Enterprise Financial News

Salesforce Inc. named Denise Dresser as the new chief executive officer of Slack, promoting a longtime internal executive as the third leader for the workplace communications unit in the past year. “Denise is an incredible business leader who has excelled at every level in her career at Salesforce,” Salesforce CEO Marc Benioff said in post on social media site X. Slack is a unit of Salesforce.

Wedbush tech analysts believe a new tech bull market has started despite worries. They see the set-up in the sector as strong amid a «tidal wave» of AI spending.

Morrison & Co-backed data centre owner CDC Data Centres is busy restocking its balance sheet with a new debt package.

The Transport Workers Union has ratcheted up pressure on Virgin Australia over pay agreements as the airline resumes plans to re-list, with another group of workers raising the prospect of strikes before Christmas.

Zee Entertainment Enterprises Ltd. traded 0.17 per cent higher in Monday's session at 10:15AM (IST). The stock opened at Rs 250.25 and has touched an intraday high and low of Rs 254.4 and Rs 249.5, respectively, during the session so far.

TPG Telecom shares plunged after it failed to reach an agreement with Vocus Group over a $6.3 billion transaction to offload its Vision Network.

BC Jindal Group, has emerged as the sole bidder for debt-laden Future Enterprises (FEL) after a more than eight-month process. Jindal's plan was the only one received by creditors till the end of business on Friday, the last date for submission of resolution plans for FEL, which owes creditors led by Central Bank of India and its arm Centbank Financial Services a total ₹12,265 crore, the second largest debt pile from the defunct retail giant Future Group. Reliance Retail, which had expressed interest and sought more time to submit a resolution plan, did not end do so, people familiar with the process said. «Ultimately, there is only one bidder after the extensions and all the to and fro. Lenders will now scrutinise the plan and seek clarifications.

₹160.20 (on 21 July) and a high of Rs. 270 (on 18 September). Going by Dr.

Indian stock market: Indian Railway Finance Corporation ltd (IRFC), REC Ltd, PFC (Power Finance Corporation Ltd) , UCO Bank, SJVN Ltd stand amongst the top mid cap gainers during Samvat 2079 having given 127-258% returns to investors during last one year. IRFC saw maximum gains followed by others The investor's confidence remained very strong on mid and small caps and the returns given by mid and small Indices have beaten Sensex and Nifty returns. The Sensex and Nifty are up by around 11% during the last year.

₹17,000 crore per month. Also Read: Down 4%, Nifty Midcap 150 declines more than Nifty 50 in October on global headwinds On Friday, the domestic equity benchmarks Sensex and Nifty 50 settled higher on Friday supported by fag-end buying in select heavyweights, including HDFC Bank and ITC, despite weak global cues. Nifty 50 ended at 19,425.35, up 30 points, or 0.15 per cent, while the 30-share Sensex pack ended 72 points, or 0.11 per cent, higher at 64,904.68.

IPOs Next Week: The primary market witnessed some major listings in both main board and small- and medium-sized enterprise (SME) segments last month, which kept investors engaged with subscriptions and listings. Moving on, the upcoming holiday-shortened week post Diwali sees strong market buzz - similarly packed with new listings and initial public offering (IPO) issues, that are available for subscription. Let's take a look at the companies that are opening for subscription this week, along with few that are getting listed on the bourses.

BSE Sensex logged its second consecutive weekly gain, supported by declining US bond yields and lower crude oil prices after the US Federal Reserve's rate pause decision. On the stock-specific front, 45 smallcap stocks logged gains in the range of 15 per cent - 40 per cent last week, outperforming the index.

Dividend Stocks: Shares of several companies will trade ex-dividend in the coming week including Power Grid Corporation of India, Indian Railway Catering and Tourism Corporation (IRCTC), Indraprastha Gas Ltd (IGL), United Spirits, MRF, among others will trade ex-dividend in the coming week, starting from Monday, November 13. The ex-dividend date is the day on which the equity share price adjusts to reflect the next dividend payout. It is the day the stock becomes ex-dividend, which means it does not carry the value of its next dividend payment from that day forward.

Bitcoin is climbing for a fourth consecutive week, with the digital token’s price lingering just below an 18-month high of $38,000, as more investors bet that US exchange-traded funds that hold the largest cryptocurrency are on the verge of winning regulatory approval. “We are referring to the current Bitcoin rallies internally as, ‘nothing for sale’ rallies, said Stephane Ouellette, co-founder and chief executive of FRNT Financial. “On even the slightest positive news, whether ETF related or otherwise, Bitcoin is seeing very little resistance to the upside and is having the propensity to ‘gap.’ The dynamic speaks to the impressively strong price base Bitcoin has developed post-FTX.” Bitcoin rose as much as 2.5% to $37,465 on Friday. It climbed within a hair of $38,000 on Thursday, the highest price since May 2022. That was when the collapse of the TerraUSD stablecoin set off a chain of failures across the sector that culminated in the implosion of Sam Bankman-Fried’s FTX exchange a year ago from tomorrow. The US Securities and Exchange Commission is expected to approve a spot Bitcoin ETF by Jan. 10, according to Bloomberg Intelligence analysts. Bitcoin has surged almost 40% over the past four weeks on growing speculation that approval was imminent.

China have created a game of «catch me if you can» with US chip giant Nvidia and other companies, which affect the interests of both countries and will accelerate Chinese innovation, the Global Times newspaper said on Saturday. The chip industry newsletter SemiAnalysisas reported earlier that Nvidia plans to release new artificial intelligence chips aimed at the Chinese market less than a month after the US tightened rules on selling high-end AI chips to China.

The auspicious occasion of Diwali, the festival of lights, is a golden time for investors to purchase gold, property investment, or invest in other things. The celebration for the five-day Diwali festival started today, November 10, with Dhanteras. The festival will be followed by Chhoti Diwali on November 11, Diwali, the main festival, on November 12, Govardhan Puja on November 13, and Bhai Dooj on November 14.

gifting companies are feeling the freeze of the slowdown in the IT and IT-enabled services sector this Diwali season. IT/ITeS companies — which, with their huge workforces, are among the biggest spenders on Diwali gifts — have slashed their gift budgets by up to 50% and some have done away with gifting altogether, gifting companies such as PrintStop, IGP, Loopify and Swageazy told ET. «There's a blanket reduction in gift budgets. IT typically accounts for about 50% of our clients; there's been a 50% drop in their spends,» said Pratik Shah, cofounder of customised gifting company PrintStop.

Starlink, SpaceX's satellite internet division, has attained a state where its cash inflow matches its outflow. Starlink, recognized as the largest satellite enterprise globally, operates a constellation of around 5,000 satellites in low Earth orbit. The figures offer a unique insight into the financial workings of the enterprise led by Elon Musk.

Ambuja Cements, the cement and building material flagship company of the Adani Group, emerged as the top performer among group companies, achieving a stellar 1835% jump in its consolidated net profit, reaching ₹987 crore as compared to a net profit of ₹51 crore in the corresponding quarter of the previous year. Adani Power stood as the second top performer, reporting an 848% improvement in its consolidated net profit, reaching ₹6,594 crore compared to a net profit of ₹695.33 crore in the corresponding period of the last year, due to improved EBITDA, higher one-time income, and recognition of deferred tax asset.

Shares of DLF Ltd.(up 0.89 per cent), Brigade Enterprises Ltd.(up 0.78 per cent), Macrotech Developers Ltd.(up 0.55 per cent), Prestige Estates Projects Ltd.(up 0.54 per cent) and Godrej Properties Ltd.(up 0.13 per cent) ended the day as top gainers in the pack. On the other hand, Phoenix Mills Ltd.(down 1.64 per cent), Sobha Ltd.(down 0.72 per cent), Mahindra Lifespace Developers Ltd.(down 0.42 per cent) and Indiabulls Real Estate Ltd.(down 0.37 per cent) finished as the top losers of the day.

Brigade Group reported a significant jump in net profit and sales for the second quarter of FY24, with all business segments seeing high growth. The company’s reported total revenue of Rs 1,408 crore, a 54% jump in the second quarter of FY24 as compared to the same period last year, while the net profit more than double at Rs 134 crore in Q2 FY24. The company’s new bookings in the real estate segment in Q2 FY 24 is 1.67 mn sft valued at Ra 1,249 crore. The collections for Q2 FY24 stood at Rs 1,439 crore, an increase of 15%. «All business verticals contributed significantly to the growth of the company in Q2 of FY24.