Enterprise Financial News

25.07 / 07:43

Airlines Enterprise Backed NCLT appoints EY-backed Shailendra Ajmera as RP of Coffee Day Global

Ajmera as resolution professional (RP) of Coffee Day Global, according to an order uploaded on its website. The bankruptcy court has admitted Coffee Day Global company for insolvency proceedings on the behest of IndusInd Bank, which filed a claim in court that the company had defaulted on term loans of Rs 115 crore that were disbursed to it in 2019.

25.07 / 07:25

Blockchain Provident Digital Platform Software Pool Enterprise INX to Tokenize and List Casper Labs Equity on Regulated ATS Platform

Accordint to Blockchain.News, INX Digital Company, Inc. (NEO: INXD, INXATS: INX, OTCQB: INXDF), a US-regulated broker-dealer, ATS, and transfer agent, announced on July 19, 2023, that it will tokenize and list the equity of Casper Labs, a leading enterprise blockchain software provider.

25.07 / 06:37

Lowe's Entertainment Enterprise NIFTY fall Shares of Zee Ent. fall as Nifty drops

The stock quoted a 52-week high price of Rs 286.9 and a low of Rs 172.25. The return on equity for the stock stood at 0.44 per cent.

25.07 / 06:15

COST FIVE Action Fighting Strategy Enterprise country How India can counter the EU’s carbon tax

The government is reported to be mulling various strategies to deal with the European Union’s Carbon Border Adjustment Mechanism, or C-BAM. Here is what the government should do: present the EU with a Carbon Dioxide Removal Obligation (CDR-O) tax on imports from the economic bloc, with a provision for setting off C-BAM against CDR-O levies. The EU sees itself as the global leader in fighting climate change.

25.07 / 05:01

UPS FIVE Fallout Chase Enterprise show Contra Bets? Desi investors raised bets on Adani stocks, while videshis dumped in Q1

Adani Group stocks seeing a strong rebound from the Hindenburg-led fallout, investors across the spectrum raised their bets on the group in the quarter gone by. However, compared to FPIs, mutual funds and retail investors increased their holdings in a majority of the companies, data analysed by ETMarkets showed. Mutual funds increased their stakes in seven out of 10 listed Adani Group companies in the quarter ended June, and retail investors in five, while FPIs reduced their ownership in six companies.

25.07 / 01:09

UPS Provident Booking Platform Enterprise Inside Lending company Oxyzo enters marketplace business

Oxyzo Financial Services, which started as a purchase finance platform to support buyers transacting through B2B marketplace OfBusiness, has entered a new business, acting as an intermediary between lenders and small and medium enterprises (SMEs). In partnership with a clutch of banks, non-banking lenders, corporate houses and family offices, it is placing close to $200 million (Rs 1,630 crore) of structured debt every month on a debt marketplace it has set up for SMEs to avail of funds. Oxyzo earns a commission for this service.

24.07 / 20:07

Strategy Enterprise Honda EUR country electronic acquires Motherson acquires German polymer parts maker Dr Schneider for €118 million

New Delhi: In its second international acquisition this month, auto parts maker Samwardhana Motherson International on Monday said it will take over German high-end polymer parts maker Dr Schneider's business at an enterprise value of €118 million. The acquisition will expand Motherson's footprint in the interior polymers business with enhanced offerings in premium lighting panels and air vents. The deal follows Motherson's acquisition of Honda's Yachiyo sunroof business earlier this month.

24.07 / 18:49

Provident Manufacturing Action Enterprise show Govt initiates review of CVD imposition on stainless steel

NEW DELHI : The Prime Minister’s Office (PMO) has initiated discussions on the potential imposition of countervailing duty (CVD) on stainless steel, raising hopes within the industry that such an action will curb cheap imports from China and support small and medium producers in India, two people familiar with the development said. The PMO has started talks with the industry and the ministries of steel and commerce, the people said, requesting anonymity. “The PMO has sought details on the impact of not implementing CVD on local producers," one of the two people said.

24.07 / 18:33

COST UPS Racing Remark Enterprise Adani group's Ambuja-ACC, JK Lakshmi lead race to acquire Sanghi Cement

Ambuja-ACC and JK Lakshmi Cement are ahead in the race to acquire Ahmedabad-based Sanghi Cement which is being sold for an estimated enterprise value of Rs 6,000 crore, people familiar with the matter said. The two frontrunners are expected to start due diligence on the company soon and, if it is satisfactory, place formal offers over the next two months, they said.Shree Cement, Nirma Group and Dalmia Bharat had also submitted proposals to acquire a controlling stake in Sanghi Cement company, but are no longer in the running, the people said. Sanghi Cement is controlled by the family of Ravi Sanghi, promoters of Sanghi Industries.

24.07 / 18:27

Provident Digital Manufacturing Platform Enterprise track IoT Airtel B2B unit links over 20 mn IoT devices

New Delhi: India’s No2 carrier, Bharti Airtel‘s business to business division has achieved a significant milestone in the Internet of Things (IoT) space, surpassing 20 million connected devices, the first enterprise to achieve this feat. According to Frost & Sullivan data, Airtel’s B2B division had a 54.3% share in this market in FY23.

24.07 / 17:13

UPS Provident Digital Mobile Enterprise country Reliance Industries Brookfield Centre stake Reliance Industries to acquire 33% stake in Brookfield-Digital Realty data centre venture

Reliance Industries Limited (RIL) today announced entering into an agreement to invest alongside Brookfield Infrastructure and Digital Realty in their Indian SPVs set up for developing data centers in India. RIL will hold 33.33% stake in each of the Indian SPVs and become an equal partner. Digital Realty Trust, Inc.

24.07 / 14:27

Manufacturing Enterprise Honda country electronic acquires Samvardhana Motherson acquires Germany's Dr. Schneider Group for $131.6 million

Samvardhana Motherson International (SMIL) on Monday said it has acquired Germany's Dr. Schneider Group for $131.6 million. Dr.

24.07 / 13:45

UPS Target Enterprise track electronic recovery China to step up policy adjustments amid tortuous recovery

By Ellen Zhang and Kevin Yao

24.07 / 10:37

Digital Manufacturing Software Enterprise UBS NVIDIA Does ‘Buy American’ Policy Make Sense? The Answer Is Key for Your AI Portfolio

Who benefits the most from a new invention, those producing it or those using it? The answer matters for investors and governments pouring money into artificial intelligence, green technology and chip production. Economists who warn against a fixation on “making stuff" point out that decades-old digital tools had scant effect on U.S. productivity until companies adopted them in the 1990s.

24.07 / 10:37

COST Progressive Merit Enterprise show country American universities have an incentive to seem extortionate

college is unaffordable. Or does it? The consensus view is that America has a college-affordability crisis and things are getting worse. According to the Heritage Foundation, a conservative think-tank, “college costs are out of control".

24.07 / 10:15

UPS Citi Provident Enterprise Metro country Ft Managed offices provider DevX sets up 1.80-lakh-sq-ft coworking center in Ahmedabad

DevX has set up a coworking center spread over 1.80 lakh sq ft on Sindhu Bhavan Road in Ahmedabad. This hub, the managed office space provider’s fourth facility in Ahmedabad, has over 3,000 seats and is the largest coworking space in Gujarat.

24.07 / 07:25

Lowe's Digital Microsoft CEO Enterprise TCS Birlasoft shares rebound after announcement of Microsoft collaboration

Birlasoft share: Following weakness in IT stocks after weak Q1 results 2023 by leading Indian IT companies — Infosys, TCS, Wipro and HCL Tech — Birlasoft shares witnessed huge sell off pressure during early morning deals on Monday. However, Birlasoft share price bounced back strongly from intraday lows after announcement of IT company collaborating with Microsoft to establish generative AI centre of excellence, driving value creation and innovation.

24.07 / 01:55

COST UPS Airlines Enterprise performer country Stocks to Watch: RIL, ICICI Bank, HDFC Bank, Adani Ent, SpiceJet, Paytm

Reliance Industries: Reliance Industries Ltd said quarterly profit declined 5.9% from a year earlier. Net profit fell to ₹18,258 crore in the three months ended 30 June from ₹19,405 crore in the year-ago quarter. Profit missed the average ₹18,302 crore estimated by a Bloomberg survey of analysts.

23.07 / 20:47

Citi Aware Enterprise show Coffee Day Global now in bankruptcy process

Coffee Day Global, which operates the Cafe Coffee Day chain across India, was admitted for corporate insolvency by the Bengaluru bench of the bankruptcy court last week, said people aware of the development. The National Company Law Tribunal (NCLT) passed an oral order on Thursday to admit the unlisted company based on a petition filed by IndusInd Bank. A detailed order is yet to be uploaded by the tribunal.

23.07 / 20:21

COST Provident Strategy Mobile Enterprise LEH clean energy EESL enters into several partnerships at Clean Energy Ministerial meeting

New Delhi: Energy Efficiency Services Limited (EESL) has forged partnerships worth ₹700 crore during the recent 14th Clean Energy Ministerial (CEM) meeting in Goa, said statement from EESL. As part of the event, EESL unveiled its new Energy Efficiency Strategy crafted in close collaboration with USAID India, which reinforces its pivotal role in driving India’s net-zero aspirations. “Additionally, EESL solidified its commitment to decarbonization by signing a strategic MOU with the United States Agency for International Development (USAID), India to shape forward-looking strategies and programs," it said.

23.07 / 18:47

Enterprise performer Robust home sales improve realty companies' liquidity profile

property market over the last three financial years has resulted in robust improvement in liquidity and credit profile of key listed real estate developers since the outbreak of the Covid-19 pandemic. The buoyancy in residential demand in mid, premium and luxury segments across India's top property markets including Mumbai, Delhi-NCR, Bangalore, Pune, Kolkata, and Hyderabad has pushed both collections and realisations of these companies' higher.

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