Enterprise Financial News

Brigade Enterprises Ltd.(up 2.25 per cent), Macrotech Developers Ltd.(up 1.46 per cent) and Prestige Estates Projects Ltd.(up 1.29 per cent) were among the top gainers.

Sebi) on Wednesday cautioned investors to be careful while investing in stocks of small and medium enterprises (SMEs) even as their initial public offerings continue to see huge oversubscriptions. «It has come to the notice of Sebi that, post-listing, some of the SME companies and their promoters have been resorting to certain means that project an unrealistic picture of their operations,» Sebi said in a release.

Religare Enterprises chairperson Rashmi Saluja in connection with its investigation into alleged violations of insider trading regulations, people familiar with the matter said. The investigation centres on trades conducted by Saluja last year on September 21 and 22, days before the Burman family's open offer for Religare Enterprises was announced on September 25, 2023.

Dalmia Bharat Sugar and Industries Ltd.(up 5.69%), Magadh Sugar & Energy Ltd.(up 5.53%), KCP Sugar & Industries Corporation Ltd.(up 5.00%), Simbhaoli Sugars Ltd.(up 4.09%), Balrampur Chini Mills Ltd.(up 3.14%), Avadh Sugar & Energy Ltd.(up 2.77%), Shree Renuka Sugars Ltd.(up 2.40%), Mawana Sugars Ltd.(up 2.22%), Vishwaraj Sugar Industries Ltd.(up 2.04%) and Bajaj Hindusthan Sugar Ltd.(up 1.31%) stood among the top gainers.

The NSE Nifty index ended the session 34.6 points up at 25052.35, while BSE Sensex rose 73.8 points to 81785.56.

China says said the tariffs would disrupt global industrial and supply chains.

Mahindra Lifespace Developers Ltd.(up 0.75 per cent) and Prestige Estates Projects Ltd.(up 0.51 per cent) were among the top gainers.

Indo Tech Transformers Ltd.(up 5.00%), Neueon Towers Ltd.(up 4.92%), Inox Wind Ltd.(up 3.31%), NTPC Ltd.(up 3.21%), Power and Instrumentation(Gujarat)Ltd.(up 2.00%), Gujarat Industries Power Company Ltd.(up 1.73%), KEC International Ltd.(up 1.69%), Jyoti Structures Ltd.(up 1.69%), JSW Energy Ltd.(up 1.67%) and Tata Power Company Ltd.(up 1.09%) stood among the top gainers.

proxy advisory firm Glass Lewis has advised the shareholders of Godfrey Phillips to vote «against» the special resolution seeking the reappointment of Bina Modi as Managing Director at the Annual General Meeting on September 6. Glass Lewis has backed Samir Modi's presence on the board. Godfrey Phillips India has scheduled its Annual General Meeting on September 6, 2024, in which it has put five ordinary resolutions and one special resolution for approval from its shareholders. As Bina Modi's remuneration exceeds the limits of Rs 5 crore or 2.5 per cent of the net profits of the company, Godfrey Phillips requires a special resolution, which has to be passed from a super majority of 75 per cent of the total votes polled.

Congress on Sunday claimed that a combination of slow wage growth and «back-breaking» inflation has caused an unprecedented decline in real wages and said that like the "proverbial ostrich", the government continues to remain blind to the most fundamental challenge faced by the Indian economy. Congress general secretary in-charge communications Jairam Ramesh said a new report by a noted brokerage firm has once again shed light on the truth that the Union Government has consistently denied — real household incomes in India are facing a persistent decline. «A combination of slow wage growth and back-breaking inflation has caused an unprecedented decline in real wages (wages adjusted for price rise) and therefore incomes,» he said in a statement. Ramesh pointed out that several surveys and data sets — including the Annual Survey of Unregistered Enterprises (ASUSE), the Reserve Bank of India's KLEMS data, and the Household Consumer Expenditure Survey (HCES) — have demonstrated financial distress among working class Indians.

Sebi directs Religare’s board, Saluja to seek approvals for Burman open offer “We are very upset about it. It should not have been done. Accounts have been filed and submitted to the exchanges, so there is no valid reason for pushing the AGM," one of the investors said on condition of anonymity.

The NSE Nifty index ended the session 187.45 points up at 25010.6, while BSE Sensex rose 611.9 points to 81698.11.

This column is part of the eighth annual Heard on the Street stock picking series. Pharmaceutical firm Grifols is wounded. The bleeding can be stopped. Between the time it first listed on Spain’s stock market in 2006 and the onset of the Covid-19 crisis in 2020, the Barcelona-based company outperformed the S&P 500 almost fivefold thanks to its role as a supplier of blood-plasma-based medicines and its geographical diversification.

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After Jen Roche, the architect of last year’s rebranding of the giant broker-dealer network Osaic, bolted this month to rival LPL Financial, more changes are coming for the company’s senior management team who report to CEO Jamie Price.

InterGlobe Enterprises, the biggest shareholder of IndiGo airline, has opened its boutique lifestyle hotel Miiro in Paris and Barcelona and is looking to add more properties in Europe over the next couple of years, a top official said. Neena Gupta, CEO of Miiro, said Le Grand Hotel Carye in Paris opened in July and Borneta in Barcelona this month. The entry-level luxury lifestyle hotel brand will continue back-to-back launches into 2025 with London and Vienna. Templeton Garden in London, located in the leafy area of Earl's Court, will offer 156 rooms, complemented by a cafe-deli, a neighbourhood restaurant, a vibrant bar, and an outdoor F&B experience in an expansive garden oasis in the Spring of 2025, she said.

Generative AI is evoking strong interest from clients and there is a huge mobilisation of GenAI within Infosys as well, CEO Salil Parekh has said, asserting that he does not foresee any layoffs in his company on account of these new-age technologies. On the USD 3.9-billion GST tax demand, Parekh said Infosys has already given out updates and made disclosures in the market (through BSE filing) and has no further update to share. «We have no new update. The status is as it was in terms of what we shared externally a few days ago,» Parekh said when asked if the company will be making provisions for the same, given the demand in back taxes dating back several years. In an interview to PTI, Parekh said there is a huge reception from clients on Generative AI and likened it to the adoption curve seen for digital and cloud technologies in the past.

₹1,338 crores and ₹936 crores on Google for abuse of its dominant position in the Android mobile devices ecosystem and its play store and in-app payments, respectively. These penalties reflect growing concerns about Big Tech’s market power and its impact on competition and consumer choice. The draft digital competition law sets specific criteria for determining which enterprises qualify as SSDEs.

The telecom regulator's ambitious project to deploy blockchain for a first-of-its-kind use case of checking spam through telecom channels-SMS and voice-has had multiple setbacks since its deployment started in 2020. Price wars among telecom companies, a lack of seriousness among enterprise senders of commercial messages, and evolving tactics among spammers are helping spam continue largely unabated while blocking some genuine messages to customers. Back in March 2021, nearly 50%, or 370 million, commercial messages, including OTPs, failed to deliver when the template filtering system was first implemented. Another such disruption-albeit not of that scale-is expected to occur from September 1 when weblinks filtering will go live. ET explains the regulations and their impact over the years. What are TCCCPR Regulations? Back in 2018, the Telecom Regulatory Authority of India (Trai) overhauled the primitive anti-spam regulations to bring in the Telecom Commercial Communication Customer Preference Regulation (TCCCPR) 2018.

previous week’s funding total of $238.1 million. This week, startups raised funding through 16 rounds compared to 26 rounds in the same period last year, when they raised a total of $47.7 million, according to data from Tracxn.

Mortgage lender Loan Kuber has raised $3.5 million in a funding round led by Singapore-based venture capital firm TRTL Ventures and existing investor Inflection Point Ventures. The round, a mix of equity and debt, also saw contributions from Auxano, LetsVenture, Mavuca Capital, and prominent angel investors including Ruchi Deepak of Acko, Prashant Tandon of 1mg, and Pankaj Vermani of Clovia. With this fresh infusion, LoanKuber's post-investment valuation now stands at $27 million.