Enterprise Financial News

Mint explains why. Firms building AI models, large language models and generative AI applications should ensure their platforms don’t generate “unlawful content" that violates the IT Act of 2000. It asked firms to not “permit any bias or discrimination or threaten the integrity of the electoral process." It said “under testing/unreliable" models would need “explicit permission" of the Centre—and a ‘consent popup’ would be mandatory for such AI applications.

The benchmark equity indices Nifty 50 and Sensex ended Tuesday’s trading session in positive territory. The Nifty 50 closed 3.05 points higher to settle at 22,335.70 points. While S&P BSE Sensex closed 165.32 points higher to settle at 73,667.96 points. Nifty Bank pulled back 45.45 points or 0.10% to settle at 47,282.40.

Retail inflation, IIP data to come today: Here's what experts expect Nifty 50 opened at 22,334.45 against the previous close of 22,332.65 and touched its intraday high and low of 22,452.55 and 22,256 respectively, during the session. The index finally closed 3 points up at 22,335.70. The Sensex opened at 73,516.42 against the previous close of 73,502.64 and touched its intraday high and low of 74,004.16 and 73,342.12 respectively.

Also Read: Sebi chief flags risk of bubble in stock market Furthermore, apart from recent actions against non-banking financial companies (NBFCs), the Enforcement Directorate's ongoing investigation into whether proceeds from the Mahadev betting case were routed into the small-cap and SME segments of the market also added to Monday's market downturn. The market regulator, late last month, asked mutual fund houses to put in place a framework to safeguard the interest of investors who invested in small and mid-cap funds amid the froth building up in the segments.

air passenger market by 2030, after China and the US, as per the International Air Transport Association (IATA). The aviation market, estimated at $13.5 billion in 2024, is projected to reach $23.2 billion by 2029, implying a compounded annual growth rate (CAGR) of 11.4% during 2024-2029. No nation in the world is buying as many aeroplanes as India.

Bharti Airtel: The telecom major is anticipated to be the frontrunner in the forthcoming auction of eight spectrum bands, given that Reliance Jio has already made substantial acquisitions in the 2022 auctions and Vodafone Idea is currently grappling with financial constraints. The auction is scheduled to commence on May 20. Bharti Airtel is expected to renew its licenses for 42MHz of spectrum in the 1800MHz and 900MHz bands across six circles.

MUMBAI : British American Tobacco (BAT) Plc is preparing for its long-awaited stake sale in ITC Ltd in the next two weeks, two people aware of the matter said. The British multinational plans to sell 4% in the Indian company at ₹380-390 per share, a 5-8% discount to Monday’s closing price of ₹409, the people said on condition of anonymity. Around 499 million shares worth around ₹20,000 crore (over $2.4 billion) are expected to change hands, in the biggest block deal since 2021 when Bosch Ltd saw block deals of ₹29,000 crore for 19.98 million shares.

Religare Enterprises Ltd, ending its 12-year engagement with the Delhi-based financial services company, even as the management of Religare and the Burman family continue to battle it out for control of the company. IFC, the private finance arm of the World Bank, sold its 2.42% stake between 29 January and 2 February, according to a public markets disclosure made by Religare. Mint could not independently ascertain the buyer of the shares.

A new perk is being rolled out in Goldman Sachs' Shoe Lane London office. As of next Monday, staff buying lunches in the cafeteria will also be able to buy local vegetables to cook at home.

GE Aerospace on Monday said it has signed a flight operations software contract with Air India. «This strategic collaboration marks a significant milestone as Air India becomes the first enterprise in India to adopt GE's FlightPulse pilot app together with Safety and Fuel Insight for its entire group,» it said in a release.

RFG Advisory, an InvestmentNews Best Places to Work for Financial Advisors in the USA for 2024, has bolstered its executive leadership team.

Shadowfax, on Monday, announced the opening of its inaugural hub and distribution centre in Port Blair. The company calls it a significant milestone in its journey to reach 100% or almost 20,000 pincodes of India by March’2025. With the newly established hub in Port Blair, Shadowfax aims to foster inclusivity in its service network, ensuring every corner of the country receives seamless access to its array of offerings. E-commerce enterprises, Small and Medium-sized Enterprises (SMEs), Direct-to-Consumer (D2C) brands, marketplaces, and most importantly the island's residents can anticipate a comprehensive suite of services, spanning from Reverse Logistics to Express Delivery. Leveraging strategic partnerships with leading airline companies, Shadowfax plans to deliver speed and efficiency, including assured Next-Day Delivery to the island. It will also provide reverse shipping services, doorstep quality checks, and hand-to-hand exchanges. The island customers can also expect location-based delivery via Shadowfax’s proprietary product SF Maps – an AI driven mapping system.

Nirmal Bang Equities sees "further downside risk to earnings for the Indian IT services industry for both FY25 and FY26 as current revenue assumptions seem aggressive in the context of industry commentary, the timing of turnaround in growth, prospects of US interest rate trajectory and uncertainty around US economic policies consequent to the presidential elections." "We expect 4-7 per cent constant currency (CC) revenue growth guidance by both Infosys and HCL Tech. Even this may be at risk if the Fed funds rate is not cut materially or if enterprise customers freeze up due to US election uncertainty.

(Reuters) — Pilots at Qantas Airways units Network Aviation and QantasLink will conduct a fresh strike this week as they continue to demand for higher pay, the Australian Federation of Air Pilots said on Monday.

Adani Enterprises: Karan Adani, MD of Adani Ports and Special Economic Zone, announced on SUnday that the Adani Group is set to invest approximately ₹60,000 crore in the expansion of its seven existing airports over the coming 5-10 years. He said that about half of this investment will be directed towards enhancing terminal and runway capacity within the next five years. The remaining funds will be allocated for the city-side development of the airports over the subsequent decade.

investment decision. BASIC FACTS DATE OF LAUNCH 7 SEPTEMBER 2010 CATEGORY

National Asset Reconstruction Company of India (NARCL) has proposed to acquire the debt of Jaiprakash Associates from banks for ₹10,000 crore, making it the largest offer made so far by the government-backed asset reconstruction company (ARC) that started operations just over two years ago. If a majority of lenders sell their debt, ARC will acquire the cement, hospitality, real estate, fertiliser and construction businesses of Jaiprakash Associates Ltd (JAL) — a flagship company of the Manoj Gaur-promoted Jaypee Group, said people with knowledge of the matter. In fiscal 2023, NARCL acquired 62%, or ₹9,234 crore, of Jaypee Infratech's debt, offering lenders a 39% recovery following an uncontested Swiss challenge auction.

Microsoft says it is still trying to evict the elite Russian government hackers who broke into the email of senior company executives in November and have since been trying to breach customer networks with stolen access data

Himanta Biswa Sarma performed Bhumi Pujan ceremony of 50 MW Solar Project being developed in Sonitpur, Assam by SJVN Green Energy Limited (SGEL), a wholly owned subsidiary of SJVN. The 50 MW Solar Project is being developed in Sitalmari village, in Barsola Block under Dhekiajuli Revenue Sector in Sonitpur district. It will be built at an estimated cost of Rs. 291 crores. The project will generate 101 million units of green energy in the first year and the cumulative energy generation over a period of 25 years will be about 2,319 million units. The energy generated will be supplied to Assam Power Development Corporation Limited at Rs. 3.92 per unit. Chairperson & Managing Director, SJVN, Geeta Kapur informed that SJVN has set its footprint in Assam and that SJVN Green Energy Limited (SGEL), the renewable arm of SJVN, is developing three solar projects of capacity 200 MW, 70 MW and 50 MW, thus amounting to a total power capacity in the state of 320 MW. Among these, the foundation stone for the 70 MW Solar Project in Dhubri, Assam was laid by the Prime Minister Narendra Modi on March 4, 2024.

New Delhi: Sekura Energy, an energy sector-focused platform of Edelweiss Infrastructure Yield Plus Fund, is the front-runner to buy solar projects totalling 350 megawatts (MW) from O2 Power, two people aware of the development said. The deal is likely to have an equity and enterprise value of $50 million and $200 million, respectively, the people said. The sale process is being run by EY.

Startups in the country are “lost in the maze of existing regulations and controls that are applied to them sometimes even retrospectively”, Anand Mahindra, chairman Mahindra Group, said and called for increased ease of doing business for new enterprises. Delivering the 4th Annual Atal Bihari Vajpayee Memorial Lecture on ‘The role of industry in building a resilient and resurgent India’, Mahindra highlighted the importance of the government and industry working in a collaborative manner to achieve scale, innovation, and global reach.