Enterprise Financial News

The financial services sector is set for substantial growth in the next few years as several factors converge.

Shares of Macrotech Developers Ltd.(up 4.73 per cent), Oberoi Realty Ltd.(up 1.68 per cent), DLF Ltd.(up 1.43 per cent), Godrej Properties Ltd.(up 0.55 per cent) and Brigade Enterprises Ltd.(up 0.19 per cent) ended the day as top gainers in the pack. On the other hand, Prestige Estates Projects Ltd.(down 2.33 per cent), Indiabulls Real Estate Ltd.(down 1.38 per cent), Mahindra Lifespace Developers Ltd.(down 0.55 per cent) and Sobha Ltd.(down 0.38 per cent) finished as the top losers of the day. The Nifty Realty index closed 1.06 per cent up at 576.2. Benchmark NSE Nifty50 index ended up 46.1 points at 19574.9, while the BSE Sensex stood up 152.12 points at 65780.26. Among the 50 stocks in the Nifty index, 33 ended in the green, while 17 closed in the red. Shares of Indian Railway Fin, YES Bank, JP Power, Vodafone Idea and Suzlon Energy were among the most traded shares on the NSE. Shares of Vishnu Prakash R Pun, MMTC, Century Extrus, Indian Card Clothing and KIOCL hit their fresh 52-week highs in today's trade, while Bombay Metrics Suppl, Shrenik, Penta Gold, Sanco Industries and Allcargo Terminals hit their fresh 52-week lows.

Indowind Energy(up 4.92%), JSW Energy(up 4.17%), NHPC(up 2.73%), Reliance Power(up 1.28%), PTC India(up 1.21%), NLC India(up 1.02%), Voltamp Transformers(up 0.94%), GE Power India Limited(up 0.85%), Hitachi Energy India(up 0.56%) and Alstom T&D India(up 0.49%) stood among the top gainers. RTNPOWER(down 4.51%), KPI Green Energy(down 2.78%), KEC International(down 2.64%), Inox wind(down 2.50%), CESC(down 2.19%), Suzlon Energy(down 2.07%), Transformers and Rectifiers(India)(down 1.64%), SJVN(down 1.54%), Jaiprakash Power Ventures(down 1.16%) and Orient Green Power Company(down 1.08%) were among the top losers of the day. The NSE Nifty50 index ended 46.1 points up at 19574.9, while the 30-share BSE Sensex closed up 152.12 points at 65780.26. Apollo Hospitals Enterprise Ltd.(up 3.3%), Coal India Ltd.(up 3.04%), Sun Pharmaceutical Industries Ltd.(up 2.07%), Bharat Petroleum Corporation Ltd.(up 1.59%), Bajaj Auto Ltd.(up 1.38%), ITC Ltd.(up 1.28%), Titan Company Ltd.(up 1.15%), LTIMindtree Ltd.(up 1.12%), Bajaj Finance Ltd.(up 1.02%) and Nestle India Ltd.(up 0.99%) stood among the top gainers in the Nifty pack. On the other hand, UltraTech Cement Ltd.(down 1.48%), Dr.

«There is a long runway in this. That long runway that we are going to see is what excites everybody who wants to play this category. So we have great governance, we are fast growing, we are profitable and profits are growing faster,» says Mithun Sacheti, MD & CEO, Caratlane.What are you thoughts on your current performance?Actually the enterprise value now also will be closer to Rs 18000 cr not Rs 17,000 cr. Most people do not have that figure right as well because that is the equity value of the business. A business which grows at 50% plus for five years in a row and has become as qualitatively profitable as we are right now, where governance standards are that of a listed entity like Titan. We have caught it by the tail and we are sort of riding that. There is a long runway in this. That long runway that we are going to see is what excites everybody who wants to play this category. So we have great governance, we are fast growing, we are profitable and profits are growing faster.

OpenAI, a pioneering firm in artificial intelligence. The Indonesian immigration authority issued a 10-year visa to Altman, acknowledging his global renown and potential contributions to the nation. Indonesia's Immigration Director General has said that Altman "has an international reputation and may bring benefits to Indonesia", Bloomberg reported.

The NSE Nifty index traded 43.6 points up at 19572.4, while BSE Sensex was up 138.01 points at 65766.15 as of 10:50AM(IST)on September 05. In the Nifty index, Apollo Hospitals Enterprise Ltd.(up 2.41 per cent), Bharat Petroleum Corporation Ltd.(up 1.83 per cent), Grasim Industries Ltd.(up 1.56 per cent), Oil And Natural Gas Corporation Ltd.(up 1.48 per cent) and LTIMindtree Ltd.(up 1.48 per cent) were among the top gainers. On the other hand, Dr.

Will Vicars’ hedge fund Caledonia has told its well-heeled investors they have a historic opportunity to hold and top up on shares in one of its most controversial investments, North American real estate platform Zillow, despite deep turmoil in the property market.

IFCI is in the process of selling a rupee term loan of the Barwa Adda Expressway project, aiming to recover 45% of the debt. The lender has put up the ₹290 crore debt for sale, with a reserve price of ₹130 crore based on a binding offer from Asset Care & Reconstruction Enterprise Limited (ACRE) ARC.

Shriram Finance Ltd was born. Shriram Capital, Shriram Transport Finance Company and Shriram City Union Finance merged, creating one of the largest domestic non-bank financiers. Today, it is the No.

small and medium enterprises. Simultaneously, the share of farmers went up from 23.2% to 27.6%, indicating reverse migration from urban to rural India. This trend also reveals the darker side of our growth story, as it does show that job creation has lagged in urban regions and not kept pace with economic growth.

By Gibran Naiyyar Peshimam

IDBI Bank. The government and the LIC are selling about 61% stake in IDBI Bank and multiple expressions of interest (EoI) for the same have been received. The Department of Investment & Public Asset Management (DIPAM), on behalf of the government and LIC, on Monday floated a request for proposal (RFP) to engage a “reputed Asset Valuer Entity -registered with Insolvency & Bankruptcy Board of India (IBBI), to act as the Asset Valuer for undertaking the IDBI Bank assets' valuation and provide requisite assistance in the process of strategic disinvestment of IDBI Bank, till the completion of the transaction." “The contract (of asset valuer) in respect of the assignment shall be initially valid for a period of 3 (three) years from the date of issue of appointment letter and shall be extendable by 1 (one) more year on existing terms and conditions," the RFP said.

RBI innovation. He was all praises for the RBI's latest pilot project. He took to X, (formerly known as Twitter) to share a demonstration video of RBIs Public Tech Platform for Frictionless Credit (PTPFC) pilot project.

renewable energy and agriculture. “The policy rhetoric of extending more support to private enterprises is encouraging, but concrete measures and a more predictable, rule-based and well-communicated regulatory framework is needed before their confidence is restored to borrow and invest," CreditSights’ Zeng said.

Liminal, a digital asset custody provider, has announced the launch of its Whitelabel Custody Solution. This offering seemingly allows Web3.0 enterprises to manage digital assets.

Indian Bank has partnered with OneCard to introduce state-of-the-art, mobile-first, contactless, metal cobranded credit cards, OneCard said in a release today. OneCard is a metal credit card designed exclusively for mobile use that FPL Technologies launched and manages in collaboration with issuer banks.

Gati Ltd., part of the Allcargo Group and a logistics and supply chain solutions provider, has partnered with Tech Mahindra to develop Gati Enterprise Management System (GEMS) 2.0. Gati's core operational software system, GEMS 2.0, aims to offer an enhanced customer experience and a modern tech-driven interface while increasing efficiency and lowering costs.

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«We stabilised our opex infrastructure to deliver almost Rs 500-600 crore a month and our capacity is much larger but this is where we want to remain stable for at least first three quarters of the year and we are doing that,» says Shachindra Nath, UGRO Capital.Well, we have been seeing stellar numbers from you in the last many quarters but talk to us about how Q2 is panning out in terms of the disbursement momentum, in terms of the demand on the ground.We stabilised our opex infrastructure to deliver almost Rs 500-600 crore a month and our capacity is much larger but this is where we want to remain stable for at least first three quarters of the year and we are doing that. So, I think that this quarter is panning out to be exactly similar as the last Q1 for us.

IDFC First Bank jumped 5.4% to hit a 52-week high of Rs 98.5 in Monday's trade on BSE after US-based GQG Partners bought a stake in the private lender through bulk deals on Friday. According to exchange data, GQG Partners has picked up 17.1 crore shares or 2.58% stake in the lender for about Rs 1,527 crore. The transaction was done at Rs 89 apiece. Meanwhile, Warburg Pincus affiliate Cloverdell Investment has sold a 4.2% stake in the company.

OpenAI has released a new guide to assist teachers in effectively using its AI chatbot, ChatGPT, in the classroom. The guide includes suggested prompts, explanations of ChatGPT's operation and limitations, information on AI detectors' effectiveness, and discussions on biases. "We’re releasing a guide for teachers using ChatGPT in their classroom -- including suggested prompts, an explanation of how ChatGPT works and its limitations, the efficacy of AI detectors, and bias," stated OpenAI in a blog post.