Enterprise Financial News

NVIDIA’s recent rise to the top of the U.S. stock market also underscores the significant potential of the AI sector. Additionally, due to public endorsements from prominent national leaders and policymakers, market expectations for cryptocurrency assets have increased. However, accurately grasping market hotspots during capital rotation is a concern and focus for investors.

Mint explains the budget’s many nuances and its potential long-term impact. The biggest concern was whether the central government’s policy choices could change after the electoral outcome. Over the years, it had worked hard to improve spending efficiency by cutting back on revenue expenditure and focusing on capex which had a greater multiplier effect.

A British Columbia legal tech company has raised US$900 million, drawing in new investors Goldman Sachs Asset Management and Silicon Valley’s New Enterprise Associates Inc. and valuing the company — whose backers already include the Ontario Municipal Employees Retirement System (OMERS) — at US$3 billion.

Shares of Prestige Estates Projects Ltd.(up 7.13 per cent), Oberoi Realty Ltd.(up 3.31 per cent), Mahindra Lifespace Developers Ltd.(up 2.92 per cent), Sobha Ltd.(up 2.85 per cent) and Macrotech Developers Ltd.(up 2.22 per cent) ended the day as top gainers in the pack.

Tech Mahindra is likely to see a muted revenue growth in the first quarter ended June 2024, impacted by seasonal fall in Comviva business. Revenue for the reporting period should decline 1.6% year-on-year, according to an average estimate of four brokerages. Meanwhile, sequential revenue growth is seen anywhere between 0.3-0.9%.

Growth@work: The big message from Union budget 2024-25 Micro, medium and small enterprises are the life force of our economy and the flow of credit to them will have a multiplier effect on the economy. The FM announced several measures to simplify credit flow to MSMEs through a credit guarantee scheme and new assessment model for these businesses. The limit for Mudra Loans has also been increased from ₹10 lakh to ₹20 lakh under the Tarun category, which will have a cascading effect on the sector and its ability to create jobs.

Under pressure from the disappointment in the Lok Sabha polls, the government got a massive boost for its 2024-25 budget in the form of a windfall dividend transfer by the Reserve Bank of India (RBI). With help from that revenue gain, the Centre chose to focus on cutting the fiscal deficit, and offer some tax relief to boost consumption, but only with a marginal increase in revenue expenditure. Did the budget manage to fire on all cylinders, or did it just showcase policy continuity? Mint breaks it down: After an unexpected loss of majority in the elections, the temptation to deliver a pro-welfare or a populist Budget could have run high for the ruling party.

Alphabet beat second-quarter revenue and profit estimates on Tuesday, driven by a rise in digital advertising sales and healthy demand for its cloud computing services, but flagged that capital expenses would remain high for the year.

₹11.11 trillion. The multiplier effect of this will support demand for commodities such as steel and cement and is also in sync with India’s plan to improve its logistics efficiency. Second, emphasizing the vision for energy transition provides support to India’s journey towards non-fossil fuels, which will allow the country to decarbonise while it pursues faster growth.

Legal tech company Clio said on Tuesday it had raised US$900 million in an investment round led by venture capital firm New Enterprise Associates (NEA), in one of the largest fundraises by a Canadian startup.

credit flow to the micro, small & medium enterprises (MSME) sector in the budget is likely to give a major thrust to digital lending startups.

$7 trillion economy by 2030. Will this year’s budget emphasize social spending while reviving the rural economy and facilitating job creation?As we approach Budget 2024, anticipation is high regarding what will be the government's focus and what could be potential beneficiary sectors.

large language models (LLMs) such as Sarvam’s OpenHathi and Ola’s Krutrim. This even as their global counterparts like OpenAI’s GPT-4o and Meta’s Llama have started showing enterprise grade support for Hindi, Marathi, Kannada and other Indian languages across text and voice.

GDP growth of 6.5–7%, “with risks evenly balanced, cognizant of the fact that the market expectations are on the higher side". However, it has not explained the assumptions that led it to arrive at this projection.

₹38,765 crore. While this dip was largely anticipated, the real letdown came from its retail arm, Reliance Retail Ventures Ltd (RRVL), where growth momentum slowed significantly. RRVL’s revenue growth stood at 7% year-on-year in Q1, even as the average area operated in terms of square feet increased by 18%.

economic Survey 2024 tabled by Union Finance Minister Nirmala Sitharaman, revealed the job scenario in India and the steps government plans to take to meet the demands.

On the BSE, Jetmall Spices(down 11.11 per cent), Remedium Lifecare(down 10.91 per cent), Colorchips New Media(down 9.98 per cent), Keerthi Ind(down 9.12 per cent) and Jaipan Ind(down 8.57 per cent) were among the stocks that plunged over 5 per cent during the session.

Oberoi Realty Ltd.(up 4.41 per cent), Godrej Properties Ltd.(up 1.23 per cent), DLF Ltd.(up 1.13 per cent) and Mahindra Lifespace Developers Ltd.(up 0.23 per cent) were among the top gainers.

India’s intensely competitive smartphone market, Apple is poised for an aggressive play in the personal computer (PC) space, with revenue from its range of Mac PCs likely to nearly double this year, say experts. Sales of Mac PCs are expected to grow more than 14% in 2024, rebounding from a decline last year, thanks to their growing acceptance in enterprise and educational segments, despite the premium pricing of about 1 lakh per device, the experts say.

workspace provider Incuspaze has raised $8 million (₹67 crore) led by the India Inflection Opportunity Fund (IIOF) and other financial institutions in its maiden funding round. The IIOF specialises in late-stage venture capital investments, focusing on companies poised for pre-IPO stages with clear strategies for stock market listing. Incuspaze has a portfolio of 3 million square feet in 18 cities across 44 locations. «This investment will significantly bolster our capabilities to provide top-tier workspace solutions tailored to enterprises, MSMEs, and startups. With our clear profitability matrix and enterprise-focused approach, we aim to become a dominant player in Indi's flexible workspace market,» said Sanjay Choudhary, founder & CEO, Incuspaze. It recently leased 220,000 square feet of space in Gurugram's M3M Urbana project on Golf Course Extension Road.

tech industry body Nasscom said in a report. Despite the increase in investments, however, there was a nearly 50% decline in funding rounds during the first half of this year compared to the second half of last year, Nasscom said in its latest Generative AI tracker.