Enterprise Financial News

This is part of a series of interviews with the winners of The Economic Times Startup Awards 2023. Indian markets may come across as an ideal option for many software players to go public as the bar for listing in the US gets higher and investors here open up to technology-based listings, Jishnu Bhattacharjee, managing director of Nexus Venture Partners, said.

Octopus Investments Australia, a renewables player backed by superannuation big-wigs Hostplus and Rest Super, has acquired Queensland’s largest proposed battery project, which is expected to have an $800 million enterprise valuation when it is up and running.

₹153.6 crore, according to Tuesday’s volume-weighted average price of Adani Enterprises. "This strategic increase reflects IHC's conviction in the world-leading incubation model of AEL," IHC said in a statement to the Abu Dhabi stock exchange. IHC also highlighted the inherent strength of AEL's airports, data centers, green hydrogen and other businesses, and its ability to capitalize on India's robust growth journey.

For many consumers, dealing with certain industries — including finance and real estate — is a frustrating experience due to the vast amount of paperwork and red tape that comes with carrying out a transaction. Not surprisingly, the crypto industry has a tech-forward solution: tokenization. By representing real-world assets such as real estate, art, stocks and bonds — essentially, anything — as tokens on a blockchain, transactional parties can more easily trade, transfer and manage assets. The percentage of tokens owned by an individual represents their percentage stake in the underlying asset. 

Saraswati Saree Depot, Exicom Tele Systems, and Vibhor Steel Tubes — have filed their draft prospectus papers with Sebi to launch their respective IPOs. Saraswati Saree Depot The IPO of Saraswati Saree Depot includes a fresh issue of 72.45 lakh shares and an offer for sale (OFS) of 35.5 lakh shares. Under the OFS, promoters Tejas Dulhani, Amar Dulhani, Shevakram Dulhani, Sujandas Dulhani, Tushar Dulhani, and Nikhil Dulhani will offload shares. The offer is being made through the book-building process where 75% of the issue is reserved for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors. Saraswati Saree Depot is a key player in the sarees wholesale (B2B) segment, and its origin in the sarees business dates back to 1966. It is also engaged in the wholesale business of other women’s apparel wear such as kurtis, dress materials, blouse pieces, lehengas, bottoms, etc. On average, more than 90% of the company's total revenues are generated from the sale of sarees.

Bharti Enterprises vice chairman Akhil Gupta has said cash-strapped Vodafone Idea’s survival is vital for growth of India’s biggest telecom tower company, Indus Towers, in which Bharti Airtel is the biggest stakeholder. Gupta also expects a combination of higher data consumption and fixed wireless services to drive 5G monetisation for India’s top telcos in the near-term. “Indus’s growth will be dependent on Vi catching up on 4G investments and eventually rolling out 5G…hence survival of Vi is important for Indus’ growth prospects,” JP Morgan quoted Gupta as saying in a recent investor summit hosted by the global brokerage. Loss-making Vi has been struggling to raise funds needed to pay vendors and the government, expand its 4G coverage and invest in its pending 5G rollout to compete effectively with bigger rivals Reliance Jio and Bharti Airtel. Vi’s chief executive Akshaya Moondra though recently told the Department of Telecommunications (DoT) that the company had made significant progress in its ongoing talks with several groups of investors to raise equity and equity-linked capital, and had term sheets from some potential investors. But the telco is yet to close its fundraise. JP Morgan quoted Bharti’s Gupta saying that India “needs three fully functional private operators,” which is why the survival of Vi was important.

The rise of generative AI within companies often starts at the top with chief executives, making it different from other business tech booms typically led by technologists. Given the active role of CEOs, generative AI pilots stand to get ample resources, but the pressure to meet expectations creates a unique challenge, according to chief information officers, the executives who bridge business and technology leadership.

International Holding Co (IHC) on Tuesday said that it has increased its stake in Adani Enterprises to above 5%. “This strategic increase reflects IHC's conviction in the world-leading incubation model of AEL and we believe that the inherent strength of Airports, Data Centers, Green Hydrogen, and various other verticals being incubated under AEL and that AEL is poised to uniquely capitalise on India’s robust growth journey,” the company said in a statement. IHC continues to explore unique investment opportunities in India with the goal to maximise stakeholders’ return. As of June end, IHC, through its subsidiary Green Enterprises Investment Holding Rsc Ltd, held a 3.53% stake in Adani Enterprises. While IHC increased its stake in the Adani Group’s flagship company, the company, last week, announced plans to sell its stakes in two other group firms – Adani Green Energy and Adani Energy Solutions. IHC’s decision to sell off the stake in the two Adani firms is part of the company’s plan to rebalance its overall portfolio strategy. As of June end, IHC through its arm Green Transmission Investment Holding held a 1.4% stake in Adani Energy Solutions. Green Energy Investment Holding held a 1.3% stake in Adani Green Energy. In 2022, IHC invested close to $2 billion in three Adani Group firms — Adani Green Energy, Adani Energy Solutions, and Adani Enterprises.

Golden Crossover is and analyze 10 stocks handpicked by ETMarkets that have recently exhibited this pattern. The Golden Crossover is a popular technical analysis pattern used by traders and investors to identify potential shifts in stock trends. This pattern occurs when a short-term moving average crosses above a long-term moving average. Now, let's explore the 10 stocks that have recently experienced the Golden Crossover: 1) Adani Enterprises Ltd. 50-Day SMA: Rs 2498 200-Day SMA: Rs 2444 2) Adani Ports & Special Economic Zone Ltd. 50-Day SMA: Rs 804.2 200-Day SMA: Rs 728.2 3) Apollo Hospitals Enterprise Ltd. 50-Day SMA: Rs 5011.2 200-Day SMA: Rs 4691.2 4) Asian Paints Ltd. 50-Day SMA: Rs 3280.6 200-Day SMA: Rs 3076.2 5) Axis Bank Ltd. 50-Day SMA: Rs 978.6 200-Day SMA: Rs 924.1 6) Bajaj Auto Ltd. 50-Day SMA: Rs 4797.7 200-Day SMA: Rs 4300.6 7) Bajaj Finance Ltd. 50-Day SMA: Rs 7339.1 200-Day SMA: Rs 6671.5 8) Bajaj Finserv Ltd. 50-Day SMA: Rs 1534.7 200-Day SMA: Rs 1450.6 9) Bharat Petroleum Corporation Ltd. 50-Day SMA: Rs 359.4 200-Day SMA: Rs 351.9 10) Bharti Airtel Ltd. 50-Day SMA: Rs 886.6 200-Day SMA: Rs 821.3 (Disclaimer: This is an AI-generated article.

field crops like rice, wheat, and sugarcane have been the backbone of Indian agriculture for centuries, there is a growing realization that vegetable farming holds immense potential to boost India's GDP and overall economic health. «Vegetable farming holds distinct advantages for smallholders in India, especially compared to traditional field crops.

JSW Cement, the building-materials business of steelmaker JSW Group, is in initial talks with Germany's Heidelberg Materials to acquire the latter's 13.4 million-tonne-a-year cement businesses in India, industry sources aware of the talks told ET. The people cited above said the discussions, currently bilateral, began after the JSW Group made an unsolicited offer to acquire Heidelberg's local entities that primarily have capacities in peninsular India. The world's second-biggest cement market, both by capacity and consumption, India has a highly regional and freight-intensive building-materials industry where manufacturing proximity to the end consumption market often determines profitability-linked enterprise valuation multiples in mergers and acquisitions. To be sure, Heidelberg is yet to take a final call on its India exit strategy and according to the people cited above, it is possible that it may eventually decide to opt for a bidding process for the assets to allow other potential buyers to participate and increase competitive intensity for the plants. A Heidelberg Materials spokesperson declined to comment, while the JSW Group did not respond to ET's email seeking comments. Holcim Exit If concluded, it will mark the exit of a second global cement manufacturer from India after Swiss building materials company Holcim Group exited India in 2022, selling Ambuja Cements and ACC to the Adani Group in a closely contested bidding in which JSW Group had also participated. Heidelberg has more than 13 million tonnes per annum (MTPA) cement making capacity in India, of which 6.3 MTPA is with the listed entity HeidelbergCement India, and 7.1 MTPA is with the closely held Zuari Cement.

This is part of a series of interviews with the winners of The Economic Times Startup Awards 2023. Unable to keep up with the fundraising capabilities of rivals Grofers (now Blinkit) and BigBasket, Mukesh Singh and the other two cofounders of ZopNow took the tough decision to shut their seven-year-old consumer-facing grocery-delivery platform in 2018. Singh and his cofounders, Raj Pandey and Vikash Kumar, bought out their investors with their personal capital and transitioned ZopNow to a business-to-business (B2B) enterprise, offering its omnichannel retail expertise to retailers globally under a new name, ZopSmart.

NEW DELHI : The European Union’s (EU’s) carbon tax—the Carbon Border Adjustment Mechanism (CBAM)—came into effect on 1 October, causing a wedge between developing and developed countries. Interestingly, it is facing resistance from even within Europe. Mint explains.

Click here! This acquisition will also mark the return of Nimmagadda Prasad to the pharma industry after a 17-year hiatus. Prasad has been a serial entrepreneur having developed significant businesses (Matrix Laboratorties and CARE Hospitals) to scale and creating enhanced shareholder value.

Finance Minister Nirmala Sitharaman, apex exporters' body Federation of Indian Export Organisations (FIEO) requested for the extension of Emergency Credit Linked Guarantee Scheme (ECLGS) till March 31, 2024 and restoration of interest subsidy benefit of 5 per cent to manufacturer MSMEs. It said some of the MSME sectors are affected due to a dip in exports on account of a global demand slowdown. FIEO has urged extending the ECLGS «till March 31, 2024» as it will help micro, small and medium enterprises sail through this difficult time and bounce back when the situation improves.

Gautam Adani's group is planning to build 10 GW of integrated solar manufacturing capacity by 2027, as it looks to capture energy transition business, sources close to the company said. Adani Group currently has a solar manufacturing capacity of 4 GW.

₹1.2 trillion worth of projects were announced by companies during the July-September period, compared to ₹6.6 trillion in the preceding quarter. This marked a whopping decline of 82% since the June quarter, and 77% since the same quarter a year ago. The figures are provisional and may be updated later.

IQuest Enterprises, a multi-sector investment company, on Monday said it has entered into a definitive agreement to acquire the API (active pharmaceutical ingredient) operations of global pharmaceutical major Viatris in India.A press release from IQuest said it emerged as the preferred investor following a global competitive bid.

MAS Financial Services, a micro, small and medium enterprises (MSME) financer, has gained 16% over the past three months compared with the 1.4% gain in the S&P BSE Financial Services index. The company has been reporting healthy growth momentum in loan assets and a stable asset quality. With a focus on direct distribution, the lender expects to double the loan book every three-four years.

Viatris Inc. (formerly Mylan Inc.), a global healthcare company, will sell its Active Pharmaceutical Ingredients (API) business in India to Hyderabad based Iquest Enterprises, stated a company statement. Iquest Enterprises is owned by Nimmagadda Prasad, Andhra Pradesh based industrialist and founder of Matrix Laboratories.

Aman Soni, Head of Operations at Prudent Equity. He says investors should consider maintaining some unallocated capital that can be readily deployed when lucrative opportunities arise. Moreover, he finds attempting to predict whether a rate cut will occur in the first or second half of 2024 a futile exercise.