editor - The Purbottar

14 Dec

Gold, silver prices lapse as jewellers sell off

editorBusiness, News

New Delhi: Gold and silver prices fell in the national capital on Friday, with the precious metal sliding below the Rs 80,000 mark amid heavy selling by jewellers and stockists, according to the All India Sarafa Association. Besides, traders said a weak trend in international markets also put heavy pressure on bullion prices. The precious metal of 99.9 per cent purity fell by Rs 1,400 to Rs 79,500 per 10 gram. It had closed at Rs 80,900 per 10 gram in the previous session. Silver fell by Rs 4,200 to Rs 92,800 per kg, its biggest fall in the month…

13 Dec

Vodafone Idea share price increase 5% from intraday low; can it rise further?

editorBusiness, News

Vodafone Idea share price witnessed a sharp surge during intraday trading on Friday, December 13, rising as much as 5 per cent from an intraday low of ₹7.68 despite a volatile market environment. Vodafone Idea share price opened at ₹7.83 against its previous close of ₹7.87 and fell over 2 per cent to hit ₹7.68 levels. However, the telecom stock recovered sharply and touched ₹8.07 levels. Around 1 pm, the stock was trading 2.4 per cent higher at ₹8.06. Vodafone Idea NewsVodafone Idea shares surged after the company revealed details of an investor presentation that highlighted four key strategies for…

12 Dec

Credit card defaults have upgrade by 110 basis points, the study said

editorBusiness, News

RBI data shows that the number of credit cards issued by banks has also increased sharply to 10.61 crore by September 2024 from 9.3 crore in September 2023, 7.36 crore in March 2022 and 6.20 crore in March 2021.Credit card repayment defaults are on the rise, reflecting growing stress and debt burden among customers. Credit card repayment defaults or portfolio risk (PAR) in banking parlance for credit cards with 91-180 days past due (DPD) have increased by 110 basis points to 7.6 per cent by June 2024 from 6.5 per cent in June 2023, a study said.This means that defaults…

11 Dec

Cement prices may increase by 4%, which is good news for the sector

editorBusiness, News

According to CLSA, the Indian cement sector may see a price increase of 4% in the second half of FY25 and this will be good news for companies that have been affected by low prices across India for the last several quarters. However, the sustainability of these price increases remains a key monitorable factor, according to the brokerage. Cement prices increased by Rs 10-30 per bag in early December. The increase was the highest in the eastern and central regions of India at Rs 20-30 per bag, while the rest of the regions saw an increase of Rs 10.This means…

10 Dec

Retail vehicle sales increase 11.2 percent in November

editorBusiness, News

According to data compiled by the Federation of Automobile Dealers Association, retail sales of vehicles across categories in India rose 11.21 percent to 32,08,719 units in November as against 28,85,317 units in the same month last year. Retail sales of two-wheelers rose to 26,15,953 units in November as against 22,58,970 units in the same month last year. This shows a robust growth of 15.8 percent.

09 Dec

Oil prices upgrade as China eases monetary policy to boost economic growth

editorBusiness, News

Oil prices rose more than 1% on Monday, as top importer China took its first step toward easing monetary policy for the first time since 2010 to boost economic growth, state media reported, citing a politburo meeting. Brent crude futures rose $1, or 1.4%, to $72.12 a barrel at 1356 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.09, or 1.6%, to $68.29. "Oil prices are likely to jump as monetary policy easing in China has boosted risk sentiment," said UBS analyst Giovanni Stauno. China's growth has stalled, as a slowdown in the property market has hit confidence and…

07 Dec

SBI has projected GDP increase at 6.3%, lower than RBI’s 6.6% estimate for FY25

editorBusiness, News

The State Bank of India (SBI) has projected that India's gross domestic product (GDP) will grow at 6.3% during the current financial year (FY25), lower than the Reserve Bank of India's (RBI) forecast of 6.6%, which was revised upward from 7.2% earlier. "We believe GDP growth for FY25 will be lower than the RBI forecast and are pegging it at 6.3%," SBI said. On Friday, RBI governor Shaktikanta Das announced the central bank's revised estimate for GDP growth. This came after the country's economy grew at 5.4% in the July-September quarter of FY25, the lowest growth in seven quarters. This…

06 Dec

IGL shares increase over 3% on bonus issue plan

editorBusiness, News

IGL share price jumped nearly 4 per cent in mid-day trade on December 5 after the city gas distributor announced that the board will consider a proposal to issue bonus shares on December 10. "It is notified that the Board of Directors is scheduled to meet on December 10, 2024 to consider a proposal to issue bonus shares in the prescribed proportion to the equity shareholders of the company, subject to the approval of the shareholders," a statement issued by the company on December 4 said. The company has not announced the bonus ratio and is likely to announce it…

06 Dec

Sikkim Democratic Front president wary over reliability of EVMs, demands probe

editorSikkim

During the recent 2024 state assembly elections, Pawan Chamling, the former chief minister and president of the Sikkim Democratic Front, expressed doubts about the accuracy of electronic voting machines. Chamling asserted that possible voting machine manipulation was the reason behind the Sikkim Democratic Party's defeat. Chamling drew a contrast with other nations, pointing out that Japan chose paper ballots over electronic voting machines because of doubts about their dependability. He also brought out the persistent mistrust of EVMs in nations like India and Russia. "There are many experts and scientists in India who claim that voting machines can be hacked…

06 Dec

Rotary Club of Siliguri Metropolitan celebrates Advocate’s Day

editorBusiness

The Rotary Club of Siliguri Metropolitan marked a momentous occasion on 5th December 2024 as it celebrated Advocate's Day during its 8th fortnightly meeting, hosted at the Highland Hotel. The gathering was a heartfelt tribute to the club's distinguished advocate members, recognizing their valuable contributions to the legal profession and the community. The ceremony was a blend of respect and appreciation, with members Rtn. Lalit Kumar Agarwal, Rtn. Vipul Kr. Sharma, Rtn. Rajesh Kumar Agarwal, and others being honored for their unwavering commitment. The club celebrated their service with a traditional Khada draping ceremony, the presentation of Appreciation Certificates, and…