Enterprise Financial News

This significant achievement coincides with VSPAGY's milestone of five years in the industry, during which it has consistently elevated customer engagement and solidified its position as a groundbreaking Personalized Interactivity Platform trusted by over 75 leading enterprises across India. Launched by exchange4media, India’s largest publisher of online and print publications on advertising, media, and marketing, DigiOne are the only awards of its kind and reflect the tremendous growth of online media as a tool of business and everyday lives.

Vodafone Idea from 'underperform' to ‘neutral’ as the brokerage finds VIL offers the highest leverage for tariff hike (5% ARPU increase leads to 12% EPS increase). Moreover, the brokerage pointed out that the recent fundraise by the company is expected to enhance its 4G network coverage, which could mitigate market share declines and enhance competitiveness. Also Read: Prabhudas Lilladher advises long-term SIPs in Aditya Birla Group stocks However, despite these positive aspects, the brokerage refrains from recommending VIL as a buy.

The recent Lokniti pre-poll voter survey was played up in press reports for the wrong reasons. Voters’ party preferences got headlines, but pre-poll findings on party shares are always suspect because voters may not have finally chosen, or might not reveal their true choice even if they have. What the survey yielded of value was issues of concern to voters.

Aadhaar, UPI, and Fastag. A Nasscom report in February 2024 had stated that DPI could help India become an $8-trillion economy by 2030. The economic value added by DPI could increase to between 2.9% and 4.2% of GDP by 2030, from 0.9% in 2022, it said.

Zee Entertainment Enterprises Ltd. traded 0.47 per cent down in Thursday's trade at 12:27PM (IST). Around 442,818 shares changed hands on the counter. The stock opened at Rs 147.85 and touched an intraday high and low of Rs 148.5 and Rs 145.95, respectively, in the session so far. The stock of Zee Entertainment Enterprises Ltd. quoted a 52-week high of Rs 299.5 and a 52-week low of Rs 138.0.

Other notable companies' which are also due to release their earnings today include Coal India, Dabur India, Federal Bank, Digicontent, Blue Star, Ajantha Pharma, JBM Auto, Khemani Distributors, KPR Mills, Kretto Syscon, Ksolves India, Aptech among others.

restructuring of the group, announced late Tuesday, will result in two entities: Godrej Enterprises Group and Godrej Industries Group. While Godrej & Boyce Mfg. Co.

Godrej billionaire Rishad Kaikhushru Naoroji has decided to gift most of his shares in group companies to nephews and nieces, an executive aware of the development said, in a rare instance of corporate India's super-rich leaving his wealth to relatives. Naoroji, 72, is a third-generation member of the Godrej business family and a cousin of Adi, Nadir and Jamshyd Godrej, and Smita Godrej Crishna. Naoroji owns shares in four of the five listed Godrej companies—Godrej Agrovet, Godrej Consumer, Godrej Properties and Godrej Industries -totalling about ₹7,050 crore as on 1 May.

IRDAI) is most likely to give the go-ahead to IndusInd International Holdings Limited's acquisition of Reliance Capital's three insurance companies within a couple of weeks, said people aware of the development. The insurance regulator believes Reliance Capital is a major non-banking financial company going through bankruptcy proceedings, which need to be closed within the time frame prescribed by the court, they said. Last week, the committee of creditors had asked IndusInd International Holdings (IIHL) to conclude the process by the May 27 deadline. However, IIHL had informed lenders that without the IRDAI's approval, it would not be able to conclude the transaction. On February 27, the National Company Law Tribunal (NCLT) gave its nod to IIHL's resolution plan worth ₹9,650 crore for Reliance Capital, formerly under the control of Anil Ambani. The NCLT directed IIHL to close the deal within a 90-day period. In March, in a letter to the administrator, the IRDAI had expressed reservations regarding IIHL's takeover of Reliance Capital, particularly about IIHL's diverse shareholder structure, under which no single entity holds more than a 10% stake. The IRDAI requested in-depth information on IIHL's shareholders, including their identities, countries of incorporation, citizenship, equity percentages and details of major shareholder groups.

Godrej Group, which has both the listed and unlisted entities, decided to split the conglomerate and operate as two entities — Godrej Enterprises and Godrej Industries. The conglomerate operates across aerospace, aviation, defence and liquid engines among others. The realignment will be implemented after the relevant regulatory approvals have been obtained, after which the two companies will continue to use the Godrej brand.

The exodus toward independent channels continues, according to a new Cerulli Edge study. And not just from wirehouses.

Kogo AI is set to launch its large action model (LAM)-based platform Kogo OS this week, said chief executive Raj K Gopalakrishnan. It will be offered as platform-as-a-service for enterprises and small businesses looking to create artificial intelligence (AI) agents, he told ET.

NEW DELHI : The storied Godrej group that took birth as a lock-maker 127 years ago is finally dividing its assets, as its descendants choose to split the businesses to align with their differing visions for the future. The third-generation siblings, Adi and Nadir, children of Burjor, late on Tuesday reached an agreement to separate from their cousins Jamshyd and Smita, children of Naval, a family statement said. Godrej & Boyce Mfg.

Adi Godrej and his brother Nadir keeping Godrej Industries that has five listed firms, while cousins Jamshyd and Smita getting unlisted Godrej & Boyce and its affiliates as well as a land bank, including prime property in Mumbai. The group has been split between two branches of the founding family, with Adi Godrej (82) and his brother Nadir (73) on one side and their cousins Jamshyd Godrej (75) and Smita Godrej Crishna (74) on the other, according to a statement issued by the group. Godrej Enterprises Group — comprising Godrej & Boyce and its affiliates that have a presence across multiple industries spanning aerospace and aviation to defence, furniture and IT software — will be controlled by Jamshyd Godrej as chairperson and managing director. His sister Smita's daughter Nyrika Holkar, 42, will be the executive director.

Indiabulls Real Estate on Tuesday said it has acquired 100 per cent stake in Sky Forest Projects Pvt Ltd from Blackstone at an enterprise value of Rs 647 crore. In a regulatory filing, the company said its subsidiary Indiabulls Constructions has «completed the acquisition of 100 per cent stake, on a fully diluted basis, of Sky Forest Projects, which owns a residential project 'Sky Forest', situated in Lowel Parel, Mumbai, from certain entities controlled by funds managed by Blackstone Inc, for an enterprise value of approximately Rs 646.71 crore». The acquisition would help expand the company's presence in Mumbai and is expected to lead to synergies and add value for all the stakeholders. Indiabulls Real Estate Ltd (IBREL) has posted widening of consolidated net loss at Rs 1,038.65 crore for the last fiscal year. Its net loss stood at Rs 608.38 crore in 2022-23.

Adani Total Gas (ATG) jumped over 3% to hit the day's high of Rs 947.65 on the NSE on Tuesday while those of Adani Energy Solutions surged 2.5% to 1,087.30 ahead of their March quarter earnings due to be announced today. Adani Energy Solutions, which was previously known as Adani Transmission, had reported an 85% increase in its consolidated profit after tax (PAT) for the March 2023 quarter at Rs 440 crore supported by a one-time income of Rs 148 crore (net off tax Rs 122 crore) based on a regulatory order in the transmission business.

IvyCap Ventures, which backed startups such as BlueStone, Purplle and Biryani By Kilo, has announced the final close of its third fund at Rs 2,100 crores. Through this fund, the firm plans to invest in about 25 early-stage startups, with average starting investment amount ranging from Rs 30-50 crore. It has already deployed 40% of the capital from the third fund to startups such as Dhruva Space, Snitch, Celcius Logistics, GradRight, Eggoz and Flexifyme.

MUMBAI : Triveni Engineering & Industries Ltd (TEIL) may have to pay up more for acquiring a controlling stake in Sir Shadi Lal Enterprises (SSLE) than its current open offer, or exit its investment, as transaction at the current price remains unlikely, proxy advisory firm InGovern said in a report on Sunday. Triveni Engineering had made an open offer of ₹262.15 per share for acquiring a controlling stake in SSLE in January. However, the SSLE scrip, which closed at ₹156.8 on the BSE on the day the open offer was announced, has since nearly doubled to open at ₹292 on the BSE on Monday.

Apollo Hospitals Enterprise fell over 8 percent in intra-day trading today (April 29) after the firm announced that it will raise ₹2,475 crore (approximately $300 million) through private equity firm Advent International for its unit Apollo HealthCo. This unit manages Apollo's Apollo 24/7 vertical. Additionally, there are plans to merge Keimed, a promoter-owned wholesale pharma distribution business, with Apollo HealthCo over the next 24 to 30 months.

Zee Entertainment Enterprises Ltd. gained 2.39 per cent to Rs 149.45 in Monday's trade as of 10:15AM (IST). The stock hit a high price of Rs 151.2 and low of Rs 146.5 during the session. The return on equity (ROE) for the stock stood at 0.44 per cent. Traded volume on the counter stood at 10:15AM shares and turnover at Rs 12.3 crore around that time. The stock of Zee Entertainment Enterprises Ltd. quoted a 52-week high price of Rs 299.5 and 52-week low prices of Rs 138.0, respectively.

Maruti Suzuki India: The company reported a standalone net profit of ₹3,878 crore for the quarter ending March FY24. This represents a 47.8 percent increase from the same period last year, largely due to robust operational figures and increased other income. However, the overall results fell short of market predictions.