Enterprise Financial News

Bharti Airtel is slated to deliver 13%-16% growth in consolidated revenues/Ebitda compounded annually through FY24-FY27, propelled by a combination of more frequent tariff hikes, a ramp-up of its 5G-based fixed wireless access (FWA) offerings as well as a steady growth of its non-mobile businesses and Africa operations, analysts said. They added that reduced capex spends towards 5G and rural network expansion from FY25 onwards is also slated to help the nation's second-largest telco generate substantial free cash flows (FCF) in the next two fiscals. «With a moderation in capex intensity, Airtel is likely to generate significant free cash flows of ₹33,000 crore-₹43,000 crore in FY25-FY26, which should lead to significant deleveraging and improvement in shareholder returns,» Motilal Oswal said in a research note seen by ET.

business leadership was defined by managers who ruled enterprises top-down. Shaped by the world wars and the Great Depression, leadership in enterprises was defined by an almost militaristic control established through stringent rules and dictums. A 21st-century leader, on the other hand, is empathetic, and visionary, and leads by inspiring their teams to achieve a common vision, rather than forcing them to work until they drop. The backlash following EY employee Anna Sebastian Perayil's death has highlighted how corporate India's conditions can be deemed, in many cases, as being 'inhumane'. Such conditions call attention to how Indian employees are among the most overworked in  the world. It underlines two key questions: Are Indian workplaces desirable?

Pakistan International Airlines (PIA) was held at a hotel in Islamabad and shown live on the state-run PTV channel. The move to sell the PIA and other loss-making state-owned enterprises is part of the deal with the International Monetary Fund (IMF) that recently agreed to provide USD 7 billion to Pakistan. The government had pre-qualified six groups in June, but only a real-estate development company, Blue World City, participated in the final bidding process.

Subscribe to enjoy similar stories. DENG XIAOPING was barely five feet tall, but China’s late ruler was a political giant. He was a leading figure in the Communist revolution and a hard-nosed Leninist.

Yatharth Hospital and Trauma Care Services on Wednesday said its board has approved the acquisition of 60 per cent stake in a Faridabad-based hospital, which is yet to commence operations, at an enterprise value of Rs 152 crore. The company's board has approved to enter into an agreement with MGS Infotech Research and Solutions Pvt Ltd and its shareholders to acquire 60 per cent stake, the healthcare provider said in a regulatory filing. The target company is yet to commence a 400-bed hospital in Faridabad, Haryana. The acquisition will strengthen the company's presence in Delhi-NCR, it said.

GE Power India Ltd.(up 5.00%), Karma Energy Ltd.(up 5.00%), Energy Development Company Ltd.(up 4.96%), Jyoti Structures Ltd.(up 4.96%), Voltamp Transformers Ltd.(up 4.70%), Indowind Energy Ltd.(up 4.68%), RattanIndia Power Ltd.(up 4.00%), India Power Corporation Ltd.(up 3.26%), Inox Wind Ltd.(up 3.26%) and Gujarat Industries Power Company Ltd.(up 3.25%) stood among the top gainers.

The NSE Nifty index ended the session 126.0 points down at 24340.85, while BSE Sensex 426.85 points to 79942.18.

Dabur on Wednesday announced the acquisition of Sesa Care, engaged in the Ayurvedic personal care and wellness segment, at an enterprise value of Rs 315-325 crore. This new acquisition will help Dabur to expand in the Rs 900 crore ayurvedic hair oil market, the company said in a regulatory filing. It has entered into an agreement to acquire the majority 51 per cent stake from its shareholder True North (a private equity fund) for Rs 12 crore at face value.

Mahesh Langa of a key role in a multi-crore Central Goods and Services Tax (CGST) fraud involving hundreds of shell companies. The ED claims to have uncovered a network of 200 shell entities used to fraudulently claim input tax credit (ITC) without any exchange of goods or services, a TOI report stated.

Khaitan Chemicals & Fertilizers Ltd.(up 4.53%), National Fertilizers Ltd.(up 4.37%), Chambal Fertilisers & Chemicals Ltd.(up 4.22%), Madras Fertilizers Ltd.(up 4.02%), Nagarjuna Fertilizers and Chemicals Ltd.(up 3.74%), The Fertilisers and Chemicals Travancore Ltd.(up 3.57%), Paradeep Phosphates Ltd.(up 3.52%), Rashtriya Chemicals & Fertilizers Ltd.(up 3.26%), Gujarat State Fertilizer & Chemicals Ltd.(up 2.85%) and Rama Phosphates Ltd.(up 2.84%) were among the top gainers.

Adani Enterprises shares are in focus on Wednesday after the firm reported a 664% year-on-year (YoY) jump in its consolidated net profit for the September quarter, reaching Rs 1,742 crore, compared to Rs 228 crore reported in the same period last year. The company's revenue from operations stood at Rs 22,608 crore in the reported quarter, which represents a 16% increase compared to Rs 19,546 crore in the corresponding quarter of the previous financial year.

Subscribe to enjoy similar stories. Telecom major Bharti Airtel has just announced a new CEO & MD, who will take charge 14 months from now—on 1 January 2026. That’s a long waiting period.

Reliance New Energy (RNEL), a wholly-owned subsidiary of Reliance Industries, has acquired the remaining stake in sodium-ion battery technology company Faradion from existing shareholders, making it a wholly-owned subsidiary, the company said in a regulatory filing on Tuesday. RNEL, in December 2021 announced the acquisition of Faradion at an Enterprise Value of £100 million. RIL had then stated that it intends to use Faradion’s technology at its proposed fully integrated energy storage giga-factory, part of the Dhirubhai Ambani Green Energy Giga Complex facility at Jamnagar.

Rana Sugars Ltd.(up 2.82%), DCM Shriram Industries Ltd.(up 2.74%), Balrampur Chini Mills Ltd.(up 2.35%), Uttam Sugar Mills Ltd.(up 2.31%), Simbhaoli Sugars Ltd.(up 2.18%), Dalmia Bharat Sugar and Industries Ltd.(up 2.05%), Ponni Sugars(Erode)Ltd.(up 1.93%), Dhampur Sugar Mills Ltd.(up 1.72%), Magadh Sugar & Energy Ltd.(up 1.69%) and Rajshree Sugars & Chemicals Ltd.(up 1.66%) stood among the top gainers.

Adani Enterprises on Tuesday reported a 664% year-on-year (YoY) jump in its September quarter consolidated net profit at Rs 1,742 crore versus Rs 228 crore reported by it in the year-ago period. The company's revenue from operations stood at Rs 22,608 crore in the reported quarter which was up 16% as compared to Rs 19,546 crore reported in the corresponding quarter of the previous financial year.

Finova Capital has secured $135 million (about Rs 1,135 crore) in a fresh funding round led by Avataar Venture Partners, Sofina and Madison India Capital, with existing investor Norwest Venture Partners also participating, the Jaipur-based company said on Tuesday. The new investors join existing shareholders Peak XV Partners, Faering Capital and Maj Invest. The round provided partial exit to some of the early investors, the company said. The transaction marks business-to-business focused growth-stage fund Avataar Venture Partners’ first investment in the financial services sector in India.

earnings season is underway and as many as 139 companies will announce their quarterly numbers for the July-September 2024 period today. Key results to watch out include that of Maruti, Adani Enterprises, Adani Ports, Cipla, Canara Bank, SBI Cards, Hudco. Apart from the above, Apar Industries, APL Apollo Tubes, BCL Industries, Blue Jet Healthcare, Container Corp, Edelweiss Financial, Force Motors, Goenka Business, Kaka Industries, Vedant Fashions, Star Health and a few others will announce their quarterly results.

Maruti, Adani Enterprises, Adani Ports, Airtel, Tata Power, HDFC Bank among others will be in focus due to various news developments and second quarter results. Maruti, Adani Enterprises, Adani Ports, Cipla, Canara Bank, SBI Cards, Hudco Shares of Maruti, Adani Enterprises, Adani Ports, Cipla, Canara Bank, SBI Cards and Hudco will be in focus as the companies will announce their second quarter results today.

Aggressive investors looking for a thematic bet in their equity portfolios could consider an allocation to exchange-traded funds (ETFs) tracking the Nifty Metal index, which has dropped about 12.5% in the past month. The benchmark Nifty fell 6.3% in this period. «Valuations have also cooled down now making it an attractive bet with a 2-3 year view,» said Prateek Sinha, founder of Deep Wealth. The Nifty Metal index trades at a price-to-book (PB) ratio of 2.59 times, lower than 3.6 times of the Nifty 50 index.

startup ecosystem, the strength of its digital economy and the proliferation of the world’s largest global capability centres (GCCs) in the country will position India as one of the top three artificial intelligence (AI) economies globally, said Shanker Trivedi, senior vice president of enterprise business at Nvidia, the world’s largest chip maker, in conversation with Himanshi Lohchab & Surabhi Agarwal. “India has unique characteristics. Some other regions are still a fragmented market. But India has always been one market with one currency, even while multiple cultures exist,” he told ET in an exclusive interview. “Even the market in Nagaland is bigger, I can assure you, than some other nations. And I bet you, there’s somebody in Kohima right now planning a startup using this amazing infrastructure and platform,” said Trivedi, who has helmed Nvidia’s enterprise business for 15 years and is now a key member of chief executive Jensen Huang’s core team.

NTPC Green Energy, a wholly-owned subsidiary of NTPC. The company, which filed its draft prospectus in September, plans to raise Rs 10,000 crore through the IPO. The IPO is entirely a fresh issue of equity shares. The offer also includes a reservation for a subscription by eligible employees and a discount is being offered to eligible employees bidding in the employee reservation portion.