Enterprise Financial News

ST Telemedia Global Data Centres (STT GDC) on Friday announced an investment of $3.2 billion (Rs 26,000 crore) to expand its data centre capacity in India by 550 megawatts over the next five to six years. This will nearly triple the Singapore-headquartered data centre company’s IT load capacity to meet the demands of India's thriving digital economy, it said in a statement. STT GDC India, in which Tata Communications holds a minority stake, has 28 data centres across 10 cities, with a combined capacity of more than 318 megawatt of IT load. It has about 1,000 enterprise customers.

Shares of Prestige Estates Projects Ltd.(up 2.07 per cent), Brigade Enterprises Ltd.(up 1.29 per cent), Sunteck Realty Ltd.(up 0.66 per cent) and Phoenix Mills Ltd.(up 0.39 per cent) ended the day as top gainers in the pack.

₹1.5-2.5 trillion in incremental profit for the top 500 Indian companies over a five-year period. When businesses use AI-powered products, it delivers an even higher return on ad spend. It has been incredible to see large Indian brands such as Nykaa and Dream11 already use these tools as part of their advertising strategies.

Brigade Enterprises has raised Rs 1,500 crore by selling equity shares to institutional investors as part of its strategy to expand business. The company on September 2 launched its qualified institutional placement (QIP) issue to raise funds. The issue closed on September 5. In a regulatory filing on Friday, Brigade Enterprises said a committee of directors approved the allotment of 1,30,43,478 equity shares to eligible qualified institutional buyers.

Cybercriminals are turning their focus to small and medium enterprises (SMEs) as large organisations bolster their cybersecurity infrastructure, maintain data redundancy, invest in cyber insurance, and refuse to pay ransom. Hacker groups like Lockbit, BlackCat and Akira are increasingly targeting SMEs in healthcare, retail and manufacturing, who sometimes remain unable to regain their IT systems even after paying ransom. Attacks on SMEs (with 100-5,000 employees) have significantly risen in India and accounted for nearly half of all such incidents in 2023. Among large organisations, only 10% of those attacked paid ransom, whereas with SMEs, 44% ended up paying amounts ranging between $25,000 and $100,000, according to data from cybersecurity firms.

Indigo Paints, Nucleus Software, Venus Pipes, Adani Enterprises, Godfrey Phillips among others will be in focus due to various news developments. Indigo Paints

technologies such as artificial intelligence (AI), generative AI (GenAI), cloud, internet of things (IOT), extended reality, 5G and Edge computing, after a lull during the Covid-19 pandemic, said industry executives and experts. They said the industrial metaverse--which refers to the digital world that mirrors the physical world, leveraging the technologies--has found the right price points to generate good returns on investment (RoI) with supporting technologies scaling up. “Industrial metaverse has gone through its waves,” said Sreenivasa Chakravarti, vice president, IOT and digital engineering, TCS. “As always (with any new technology), there is a hype when it peaks, and then it slows down and then again it picks up. Today, because the industrial metaverse is in some way a combination of computer vision, extended reality and digital twins, fortunately, all of these are maturing to a really good extent.”

teachers and parents to educate children so that they always behave in accordance with women's dignity, President Droupadi Murmu said today in New Delhi while presenting National Awards to teachers on Teachers' Day. The President emphasised that women's respect should be demonstrated not just in words, but also in practice. Her comments come days after she voiced concern about the Kolkata rape case and other incidences of violence against women across the country. President Murmu presented the annual National Teachers' Awards to 82 teachers from various schools, higher education institutes, and the Ministry of Skill Development and Entrepreneurship. Each award includes a certificate of merit, a monetary award of ₹50,000, and a silver medal.

TORONTO — CIBC is making changes to its senior executive ranks in a move chief executive Victor Dodig says will broaden the opportunities for a number of the bank’s leaders.

Adani Enterprises has announced early closure of its public issue, on Friday, September 6, against the earlier schedule of September 17. The Rs 400 crore public issue of debentures, which opened on Wednesday, was oversubscribed by around 221% on Day 2, driven by heavy participation from retail investors. The non-convertible debentures (NCDs) will have an effective annual yield ranging from 9.25% to 9.90%.

Sep 5th, Panama – Gate Ventures is proud to announce its strategic investment in double jump.tokyo Inc., Japan’s foremost Web3 gaming company, as part of a $10 million funding round led by SBI Investment. This significant investment reflects Gate Ventures’ commitment to supporting the advancement of blockchain technology and the Web3 gaming ecosystem on a global scale.

Goavega, a specialist in AI-driven product engineering services, has launched a product aimed at helping businesses engineer next-generation AI-based software products which will help organizations across industries further innovate faster and smarter. With over a decade of experience supporting emerging startups and large enterprises, Goavega has developed the new suite of AI services. “AI is no longer a luxury but a necessity for companies that want to remain competitive in today’s digital economy. However, getting AI right the first time is incredibly challenging. Our mission with this new suite of services is to help businesses in healthcare, financial services, retail, manufacturing, and other industries to navigate these challenges and successfully integrate AI into their operations, driving sustainable value and efficiency. Weare seeing a very healthy pipeline for AI-Driven Product Engineering Services and expect to see 30-35% growth in the coming year," Sumana Iyengar, CEO at Goavega, said.

PwC) has resigned as its auditor following the property developer's recommendation, making it the latest Chinese company to sever ties with the troubled auditing firm. PwC has been in trouble over its role in auditing China Evergrande Group since the developer was accused in March of a $78-billion fraud, resulting in an exodus of clientele, cost cuts and layoffs. Country Garden has appointed Hong Kong-based Zhonghui Anda CPA as its new auditor, at least until the conclusion of its next annual general meeting, it said. «PwC is unable to fulfill the timetable requirements of the company for the publication of the audited consolidated financial statements for the year ended 31 December 2023 considering recent relevant matters,» Country Garden said in an exchange filing.

Having received approval in August from the European Commission to prolong the Venture Capital Trust (VCT) and Enterprise Investment Schemes (EIS), the Treasury confirmed yesterday (4 September) it will extend the sunset clause until 5 April 2035.  European Commission approves ten-year UK sunset clause extension for VCTs and EIS The Treasury said the extension of the two schemes is «part of its relentless pursuit of growth» as startups and entrepreneurs can help to «grow and rebuild Britain».  Over £41bn of investment has been generated from the schemes over the previous three deca...

JSW Neo Energy and Oil & Natural Gas Corp are the last two left in the fray to acquire Ayana Renewable Power, a green energy company controlled by National Investment & Infrastructure Fund (NIIF), said people directly aware of the matter. The two companies were among the four shortlisted in April to conduct due diligence after multiple parties submitted non-binding offers for the renewable power company. The revised term sheets were submitted last week. The offers peg Ayana’s enterprise value between $1.6 billion and $1.8 billion, the people said. Uncompetitive Offers Enterprise value includes debt and liquid assets. Bids of Sembcorp and Macquarie, the other two shortlisted companies, were deemed lowball and thereby uncompetitive. Ayana Renewable Power’s ownership is split three-way, with government-anchored NIIF as the dominant shareholder (51% stake). British International Investment (32%) and Eversource Capital (17%) are the other shareholders.

The NSE Nifty index ended the session 81.15 points down at 25198.7, while BSE Sensex fell 202.8 points to 82352.64.

Adani Enterprises’ first-ever non-convertible debentures (NCDs) issuance has received bids of Rs 716 crore on the opening day, higher than the base issue size of Rs 400 crore. The overall issue, open for subscription for a fortnight, was oversubscribed 1.8 times. The NCDs, rated CARE A+ (Positive) by CARE Ratings Ltd., offer an effective yield of up to 9.9% annually across eight series, with tenors ranging from two to five years. The issue, launched Wednesday and is scheduled to close on September 17, includes a green shoe option to raise an additional Rs 400 crore, potentially taking the total fund mobilization to Rs 800 crore.

KCP Sugar & Industries Corporation Ltd.(up 5.00%), Bannari Amman Sugars Ltd.(up 2.35%), EID Parry(India)Ltd.(up 1.55%), Shree Renuka Sugars Ltd.(up 1.50%), Ponni Sugars(Erode)Ltd.(up 0.80%), DCM Shriram Industries Ltd.(up 0.58%), Ugar Sugar Works Ltd.(up 0.54%), Rajshree Sugars & Chemicals Ltd.(up 0.53%), Dhampur Sugar Mills Ltd.(up 0.50%) and KM Sugar Mills Ltd.(up 0.36%) stood among the top gainers.

The takeover deal values each Tritax EuroBox share at 68.4p, which represents a 27% premium to its closing price of 53.8p on 31 May, SEGRO said in a stock exchange notice today (4 September).  Under the terms of the deal, EBOX shareholders will receive 0.0765 new SEGRO shares for each EBOX share and receive a dividend of around 1.05p for the third quarter of 2024. The trust's shareholders will also retain their entitlement to any interim dividend already declared.  SEGRO said the £552m valuation translates to a £1.1bn enterprise value when the Tritax EuroBox's net debt at 31 March 202...

Adani Enterprises Ltd.’s maiden bond issuance targeted at individual investors opens for subscription Wednesday as the conglomerate seeks to diversify its funding base following a brutal short seller attack last year. The flagship firm of Indian billionaire Gautam Adani’s group plans to raise as much as 8 billion rupees ($95.3 million) through the issuance where 60% of the amount is reserved for high networth and retail individuals, according to its prospectus. Another 30% is for non-institutional investors such as corporates, while the remaining 10% is for institutional buyers.