Enterprise Financial News

Nasscom has requested the government to put in abeyance and review its decision to impose licensing requirements for the import of laptops, all-in-one-personal computers and certain other electronic equipment as it will hit the $245 billion Indian IT sector severely. Nasscom has written to the government on this and is in discussion with the industry to “understand in greater detail the challenges that are being anticipated” so that those could be shared with the government, Nasscom vice president and head of public policy Ashish Aggarwal said.

textile industry is concerned that Chinese exporters are dumping cheap fibre and polyester in India ahead of the implementation of a quality control order (QCO) on a range of textile input materials, Brij Mohan Sharma, joint managing director, Rajasthan Spinning & Weaving Mills said. While bigger players have welcomed the QCO, micro, small and medium enterprises that lack a resilient supply chain are heavily dependent on imported raw material and are facing the double whammy of slowing exports and a raft of standards imposed on the industry. “Cheap quality imports from China are being dumped into India.

Amazon India on Thursday said it has cumulatively digitised 62 lakh micro, small, and medium enterprises (MSMEs) and enabled exports worth $8 billion. As part of its 2025 pledge for key focus areas of job creation, exports, and digitising MSMEs, the company has created 13 lakh direct and indirect jobs out of its pledge to create 2 million (20 lakh) jobs.

NEW DELHI : Private equity (PE) firm Actis Llp has agreed to acquire five hybrid annuity model (HAM) road projects from Patel Infrastructure Ltd at an equity value of around $91 million, two people aware of the development said. Actis may place these road assets under an infrastructure investment trust (InvIT) that will also house the six operating highway toll road projects that it bought from Welspun Enterprises Ltd last year. The Welspun deal, struck at an enterprise value of $775 million, marked the first road investment in India by Actis Long Life Infrastructure Fund.

Lenders are cautious on providing loans to the micro, small and medium enterprises (MSME) segment, despite high demand, availability of analytical data and lower delinquencies, a report said on Thursday. Demand for loans from MSMEs grew 33 per cent in the January-March period of the previous fiscal (Q4, FY23) compared to the year-ago period, but the supply of credit was up by only 11 per cent during the quarter, the report by credit information company Transunion Cibil, in association with Sidbi, said.

Shelter Pharma IPO: The initial public offering (IPO) of Shelter Pharma opened for subscription on Thursday, August 10 and was subscribed 1.10 times by the end of the session. Shelter Pharma is a small- and medium-sized enterprise (SME) IPO will remain open for investors till Monday, August 14. The Gujarat-based company and is engaged in the business of manufacturing herbal products in Human Pharma as well as the Veterinary space.

Container Corporation of India on Thursday reported over 17% decline in net profit at ₹246 crore for the first quarter ended June 30 of fiscal year 2024. The company had posted ₹297 crore in the same period a year ago. Revenue from operations dropped 3.6% at ₹ 1,922 crore, Container Corporation said in an exchange filing.

By Milana Vinn

Riley Keough, who is Elvis Presley's granddaughter, recently had an in-depth conversation with Vanity Fair for a feature story published on Tuesday. In the interview, the 34-year-old actress discussed her mother Lisa Marie Presley's untimely passing in January due to complications from weight-loss surgery. She also talked about the subsequent legal dispute that emerged with her grandmother Priscilla Presley over her mother's estate. Priscilla released a statement in May confirming that the family had «resolved all confusion as it relates to our plea to the court.» As per Vanity Fair, Keough is now the sole trustee of Lisa Marie's estate. She is also the sole custodian of Graceland and the family's shares in Elvis Presley Enterprises, an estate reportedly valued at around $500 million. Amid varying accounts, Riley Keough has clarified that Priscilla is indeed permitted to be laid to rest at Graceland alongside her late husband Elvis. The Memphis estate holds the final resting place for multiple generations of the Presley family, a lineage that includes Keough's younger brother, Benjamin, who tragically passed away at the age of 27 in 2020.

Stamford, Connecticut, United States & Bengaluru, Karnataka, India – Business Wire India Protegrity, the global leader in data security and privacy, today announced Dante Malagrino has been appointed Chief Product Officer (CPO), and Christian Carnell has been appointed Chief Financial Officer (CFO). Reporting to Protegrity CEO Paul Mountford, Malagrino and Carnell will take on their new executive leadership roles in August to lead Protegrity’s next phase of growth.“We believe the market opportunity is massive, and that no one is better positioned than Protegrity to meet this moment," said Paul Mountford, CEO of Protegrity.

Besides banks, other rate-sensitive sectors like realty and auto also ended on a weak note. Shares of Zee Entertainment Enterprises (ZEEL) ended 16% up after NLCT gave approval to the Zee-Sony merger. We have collated a list of three stocks that either hit a fresh 52-week high or saw a volume or a price breakout on Thursday.

Adani Enterprise had said there was no major event that requires a regulatory disclosure, a day after Bloomberg News reported the flagship company of the Adani group was exploring selling its 44% stake in unit Adani Wilmar. The report, citing people familiar with the matter, had said billionaire Gautam Adani and his family may retain a minority stake following a stake sale in its $6 billion consumer staple joint venture with Wilmar International.

equity market witnessed an all-round selloff on Thursday even as the Reserve Bank of India (RBI) maintained a status quo on the repo rate and policy stance on expected lines but raised inflation projections for the current financial year due to the recent rise in vegetable, cereals and pulses prices. The six-member monetary policy committee (MPC) of the RBI unanimously decided to keep the repo rate unchanged at 6.50 per cent for the third straight meeting in a row. The MPC also decided to keep the policy stance unchanged as ‘Withdrawal Of Accommodation’.

Zee Entertainment Enterprises (ZEEL) shares wiped out the day’s losses and surged 15% to an over 6-month high of Rs 278.55. Investors drew comfort from the National Company Law Tribunal’s (NCLT’s) approval to the proposed merger of the company with Sony Pictures. The merger deal was announced by the media major in 2021, but it has seen an unexpected delay due to Zee’s several legal battles with lenders and market regulator Securities and Exchange Board of India (Sebi).

Zee-Sony merger: After the news break by various television channels in regard to Zee-Sony merger, Zee Entertainment Enterprises Limited or ZEEL share price witnessed huge buying interest and ZEEL share price ascended from intraday low of ₹239.05 apiece to intraday high of ₹278.55 apiece within few minutes of of this stock market news spread. Comparing with Wednesday close of ₹242.25 per share levels, ZEEL share price today logged an intraday gain of around 15 per cent during Thursday deals.

Joe Biden's move to prohibit some US technology investments in China is expected to keep investors on the sidelines, concerned that tougher measures are ahead as tensions simmer between the world's two biggest economies. US private equity and venture capital investors have already hit the brakes on sensitive technologies in China as relations have worsened since the administration of Biden's predecessor, Donald Trump, over issues from tech to China's industrial policies to national security.

NCLT) on Thursday approved the merger scheme between Zee Entertainment Enterprises Limited (ZEEL) and Culver Max Entertainment (Sony). The bench in its oral order allowed the application for the merger. Earlier on July 10, the division bench of judicial member HV Subba Rao and technical member Madhu Sinha reserved its order in the merger scheme between ZEEL and Sony, after hearing all the parties.

redesigned version of the app, users will find it much simpler to initiate new chats, channels, calls, or canvases, all conveniently accessible from a single button, as per the company’s recent blog post. On Wednesday, Slack introduced the revamped app version through a blog post, showcasing a fresh Home interface that displays DMs, channels, and apps collectively. Moreover, the updated Home section will exhibit cross-workspace channel visibility within an Enterprise Grid organization, as per the company.

metaverse could reach up to $900 billion dollars by 2030, though it may remain in the seed stage for at least another five to 10 years, Bain and Company said in a report released on Thursday. The report, titled Taking the Hyperbole Out of the Metaverse, said the metaverse poses real and growing economic opportunities for businesses.

₹9,960 crore for the June ended quarter (Q1FY24). Pre-sales were, however, fell 33% sequentially in the absence of new project launches during the period. The June quarter saw the rollout of a single commercial project by Brigade, with residential projects taking a backseat.

Artificial Intelligence (AI) has become intertwined with our lives. It’s not just a narrative anymore. We use AI daily in so many ways.