Enterprise Financial News

Subscribe to enjoy similar stories. Corporate governance is central to the effective functioning of public sector undertakings (PSUs). To maximize board effectiveness, a careful balance must be maintained.

job seekers, especially new graduates, often apply to jobs blindly without even a cursory background research. Billionaire Harsh Goenka recently poked fun at this tendency. Taking to X on Tuesday, the business tycoon shared a picture of a rooster standing solemnly in front of a KFC (Kentucky’s Fried Chicken) outlet and pointed out the not-too-subtle irony. “When you know nothing about the company and go for an interview...” he wrote.

This data, sourced from a survey by myBiz, the SaaS-based corporate booking platform of MakeMyTrip, sheds light on gender representation in corporate travel. The analysis, which covers flight bookings made by nearly 3,000 corporate clients with more than 200 employees and an annual travel expenditure exceeding ₹1 crore, reveals valuable insights into corporate travel trends across sectors and cities.

Adani Enterprises are set to be in focus on Wednesday after the company’s real estate arm, Adani Properties Pvt Ltd (APPL), emerged as the highest bidder for the redevelopment of Motilal Nagar, one of Mumbai’s largest housing projects. The total redevelopment cost is estimated at Rs 36,000 crore. Sources told PTI that APPL surpassed its nearest competitor, L&T, by offering more built-up area than the latter. The Motilal Nagar project spans 143 acres in the western suburb of Goregaon (W) and includes the redevelopment of three separate parcels—Motilal Nagar I, II, and III.

Subscribe to enjoy similar stories. AI agents aren’t yet trusted by enterprises for high-stakes tasks like financial transactions or hiring new workers. OpenAI hopes that will start to change as its AI—especially its so-called reasoning models—improve.

Subscribe to enjoy similar stories. New Delhi: Sunil Mittal-chaired Bharti Airtel Ltd has inked a pact with Elon Musk-backed Starlink to offer satellite internet services in India, raising the stakes in the battle with Mukesh Ambani's Reliance Jio Infocomm Ltd. Starlink’s service will be marketed in India through Airtel.

Subscribe to enjoy similar stories. Global venture capital firm Bessemer Venture Partners expects artificial intelligence (AI) to disrupt its investment roadmaps, with a disproportionate share of its new $350 million India-dedicated fund likely to flow into opportunities in this new-age technology that promises to transform businesses.

Airtel partners Eutelsat OneWeb for satellite broadband, but the European competitor to Starlink uses a different satellite constellation that makes its services more expensive. Both services are way more expensive than terrestrial broadband services Airtel and competitor Reliance Jio offer in dense urban clusters. Yet, around 40% of Indians don't have internet access.

Roopesh Kumar, Head — Data Center Projects, Sify Infinit Spaces Ltd.

Subscribe to enjoy similar stories. For decades, software companies thrived on the XaaS (Everything-as-a-Service) model; products were unbundled into separate, recurring subscriptions. Software empires were built on this approach, offering cloud-based services for a monthly fee.

Nagarjuna Fertilizers and Chemicals Ltd.(up 2.95%), Krishana Phoschem Ltd.(up 2.42%), Bohra Industries Ltd.(up 1.99%), Aries Agro Ltd.(up 1.15%), Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 1.10%), Southern Petrochemicals Industries Corporation Ltd.(up 0.85%) and Madhya Bharat Agro Products Ltd.(up 0.55%) were among the top gainers.

Lexus Granito(India)Ltd.(up 2.73%), Pokarna Ltd.(up 1.47%), Oriental Trimex Ltd.(up 1.36%), Aro Granite Industries Ltd.(up 1.03%) and Sandur Manganese & Iron Ores Ltd.(up 1.03%) were among the top gainers.

Dangee Dums Ltd.(up 1.10%), Vadilal Industries Ltd.(up 1.06%), Jyothy Labs Ltd.(up 1.01%), Adani Wilmar Ltd.(up 1.01%), Dabur India Ltd.(up 0.94%), Britannia Industries Ltd.(up 0.79%), Nestle India Ltd.(up 0.77%), Colgate-Palmolive(India)Ltd.(up 0.52%), Hindustan Unilever Ltd.(up 0.50%) and Procter & Gamble Hygiene & Healthcare Ltd.(up 0.26%) were among the top gainers.

Sridhar Vembu, the chief scientist and founder of Zoho, believes that the current challenges in the software job market stem not from artificial intelligence replacing jobs—at least not yet—but from a deeper systemic issue. In a lengthy post on X, Vembu, who has been associated with the software industry for 30 years, said over the past few decades, enterprise software has accumulated massive inefficiencies due to an influx of venture capital, private equity, and IPO-driven funding. This overcapitalization led to an artificial expansion of the software industry, creating a market bloated with duplicated IT systems, excessive hiring, and misplaced incentives, he said. One of the primary drivers of this inefficiency, Vembu said, has been aggressive marketing by software vendors, adding that cCompanies have long relied on tactics that instill fear, uncertainty, and doubt (FUD) in corporate customers, pushing enterprises to increase their IT spending without necessarily improving efficiency. «Software vendors applied liberal doses of marketing spending to spread Fear (of missing out) and Uncertainty (»tech is changing, you need us") and Doubt («are you confused? trust us») among corporate customers and the result was ever growing IT spending," he said.

«With about three crucial weeks to go, it may go up to ₹66,000-67,000 crore this fiscal if all goes well, way above the revised estimate of ₹55,000 crore,» he said. The collection had hit a record ₹63,749 crore in 2023-24. The entities include all the non-financial central public sector enterprises (CPSEs) and those in which the government holds minority stakes.

Umang Dairies Ltd.(up 4.30%), Future Consumer Ltd.(up 3.71%), LT Foods Ltd.(up 2.23%), Vadilal Industries Ltd.(up 2.20%), Dangee Dums Ltd.(up 2.02%), Emami Ltd.(up 1.94%), Hindustan Unilever Ltd.(up 1.89%), Colgate-Palmolive(India)Ltd.(up 1.83%), Mrs. Bectors Food Specialities Ltd.(up 1.68%) and Nakoda Group Of Industries Ltd.(up 1.42%) were among the top gainers.

Elon Musk and make handsome profits without irking Donald Trump, reports say. Wealthy investors from China are channeling tens of millions of dollars into private enterprises under billionaire Elon Musk's control, through a strategy that keeps their identities concealed, Reuters reported on March 9 citing the Financial Times. This influx of capital is being funneled through special-purpose vehicles to circumvent the scrutiny of U.S. authorities and companies that are cautious about Chinese investment amid strained relations between the two nations, according to asset managers and investors involved in these deals.

Religare Enterprises has withdrawn its appeal at the NCLAT against a competition watchdog CCI order that allowed four Burman group entities to acquire a 5.27 per cent stake in the financial services firm. The move comes after the Burman Family, through its investment firms, gained a controlling stake in Religare Enterprises Limited (REL) after acquiring 25.16 per cent of equity shares through an open offer. The total holding of Burman family, which also owns FMCG firm Dabur and Eveready, now exceeds 50 per cent, consolidating their position as the largest shareholders in the company. During the proceedings, the «authorised signatory for Appellant (Religare) is present and submits that he is under the authorisation to say the Appellant is not interested in pursuing the matter and intends to withdraw this appeal», the NCLAT order said.

API.market, runs a marketplace for artificial intelligence (AI) model application programming interfaces, with 3,100 customers across the world, and makes an annual recurring revenue (ARR) of $200,000. He is also building Noveum.ai, an evaluator of large language models for enterprise use, which is currently in beta stage. Till October 2024, Agarwal was building the marketplace alone. His team has grown since—by all of two people, another co-founder and engineer, and he is now looking to hire three more engineers. He added that it is quite common for a small team of up to 20 people in an AI startup to get to $5-10 million ARR. Agarwal is part of an emerging crop of startups that are focusing on leaner teams by leveraging AI across their operations to cut costs and stay the course. Many such companies are borrowing from the playbook of Silicon Valley startups that are clocking millions in revenues with bare-bones teams. For instance, coding assistant Cursor hit a $100 million ARR with a team of 20 people.

Anand Mahindra has once again highlighted an inspiring Indian success story, demonstrating how small-town entrepreneurs are emerging as global business powerhouses. In a recent tweet, the Chairman of Mahindra & Mahindra shared a video showcasing Morbi, a town in Gujarat, and its dominance in the ceramic industry. The video details how Morbi, covering just 50 by 9 km, has become a global ceramic hub, producing 90 per cent of India's ceramics. According to the video, nearly 1,000 family-owned factories in Morbi have been manufacturing tiles and ceramics since the 1930s, successfully competing with China's pricing and matching Italy’s quality. The video states that these businesses collectively control 13 per cent of the world's ceramic production, creating an industry worth thousands of crores and employing approximately four lakh people.

According to a stock exchange notice today (7 March), the conditional tender offer will be based on the trust's net asset value (NAV) total return underperforming against its reference index, which is currently the Vietnam Ho Chi Minh Stock index (VN index), over the five-year period to 31 March 2030.  While the board said it «has confidence» that the trust's investment manager will be able to outperform the index over the coming five years, if the performance falls below this index, shareholders will be able to realise up to 100% of their interests in the vehicle.  Baillie Gifford Ch...