Enterprise Financial News

Dwarikesh Sugar Industries(up 1.94%), Dhampur Sugar Mills(up 1.42%), Rajshree Sugars & Chemicals(up 1.37%), Mawana Sugars(up 1.22%), Rana Sugars(up 1.21%), MAGADHSUGAR(up 1.21%), Sakthi Sugars(up 1.19%), Vishwaraj Sugar Industries(up 1.18%), DCM Shriram Industries(up 1.15%) and EID Parry(up 1.09%) were among the top gainers. BAJAJHIND(down 0.89%) and Uttam Sugar Mills(down 0.79%) were among the top losers.

Amazon said it is giving its sellers new generative artificial intelligence advertising tools this holiday season, Shopify has to prove to investors that its AI products will spark growth when it reports results on Thursday. Wall Street is expecting it to show revenue growth of 22.38% to $1.67 billion compared to last year, according to estimates from LSEG.

NEW DELHI : German enterprise software firm SAP on Thursday launched a series of generative artificial intelligence (AI) tools and extensions for its enterprise resource planning (ERP) software suite, SAP Business Technology Platform. However, the company is yet to decide on a pricing strategy for its generative AI capabilities—some of which are not only expensive to build, but can also be costly to run and maintain. Kulmeet Bawa, president and managing director of SAP Indian subcontinent, said in an interview that the September quarter marked the 12th consecutive quarter for India being SAP’s fastest growing market globally.

Also Read: Nifty 50, Sensex today: What to expect from stock market indices in trade on November 2 Today, a handful of major companies will be releasing their Q2 results, including Adani Enterprises Ltd, Adani Power Ltd,Berger Paints India LtdGodrej Properties Ltd,Gujarat Gas Ltd, Indian Railway Finance Corporation Ltd, Tata Motors Ltd, Tata Motors Ltd - Dvr, Suzlon Energy Ltd, and Dabur India Ltd.

₹3,994 crore in the second quarter of FY24 led by lower commodity prices, operating leverage and volume ramp-up at Jaguar Land Rover (JLR), as per average estimates of six brokerages. The company’s India business performance was a mixed bag as commercial vehicle (CV) volumes grew 3.5% YoY while passenger vehicle (PV) volumes fell 3% YoY.

Adani Enterprises, Tata Motors, Adani Power, Dabur Shares of Adani Enterprises, Tata Motors, Adani Power, and Dabur will be in focus as the companies will announce their second quarter results. RIL Reliance Industries is considering raising Rs 15,000 crore through bonds, according to a report by Bloomberg. Hero MotoCorp The two-wheeler major's net profit jumped 47% year-on-year to Rs 1,054 crore in the September quarter. Read more:Here's the trade setup for today's session Triveni Turbine Triveni Turbine reported net profit of Rs 64 crore for the quarter ended September. Revenue from operations stood at Rs 388 crore. Fino Payments Bank Fino Payments Bank posted net profit of Rs 19.5 crore in the second quarter. JK Tyre JK Tyres net profit for the quarter ended September jumped multifold to Rs 242 crore.

US Fed outcome. Markets would react to the Fed's interest rate decision and economic data to be released during the day. «The comments from Chair Jerome Powell will take the spotlight as it will provide insights into Fed’s next move. Also, investors would watch out for BOE’s interest rate decision to be announced on Thursday,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS GIFT Nifty (Earlier SGX Nifty) signals a positive start GIFT Nifty on the NSE IX traded lower by 33.5 points, or 0.17 per cent, at 19,218.50, signaling that Dalal Street was headed for positive start on Thursday.

The U.K. government said Wednesday that it will invest £225 million, or $273 million, into an artificial intelligence supercomputer, highlighting the country's ambition to lead in the technology as it races to catch up to the U.S. and China.

iCap Enterprises Inc., a real estate investor and manager that raised $245 million from investors by selling through independent broker-dealers, declared bankruptcy near the end of September, and now clients who bought the high-risk securities are suing those firms.

DoorDash reported better-than-expected sales in the third quarter as it gained users and they ordered more frequently

₹1.72 trillion in Goods and Services Tax (GST) in October, a 13% increase from a year earlier, marking the second-highest monthly haul since the new tax regime debuted in 2017. Overall, GST receipts so far this year are in line with the 10.5% nominal GDP growth rate projected by the finance ministry and reflect the trends in tax administration efficiency as well as consumption. The average gross monthly GST collection in FY24 is ₹1.66 trillion, up 11% from FY23.

Crisil Ratings said in a note. Large enterprises are increasingly embracing cloud solutions, which is fuelling the surge in demand for data centres, the agency said, adding that rising usage and adoption of Over-The-Top (OTT) platforms is driving up retail data consumption. It said mobile data traffic alone has risen at an annual rate of 45 per cent over the last five years.

₹3,789.90 crore. “Owing to the improving asset quality, increase in lending rates and effective management of Finance Cost, REC is able to record its highest ever quarterly profit," the company said in a statement. During the same period last fiscal, the company had registered a net profit of ₹2,732.12 crore.

₹538 crore as part of its ongoing money laundering probe linked to Jet Airways. This includes more than a dozen residential flats, bungalows and commercial premises – located in London, Dubai and several Indian cities.

The NSE Nifty index closed 90.45 points down at 18989.15, while BSE Sensex ended down 283.6 points at 63591.33. On the other hand, Adani Enterprises Ltd.(down 3.37 per cent), Coal India Ltd.(down 2.42 per cent), SBI Life Insurance Company Ltd.(down 2.32 per cent), Asian Paints Ltd.(down 2.04 per cent) and Adani Ports & Special Economic Zone Ltd.(down 1.99 per cent) were among the top losers of the day.

Microsoft has started rolling out the next major update to its Windows 11 PC operating system with some new features. The main change in the new update (known as Windows 11, version 23H2) includes the name change of Microsoft Teams to Chat.

₹1,000 crore ($120 million) for its open-ended fund to invest in Indian equities. Kotak Iconic Fund, a category-III alternative investment fund (AIF), invests in equities with varied market capitalisation through diversified active and passive strategies. “The journey to ₹1,000 crore in AUM (assets under management) has been marked by unwavering dedication, resilience, and the trust of investors who have chosen Kotak Iconic as their preferred investment vehicle in the Indian equities space," said Lakshmi Iyer, chief executive officer, investments and strategy, Kotak Alternate Asset Managers.

GeM order volume: The public procurement platform of the government, Government e-marketplace, has crossed 30 lakh order volume in the current financial year. According to the data available on the marketplace at the time of filing this report, GeM had processed 30.38 lakh orders worth Rs 1.91 lakh crore in the current financial year so far. The share of micro and small enterprise sellers in the order value stood at 48.92 per cent.

Chinese tech giant Alibaba has launched a new AI model called Tongyi Qianwen 2.0. The company claims it to be more powerful and versatile than the similar AI models created by US tech giants like Meta, Amazon and Microsoft. The Tongyi Qianwen 2.0 along with new industry-specific models was announced by Alibaba at its annual flagship tech event Apsara Conference.

Domino’s Pizza Enterprises chief executive Don Meij says the company will spend this year “rebuilding”, telling shareholders at its annual meeting in Brisbane that a cost-cutting program was on track.

Westpac’s brand-new business banking boss Anthony Miller says the fate of many struggling small firms will hinge on the Christmas and new year trading period when consumers will absorb further potential tightening from the Reserve Bank next week.