Enterprise Financial News

NEW DELHI : The government introduced a tax provision last year to prod large corporations into paying their micro and small enterprise vendors in time, only to hear concerns that it could backfire on the intended beneficiaries. It’s now looking to modify how large companies are taxed for delayed payments so that they do not decide to sidestep smaller vendors altogether to avoid the stringent tax treatment, said two officials aware of discussions in the government.

Stocks that traded heavily or had substantial price changes on Thursday: Walgreens, International Paper fall; McCormick, Apogee rise

HCG, India's largest speciality cancer care chain on Friday acquired controlling stake in 196-bedded Visakhapatnam-based cancer hospital Mahatma Gandhi Cancer Hospital and Research Institute (MGCHRI) for an enterprise value of Rs 414 crore. HCG will have initial 51% stake in MGCHRI, with plans to complete the acquisition of the additional 34% stake over the next 18 months. The revenue from operations of Visakhapatnam hospital for FY24, was Rs 120.2 crore with an EBITDA of Rs 42.2 crore. HCG said the acquisition is poised to significantly bolster cancer chain's annual EBITDA by Rs 3 per share and gain a leadership position with a dominant share in Vizag region.

Bitcoin miner CleanSpark Inc. has officially entered into a merger agreement with GRIID Infrastructure Inc., acquiring GRIID in an all-stock transaction valued at $155 million.

Sobha Ltd.(up 0.91 per cent), Godrej Properties Ltd.(up 0.79 per cent), Sunteck Realty Ltd.(up 0.46 per cent), Brigade Enterprises Ltd.(up 0.39 per cent) and DLF Ltd.(up 0.32 per cent) were among the top gainers.

₹18,000 crore as the airline's enterprise value. As a result, it acquired 100% stake in Air India, its subsidiary Air India Express and the entire 50% stake in ground and cargo handling joint venture Air India SATS. Among India's regional aircraft, SpiceJet has 21 De Havilland Canada Dash 8-400s, Alliance Air has a mix of 21 ATRs and one Dornier, and Indore-based Flybig has three de Havilland Canada DHC-6 Twin Otter aircraft.

Raghuvanshi on Thursday said the risk-based inspections based on revised Schedule M of the Drugs and Cosmetics Act will begin from July 1. «We will make a framework (for the risk-based inspection). We will switch the checklist and the questions which we look at when we go there (for audits),» Raghuvanshi said on the sidelines of an Indian Pharmaceutical Alliance (IPA) event. Raghuvanshi said there would be surprise inspections, which would take 3-4 days.

It has been hard to make money in Chinese stocks. Unlike the U.S. market, even the country’s tech giants have disappointed investors in the past few years.

Mazagon Dock Shipbuilders Share Price Today: Shares of Mazagon Dock Shipbuilders rallied nearly 12 per cent to hit a lifetime record-high mark during intra-day on Thursday, June 27, after bagging the ‘Navratna’ status from the finance ministry. The defence public sector undertaking (PSU) has delivered multi-bagger returns to investors over the last one-to-three-year periods.Shares of the premier warship and submarine builder rallied for the second straight day on June 27 after the finance ministry elevated the defence PSU to the Navratna status.

Also Read: Nifty Bank hit fresh highs, crosses 53,000 as it continues winning streak for the 4th day in a rowThese four stocks to buy are CE Info Systems, LIC Housing Finance, Ethos and NLC India.Here are the stock recommendations by analysts:CE Info Systems’ (MapmyIndia) growth potential and horizontal nature of services offered make it more comparable to global SaaS players, JM Financial said. It finds the company’s target of achieving over ₹1,000 crore revenue target by FY27 / FY28 achievable and estimates 32% and 32% revenue and EPS CAGR over FY24-28E.

Valtrust (formerly Valturst capital), is a Delhi-based multi-family office, offering investment advisory to families and individuals to grow their wealth and ensure inter-generational wealth transfer. Rahul Bhutoria, Valtrust's director and co-founder, assists families in managing their onshore and offshore investment portfolios. He shared insights on a broad range of topics related to SME IPOs during his conversation with ET Online.

Also Read- Titan share price in focus as stock trades ex-dividend today. Details hereDr.

Mazagon Dock Shipbuilders surged 6.5% today in early trade to a fresh 52-week high of Rs 4,269.75 on BSE as the company announced that it has been granted 'Navratna' status. “This is to inform that Department of Public Enterprises (DPE) vide its letter dated 25" June 2024 has approved the proposal for grant of Navratna status to Mazagon Dock Shipbuilders Limited,” the company informed the stock exchanges.

Mazagon Dock Shipbuilders, a leading defence public-sector shipyard under the Ministry of Defence (MoD) in India, surged nearly 7.5% to reach an all-time high of ₹4,271 per share.This jump followed the company's announcement via an exchange filing that the Department of Public Enterprises (DPE) has approved the proposal to grant Navratna status to Mazagon Dock Shipbuilders. This makes the company the 18th Navratna company among the public sector enterprises.

trade ban: GNFC, PNB, SAIL, and Indus Towers. Balrampur Chini Mills, Chambal Fertilisers, Granules, and Piramal Enterprises have successfully exited the ban list, while the remaining stocks continue to be restricted from F&O trading.

artificial intelligence personal computers is unlikely to trigger a strong replacement demand in India as compared to other countries even as IT hardware makers start flooding store shelves with the next-generation machines, industry experts said. While the ongoing AI revolution has prompted enterprises, education institutes and government organisations to deliberate on using high-performance compute servers for training AI models and developing use-cases, the demand for AI laptops and notebooks — that are priced at a hefty premium to regular PCs — is expected to soar only after their use-cases are established and people start using them, market trackers and industry executives said.

One of the founding beliefs at Fairway Wealth Management is clients overseeing their own personal wealth enterprise that they’ve created.

Modi 3.0 Budget 2024 Expectations: What are Finance Minister Nirmala Sitharaman's plans for taxpayers?The need to protect domestic industry from dumping of Chinese products featured prominently in the discussions."We represented our industry pain points, which are imports from China and the threats we face from China," said Ajay Sardana, chairman - National Expert Committee on Chemical and Petrochemical, Indian Chamber of Commerce."China has created a lot of overcapacity. After the pandemic, with the demand coming down, they are dumping products in India at a cheaper price.

Ambuja Cements and Ravi Sanghi, will sell stakes in the company through an offer for sale (OFS). The promoters plan to sell 9,092,000 shares, representing 3.52% of the total issued and paid-up equity share capital, the company said in an exchange filing.The floor price for the OFS has been set at ₹90 per share, representing a nearly 12 percent discount to Sanghi Industries' current market price of ₹102.According to the exchange filing, the OFS will open for non-retail investors on June 26 and for retail investors on June 27."Ambuja Cements Limited, the promoter of the Company have conveyed to us, their intention to sell the equity shares to enable us to comply with minimum public shareholding norms," said Sanghi Industries had in a stock exchange filing.As of March 31, 2024, Ambuja Cements held a 60.44% stake in Sanghi Industries.Ambuja Cements plans to offload up to 60,92,000 shares, representing a 2.36% stake, while Sanghi Industries will reduce its holding by 30,00,000 shares, equivalent to a 1.16% stake.Monarch Network Capital will act as the broker for the deal.The floor price for the shares will be ₹90.

Beetel Teletech on Tuesday said it has signed a deal with Alcatel-Lucent Enterprise to distribute the French company's product portfolio, including its networking and communications solutions such as network switches, wireless access points and routers. «By combining Alcatel-Lucent Enterprise's world-class product portfolio with our deep understanding of the Indian market, we are well-equipped to deliver unmatched value to enterprises across various critical sectors,» said Sanjeev Chhabra, managing director at Beetel, said in a joint statement.

Bharatiya Mazdoor Sangh, an RSS-affiliate central trade union, demanded the Centre extend the Mahatma Gandhi National Rural Employment Guarantee scheme for 200 days for each family from 100 now, inclusion of agriculture and allied sector work under the scheme and restoration of the old pension scheme. In its pre-budget meeting with the finance minister Nirmala Sitharaman, BMS general secretary Ravindra Himte demanded increasing the minimum pension under the Employees’ Pension Scheme (EPS), 1995 from Rs 1,000 to Rs 5,000 while enhancing of honorarium of scheme workers, especially for Asha, Aanganwadi, Mid-day Meal and National Health Mission workers. “The government must ensure provision of adequate funding for Beedi and other unorganised sector welfare boards and a minimum monthly pension of Rs 5000 and variable dearness allowance along with benefits of Ayushman Bharat for all EPS 95 pensioners,” it said in a statement issued on Tuesday.