Enterprise Financial News

₹165 levels. Zee Entertainment Enterprises latest efforts to tackle the market turmoil through formation of independent advisory committee and thereafter changing the nomenclature to “An independent investigation committee" seem to have not helped lift investor confidence.

Tech Mahindra on Wednesday said it has signed a Memorandum of Understanding (MoU) at the Mobile World Congress (MWC) 2024 with Taiwanese electronics manufacturing major Pegatron to develop private 5G solutions for global enterprises. The company said the partnership between the organizations would explore «mutually beneficial opportunities» in the fast-growing private 5G space. It said it will leverage purpose-built private 5G product portfolio marketed under Pegatron's 5G business unit, coupled with Tech Mahindra's work in large-scale 5G transformations, to provide end-to-end 5G for Enterprise (5G4E) solutions for global enterprises and manufacturing customers.

Vodafone-Idea: Cash-strapped private telecom operator, Vodafone-Idea, on Tuesday saw its board approve a ₹45,000-crore fund raising initiative—including a ₹20,000 crore equity-based fund raise from existing investors. A shareholder meet for the fund raise is expected to take place on 2 April, post which the operator expects to complete the equity fund raise by the end of the upcoming June quarter.

₹1 trillion research-and-innovation corpus for deep technology announced in the interim budget likely to fuel ambitions across the country. In the early stages of DPI deployment, the basic purpose was to reduce leakages in government welfare delivery.

Zee Entertainment Enterprises board has expanded and strengthened its Independent Advisory Committee (IAC), renaming it Independent Investigation Committee (IIC). The IIC will conduct a thorough review of all allegations made by regulatory agencies against the company, its promoters, and key managerial personnel to protect the interest of shareholders and other stakeholders of the company. The committee will submit a report to the board after completing the exercise, outlining its recommendations and suggesting necessary actions. The committee has the authority to appoint or hire any independent external agency to assist in fulfilling its charter.

NEW DELHI : The board of directors of Zee Entertainment Enterprises Ltd (ZEEL) has expanded and strengthened the role of the independent advisory committee set up last week to review and examine all allegations raised by the regulatory agencies against the company, its promoters and key managerial personnel through a deep-dive exercise. The committee will take necessary measures to investigate the allegations, with the sole interest to protect the rights of the company’s shareholders and other stakeholders, ZEEL said in a statement on Tuesday.

₹300 crore, from ₹100 crore at present. The regulator offered a glidepath to reach ₹300 crore by 31 March 2026, with the target for March 2024 being set at ₹200 crore. Industry executives and external experts said this could prove detrimental for smaller ARCs that lack the ability to meet the NOF norms.

HCL Unica.Unica, founded in 1992 by Yuchun Lee, initially acquired by IBM, and now proudly owned by HCLSoftware, stands as one of the most reliable end-to-end marketing solutions available today. It enables marketing automation across a wide range of both inbound and outbound marketing channels.

Bank of Montreal missed analysts’ estimates as it grappled with weak capital-markets revenue and reported an increase in loan-loss provisions.

Balrampur Chini Mills Ltd.(up 2.08%), Bannari Amman Sugars Ltd.(up 0.28%) and EID Parry(India)Ltd.(up 0.17%) stood among the top gainers.

SIDBI ET MSME Conclave held in Rajkot saw a stellar turnout. From conversations around building financially resilient and competitive MSMEs to the challenges that need immediate solutions, the Rajkot edition aimed to understand the role of Gujarat in shaping a viable ecosystem for the MSME sector. Small and medium industries in the city are dominated by foundries, engineering & automobile works, and units that manufacture textiles, gold & silver jewellery, handicrafts, spices, medicines and wall clocks. Gujarat has the fourth-highest number of micro, small and medium enterprises in the country, after Maharashtra, Tamil Nadu and Uttar Pradesh, according to data provided by the Union government in Parliament last year.

Mint, Sunil Bharti Mittal, chairman of the conglomerate, said the enterprise segment of Airtel could potentially value at $10 billion and disclosed plans to align Bharti's stake in Airtel with that of SingTel in the future. Amid these strategic shifts, Mittal acknowledged the competitive pressure from Elon Musk's Starlink in the satellite broadband space, advocating for the immediate allocation of satellite spectrum ahead of the new telecom law's enactment. He also touched on various facets of Bharti Group's operations, including partnerships with OTT platforms, the potential listing of its payments bank, and the dynamics of competition and collaboration within the telecom sector.

Canara Bank: The public sector lender on Monday said its board has approved the split of each share into five shares, in an exchange filing. Canara Bank added that the move is aimed "to improve the liquidity of the Bank’s share and to make it affordable for retail investors and also to broaden the retail investors base". The expected time of completion for the stock split is 2–3 months, the public sector lender added.

Paytm’s imminent exit from the employee benefits market, following the regulatory action against its payments bank and mobile wallet, is set to offer an opportunity to rivals like Pluxee (formerly Sodexo), Zaggle and banks to expand their business in this space. “With Paytm Payments Bank and its wallet service being asked to stop (services) after March 15, large corporations are looking for alternative options since meal benefits are a crucial aspect of their tax compliance,” said a senior fintech industry executive in the know.

MEP Infrastructure Developers (MIDL) is seeking shareholder approval to bring in a new investor into the company, who will infuse ₹225 crore under the pre-packaged insolvency resolution process (PPIRP) that will allow the company to recoup the delays in payments and standardise the account which is currently classified as a non-performing asset.

high-net-worth individuals, luxury hotel chains in India are expanding their branded residences portfolio to cater to a wealthy clientele seeking premium living experiences. Marriott International, the world's largest hotel and branded residences operator, and the leader in operating standalone branded residences, recently signed up its first JW Marriott-branded residences agreement in India at Hyderabad and is in the process of signing up more. Similarly, Hilton is «actively seeking avenues» to extend the presence of its luxury brands like Waldorf Astoria and Conrad in metros to create branded homes. India's EIH, which signed up with B I Luxury for the first such project in May 2022 under Trident Residencies, will have its apartments and penthouses possession-ready by October this year, Shashank Bhagat, chairman, BI Group, told ET. These standalone properties (not co-located within a hotel premises) boast of five-star amenities and range from ₹18 crore to ₹45 crore. Some of the owners include Sunil Kant Munjal, chairman, Hero Enterprise and Pai family of the Manipal Group.

₹400-500 crore, with SIDBI holding a nearly 86% stake. It is billed as the country's first ARC supported by a large number of public sector banks and undertakings, focused on NPA resolution of the MSME sector. In 2022, Press Trust of India reported that Union bank of India had sold its 8% stake in ISARC in favour of Dhansamridhi Finance.

The NSE Nifty index ended the session 90.66 points down at 22122.05, while BSE Sensex fell 352.67 points to 72790.13.

The NSE Nifty index closed 90.66 points down at 22122.05, while BSE Sensex ended down 352.67 points at 72790.13.

Mint on the sidelines of an MWC 2024 press briefing that the company’s latest announcements are a part of its efforts to “invest in pretty important interoperability technologies, to make sure devices work better together". Google has also introduced accessibility features such as AI-generated captions in its Lookout app, facilitating the creation of automatic audio descriptions for on-screen content.

Indian Navy Chief Admiral R Hari Kumar has declared that the BrahMos supersonic cruise missile will become the primary weapon of the Indian Navy, supplanting older missile systems acquired from other countries. In an interview with ANI, Admiral Kumar stated, «BrahMos will be our primary weapon now as the surface-to-surface missile weapon.» He also indicated that the Indian Air Force and its fighter aircraft might adopt BrahMos as their primary air-to-surface weapon. He praised BrahMos for its evolution in range, capabilities, and lethality, emphasizing that the missile is «a very potent missile.» Admiral Kumar highlighted the advantage of BrahMos being manufactured in India. He noted, «It is made in India, so we are not dependent on anybody else. It can be repaired, and spares are available.» This self-reliance, he added, is a significant advantage for the Indian Navy.