NEW ENTERPRISE
Q1 results today: Jio Financial, SpiceJet, HDFC Life among 36 companies announce earnings on Monday
HDFC Life, Jio Financial, HDFC AMC, Angel One, SpiceJet, and 36 other companies including Hatsun Agro, KBC Global, Kelton Tech, Modern Engineering, Monarch Networth Capital, Oasis Securities, Rajoo Engineers, Sheetal Cool Products, Tahmar Enterprises, Styrenix Performance will announce Q1FY25 earnings. Important aspects to watch include HDFC Life's APE and VNB estimates.
Thirst Trap: Water sustainability issues loom over India's booming data centre industry
India's data centre industry is booming, driven by significant investments from companies like Adani Enterprises. However, this growth raises concerns about the substantial water consumption needed for cooling in water-scarce cities. Operators are adopting alternative cooling technologies like air-cooled chillers to reduce water use. Despite these efforts, India lacks a national policy on data centre water usage. Experts call for sustainable practices to balance industry growth with water conservation.
NABARD set to introduce Rs 750 crore agri fund for startups, rural enterprises
The fund is being launched by NABVENTURES, a subsidiary of NABARD with an initial corpus of Rs750 crore with Rs 250 crore each from NABARD and the Ministry of Agriculture, and Rs 250 crore from other institutions. This initiative aims to promote investment in innovative, technology-driven, high-risk, and high-impact activities in agriculture and allied areas.
India tops China in billion-dollar realty companies
India's real estate sector has surged, boasting 36 homegrown companies valued at $1 billion or more, surpassing China in this regard. The growth, outlined in the 2024 GROHE-Hurun India Real Estate 100 report, highlights the sector's robust expansion driven by urbanization, infrastructure development, and shifting consumer preferences. Leading the pack is DLF with a valuation of ₹2 lakh crore, followed by Macrotech Developers and Adani Realty. Mumbai leads with 33 companies on the list, underscoring India's thriving property market amid significant global contrasts in real estate fortunes.
Govt receives bids from 23 companies for tranche-II of electrolyser manufacturing incentive scheme
Adani Enterprises Ltd, Bharat Heavy Electricals Ltd, Avaada Electrolyser Pvt Ltd, Thermax Ltd, and Waree Energies Ltd are part of the 23 companies bidding for incentives to manufacture electrolysers in the second tranche of the Strategic Interventions for Green Hydrogen Transition (SIGHT) Scheme. The scheme, part of the National Green Hydrogen Mission, aims to boost domestic manufacturing and green hydrogen production with a total outlay of ₹17,490 crore. The latest tender received bids for 2,847 MW, exceeding the offered capacity of 1,500 MW, with bids totaling up to ₹2,220 crore.
MSME Day: Solutions to empower small enterprises amidst challenges
Ratnaafin and The Economic Times hosted the MSME Growth Conclave, emphasizing MSMEs' impact on Gujarat's economy. Topics included financial vigilance, credit scores, venture capital, compliance, women's entrepreneurship, infrastructure, and financial support from NBFCs. Key points were maintaining good CIBIL scores, honoring cheques, and leveraging digital banking for MSME growth.
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India outshines China with 36 real estate companies valued at over a billion dollars
India has surpassed China in the global real estate sector with 36 billion-dollar companies, a significant increase from just 7 six years ago. Mumbai leads with 33 companies, followed by Bengaluru and New Delhi. DLF is the most valuable, with Adani Realty entering the top 10. The sector's growth is driven by urbanization and infrastructure development, with 86% of companies increasing in value. The top 100 companies are valued at $171 billion, exceeding the combined GDP of Oman and Sri Lanka.
Confident of achieving 45-55% growth this financial year: Avinash Godkhindi, Zaggle Prepaid
So, it is great that more and more people are coming into the formal sector and organised employment. And as they come into organised employment, they get PF, ESIC, they pay your taxes and eventually they want to save on those taxes.
Godrej Enterprises charts course to unlock growth potential
GEG aims to tap into synergies offered by business adjacencies to accelerate its growth after a recent realignment of revenue streams and companies in the century-old Godrej Group. Internal discussions are still going on in this matter and the group may consider creating separate scalable business units to drive growth.
HSBC Flexi Cap review: 22% returns in three years; should you invest in this flexi-cap fund?
Earlier known as HSBC Multicap Equity, this fund was rebranded to reflect its fluid positioning as a flexi-cap fund. The fund prefers quality businesses characterised by scalability and strong execution capability, proven management track record and strong financials. The ESG parameters and valuation are also embedded in the framework. ET Wealth examines the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.
Del Monte Foods announces Abhinav Kapoor as new CEO
Abhinav Kapoor was previously vice president, sales at VIP Industries, where he was overseeing P&L, multiple channels and sales, the company said in a statement, adding that Kapoor has over two decades of experience in sales and distribution within consumer businesses. He has previously held leadership positions at Cavinkare, Britannia Industries, Mondelez and Marico, the statement said.
About 80% of sales professionals in India feel they are not sufficiently skilled: upGrad Enterprise report
According to upGrad Enterprise's Grand Sales & Workplace Report 2024, 80% of India's sales professionals feel unprepared for a rapidly evolving work environment. The report highlights that 61% are considering job changes within 3-24 months, with high stress levels, especially in automotive and retail sectors, and a significant gender income disparity in sales roles.
Amrit Jiwan elected as new MAIT president
The Manufacturer's Association of Information Technology (MAIT) appointed Amrit Jiwan as president and aims to encourage domestic IT hardware manufacturing. They align with the New National Policy on Electronics and prioritize tax structuring stability for business growth under Jiwan's leadership.
Banking stocks lift Sensex, Nifty to new heights in July opening
D-Sreet closed on a positive note on Monday, with the S&P BSE Sensex gaining 443.46 points to settle at 79,476.19. The broader Nifty index also rose, adding 131.35 points to close at 24,141.95. The banking sector showed particular strength, with the banking gauge up by 0.44%. Tech Mahindra, Wipro, Bajaj Finance, Grasim Industries, and UltraTech Cement were among the top gainers, while NTPC, Eicher Motors, Apollo Hospitals Enterprise, SBI, and Dr. Reddy's Laboratories experienced declines. Market capitalisation of all the BSE listed companies increased by Rs 344,798 crore.
Ambuja Cements board approves merger of Adani Cementation with company
ACL has acquired land to set up 2.5 MTPA (million tonnes per annum) along with captive jetty at Amba River, Raigad (Maharashtra). Besides, it has commissioned 1.30 MTPA cement grinding capacity at Dahej, Gujarat in July 2023, where expansion is in progress for another 1.20 MTPA.
Rs 2,000-crore new terminal of Guwahati airport to open in April 2025: official
The Adani Group-run Lokpriya Gopinath Bordoloi International Airport in Guwahati will shift to its new terminal by April 2025. It has been delayed by design changes The airport aims to be India's most efficient terminal at a cost of over Rs 2,000 crore. The new terminal will accommodate 13.1 million passengers annually, increasing runway capacity and introducing amenities like an MRO facility, helipad, and cargo market to establish the airport as an international hub for South East Asia.
Adani Airports to chart next decade with $21 billion infusion
The business is housed under wholly owned subsidiary Adani Airport Holdings, which currently owns seven operational airports, in Mumbai, Lucknow, Ahmedabad, Jaipur, Guwahati, Thiruvananthapuram and Mangalore. Phase I of city-side development across 98 acres at airports in Mumbai, Ahmedabad, Jaipur, Lucknow and Guwahati has begun.
How GenAI is opening up new revenue streams for IT firms and GCCs
The rise of generative AI (GenAI) presents an opportunity for IT firms to unlock new revenue streams. Companies like Accenture, Infosys, and Tech Mahindra, alongside global capabilities centers (GCCs), are seeing a surge in data standardisation work. This is driven by the vast amount of "uncleaned/unstructured" data held by their clients and parent companies.
MapmyIndia founders set up new data analytics, consulting firm ClarityX
ClarityX has started operations in partnership with MapmyIndia. MapmyIndia cofounder and CMD Rakesh Verma said, "We are now setting up an AI-driven data analytics and consulting company ClarityX which is independent of MapmyIndia." He added the company is expects to clock revenue of Rs 50 crore in the first year of operation.
Sebi orders Religare to seek regulatory approvals for Burman family open offer
The capital markets regulator's directive has come as a setback to the New Delhi-based financial services firm's management led by chairperson Rashmi Saluja, who has been opposed to the Burmans' bid to raise their stake in the company. Entities owned by the Burman family are the biggest shareholders of Religare.
Pharma industry raises concerns over new Schedule M's impact on cosmetic manufacturing
The pharmaceutical industry, represented by the Federation of Pharma Enterprises (FoPE), has expressed concerns over the government's new Schedule M, which prohibits the manufacture of any product other than drugs in units licensed for drug production. FoPE argues that setting up a separate plant for cosmetic manufacturing is financially unviable for medium and small-scale enterprises. They are requesting permission to manufacture cosmetics in the area designated for topical products like creams and lotions.
Government seeks candidates for new chief at Indian Oil
The petroleum ministry recommended a tenure extension for SM Vaidya, but the prime minister's office rejected it. Speculation arises about Vaidya's future as his term nears an end.
Brigade Enterprises Q4 Results: Profit jumps nearly 3-fold to 206 crore
Realty firm Brigade Enterprises Ltd on Tuesday reported a nearly three-fold jump in consolidated net profit to Rs 206.09 crore for the March quarter on the back of higher income. Its net profit stood at Rs 69.25 crore in the year-ago period.
'Star Trek- Strange New Worlds' Season 3: Filming complete. When will it be released?
Star Trek, the legendary franchise's latest upcoming season 'Star Trek- Strange New Worlds' Season 3 has recently received an amazing update about its production and tentative release. Here's all you need to know about the upcoming season.
Hero Realty appoints Madhur Gupta as CEO
Madhur Gupta has been appointed as the new CEO of Hero Realty Pvt Ltd, succeeding the former CEO who left to start his own venture. Gupta, an alumnus of IIM Lucknow and with a mechanical engineering background, previously led Hero Steels Ltd to operational excellence and profitability. Hero Realty aims for sustainable and community-centric developments, with plans to launch four new projects this year in Delhi NCR, Ludhiana, and Mohali.
Defensive stocks: FMCG is “passe”; 8 stocks from two sectors may be called “new defensives” with upside potential of up to 32%
1994 to 2024 is a difference of 30 years, but there is one thing which has remained constant, advice to move to defensive stocks when markets are volatile or there is an event risk. Four questions need to be asked; first, what is a defensive stock? Second, is a stock which was considered a defensive in 1994 when the Indian economy was just opening, still a defensive stock in 2024 ? Third, should there be a new definition of defensive stock in 2024 ? Last but not the least, what are the new defensive sectors or stocks?
Brookfield India REIT inks pact to acquire Bharti JV stake, funding through listed units
Brookfield India REIT acquires 50% stake in Bharti Enterprises' real estate joint venture in New Delhi, adding Grade A assets and increasing operating area by 16%. Ankur Gupta, Managing Partner at Brookfield, emphasizes the diverse portfolio.
New 'Lord of the Rings' film begins. When will Warner Bros. release 'The Hunt for Gollum'?
Peter Jackson and Andy Serkis will direct Warner Bros.' new 'Lord of the Rings' film 'The Hunt for Gollum'. Original trilogy filmmaker Peter Jackson and his partners Fran Walsh and Philippa Boyens will produce the film.
Adani Enterprises to invest Rs 80,000 crore in capex this fiscal
Adani Enterprises plans ₹80,000 crore capex, focusing on ANIL and airports. Ganga Expressway gets ₹12,000 crore. Shah mentions coal-to-PVC and data center. Debt rises 31%. ANIL includes green hydrogen, wind turbines, and large monocrystalline unit.
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