Enterprise Financial News

₹600.77 crore via the issuance of fresh equity shares, whereas existing shareholders and promoters will offload 35,161,723 shares, aggregating to ₹492.26 crore. The total size of the IPO was ₹1,092.26 crore. The price band for the offer has been fixed at ₹133–140 per equity share with a face value of ₹10 each.

Agro Phos(up 6.46%), Chambal Fertilisers & Chemicals(up 0.53%), ZUARIAGRO(up 0.42%), Sikko Industries(up 0.39%), Coromandel International(up 0.36%) and Deepak Fertilizers & Petrochemicals(up 0.07%) stood among the top gainers. Bohra Industries(down 4.99%), Gujarat Narmada Valley Fertilizers (down 2.26%), Aries Agro(down 1.66%), Madras Fertlizers(down 1.48%), Rashtriya Chemicals & Fertilizers(down 1.41%), Mangalore Chemicals & Fertilizers(down 1.25%), Madhya Bharat Agro Products(down 0.92%), Fertilizers & Chemicals Tranvancore(down 0.87%), National Fertilizer(down 0.87%) and Rama Phosphates(down 0.71%) were among the top losers of the day.

Gujarat Mineral Dvpt Corporation(up 8.10%), Madhav Marbles and Granites(up 3.05%), Orissa Minerals Development Company(up 2.98%), Ashapura Minechem(up 2.18%), NMDC Ltd(up 1.06%), KIOCL(up 1.03%), 20 Microns(up 0.92%) and Pokarna(up 0.62%) stood among the top gainers. Lexus Granito(down 3.80%), MOIL(down 3.25%), Oriental Trimex(down 2.04%), Sandur Manganese & Iron Ores(down 2.00%), Aro Granite Industries(down 1.03%) and Coal India(down 0.61%) were among the top losers of the day.

Sam Altman, OpenAI’s ChatGPT has extended the availability of its new voice feature to all free users. What is the ChatGPT voice feature?

The NSE Nifty index closed 28.45 points up at 19811.85, while BSE Sensex ended up 92.47 points at 66023.24. On the other hand, IndusInd Bank Ltd.(down 2.11 per cent), Hindalco Industries Ltd.(down 1.30 per cent), Kotak Mahindra Bank Ltd.(down 1.22 per cent), Adani Ports & Special Economic Zone Ltd.(down 1.18 per cent) and Adani Enterprises Ltd.(down 1.09 per cent) were among the top losers of the day.

Bharti Airtel has started the process of taking its wholly-owned subsidiary Bharti Hexacom public, a media report stated. The move is aimed at facilitating an exit to Telecommunication Consultants of India Limited (TCIL), which has a 30% stake in the company and is a Government of India enterprise, the report said. The report further said Bharti Hexacom's valuation is likely to be pegged at Rs 20,000 crore and the listing process will likely be completed by early 2024. Bharti Airtel's holding in Bharti Hexacom stands at 70%.

The benchmark equity indices are trading in negative territory on Wednesday. The NSE Nifty 50 is trading at 19,741.55 down 021%, while the BSE Sensex is trading at 65,780.75 down 150.52 points. Smallcap stocks are leading the losses among the broader indices. PSU Bank, Realty, Metal and Media stocks are facing a downward trend among the other sectoral indices while Pharma, Healthcare, Auto and IT trade in green. 

SMBs find it difficult to hire and retain talent. They lose business and are unable to grow. Co-working spaces can help these SMBs find high-quality yet affordable offices — so they can grow and prosper, says Aditya Verma, Founder & CEO of The Office Pass (TOP).

The Adani Group stocks have had a rollercoaster ride since the start of the year. As the year comes to a close. Here is a look at how the stocks have performed thus far in 2023. In a late January report, US-based short seller Hindenburg Research accused the Adani Group of accounting fraud, stock price manipulation, and improper use of tax havens. This led to a significant stock market downturn for the Adani group shares, wiping out close to $150 billion in market value at its lowest point.

Unlike Google, Facebook and countless other tech giants, the company behind ChatGPT was not created to be a business

BSE Midcap index rising 38.8% and S&P BSE Smallcap Index rising 47.5% during the fiscal year 2024. The same is being supported by the earnings growth being clocked by these companies. The declining commodity prices have benefitted small and mid-cap stocks that saw strong margin expansion drive earnings growth.

Inox wind(up 6.16%), Karma Energy(up 4.96%), CESC(up 3.08%), Inox Wind Energy(up 2.50%), JSW Energy(up 2.11%), NLC India(up 1.75%), Gujarat Industries Power(up 1.47%), Transformers and Rectifiers(India)(up 1.39%), KPI Green Energy(up 1.30%) and KEC International(up 1.28%) were among the top gainers. Orient Green Power Company(down 5.01%), Suzlon Energy(down 4.96%), RTNPOWER(down 4.66%), Jaiprakash Power Ventures(down 2.94%), GE Power India Limited(down 2.84%), DPSC(down 2.35%), Reliance Power(down 1.64%), Kalpataru Projects International(down 1.49%), Torrent Power(down 1.15%) and Voltamp Transformers(down 1.03%) were among the top losers.

₹600.77 crore via the issuance of fresh equity shares, whereas existing shareholders and promoters will offload 35,161,723 shares, aggregating to ₹492.26 crore. The total size of the IPO was ₹1,092.26 crore. The price band for the offer has been fixed at ₹133–140 per equity share with a face value of ₹10 each.

Venugopal Garre, MD, Bernstein, says “the top private banks would be the priority at this juncture because I do not have too many regulatory risks to contend with, for that particular pack. That will be still at the top of the pack, which is what we are essentially playing at this juncture. I have not been too confident around NBFC models in general, especially the larger ones. Some of the SMIDs (small and midcaps) have done really well, but the way to play that for me was my, through my SMID allocation. That is the way I am approaching the financial sector, especially over the next 12 months.” There is really something special happening in the US tech space, looking at the valuations of Nvidia or Microsoft or for that matter, even, Apple now, market caps of trillions of dollars are getting created. If one has to look at that as the mega trend where IT is where all the action and excitement is, what is the best way to participate in India? Indian IT largecaps do not offer this play. But when such exciting things are happening in the tech world, how can Indian investors participate in that? I would say this is a very important question, but very tough to answer because of the nature of opportunities you get in India.

Delta Corp, 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). The Future & Options 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 index do not encounter a situation of security ban.

Maruti Suzuki India: The automobile major said the board of directors will meet on 24 November to consider allotting 1,23,22,514 equity shares of the company to Suzuki Motor Corporation on a preferential basis. Titan Company: The Competition Commission of India has approved Titan’s acquisition of an additional 27.18% stake in CaratLane Trading. Titan will acquire the shares from Mithun Padam Sacheti, Siddhartha Padam Sacheti and Padamchand Sacheti.

An economic disruptor has won Argentina’s presidency. Javier Milei, who describes himself as an “anarcho-capitalist", intends to impose a radical agenda. He wants to reduce ministries from 18 to eight, crunch public spending from about 38% to 23% of GDP, privatize state enterprises, and get rid of many levies and regulatory controls.

Investing.com — The Dow closed lower Tuesday, as the minutes from the Federal Reserve most recent meeting showed members backed higher for longer interest rates for some time. 

MUMBAI : The initial public offering (IPO) of state-owned Indian Renewable Energy Development Agency Ltd (Ireda) opened on Tuesday and attracted investors across categories, reflecting the rising prospects for renewable energy financing in the Indian market. Overall, the IPO was subscribed 1.96 times, with bids received for a total of 921 million shares against the 471 million shares on offer. The response suggests that investors are confident of Ireda’s prospects as India’s largest green financing non-banking financial company (NBFC).

Future Lifestyle Fashions (FLFL) that ran the Central and Brand Factory stores has received two resolution offers, one each from scrap dealer Space Mantra and fashion retailer Donear Industries, people aware of the development told ET. Lenders had rejected Space Mantra’s Rs 550-crore offer for Future Retail because it was too low. Space Mantra was the sole resolution applicant for Biyani’s flagship company Future Retail. Donear Industries-owned textile maker GBTL had shown interest in acquiring Future Enterprises – an affiliate of FLFL- but eventually it did not submit a resolution plan.

LTTS), now Wipro partners with Nvidia to help healthcare companies accelerate adoption of generative artificial intelligence (gen AI) through AI-driven strategies, products, and services. “Wipro will leverage NvidiaAI Enterprise software for the production of AI across its current portfolio of healthcare solutions in Affordable Care Act (ACA), Medicare, and Medicaid to improve member experience, increase enrolment, and help support claims adjudication," Wipro said in a statement adding that this will enable healthcare organisations to achieve faster, and easier consumption of large language models (LLMs) powered by Nvidia AI Enterprise, leading to increased productivity, deeper member intelligence, and better operational efficiencies.