Enterprise Financial News

Hindalco Industries Ltd stock was the top gainer among the Nifty 50 companies on Wednesday, hitting a new 52-week high of ₹713.50 before closing about 4% up on the day. Details of the proposed initial public offering (IPO) of its subsidiary Novelis in the US, which assigns it a market capitalisation of $12.6 billion ( ₹1.04 trillion) at the upper end of the $18-21 per share band, have brought cheer. This is almost two-thirds of Hindalco’s market cap of about ₹1.52 trillion before the announcement.

Shares of Sunteck Realty Ltd.(up 4.86 per cent), Brigade Enterprises Ltd.(up 1.51 per cent), Phoenix Mills Ltd.(up 0.48 per cent) and Oberoi Realty Ltd.(up 0.01 per cent) ended the day as top gainers in the pack.

₹142 on May 29, against previous at ₹138 per share on Tuesday.The state-owned construction company reported a 24.6 percent year-on-year increase in net profit, reaching ₹141.5 crore, and a 43 percent year-on-year surge in revenue from operations, totaling ₹4,025 crore for the reviewed quarter.Also read: Dividend stock: Multibagger chemical stock declares final dividend for fourth straight yearAt the operational level, NBCC's EBITDA rose to ₹240.2 crore in the fourth quarter of FY24, compared to ₹104.5 crore in the same period of FY23. The EBITDA margin improved to 6 percent from 3.7 percent in the previous fiscal's corresponding quarter.At 9:30 am on Wednesday, the NBCC shares opened 4.17 per cent higher at ₹144.80 per share.

All those Nvidia chips have to plug into something. That’s turning into a very profitable reality for Dell. The 40-year-old company that started life specializing in made-to-order personal computers has become one of the hottest names in the artificial-intelligence craze.

PWC will become the largest customer and first reseller of artificial intelligence startup OpenAI's enterprise product, as part of a new deal, the Wall Street Journal reported on Wednesday. OpenAI and PWC did not immediately respond to a Reuters request for comment.

HCL Technologies (HCLTech) has added generative AI or GenAI capabilities to its Maintenance, Repair and Overhaul (MRO) solution, to help optimise enterprises' asset utilisation. The infusion of GenAI into its MRO solution — iMRO/4 — would help enterprises raise the performance and efficiency of complex, high-value assets in transportation, technology, energy, aerospace and defense, according to a release.

₹8.89 for Q4, marking a substantial 288.83% year-on-year growth, which is a positive indicator for the company's profitability and shareholder value.Brigade Enterprises has also delivered strong returns to its investors, with a 1.62% return in the last 1 week, 58.36% return in the last 6 months, and a 36.64% year-to-date return, outperforming the market benchmarks.Currently, Brigade Enterprises commands a market capitalization of ₹28316.65 Cr, with a 52-week high/low stock price range of ₹1300 and ₹535.15 respectively, showcasing the company's market position and stock performance.Analysts covering Brigade Enterprises have provided mixed recommendations, with 1 analyst giving a Sell rating, 7 analysts recommending a Buy rating, and 4 analysts suggesting a Strong Buy rating as of 29 May, 2024.The consensus recommendation for Brigade Enterprises as of 29 May, 2024, stands at Buy, indicating positive sentiment and confidence in the company's growth prospects and financial performance.FAQsQuestion : What is the Q4 profit/Loss as per company?Ans : ₹206.09CrQuestion : What is Q4 revenue?Ans : ₹1702.37CrStay updated on quarterly results with our results calendarMilestone Alert! Livemint tops charts as the fastest growing news website in the world

Brigade Enterprises, one of India’s leading property developers, jumped 8.66% to reach a historic peak of ₹1,331.45 apiece in early morning trading today, driven by the company's robust performance for Q4 and the full fiscal year (FY24).On Tuesday, the company reported a 233% surge in its consolidated profit to ₹210 crore for the March quarter as compared to a net profit of ₹63 crore in the same period last year. Its revenue from operations soared to ₹1762 crore, an improvement of 100% compared to ₹872 crore in Q4 FY24.

stocks are under the Future and Options (F&O) trade ban on Wednesday viz. Biocon, ABFRL, Hindustan Copper, Vodafone Idea and Piramal Enterprises. GNFC managed to get out of the ban while ABFRL is a new entrant.

Aditya Birla Fashion and Retail: ABFRL reported a net loss of ₹266.4 crore for Q4, an increase from the previous year’s loss of ₹194.5 crore. The company’s revenue rose by 18.3% to ₹3,406.7 crore. EBITDA also increased by 47.1% to ₹283.7 crore, and EBITDA margin improved to 8.3% from 6.7%.

Aadhar Housing Finance, Aadi Industries, A-1 Acid, Aananda Lakshmi Spinning Mills, Aarnav Fashions, Aar Shyam India Investment Company, Aarvee Denims & Exports, Abate As Industries, Abhishek Infraventures, Amrapali Capital and Finance Services, Allied Computers International (Asia), Acme Resources, ADC India Communications, Addi Industries, Adjia Technologies, A.F. Enterprises, AGI Infra, AGS Transact Technologies, Ahluwalia Contracts (India), Ajwa Fun World & Resort, Aksharchem (India), Alan Scott Industries, Alkem Laboratories, Almondz Global Securities, Alpine Housing Development Corporation, Amarjothi Spinning Mills, Amkay Products, Andrew Yule & Company, Anjani Finance, Anjani Foods, Anna Infrastructures, Ansal Housing, Anshuni Commercials, Andhra Pradesh Tanneries, ARC Finance, Archies, Rajdarshan Industries, Aries Agro, Arigato Universe, Arihant's Securities, Ashapura Minechem, Ashnisha Industries, Asian Hotels (North), Assam Entrade, Astron Paper & Board Mill, Atcom Technologies, Atlas Cycles (Haryana), Automobile Products of India, AVG Logistics, AVT Natural Products, Bafna Pharmaceuticals, B.A.G.

Rajkot, Gujarat, claiming the lives of at least 27 individuals, including children, on May 25, also resulted in the death of one of the owners, Prakash Hiran.NDTV reported that CCTV footage captured Hiran at the location, and his vehicle was found at the scene of the fire.Also Read: Rajkot fire: Gujarat police arrest another TRP gaming zone partner, owner laughed in court & more | Top 10 UpdatesJitendra, Hiran's brother, raised concerns about his whereabouts, stating that Prakash was inside the gaming zone when the fire erupted. The forensics department gathered DNA samples from their mother, and it has been confirmed today that Prakash was among those who perished in the fire.Due to the severe damage caused by the fire, many bodies were unidentifiable, prompting the police to utilize DNA testing for identification purposes.Also Read: On Rajkot Game zone fire case, Gujarat HC says 'we do not trust local system, state': ReportPrakash, who held a 60 percent stake in the gaming zone, was also a partner in Raceway Enterprises and has been implicated by the Gujarat Police.

Top events of the day: Today's highlights include Prime Minister Narendra Modi's Odisha rallies, the NSE's ban on trading five stocks like Biocon and Vodafone Idea in the F&O segment, and Ztech India's IPO launch priced at ₹104 - ₹110 per share. Major companies, including Adani Transmission, IRCTC, and Tata Steel, are reporting Q4 earnings. Additionally, the NTA rescheduled CUET UG 2024 exams for Kanpur, Delhi, and Silchar centers due to paper distribution issues, with admit cards now accessible online.Prime Minister Narendra Modi is scheduled to visit Odisha today.

F&O ban list: The National Stock Exchange (NSE) has banned trading in five stocks on Wednesday, May 29, 2024, in the futures and options (F&O) segment due to their exceeding 95% of the market-wide position limit (MWPL).However, these stocks will be available for trading in the cash market. The NSE updates the list of securities in the F&O ban for trade every day.ALSO READ: ICICI Direct suggests three shares with 8% upside potential to buy this weekF&O ban list todayAditya Birla Fashion and Retail, Biocon, Hindustan Copper, Vodafone Idea, and Piramal Enterprises are among the five stocks on the NSE's F&O ban list for May 29.The National Stock Exchange (NSE) said the derivative contracts in the mentioned securities have crossed 95% of the market-wide position limit and have been currently placed in the ban period by the stock exchange.“It is hereby informed that all clients/members shall trade in the derivative contracts of said security only to decrease their positions through offsetting positions.

Adani Group's promoter entities, led by billionaire Gautam Adani, increased their stakes in two listed entities — Adani Enterprises and Adani Green Energy — in May ahead of a proposed fundraising programme for some of its group firms. According to NSE data, promoter entities bought 72.70 lakh shares of flagship company Adani Enterprises worth ₹2,162 crore and 1.39 crore shares of Adani Green Energy worth ₹2,507 crore in multiple tranches between May 10 and May 23.

FY25 capital expenditure outlay by 8-10% from the ₹11.11 lakh crore allocated in the vote on account when the full budget is presented thanks to better-than-expected tax revenue and a record surplus transfer by the RBI to the government. «Both tax and non-tax revenue are expected to be better,» a senior official told ET. «Additional surplus transfer from RBI provides enough headroom to spend more.» Finance minister Nirmala Sitharaman presented an interim budget in February as this is an election year. The results will be declared on June 4. The full budget is expected to be announced about a month after the new government is formed.

Narendra Modi reiterated the need to encourage business and not demonise it. The PM's support is welcome. Post-Independence governments had a socialist mindset, leading to many perverse incentives and disincentives for India Inc. This narrative spread beyond political and bureaucratic circles to shapers of public opinion, mass media and popular culture. Expectedly, businesses and livelihood creators responded to these disincentives by gaming the system. The licence raj was less about business excellence or competition, and more about how to manipulate licences and create monopolies. In that era, black marketing, hoarding and smuggling were common. Low economic growth and insignificant job creation led to poor economic opportunities for the first post-1947 generation. They had to endure a 7-year wait for a scooter, and had to get permits for cement, steel and landline phones. The well-educated wanted their children and wards to get into top state jobs and the armed forces to escape this shortage economy.

DGFT) has put on hold its recent decision on changes in maximum permissible wastage norms for gold, platinum, and silver content in jewellery exports, according to a media release issued by Gem & Jewellery Export Promotion Council (GJEPC) on Tuesday. In a virtual meeting on 28th May GJEPC urged DGFT for a balanced approach that enables minimal disruption to exports and considers both efficiency and the livelihoods of millions associated with the trade. In the meeting, GJEPC informed DGFT officials that the revised norms would have a disproportionate impact on the small and medium-sized enterprises (MSMEs), which represent 85% of all exporters. DGFT has given GJEPC time until 31st July to provide inputs on Standard Input Output Norms (SION). In this time period, GJEPC will conduct a detailed study on wastage norms on different categories of jewellery including plain, studded, machine-made and hand-made.

Bannari Amman Sugars Ltd.(up 1.17%), Ponni Sugars(Erode)Ltd.(up 0.67%), EID Parry(India)Ltd.(up 0.51%), Balrampur Chini Mills Ltd.(up 0.20%) and Avadh Sugar & Energy Ltd.(up 0.01%) stood among the top gainers.

Indo Tech Transformers Ltd.(up 5.00%), Karma Energy Ltd.(up 4.96%), RattanIndia Power Ltd.(up 4.74%), Torrent Power Ltd.(up 2.58%), Jyoti Structures Ltd.(up 1.00%) and Transformers & Rectifiers(India)Ltd.(up 0.27%) stood among the top gainers.

Lexus Granito(India)Ltd.(up 1.34%) stood among the top gainers.