Enterprise Financial News

ED) had raided the residences of its top officials, including y Dr. Rashmi Saluja, Executive Chairperson, Mr. Nitin Agarwal, Group CFO, Mr. Nishant Singhal, Group General Counsel of Religare Enterprises Limited (REL/ Company) and Mr. Chirag Jain, Chief Operating Officer of Religare Finvest Limited (Wholly owned subsidiary of the Company), on August 21, 2024, in a press release. ET had earlier reported that the ED had seized several documents including the demat and bank accounts of these officials.

Shares of Sunteck Realty Ltd.(up 2.99 per cent) ended the day as top gainers in the pack.

On the BSE, Olympic Cards(down 9.87 per cent), Saptak Chem(down 9.77 per cent), Ashram Online(down 9.16 per cent), FGP Ltd(down 9.03 per cent) and SAB Industries(down 7.37 per cent) were among the stocks that plunged over 5 per cent during the session.

Mawana Sugars Ltd.(up 4.02%), KCP Sugar & Industries Corporation Ltd.(up 2.27%), Simbhaoli Sugars Ltd.(up 1.99%), KM Sugar Mills Ltd.(up 1.62%), Rajshree Sugars & Chemicals Ltd.(up 1.27%), Triveni Engineering & Industries Ltd.(up 1.20%), Sakthi Sugars Ltd.(up 1.16%), EID Parry(India)Ltd.(up 1.09%), Bannari Amman Sugars Ltd.(up 1.01%) and Magadh Sugar & Energy Ltd.(up 1.00%) were among the top gainers.

Ambuja Cements in a pre-market block deal valued at around Rs 4,200 crore. The cement stock, which is up about 22% so far in the year, jumped 4% to the day's high of Rs 659.70 in the opening session following the large deal.

₹30,000 crore." The value of the family’s holdings in group listed companies is more than ₹10 trillion (about $126 billion), the person said. The immediate plan is to sell stake worth ₹3,000-4000 crore in Ambuja Cements Ltd, in which the promoters hold 70.3%. Rajiv Jain-led US-based boutique investment firm GQG Partners LLC and at least four other entities, including three large bank-promoted firms, are likely to buy the stake soon in a private placement, the person added.

The Canadian government awarded billions of dollars in contracts earmarked for Indigenous enterprises without always requiring bidders to prove that they were First Nations, Métis, or Inuit, a Global News investigation has found.

Adani Group's promoters are looking to sell shares worth ₹30,000 crore ($3.6 billion) over the next nine months as they look to rebalance their portfolio in listed companies that's currently worth about $126 billion. The promoters will pare stakes in some listed firms while increasing them in others, according to people with knowledge of the matter. The final aim of this rebalancing exercise is to hold 64-68% stake across firms. The stake sale will begin with Ambuja Cement and Adani Power while the holding will be increased in Adani Green Energy.

Union Home Minister Amit Shah on Thursday as dividend of the Repco Bank, a Government of India enterprise functioning under the administrative control of the Ministry of Home Affairs. Shah congratulated the Repco Bank on achieving the remarkable feat of registering a stellar 11-per cent growth rate in the financial year 2023-24.

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

LONDON — The body of British technology entrepreneur Mike Lynch, 59, has been retrieved from the wreckage of a yacht that sank off the coast of Sicily, a source familiar with the matter told CNBC Thursday, confirming earlier reporting by Sky News.

Mahindra Lifespace Developers Ltd.(up 1.03 per cent), Phoenix Mills Ltd.(up 0.56 per cent), Godrej Properties Ltd.(up 0.42 per cent), Brigade Enterprises Ltd.(up 0.33 per cent) and DLF Ltd.(up 0.3 per cent) were among the top gainers.

T20 World Cup, two people familiar with the matter said. Sydney Morning Herald was the first to report that Star has pressed for a renegotiation. India lifted the ICC Men’s T20 World Cup, which was held in the US and the West Indies to promote cricket in newer geographies; however, many advertisers skipped the event since fewer Indians were likely to watch these matches due to inconvenient timings, in a setback for Star.

NEW DELHI : Sinch AB, a Swedish communications platform service provider, will enable rich communication services (RCS) messaging to users of major Indian telecom companies. After partnering with Vodafone Idea Ltd and Reliance Jio Infocomm Ltd, Sinch has now onboarded Bharti Airtel Ltd as well. Global chief executive Laurinda Pang told Mint in an exclusive interaction that Apple enabling RCS on iPhones has opened up an opportunity for the technology in markets like the US and Europe.

Online vendors have generated 15.8 million jobs in India, including 3.5 million for women, with about 1.76 million retail enterprises participating in e-commerce activity, says a report released on Wednesday. The report 'Assessing the Net Impact of e-Commerce on Employment and Consumer Welfare in India' was launched by Commerce and Industry Minister Piyush Goyal. «Plugging in data from our survey, we estimate that online vendors generate 15.8 million jobs, including 3.5 million jobs for women,» the report prepared by Pahle India Foundation (PIF), a Delhi-based policy research institute, said. E-commerce, according to the report, has been a key driver of employment generation In India. On an average, online vendors employ 54 per cent more people and almost twice the number of female employees, compared to offline vendors.

Aries Agro Ltd.(up 15.46%), Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 9.62%), Khaitan Chemicals & Fertilizers Ltd.(up 5.11%), Chambal Fertilisers & Chemicals Ltd.(up 3.65%), Paradeep Phosphates Ltd.(up 2.34%), Madhya Bharat Agro Products Ltd.(up 1.98%), Gujarat State Fertilizer & Chemicals Ltd.(up 1.61%), The Fertilisers and Chemicals Travancore Ltd.(up 1.52%), Gujarat Narmada Valley Fertilizers & Chemicals Ltd.(up 1.45%) and Zuari Agro Chemicals Ltd.(up 1.12%) stood among the top gainers.

Shares of Sunteck Realty Ltd.(up 2.25 per cent) ended the day as top gainers in the pack.

Orient Green Power Company Ltd.(up 10.01%), India Power Corporation Ltd.(up 6.97%), CESC Ltd.(up 6.14%), GE Power India Ltd.(up 5.00%), Reliance Power Ltd.(up 5.00%), Ravindra Energy Ltd.(up 5.00%), Indo Tech Transformers Ltd.(up 5.00%), RattanIndia Power Ltd.(up 4.97%), Jaiprakash Power Ventures Ltd.(up 3.76%) and Gujarat Industries Power Company Ltd.(up 2.99%) stood among the top gainers.

Read this | Tata, Vedanta, other business groups join the market upswing The analysis is based on data from the Association of Mutual Funds in India (Amfi), which classifies stocks based on guidelines from the Securities and Exchange Board of India issued in 2017. The latest categorization is derived from the average market capitalization of listed companies during the six months ended 30 June 2024.

Avalara, a cloud-based tax compliance solutions provider, plans to onboard about 1,000 new employees in the next nine months across engineering, tax, content, sales support and professional services functions. The move is part of its efforts to establish India as a centre of technical excellence and its planned expansion in the Asia-Pacific region, according to a company statement. “Despite India’s competitive employment market, the US-based solutions provider remains committed to enhancing capabilities in tax technology, legislation, e-invoicing, and global tax compliance by investing significantly in the country's technological talent,” the company said.

Macs between April and June on enterprise deals, Mint reported on 3 August. Overall PC sales in India rose 7% year-on-year to 3.39 million units during the period.