Enterprise Financial News

Zee Entertainment Enterprises Ltd. gained 0.19 per cent to Rs 155.3 in Tuesday's session as of 12:08PM (IST) even as the equity benchmark Sensex traded 223.12 points lower at 73649.17. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 299.5 and a 52-week low of Rs 152.5 on NSE. Around 656673 shares changed hands on the counter till 12:08PM (IST).

Macrotech Developers Ltd.(up 2.2 per cent), Phoenix Mills Ltd.(up 1.92 per cent), Godrej Properties Ltd.(up 1.03 per cent), Swan Energy Ltd.(up 0.95 per cent) and Mahindra Lifespace Developers Ltd.(up 0.23 per cent) were among the top gainers.

Zee Entertainment Enterprises has come out with competitively priced packages for advertisements during the Indian Premier League (IPL) season, according to a senior executive, a move seen making it easier for brands that find IPL TV broadcaster Disney Star's rates prohibitive. The packages offered by Zee Entertainment — which has more than 17% share in TV viewership — will allow brands to reach audiences at scale with lower outlays during the IPL period. The rates of Zee's prime-time advertisement packages range from ₹16 crore to ₹35 crore, according to Ashish Sehgal, the company's chief growth officer, ad sales. In comparison, rival Disney Star's IPL packages are priced between ₹83 crore and ₹167 crore. Disney Star is also looking to broaden its IPL advertiser base by offering customised packages. Sehgal said the company has multiple advertisement packages for the IPL period for the varied marketing objectives of advertisers. Sehgal said the company has devised an eight-week plan for brands that wish to outshout their competitors during the IPL. It has shorter duration four- and six-week plans.

engagement of apprentices across establishments in industrial clusters. The skill development and entrepreneurship ministry is finalising the process of selecting industry clusters across the identified states and handholding them through financial aid as well as infrastructure creation to help them participate in a formal apprenticeship system, said a senior government official. «Top officials of the Ministry of Skill Development and Entrepreneurship held the first meeting with industrial clusters in Gujarat, Delhi and Haryana to nudge micro, small and medium enterprises to engage more apprentices as the country aims to fast-track creation of a skilled workforce,» said the official, who did not wish to be identified.

merger-related activities have impacted operations and business, Zee Entertainment Chairman R Gopalan said adding the company has now taken several incremental steps to protect all stakeholders and enhance its intrinsic value through this phase. There is «significant room for performance enhancement» and a revival plan by the management team is already being put in action to accelerate growth and enhance profitability, said Gopalan in the opening remarks of an investor conference call of Zee Entertainment Enterprise Ltd (ZEEL) on Monday. The board has also decided to closely monitor the business model and plan presented by the MD & CEO of the company wherein he has provided the roadmap to improve the performance and efficiency of each of the businesses to achieve higher EBITDA. «We are fully cognizant that significant room for performance enhancement exists and a revival plan by the ZEEL management team is already being put in action to accelerate growth and enhance profitability,» he said, adding the board has full confidence in the ZEEL management team's execution capability.

₹42.49 crore initial public offering (IPO) of small and medium-sized enterprise Shree Karni Fabcom will open for subscription on Wednesday, March 6, 2024. The issue, which will close on Monday, March 11, has a price band in the range of ₹220 to ₹227 per share. Shree Karni Fabcom IPO GMP or grey market premium was ₹300, indicating that the company is estimated to list at ₹527, a 132.16 percent premium to its IPO price.

The S&P 500’s advance to a record high — fueled by a small group of supercharged technology stocks — doesn’t resemble past bubbles, according to strategists at Goldman Sachs Group Inc.

Investing.com — Super Micro Computer (NASDAQ:SMCI) is up more than 12% in premarket trading Monday, propelled by an announcement on Friday that it will be added to the benchmark S&P 500 index. The SMCI stock is the best-performing large-cap company this year, surging nearly 220% since January 1.

Zee Entertainment Enterprises Ltd. dropped 1.7 per cent to Rs 155.65 at 01:59PM (IST) in Monday's trade. The stock hit a high of Rs 159.95 and low of Rs 154.85 so far during the session. The stock had closed at Rs 158.35 in the previous session. The counter had a total traded volume of 01:59PM shares so far with a turnover of Rs 8.04 crore on BSE. The stock traded at a price-to-earnings multiple of -220.02 and a price-to-book ratio of 1.9.

Nokia on Monday said it has partnered with Sterlite Technologies (STL), an optical and digital solutions company, to enhance networking and digital solutions for government institutions and enterprises. The partnership will also focus on government-driven connectivity projects to offer connectivity and networking solutions, Noika said in a statement. «The collaboration will accelerate the Industry 4.0 revolution. By leveraging these solutions, businesses can gain a competitive edge and drive transformation with disruptive technologies,» the statement said. Both companies will strengthen enterprise networks, providing high-speed, high availability, low-latency connections for applications such as 5G, IoT ( Internet of Things), data centre interconnect, supply chain efficiency, real-time data analytics, and generative AI use cases, according to the statement.

ARCIL) has bought nearly ₹400 crore worth of bad loans or non-performing assets (NPAs) of Saraswat Bank with a haircut of nearly 86%. Saraswat Bank, one of the largest cooperative banks in the country, sold the NPA portfolio comprising retail and micro, small and medium enterprises (MSME) loans as a clean-up for future growth capital. The bank has concluded the sale of the NPA portfolio it had announced in the previous quarter. Initially planning to sell assets amounting to ₹410 crore, Saraswat Bank later reduced the pool to ₹385 crore, seeking bids on a 100% upfront cash basis as it wanted to clean up its loan book for future growth. BOB Capital Markets was the process advisor.

Cuba’s economy is in its worst state since the collapse of the Soviet Union in the 1990s. Even the official figures—which one Western businessman in Havana, the capital, describes as “an exercise in a cover-up"—make grim reading. Annual inflation, according to the government, is at 30%.

Edited excerpts: IBM Consulting comprises 160,000 people including 21,000 data scientists and AI professionals, and a generative AI CoE (centre of excellence) of over 1,000 people. We’re working in three big areas. One of them is customer care and customer experience—applying generative AI for contact centre agents to improve call handling times and deliver better customer experience.

unemployment woes. He mentioned that India’s unemployment had surpassed Pakistan, Bangladesh and Bhutan. According to Gandhi, PM Modi's policies are responsible for it.

₹26,000 per month v. ₹10,000 in the rest of India) committing suicide? Why does Punjab, India’s most highly irrigated state, continue to be a home for farmer protests? Sayantan Bera, Mint’s resident expert on India’s rural economy, dives into Punjab’s farming communities to explain the crisis unfolding in the land of the five rivers. A groundwater crisis and the persistently broken economics of farming in India make for a distressing picture.

(Reuters) — Dell Technologies (NYSE:DELL) shares surged more than 20% on Friday after the tech equipment maker provided an annual forecast that was largely ahead of Wall Street expectations and reinforced rising demand for AI-related gear.

Hewlett Packard Enterprise on Thursday forecasted second-quarter revenue below Wall Street estimates, as businesses scale down spending on the server maker's technology solutions. Shares of the Spring, Texas-based company fell about 3% in extended trading.

Apollo Hospitals Enterprise Ltd. with a target price of Rs 6800. The current market price of Apollo Hospitals Enterprise is Rs 6051.7. Apollo Hospitals Enterprise Ltd., incorporated in the year 1979, is a Large Cap company (having a market cap of Rs 87239.18 Crore) operating in Hospitals & Allied Services sector.

On the BSE, Sagar Diamonds(down 19.94 per cent), Indo Us Bio-Tech(down 12.44 per cent), Max Healthcare(down 8.91 per cent), Informed Tech(down 7.55 per cent) and Ind Swift Ltd(down 7.18 per cent) were among the stocks that plunged over 5 per cent during the session.

Rajeev Mantri, MD, Navam Capital, says “talking about the whole public sector enterprise, what could be a trigger after elections for this area is the implementation of the privatisation policy. So, for the first time, we have had a notified privatisation policy issued by the Government of India and the government has stated that it will completely exit certain sectors.”

Stocks that traded heavily or had substantial price changes on Wednesday: Boston Beer, Urban Outfitters fall, Alcon, Axon Enterprise rise