Enterprise Financial News

NLC India(up 7.51%), Karma Energy(up 4.93%), Jyoti Structures(up 4.80%), Orient Green Power Company(up 4.70%), CESC(up 4.08%), Adani Power(up 2.50%), Gujarat Industries Power(up 2.36%), Tata Power Company(up 2.06%), NHPC(up 1.99%) and RTNPOWER(up 1.97%) stood among the top gainers. Jaiprakash Power Ventures(down 2.46%), GE Power India Limited(down 1.43%), Reliance Power(down 1.21%), Energy Development Company(down 1.06%), Transformers and Rectifiers(India)(down 1.05%), NTPC(down 1.02%), Inox Wind Energy(down 0.94%), Voltamp Transformers(down 0.74%), Kalpataru Projects International(down 0.68%) and Alstom T&D India(down 0.68%) were among the top losers of the day.

National Australia Bank, ANZ and Westpac have lifted interest rates for borrowers after the Reserve Bank raised the official cash rate by 0.25 of a percentage point on Tuesday to 4.35 per cent.

Payments infrastructure business Cuscal, which was vying to be 2023’s second-biggest IPO after Redox, has deferred its run at the ASX boards.

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BSE on Wednesday, November 8, after the company said US International Development Finance Corporation (DFC) will fund Adani’s joint venture (JV) in Sri Lanka, for $553 million. "US International Development Finance Corporation (DFC) has announced that it will be funding Colombo West International Terminal Pvt. Ltd.

ROX Hi-Tech IPO: The initial public offering (IPO) of small- and medium-sized enterprise (SME) ROX Hi-Tech opened for subscription on November 7 and will close on November 9. ROX Hi-Tech Limited is a customer-centric IT solutions provider. The company offers a comprehensive range of distributed IT solutions, including consulting, enterprise and end-user computing, managed print, and network services.

Fair trade regulator Competition Commission of India (CCI) has cleared Bharti Group's proposed 49 per cent stake purchase in Bharti AXA Life Insurance Co Ltd. Bharti AXA Life Insurance Company Ltd (BALIC) is involved in the business of providing life insurance policies. The deal relates to the acquisition of 49 per cent shareholding of Bharti AXA Life Insurance Company Ltd (BALIC) by Bharti Life Ventures Pvt Ltd (BLVPL) from AXA India Holdings.

India is looking at ways such as free trade agreements to enable domestic MSMEs to participate in public procurement of different countries, Commerce Secretary Sunil Barthwal said on Monday.

OpenAI introduced its latest AI model called GPT-4 Turbo, which is an upgraded version of its popular ChatGPT chatbot. This new model comes with enhanced capabilities for users to create customized versions of ChatGPT. One of the major announcements made by OpenAI was the reduction in prices for companies and developers who use their software.

Deepak Fertilizers & Petrochemicals(up 1.83%), Agro Phos(up 1.83%), Aries Agro(up 1.59%), Mangalore Chemicals & Fertilizers(up 1.40%), Khaitan Chemicals & Fertilizers(up 1.12%), Chambal Fertilisers & Chemicals(up 0.60%), National Fertilizer(up 0.36%), Coromandel International(up 0.24%) and Madhya Bharat Agro Products(up 0.14%) were among the top gainers. G S F C(down 2.11%), Krishana Phoschem(down 1.75%), Gujarat Narmada Valley Fertilizers (down 1.42%), Bohra Industries(down 1.03%), Southern Petrochemicals Industries(down 0.87%), Fertilizers & Chemicals Tranvancore(down 0.73%), ZUARIAGRO(down 0.72%), Madras Fertlizers(down 0.71%), Nagarjuna Fertilizers & Chem(down 0.61%) and Paradeep Phosphates(down 0.47%) were among the top losers.

On the BSE, SDC Techmedia(down 19.95 per cent), Tricom Fruit(down 19.66 per cent), Evoq Remedies(down 15.85 per cent), City Crops Agro(down 11.37 per cent) and Decorous Investme(down 10.00 per cent) were among the stocks that plunged over 5 per cent during the session. In the Nifty pack, 27 stocks traded in the green, while 22 stocks traded in the red.

KIOCL(up 4.99%), Pokarna(up 2.41%), NMDC Ltd(up 2.31%), Ashapura Minechem(up 2.22%), Oriental Trimex(up 1.48%), Lexus Granito(up 0.85%), Gujarat Mineral Dvpt Corporation(up 0.81%), Aro Granite Industries(up 0.41%), Madhav Marbles and Granites(up 0.39%) and Orissa Minerals Development Company(up 0.32%) were among the top gainers. MOIL(down 1.14%) and Sandur Manganese & Iron Ores(down 1.08%) were among the top losers.

By Krystal Hu and Anna Tong

OpenAI will enable ChatGPT users to build customised bots to handle specific tasks, and has slashed costs on more powerful models for developers, the artificial intelligence company said at its first developer conference on Monday. CEO Sam Altman shared the updates at the San Francisco event, which attracted 900 developers from around the world. This is OpenAI's latest attempt to capitalise on the popularity of ChatGPT by offering developers incentives to build in its ecosystem. ChatGPT, launched in November 2022, now has 100 million weekly active users, Altman said.

Ukraine's newly appointed head of defense industry says he wants to turn the country into a weapons hub for the West

IG Drones and L&T Technologies have united to usher in a groundbreaking solution. This extraordinary collaboration seamlessly integrates pioneering drone technology with intricate data analytics to deliver a profound enhancement to safety measures.

Jaiprakash Associates on Monday said it has defaulted on loans worth Rs 4,258 crore, including principal and interest amount. In a regulatory filing, Jaiprakash Associates Ltd (JAL) informed that the company has on October 31 defaulted on repayments of a principal amount of Rs 1,733 crore and interest of Rs 2,525 crore. The loans pertained to various banks, and the nature of the obligation is fund-based working capital, non-fund-based working capital, term loans and FCCB (foreign currency convertible bonds).

Shares of Prestige Estates Projects Ltd.(up 2.62 per cent), Sobha Ltd.(up 2.44 per cent), Godrej Properties Ltd.(up 2.19 per cent), Brigade Enterprises Ltd.(up 2.18 per cent) and Phoenix Mills Ltd.(up 2.16 per cent) ended the day as top gainers in the pack. On the other hand, DLF Ltd.(down 0.64 per cent) and Indiabulls Real Estate Ltd.(down 0.51 per cent) finished as the top losers of the day.

Let's explore the performance of these stocks. (Data Source: StockEdge) 1. Container Corporation of India 100-Day SMA: 687.85 | Closing Price: 713.75 2. Endurance Technologies 100-Day SMA: 1622.32 | Closing Price: 1669.45 3. Apollo Hospitals Enterprise 100-Day SMA: 5034.85 | Closing Price: 5153.2 4. Adani Ports and Special Economic Zone 100-Day SMA: 783.92 | Closing Price: 795.4 5. Eicher Motors 100-Day SMA: 3404.3 | Closing Price: 3428 6. Jubilant FoodWorks 100-Day SMA: 505.13 | Closing Price: 506.8 7. Indian Railway Catering and Tourism Corporation (IRCTC) 100-Day SMA: 661.94 | Closing Price: 663.6 8. Bharat Petroleum Corporation (BPCL) 100-Day SMA: 361.12 | Closing Price: 361.5 9. Interglobe Aviation (IndiGo) 100-Day SMA: 2509.08 | Closing Price: 2509.2 (You can now subscribe to our ETMarkets WhatsApp channel) (Disclaimer: This is an AI generated article.

Phoenix Mills, Oberoi Realty, Brigade Enterprises, and Macrotech Developers, attaining new record highs by maintaining their robust upward trajectory. Macrotech Developers stock has been on a remarkable winning streak since the company's Q2 FY24 results announcement on October 28. Over the past five trading sessions, the stock surged from ₹737 apiece to ₹849, marking a substantial gain of 15.20%.

Hindenburg's damning report on the Adani Group earlier this year led to the sudden pullout of a proposed share sale in the flagship Adani Enterprises and triggered a $150-billion wealth erosion for investors. Chairman Gautam Adani had said that the report was aimed at damaging the conglomerate's reputation and generating a profit by driving down its stock prices. The group companies have since recovered most of the losses in their share prices and the conglomerate is back to business as usual, but reverberations of the Hindenburg attack could be felt deeper and longer in different ways. One fallout of the attack by the short-seller seems to be Adani's reported plan to exit the fast-moving consumer goods (FMCG) business. The ports-to-renewable energy conglomerate is in talks with multiple multinational consumer goods companies to sell its entire 43.97% stake in Adani Wilmar Ltd, which owns the Fortune brand of edible oils and packaged grocery, executives familiar with the matter have told ET. Adani is expecting $2.5-3 billion for the stake in the joint venture with Singapore-based Wilmar International, which too owns 43.97% of the company, they said. A deal is likely to be finalised within a month, though neither of the companies has confirmed it. The product portfolio of Adani Wilmar includes brands such as Fortune, King's, Bullet, Raag, Avsar, Pilaf, Jubilee, Fryola, Alpha, Alife and Aadhar.