Enterprise Financial News

reliance on energy generated from fossil fuels—the main cause of climate change. There is a need to prioritize transforming our energy systems and speeding the shift to renewable energy—because without renewables there is no future. And with this lens, one must view the recently announced Gujarat Government’s Renewable Energy Policy. This policy is nothing short of visionary and is poised to serve as a benchmark for replication in several other windy states across our country.

ISB-accelerated EV finance platform, Perpetuity Capital, has secured Rs 5 crore in debt from Clime Finance. Perpetuity Capital is an online platform that helps delivery drivers and autorickshaw drivers avail finance to purchase electric vehicles (EVs) for commercial use.

Tanla Platforms, India's largest CPaaS (communications platform as a service) provider, saw a significant jump in its shares, rising by 9.3% to reach ₹1,120 apiece, in Friday's trading session following the company's impressive Q2 FY24 results. At 11.45 AM, the stock was trading with a gain of 6.70% at ₹1,090. The company on Thursday reported a 19% YoY surge in revenue at ₹1,009 crore and 11% sequentially.

Prestige Estates Projects Ltd.(up 1.19 per cent), Phoenix Mills Ltd.(up 0.96 per cent), Mahindra Lifespace Developers Ltd.(up 0.65 per cent), Sobha Ltd.(up 0.33 per cent) and Brigade Enterprises Ltd.(up 0.2 per cent) were among the top gainers. Godrej Properties Ltd.(down 0.76 per cent), Oberoi Realty Ltd.(down 0.75 per cent), DLF Ltd.(down 0.5 per cent) and Macrotech Developers Ltd.(down 0.16 per cent) were the top losers on the index.

The Depository Trust & Clearing Corporation (DTTC) has signed an agreement to acquire Securrency, a digital asset infrastructure developer. The acquisition will allow DTCC to embed digital assets gradually in its existing products and services, it said. Terms of the deal were not disclosed. It is expected to close “within the next several weeks.”

₹19,229 crore in the year ended 31 March from the previous year, according to its regulatory filing with the ministry of corporate affairs’ registrar of companies on Thursday. Net profit for the year rose 30% to ₹649 crore, while employee benefit expenses increased 16.5% for the year to ₹1,411 crore. Microsoft’s growth in the country has been largely driven by a rise in revenue from its services offerings, its financial filings sourced by Mint through business intelligence platform Tofler showed.

NEW DELHI : HP Inc. has introduced a refurbished laptop programme in India, offering used but cost-effective computers for both retail consumers and businesses through HP-certified partners who will provide after-sales support. The programme, which has been launched for the Indian market, will be expanded to other markets in 2024, the company said in a statement Thursday.

DTCC says the deal, set to close within weeks, will position it as a leader in bridging best-in-class industry practices with advanced digital technology to encourage acceptance and adoption of digital assets. Securrency will become a fully-owned subsidiary of DTCC and will operate under the name DTCC Digital Assets. Nadine Chakar, CEO of Securrency, will lead the unit and be joined by around 100 other staffers. DTCC has a long history of exploring digital assets and distributed ledger technology.

VinFast's (NASDAQ:VFS) CEO, Le Thi Thu Thuy, has stated that the company anticipates the ongoing sales of electric cars and scooters to a connected ride service, owned by the founder, to persist throughout 2024.

Smarter Dharma, a sustainable solutions platform for real estate firms, has raised $500,000 in seed funding from Zerodha’s Rainmatter, Gruhas and Anthill Ventures, among others. The Bengaluru-based startup works towards reducing the carbon footprint of companies in the real estate sector.

Bitcoin ATMs has been continually falling over the past ten months, according to AltIndex.com. The CoinATMRadar data showed more than 1,500 ATMs supporting digital coins were removed in January, revealing the first signs of a negative trend. March saw an even bigger drop, with the number of Bitcoin ATMs falling by nearly 3,600 that month alone. After more than 2,300 new machines were added to the global Bitcoin ATM network in May and June — July brought the worst drop in 2023, the report said.

Apollo Hospitals Enterprises Ltd, Fortis Healthcare, Narayana Hrudayalaya, Global Health Ltd (Medanta) , Max Healthcare and others is focus. Better occupancy rates, improving average revenues per operating bed (APROB) are the key reasons which keep analysts positive on better performance by hospitals during Q2.

Globe-trotting sharemarket influencer Tyson “ASX Wolf” Scholz is being threatened with bankruptcy over a $450,000 debt to the corporate regulator.

Paradeep Phosphates(up 1.05%), Sikko Industries(up 0.67%), Khaitan Chemicals & Fertilizers(up 0.44%), Madras Fertlizers(up 0.43%), Rama Phosphates(up 0.39%) and Mangalore Chemicals & Fertilizers(up 0.14%) were among the top gainers. Coromandel International(down 1.17%), G S F C(down 1.14%), Nagarjuna Fertilizers & Chem(down 1.13%), Deepak Fertilizers & Petrochemicals(down 0.96%), National Fertilizer(down 0.78%), Agro Phos(down 0.76%), Chambal Fertilisers & Chemicals(down 0.75%), Southern Petrochemicals Industries(down 0.73%), Fertilizers & Chemicals Tranvancore(down 0.70%) and Aries Agro(down 0.51%) were among the top losers.

NIIF) is looking to sell its maiden portfolio of five road projects, worth around Rs 10,000 crore ($1.2 billion) on an enterprise value basis, sources aware of the development told ET. NIIF has appointed investment bank JP Morgan to run a sale process for the roads portfolio, the sources said. Formal conversations are yet to begin, added the sources mentioned above on the condition of anonymity as these discussions are still in private domain.

Brigade Enterprises has concluded the acquisition of a 9.72-acre land parcel in Hyderabad, with the transaction valued at about '660 crore. The acquisition came in the backdrop of an agreement made in August, when the company agreed to purchase the land in Neopolis area at a rate of '68 crore per acre through an e-auction conducted by the Hyderabad Metropolitan Development Authority.

Amazon Web Services has announced the preview of new capabilities added to its coding assistant Amazon CodeWhisperer that enables organisations to customise the tool to generate specific code recommendations from private code repositories. With this feature, developers who pay for Amazon CodeWhisperer Professional tier can now receive real-time code recommendations that include their internal libraries, APIs, packages, classes and methods, the company said in a blog. AWS promises the highest level of protection for these repositories.

Delhi Public School (DPS) in Siliguri, Jalpaiguri and Kolkata, is set to partner with a luxury hotel chain to start his first hospitality venture on six acres of land in Siliguri, a city in West Bengal on the foothills of the Himalayas. Agarwal's land parcel, surrounded by tea estates, is close to the Mayfair Resort in Siliguri. «Mayfair Resort has become a hub for destination weddings and I was amazed at the kind of business this resort was getting,» said Agarwal, who is chairman of the three DPS schools. From pharma companies and regional industrial groups to car dealers, school owners and book publishers in tier-2 and -3 markets, an increasingly diversified group of entrepreneurs across segments and sectors are taking the plunge in the hospitality industry. Last year, Mankind Pharma entered the sector with the Courtyard by Marriott Aravali Resort, and added The Westin Rishikesh Resort & Spa earlier this year.

Mumbai: Investors in the Indian stock market will soon have the opportunity to invest in a novel business enterprise, adding to the diversity of companies available in the market. Astrotalk, the online astrology consultation services provider, is currently in talks with growth and mid-size PE funds and family offices to raise up to $40 million (around ₹333 crore) as part of its pre-IPO funding round, valuing the company at $220 million, people familiar with the company’s plans said. The firm, backed by Kunal Shah’s Qed Innovation Labs, aims to go public in FY25, said Astrotalk CEO Puneet Gupta.

Fund II. The total corpus planned under the fund is Rs 1,500 crore with a greenshoe option of Rs 500 crore.

Alok Kumar Agarwal Alankit explains “I believe that women exhibit more receptiveness to outreach efforts. Traditionally they are entrusted with managing household budgets, if they are equipped with foundational knowledge, financial literacy tools, and opportunities for small-scale enterprises, women entrepreneurs have the potential to create a remarkable impact on their families and communities." According to mintgenie.com, the majority of Indians grapple with various financial difficulties, mainly stemming from a deficiency in financial knowledge and awareness.