Enterprise Financial News

small enterprises need to be kept in mind so that they do not become inflationary and impact growth, Sanjiv Puri, chairman and managing director, ITC, told ET. «We have to think of the solutions so that we are not creating a structurally inflationary environment, which will not be good for growth,» Puri said on the sidelines of the CII B20 Summit in New Delhi, pointing to the need for the development of models that are economically viable. Puri, the head of the ESG in Business Action Council, noted technology accessibility, funding at attractive rates and sharing of cluster-based assets as solutions to control the cost of ESG compliance for MSMEs. «If everything becomes cost plus, the environment is going to become inflationary, which will ultimately impact consumption,» Puri noted, highlighting that the finance minister, in her B20 address, also made the point of containing inflation. Puri also highlighted that larger players also had a responsibility, and the CII-ITC Centre of Excellence for Sustainable Development was working on making a simplified ESG framework and ensuring that it percolates to the rest of the supply chain. «We have made a toolkit for MSMEs,» he said. The chairman of the Indian multinational company noted that the market needed both incentives and disincentives to implement ESG and evolve into a regulatory pathway. «It has to be mandated with market-based incentives and disincentives.

Analysing the FDI Flow India's thriving economy has also attracted $46 billion in FDI during FY2023, registering a remarkable growth of 89% since FY2014. This warrants scrutiny of the jurisdictions contributing to this inflow.

MUMBAI : A single market participant took a derivatives position worth an estimated ₹600 crore in Adani Enterprises Ltd (AEL), flagship of the Adani Group and a Nifty 50 stock, just days before India’s markets regulator submitted its status report on the Adani probe to the Supreme Court on 25 August. While it’s not known whether the position is a hedge or a punt, market experts said such positions are normally taken in anticipation of a sharp price move based on an event. Designated ‘Client 1’ by National Stock Exchange (NSE), the participant initiated a position of 2.24 million shares, or 3.04% of AEL’s marketwide position limit (MWPL) of 73.7 million shares on 22 August.

generative technology and may consider raising funds early next year to support expansion plans. Ramineni, during his India visit spoke to PTI about the rapid growth in AI and startups in India and the Silicon Valley.

According to a report by CNN, in 2021, Murugan fell off the back of an overcrowded lorry, leading to a fracture on his leg. Murugan’s accident occurred on January 3, 2021.

India assumed the presidency of the G20. India had already bolstered its international reputation with its vaccine diplomacy, by playing a constructive role in climate change discussions, and by being the fastest-growing economy. For its presidency, India adopted the ancient Sanskrit shloka «Vasudhaiva Kutumbakam,» signifying «One Earth, One Family, One Future,” as its theme. This emphasises sustainable, responsible choices for both individuals and governments, aiming for a just and equitable world.

BEIJING (Reuters) -Profits at China's industrial firms fell 6.7% in July from a year earlier, extending this year's slump to a seventh month with weak demand squeezing companies as a post-pandemic recovery faltered in the world's second-biggest economy.

The fading of some positive legal and regulatory news induced a wave of selling in recent weeks that is “still reverberating,” though the unwinding appears to be at its end phase, based on open interest in CME Bitcoin futures contracts, analysts including Nikolaos Panigirtzoglou wrote on Thursday. A decline in open interest — the number of unsettled and active future contracts trading on exchanges — typically indicates a price trend is losing strength. “As a result, we see limited downside for crypto markets over the near term,” they said. Bitcoin, the largest crypto token, was down 0.2% at around $25,980 as of 11:30 a.m. in New York on Friday. In the past two weeks, it has fallen almost 12% after trading sideways for about a month.

electric vehicle (EV) infrastructure within the priority sector lending category, a senior official said Saturday, a move that would come as a boost for the sector. «We have received a representation to include EV infra in the priority sector. We will look at reworking the priority sector lending (PSL) requirements for banks,» the official said, adding that the issue will be discussed with the Reserve Bank of India (RBI). The power ministry has also written a letter to the Department of Financial Services in this regard, the official said. According to RBI guidelines, it is mandatory for banks to extend 40% of their adjusted net bank credit to the priority sector.

China’s regulators face a losing battle convincing global funds to invest in the nation’s stocks unless market boosting efforts are accompanied by stronger stimulus to support growth. Officials have undertaken a flurry of measures in recent days to improve battered sentiment in the world’s second-largest stock market. They’ve urged financial institutions to snap up equities, encouraged companies to boost buybacks, and asked mutual funds to stop selling.

small and medium enterprises, exports, and economically vulnerable groups such as small farmers, micro-enterprises, and disadvantaged segments.

IPOs Next Week: The primary market witnessed some major listings in both main board and SME IPOs this month, which kept investors engaged with subscriptions and listings. Moving on, the upcoming week sees the end of August and the start of the new month, which is similarly packed with new listings and IPO issues, that are available for subscription.

New Delhi: The government is considering a proposal to include electric vehicles (EVs) in priority sector lending category, a senior official said on Saturday. «We have received a representation to include EV in priority sector. We will look at reworking the priority sector lending requirements for banks,» the official said adding the issue has to be discussed with the Reserve Bank of India. As per RBI guidelines, it is mandatory for banks to extend 40 per cent of their adjusted net bank credit to priority sector. Currently, seven sectors — agriculture, Micro, Small and Medium Enterprises (MSME), export credit, education, housing, social infrastructure, and renewable energy — are considered for priority sector lending (PSL).

Punit Renjen, deputy chairperson-supervisory board, SAP SE. Speaking at a B20 panel on Saturday, Renjen said businesses need to address the climate question as that is what their employees increasingly want; this is what underpinned Deloitte’s work on ESG while he was heading it. “If I want to hire the very best individuals and I want to retain them, I must have a critical response to that question,” he said. Speaking at the same event, Bernard Looney, CEO of BP, said ESG serves both moral and business good.

Roshni Nadar Malhotra, chairperson of HCL technologies, said in the national capital on Saturday. Speaking at a B20 panel on technology, innovation and R&D, she said, “One of the issues with global technology and skilling is that innovation is very specific to countries,” adding that the challenge is taking solutions to scale. Nadar-Malhotra, who also co-chairs the B20 Taskforce on Digital Transformation, said the B20 Task Force on Technology, Innovation and R&D’s recommendation for such a digital platform aligns with that of her own task force’s focus on bridging the digital divide, addressing digital literacy and the skills gap, enterprise transformation of MSMEs with a digital toolkit, and fostering digital trust. Developing future skills will be key and has boded India well since it invested in R&D in information technology since the 1970s, she said. This attracted international companies to come and leverage its capabilities.

ease of doing business and to make the competition regulation regime world class. The two schemes are available for those facing or have faced investigations for abuse of dominance or for entering into anti-competitive agreements other than cartels. These anti-competitive agreements could be among enterprises or persons at different stages of the production chain.

small and medium enterprises (MSMEs) constitute 20% of all MSMEs yet receive only 5% of the total financing provided by public-sector banks. According to the experts, women in India are often less digitized and receive less training to build their businesses. However, when properly supported, women entrepreneurs are more likely to hire women, more likely to repay credit and more likely to share increased income with their families and communities, serving as core drivers of inclusive economic growth.

Zee Entertainment Enterprises Limited (ZEEL) may get excluded from the MSCI Global Small-cap Index. though, the effective date for Zee-Sony merger is yet to be announced, but the National Company Law Tribunal has given its approval for amalgamation of Zee Entertainment Enterprises Ltd and Spny Pictures. As Zee-Sony merger date is not known, MSCI is yet to declare last date of trade session for ZEEL shares.

entrepreneurs and medium-sized enterprises, navigating the balance between risk and reward is an art form. One emerging avenue that holds significant promise is the concept of multi-functional sports spaces.

Africa as the last continent of hope, Sunil Bharti Mittal, Founder & Chairman, Bharti Enterprises and Chair, B20 India Action Council on African Economic Integration said that adopting Africa as a place to do agriculture can be the way forward amid the crisis that the world is going through in food production. “60% of the world's arable and yet uncultivated land is in Africa. Today we all see the crisis that the world is going through and especially with Ukraine getting out of the equation of supplying wheat to African nations and many other poorer countries, prices have sold out.

Adani Group companies violated securities laws, it said in a submission to the Supreme Court on Friday. It has investigated 24 transactions — findings in 22 of them are final in nature, it said.