editor - The Purbottar

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…

05 Dec

Funding by MFs to NBFCs gain nearly 47% to Rs 2.33 trillion in October 2024

editorBusiness, News

Funding raised by non-banking financial companies (NBFCs) from mutual funds (MFs) grew nearly 47 percent year-on-year (Y-o-Y) to Rs 2.33 trillion in October 2024. Sequentially, funding support by MFs to NBFCs increased by 0.3 percent compared to September, according to CARE Ratings. Mutual funds (MFs) credit exposure to NBFCs, which includes commercial paper (CP) and corporate debt, has remained above Rs two trillion for more than half a year now. Moreover, CP has remained above the one trillion mark for almost a year, currently at Rs 1.22 trillion. Banks' credit exposure to NBFCs stood at Rs 15.4 trillion in October…

04 Dec

Tata Power shares upgrade 4%, brokerages retain ‘buy’ rating after Q2 results

editorBusiness, News

Shares of Tata Power surged over 4 percent following the release of its Q2FY25 results, with several brokerages reaffirming their 'buy' ratings.Elara Securities said 'buy' while raising its target price on the stock from Rs 463 to Rs 518 and upgrading its rating from 'accumulate'.Other brokerages including Motilal Oswal Financial Services, JM Financial and Nomura also retained their 'buy' ratings.Morgan Stanley also expressed optimism and maintained an 'highweight' rating on Tata Power and set a higher target price of Rs 577.In contrast, Nuvama expressed a cautious outlook citing high valuations and retained its 'reduce' rating on the stock. Similarly, Jefferies…

03 Dec

Guwahati Police recovers Rs 90,837 in digital arrest scam case

editorAssam

The victim of a clever "digital arrest" scam has had Rs 90,837 returned to their account by a squad from the Guwahati Cyber Police Station. Previously, the victim had lost an incredible Rs 48,40,844 due to the bogus scheme. The scam, which is well-known for its complex strategies, tricks people into thinking the government is investigating them and demands money in the name of settling purported legal disputes. Cybercriminals who pose as law enforcement officers and trick victims into thinking they have committed a major crime and are required to remain visible online until their demands are fulfilled to extort…

03 Dec

Tata Motors total sales jump marginally to 74,753 units in November

editorBusiness, News

Tata Motors Limited on Sunday said total sales in November rose marginally to 74,753 units as against 74,172 units in the same month last year. Tata Motors said in a statement that total domestic sales last month rose 1 per cent to 73,246 units as against 72,647 units in November 2023. The company said total passenger vehicle (PV) sales, including EVs, stood at 47,117 units as against 46,143 units in the same month a year ago, up 2 per cent. Similarly, domestic PV sales, including EVs, rose 2 per cent to 47,063 units as against 46,068 units in November 2023.…

02 Dec

Maruti Suzuki sales increase 10% in November; Hyundai sales fall 7%, Tata Motors sales rise marginally

editorBusiness, News

Maruti Suzuki India on Sunday reported that its total sales in November grew 10 percent year-on-year to 1,81,531 units. The automaker had dispatched 1,64,439 units to its dealers in November last year. Total domestic passenger vehicle wholesales stood at 1,41,312 units as against 1,34,158 units in the same month a year ago, a growth of 5 percent. Sales of mini segment cars, including Alto and S-Presso, stood at 9,750 units as against 9,959 units in November 2023. Sales of compact cars including Baleno, Celerio, Dzire, Ignis, Swift, Tour S and WagonR declined to 61,373 units as against 64,679 units in…

29 Nov

Sikkim begins final expedition to assess high-risk glacier areas

editorSikkim

In order to evaluate high-risk glacial lakes in the high-altitude regions of the province, the Sikkim government embarked on its last expedition of the year. The goal of the fourth expedition is to address climate-induced threats by developing viable glacier flood prevention methods. According to the statement, the expedition team will conduct a lake discharge investigation, subsurface geophysical study, topographical mapping, debri deposition analysis, and flood level observations between November 27 and December 5. A thorough evaluation of a number of high-risk lakes was finished on previous missions. Photographs, water level data, and daily meteorological data are now being provided…