Enterprise Financial News

NEW DELHI : Indian telecom companies are lobbying the government to get large internet and streaming platforms to pay up for using their infrastructure, taking cues from international markets where such arrangements are beginning to take shape. A leading telecom industry body has written to the finance ministry claiming that the government was forgoing about ₹800 crore in potential annual revenue from licence fees and other levies from telcos if such an arrangement was in place. “All we’re saying is that please recognize that this payment has to be made, that the government recognizes that this requirement is there, and make both parties sit at the table and negotiate with each other," said S.P.

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Koura Fine Diamond Jewelry IPO: The initial public offer of small- and medium-sized enterprise (SME) Koura Fine Diamond Jewelry Limited received strong response from investors on the first day of subscription. Koura Fine Diamond Jewelry IPO opens for subscription on March 6, 2024 and closes on March 11, 2024. Koura Fine Diamond Jewelry IPO received positive response from both retail investors and non-institutional investors (NII) as both portions were fully subscribed on the first day.

NEW DELHI : The Directorate General of Civil Aviation (DGCA) on Wednesday granted air operator’s certificate to Goa-based Just Udo Aviation Pvt Ltd to operate its airline Fly91. The grant of the air operator certificate marks the completion of all regulatory and compliance requirements for the airline to begin its commercial operations, the airline said in a statement. "We now look forward to commencing the sale of tickets leading to the start of commercial operations soon," managing director and chief executive officer of Fly91, Manoj Chacko said.

Shares of Mahindra Lifespace Developers Ltd.(up 0.8 per cent) and Prestige Estates Projects Ltd.(up 0.07 per cent) ended the day as top gainers in the pack.

Avadh Sugar & Energy Ltd.(up 0.62%) and Ponni Sugars(Erode)Ltd.(up 0.46%) stood among the top gainers.

The name ‘Secretariat’ may not ring a bell with most people, but racetrack regulars swear by it. Secretariat was an American thoroughbred who is widely considered the greatest racehorse of the 20th century. The sly steed had a signature move.

jobs with an investment of ₹1,520.69 crore in companies boasting a turnover of ₹5 crore, India Today reported. Also Read | Credit Card Fraud: American Express blames third-party vendor for data breach, says report It added that despite a reported investment of ₹1,520.69 crore by the state government, the outcome yielded less than 6,000 new jobs in Kerala during the specified period.

Bloomberg on Wednesday moved the Delhi High Court challenging the trial court's order directing it take down an article on Zee Entertainment claiming that SEBI has found accounting irregularities of nearly US $240 million at the company. The High Court allowed the urgent listing of the matter for March 7, 2024. On March 1, 2024, a city court directed Bloomberg Television Production Services India Pvt. Ltd. (Bloomberg) to remove a news article published against media major ZEE Entertainment Enterprises Ltd (ZEEL) from its online platform.

Cashfree Payments, on Wednesday, launched a platform centric payment solution‘Embedded Payments’. This solution equips software platforms with the tools to facilitate seamless payment experiences for businesses. The solution aims to revolutionise the way software platforms like enterprise resource planning (ERPs), customer relationship management (CRMs), SaaS or billing platforms and similar solutions, provide payment experience to their end users. Currently, software platform developers struggle with integrating payments into the tools they build for online businesses due to complexities, poor user experience, operational overhead and limited knowledge of compliance. As a result, online businesses or merchants separately integrate payment systems themselves. With the integration of ‘Embedded Payments’, software platforms can enable their end users to make payments for products or services directly on the platform, eliminating the need for redirection to another page or site for the payment process. This will eliminate any disruptions and drop-offs caused due to external payment redirections.

Zee Entertainment Enterprises is under the F&O trade ban on Wednesday. For Zee, MWPL stood at 92.3% on Tuesday with OI reported by Trendlyne at 122.6 million. It was down 1.2% from the previous session. The stock had entered the ban on Saturday as stock exchanges BSE and NSE had decided to keep the market open despite the weekend holiday as part of its strategy to assess the system's preparation in the event of an unanticipated tragedy.

NEW DELHI : Canadian pension fund CDPQ is in exclusive negotiations to acquire five operational road projects from Ashoka Concessions Ltd, a subsidiary of infrastructure company Ashoka Buildcon. The deal has potential equity and enterprise values of around $325 million and $700 million, respectively, two people aware of the talks said. On 12 December, The Economic Times reported that CDPQ (Caisse de dépôt et placement du Québec) and private-equity firm Actis Llp were in final discussions to acquire the BOT toll road assets of Ashoka Concessions.

The Indian SaaS market is also expected to touch $37 billion in market size by 2028, from $12 billion presently, the analysis showed.

Tata Consultancy Services and Infosys are rolling out programmes to hire junior and mid-level talent with a focus on specific technology skills. Industry experts see this as an effort to get a lead with good talent ahead of their peers.

In 1919, Max Weber delivered a lecture titled “Politics as a Vocation," in which he argued for the first time that the state has a monopoly over the use of physical force. He was looking for a way to justify the state’s use of force and chose to do so by elevating it to the level of a crucial feature of the social contract. In those days, authority was manifest through tangible expressions of control—institutions like the police and military, and coercive constructs like laws and regulations.

DLF, the country's largest real estate developer, is in discussions with Bharti Realty to acquire under-construction phases of Aerocity in Delhi with a total development potential of 17 million sq ft, according to three sources familiar with the matter. About 5 million sq ft of the total portfolio will be retail, and once completed, the project is expected to generate an annual rental income of ₹5,000 crore. The first phase of Aerocity was also developed by Bharti, but later Canada's Brookfield Asset Management acquired a 51% controlling stake in Rostrum Realty, a real estate joint venture company in which Sunil Mittal-led Bharti Enterprises holds the remaining 49%. «GMR has the lease for the entire area until 2066, and when the bid was invited for the first time, DLF participated, but it was awarded to Bharti. It has again initiated the process to acquire the asset to further strengthen its rental portfolio,» said one person familiar with the matter.

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₹1,000 crore, includes an equity value of ₹300 crore, according to two people familiar with the development. Commissioned in May 2013, the hydroelectric facility harnesses power from two interconnected reservoirs located on the Rangpo and Rongli rivers. Mint had earlier reported that Greenko Group was considering the acquisition of GI Hydro's 110 MW Chuzachen project.

will turn profitable in another 6-8 months, once the newly launched 'BB Now' vertical starts making money, its co-founder and chief executive Hari Menon told reporters here. When asked about plans for an IPO, he said, «We will probably have it in 2025. But we are leaving it to the Tatas, there cannot be anybody better to guide us and advise us on that.»

Tata Consultancy Services (TCS) , Infosys share prices have gained 18-20% from October lows. The overall investor sentiments have improved with expectations of the US interest rates likely to have peaked leading to easing concerns on global slowdown. As analysts remain optimistic on earnings catching pace in few quarter , there are several opportunities that can help improve growth prospects.

₹532 in 24 months, indicating a potential upside of over 128%. "Since our last initiating coverage on Religare Enterprises Ltd (REL) dated 9th Oct 2023, the company has announced various developments and shared its strategies for its business verticals. Accordingly, we are upgrading our 24-month SOTP-based price target from INR 471 per share to INR 532 per share," it said.