Enterprise Financial News

MUMBAI : Even as Zee Entertainment Enterprises Ltd (ZEEL) founder Subhash Chandra and his son Punit Goenka await clean chit from the market regulator over financial irregularities in the media house, the company itself is entangled in a series of legal disputes, including tax claims, regulatory filings showed. While Zee Entertainment proceeds with its planned merger with the Indian arm of Japan’s media behemoth Sony Group Corp’s entertainment division, the filings showed that Zee is dealing with at least a dozen lawsuits, involving cases filed by the Income Tax department, the Commissioner of Service Tax, the Director General of GST Intelligence, and several lenders.

leadership, a key recommendation was to develop a common regulatory framework for generative artificial intelligence (AI)—a nascent field of technology finding adoption across various industries and governance—said N. Chandrasekaran, chairman, Tata Sons and chairperson of B20 India. Speaking at a press conference ahead of the three-day B20 India Summit, Chandrasekaran said, “Digital transformation by adopting AI at a scale is one of key objectives of this summit.

By Abhijith Ganapavaram

The Brazilian Amazon has long been home to small and mid-sized sustainable businesses that use forest nuts, fruits and other products, and it's an incubator for new ones

LPL Financial Holdings Inc. and Prudential Financial Inc. announced Thursday morning that Prudential will move the retail brokerage and investment advisory assets of 2,600 financial advisors from Prudential Advisors’ current custodian, Fidelity’s National Financial Services, to LPL Financial.

GST billing software. This article comprehensively explores the pros and cons to understand its impact on businesses. The GST (Goods and Services Tax) billing software is a specialized tool crafted to aid businesses in creating and overseeing invoices while also managing different facets of taxation and compliance associated with GST.

Language model operations (LLMOps) startup Portkey.ai on Wednesday said it has raised $3 million in a seed funding round led by Lightspeed Venture Partners. The company has tools that allow businesses to monitor their LLMOps, connect to multiple LLMs to experiment, improve and manage prompts effectively. Portkey.ai offers integrations with LLMs such as OpenAI, Anthropic, Langchain, LlamaIndex, among others.

international trade and investment, helping boost productivity and output and fostering economic growth and prosperity for all. Addressing the opening session of the meeting in Jaipur, Rajasthan, the minister urged the ministers from G20 and other invitee countries to work collectively to achieve concrete, decisive and action-oriented outcomes.

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₹308.88-crore Vishnu Prakash IPO has received strong response from investors within hours of the bidding process opening. Vishnu Prakash IPO price band has been at ₹94 to ₹99 per equity share and the IPO subscription period will end on August 28, 2023. Let us take a look at Vishnu Prakash IPO subscription status so far: Vishnu Prakash R Punglia IPO has been subscribed 2.48 times so far on Thursday, the first day of the bidding process.

The landscape of Greater Noida West or Noida Extension has undergone a remarkable transformation, evolving into a thriving hub of urbanization and infrastructural growth, according to the latest findings by Geetanjali Homesate. This development surge has paved the way for a burgeoning commercial real estate sector, making it an enticing prospect for investors.

Alinta Energy is eyeing a bid for Origin Energy’s Eraring coal power generator in a move that could cement in place the extended operation of the plant beyond its targeted closure date of August 2025.

Vivek Ramaswamy, an unexpected presence just a few months ago – a tech entrepreneur and newcomer to the political arena. Despite trailing behind Trump in the polls, Ramaswamy has steadily risen in recent surveys, securing his position alongside DeSantis at the center stage. His adeptness in leveraging video-ready communication and delivering a well-crafted message became evident as he shared his narrative of humble beginnings, underscoring his parents' immigrant journey and his subsequent founding of billion-dollar enterprises. A notable highlight from the debate was Ramaswamy's bold pledge to grant Trump a pardon if given the opportunity. Expressing his conviction, Ramaswamy unreservedly labeled President Trump as the standout leader of the 21st century.

The NSE Nifty index traded 28.0 points up at 19472.0, while BSE Sensex was up 92.32 points at 65525.62 as of 11:25AM(IST)on August 24. In the Nifty index, IndusInd Bank Ltd.(up 1.80 per cent), Bharat Petroleum Corporation Ltd.(up 1.73 per cent), Adani Enterprises Ltd.(up 1.62 per cent), Asian Paints Ltd.(up 1.29 per cent) and Bajaj Auto Ltd.(up 0.99 per cent) were among the top gainers. On the other hand, Hindalco Industries Ltd.(down 0.94 per cent), Mahindra & Mahindra Ltd.(down 0.56 per cent), Divi's Laboratories Ltd.(down 0.52 per cent), Tata Consultancy Services Ltd.(down 0.51 per cent) and Hero MotoCorp Ltd.(down 0.47 per cent) were among the top losers.

Zee Entertainment Enterprises Ltd. traded at Rs 274.7 on BSE at 11:21AM (IST) on Thursday, up 0.27 per cent.

The NSE Nifty index was trading 77.1 points up at 19521.1, while BSE Sensex was up 259.71 points at 65693.01 at the time of writing this report. In the Nifty index, Adani Enterprises Ltd.(up 2.22 per cent), IndusInd Bank Ltd.(up 2.01 per cent), Bharat Petroleum Corporation Ltd.(up 1.84 per cent), Adani Ports & Special Economic Zone Ltd.(up 1.39 per cent) and Axis Bank Ltd.(up 1.29 per cent) were among the top gainers. While Hindalco Industries Ltd.(down 0.81 per cent), NTPC Ltd.(down 0.20 per cent), ITC Ltd.(down 0.17 per cent), Mahindra & Mahindra Ltd.(down 0.16 per cent) and Divi's Laboratories Ltd.(down 0.16 per cent) were among the top losers in the index.

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Nagarjuna Fertilizers and Chemicals has sought shareholders' approval to sell its urea manufacturing plant and micro irrigation business to a Greenko-linked entity in a slump sale for ₹1,700 crore. The proceeds will be used to settle loans of its new lender, Assets Care and Reconstruction Enterprises (ACRE), an asset reconstruction company. SSG-Ares backed ACRE acquired Nagarjuna Fertilizers' entire ₹1,500 crore debt from banks by paying ₹811 crore, as reported by ET on March 29. Nagarjuna Fertilizers entered into an agreement with ACRE to settle its ₹1,500 crore debt, which it will pay from proceeds of slump sale, according to the disclosures made by the company in its annual report released on August 22. In effect, ACRE paid ₹811 crore to banks in March and is set to recover ₹1,500 crore from Nagarjuna.

China's economic challenges have given rise to deflationary pressures that present a global concern and are likely to accelerate in the coming quarters, according to economists.

By Ariba Shahid

At the Bengaluru edition of the ET Soonicorns Summit 2023 – an Economic Times initiative to track the next frontiers of growth for the Indian startup ecosystem – the maritime startup sector will be in focus, with a Keynote Address by Sarbananda Sonowal, Union Minister for Ports, Shipping, and Waterways, Government of India on the theme of ‘Building a future-ready maritime shipping industry to power India@100.’ The Summit – scheduled to bring together key policymakers, entrepreneurs, investors and ecosystem stakeholders in Bengaluru on August 26 – will feature a special Maritime Startup Spotlight Track which will also showcase disruptive startups from the sector, such as ShipsKart, Navalt, EyeROV, Planys, and Logstar, among others, along with the launch of a report on the 50 Emerging Maritime Startups of India.Register now for the ET Soonicorns Summit With a focus on fostering connections, sharing actionable insights, and enabling collaborations, the ET Soonicorns Summit provides a platform for startups, investors, policymakers, and industry influencers to explore the key trends and themes shaping India’s innovation economy and define a roadmap for powering the future of India's technological transformation. The Inaugural Session of the ET Soonicorns Summit, which will feature the Keynote Address by Union Minister Sonowal, will also include inaugural addresses by influential leaders in the ecosystem.