Enterprise Financial News

DCM Shriram Industries(up 6.79%), Uttam Sugar Mills(up 6.73%), AVADHSUGAR(up 1.97%), Mawana Sugars Ltd.(up 1.90%), BAJAJHIND(up 1.85%), Triveni Engineering & Industries(up 1.09%), Magadh Sugar & Energy Ltd.(up 0.91%), Balrampur Chini Mills(up 0.62%), KM Sugar Mills Ltd.(up 0.31%) and Vishwaraj Sugar Industries(up 0.29%) stood among the top gainers. Dhampur Sugar Mills Ltd.(down 2.21%), Ugar Sugar Works(down 1.69%), Dalmia Bharat Sugar and Industries Ltd.(down 1.39%), Dwarikesh Sugar Industries(down 1.27%), Simbhaoli Sugars(down 0.99%), Kothari Sugars & Chemicals(down 0.75%), Shree Renuka Sugars(down 0.70%), Sakthi Sugars(down 0.48%), Ponni Sugars(Erode)(down 0.43%) and Rana Sugars(down 0.41%) were among the top losers of the day.

Realty firm Brigade Enterprises has formed a partnership with Krishna Priya Estates and Micro Labs to develop a housing project in Bengaluru that has an estimated sales value of Rs 2,100 crore. The 14-acre land parcel is located at Yelahanka in North Bengaluru. Brigade Enterprises Ltd has signed a Joint Development Agreement (JDA) with Krishna Priya Estates and Micro Labs to develop around 2 million sq ft of residential project in Bengaluru with a Gross Development Value (GDV) of Rs 2,100 crore, the company said in a regulatory filing on Thursday. «We will create a wonderful residential development worthy of the marquee location. We anticipate the project to yield a revenue realisation of Rs 2,100 crore on completion,» Brigade Enterprises Ltd Managing Director Pavitra Shankar said. The company has been acquiring land outright and through JDAs to expand its business amid strong demand for residential properties. Last month, Brigade bought a 9.71-acre land parcel in Hyderabad for Rs 660 crore to expand its business. In August, Brigade Enterprises acquired a 6.54-acre land parcel in Chennai from Pfizer Healthcare India for nearly Rs 139 crore to develop a residential project. Recently, Brigade Enterprises has reported a 72 per cent increase in its consolidated net profit to Rs 133.50 crore for the second quarter of this fiscal year.

Apollo Hospitals Enterprise Ltd, Narayana Hrudayalaya Ltd share price scaled 52-week highs on Friday while Fortis Healthcare, Max Healthcare Institute Limited, Global Health ltd ( Medanta) are trading close to their highs seen recently. The investor confidence remains strong led by improving occupancy for Hospitals, rising average revenues per operating bed (ARPOB), rising non Covid treatment volumes etc that are helping lift their financial performance as was visible in Q2 results. Analysts at Jefferies India Pvt Ltd in their result review report said that in 2QFY24, 3 of our 4 coverage hospitals delivered beats to their estimates while one was in line.

Adani Group for alleged overvaluation of coal imports, according to a report published by the news agency Reuters. The Directorate of Revenue Intelligence has been attempting to obtain Singaporean authority's transaction documents pertaining to Adani's business dealings since 2016.

KIOCL(up 2.24%), Oriental Trimex Ltd.(up 2.14%), Lexus Granito(India)Ltd.(up 1.40%), Pokarna Ltd.(up 1.39%), MOIL(up 0.96%), Orissa Minerals Development Company(up 0.87%), 20 Microns Ltd.(up 0.28%) and Madhav Marbles & Granites Ltd.(up 0.10%) were among the top gainers. Gujarat Mineral Dvpt Corporation(down 1.28%), Sandur Manganese & Iron Ores Ltd.(down 0.65%), Aro Granite Industries(down 0.59%), Coal India(down 0.45%), Ashapura Minechem Ltd.(down 0.38%) and NMDC Ltd.(down 0.09%) were among the top losers.

Meta Platforms on Thursday launched two new AI-based features for video editing that could be used for posting to Instagram or Facebook. The first is called Emu Video and it generates four-second long videos with a prompt of a caption, photo or an image, paired with a description. The other is known as Emu Edit that allows users to more easily alter or edit videos with text prompts.

HDFC/ICICI/SBI Cards/Bajaj Finance: The Reserve Bank on Thursday tightened norms for consumer credit as it asked banks and NBFCs to assign a higher risk weight for unsecured personal loans, a move aimed at making the lenders more cautious on such advances. The risk weight on unsecured consumer loans has been raised by 25 percentage points. A higher risk weight means that lenders need to set aside more funds as a safety net for consumer loans, which could make such credit more expensive.

Dividend stocks 2023: Shares of Man Infraconstruction Ltd, Archean Chemical Industries Ltd, Axita Cotton Ltd, Bhagiradha Chemicals & Industries Ltd, Computer Age Management Services Ltd, Gabriel India Ltd, IFL Enterprises Ltd, Indian Railway Catering and Tourism Corporation (IRCTC) Ltd, Jamna Auto Industries Ltd, K.P. Energy Ltd, Metropolis Healthcare Ltd, MRF Ltd, Info Edge (India) Ltd, NILE Ltd, Page Industries Ltd, Panama Petrochem Ltd, Procter & Gamble Hygiene & Health Care Ltd, Polyplex Corporation Ltd, Precision Wires India Ltd, Ram Ratna Wires Ltd, R R Kabel Ltd, Shradha AI Technologies Ltd, Stylam Industries Limited, Tata Steel Long Products Ltd, United Spirits Ltd, Vidhi Specialty Food Ingredients Ltd, and Yug Decor Ltd will be in focus when stock market opens today.

There’s a shift towards a non-AUM fee model for advisory services, according to financial planning workflow platform AdvicePay.

. One of the pleas, filed by HDFC Bank challenging the jointresolution plan of Himadri Speciality Chemical Ltd and the Dalmia Bharat group to acquire Birla Tyres, will be heard on 23 November. The other petition, involving Kesoram Industries Ltd, the parent company of Birla Tyres, contesting the rejection of its claims as a financial creditor in the insolvency process, will be heard on 24 November. Last month, the Kolkata bench of the National Company Law Tribunal (NCLT) approved the resolution plan jointly submitted by Himadri Speciality Chemical and Dalmia Bharat Refractories to acquire Birla Tyres under the Corporate Insolvency Resolution Process (CIRP).

Benefits of Kyndryl+Red Hat Partnership Industry-Leading Expertise: Kyndryl's years of experience in managing IT infrastructure, combined with Red Hat's leadership in open-source technology, provide a strong foundation for IT transformation. Scalable Solutions: The partnership offers scalable solutions that can adapt to the evolving needs of enterprises, ensuring long-term relevance.

Facilitating seamless cross-border payments for MSMEs is a pivotal factor in propelling them towards achieving 60% of the formidable $2 trillion export target by 2030. 

Cisco Systems cut its full-year revenue and profit forecasts on Wednesday in a sign that demand for its networking equipment was slowing, sending the company's shares down nearly 11% after market. The company has in recent years grappled with supply chain issues and a post-pandemic slowdown in demand, which has hastened its push into software offerings like cybersecurity.

InGovern has said that a reading of Religare Enterprises' annual reports shows its chairperson Rashmi Saluja earned «excessive» compensation, and that there were regulatory breaches and non-disclosures by the financial services company in which the Dabur promoter family is seeking to enhance its equity ownership through a mandatory open offer to minority stockholders. InGovern estimated the value of Saluja's stock options of Religare and of its subsidiary Care Health Insurance over the past 3-4 years at ₹480 crore.

MUMBAI : Care Health Insurance Pvt. Ltd issued employee stock options (Esops) to Rashmi Saluja, executive chairperson of its parent Religare Enterprises Ltd (REL), despite the insurance regulator specifically rejecting the proposal, proxy advisor InGovern Research Services said. After the rejection, the Care board claimed that insurance regulator’s approval was not really required for granting the options.

LPL Financial Wednesday announced the launch of LPL Private Wealth Management, an affiliation program for advisors catering to high-net-worth clients.

InGovern Research has raised a red flag against Religare Enterprises alleging «vested interest» of its Chairman Rashmi Saluja due to excessive remuneration as well as regulatory breaches. In the last 3-4 years, the total valuation of options of Religare Enterprises Ltd (REL) and its subsidiary Care Health Insurance Limited (CARE) to Saluja is over Rs 480 crore, which is in addition to compensation paid at REL, said a report from InGovern. Shares of CARE were issued to Saluja through ESOPs, despite rejection from IRDAI (Insurance Regulatory and Development Authority of India) and no approval from the shareholders of REL was also taken for that, said InGovern in its report.

Religare Enterprises is “fair” even as they wait for regulatory approvals on their proposal. In an interview to ET, he said he hopes that shareholders will tender their shares in the open offer as the price presented is higher than Religare’s current market rate. Once the open offer is concluded, the Burman family, currently the largest shareholder of Religare, will nominate their directors to the board of the financial services company. Burman said he is surprised by the behaviour of the Religare board, which had backed the open offer but is now against it.

The PGA Tour is trying to narrow the list of potential investors as it works toward a Dec. 31 deadline to complete its deal with Saudi Arabia's national wealth fund

Dozens of tiny grocery stores have sprung up around Cuba in recent months

The NSE Nifty index closed 231.9 points up at 19675.45, while BSE Sensex ended up 742.06 points at 65675.93. On the other hand, Bajaj Finance Ltd.(down 1.86 per cent), IndusInd Bank Ltd.(down 1.04 per cent), Power Grid Corporation of India Ltd.(down 1.01 per cent), Dr.