Enterprise Financial News

renewable energy company, Adani Green will consider approving fundraising on July 6. In a BSE filing, Adani Green informed, "A meeting of the board of directors of Adani Green Energy Limited (the “Company") will be held on Thursday, July 06, 2023, at Ahmedabad, inter alia, to consider and approve the proposal of the raising of funds by way of issuance equity shares or any other eligible securities through permissible modes, including but not limited to a private placement, a qualified institutions placement, preferential issue, or any other method or combination of methods as may be permitted under applicable laws".

Each member of the Bloomberg Billionaires Index made an average of $14 million per day over the past six months, according to data compiled by Bloomberg. It was the best half-year for billionaires since the back half of 2020, when the economy rebounded from a Covid-induced slump. The gains coincided with a broad stock market rally, as investors brushed off the effects of central bank interest rate hikes, the ongoing war in Ukraine and a crisis in regional banks.

Piramal Capital & Housing Finance has sold a loan outstanding pool of ₹3,656 crore bad loans to Omkara ARC for ₹625 crore, said two sources close to the development. The sale, finalised last week, marks a recovery of 17% for Piramal. The pool consists of accounts acquired along with Dewan Housing Finance Limited (DHFL) and Piramal's own loan book.

Microsoft India with several key leaders being elevated. ET has learnt that chief operating officer Irina Ghose has been promoted as managing director of India. The current MD Sashi Sreedharan has been elevated to a bigger role.

The world’s 500 richest people added $852 billion to their fortunes in the first half of 2023. Each member of the Bloomberg Billionaires Index made an average of $14 million per day over the past six months, according to data compiled by Bloomberg. It was the best half-year for billionaires since the back half of 2020, when the economy rebounded from a Covid-induced slump.

Tata Consultancy Services (TCS) will be announcing its first quarter results for the financial year FY24 on July 12, 2023. The second largest firm in terms of market share, will also declare interim dividend for the fiscal on the same day.

NEW DELHI : While market leaders Bharti Airtel Ltd and Reliance Jio Infocomm Ltd have secured 5G spectrum and launched services, Vodafone Idea Ltd (Vi) is yet to do so. However, the lack of 5G has not had any major impact on the enterprise business as most solutions work on 4G, said Arvind Nevatia, chief enterprise business officer at India’s No. 3 telco.

All the pieces have fallen into place at Vector Metering, the smart metering play now half-owned by Queensland Investment Corporation.

Booming demand for generative artificial intelligence is beginning to drive startup acquisitions in that space, as large technology providers vie for a piece of a suddenly captivating market. But the upswing could also help rekindle merger-and-acquisition business across the startup universe, analysts say.

Mint had reported in February, and April, that the government found that a partner of the winning bidder consortium had adverse rulings issued by the National Company Law Tribunal’s Kolkata bench against it in another matter and that it had issued a show cause notice to the company concerned. Also, that the government intended to scrap the disinvestment process altogether.

New Delhi: The government Monday scrapped the strategic disinvestment of Pawan Hans Ltd, a public sector enterprise under the ministry of civil aviation, after it disqualified the successful bidder Star 9 Mobility Pvt Ltd on grounds of one of its consortium partners of being embroiled in a separate legal case where adverse rulings have been issued by the company law tribunal.  Mint had reported in February, and April, that the government found that a partner of the winning bidder consortium had adverse rulings issued by the National Company Law Tribunal's Kolkata bench against it in another matter and that it had issued a show cause notice to the company concerned. Also, that the government intended to scrap the disinvestment process altogether.   "Government has decided that successful bidding consortium M/s Star 9 Mobility Pvt Ltd is disqualified from the process of strategic disinvestment of Pawan Hans Ltd in terms of provisions of PIM and RFP," the department of investment and public asset management (DIPAM) said in a statement Monday.

Shares of lithium producers plunged Friday after Chile, the second-largest lithium producer in the world, proposed nationalizing its production of the rare earth metal, a key component of electric vehicle batteries.

artificial intelligence (AI) such as Microsoft-backed OpenAI's ChatGPT are complicating governments' efforts to agree laws governing the use of the technology. Here are the latest steps national and international governing bodies are taking to regulate AI tools:AUSTRALIA Seeking input on regulations The government is consulting Australia's main science advisory body and considering next steps, a spokesperson for the industry and science minister said in April.BRITAIN Planning regulations The Financial Conduct Authority, one of several state regulators that has been tasked with drawing up new guidelines covering AI, is consulting with the Alan Turing Institute and other legal and academic institutions to improve its understanding of the technology, a spokesperson told Reuters.

Operations jobs in investment banks have a seemingly well-deserved reputation for being a bit dull. When Goldman Sachs managing director Rebecca Anderton-Davies worked in operations, she found it very boring. "I didn’t love the work, which mainly involved repetitive tasks such as checking the basic time/date/amount/account details against the equivalent entries from other banks," she wrote in her recent autobiography, observing that it was — however, better than her previous job of stacking supermarket shelves. 

cryptocurrency markets were majorly trading higher in Monday's trade. Bitcoin (BTC) rose 0.65% to $30,688, whereas Ethereum (ETH) was above the $1,900 level. BTC volume stood at approximately $10.92 billion, rising 26.43% in the last 24 hours. «Bitcoin began the new week trading above the US$30,700 mark but struggled to surpass the US$31,000 level, indicating a lack of urgency among bulls to secure profits at this time,» Edul Patel, Co-founder, and CEO at Mudrex, said. «The price has remained relatively stagnant between US$31,431 and US$29,500 for a while now. If BTC manages to break through the US$31,000 threshold, there is potential for an upward trend; otherwise, support is currently situated at US$29,500,» Edul added.

cybersecurity coordinator (NCSC). Nair, who had in July 2022 taken over as the 28th Signal Officer-in-Chief, has also served as the commandant of the Military College of Telecommunication Engineering.

Adani Group companies regained some of the lost ground in the June quarter after seeing mayhem in the March quarter that was triggered by the massive negative report of US-based Hindenburg Research. Shares of Adani Group’s flagship company Adani Enterprises net gained over 36% in the quarter ended June, after shedding 55% in the preceding quarter. Shares of Adani Power gained more than 30% in the last quarter, recouping almost all of the losses it made in the March quarter.

Piramal Enterprises with a target price of Rs 1165. The current market price of Piramal Enterprises is Rs 945.5.

Investing.com-- Chinese manufacturing activity edged past expectations in June, a private survey showed on Monday, but the pace of growth still slowed from May amid softening export demand and worsening optimism over the economy.

GoI can take credit for the health of banks after a decade-long cleaning up of bad loans. Parallelly, Indian companies have shed their bloated debt and are now primed for capital expansion on signal from consumption demand. Sticky loans at public sector banks (PSBs) are heading for their best performance in 10 years as credit demand is pushed up by households emerging from pandemic restrictions.

CBI is investigating the role of several people who allegedly helped former WAPCOS CMD Rajinder Gupta, arrested after the seizure of Rs 38 crore in cash from his premises, in purchasing properties worth crores by procuring demand drafts and pay orders in exchange for cash, the agency said its charge sheet. In the charge sheet filed before a CBI special court recently, the agency has alleged that Gupta amassed assets disproportionate to his known sources of income during his tenure as CMD of WAPCOS, a central public sector enterprise, from April 1, 2011 to March 31, 2019. The charge sheet filed under relevant provisions of the Prevention of Corruption Act and IPC Sections 109 and 201 (destruction of evidence) has named Gupta and his wife, Reema Singal, as accused.