Enterprise Financial News

Barclays initiated coverage of 26 stocks within the U.S. Power & Utilities sector in a note Wednesday, taking a Neutral industry view.

TORONTO — Business software company Open Text Corp. has acquired Ireland-based KineMatik, which specializes in business process and project management.

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The partnership between DBS Bank and Infor Nexus™ was, until now, primarily focused on availing early payments to the suppliers on a post-shipment basis. The latest trade financing solution completes the entire pre-shipment and post-shipment financing cycle, establishing a robust end-to-end digital working capital financing solution.

Hindalco Industries Ltd (up 2.34%), Axis Bank Ltd (up 2.11%), ICICI Bank Ltd (up 1.58%), Divi's Laboratories Ltd (up 1.55%) and Larsen & Toubro Ltd (up 1.47%) were among the top gainers of Nifty 50. Adani Enterprises Ltd (down 5.89%), Jio Financial Services Ltd (down 4.99%), Adani Ports and Special Economic Zone Ltd (down 2.86%), Sun Pharmaceutical Industries Ltd (down 1.37%), and Tech Mahindra Ltd (down 1.15%) were among the laggards today.

Tata Communications, a global enabler of the digital ecosystem, announced the opening of its cloud-based, worldwide 5G Roaming Laboratory (Lab). This will allow Mobile Network Operators (MNOs) to test 5G standalone network use cases prior to rolling out the service to their customers, the company said in an exchange filing. In order to enable mobile network operators reinvent mobility experiences that benefit their consumers and enterprise customers, Tata Communications is utilising the potential of 5G in this way.

On the BSE, Relicab Cable Manufa(down 15.94 per cent), Adeshwar Meditex(down 10.78 per cent), Captain Technocast(down 10.00 per cent), Jet Infraventure(down 10.00 per cent) and Panacea Biotec(down 9.90 per cent) were among the stocks that plunged over 5 per cent during the session. In the Nifty pack, 22 stocks traded in the green, while 27 stocks traded in the red. The Nifty index was trading 12.6 points down at 19383.85. On the BSE, Shelter Pharma, Jio Financial Servic, Triveni Glass, Decorous Investme and A F Enterprises hit their fresh 52-week lows, while SilverpointInfra, NCL Research, Neil Industries, Meenakshi Enterprise and AccelerateBS India touched their fresh 52-week highs.

The NSE Nifty index traded 9.4 points down at 19387.05, while BSE Sensex was down 45.4 points at 65174.63 as of 10:55AM(IST)on August 23. In the Nifty index, Hindalco Industries Ltd.(up 2.43 per cent), Divi's Laboratories Ltd.(up 1.86 per cent), Apollo Hospitals Enterprise Ltd.(up 1.11 per cent), Tata Steel Ltd.(up 1.11 per cent) and Larsen & Toubro Ltd.(up 0.94 per cent) were among the top gainers. On the other hand, Sun Pharmaceutical Industries Ltd.(down 1.30 per cent), ITC Ltd.(down 1.08 per cent), Adani Enterprises Ltd.(down 1.08 per cent), Adani Ports & Special Economic Zone Ltd.(down 0.94 per cent) and Tata Motors Ltd.(down 0.84 per cent) were among the top losers.

Jio Financial Services: The BSE has deferred the removal of Jio Financial Services Ltd, the demerged non-banking financial services unit of Mukesh Ambani-led Reliance Industries, from all the S&P BSE indices to 29 August from 24 August. Jio Financial Services listed on the bourses on Monday and hit the lower circuit for the second straight on Tuesday. Vodafone Idea: Debt-ridden telecom services provider Vodafone Idea plans to clear about ₹2,400 crore wort of dues to the government by September.

Day trading guide for today: Domestic equity benchmarks Sensex and Nifty ended flat during Tuesday's session amid persistent concerns over US interest rates and China's economic health, although the mid-cap index rallied to a fresh record on brighter domestic prospects. The gains in shares of select heavyweights such as ITC, Larsen & Toubro and Axis Bank were offset by losses in those of HDFC Bank, ICICI Bank and TCS. Sensex closed 4 points higher at 65,220 while the Nifty closed the day at 19,396, up 3 points.

Listed gas pipelines owner APA Group has clinched a deal to buy Alinta’s remote power assets in WA’s Pilbara region for about $1.8 billion, and will ask investors for $750 million to bankroll the acquisition at its results today.

BrightcomSebi has passed a second interim order against the Brightcom Group, restraining Suresh Kumar Reddy and Narayan Raju from holding any directorial positions until further notice.SJS EnterprisesEvergraph Holdings, part of the promoter group, has sold partial stake in SJS Enterprises through multiple bulk deals on Tuesday.Read more: What changed the market while you were sleepingHindalcoHindalco Industries has planned a total investment of Rs 4,000 crore in an extrusion facility for freight wagons and coaches and a copper and e-waste recycling plant.BEMLBEML has bagged order from the ministry of defence for supply of command post vehicles with contact value of Rs 101 crore.Piramal EnterprisesThe Board has approved raising up to Rs 3,000 crore through issuance of debentures in one or more tranches.TVS Supply ChainThe shares of TVS Supply Chain will debut on the exchanges on Wednesday.

If the last few years have taught us anything, it’s that businesses must constantly adapt and evolve in order to keep ahead of the competition. While the broader macro environment has led many businesses to shift their focus from raw growth to profitability, that doesn’t mean they can stop focusing on customer growth altogether.

MUMBAI : Omnichannel pharmacy chain PharmEasy will raise ₹3,500 crore through a rights issue next week, multiple people aware of the development said, helping it repay a big chunk of its loans to Goldman Sachs. Temasek Holdings, TPG, Prosus, CDPQ, Eight Roads, LGT, Abu Dhabi sovereign wealth fund ADQ, Amansa, OrbiMed and Sunil Kant Munjal’s family office have already committed to invest as much as ₹2,000 crore, one of the people cited above said. Manipal Health Enterprises founder Ranjan Pai’s family office may invest ₹1,200 crore.

Steel Authority of India (SAIL), BHEL, Escorts Kubota, Metropolis Healthcare Ltd, Chambal Fertilizers and Chemicals, Gujarat Narmada Valley Fertilizers And Chemicals Limited, Delta Corp, Hindustan Copper, India Cements, Indiabulls Housing Finance, Punjab National Bank, Manappuram Finance, and Zee Entertainment Enterprises Ltd are the 12 stocks that are a part of the F&O ban list by the stock exchange for Wednesday. The NSE updates the list of securities in F&O ban for trade everyday. The derivative contracts in the mentioned securities have crossed 95 per cent of the market-wide position limit and have been currently put in the ban period by the stock exchange, said NSE.

Life insurance. The company has allocated a capital basis of Rs. 10 billion for each of the enterprises, according to media reports.

government has invited another round of applications from 100 more academic institutions, research and development (R&D) organisations, startups, micro, medium and small enterprises (MSMEs) from across the country for its chips to startups (C2s) programme.

Deloitte on Tuesday said it has launched its global AI market incubator that will promote innovation in generative artificial intelligence (AI) and serve global and Indian enterprises. «The AI incubator will leverage the in-depth sector knowledge and AI/ML expertise of our professionals, including data scientists and engineers,» the company said in a statement These professionals work through a multi-disciplinary model built on design thinking to ensure speed, faster time to market and immediate value generation in critical projects, it added. Deloitte said it currently has active global engagements in the areas of drug discovery, customer experience, content generation and personal avatars, marking over 100 corporations in the past six months. “These engagements demonstrate the increasing relevance of generative AI.” The launch of the Global Generative AI Market Incubator by Deloitte also aligns with the government’s overall agenda of nurturing tech talent and AI-driven opportunities, the company said. «Through this initiative, we aim to resolve unique industry cases by providing the right strategy and drawing on the strengths of our collaboration with alliance partners,” Sathish Gopalaiah, president, consulting at Deloitte India, said. Deloitte launched its Generative AI practice in India in June to help enterprises with strategic innovations, talent development and a collaborative alliance ecosystem.

The NSE Nifty index ended the session 2.85 points up at 19396.45, while BSE Sensex rose 3.94 points to 65220.03. In the Nifty index, Adani Enterprises Ltd.(up 2.21 per cent), HDFC Life Insurance Company Ltd.(up 1.71 per cent), ITC Ltd.(up 1.44 per cent), NTPC Ltd.(up 1.33 per cent) and Hero MotoCorp Ltd.(up 0.86 per cent) stood among the top gainers. On the other hand, Bharat Petroleum Corporation Ltd.(down 1.46 per cent), Cipla Ltd.(down 1.04 per cent), Bajaj Finserv Ltd.(down 0.71 per cent), Eicher Motors Ltd.(down 0.66 per cent) and Tata Consultancy Services Ltd.(down 0.57 per cent) were among the top losers of the day.

Stock market today: Adani group shares have been in uptrend for last few trade sessions. Out of 10 Adani shares, Adani Power share price has ascended from ₹280 to ₹343 apiece levels in last four sessions, logging near 22.50 per cent rise in this time. Adani Ports share price has 776 apiece levels to ₹869 per share levels on NSE, logging around 12 per cent appreciation in last four sessions.