Enterprise Financial News

Nifty Bank, which hit a fresh lifetime high above 49,000 last week, has given an average return of 5% during the March quarter earnings season 7 out of 10 times in the last 10 years, says Anand James, Chief Market Strategist, Geojit Financial Services. Edited excerpts from a chat with James on the market outlook in the near term

Vodafone Idea, which is currently heavily indebted, will also be kickstarting its ₹18,000 crore FPO next week. In the small and medium enterprise (SME) sector, Ramdevbaba Solvent and Grill Splendour Services are set to launch their IPOs for subscription. Alongside these new offerings, Dalal Street will witness the listing of Teerth Gopicon and DGC Cables and Wires.

Justride Enterprises declared their Q4 FY24 results on 11 Apr, 2024. The topline increased by 7821.03% & the profit decreased by 98.46% YoY.

DevX is looking to double its portfolio to over 2 million sq ft over the next two years with focus on tier-2 and -3 cities, as adaption of distributed workforce option by larger enterprises leads to a rise in demand, said a top company executive. The company currently has operational centres in key cities like Mumbai, Pune, Hyderabad, Noida, Raipur, Jaipur and Ahmedabad. Last week, it set up a new co-working centre spread over 25,000 sq ft with 300 seats in Udaipur. DevX is also working on plans for its foray into the international market, starting with Dubai and Singapore.

Bollywood directors, one observes a pattern in the sets and the costumes. You realise that there's a conflation of royal palaces and brothels. Queens, brides and prostitutes all look alike, dress alike, live in the same spaces, dance and sing for the pleasure of men. A celebrity wedding looks no different — same sets, same costumes, the same desire for glamour. This is what relationships should look like in social media discourse — instagrammable, with friends, girlfriends, wives, mistresses, ex-lovers, secret lovers and escorts. The look matters. The same look in almost all cases. The Kama Sutra draws attention to the tension between the monogamous housewife and the polygamous courtesan. The former has access to status, power, dignity and nobility while the latter has freedom, agency and enterprise. The two belong to very different worlds. This was part of Indian culture for over 2,000 years. This system was broken down brutally by the British with the support of nationalists, who saw the courtesan culture as a sign of corruption and debauchery. In this one aspect, the nationalists and the colonialists agreed.

₹208 to ₹286 by the end of FY 27. The brokerage expects Bharti Airtel's revenue to grow at twice the industry average in the next three years owing to hike in tarrifs, 2G upgradation, growth of enterprise and Fibre to Home network and fall in capital expenditure after 5G rollout.

HAL Share Price Today: Shares of public-sector undertaking (PSU) Hindustan Aeronautics Ltd or HAL rose more than three per cent to hit a lifetime record-high mark during intra-day on Friday, April 12. The surge in shares came as the Defence Ministry today issued a tender to the defence major for buying made-in-India 97 LCA Mark 1A fighter jets.

Future Group promoter Kishore Biyani has settled dues worth Rs 571 crore to lenders of Bansi Mall Management Company by making a one-time settlement of Rs 476 crore, a recovery of 83% for the creditors. The settlement was backed by realty developer K Raheja Corp., which acquired SOBO Central Mall. Earlier known as Crossroads, SOBO Central is the country’s first mall, having opened in late 1990s in south Mumbai's Haji Ali locality. The recovery from Future Group is a rare success story for banks who had suffered loan write-offs and losses in several cases previously.

Arax has just taken a massive step to expand its wealth management capabilities with a deal in Texas. The wealth firm announced the incorporation of U.S. Capital Wealth Advisors, a step that elevates Arax’s assets under management to more than $16 billion.

The Biden administration has approved construction of a deepwater oil export terminal off the Texas coast that would be the largest of its kind in the United States

Bengaluru | Mumbai: Piramal Group's flagship company Piramal Enterprises has invested over Rs 500 crore in a portfolio of projects of Bengaluru-based real estate developer Puravankara Group, said three persons with direct knowledge of the development. The investment encompasses a range of projects, spanning from commercial properties to residential ventures, reflecting a strategic collaboration aimed at bolstering real estate endeavours across multiple regions in India. «The Piramal Group entity has made this investment through a senior secured financing structure and it currently covers a total of four projects of the developer,» said one of the persons mentioned above. Key projects of this investment include the development of commercial properties spread over 800,000 sq ft along Kanakapura Road, a bustling locality in Bengaluru known for its rapid urbanization and commercial growth. This move aligns with the trend of commercial expansion in Bengaluru, fuelled by its status as a IT hub and a thriving business ecosystem.

US Congressman Adam Schiff has tabled a bill proposing tech firms training AI models disclose use of any copyrighted data. It follows criticism from artists and creators on unfair use of their work by tech firms raking in billions. Can this stifle innovation? Mint explains.

₹1,505, implying an over 22 percent upside from its CMP of ₹1,229.30, as of April 10. The stock has already delivered almost 59 percent returns in the last one year and gained over 19 percent in 2024 YTD, giving positive returns in 3 of the 4 months of the current calendar year so far. Airtel shares have been flat but in the green in April so far after a 9.4 percent jump in March.

China has accused the European Union of protectionism and “reckless distortion” of the definition of subsidies in response to a new EU investigation into Chinese wind turbine makers

EPFO) to at least ₹21,000 from ₹15,000 now to widen the social security coverage, a step towards achieving universal social security. The proposal, which has been on the backburner for several years now, is being re-looked at. «We are evaluating all options and a decision in this regard could be taken by the new government,» the official said. The government is of the view that strong balance sheet of India Inc will help cushion the extra financial burden that enterprises will incur due to enhanced wage ceiling, a senior government official told ET.

Coimbatore, where BJP has fielded its Tamil Nadu chief, DMK has taken the seat back from ally CPIM to put its own candidate and AIADMK has its IT wing head in the fray. CPIM's PR Natarajan, backed by DMK, had won the Lok Sabha seat in 2019 with a vote share of 45.66%, with BJP's CP Radhakrishnan coming in second, getting 31.34% of the votes polled. In this election, DMK has fielded Ganapathy P Rajkumar, a former Coimbatore mayor who joined the party in 2020 after leaving AIADMK, going against its decade-long seat-sharing agreement with CPM for the seat, possibly anticipating a tough fight owing to BJP candidate Annamalai's growing popularity. AIADMK candidate is Singai Ramachandran. Annamalai is predicting BJP to win the seat with 60% votes. Coimbatore, comprising the assembly segments of Coimbatore South, Coimbatore North, Kavundampalayam, Singanallur, Sulur and Palladam, is one of the constituencies in the South where BJP is putting a lot of focus, making its rival parties also to be on high alert. The constituency has seen repeated visits by high-profile leaders to back their candidates. Prime Minister Narendra Modi visited Coimbatore again on Wednesday. TN chief minister MK Stalin and Congress leader Rahul Gandhi will hold a joint rally of the INDIA bloc in the city on Friday in support of Rajkumar.

Boeing has flown into rough weather again. CEO Dave Calhoun — brought in to revive the aerospace and defence giant in January 2020 from the tailspin of the two 737 Max 8 aircraft crashes in 2018 and 2019 — announced his planned December exit last month. The many pun-laced stories regarding the turbulence enveloping Boeing shouldn't distract from the bleak point that this is just another instance of a giant corporation betraying the trust of the public — and that, sadly, this won't be the last. As the findings of many investigations and committees conclude — even as the company faces fresh safety scrutiny after a Boeing engineer emerged this week alleging 'major flaws' in 777 and 787 Dreamliners — Boeing may have gotten away with shoddy design of the Max 8. The design was cleared by the Federal Aviation Administration (FAA), as per aircraft certification guidelines applicable at the time. This means no one did anything wrong intentionally. Lack of any criminal convictions thus far also appears to support this conclusion. Reduced oversight creates a swamp wherein the shady thrive, and even the scrupulous can lose their sense of ethics. Without oversight, even Atlas could be tempted to shrug and drop the heavens he bears on his shoulders.

Mint, Sinha said the company is shifting its focus to round-the-clock (RTC) renewable energy projects, and highlighted its preference for battery energy storage systems due to their shorter setup times for grid-scale implementation. ReNew has a joint venture with US-based Fluence to offer energy storage solutions in India.

Shares of Phoenix Mills Ltd.(up 4.13 per cent), Sobha Ltd.(up 2.73 per cent), Macrotech Developers Ltd.(up 2.26 per cent), Swan Energy Ltd.(up 0.19 per cent) and Brigade Enterprises Ltd.(up 0.18 per cent) ended the day as top gainers in the pack.

Tech Mahindra on Wednesday said it has partnered with Microsoft to create a user-friendly unified workbench on Microsoft Fabric, an analytics platform for businesses and data professionals. The workbench system will help organisations accelerate the adoption of Microsoft Fabric and enable them to create complex data workflows with a simple to use interface, said Tech Mahindra in a statement. This collaboration will combine the best of Tech Mahindra's Intellectual Properties with Microsoft Fabric capabilities, to help customers fast-track their data-to-insight journey and improve business agility, according to the statement.

New Delhi: The Ministry of Road Transport and Highways, in the first 100 of the formation of the next government, could unveil a mega plan for building 50,000 km of new, access-controlled, expressways by 2037 to help reduce logistic costs. The programme is expected to replace the Bharatmala scheme and will sync all future road projects with the government’s Vision 2047 for the sector. Besides, the government is considering satellite- or GPS-based tolling on select stretches by replacing FASTags to do away with wait time at toll plazas, and rolling out a cashless treatment facility for all road accident victims. The first 100 days of the new government will see the ministry laying down short-, medium- and long-term targets across the identified areas as part of the comprehensive development of India’s road transport sector, a senior government official told ET.