Enterprise Financial News

Godrej Seeds & Genetics, part of the Godrej Industries Group, acquired shares worth ₹417.9 crore in Godrej Consumer Products on Thursday through bulk deals. According to BSE data, Godrej Seeds bought 30.56 lakh shares at ₹1,367.05 apiece. Three trusts belonging to the Godrej Enterprises Group (GEG) — BNG Successor Trust, HNG Family Trust, and SNG Successor Trust — sold shares worth ₹101.84 crore, ₹136.7 crore, and ₹179.35 crore, respectively.

Intro: Ratnaafin, in association with The Economic Times, presented MSME Growth Conclave to celebrate MSME Day, partnered by the Ahmedabad Chamber of Commerce Welfare Foundation and supported by India SME Forum and Kalyani Sahasik Mahila Vikas Sangh. Ratnaafin—a Non-Banking Financial Company in India—in collaboration with The Economic Times, proudly presented the MSME Growth Conclave to celebrate MSME Day, in partnership with Ahmedabad Chamber of Commerce Welfare Foundation and support of India SME Forum and Kalyani Sahasik Mahila Vikas Sangh. A celebration of the incredible contributions made by micro, small, and medium enterprises, the initiative had some of the most eminent speakers on the panel who discussed about the crucial roles that micro, small and medium enterprises play in driving the economic growth of Gujarat.

Sunteck Realty Ltd.(up 2.98 per cent), Prestige Estates Projects Ltd.(up 1.24 per cent), Brigade Enterprises Ltd.(up 0.34 per cent), Mahindra Lifespace Developers Ltd.(up 0.2 per cent) and Godrej Properties Ltd.(up 0.13 per cent) were among the top gainers.

IndusInd International Holdings (IIHL) plans to borrow ₹ 4,300 crore for the Reliance Capital acquisition through a non-convertible debenture (NCD) issue. Reliance Capital is currently undergoing the corporate insolvency resolution process, with Nageswara Rao Y appointed as administrator by the Reserve Bank of India under the provisions of the Insolvency and Bankruptcy Code, 2016, following an NCLT Mumbai bench order of December 2021.

₹2.1 trillion received in May 2024 has significantly eased the government’s fiscal constraint for the fiscal year 2024-25. CII has recommended that a part of this windfall be used for boosting capital spending by 25% over the revised figure for 2023-24. This would help maintain the upward trajectory of public capital expenditure and help crowd in private investment.

Bengaluru/Mumbai: In the run-up to the Union Budget 2024, Indian fintech firms are seeking regulatory clarity, hassle-free licensing procedures, tax considerations, and provisions for financial inclusion to facilitate easier access to credit for small and medium enterprises (SMEs), in their wishlist for the finance ministry. As the fintech industry looks to deepen their presence, they seek a clearer regulatory framework that establishes legal recognition, licensing procedures and supervision which will help level the field with traditional lenders.

GE Power India Ltd.(up 5.85%), Indowind Energy Ltd.(up 4.98%), Hitachi Energy India Ltd.(up 3.38%), PTC India Ltd.(up 2.93%), GE T&D India Ltd.(up 2.26%), Power and Instrumentation(Gujarat)Ltd.(up 2.00%), SJVN Ltd.(up 1.83%), JSW Energy Ltd.(up 1.74%), Inox Wind Energy Ltd.(up 1.73%) and Gujarat Industries Power Company Ltd.(up 1.66%) were among the top gainers.

Shares of Phoenix Mills Ltd.(up 7.11 per cent), Sunteck Realty Ltd.(up 2.5 per cent), Macrotech Developers Ltd.(up 1.43 per cent), Mahindra Lifespace Developers Ltd.(up 1.09 per cent) and DLF Ltd.(up 0.35 per cent) ended the day as top gainers in the pack.

A fresh war of words between the short seller — Hindenburg Research — and India’s markets regulator has thrown up an intriguing cast of characters behind the scathing report and related bets against the Adani Group that wiped out as much as $153 billion in market value last year.

Godrej Enterprises Group (GEG) — comprising the unlisted Godrej & Boyce and several closely held affiliates — is understood to be working on a strategic plan with the Boston Consulting Group to create integrated and scalable consumer and industrial solutions businesses. GEG aims to tap into synergies offered by business adjacencies to accelerate its growth after a recent realignment of revenue streams and companies in the century-old Godrej Group.

₹238,168 with OAEs reporting only 127,073 per unit. That means 85% of unorganized-sector enterprises were generating around ₹10,000 per month. The situation for hired workers was no better.

AstraZeneca India Private Limited (AZIPL), the global capability centre (GCC) of British-Swedish drugmaker AstraZeneca, announced an investment of Rs 250 crore ($30 million) to expand its Global Innovation and Technology Centre (GITC) in Chennai. The expansion includes adding close to 1,300 job roles focused on driving innovation, enhancing efficiency, and streamlining operations across the company globally. The facility currently occupies 334,000 square feet of office space at Ramanujan IT City, with plans to add approximately 180,000 square feet over the next six months to accommodate this expansion, creating AstraZeneca’s biggest global capability centre.

market capitalisation cut-off for a stock to make it to the largecap category in the upcoming Amfi semi-annual categorisation is expected to be Rs 84,000 crore compared to an average of Rs 67,000 crore in the six months ending December 2023, Nuvama said in a note. Meanwhile, the midcap threshold is likely to hover around Rs 27,500 crore this time compared to Rs 22,000 crore at the end of December 2023.

Indian cricket was confirmed on Tuesday evening (July 9) when Jay Shah, secretary of the Board of Control for Cricket in India (BCCI), announced that Gautam Gambhir would be the next head coach of the senior men’s team. Gambhir’s appointment is an expected one, an obvious one even, but oddly, also a slightly left-field choice. It was expected in that he was the preferred candidate of the powers that be. It was obvious in that he had relinquished his position as a member of parliament and simultaneously succeeded in guiding his IPL team to a trophy. It’s left field because Gambhir has no previous coaching experience whatsoever. Gambhir has not coached a state team in the Ranji Trophy, he has not worked with a zonal or national age-group team and even in the IPL. He has been a mentor and a director of cricket of sorts rather than a hands-on coach. In the IPL, Gambhir has had a phalanx of coaches under him to run day-to-day operations while he focussed on the bigger picture.

Budget 2024: As Finance Minister presents Union Budget on July 23 that will set the roadmap for the next five years of Prime Minister's third term, the e-commcerce sector hopes for a push towards Open Network for Digital Commerce (ONDC) and amendment of overall policy. Read More: Budget 2024 date: Finance Minister Nirmala Sitharaman to present Union Budget in Lok Sabha on July 23 «My expectation from the Government of India is to promote ONDC further because ONDC is in a way becoming an e-commerce platform for the small traders of our country, so we should talk about the creation and amendment of the overall e-commerce policy and about the enhancement of platforms like ONDC which have been created by the Government of India...» said Vijay Shekhar Sharma, Founder of Paytm.

More companies are rethinking the internet browser, the decades-old desktop application that carries an increasingly heavy enterprise workload. Designed and built originally for consumers, browsers can now connect to an array of workplace applications, from customer relationship management software to videoconferencing.

Nashik (Maharashtra) [India], July 9: KBC Global Ltd ( Previously known as Karda Construction Limited ) BSE - 541161, a prominent player in the construction and real estate development sector has handed over possession for 100 plus residential cum commercial units in its various ongoing projects in Nashik, Maharashtra. The group has handed over possession for total of 109 units from April 2024. Company handed over 76 units of Hari Kunj Mayflower Project, 19 units of Hari Krishna Phase IV projectOut of the total units handed over during the period, the company has handed over possession of 76 units of the project Hari Kunj Mayflower (MAHARERA Reg no: P51600020249), a residential cum commercial project situated at Karmayogi Nagar, Nashik ,Maharashtra - 422 009.

Bankrupt crypto firm Terraform Labs has announced plans to sell four of its businesses as part of a $4.5 billion deal with the United States Securities and Exchange Commission (SEC).

Zach Mersberger’s passion for helping small and medium-sized business owners stems from his own first-hand experience of building out his own firm.

HSBC FLEXI CAP BASIC FACTS DATE OF LAUNCH 24 FEBRUARY 2004

Daily Mirror, quoted the Lankan civil aviation minister T D Abeysuriya as saying there were no “suitable suitors" for the country’s national carrier SriLankan Airlines.  The minister hinted that the government may shelve its plans to sell the airline, and instead take on some of its debt and restructure it. SriLankan and Sri Lanka find themselves in a position that Air India and the government of India were in not too long ago. For years the Sri Lankan government has been bailing out its national carrier, which has a huge debt burden.