Enterprise Financial News

Check out the companies making headlines before the bell.

Online insurance players may be the first to face the heat after Jio Financial Services’ proposed foray into the insurance space. Jio Financial Services will foray into the insurance space to offer life, general and health insurance products “through a seamless digital interface”,  Mukesh Ambani told shareholders during  Reliance Industries’ annual general meeting.

The substantial impact of achieving financial independence on personal economic well-being is exerting a profound influence on India’s economy. As a rapidly developing nation with a burgeoning middle class, nurturing financial independence among its citizens is anticipated to play a pivotal role in fostering sustainable economic progress.

Securities Appellate Tribunal (SAT) on Wednesday directed the Securities & Exchange Board of India (Sebi) to file its response by September 4 in an appeal filed by Punit Goenka, the promoter of Zee Entertainment Enterprises Limited (ZEEL). The tribunal will now hear the matter on September 8. Goenka, who is the MD and CEO of ZEEL, approached the appellate tribunal through the law firm Economic Laws Practice (ELP) to challenge the capital market regulator’s confirmatory order barring him from holding any directorship or managerial position in any listed company or their subsidiaries. The ZEEL chief has submitted that the capital market regulator’s order be set aside. The division bench, comprising Justice Tarun Agarwala and technical member Meera Swarup, while allowing Sebi to file its response by September 4, observed that it is not satisfied with Sebi’s timeline of eight months to complete the probe against the alleged wrongdoings by the ZEEL promoters. The regulator had said in its order that it would complete the probe against ZEEL promoters within eight months from the order's issuance date. «The merger has happened with the consensus of the shareholders.

cryptocurrency markets were trading higher in Wednesday's trade. Bitcoin (BTC) rose 5.5% to $27,450, whereas Ethereum (ETH) was above the 1,700 level. Meanwhile, the global cryptocurrency market cap was trading higher, around $1.09 trillion, rising 4.22% in the last 24 hours. «Bitcoin neared two-week highs as news hit that digital asset manager Grayscale had won a lawsuit against United States regulators. The markets reacted instantly, gaining $1,700 in around 30 minutes,» said CoinDCX Research Team. «A ruling by the United States Court stated that the U.S. The Securities and Exchange Commission (SEC) was wrong to reject an application by Grayscale to launch an exchange-traded fund (ETF) using the Bitcoin spot price as its basis,» CoinDCX Research Team added.

Zee Entertainment Enterprises Ltd were diverted to private entities owned and controlled by these people. Refusing relief, Sebi chairperson Madhabi Puri Buch said: “The two notices shall not hold a position of a director or a key managerial position in Zee group entities.

Zee Entertainment Enterprises Ltd. traded at Rs 266.55 on BSE at 01:29PM (IST) on Wednesday, up 0.66 per cent.

Moneycontrol, the case has been scheduled for a conclusive hearing on September 8. Punit Goenka, the former CEO of Zee Entertainment Enterprises Ltd (ZEEL), has challenged a Sebi ruling that prohibits him from occupying directorial or significant managerial roles within the company and other entities. The appellate tribunal further said that it is not satisfied with the amount of time taken by Sebi for investigation.

Eureka AI has partnered with Google Cloud to enable Operators globally to deploy Eureka’s AI Platform and suite of Analytics products to improve revenues and profitability. Telecom analytics is the telecom specific set of data intelligence processes employing which communication service providers (CSPs) collect, process and analyse large data volumes. This partnership of the telecom analytics as-a-service platform with Google Cloud allows Operators to offer their B2B enterprise partners Eureka AI’s highly scalable and privacy secure suite of products that help them to grow their digital business and financial inclusion. These products include:

SAT) on Wednesday refused to provide an interim relief to Punit Goenka, former chief of Zee Entertainment Enterprises Ltd, in SEBI case, reported ET NOW. It has given time to markets regulator, SEBI, till September 4, 2023, to file a reply on the matter. The next hearing has been scheduled for September 8, 2023. Goenka had moved the SAT against a SEBI order barring him from holding key positions in four Zee group firms and in the merged entity of ZEEL and Sony Pictures Networks India.

OpenAI is on track to generate more than $1 billion in revenue over the next 12 months from the sale of artificial intelligence software and computing capacity that powers it, the Information reported on Tuesday. Earlier, the ChatGPT maker projected $200 million in revenue for this year.

Sensex and Nifty closed higher on Tuesday, marking their second straight day of gains amid buoyancy of the global market in anticipation of no further Fed rate hikes. Stocks that were in focus included names like RCF, which rose 2.58%, SJVN, which gained 1.23%, and Piramal Enterprises, whose shares declined 4.30% on Tuesday. Here's what Viral Chheda, Sr Technical Analyst at SSJ Finance & Securities, recommends investors should do with these stocks when the market resumes trading today:RCF — BuyIn the daily chart price has witnessed an upside rally from low of 89.50 to a high of 119 odd levels. During the upside rally price has made the higher top higher bottom pattern as bulls were having upper hand on bears. At higher level price gave some correction till 105 to take the support of previous bottom and after consolidating around lower level price gave sharp upside rally to make new highs of 128 odd levels. Volumes were on rise as buyers were in full control to take the price away from sellers.

debt by more than ₹300 crore following the sale of its Bangalore Elevated Tollway to private equity firm KKR. Private equity firm KKR completed the acquisition of a 100% stake in Bangalore Elevated Tollway (BETPL) at an enterprise value of ₹545 crore. Galaxy II, a wholly-owned subsidiary of Galaxy Investments, which is itself owned by KKR Asia Pacific Infrastructure Holdings closed the acquisition last week, a source said. The move follows an unsolicited binding offer submitted by Galaxy II for the complete interest of IL&FS' stake in BETPL.

(Reuters) — Hewlett Packard Enterprise (NYSE:HPE) forecast fourth-quarter revenue below Wall Street estimates on Tuesday, at a time when demand for the company's servers is taking a hit from soft enterprise spending coupled with fierce competition from more AI-focused rivals, sending its shares down 2.3% after the bell.

Check out the companies making headlines in after-hours trading.

Omar Abdullah and Mehbooba Mufti on Tuesday demanded a probe into allegations of «harassment and humiliation'' made by IAS officer Ashok Parmar against Lieutenant Governor Manoj Sinha, chief secretary A K Mehta and other top bureaucrats in the Union territory. Parmar, a 1992 batch IAS officer hailing from Gujarat, currently heads the Bureau of Public Enterprise in J&K. Parmar has alleged he was being targeted for being a Scheduled Caste IAS officer.

NEW DELHI : Private companies will be a major partner in India’s future space missions, including those to Mars and Venus, and India is not behind any world power, including China, in technical capability although the country needs to build scale, NITI Aayog member and defence scientist V.K. Saraswat said in an interview.

₹1.2-1.3 trillion. Ajay Piramal, chairman and executive director, Piramal Enterprises, said if the Reserve Bank of India (RBI) allows certain non-banking financial companies (NBFCs) to accept public deposits, it will lessen their dependence on bank funding. Edited excerpts: Earlier, NBFCs used to have some advantage; there was a little more loosening in terms of RBI control compared to banks.

Private-capital backed mine site power business Zenith Energy has lined up a $320 million debt deal from a mix of existing and new lenders, as APA Group’s $1.7 billion acquisition of Alinta’s West Australian remote power assets kicks up interest in the sector.

The head of big bank ANZ has said the federal government’s intervention in blocking Qatar Airways flights to keep the national carrier Qantas profitable was “disturbing”.

Plans to build the world’s tallest flagpole are being delayed — again