Enterprise Financial News

09.05 / 00:47

UPS CEO Software economy Enterprise reports Schools Inflation-wary Fed may put IT revival on hold

Indian outsourcing leaders will likely have to wait longer, perhaps until the start of FY26, for a revival in business as the US Federal Reserve could keep interest rates elevated in the world’s largest economy to ensure a lasting victory over politically uncomfortable inflation. High real rates could elevate hurdle rates for companies, potentially crimping growth in discretionary technology spends. “The Fed's hawkish approach is a double-edged sword. Higher interest rates could lead US clients to curtail discretionary IT spending, impacting revenue growth for Indian firms,” said Hansa Iyengar, senior lead analyst for UK-based IT research firm Omdia.

08.05 / 18:57

Progressive Enterprise Trade ICG Enterprise unveils £25m 'opportunistic' share buyback programme

In a stock exchange notice today (8 May), the £1.3bn trust said the scheme will run alongside its progressive dividend policy and long-term share buyback programme, which saw £13m worth of shares bought back in the year ended January 2024. According to chair Jane Tufnell, the latest share buyback programme will enable the trust to «take advantage of current trading levels where the opportunity to purchase shares in meaningful size and at a significant discount presents itself». London Stock Exchange Group eyes £1bn buybacks in 2024 «In announcing this programme the board is seeking...

08.05 / 16:09

markets UPS Enterprise wellness reports International Piramal Enterprises to merge with subsidiary

MUMBAI : After the Aditya Birla group, it’s now Piramal’s turn. Piramal Enterprises Ltd on Wednesday decided to merge with its unlisted subsidiary Piramal Capital & Housing Finance Ltd, becoming the second financial institution to embrace a structure that spares a mandatory public share sale by the unlisted arm. The merger, effective 1 April, 2024, is expected to be completed in nine to 12 months.

08.05 / 11:37

UPS Citi Provident Enterprise Research information volunteers 'Zomato Giveback': Deepinder Goyal unveils India's 1st crowd-supported weather infrastructure

Zomato, provide localised, real-time information on key weather parameters such as temperature, humidity, wind speed, rainfall etc," he said. Currently available across 45 large cities, these weather stations will expand in other Indian cities “very soon". Goyal, in his post, said that the “rich data" from these weather stations hold significant potential in unlocking weather use cases for enterprises and research institutes.

08.05 / 09:13

markets IPO Booking security Enterprise Trade Experts TGIF Agribusiness IPO: Check GMP, subscription status on day 1, issue size, key details to know

₹93 per share. The IPO lot size for TGIF Agribusiness is 1,200 shares. The company is essentially a horticultural business that engages in open farming of specific fruits and vegetables, as stated in the prospectus.

08.05 / 06:33

Provident FIVE Digital Compilation security Analysis Enterprise Weak tech spending by telcos could put IT revival on hold

Mint analysis of these firms—Tata Consultancy Services (TCS), Infosys, HCL Technologies, Wipro and Tech Mahindra—revealed that revenue from the communications and media vertical was down nearly 3% from $8.49 billion in FY23 to $8.25 billion in FY24. Tech Mahindra was almost single-handedly responsible for this decline, having lost $320 million or 12.1% in annual revenue from telecom clients in FY24. A consensus of three analysts compiled by Mint projected a further downside of 3-5% in telecom revenue for the industry’s top five firms in FY25.

08.05 / 06:33

markets Software Enterprise trends track cover reports Q4 results today: L&T, Tata Power, BSE, TVS Motor, Hero Motocorp, and Canara Bank to report Q4 earnings on May 8

Q4 results today on May 8: At least 30 companies will announce their financial results for the fourth quarter of FY24 today, Wednesday, May 8. Also Read | Q4 results: L&T, Tata Motors, SBI, TVS Motors among companies to declare earnings this week; check full list here The fourth quarter earnings season for this fiscal year kicked off in the second week of April 2024 and is still underway, with over 260 companies set to declare their Q4 results this week.

08.05 / 05:31

markets Enterprise Micron Trade Lexus Updates orienteering Stock market update: Mining stocks mixed as market falls

Sandur Manganese & Iron Ores Ltd.(up 3.44%), NMDC Ltd.(up 1.81%), Coal India Ltd.(up 1.07%), Gujarat Mineral Development Corporation Ltd.(up 1.06%), Aro Granite Industries Ltd.(up 0.98%), The Orissa Minerals Development Company Ltd.(up 0.52%) and Pokarna Ltd.(up 0.19%) were among the top gainers.

08.05 / 04:49

markets UPS Enterprise Trade AGRO Updates Stock market update: Fertilisers stocks up as market falls

Southern Petrochemicals Industries Corporation Ltd.(up 2.17%), Nagarjuna Fertilizers and Chemicals Ltd.(up 1.95%), Zuari Agro Chemicals Ltd.(up 1.71%), Aries Agro Ltd.(up 1.43%), Chambal Fertilisers & Chemicals Ltd.(up 1.28%), Gujarat State Fertilizer & Chemicals Ltd.(up 1.19%), Sikko Industries Ltd.(up 1.17%), Rashtriya Chemicals & Fertilizers Ltd.(up 1.09%), Agro Phos India Ltd.(up 1.05%) and National Fertilizers Ltd.(up 0.92%) were among the top gainers.

08.05 / 04:49

markets UPS Enterprise PTC Trade Updates Stock market update: Power stocks up as market falls

RattanIndia Power Ltd.(up 4.33%), Transformers & Rectifiers(India)Ltd.(up 4.21%), Indowind Energy Ltd.(up 4.04%), PTC India Ltd.(up 3.70%), NLC India Ltd.(up 3.12%), SJVN Ltd.(up 2.53%), Hitachi Energy India Ltd.(up 2.10%), Power and Instrumentation(Gujarat)Ltd.(up 2.00%), Indo Tech Transformers Ltd.(up 1.99%) and Jaiprakash Power Ventures Ltd.(up 1.90%) were among the top gainers.

08.05 / 02:41

UPS Manufacturing Entertainment Enterprise reports recommendations Pharmaceuticals Stocks to Watch: Dr Reddy's, PB Fintech, L&T, Jaiprakash Associates, JSW Energy, IRB Infra

Dr Reddy’s Laboratories: The pharmaceutical company reported a net profit of ₹1,307 crore for Q4FY24, a 36% year-on-year increase, primarily driven by strong performance in the US market. The company's revenue increased to ₹7,083 crore during the quarter, a 12% year-on-year growth. For the full year FY24, DRL reported a net profit of ₹5,568.4 crore, a 36% increase, and total revenues of ₹27,920 crore, up 14% on year.

07.05 / 19:31

Citi Provident Enterprise WhatsApp country Incuspaze leases 350,000 sq ft in Gurugram

Flexible workspace provider Incuspaze has leased 350,000 sq ft in Gurugram's Udyog Vihar in one of the biggest office space transactions of 2024.

07.05 / 14:17

Digital Maxim CEO Enterprise reports International Atul Das moves on from Zee, Mangesh Kulkarni named business head

Mint. Last month, Zee's board of directors approved a new organizational framework suggested by Punit Goenka, the managing director and CEO. Under this new structure, Goenka will take direct oversight of the domestic broadcast business and aims to enhance synergies across core business segments including broadcast, digital, movies, and music.

07.05 / 14:17

Provident Enterprise Research President students Universities innovations Driving Innovation: The Role of Educational Institutions in Supporting Student Entrepreneurs - Parul University

India, 7th May 2024: Parul University continues its steadfast commitment to fostering entrepreneurship with the expansion and enhancement of its Parul Innovation and Entrepreneurship Research Centre (PIERC). Recognizing the vital role of entrepreneurship in driving economic growth and job creation, Parul University has established itself as a beacon of support for budding entrepreneurs in India. In a significant move in 2015, Parul University registered the Section 8 company, PIERC, further formalizing its commitment to nurturing entrepreneurship.

07.05 / 11:23

markets Enterprise Southern Nestle AGRO hospital Updates Stock market update: Fertilisers stocks down as market falls

Bohra Industries Ltd.(up 0.80%) stood among the top gainers.

07.05 / 02:23

markets Target security Enterprise Research Trade recommendations Stock market today: Trade setup for Nifty to Sensex, four stocks to buy or sell on Tuesday — May 7

Stock market today: Despite positive global market cues, the Indian stock market ended lower after a highly volatile session on Monday. The Nifty 50 index lost 33 points and finished at 22,442, while the BSE Sensex ended marginally higher at 73,895.

07.05 / 01:19

Provident Cooper CEO security Enterprise President Relationships Osaic seals deal for Lincoln’s wealth advisor business

Osaic is now officially an even larger force to be reckoned with.

06.05 / 16:35

Manufacturing Entertainment Enterprise community Trade Justice Courts New MSME payment clause in I-T Act: Supreme Court tells traders to move HC

Supreme Court on Monday refused to entertain a petition by traders’ associations, challenging the constitutionality of Section 43B(H) of the Income Tax Act that requires businesses to settle their dues with micro, small and medium enterprises (MSMEs) within 45 days to claim tax benefits. A bench led by Chief Justice DY Chandrachud instead asked the petitioners – Federation of All India Vyapar Mandal, Federation of Madras Merchants and Manufacturers Association, and Confederation of West Bengal Trade Associations – to move the high court for any relief. The new rule has come into force from April 1.

06.05 / 08:37

Entertainment security Enterprise WhatsApp trends Trade Zee Ent. shares fall 4.01% as Nifty drops

Zee Entertainment Enterprises Ltd. slipped 4.01 per cent to Rs 137.3 in Monday's trade. It hit a high of Rs 145.05 and low of Rs 137.1 during the session. On the technical charts, the 200-DMA of the stock stood at Rs 224.29, while the 50-DMA was at Rs 150.88. If a stock trades above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades below 50-DMA and 200-DMA, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

06.05 / 08:07

markets IPO Digital Booking Enterprise Experts band Indegene IPO: Issue booked 55% on Day 1, so far. NII portion fully subscribed; check GMP, subscription status, key dates

₹30 per equity share. The qualified institutional buyers (QIBs) portion is yet to be booked. At 12:51 IST, the Indegene IPO subscription status is 55%, as per BSE data.

06.05 / 03:15

UPS Booking CEO Enterprise stage reports recommendations Stocks to Watch: Kotak Mahindra Bank, DMart, Mahindra Finance, Britannia, Titan, Inox Wind

Kotak Mahindra Bank: The bank's PAT for FY24 increased by 26% YoY to ₹13,782 crore. The PAT for Q4FY24 was ₹4,133 crore, an 18% YoY increase. The bank's NII for FY24 increased by 21% YoY to ₹25,993 crore.

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