Enterprise Financial News

security does not constitute a breach of WTO rules, unless contested. Security restrictions are commonplace for countries to impose non-tariff trade barriers. India's notification this week requires importers of IT hardware to obtain a permit from the Directorate General of Foreign Trade (DGFT), which promises to issue these expeditiously.

Months into the fallout from a damning short-selling report, shares for corporate raider and activist investor Carl Icahn’s conglomerate Icahn Enterprises plunged Friday after the firm halved its quarterly dividend

Carl Icahn made a multibillion-dollar fortune as an activist investor, bullying companies into changing their businesses. Another activist has now forced him to do the same. Icahn Enterprises, which says it offers small investors a chance to “invest alongside the iconic Icahn," said Friday it was cutting its dividend in half to $1 a share, the first reduction since 2011.

Oil India Limited aims to enhance powers to the OIL board while taking financial decisions. "Finance Minister approved upgradation of Oil India Ltd (OIL) to Maharatna CPSE. OIL will be the 13th Maharatna amongst the CPSEs.

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By Niket Nishant

Ahead of the IPO, the company has raised Rs 465 crore in the anchor round, which saw participation from marquee foreign and domestic institutional investors, including The government of Singapore, Abu Dhabi Investment Authority, Government Pension Fund Global, UTI Mutual Fund, DSP Mutual Fund, SBI Life among others. Concord, which is backed by Quadria Capital Fund and Rakesh Jhunjhunwala's Rare Enterprises, is one of the leading global manufacturers of select fermentation-based APIs (F-APIs) across immunosuppressants and oncology with a market share of over 20% by volume in 2022. The IPO is completely an offer for sale of 2.09 crore equity shares up, aggregating up to Rs 1,551 crore.

India REIT is planning to raise an additional up to Rs 1,150 crore through a combination of preferential issue of units to its sponsor group and commercial paper following its qualified institutional placement (QIP) worth Rs 2,305 crore earlier this week. The REIT will be raising nearly Rs 400 crore through the issuance of up to 1.27 crore units to a sponsor group entity Project Diamond Holdings.

Mint and shared his views. Archit Gupta: ClearTax began as a tax filing solution over ten years ago. We have rebranded Clear which extends far beyond just tax compliance.

Airtel's improving subscriber mix, cost-led margin improvement, and improving free cash flow generation in the June quarter were strong enough reasons for the US brokerage to reiterate a buy. Hong Kong-based CLSA too maintained a 'Buy' stance on the counter, arguing for a favourable risk-to-reward ratio. The stock jumped nearly 2% on the NSE to attain its day's high of Rs 482.

Ilya Lichtenstein, 35, and Heather Morgan, 33, were arrested in February last year after the US government seized 95,000 bitcoin then valued at $3.6 billion. Prosecutors said the pair stole the bitcoin in 2016 using «advanced hacking tools.» Authorities recovered the funds from wallets controlled by the duo. Since their arrests, the government has seized another approximately $475 million tied to the hack, the Southern District of New York said in a statement.

small and medium enterprises (SME). The IPO will remain open for public subscription till August 8. Sangani Hospitals IPO GMP today, or grey market premium today, is just Re 1, as per topsharebrokers.com.

Adani Power, part of the Indian conglomerate Adani Group, reported an 83.26% rise in first-quarter profit on Thursday, boosted by a steep drop in its tax bill and a jump in collection of delayed payments. The company's consolidated net profit rose to 87.59 billion rupees ($1.06 billion) in the April-June quarter, from 47.80 billion rupees a year ago. That was mostly due to a near 96% drop in its tax bill and a near four-fold jump in delayed payments, including interest, from power distribution companies.

NFL great Tom Brady has become a minority owner of English second-tier soccer team Birmingham and wants to bring a winning mentality to an underperforming club

Bharti Airtel: Bharti Airtel Ltd reported a mixed set of first-quarter numbers on Thursday, with revenue beating estimates even as profit came below expectations. The company reported a flat net profit of ₹1,612.5 crore in the first quarter of fiscal 2024 from ₹1,607 crore a year ago. However, the company’s revenue from operations grew 14% to ₹37,440 crore compared to ₹32,804.6 crore in Q1 FY23.

Read More)Adani Group will invest $4 billion-$5 billion to expand its cement capacity to over 100 million tonnes in two years, two people aware of the matter said, on a day the conglomerate made yet another acquisition.On Thursday, Ambuja Cements Ltd, part of Adani Cement, announced the purchase of 57% promoter stake in cement maker Sanghi Industries Ltd at an enterprise value of ₹5,000 crore.“Adani will add around 30 million tonne per annum (mtpa) cement making capacity in two years, both via organic and brownfield acquisitions, for which $4-5 billion could be invested, which will be funded mostly through internal accruals," one of the two people cited above said on condition of anonymity. (Read More)Bharti Airtel released its financial results for the first quarter of fiscal year 2023-24 (Q1FY24) on August 3, showing a net profit of ₹1,612 crore.

In a challenging economic climate, it’s never been more important for retailers to win over customers, develop innovative products and enter new markets. Technology is the variable that will elevate the winners in this epic battle.

The competition regulator has rejected ANZ’s $4.9 billion takeover of Suncorp’s bank.

InterGlobe Aviation's decision to expand its presence on international routes is timely considering the rising competition in the domestic market where it already controls over 60% share. Given the factors such as network expansion, capacity deployment, and a possible benefit of tax loss, analysts have raised the earnings per share (EPS) forecast for FY25 by as much as 38% (Emkay). The stock fell by 4.7% on Thursday on the BSE.

MUMBAI : Adani Group will invest $4 billion-$5 billion to expand its cement capacity to over 100 million tonnes in two years, two people aware of the matter said, on a day the conglomerate made yet another acquisition. On Thursday, Ambuja Cements Ltd, part of Adani Cement, announced the purchase of 57% promoter stake in cement maker Sanghi Industries Ltd at an enterprise value of ₹5,000 crore.

DoorDash set records for total orders and revenue in the second quarter as its grocery and convenience deliveries accelerated and it improved driver efficiency