industry.

One of China’s largest shadow banks warned it’s “severely insolvent”, with a debt pile more than two times higher than assets, according to a letter seen by Bloomberg News.

Hindustan Copper, Indiabulls Housing Finance, The India Cements, Manappuram Finance, the Multi Commodity Index of India (MCX), NMDC, RBL Bank and Zee Entertainment Enterprises (ZEEL). Chambal Fertilizers and Delta Corp have moved 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.

Apple Inc. is expected to see lower shipments of Macs, iPads, AirPods and smartwatches this year in India even as iPhone demand continues to surge, according to industry analysts and retailers. While Mac shipments will likely fall between 15% and 18% in calendar 2023, iPad shipments might contract 6% to 8%, analysts at technology market researcher Counterpoint told ET. Shipments of Airpods and Apple Watches will likely more than halve this year, the analysts said. They declined to give unit projections for shipments of these products.

IOB) has put a ₹457- crore portfolio of non-performing assets (NPAs) from micro, small and medium enterprises (MSMEs) on sale The bank expects a minimum of 60% recovery with half of it in cash, documents accessed by ET showed. In a notification on its website, the bank said the portfolio includes 91 MSME loan accounts with outstanding of between ₹3 crore and ₹10 crore. The bank has set a ₹274 crore reserve price which is 60% of the total outstanding, of which it expects at least half, or ₹137 crore, in cash. «Preference will be given to bids or offers with a higher cash portion...management fee would be 1.5% per annum of net assets value… for first three years, 1.25% for the fourth, fifth and 0.75% for the sixth year onwards,» the bank said inviting bids from asset reconstruction companies, banks and alternative investment funds. Bids will commence on November 28 through e-auction, the bank said. «This is an early sign of the likely increase in NPAs from retail and MSME accounts which are bearing the brunt of the sharp increase in rates in the last one-and-a-half years.

OpenAI over the past four days has sparked calls for reducing dependence on the use of a single Generative Artificial Intelligence (GenAI) tool by technology and startup executives that use the product or were planning to sign up. On Wednesday, OpenAI confirmed that Sam Altman was being restored as the CEO, bringing closure to the meandering saga at the most important GenAI company in the world. The twists and turns since his initial ouster had kept everyone in the startup community on tenterhooks.

By Max Hunder

Nirmala Sitharaman on Wednesday showed that 87% of the individual respondents and 89% of the firms felt claiming income tax refund was convenient. Checking refund status was reported as smooth by 84% of individuals and 77% of firms. The extensive steps introduced by the government in recent years to streamline, simplify and automate the tax regime have borne rich dividends as is evident from the survey results on assessing speed and efficiency of income tax refunds, a statement from the finance ministry on the survey said quoting CII president R.

World Cup 2023 trophy, it would have been a cherry on the cake for investors in hotel stocks. After all, the sector was seen as among the potential beneficiaries of this event. Even so, investors have a lot to cherish.