Enterprise Financial News

Adani Enterprises and private data centre operator EdgeConneX, said on Sunday it has secured financing from lenders of up to $1.44 billion to build data centres. Meanwhile, Tesla Inc. Chief Executive Officer Elon Musk made a surprise visit to China on Sunday to meet Premier Li Qiang.

₹3,000 crore to acquire a business park in Chennai with an enterprise value of ₹1,269 crore on Monday. The grounds for opposition are that the proposed fund raise will be higher than the acquisition cost and on concerns that units could be issued below the REIT's net asset value and market price, according to a person aware of the matter.

Mint, Deloitte said that given the implementation of the Global Anti-Base Erosion (GloBE) rules in these countries from 1 January, Indian headquartered multinational business groups with a presence there will be required to comply with the GloBE rules even if New Delhi is yet to implement it. Accordingly, Indian multinational groups will have to provide for top-up tax, if applicable, in their financial statements for the year ended 31 March 2024, Deloitte said in its analysis.

₹1,456 crore, the company's latest filings sourced from Tofler showed. To sustain growth, VerSe has also been innovating. It introduced Xpresso, an artificial intelligence-driven newsfeed in local languages, tailored for younger audiences.

startup The ePlane Company expects to develop a certifiable prototype of a flying electric taxi by March next year as it works on ways to alleviate urban congestion. Incubated out of the Indian Institute of Technology (IIT), Madras, the company also aims to initially commercialise its drones that can carry a payload of 2-6 kilograms in the coming months, according to a senior executive. The ePlane Company's Founder and CEO Satya Chakravarthy said it is developing an eVTOL (electric Vertical Takeoff and Landing) aircraft and to begin with, it will be a three or four-seater plane which can be converted into an air ambulance.

earnings underway, as many as 211 companies will announce their quarterly results this week with some major names in the mix. Investors will be particularly watching out for some major earnings of Kotak Mahindra Bank, DMart, Ultratech Cement, Indian Oil, Adani Energy, Adani Power, Ambuja Cements, Adani Wilmar, Adani Enterprises, Coal India, Titan among others. Here's what's on the earnings calendar this week

₹1,000 crore in the fiscal year 2024-25. This decision comes alongside the brand's expansion into international markets and the exploration of new product categories, Varun Gupta, one of its co-founders, told news agency PTI in an interview. Gupta further revealed the details about his vision to make the Indian company global, listing out the homegrown brand, and his ambitious targets for this fiscal year.

Adani Enterprises, Tata Chemicals, Dabur India, Titan, Ultratech, Indian Oil Corporation and others. Also read: Tesla CEO Elon Musk's unannounced Beijing visit targets FSD approval, international data collaboration The forthcoming announcements are anticipated to encompass a wide array of industries, providing insights into the broader economic landscape.

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rebounded after two weeks of profit-taking and gained over a per cent. The week kicked off on an upbeat note, buoyed by positive cues from the global markets. However, volatility ensued as the week progressed, with the markets grappling with uncertainties surrounding mixed earnings.

IREDA share price: Shares of Indian Renewable Energy Development Agency (IREDA) Ltd will be in focus on Monday when the Indian stock market reopens after the weekend close. The reason for this PSU stock to remain on focus is the latest 'Navratna status' being accorded to the state-owned company by the Government of India (GoI). The PSU company informed on Friday after the market close that the Department of Public Enterprises (DPE) has accorded 'Navratna status' to the company vide a letter dated 26th April 2024.

industry body representing micro, small and medium enterprises has pitched for a dedicated commercial bank to ease credit flow to the sector. It has also recommended introduction of a law to address the issue of delayed payments faced by such units. The Federation of Indian Micro and Small & Medium Enterprises (FISME), which represents about two million MSMEs in the country, has in a submission to the government also suggested setting up an equity guarantee fund trust to cover the risks related to equity financing for the sector.

Ponni Sugars(Erode)Ltd.(up 1.80%), Vishwaraj Sugar Industries Ltd.(up 1.54%), Dhampur Sugar Mills Ltd.(up 0.97%), Balrampur Chini Mills Ltd.(up 0.71%), Triveni Engineering & Industries Ltd.(up 0.67%), Ugar Sugar Works Ltd.(up 0.63%), Rajshree Sugars & Chemicals Ltd.(up 0.31%) and EID Parry(India)Ltd.(up 0.28%) stood among the top gainers.

Apollo Hospitals Enterprise Ltd, Fortis Healthcare , Max Healthcare Institute share prices have seen 42-84% gains during last year. The gains have been led by improved earnings outlook in the back of rising occupancy, increasing inpatient procedures, return of medical tourism and other such reasons have led to improvement in Average revenues pr operating bed (ARPOB). Apollo Hospitals Enterprise Ltd, Fortis Healthcare , Max Healthcare share prices also have benefit from rising capacities as expansions continue being carried out by them.

Mphasis reported a 2.9% dip in net profit at Rs 393.22 crore as against Rs 405.31 crore in the year ago quarter. On a sequential basis, profit increased by 5.2% from Rs 373.6 crore in the previous quarter ending December 2023. Revenue from operations during the quarter declined 1.5% to Rs 3,412 crore as compared to Rs 3,361 crore in the year ago quarter. Sequentially, the revenues fell 2.2% from Rs 3,337.9 crore in December quarter.

The NSE Nifty index was trading 20.35 points down at 22550.0, while BSE Sensex was down 100.28 points at 74239.16 at the time of writing this report.

Players who stayed loyal to the PGA Tour amid lucrative recruitment by Saudi-funded LIV Golf are starting to find out how much that loyalty could be worth. The PGA Tour on Wednesday began contacting the 193 players eligible for the USD 930 million from a "Player Equity Program" under the new PGA Tour Enterprises. The bulk of that money — USD 750 million — went to 36 players based on their career performance, the last five years and how they fared in a recent program that measured their star power. How much they received was not immediately known. Emails were going out Wednesday afternoon and Thursday informing players of what they would get. One person who saw a list of how the equity shares were doled out said the names had been redacted. The person spoke to The Associated Press on condition of anonymity because many details of the program were not made public.

Amazon’s cloud computing unit Amazon Web Services plans to invest $11 billion to build a data center in northern Indiana that will create at least 1,000 new jobs

Brigade Group to develop a 300-room InterContinental brand hotel in Telangana. The hotel, named InterContinental Hyderabad Neopolis, will bring together IHG's global expertise in hospitality management and Brigade Group's expertise in real estate development to create a world-class hotel that meets the needs of discerning travellers. The proposed property is first InterContinental property in Kokapet, Hyderabad and will be a part of Brigade's mixed-use development project, expected to be operational by 2029.

REC Ltd has signed an agreement with Chenab Valley Power Project Private Limited (CVPPPL) to provide it with a financial assistance of ₹1,869.26 crore as a term loan. The power ministry said the loan will be utilized for development, construction and operation of the greenfield 4 x156 MW Kiru Hydro Electric Project on River Chenab, in Kishtwar district of Jammu & Kashmir.

Embassy Office Parks REIT, India’s first listed REIT and the most prominent office REIT in Asia by area, has leased 8.1 msf of office space in FY24, surpassing the full-year guidance by 35%. Global Capability Centres (GCCs) account for over 65% of the annual leasing activity. Leading multinationals; achieved occupancy guidance of 85% at year-end. While Bengaluru occupancy is at 91% and Mumbai at 99%. Both markets represent ~86% of total assets by value. The firm has set an initial guidance of 6 msf for the last fiscal. Embassy Reit has set guidance for FY2025 with 5.4 msf of total leasing.