MTNL informed investors that its debt obligations for the upcoming semi-annual interest payment on its 7.80% bond have been made for Series VIII-C (INE153A08170). The funds were transferred into the designated escrow account on November 4, before the November 7 due date.
While the company does not have any identifiable promoter, several institutional investors such as Accel India, Apoletto Asia, Alpha Wave Ventures, DST Euro Asia and Norwest Venture Partners are partially divesting their stakes through the IPO. Proceeds from the fresh issue will be used to repay debt, add dark stores, invest in technology and cloud infrastructure, brand marketing and fund inorganic growth.
India’s wearables market has been on a downturn for over a year, affecting major brands like Boat and Boult. Boat reported a 5% revenue drop in FY24 but halved its losses, while Boult’s profits shrank despite a 40% revenue increase due to expansion efforts. Smartwatch demand remains low, with a 10% decline in Q2 shipments. Meanwhile, the true wireless audio segment grows, driven by budget-friendly features and quick-commerce expansion.
According to industry insiders, many companies would use the Pan number of a customer and use the Income Tax department’s backend systems to access the customer’s full name, address, phone number and many such details. To combat this, the Union home ministry through the Indian Cybercrime Coordination Centre (I4C) has asked to shut down any unauthorised use of PAN of Indian citizens by fintechs and other consumer technology companies.
Vasu Jakkal, corporate vice president, Microsoft Security said that “defenders” the world over are facing tremendous operational complexity as it is a fragmented ecosystem with numerous tools that they must stitch together and figure out the insights. What compounds the challenge is that there is a shortfall of four million cybersecurity experts globally, she said.
Voices are calling for a pro-innovation approach to AI regulation led by sectoral experts, without being overly prescriptive or settling for a centralised one-size-fits-all law for this fast-evolving technology.
India accounts for Adobe’s largest employee base outside the US with 8,000 people in five campuses. “Some of our teams are working on the Firefly model, others are operating our GPU (graphics processing unit) cluster while some of them are building services like the Adobe Illustrator,”said Alexandru Costin, vice president of GenAI at Adobe.
India does not have an AI law but it has rolled out the `10K-cr IndiaAI Mission earlier this year. The mission is indicative of India’s approach — to focus on building AI capabilities through computing infrastructure, skills, datasets and support for AI innovators.
Among those setting up base are QSR companies such as Yum Brands and Starbucks, media and entertainment firms Warner Bros and Discovery, as well as hotels chain Marriott International, energy giant Chevron and smaller firms such as US K-12 education software and content provider Curriculum Associates.
The move is aimed at facilitating ease of investment, increasing transparency and enabling diversification in overseas investments, Sebi said on Monday. The total exposure by such foreign funds should not be more than 25% of their assets, the regulator said in a circular.
There was earlier a major legal dilemma around Elon Musk's decision of giving away a million-dollar check to US voters ahead of the Presidential elections, that was being hosted in the key swing states. It now appears that Musk has got ahead of these legal troubles after a Pennsylvania judge ruled in his favor.
Embassy Office Parks Management Services is manager to Embassy REIT, the country's largest real estate investment trust with a market capitalisation of ₹40,000 crore. The regulator has asked the company to appoint an interim CEO.
Gold prices have risen 30.69% in rupee terms over the past 12 months, while it has gained 39.10% in dollar terms. During the same period, the Nifty 50 has gained 25.6%. In this calendar year, gold has so far gained 26% in rupee terms, while the Nifty gained 11.8%.
Indian Oil (IOC) fell the most at 4.14%, Hindustan Petroleum (HPCL) and Bharat Petroleum (BPCL) were down over 3% at close on Monday. Brent crude January Futures were up about 2% after OPEC+ announced a voluntary delay in increasing crude output for the month of December. It was already delayed in October due to falling prices.
The Nifty ended at 23,995—the lowest closing since August 6, down 309 points or 1.3% over Friday’s close. The Sensex closed at 78,782, down 941.88 points or 1.2%. Both indices fell as much as 1.6% earlier in the day.
Hero Electronix, led by Suman Kant Munjal, is exploring the sale of a 25-30% stake in Tessolve, a semiconductor design firm. The deal could value Tessolve at $400-450 million, with Hero Electronix aiming to capitalize on the booming semiconductor industry. Tessolve, however, stated it is not currently engaged in fundraising discussions.
The company is said to be in the process of mandating an investment bank for the stake sale. Tessolve said it’s not engaged in fund-raising talks. Two years after its last capital round, majority shareholder Hero Electronix is looking to generate $120-150 million (Rs 1,000-1,260 crore), said the people cited above, pegging Tessolve’s value at $400-450 million (Rs 3,300-3,800 crore).
Noel Tata, newly appointed chairman of Tata Trusts, has joined the board of Tata Sons as a nominee director. This marks the first time since 2011 that a Tata family member holds positions on both boards concurrently. Tata Trusts, with its 66% stake, is the largest shareholder in Tata Sons, the holding company of the Tata Group.
The US economy managed to only add up 12000 jobs in the month of October, according to the latest jobs data report of the employment market right before Election Day. Donald Trump is already criticizing this sudden drop in the jobs data, and ahead of Election Day it can be ascertained by the Republicans that this sudden surprise can end up for at least a handful of vote shift.
Will mid-cap stocks see more decline? It is a high-probability scenario. But, in the current market, that could happen to small- and large-cap stocks as well. What matters to the street are valuations, quality of businesses, and individual managements. So, over the long term, it would pay to be bullish. Just remember three things: Be ready for some decline in the days to come over certain global issues; be more selective and cautious when picking stocks; and stagger out your buying.
Within a matter of a few hours, the US elections will begin, and there is no saying as to how the US stock market will react to either candidate winning, with many even bracing for a stock crash. What is exactly going to happen to the stock markets in this Trump vs Harris clash?
Given market conditions these days, the chances are the bears will maul every stock on the street. But here’s a lesson from history: When the market finally starts recovering, it will be led by stocks of good businesses with managements that have experience in dealing with all kinds of adversity. So, forget about the correction and how long it will last. Focus on what kind of business you are buying. ET Screener, powered by Refinitiv’s Stock Report Plus, lists quality stocks with high upside potential over the next 12 months... Читать дальше...
ITC Ltd., after reaching a record high, experienced a dip but is showing signs of recovery. Experts suggest a potential upward trend, recommending a buy for short-term gains with a target of Rs 540 in the coming months.
Select stocks gain momentum even in volatile markets.
