Enterprise Financial News

Strategic Minerals, Union Mines Minister G Kishan Reddy announced Monday. This decision was taken during 6th Governing Body meeting of the National Mineral Exploration Trust (NMET). This not-for-profit trust operationalised by the union Mines Ministry is funded by levies on proceeds from sale of domestically produced minerals in the county. Its purpose is to encourage carrying out of regional and detailed exploration for augmentation of the country’s mineral resources. An official statement said a 25% exploration incentive for agencies engaged in discovering Critical and Strategic Minerals will “significantly enhance exploration efforts in these vital areas, contributing to India's self-reliance in mineral resources.”

Sunil Mittal on Monday said the conglomerate's decision to acquire a 24.5 per cent stake in BT Group marks a «good, long-term investment» and an «attractive buy», citing the British company's strong portfolio of home broadband, fibre, mobile and enterprise offerings. Mittal, a telecom industry stalwart, exuded confidence about the investment and business prospects of BT and indicated that while the priority, for now, is to understand the company and the UK market in-depth, «if there are more opportunities in Europe, we will certainly be open to it in future». On Bharti's decision to buy a 24.5 per cent stake in BT Group — a move that would make it the single largest shareholder in Britain's largest broadband and mobile company — Mittal said: «I think this is a very attractive buy… the UK and European telecom companies are trading at low multiples...so given the cash flow expectations of BT, we believe this is going to be a good investment, and it is a long-term investment.

Inox Wind Ltd.(up 19.70%), Inox Wind Energy Ltd.(up 10.00%), Suzlon Energy Ltd.(up 5.00%), Hitachi Energy India Ltd.(up 4.58%), KPI Green Energy Ltd.(up 3.19%), Energy Development Company Ltd.(up 2.79%), Power and Instrumentation(Gujarat)Ltd.(up 2.00%), Karma Energy Ltd.(up 1.97%), Jaiprakash Power Ventures Ltd.(up 1.72%) and Ravindra Energy Ltd.(up 1.56%) stood among the top gainers.

Avadh Sugar & Energy Ltd.(up 8.30%), Triveni Engineering & Industries Ltd.(up 2.81%), EID Parry(India)Ltd.(up 2.61%), Dwarikesh Sugar Industries Ltd.(up 1.97%), Ponni Sugars(Erode)Ltd.(up 1.83%), Magadh Sugar & Energy Ltd.(up 1.33%), Dalmia Bharat Sugar and Industries Ltd.(up 1.30%), Uttam Sugar Mills Ltd.(up 1.21%), KM Sugar Mills Ltd.(up 1.08%) and Dhampur Sugar Mills Ltd.(up 0.94%) stood among the top gainers.

«Our maps feature 3D junction views and many other attributes that are hard to replicate or compete with. Of course, people will try, and everyone is welcome to compete fairly, but it is quite challenging.,» says Rohan Verma, CEO & MD, MapMyIndia. Before discussing the earnings and other details, I wanted to get a sense from you about the competition, as you’ve been quite vocal about it. Ola is also a listed player, so I'm trying to understand better what unique selling proposition (USP) you offer and what the moat is for companies trying to catch up in this technology. Rohan Verma: Mapping is a serious business and building it is not at all easy.

Bohra Industries Ltd.(up 4.98%), Coromandel International Ltd.(up 3.09%), Khaitan Chemicals & Fertilizers Ltd.(up 2.63%), Paradeep Phosphates Ltd.(up 2.38%), Mangalore Chemicals & Fertilizers Ltd.(up 1.83%), Chambal Fertilisers & Chemicals Ltd.(up 1.08%), Rama Phosphates Ltd.(up 1.07%), The Fertilisers and Chemicals Travancore Ltd.(up 1.02%), Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 1.00%) and Madras Fertilizers Ltd.(up 0.32%) were among the top gainers.

IRFC, Vodafone Idea, Adani Enterprises, Honasa Consumer, Siemens, Jubilant FoodWorks among others will be in focus due to various news developments and first quarter results IRFC, Vodafone Idea, NMDC, Hudco, SJVN Voltas Shares of IRFC, Vodafone Idea, NMDC, Hudco, SJVN and Voltas will be in focus as the companies will announce their first quarter results today.

Infinyte.Club, a wealth creation and management platform for tech and startup employees, has raised $3.6 million in a funding round led by Elevation Capital. The round also saw participation from angel investors such as Cred founder Kunal Shah, Meesho cofounder Vidit Aatrey, Unacademy cofounder Gaurav Munjal, Razorpay cofounder Harshil Mathur and others. The funds will be used to enhance the technology and grow the team.

IPE Plus Fund, finds itself in the crosshairs of Hindenburg Research, its New Delhi-born, Singapore-based, founder and chief investment officer (CIO) Anil Ahuja finds himself in the news yet again. Ahuja was among the first to make a private equity bet on the Adani Group, while he was at 3i Infrastructure, which he joined in 2005. In 2007, 3i made the first investment from its Indian infrastructure fund, paying $227 million (Rs897 crore at the time) for an undisclosed stake in Adani Power Ltd, then a fully-owned subsidiary of flagship Adani Enterprises Ltd. According to a TOI report, with the enterprise value of Adani Power pegged at Rs 10,850 crore, 3i's equity stake in Adani Power worked out to around 8%. This was 3i’s largest transaction in India since it started investing in the country in mid-2005. It held onto the stock for over seven years. When it sold a 2% block in the company in 2014, VC Circle calculated a 25-30% loss in pound sterling (40% in dollar terms) largely on account of sharp depreciation of the Indian currency. Ahuja left 3i in 2013 and joined IPE Plus Advisors in January 2014. Read More: Madhabi Buch made disclosures, investors should read Hindenburg disclaimer: Sebi

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...

Vodafone Idea, Hindustan Aeronautics (HAL), Mazagon Dock, Hero MotoCorp, IRFC, IRCTC, HUDCO, Apollo Hospitals, Samvardhana Motherson, GMR Airports Infrastructure, Nykaa, and Ola Electric will be releasing their June quarter report cards this week. Here’s the list:

NCLT has ordered initiating insolvency proceedings against Coffee Day Enterprises Ltd (CDEL), the parent company of Coffee Day Group which operates Cafe Coffee Day chain of coffee houses. The Bengaluru bench of the NCLT (National Company Law Tribunal) on August 8 admitted the plea filed by IDBI Trusteeship Services Ltd (IDBITSL) claiming a default of Rs 228.45 crore and appointed an interim resolution professional to take care of the operation of the debt-ridden company. CDEL, which also owns and operates a resort, renders consultancy services and is engaged in the sale and purchase of coffee beans, had defaulted in the payment of coupon payments of redeemable non-convertible debentures (NCDs). The financial creditor had subscribed 1,000 NCDs through private placement and paid Rs 100 crore towards the subscription in March 2019.

ICICI Bank, RailTel, CONCOR and Coal India among a host of other companies are likely to remain in focus next week as they are approaching their record dates for the purpose of dividend, bonus issues and stock split. The record date is the date set by the company to decide the shareholders who are eligible to receive the offer. To be eligible for a buyback offer, bonus issue or a stock split, the shares should be in the demat account on the record date.

Adani bombshell last year, Hindenburg Research has hinted at another 'big' India reveal. Hindenburg Research on Saturday, in a post on X(formerly Twitter), said, «Something big soon India.» On January 24 last year, Hindenburg Research published a report sharply criticizing the Adani Group just before the planned share sale of Adani Enterprises. The report led to an $86 billion decline in the market value of Adani Group's stocks and triggered a significant sell-off of its overseas listed bonds.

HCLTech's arm HCLSoftware plans to acquire 100 per cent stake in France-based software firm Zeenea SAS at a valuation of 24 million euros, in an effort to diversify its data and analytics business offerings. The all-cash deal is expected to be completed in September 2024, according to a regulatory filing by HCLTech. HCLSoftware Chief Product Officer Kalyan Kumar said the acquisition will enable the firm to offer a unified data intelligence solution that will power enterprises to discover, govern, connect, manage and better leverage data in their data engineering and GenAI journeys. «HCLSoftware Actian Data Platform has seen strong growth in Hybrid Data Management and Integration over the last few years. By adding metadata management, data catalog and governance capabilities, the customers would be able to consume these capabilities of the data platform,» the filing said.

Brigade Enterprises Ltd, and Phoenix Mills Ltd have performed exceptionally well, even through the pandemic. Will real estate stocks still outperform as the broader market continues to rise? To answer this, let us analyse the Nifty Realty/Nifty 500 ratio chart. Given that most constituents of the Nifty Realty index are mid-cap and small-cap stocks, the Nifty 500 is an appropriate benchmark.

Mint, pegs the growth in leadership hiring in the first six months of this year at 15% year-on-year. In January-June, 474 top-deck recruitments happened compared to 411 in the same period last year. Business head and chief operating officer (COO) appointments increased by 13%, while chief executive officer (CEO) hiring increased by 8%.

(Bloomberg) -- Billionaire Gautam Adani’s flagship firm is considering raising around 100 billion rupees ($1.2 billion) to 120 billion rupees through a share sale, according to people familiar with the matter, a move that would follow a separate recent fundraising deal at his power transmission unit. Adani Enterprises Ltd. may seek to raise funds through a so-called qualified institutional placement, or QIP, the people said, asking not to be identified because the matter is private.

The NSE Nifty index ended the session 304.96 points up at 24297.5, while BSE Sensex rose 874.94 points to 79468.01.

20 Microns Ltd.(up 11.68%), The Orissa Minerals Development Company Ltd.(up 10.00%), Madhav Marbles & Granites Ltd.(up 8.91%), Coal India Ltd.(up 6.39%), Pokarna Ltd.(up 4.66%), KIOCL Ltd.(up 3.48%), MOIL Ltd.(up 2.67%), NMDC Ltd.(up 2.62%), Gujarat Mineral Development Corporation Ltd.(up 2.33%) and Sandur Manganese & Iron Ores Ltd.(up 2.30%) stood among the top gainers.

Quant Small Cap Fund, the largest in the category managed by Quant Mutual Fund, increased its exposure to HFCL, Aditya Birla Fashion and Retail, Sun TV Network in July whereas reduced stakes in National Aluminium Company, Vimta Labs. In its July portfolio, the smallcap fund added 2.71 crore shares of HFCL, taking the total number of shares to 7.37 crore from 4.65 crore in June. The fund held 1.17 crore shares of Aditya Birla Fashion and Retail in June, and the total count stood at 2.94 crore in July after adding 1.77 crore shares to its portfolio. Quant Small Cap Fund added 87.12 lakh shares of Sun TV Network, which made the total number of shares in the portfolio at 93.95 lakh in July from 6.82 lakh shares in June. Around 67.79 lakh shares of Apeejay Surrendra Park Hotels were added to the portfolio.