Enterprise Financial News

Ambuja Cements said in a press release on Monday. «Strong infrastructure demand and ongoing needs from the housing and commercial sectors are anticipated to boost cement demand in H2 FY 2025,» Ambuja Cements' press release said, which was posted with the company's Q2FY25 earnings. The rollout of the Pradhan Mantri Awas Yojana (PMAY) Urban Housing 2.0, which includes an allocation of ₹11 lakh crore is expected to benefit the sector as well, the cement producer said.

Subscribe to enjoy similar stories. India's top tech services companies are riding the AI wave with chip giant Nvidia, betting on mutually beneficial partnerships like the ones they have with software giants SAP AG and Oracle Corp.

bankruptcy court recently disposed of an application filed by Phantom Studios India (PSIPL), which sought to implement a merger scheme between Zee Entertainment Enterprises (ZEEL) and Sony Group companies Bangla Entertainment Private (BEPL) and Culver Max Entertainment (CMEPL). The National Company Law Tribunal bench ruled that the application from a minor shareholder, seeking to enforce the scheme, is moot. It said that the shareholder's right to enforce the scheme lapsed after the companies' boards approved the scheme's withdrawal, despite his minor shareholding. PSIPL, formerly known as Mad Man Film Ventures, owned about 1.3 million shares of Zee Entertainment, valued at around ₹50 crore, at the time of the tribunal filing.

telcos will likely present a united demand before the regulator that new satcom players pay market-determined prices for spectrum – the single biggest capex item for telcos – when they compete with terrestrial network providers. Telcos have collectively spent `5.5 lakh crore to acquire this spectrum. Global biggies such as Elon Musk-owned Starlink and Amazon’s Kuiper are eyeing broadband services in India. Multiple people aware of developments told ET that Reliance Jio, Bharti Airtel and Vodafone Idea will be demanding that if satcom players are allowed to offer services in urban areas, serving retail or enterprise customers, a level playing field with terrestrial networks must be ensured.

Atmecs Global said it will host the grand finale of its GenAI hackathon in Hyderabad on October 26-27. The hackathon, commenced on August 30 in collaboration with HackerEarth, has provided a platform for participants to demonstrate their technical prowess and creativity. The finale will focus on the themes, each of which poses a unique challenge for developers to address using Generative AI technologies, the company said in a statement. These themes are: 1. Enterprise RAG – Revolutionizing Decision-Making with Generative AI; 2. NIM (NVIDIA Inference Microservices) – Scaling AI Performance and Efficiency and 3. Healthcare Innovation – Transforming Medicine with Multimodal AI, the company with offices in Bengaluru, Chennai, Coimbatore and Hyderabad, added in its statement.

Subscribe to enjoy similar stories. Months after slipping into the hands of Byju’s lenders, Great Learning is back in the black, mapping out an ambitious new chapter that could lead to an initial public offering (IPO). Flush with profitability and bolstered by organic growth, the edtech platform is now charting a course away from the turbulence at its former parent, Byju’s.

Subscribe to enjoy similar stories. The billionaire Burman family of Dabur Ltd is a step closer to buying Religare Enterprises Ltd, with the insurance regulator stating it has no objection to the proposed acquisition. Religare, which is locked in a battle with the Burman family, initially did not act on the proposal, but applied to the Insurance Regulatory and Development Authority of India (Irdai) after the Securities Appellate Tribunal (SAT) stepped in.

Subscribe to enjoy similar stories. New Delhi: The European Investment Bank (EIB), which has committed to supporting India's green hydrogen sector with a €1 billion investment, is working with public sector enterprises Power Finance Corporation and Indian Renewable Energy Development Agency Ltd to identify and develop projects in the country, said Nicola Beer, vice president of the lending arm of the European Union. "We see opportunities in the green hydrogen mission of India.

food inflation is expected to ease by Q4 of this fiscal (FY25) on better kharif arrivals and rising prospects of a good rabi season, highlighted the Reserve Bank of India's latest report. The RBI-led rate setting panel, Monetary Policy Committee, in the minutes of October meet, has highlighted that the sowing of key kharif crops are higher than last year and the long-period average. «Sufficient buffer stocks for cereals are available for ensuring food security. Adequate reservoir levels, the likelihood of a good winter and favorable soil moisture conditions augur well for the ensuing rabi season, though adverse weather events remain a risk,» it added.

On the BSE, Neopolitan Pizza and(down 14.07 per cent), Huhtamaki PPL(down 11.35 per cent), Chandra Bhagat Pharm(down 11.11 per cent), Tainwala Chem(down 10.86 per cent) and Chennai Petro(down 10.55 per cent) stood among the top losers in today's trade.

Subscribe to enjoy similar stories. Nearly a year after his departure from Axis Mutual Fund, Jinesh Gopani has resurfaced with a new alternative investment fund, Taksh AIF (a category III AIF). Its inaugural scheme is the Taksh India Enterprising Fund.

Subscribe to enjoy similar stories. New Delhi: Ahmedabad-based Montecarlo Ltd, an engineering procurement and construction company, is exploring the sale of nine road assets in a deal expected to have an enterprise value of around $360 million (about ₹3,025 crore), said two people aware of the development. These nine road assets, or projects, fall under the so-called hybrid annuity model, which is considered attractive due to its risk-mitigation qualities.

With rapid adoption of Generative AI, businesses of all sizes have the opportunity to significantly improve the customer experience for their customers

Subscribe to enjoy similar stories. Ambuja Cements' acquisition of a 46.8% stake in Orient Cement for ₹395.4 per share has sparked debate about whether the company is paying a premium in a competitive market. As consolidation gains pace across the cement sector, Ambuja is expanding capacity despite lofty valuations and soft earnings weighing on the industry’s short-term outlook.

Subscribe to enjoy similar stories. Thiruvananthapuram/Chennai: After decades of planning and years of delay, the Vizhinjam International Transhipment Deepwater Multipurpose Seaport, India’s deepest natural port and its only container transshipment hub, located 25 kilometres from Kerala’s capital Thiruvananthapuram, is ready for operation. Developed by Adani Ports and Logistics, the port’s trial run began in July this year.

In this article

The NSE Nifty index closed 309.0 points down at 24472.1, while BSE Sensex ended down 930.55 points at 80220.72.

earnings season is underway and as many as 70 companies will announce their quarterly numbers for the July-September 2024 period today. Key results to watch out include that of Bajaj Finance, Adani Green, Zomato, Paytm, Adani Energy Solutions, Varun Beverages and ICICI Pru Life. Apart from the above, Aditya Birla Real Estate, Adani Energy Solutions, Adani Green Energy, Ambassador Infra Holdings, Amber Enterprises, Amerise Biosciences, ASI Industries, Bridge Securities, Can Fin Homes, Chennai Petroleum Corp, Choice International, Coforge and a few others will declare their results.

Subscribe to enjoy similar stories. Insomnia Media and Content Services Ltd, led by producer Juhi Mehta, has filed for an initial public offering (IPO) on the National Stock Exchange’s (NSE) Emerge platform, aiming for an enterprise valuation of ₹200 crore. The company plans to dilute 27% of its equity through a fresh issue of shares.

India's biotechnology sector is witnessing remarkable growth, with the country's bioeconomy now valued at USD 150 billion but there is still significant untapped potential in innovation and product development, which could further elevate India's global standing in the sector, Dr Jitendra Kumar, Managing Director of the government's Biotechnology Industry Research Assistance Council (BIRAC), said. BIRAC is a not-for-profit public sector enterprise set up by the Department of Biotechnology (DBT) under the government that supports and promotes innovation, entrepreneurship, and research in the sector. In an interview with PTI, Kumar highlighted India's significant contributions to global healthcare, with 40 per cent of the world's generic medicines being supplied by Indian companies. «We have enormous potential and capability, but when it comes to the value of our bioeconomy, we are ranked 14th globally. This is because much of the value stems from patented, innovative products' — an area where India still needs to improve,» Kumar said.

earnings season is underway and as many as 182 companies will declare their results this week. Some of the marquee names include ICICI Bank, YES Bank, ITC, Bajaj Housing Finance, HUL, Ultratech Cement, Bajaj Finance, Bajaj Finserv, IndiGo, Paytm, and Zomato among others. Here are the key earnings to watch out next week