Enterprise Financial News

Dallas, United States & Bengaluru, Karnataka, India – Business Wire India Capillary Technologies, a Bengaluru headquartered customer loyalty technology company has been a dominant player in the Asia market for more than a decade. It expanded globally in 2021 and today, the company announced a 4X growth in the last 3 years in the US market.

Tencent and Huawei, two major Chinese tech giants, are making notable strides in the Web3 space despite the country’s stringent regulations on cryptocurrency trading.

Kothari Sugars & Chemicals(up 2.60%), MAGADHSUGAR(up 1.39%), AVADHSUGAR(up 0.94%), Triveni Engineering & Industries(up 0.89%), Balrampur Chini Mills(up 0.72%), Dhampur Sugar Mills(up 0.69%) and Ponni Sugars(Erode)(up 0.09%) stood among the top gainers. Ugar Sugar Works(down 2.51%), DCM Shriram Industries(down 2.44%), K.M.Sugar Mills(down 1.52%), BAJAJHIND(down 1.52%), Rana Sugars(down 1.44%), Simbhaoli Sugars(down 1.34%), Shree Renuka Sugars(down 0.70%), EID Parry(down 0.47%), Dwarikesh Sugar Industries(down 0.39%) and Uttam Sugar Mills(down 0.26%) were among the top losers of the day.

Adani Wilmar(up 2.93%), JHS Svendgaard Laboratories(up 2.89%), Sheetal Cool Products(up 2.11%), Zydus Wellness(up 1.75%), Vadilal Industries(up 1.42%), Prataap Snacks(up 1.29%), Gillette India(up 0.95%), Bajaj Consumer(up 0.79%), Emami(up 0.45%) and Godrej Consumer Products(up 0.31%) stood among the top gainers. P & G Hygiene(down 1.84%), Mrs Bectors Food Specialities(down 1.61%), Dodla Dairy(down 1.60%), Patanjali Foods(down 1.57%), Nakoda Group(down 1.24%), Dangee Dums(down 1.21%), Varun Beverages(down 0.91%), Heritage Foods(down 0.50%), Umang Dairies(down 0.49%) and Dabur India(down 0.43%) were among the top losers of the day.

Maruti Suzuki India has announced the winners of Cohort 8 of its Mobility & Automobile Innovation Lab (MAIL) – a program part of Maruti Suzuki Innovation umbrella.

Agro Phos(up 4.12%), Paradeep Phosphates(up 2.48%), Chambal Fertilisers & Chemicals(up 1.95%), ZUARIAGRO(up 0.88%), Coromandel International(up 0.62%), Nagarjuna Fertilizers & Chem(up 0.58%), Sikko Industries(up 0.31%), Madras Fertlizers(up 0.26%), Southern Petrochemicals Industries(up 0.22%) and Deepak Fertilizers & Petrochemicals(up 0.14%) stood among the top gainers. Bohra Industries(down 4.96%), Krishana Phoschem(down 2.54%), Madhya Bharat Agro Products(down 1.50%), G S F C(down 1.04%), Fertilizers & Chemicals Tranvancore(down 0.99%), Aries Agro(down 0.58%), Mangalore Chemicals & Fertilizers(down 0.53%), Rama Phosphates(down 0.38%), National Fertilizer(down 0.22%) and Rashtriya Chemicals & Fertilizers(down 0.12%) were among the top losers of the day.

Reskilling and upskilling are not only turning out to be effective talent retention tools but also helping companies boost revenue, according to a joint report by EY and iMocha. According to the report, more than 50% of the enterprises which participated in the global survey are undergoing “skills-first transformation” (SFT) and clocking two times growth in revenue compared with their peers. The report was released on Tuesday. Companies adopting SFT saw 61% of human resources department leaders reporting better outcomes for talent retention in 2023 and 58% reporting a boost in employee performance. The report is based on primary research via interviews and surveys with 560 HR leaders and employees across BFSI (banking, financial services and insurance), information technology, telecom and other industries across the US, EMEA (Europe, the Middle East and Africa), India, Southeast Asia and the Australia-New Zealand region. More than half of the companies that participated in the survey are embracing SFT, as per the report.

₹2,150 crore through the IPO, consisting of a fresh issue of ₹1,290.13 crore and an offer for sale of ₹860.08 crore. The price band for the offer has been fixed at ₹30–32 per equity share, with a face value of ₹10 each. The net offer will be reserved for qualified institutional buyers at 50% of the total offer size, non-institutional investors at 15%, and retail investors at 35%.

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 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.

ChatGPT maker OpenAI, Salesforce CEO Marc Benioff has put in his hat to woo the AI researchers at the company. Benioff in a bid to woo OpenAI researchers offered them full cash and equity in order to join his company's Einstein AI research team and even suggested that these researchers can send their cv directly to him.

₹643.26 crore from anchor investors including Goldman Sachs, ahead of the launch of its initial public offering (IPO). IREDA IPO opens for subscription on Tuesday, November 21, and will close on Thursday, November 23.

“Digital innovation is transforming how we transact, manage money, and view value but poses risks to our financial system,” read a statement from the Office of the Superintendent of Financial Institutions (OSFI). “Recent crypto events underscore risks of unregulated financial innovation. Public disclosures enhance transparency, comparability of data, and market discipline for a safer financial system.”

Bank of India (Sidbi) and The National Small Industries Corporation (NSIC) will back Sorin Investments, the startup fund owned by Sanjay Nayar, the former head of private equity firm KKR India, in a major sign of confidence for the veteran banker and deal maker. Both Sidbi and the ₹10,000-crore Self Reliant India (SRI) Fund, owned by NSIC Venture Capital Fund (NVCFL), a 100% subsidiary of NSIC, will invest about ₹300 crore into Sorin, said multiple people aware of the development. The fresh investments will help Sorin close its maiden fund at ₹1,300 crore.

eTukTuk (TUK) is proving to be a masterclass in blockchain use, with its ecosystem both encouraging the transition to electric vehicles (EVs) and helping local economies. The belief in the project is growing at a staggering rate and with just 2 days left in the current presale stage, those interested will want to get involved as soon as possible.

NEW DELHI : JSW One Platforms Ltd, the tech venture of the JSW Group, aims to achieve break-even within two years, after having quadrupled its gross merchandise value (GMV) since last year, said chief executive Gaurav Sachdeva. “So, we will break-even...somewhere closer to FY26. When we say break-even, it is not Ebitda (earnings before interest, taxes, depreciation, and amortization) break-even, but PBT (profit before tax) break-even.

MUMBAI : Religare Enterprises Ltd’s (REL) board on Monday refuted the allegations against its chairperson Rashmi Saluja asserting that granting of the employee stock options (Esops) from REL’s subsidiary Care Health Insurance Ltd, complied with the regulations of the insurance watchdog. The Burman family, which seeks to take over REL via an open offer, claimed last week that Saluja’s annual remuneration of ₹150 crore is excessive. The open offer was announced on 25 September.

Rising costs of acquisitions, higher salaries for employees, and competitive recruiting bonuses for financial advisors, along with the record spike in interest rates, are making it more costly to run large wealth management enterprises.

In the ever-evolving world of cryptocurrency, Bitcoin continues to make headlines with its latest surge. Trading at $37,292, the digital currency marked a significant increase of 2.5% on Monday. This uptick in value coincides with the political shift in Argentina, where Bitcoin’s price surged following Javier Milei’s victory in the presidential race, underscoring the cryptocurrency’s sensitivity to global events.

The IPO offer of this state-owned company will close on November 23. It is the first IPO by a public sector enterprise after Life Insurance Corp's public issue in May last year. The Mini Ratna company is actively promoting, developing, and extending financial assistance for new and renewable energy projects as well as energy efficiency and conservation projects with a strong track record of growth, geared towards high-quality assets and diversified asset book and stable profitability, SMC said in an IPO note. Government's push towards renewable energy projects is expected to increase, SMC said even as it maintained that the company could suffer if it is unable to maintain and effectively manage the quality of its growing asset portfolio and NPAs. The IPO with a face value of Rs 10 consists a fresh issue of up to 40.3 crore equity shares and an offer for sale (OFS) of up to 26.8 crore equity shares by the government. About 50% of the IPO will be available for allocation on a proportionate basis to qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors. The proceeds from the fresh issue will be used for augmenting its capital base to meet its future capital requirements and onward lending. IREDA has an impressive track record spanning over 36 years in the field of fostering and providing financial support for fresh and sustainable energy (RE) projects, as well as energy efficiency and conservation (EEC) initiatives. The company is India's largest dedicated green financing non-banking financial company (NBFC). The organization offers a comprehensive array of financial products (fund and non-fund-based) and associated services, from project inception to post-completion,

Nothing said it is launching a mobile application to support blue chat bubbles on iMessage for Android users, US tech giant Apple announced it will adopt RCS (rich communication services) messaging standard, which will be enabled via a software update “later next year”. ET explains what this means. Apple’s software update will enable a range of iMessage-like features for messaging between iOS and Android users. Experts see this as a big step closer to making texting more inclusive for cross-platform communications. “Later next year, we will be adding support for RCS Universal Profile, the standard as currently published by the GSM Association. We believe RCS Universal Profile will offer a better interoperability experience when compared to SMS or MMS,” Apple said in a statement. “This will work alongside iMessage, which will continue to be the best and most secure messaging experience for Apple users.”

₹38 on its debut on 11 October, followed by Sungarner Energies Ltd, which opened at ₹250 on 31 August, a premium of 201% over its issue price. Basilic Fly Studio Ltd listed at ₹271 on 11 September, a premium of 179% over the issue price of ₹97.