Enterprise Financial News

Exicom Tele-Systems will open for subscription on Tuesday. The issue closes on February 29. Through the public offer, the company plans to raise around Rs 429 crore. Here are 10 things to know about Exicom Tele-Systems IPO before subscribing to the issue.

By Shariq Khan and Laura Sanicola

Zee Entertainment Enterprises Ltd. gained 0.11 per cent to Rs 173.5 in Monday's trade as of 11:31AM (IST). The stock hit a high price of Rs 176.85 and low of Rs 172.7 during the session.

Infibeam Avenues, a fintech firm, saw its shares gain 10% to ₹37.90 apiece in today's (Monday) intraday trade after the company announced an investment of $10 million for the acquisition of a 20% strategic stake in XDuce, a renowned enterprise application and AI development company based in the United States. With headquarters in New Jersey, USA, XDuce has a team of over 150 software developers in the US, servicing some of the marquee Wall Street and insurance clients in North America.

Bank Nifty was down by -183.8(-0.39%) at 26 Feb 2024 10:44:56 IST.In the BSE Sensex index Power Grid Corporation Of India, Larsen & Toubro, Mahindra & Mahindra, HDFC Bank, Tata Motors were the top gainers while Asian Paints, Wipro, Bharti Airtel, Tech Mahindra, Infosys were the top losers.In the Bank Nifty index Bank Of Baroda, HDFC Bank, IDFC First Bank, were the top gainers while Bandhan Bank, Au Small Finance Bank, Federal Bank, Punjab National Bank, Kotak Mahindra Bank were the top losers.For the complete list of 52 week high stocks click here. Milestone Alert! Livemint tops charts as the fastest growing news website in the world

Juniper Hotels just managed to scrape over the finish line with an overall subscription of 2.08 times on the third day of the bidding process. The issue, which closed on Friday, was fully booked in the retail and QIB portions, but NIIs were a let down. The share allotment for the public offer is expected to be finalised today. Investors can check the status of their share allotment on the BSE or even by logging in to the registrar website.

Indian stock market today: A total of 13 stocks have been banned for trade on Monday, February 26, 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.

(Reuters) — AT&T (NYSE:T) will credit customers a full day of service for the carrier's more than 10-hour outage on Thursday that affected more than 70,000 users, saying it was the «right thing to do.»

Payments banks (PBs) are expected to knock on the doors of Reserve Bank of India (RBI) to permit them to take small-value fixed as well as recurring deposits, since procuring low-cost savings bank (SB) deposits is proving tough amid rising interest rates on term deposits, reported Business Line.

hacking group has exposed extensive cyber intrusions conducted by Beijing's intelligence and military entities against foreign governments, companies, and infrastructure. According to a report by The Washington Post, the leaked cache, comprising over 570 files, images, and chat logs, provides a rare insight into the operations of a firm hired by Chinese government agencies for on-demand, mass data-collecting operations. The files, posted on GitHub last week, reveal contracts spanning eight years aimed at extracting foreign data. The targets include at least 20 foreign governments and territories, such as India, Hong Kong, Thailand, South Korea, the United Kingdom, Taiwan, and Malaysia.

Chinese stocks from world’s worst to best performers is stoking cautious optimism that the rally will continue as long as favorable market policies remain in place. Rarely has a week gone by in 2024 without Beijing unleashing new measures to buttress the market or the economy. That policy resolve has pushed an index of Chinese shares listed in Hong Kong up more than 10% this month, topping the 90-strong list of major global equity gauges. The CSI 300 Index of onshore shares has risen for nine days, its longest winning run since 2018.

Exotel, Freshworks, Gupshup, Corover.ai and Yellow.ai. While this transformative technology is applicable to multiple channels from websites to apps, social media as well as messaging platforms including Google’s RCS (rich-communication services), the most prominent early adopter is proving to be Meta’s WhatsApp. Generative AI is making WhatsApp-based customer support conversations more «human and free-flowing», rendering standard bot-replies redundant according to businesses that have incorporated this new tool.

Corporate Affairs (MCA), which is investigating Zee Entertainment Enterprises Ltd (ZEEL) over alleged corporate governance violations, has written to the Securities and Exchange Board of India (Sebi) seeking details on its latest findings on fund diversion that have been cited in media reports, said people aware of the matter. The ministry's preliminary probe had found appropriation of ZEEL's fixed deposits (FDs) by Yes Bank, for squaring off loans of related entities of Essel Group. ZEEL is part of the Essel Group promoted by Subhash Chandra and his family. Since 2019, both the MCA and Sebi have been investigating the group over allegations levelled by independent directors. While the MCA is probing allegations pertaining to violations under the Companies Act, 2013, Sebi is investigating accusations of capital market breaches. Their probes had found that FDs of Rs 200 crore were appropriated by Yes Bank for settling loans of related parties of Essel Group.

IDBI Bank has come out with a portfolio of micro, small and medium enterprises (MSME) loans for sale. It has put Rs 280-crore of MSME loans up for sale and received interest from seven asset reconstruction companies, including JC Flowers ARC, ARCIL, Omkara and ACRE. Other banks like Indian Overseas Bank (IOB) and RBL Bank have sold their MSME loans in the last quarter. MSME loans given during the Covid-19 had turned into non-performing assets (NPAs) and are now up for sale.

Asset Reconstruction Companies (ARCs) sector is expecting to notch up reasonable growth in Assets Under Management (AUM) and may cross the Rs 10 lakh-crore-mark this fiscal, up from Rs 8.48 lakh crore a year ago, according to a report. According to the report by Crisil Ratings, which was released at an Assocham seminar on ARCs/stressed assets here on Friday, the sector must now look to consolidate as the Non-Performing Assets (NPA) problem has been «well contained». The book value of bad loan sales to ARCs is likely to cross the Rs 10 lakh crore-mark by next month from Rs 8.48 lakh crore in March 2023, the report said.

BofA raised its price target for Dell Technologies (NYSE:DELL) to $98 from $82 per share in a note Friday, maintaining a Buy rating on the stock.

NEW DELHI : ZEE Entertainment Enterprises Ltd is establishing an advisory committee to help it protect the interests of stakeholders amid what it said were misinformation and rumours resulting in negative public opinion about the company. “The board has approved to constitute an independent advisory committee that will enable it to review and take cognizance of the widespread circulation of misinformation, market rumours, and speculation that has led to the formation of negative public opinion about the company and consequent erosion of investor wealth," the company said in a statement on Friday. The committee will be presided by Satish Chandra, a former judge of the Allahabad High Court, and will comprise two independent directors of the company, Uttam Prakash Agarwal and P.

Zee Entertainment Enterprises Ltd on Friday announced the formation of a three-member independent advisory committee aimed at reinstating shareholders' trust. The committee will be chaired by Dr. Satish Chandra, a retired judge from the Allahabad High Court.

Council For Fair Business Practices (CFBP) in Mumbai, mainly supported by VIP and the Tata Group, had the who’s who of the corporate world in attendance. Senior lawyer and CFBP president Swapnil Kothari said, “In today’s competitive times, fair business practices are more imperative — whether for a corporate behemoth, a small-scale enterprise or an individual. “CFBP considers itself to be the pioneer and the custodian of ethics, as it passionately professes, practises and propagates fair practices in an endeavour to touch every spectrum of society — be it industry, medicine, law, women empowerment or education. Carrying forward the legacy of our visionary founders, primarily JRD Tata, Ramkrishna Bajaj and Soli Godrej, I feel that today, and for the next 25 years, business ethics, climate change and women empowerment will be the buzzwords in the corporate world or our societal consciousness.” Ex-advisory board member and 16th Finance Commission chief Prof Arvind Panagariya set the tone for the morning by going back in history about the scriptural essence of ethics and how they were steeped into the sublime consciousness of the great founders of CFBP.

manufacturing sector needs to contribute a quarter to India's economic growth amid its ambition of becoming a USD 30-trillion economy by 2030 and a developed country (Viksit Bharat), M&M group Managing Director and CEO Anish Shah said on Friday. Sharing his perspective on the role industries and enterprises will have to play in accelerating national growth and economic prosperity at the third ABP Network's 'Ideas of India Summit 3.0' here, he also said over the next seven years, Indian GDP is expected to add as much to the global GDP as the entire European Union combined. The two-day event, which began here on Friday, has seen the participation of policymakers, cultural ambassadors, industry experts, celebrities, business leaders, economists, among others. «India envisions to be a 30-trillion economy by 2047 to be a Viksit Bharat. This means manufacturing should be 25 per cent of GDP… We should be more ambitious and make manufacturing grow 16 times and exports grow 11 times.» Shah said.

Enforcement Directorate on Friday raided locations in Uttar Pradesh, Gujarat and Haryana as part of an alleged ₹750 crore bank loan fraud-linked money laundering probe against a road construction and toll plazas operating company promoted by a former UP MLA, official sources said. The search action is being taken against Gangotri Enterprises and its main promoters Vinay Shankar Tiwari, Rita Tiwari and Ajeet Pandey.