Enterprise Financial News

stocks are under F&O trade ban on Friday viz. Aditya Birla Fashion and Retail (ABFRL), Balrampur Chini, Biocon, Canara Bank, GMR Airports and Infrastructure, Piramal Enterprises (PEL), Punjab National Bank (PNB), Steel Authority of India (SAIL), Vodafone Idea and Zee Entertainment Enterprises. The latest entrants are Canara Bank and PEL.

Tata Motors: The vehicle manufacturer is set to announce its Q4 results on May 10, with expectations of strong results due to volume growth, improved performance of its British unit JLR, and favourable commodity prices. The company's consolidated net profit is projected to rise by 33% to ₹7,084 crore, and revenue is likely to increase by 15% to ₹1.22 lakh crore. The growth is attributed to expansion in JLR and positive growth in India's PV and CV divisions.

BEIJING — European companies in China are finding it harder to make money in the country as growth slows and overcapacity pressures increase, according to a survey released Friday by the EU Chamber of Commerce in China.

generative artificial intelligence (gen AI) proofs of concept (PoCs) in India went into production in fiscal year 2024, according to estimates by consulting firm EY India. Additionally, 15-20% of domestic enterprises and 30-40% of global capability centres (GCC) of multinationals have rolled out gen AI PoCs, EY's analysis of the last two quarters showed.

Freshworks founder Girish Mathrubootham attributed a recent slide in the Nasdaq-listed company’s stock price to market anxiety regarding the impact of the artificial intelligence (AI) wave, dismissing the leadership transition or acquisition announcements that the company made last week as the possible reasons. “The reaction was quite surprising for us. We did not expect it to be so drastic. We understood from investors and analysts that the whole SMB (small and medium-sized businesses) pressure in the customer service market actually got our investors thinking if Freshworks is going to be disrupted by AI,” Mathrubootham said.

Tata Motors, Bank of Baroda, Cipla, BPCL, Manappuram Finance among others will be in focus due to various news developments and quarterly earnings. Tata Motors, Bank of Baroda, Cipla Shares of Tata Motors, Bank of Baroda and Cipla will be in focus as the companies will announce their fourth quarter results today.

₹137.09 crore. It is a significant improvement compared to the loss of ₹195.87 crore in the same period last fiscal year.

invested nearly ₹300 crore to fund the construction of a new villa development project by Cybercity Builders & Developers in Hyderabad, said people with direct knowledge of the matter. Part of the funding will also go towards acquiring land that Cybercity Developers bought from Phoenix Group, the people said. One of the subsidiaries of Phoenix Group had earlier purchased the land from erstwhile owner Gulf Oil India, a Hinduja Group company.

Proximus is aiming to double its revenue from the digital communications business to $3 billion and operating margins to 15% over the next three-four years after buying Route Mobile in India's biggest in-bound FDI deal in the domestic cloud communications industry. «We are extremely excited about the synergies emerging out of this deal, that is, leveraging Route Mobile's India success story to grow our communications business in USA and Europe markets, while also taking our affiliate company Telesign's digital fraud prevention solution to enterprises in India,» Guillaume Boutin, CEO, Proximus, told ET on Thursday. Proximus has completed the acquisition of 57.56% of RML's shares held by promoters for ₹643 million (₹5,922 crore) in cash.

Zee Entertainment Enterprises will meet on May 17, Friday, to consider and approve the company's financial results for the quarter and year ended March 31, 2024. It is also likely to recommend the payment of equity dividend for the financial year 2023-24. The company announced the development after market hours on Thursday. The stock ended at Rs 132.40 on the NSE, down 1.49%.

Adani Power Ltd.(up 5.54%), RattanIndia Power Ltd.(up 4.59%) and Hitachi Energy India Ltd.(up 0.36%) stood among the top gainers.

Larsen and Toubro on Thursday announced that it was elevating R Shankar Raman as the Preaident of the engineering and construction conglomerate. Post the promotion, Raman will continue to hold the position of the whole-time Director and CFO of the company as well. The company's Senior Executive Vice President (EVP), Energy, Subramanian Sarma has been elevated to whole-time Director and President, Energy.

Indian Hotels Company, Central Depository Services (India) Ltd (CDSL) , Welspun Enterprises , Sterling and Wilson Renewable Energy (SWSOLAR) are the four stock picks by Yes Securities for the month of May'2024. Central Depository Services (India) Ltd (CDSL).

₹511.60 apiece during today's trading session, as investors reacted negatively to the company's performance in the March quarter. The decline in the stock price today has pushed it to trade near its lowest point in the past two months.

₹1,618 crore from ₹954 crore in FY23. In addition to announcing its best-ever financial performance, the BSE declared a final dividend of Rs 15 per equity share for FY 2023–2024, as per the filing. In FY24, the exchange's net profit climbed to ₹404 crore, a 97% rise over the previous fiscal year.

Adani Enterprises Limited (AEL). According to a January note by American brokerage firm Cantor Fitzgerald, AEL "is at the core of everything India wants to accomplish." The company functions as an incubator for Adani's businesses. Many have been spun out and become leading players in their respective sectors.

Piramal Enterprises, a prominent diversified non-banking financial company (NBFC), experienced a 6.15% decline in its shares during today's intraday trade, reaching ₹839 apiece. This drop followed the company's release of its Q4 FY24 and full fiscal FY24 financial figures. The decline witnessed today has resulted in the stock losing 10.4% of its value over the course of this week.

Tiger Woods will be the lone player on a five-member subcommittee that will be involved in negotiations with the Public Investment Fund, part of a busy day of governance as the PGA Tour tries to strike a deal with Saudi backers of LIV Golf. Woods was appointed to the PGA Tour board in August, making him the sixth player-director and the only one whose board term has no limits. The tour said Woods will be part of the «transaction subcommittee» on the board of PGA Tour Enterprises that will handle day-to-day negotiations as PIF seeks to become a minority investor. Also on the subcommittee are PGA Tour Commissioner Jay Monahan, board chairman Joe Gorder, John W. Henry of Fenway Sports Group and Joe Ogilvie, a former tour player appointed as a director liaison in March.

stocks are under F&O trade ban on Thursday viz. Aditya Birla Fashion and Retail (ABFRL), Balrampur Chini, Biocon, GMR Airports and Infrastructure, Vodafone Idea, Punjab National Bank (PNB), Steel Authority of India (SAIL) and Zee Entertainment Enterprises. The Future & Options contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.

Larsen & Toubro: The company reported a 10% rise in net profit for the March quarter, surpassing estimates with a profit of ₹4,396 crore. Despite a 5% decrease in order inflows in the last quarter, the company saw a 31% growth in order inflows for FY24, crossing ₹3 trillion. The company's consolidated order book stood at ₹4.8 trillion as of 31 March, a 20% increase from the previous year.

MUMBAI: Piramal Enterprises (PEL), the non-banking finance company of the real estate and pharma group swung to a profit in the March quarter helped by a large tax write-back even as higher funding costs and continued paring of its wholesale loan book pressured earnings. The consolidated net profit was 137 crore from a loss of 196 crore a year earlier helped by a 1,203 crore tax write-back including the carrying forward of a loss of 10,627 crore, arising from the acquisition of the insolvent DHFL two years ago. The write-back also included tax gains from investments in alternative investment funds and other reversals, CEO Jairam Sridharan said. On an annual basis, PEL swung to a loss of 1,684 crore from a profit of 9,969 crore, due to the impact of AIF provisions during the fiscal.