Enterprise Financial News

A British judge has ruled in favor of Richard Branson’s Virgin group in its lawsuit against a U.S. train company over a licensing agreement

Artificial intelligence might be driving concerns over people's job security — but a new wave of jobs are being created that focus solely on reviewing the inputs and outputs of next-generation AI models.

OECD has come out with a new multilateral convention to check base erosion and profit shifting to ensure that MNCs pay a fair share of taxes in the country of operation. «The… convention moves the international community a step closer towards finalisation of the Two-Pillar Solution to address the tax challenges arising from the digitalisation and globalisation of the economy,» OECD said in a statement.

Wipro Pari, the industrial automation business of Wipro Enterprises, announced it has signed a definitive agreement to acquire a significant majority share capital of Ferretto Automation and Services, a subsidiary of Ferretto Group based in San Polo — Reggio Emilia, Italy. Ferretto Group continues to hold a minority participation in the project; Riccardo Ferretto will be the chairman and managing director of the new company and will be responsible for the overall business activities. “Our industrial automation business has grown significantly in the last five years. We are already an acknowledged market leader in providing turnkey automation solutions for global automotive OEMs specifically in the emerging BEV – Battery Electric Vehicles and HFCV – Hydrogen Fuel Cell Vehicles.

MAGADHSUGAR(up 4.22%), Dalmia Bharat Sugar & Industries(up 3.42%), AVADHSUGAR(up 1.87%), Uttam Sugar Mills(up 1.43%), Triveni Engineering & Industries(up 1.41%), Simbhaoli Sugars(up 1.33%), DCM Shriram Industries(up 1.20%), Dhampur Sugar Mills(up 0.67%), Ponni Sugars(Erode)(up 0.61%) and Ugar Sugar Works(up 0.42%) stood among the top gainers. EID Parry(down 1.65%), Rajshree Sugars & Chemicals(down 1.10%), Kothari Sugars & Chemicals(down 1.03%), Balrampur Chini Mills(down 0.97%), KCP Sugar & Industries(down 0.92%), Mawana Sugars(down 0.89%), Vishwaraj Sugar Industries(down 0.84%), Bannari Amman Sugars(down 0.70%), Shree Renuka Sugars(down 0.46%) and Dwarikesh Sugar Industries(down 0.45%) were among the top losers of the day.

Hero Realty Pvt Ltd (HRPL), one of India’s leading real estate developers, today announced that it has entered into a new joint venture (JV) agreement with Saheb Enterprise to develop a premium multi-story complex on approximately 4 acres of land in Gurugram’s fast-developing 104 Sector. With this new project announcement, Hero Realty aims for at an additional Rs 1500 crore in the topline for the current fiscal, and a topline of Rs 5000 crore in the next couple of years.

GIFT Nifty on the NSE IX traded 16 points, or 0.08 per cent, higher at 19,846, signaling that Dalal Street was headed for positive start on Thursday. Here's a slew of stocks that will be in focus today for various reasons. TCS IT major TCS reported 9% growth in its net profit to Rs 11,342 crore.

NEW DELHI : Japan’s premier international cooperation and development agency, JICA, is interested in partnering with India in infrastructure projects in Southeast Asia, Africa and the Pacific, said JICA India chief Saito Mitsunori. He also pointed to JICA’s plans with the newly announced Bay of Bengal Northeast Corridor, which aims to build infrastructure in India and Bangladesh and construct a new industrial value chain.

undergraduate programmes will have to mandatorily do internships and they will be awarded credits for it, according to new draft guidelines of the University Grants Commission (UGC). The draft of the «Guidelines for internship and research internship for undergraduate students» was released on Tuesday in line with the National Education Policy (NEP) 2020 that emphasises the inclusion of research and internships in the undergraduate (UG) curriculum to provide opportunities to students for active engagement in on-site experiential learning.

On the BSE, Abans Enterprises (down 12.50 per cent), Gravity(India)(down 11.66 per cent), JLAInfraville&Shop(down 10.00 per cent), Leading Leasing Fin(down 9.94 per cent) and Mafia Trends(down 8.76 per cent) stood among the top losers in today's trade. In the Nifty pack, 39 stocks closed in the green, while 11 stocks ended in the red.

Werks – Iron Mountain data centres joint venture has acquired a four-acre land in Ambattur, Chennai, to house two new data centers (CHE-1 and CHE-2) to meet growing customer demand in the region. The two data centers will be built to Tier III standards. They will support 36 megawatts of IT load, further enhancing the company’s rapidly growing pan-India footprint, which will support more than 90 megawatts of new development across the key markets of Pune, Bengaluru, Noida, Mumbai and Hyderabad. “As Chennai is one of India’s most important connectivity hubs, we are thrilled to be building capacity to meet hyperscale, network, content, public sector undertakings and enterprise customer demand,” said Mark Kidd, EVP & Global General Manager, Iron Mountain Data Centers & Asset Lifecycle Management. Chennai is emerging as one of India's fastest-growing data center markets due to its strong interconnection with Singapore and the rest of Asia.

Adani Group and Gulf Asia Trade & Investment, a fund that is incorporated in the British Virgin Islands, news agency Reuters reported on October 11, citing sources who are privy to the development. The investigation has been launched to ascertain whether any share ownership rules were flouted, the report claimed, on the basis of inputs it received from two persons who are aware of the matter. The Gulf Asia fund, the report said, is owned by Dubai-based businessman Nasser Ali Shaban Ali as per the checks on its website last month.

Zee Entertainment Enterprises Ltd. gained 0.42 per cent to Rs 260.25 in Wednesday's trade. It hit a high of Rs 263.7 and low of Rs 259.4 during the session.

Religare Enterprises (REL) has been carefully unlocking its financial potential. The brokerage has initiated coverage on the stock with a buy call and a target price of ₹471, indicating a multibagger potential upside of almost 101 percent from its current market price of ₹234.40 (as on October 10). Ventura noted that REL is firing on all fronts and poised for robust financial growth and valuation re-rating in the near future.

Sikko Industries(up 9.72%), Aries Agro(up 3.06%), Rashtriya Chemicals & Fertilizers(up 2.01%), Southern Petrochemicals Industries(up 2.01%), ZUARIAGRO(up 1.89%), Fertilizers & Chemicals Tranvancore(up 1.40%), Deepak Fertilizers & Petrochemicals(up 1.39%), National Fertilizer(up 1.36%), Chambal Fertilisers & Chemicals(up 1.32%) and Madras Fertlizers(up 1.15%) were among the top gainers. Coromandel International(down 0.20%) were among the top losers.

Telstra plans to use its $267.5 million purchase of cloud computing specialist Versent to sell more services to international corporate and government customers as Australia’s biggest telco strengthens its digital services.

Bank of Baroda: The Reserve Bank of India (RBI) on Tuesday asked the Bank of Baroda (BoB) to immediately suspend further onboarding of customers onto their mobile app ‘bob World’. This ban comes after RBI found material supervisory concerns while onboarding customers onto the app. Any further onboarding of customers of the bank on the app will be subject to rectification of deficiencies observed and strengthening of the related processes, said an RBI release.

Another day, another battery deal. Street Talk can reveal Amp Energy, a Canadian renewable energy infrastructure player backed by global investment firm The Carlyle Group, is in the market searching for a buyer for its portfolio of local renewable generation and storage assets.

Tata Consultancy Services (TCS), disallowing a tax demand of more than Rs 600 crore, sources aware of the development told ET. The department had earlier probed TCS on Transfer Pricing (TP) adjustments to check if the transactions with its associated enterprises were at arm's length and whether TCS was liable for taxes on brand fees. The assessing officer (AO) for the assessment year FY14-15 had arrived at the assessed income of '18,752 crore. The transfer pricing officer (TPO) was of the view that the assessee is recognized as one of the big 4 in the technology industry and is a very powerful brand.

MUMBAI : Religare Enterprises Ltd’s board has commissioned an independent valuation report as it believes that the company is worth more than the price the Burman family has offered, a person with knowledge of the development said. On 23 September, the Burman family, which controls packaged goods company Dabur Ltd, offered to acquire an additional 5.27% stake in the financial services company for ₹407 crore, leading to a mandatory open offer to buy an additional 26% stake from the public. The deal has not closed and is awaiting regulatory approval.

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