India can now levy fine on 'global turnover' of companies abusing power. Details
The move could have bearings on foreign enterprises operating in India and Indian enterprises with a global presence. The amendment comes into effect from March 6. Key Points
Business TodayScheme to give loans upto Rs 20 lakh launched for informal micro enterprises
As this initiative unfolds, it is expected to empower individual entrepreneurs and create an inclusive, dynamic, and resilient economic ecosystem, he said while inaugurating four technology centres and two extension centres in Greater Noida, Uttar Pradesh. The minister said stressed that MSMEs should strive hard and become world class, so that India can become self reliant. Key Points
Economic TimesPiramal Enterprise to provide for ₹3,164-crore AIF exposure; Emkay cuts target price as it sees material impact on P&a
Piramal enterprises has a consolidated net worth of ₹28,710 crore, and a capital adequacy of 31%. We remain confident of full recovery of the underlying downstream investments in the impacted AIF units, the company said. Key Points
mintTelcos best suited to deploy private 5G networks: Jio, Airtel
I (read: enterprise) need to make sure that I interface with the device manufacturers, I need to know how to run a telco network, I need to provide security and then create an intercom system... So I'm not really sure what they get out of investing all of it to run a private network, Ganesh Lakshminarayanan, chief executive (enterprise business), Bharti Airtel, said during a panel discussion at the ETTelecom 5G Congress 2023 Key Points
Economic TimesNew digital competition law proposed to regulate big tech
A high-level panel proposes a new digital competition law in India to address antitrust concerns involving big tech companies. The law applies to systemically significant digital enterprises with penalties up to 10% of global turnover. enterprises must report their fulfilment of thresholds to the Competition Commission of India. Key Points
Economic TimesBurman Family picks up additional 4 pc stake in Religare enterprises for Rs 309 crore
New Delhi, Jan 31 (PTI) Dabur India promoter Burman family on Wednesday increased its grip on Religare enterprises after acquiring an additional 4 per cent stake in the financial services group for Rs 309 crore through open market transactions. M.B. Finmart, Puran Associates, and VIC enterprises — the three entities of Burman Family — acquired […] Key Points
ThePrintAce investor Porinju Veliyath bought a stake in this multibagger penny stock, scrip hit 5% upper circuit
With a market valuation of ₹99.86 Cr, Edvenswa enterprises Ltd. is a small-cap business that operates in the capital goods industry. Key Points
mintUdyam: Govt’s post-Covid MSME registration portal nears whopping 2-crore mark
Ease of doing business for MSMEs: As of June 4, 1.96 crore businesses were registered with Udyam certificates, of which 30.9 lakh were informal micro units brought into the formalisation fold through the Udyam Assist Platform (UAP). Key Points
FinancialexpressAdani enterprises arm acquires France-based Le Marche Duty Free
Adani enterprises has acquired France-based Le Marche Duty Free SAS (LMDF) for 5,000 euros, according to its Dubai arm, Ospree International FZCO. The strategic acquisition is in the interest of Mumbai Travel Retail Private Limited, and was incorporated on February 7, 2024. Key Points
Economic TimesDemerged CPSE companies can use parent's name for five years
The bid documents must clearly mention the conditions under which demerged entities may become eligible, it added. It is mandatory for central ministries or enterprises to procure a minimum 25% out of their total annual procurement from micro and small enterprises (MSEs). Key Points
Economic Times
Burman family likely to have upped stake in Religare Enterprises
In September 2023, the Burman family, which owns Dabur, signalled its intention to acquire a 5.27% stake in the financial services company for ₹407 crore, taking their shareholding to over 26%, triggering an open offer. Key Points
Business TodayCCI extends deadline for comments on turnover of enterprises norms till Jan 25
Under Section 27 of the Competition Act, 2002, the CCI can impose penalties on enterprises or individuals for participating in anti-competitive agreements or abusing a dominant position. In case an enterprise is required to prepare a consolidated financial statement under the rules, turnover or income shall be derived based on such audited consolidated financial statements, and if the audited financial statements are not available, the turnover should be determined based on the amount certified by the statutory auditor of the firm. Key Points
Economic TimesReligare hits out against Dabur's Burmans as takeover battle gets murkier
Religare enterprises has strongly responded to the Burman family's call for an investigation into the alleged allotment of an 8% share of Religare Finvest to REL Chairman Rashmi Saluja. Denying the claims, Religare enterprises stated that the information shared by the Burmans is misleading. The company emphasized that such misinformation impacts shareholder value. Key Points
Economic Times45-day payment rule to MSMEs: FinMin looking at a possible tweak
Concerns aired from multiple corners. A section of MSMEs worry that this may impact relations with suppliers and buyers, others say their systems are not ready for this provision. Key Points
Business TodayCCI approves stake buy in Religare enterprises by Burman family companies
The Competition Commission of India (CCI) has approved the proposals for stake acquisitions in Religare enterprises (REL) by four entities controlled by the Burman family members. These entities aim to acquire a majority shareholding of up to 53.94% in REL and collectively exercise joint control over the company. Key Points
Economic Times
CPSE purchases via GeM portal hit Rs 1.37 lakh crore, beat entire FY23 level: Finmin
As of December 6 this fiscal year, central public-sector enterprises (CPSEs) have procured goods and services amounting to Rs 1,36,607 crore from the Government e-Marketplace (GeM) portal, marking a nearly 28% increase from the previous fiscal. About one-third of these purchases, valued at Rs 46,013 crore, were made from micro, small, and medium enterprises. Key Points
Economic TimesParry enterprises ties up with Memsift Innovations to set up membrane unit
Parry enterprises India Ltd, (PEIL) has entered into a strategic partnership with Singapore-based Memsift Innovations to establish a facility to produce up to 1.2 million square metre of high-quality membranes annually. Key Points
The HinduPMEGP scheme’s step-by-step process for online applications, documents required; Check details
PMEGP Loan Scheme: Since the inception of PMEGP till March 13, 2023, over 8.58 lakhs enterprises were assisted, generating a total estimated employment of around 70 lakhs, with around Rs 21,509 crore disbursed as margin money subsidy. Key Points
FinancialexpressAdani Enterprises: 4 key reasons why Jefferies expects 17% upside for the stock post start of its copper unit
Adani enterprises share price are up 90% in last one year. The company entered new business, starting shipping from its copper unit recently Here are 4 key reasons why Jefferies sees 17% upside for the stock post start of the Copper unit. Key Points
mintNine states get nod for strategic investment plan for MSME units
The Centre provides funding support for SIPs under the Raising and Accelerating MSME Performance (RAMP) scheme, which is a World Bank-supported central sector scheme with an outlay of Rs 6,062 crore over five years from 2022-23 to 2026-27.The scheme focuses on issues relating to MSMEs such as financing, marketing and upgrading technology. It was launched to enhance the outreach of existing schemes of the ministry of micro, small and medium enterprises through active state participation, thereby improving the performance of MSMEs. Key Points
Economic Times
9 years of Modi government: 5 schemes for MSMEs launched after 2014 and their impact
Ease of Doing Business for MSMEs: At present, there are more than 1.85 crore enterprises with 11.71 crore employees registered on the Udyam Platform (along with the Udyam Assist portal), out of which 1.79 crore enterprises are in the micro category. Key Points
FinancialexpressMicro enterprises' share in total exports rises, drops for SMEs
Micro enterprises' exports grew to 6.63% in January, while small and medium enterprises' shares decreased. Top MSME export sectors are engineering goods, gems, garments, rice, and chemicals. Various factors affect exports, including freight costs and Western world economic challenges. Key Points
Economic TimesZee expands scope of advisory panel to include investigation assessment
New Delhi, Feb 27 (PTI) Zee Entertainment enterprises Ltd on Tuesday said its board has expanded the scope of independent advisory panel to include investigation assessment. The announcement by the company comes amid the ongoing probe by market regulator Sebi against its promoters for fund diversion. Last week, the company announced constituting of independent advisory […] Key Points
ThePrintBudget 2024: 'After PLI, jobs-linked schemes need of the hour'
Interim Budget: Experts suggest that the government should introduce employment-linked incentives in the upcoming interim budget to promote job creation and formalization. They recommend providing tax breaks or subsidies to small and medium-sized enterprises (SMEs) for hiring workers from marginalized communities to address social inequality. Key Points
Economic TimesAdani enterprises buys 30% in Trainman for Rs 3.5 crore
In a stock exchange filing on Saturday, Adani enterprises said Adani Digital Labs Pvt Ltd, a wholly-owned subsidiary of the company, has bought a 29.81 per cent stake in SEPL for Rs 3.56 crore. Key Points
Economic Times
Future enterprises insolvency: Jindal (India) emerges as the sole bidder for Kishore Biyani's company, says report
Kolkata-based Jindal's plan was the only one that was submitted to the creditors till last week, as per the report. November 10 was the last date to submit the resolution plans for Future enterprises Limited. Key Points
Business TodayET Explains: What is ASI, and what is its connection with GDP?
India swiftly recovered from the Covid-19 pandemic, with employment rising above pre-pandemic levels in 2021-22, according to the latest Annual Survey of Industries (ASI). Investment growth also picked up during this period. The ASI measures industrial statistics of registered manufacturing enterprises and provides data on gross value added, output, inputs, invested capital, net income, and profits. The 2021-22 results indicated a sharp recovery in employment, with 17.2 million people employed by enterprises during the fiscal year. The ASI data helps determine the industrial sector's contribution to GDP. Key Points
Economic TimesBurmans get CCI approval to buy stake in Religare
The Competition Commission of India approves the acquisition of a 5.27% stake in Religare enterprises by entities controlled by the Burman family, along with a subsequent open offer for an additional 26% stake. Key Points
mintDeepika Padukone turns 38: A look at how much money she makes
Padukone has been quietly building her business portfolio over the last few years. She set up her family office KA enterprises in 2014, and began investing in startups shortly after. Some of her key bets include Epigamia, Furlenco, Blu Smart, Bellatrix, Atomberg Technologies, Front Row, Mokobara, Supertails, Nua, and so on. Key Points
Business TodayIOC chairman SM Vaidya likely to get rare tenure extension
It's rare for a state-run enterprise chief to get an extension beyond the retirement age. In December 2022, the government appointed Arun Singh the chairman of ONGC. Singh had retired as BPCL chief just a few months earlier. Key Points
Economic Times
ZEE shares gain 2% despite posting Q4 loss; should you buy, sell or hold Zee Entertainment enterprises stock?
Zee's share price gained 2.1% intraday as analysts were positive on the stock. Despite the setbacks for Zee Entertainment Enterprises, a lot of analysts are issuing a 'buy' call on the scrip. Key Points
FinancialexpressIT hiring muted; keep upskilling, networking & keeping abreast of AI: Quess CEO
While the IT services segment is going through a muted hiring phase, there is a huge amount of captives that are expanding in India which are your GCC frameworks which continue to hire. They have not stopped. They are going maybe a little slow on the basis of budgets but they are still growing and they are expanding with newer captives coming in. Third, Indian enterprises are also joining the bandwagon and ramping up their digital capacity. The fourth segment is startups which again are a little muted. Key Points
Economic TimesModified PLI, export incentives in works for small & medium units
The idea is to significantly enhance the number of medium enterprises in the country, which currently constitutes a miniscule 0.01% of the total MSMEs in India, a senior government official told ET. He said the NITI Aayog is firming up a policy framework in this regard. The policy could cover medium units from sectors including engineering, electrical, chemical and pharmaceuticals. Key Points
Economic Times'Bid to block Religare acquisition': Burman family slams ‘false’ FIR linking Dabur group to Mahadev betting app case
The Dabur group denies receiving any formal communication regarding the FIR and calls it false and baseless. They believe the accusation was made to hinder their acquisition of Religare Enterprises. Key Points
mintMiffed by low offer, Religare orders valuation report
On 23 September, the Burman family offered to acquire an additional 5.27% stake in the financial services company for ₹407 crore, leading to a mandatory open offer. Key Points
mint
Adani enterprises Q2 Results: Cons profit plunges 51% YoY to Rs 228 crore, revenue down 41%
Sequentially, the fall in the bottomline was steeper at over 66%, and the topline dropped by more than 11%. While both the topline and bottomline saw a sharp fall in the quarter, the operational performance was good, with consolidated earnings before interest, taxes, depreciation and amortisation or EBITDA rising 30% YoY to Rs 2,430.29 crore. Key Points
Economic TimesMSME registration crosses the 2 crore registration milestone on Udyam
Ease of Doing Business for MSMEs: To date, the portal has registered 2.01 crore MSMEs, including 1.94 crore micro, 5.54 lakh small and approximately 52,000 medium enterprises. Key Points
FinancialexpressAdani enterprises Q4FY23 profit jumps 137% at Rs 722 cr, revenue at Rs 31,346 cr; dividend announced
Adani enterprises reported revenue from operations at Rs 31,346.05 crore, up 26.1 per cent on-year from the previous Rs 24,865.52 crore. Key Points
FinancialexpressJindal (India) to compete with Reliance Retail for Future enterprises acquisition, submits debt resolution plan: Report
Mukesh Ambani-controlled Reliance Retail is already in the race to acquire the company. Earlier, Reliance Retail had sought time till October 30 to take a call on its bid for Future Enterprises. Key Points
Business TodayExporters seek exemption from 45-day payment rule for supplies from MSEs
The new rule, Section 43B(h) of the Income Tax Act, introduced in the Finance Act 2023, is designed to make sure small businesses get paid on time. It allows companies to get tax breaks if they pay their small business suppliers within the time limits set by the MSMED (Micro, Small and Medium enterprises Development) Act, 2006. Key Points
Economic Times
Zee shares rally on reports of revival of merger talks with Sony
Not involved in any negotiations: Zee. Shares of Zee Entertainment enterprises Ltd (ZEEL), which had been receiving a battering in an overall bull market,... Key Points
The Tribune IndiaIndian businesses fear higher taxes over unsettled dues to small vendors as March 31 deadline inches close
Indian businesses are facing a higher tax outgo due to a new law that requires them to clear outstanding dues to small and micro vendors within 45 days. The law, passed in 2023 and unchanged in the 2024 budget, treats incurred expenditures as income on which tax must be paid for FY 24-25. Many businesses are consulting auditors and tax experts to estimate the extent of the impact and find ways to avoid a tax blow. Some small units are even considering surrendering their 'small and micro' registrations to protect their order books. Key Points
Economic TimesAdani flagship stock may return over 50%, Cantor Fitzgerald says
India Business News: Read about Cantor Fitzgerald's prediction of over 50% returns on Adani Group's flagship stock. Adani enterprises Ltd. plays a crucial role in India's economic ambitions. Find out more. Key Points
Times Of IndiaFY25 Capex target for CPSEs may rise by 12-13%
The Indian government is expected to increase the capital expenditure target for central public sector enterprises (CPSEs) in the fiscal year 2025 by 12-13%. The capital expenditure for 54 CPSEs and five departmental arms, including the Railway Board and National Highways Authority of India, is projected to be around ₹8.20-8.30 lakh crore for the upcoming fiscal year. Key Points
Economic TimesCentral public sector enterprises achieved 50% capex spending in first half of 2023-24
New Delhi [India], December 20 (ANI): Capital expenditure by central public sector enterprises are on track to meet its target for the year 2023-24, the Ministry of Finance said on Wednesday. During April-September, the first half of the fiscal year, 52 per cent of the Budgeted target has been achieved with a spending of 3.79 […] Key Points
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