Enterprise Financial News

government's dividend mopup from non-financial central public sector enterprises (CPSEs) and entities in which it holds minority stakes has touched a record ₹61,149 crore, 22% higher than the revised estimate for 2023-24, with almost a fortnight to go this fiscal, according to the latest finance ministry data. Dividend receipts in the first half of March alone totalled nearly ₹10,000 crore. The revised estimate in the interim budget last month estimated the dividend collection for 2023-24 at ₹50,000 crore, higher than initial target of ₹43,000 crore. «The dividend collection has surpassed all expectations this fiscal. CPSEs across sectors have been performing well, and the strong dividend flow is the clearest sign of that,» said an official, who did not wish to be identified. «Also, global crude oil prices didn't quite surge as was feared after the Israel-Hamas war in October last year. So, the profitability of oil companies didn't quite take a beating, which augurs well for dividend flow. Power sector companies, too, have been doing well.»

₹11.1 trillion for FY25 in the interim budget in February. Virmani said expectations of growth beating estimates this year was really the capital expenditure multiplier of the budget working through the system, which will continue over the years and get better. Building infrastructure is helping not just the GDP growth, but has also added more employment for construction workers, he said.

Indian stock market today: A total of 11 stocks have been banned for trade on Monday, March 18, 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 it crossed 95 per cent of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.

ET Awards for Corporate Excellence came an unusual address. “My keynote today is to unlock your conscience,” said Mrs Meera Jain, founder of Evoke. Mentioning startling numbers — “1,50,000 animals perish each minute” — she outlined the Sixth Extinction, a manifestation of the Anthropocene, the era of human impacts reshaping Earth. “Humanity has wiped out 60% of the world’s wildlife since 1970,” she stated, adding ironically, “That’s thanks to Alfred Nobel’s gunpowder. So much for the Nobel Prize” However, humans can stop this apocalypse. She mentioned praiseworthy initiatives from the world of enterprise seeking to help nonhuman species. She described a visit to Vantara, the animal rescue and rehabilitation centre established by Anant Ambani. Vantara provides world-class care to species rescued from poachers, wildlife traffickers and circuses globally. Its devotion to endang e r e d a n i m a l s shows humanity at its best, she remarked. She lauded Ratan Tata’s hospital for dogs and small animals i n Mu mb a i and urged directors of Tata companies to devote more CSR funds to animal welfare.

Piramal Group, Piramal Realty, on Sunday inaugurated the Radha Govindadeva Mandir of the International Society for Krishna Consciousness (ISKCON) in Thane. The temple complex, spread over approximately 4,000 sq. ft., is situated within the Piramal Vaikunth residential complex in the city. The temple in Piramal Vaikunth, Thane, is the first ISKCON temple inside a gated community in Maharashtra, the company said in a press release.

Mint takes a look at what the expert committee has recommended and how it impacts the tech industry. Given the pace at which digital enterprises move, it was felt that affected parties would suffer irreparable damage by the time ex-post measures were ordered to remedy uncompetitive practices. The Competition Act’s ex-post measures involve several stages such as forming a prima facie view by the Competition Commission of India (CCI), an investigation by the director general, and passing of the final order, all of which are time-consuming.

As the pressure for financial service companies to increase their digital capabilities continues to rise, leaders are pulling further ahead of the pack on multiple fronts, according to new research from Broadridge.

Zee Entertainment Enterprises Ltd on Friday said its president and group chief technology officer Nitin Mittal has quit the company after a three-year stint. This announcement comes amid strategic changes in the technology and data vertical, implemented by managing director and CEO Punit Goenka.

Intelliswift Software Inc., a renowned global leader in IT services, is pleased to announce a significant leadership transition aimed at fostering continued growth and innovation. Specializing in delivering Digital Product Engineering, Data Management & Analytics, AI, Cloud, Digital Enterprise, and MSP/VMS staffing solutions, the company is poised for an exciting phase of growth. With immediate effect, Surej KP assumes the pivotal role of Chief Executive Officer (CEO), bringing a wealth of experience and visionary approach to steer the company into its next phase of success, emphasizing a robust growth trajectory.

Gujarat State Fertilizer & Chemicals Ltd.(up 5.92%), Sikko Industries Ltd.(up 4.95%), Nagarjuna Fertilizers and Chemicals Ltd.(up 4.60%), Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 3.79%), Gujarat Narmada Valley Fertilizers & Chemicals Ltd.(up 1.92%), Rashtriya Chemicals & Fertilizers Ltd.(up 1.30%) and Madras Fertilizers Ltd.(up 0.55%) stood among the top gainers.

KCP Sugar & Industries Corporation Ltd.(up 5.45%), KM Sugar Mills Ltd.(up 2.64%), Uttam Sugar Mills Ltd.(up 1.91%), Shree Renuka Sugars Ltd.(up 1.57%), Balrampur Chini Mills Ltd.(up 0.90%), EID Parry(India)Ltd.(up 0.74%), Triveni Engineering & Industries Ltd.(up 0.48%), Vishwaraj Sugar Industries Ltd.(up 0.32%), Dwarikesh Sugar Industries Ltd.(up 0.32%) and Ugar Sugar Works Ltd.(up 0.08%) stood among the top gainers.

Gillette India Ltd.(up 2.20%), Heritage Foods Ltd.(up 1.71%), Colgate-Palmolive(India)Ltd.(up 1.54%), Mrs. Bectors Food Specialities Ltd.(up 1.44%), Sheetal Cool Products Ltd.(up 1.22%), Varun Beverages Ltd.(up 1.17%), Tata Consumer Products Ltd.(up 1.16%), Vadilal Industries Ltd.(up 1.08%), Procter & Gamble Hygiene & Healthcare Ltd.(up 0.82%) and ADF Foods Ltd.(up 0.80%) stood among the top gainers.

On the BSE, Davangere Sugar(down 11.74 per cent), Leading Leasing Fin(down 10.00 per cent), KG Denim(down 10.00 per cent), Natura Hue Chem(down 9.88 per cent) and Provestment Svcs(down 9.87 per cent) stood among the top losers in today's trade.

It's one thing for financial sector regulators to promote prudence by flagging signs of excessive speculation in any area of the securities market; it's quite another to label a class of shares as inherently risky. A class of shares includes various individual companies, some of which might become the next Infosys, Kotak Mahindra Bank, or ITC.

RailTel Corporation of India shares surged an additional 8.7% during today's intraday trade, reaching ₹368.55 apiece. This increase followed the company's reception of a work order from Odisha Computer Application Centre (“OCAC") to establish an IP-MPLS network connectivity in Odisha under OdishaNet Phase 1.0, as disclosed in the company's regulatory filing.

Power and Instrumentation(Gujarat)Ltd.(up 3.57%), Jyoti Structures Ltd.(up 1.88%), India Power Corporation Ltd.(up 1.55%), Voltamp Transformers Ltd.(up 0.86%), Adani Green Energy Ltd.(up 0.74%), Inox Wind Ltd.(up 0.61%), Indo Tech Transformers Ltd.(up 0.48%) and JSW Energy Ltd.(up 0.43%) were among the top gainers.

Paytm: On the eve of the March 15 deadline for Paytm Payments Bank to cease operations, Paytm secured a third-party application provider license from the National Payments Corporation of India on Thursday. This license will offer an alternative payment method to Paytm's customers via its app, following the shutdown of its banking division, Paytm Payments Bank, due to regulatory non-compliance. In related news, there are reports suggesting a potential 20% reduction in team sizes at Paytm.

electoral bonds for contributions to political parties. This came after the Supreme Court of India directed the State Bank of India to complete its submission of data on March 12. Now, with the lists revealed, leading the list of donors is a rather unknown company called Future Gaming and Hotel Services, helmed by "Lottery King" Santiago Martin.

earlier submitted the data to the ECI. Let’s take a look at 10 key takeaways. 1.

Indian stock market today: A total of 9 stocks have been banned for trade on Friday, March 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 it crossed 95 per cent of the market-wide position limit (MWPL), according to the NSE. However, the stocks will be available for trading in the cash market.

Advisors affiliated with Cetera now have more clarity on how to deal with bitcoin ETFs. The independent broker-dealer has launched a groundbreaking initiative to integrate bitcoin ETFs into its suite of offerings for financial professionals.