Enterprise Financial News

₹6,013 crore in FY24 led by better demand for its housing projects. The company’s presales in the fourth quarter of FY24 were ₹2,243 crore, the highest ever for a quarter. It registered real estate sales volumes of 7.55 million square feet in FY24 and 2.72 million square feet in Q4FY24.

₹64.3 crore while in 2021 it was over ₹1,000 crore. Recovery of such fines has only been 0.4% over the past five years. The current framework for fine imposition and recovery must be made more enforcement-oriented.

ZEE Entertainment Enterprises Limited (ZEEL) has withdrawn its application from the National Company Law Tribunal (NCLT) that sought directions to Sony Group Corp-owned Culver Max Entertainment and Bangla Entertainment to implement the composite scheme of arrangement between the three companies. In an official statement issued late on Monday evening, the company said it has withdrawn the implementation application based on the advice received by the board after a detailed consultation with legal experts. Sony and Zee had signed definitive agreements on December 21, 2021 to merge their businesses. ZEEL had filed the application on January 24 after Culver Max and Bangla Entertainment---both India units of Sony Group--terminated the merger agreement on January 22 over an alleged breach of the merger cooperation agreement (MCA), putting an end to the multi-billion-dollar merger deal that had been in the making for more than two years.

EQT. That in turn is translating to unprecedented deal volumes. “It's one of the most active deal pipelines we've ever had here,” said Jean Salata, Chairperson EQT Asia. “We're looking at deals worth $5 billion that could close before the end of this calendar year. It's really, it's really ramped up. A single deal we are looking at is $2. 5 billion, and there's several others that are sort of in the $1 billion range.” India has been the single largest geography for the firm’s Asian investment programme by far, representing about 40% of the total portfolio, Salata said. It’s also the strongest performing geography.

Gibraltar, GI, April 16th, 2024 – Aurora Labs announces the launch of the Forwarder, a new platform that connects centralized exchanges (CEXs) such as Binance, Coinbase, Bitfinex, KuCoin and more,  to the Aurora Mainnet and other virtual blockchains. This development tackles the key issue of network fragmentation, which has historically limited the movement of assets across the blockchain ecosystem.

Lexus Granito(India)Ltd.(up 5.34%), MOIL Ltd.(up 2.95%), KIOCL Ltd.(up 1.57%) and Coal India Ltd.(up 0.49%) stood among the top gainers.

Kothari Sugars & Chemicals Ltd.(up 2.44%), Mawana Sugars Ltd.(up 2.07%), Simbhaoli Sugars Ltd.(up 1.83%), Bannari Amman Sugars Ltd.(up 1.77%), Balrampur Chini Mills Ltd.(up 1.65%), Rana Sugars Ltd.(up 1.37%), Sakthi Sugars Ltd.(up 1.36%), DCM Shriram Industries Ltd.(up 1.33%), Triveni Engineering & Industries Ltd.(up 0.84%) and KM Sugar Mills Ltd.(up 0.68%) stood among the top gainers.

Indian stock market today: After Hindenburg Research raised concern over the debt positioning in Adani Group shares, Ahmedabad-based Indian conglomerate Gautam Adani had a big relief in January 2024 when the Supreme Court of India delivered its ruling that the Indian business house doesn't need any further investigation. It seems this Supreme Court ruling at the beginning of Q4FY24 worked in favour of the Adani group shares as FIIs raised stakes in six Adani group companies. Those six Adani group companies are Adani Enterprises, Adani Ports, AdaniPower, Adani Green Energy, Adani Wilmar, and Adani Total Gas.

Vodafone Idea is set to launch its FPO to raise ₹18,000 crore and anchor investors bidding opens today, April 16. Vodafone Idea FPO is slated to be India’s biggest FPO, if successful, after Yes Bank’s ₹15,000 crore FPO in July 2020. The ₹20,000 crore worth Adani Enterprises FPO in 2023 was cancelled after being fully subscribed.

Swan Energy Ltd.(up 1.67 per cent), Brigade Enterprises Ltd.(up 0.85 per cent), Phoenix Mills Ltd.(up 0.79 per cent), Sobha Ltd.(up 0.55 per cent) and Oberoi Realty Ltd.(up 0.03 per cent) were among the top gainers.

Baidu said on Tuesday its artificial intelligence chatbot “Ernie Bot” has garnered more than 200 million users as it seeks to remain China’s most popular ChatGPT-like chatbot amid increasingly fierce competition. Robin Li, CEO of the Chinese internet company, revealed the new milestone at a conference in Shenzhen on Tuesday. The chatbot was released to the public eight months ago.

RIL, Jio Financial, JSW Infra, Cipla, Gujarat Gas among others will be in focus due to various news developments. Crisil, SG Mart, Den Networks Shares of Crisil, SG Mart, and Den Networks will be in focus as the companies will announce their fourth quarter results on Tuesday.

ProcMart, an online business-to-business (B2B) marketplace specialising in supply chain solutions, has raised $30 million (about Rs 250 crore) in an equity funding round led by Infosys cofounder Nandan Nilekani’s venture fund Fundamentum Partnership and Edelweiss Discovery Fund. The round also saw participation from South Korea’s Paramark Ventures. The funds will be used for exploring strategic acquisitions for backward integration, enhancing client offerings, investing in talent acquisition and technology, and expanding presence in new markets within India and globally.

EoDB) at a time when the sector is poised for growth with increasing adoption of cloud and artificial intelligence. The industry currently has to rely on leasing bandwidth for these purposes from licensed telecom service providers at a significant cost. While the government has been apprised of the issue, things have been moving at a snail’s pace, executives said.

The NSE Nifty index was trading 156.16 points down at 22363.25, while BSE Sensex was down 531.3 points at 73713.6 at the time of writing this report.

The NSE Nifty index traded 148.21 points down at 22371.2, while BSE Sensex was down 529.59 points at 73715.31 as of 11:20AM(IST)on April 15.

Transformers & Rectifiers(India)Ltd.(up 4.81%), PTC India Ltd.(up 1.76%), CESC Ltd.(up 1.25%), Power and Instrumentation(Gujarat)Ltd.(up 0.77%), Adani Power Ltd.(up 0.69%), Inox Wind Energy Ltd.(up 0.51%), Karma Energy Ltd.(up 0.46%) and NTPC Ltd.(up 0.34%) were among the top gainers.

Bannari Amman Sugars Ltd.(up 0.80%) were among the top gainers.

were among the top gainers.

Nippon India Small Cap Fund BASIC FACTS DATE OF LAUNCH 16 SEPT 2010

Indian stock market today: A total of 9 stocks have been banned for trade on Monday, April 15, 2024, under the futures and options (F&O) segment by the National Stock Exchange (NSE). The securities have been put on ban under the F&O segment as they crossed 95% of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.