Priyanka Roy

India's foreign exchange reserves have declined in 12 of the last 13 weeks, hitting a multi-month lowIndia's foreign exchange reserves continue to decline, continuing a three-month long decline. In the week ended December 27, the country's foreign exchange reserves fell by $4.112 billion to $640.279 billion, data from the Reserve Bank of India (RBI) showed.India's foreign exchange reserves have declined in 12 of the last 13 weeks, hitting a multi-month low.The reserves have been declining ever since they touched an all-time high of $704.89 billion in September. Effectively, it is now down by about 10 per cent from the peak.The…

Shares of Indraprastha Gas Ltd (IGL), Mahanagar Gas Ltd (MGL) jumped up to 2.5% on January 3 after the oil ministry asked GAIL and ONGC to give 0.6 mmscmd gas to city gas firms. The circular said gas from new wells and oil-associated gas will not be auctioned but will be allocated proportionately to companies based on volume. The move will reduce city gas distribution firms' dependence on gas from the spot market. IGL will get the highest allocation due to its higher market share. At 10:30 am on January 3, IGL shares were trading 2.5% higher at Rs 437…

Capital Small Finance Bank Limited (CSFB) has recorded a 12% year-on-year (YoY) growth in total deposits for the quarter ended December 31, 2024, reaching ₹8,384 crore. This growth is also accompanied by significant progress in loan disbursements, improved asset quality and strong liquidity metrics. Loan advances up 19.2%: The Bank's gross advances reached ₹6,816 crore, registering a growth of 19.2% year-on-year (YoY). Around 99.8% of the portfolio remains secured. Asset quality remains strong: CSFB demonstrated improved asset quality, with the gross non-performing asset (NPA) ratio declining to 2.67% from 2.97% in the same quarter last year. Deposits grew to ₹8,384…

Shares of Royal Enfield maker Eicher Motors rose over 6% on January 2 after the company reported a 25% rise in motorcycle sales in December. In a stock exchange filing, the company said its total motorcycle sales rose 25% to 79,466 units in December as against 63,387 units in the same period a year ago.  The company's international business also performed better, rising 90% to 11,575 units. At 11:50 am on January 2, Eicher Motors shares were trading over 6% higher at Rs 5,199.5 per share. The stock has a market capitalisation of Rs 1.43 lakh crore.  B Govindarajan, CEO,…

Shares of Rail Vikas Nigam Limited rallied nearly eight per cent in the morning session on the last trading day of 2024. The railway firm was declared the lowest bidder for the two projects. As a result, RVNL shares snapped a nine-session losing streak.  At 11.50 am, the stock was at Rs 427.4 on the NSE, up 4.7 percent from its previous session closing price. First, RVNL won a Rs 137-crore project from the Central Railway. RVNL has 24 months to complete the project.  The railway firm will undertake design, supply, construction, testing and commissioning of 132/55 kV traction substations,…

Vodafone Idea shares surged over 5 per cent on December 30 as government waives bank guarantees for previous spectrum auctions. At 11:10 am on December 30, Vodafone Idea shares were trading at Rs 7.88. The telecom firm has been exempted from providing bank guarantees of Rs 24,800 crore for spectrum auctions held before 2021 (2012, 2014, 2015, 2016). In a filing dated December 28, the company termed the government reform as a "major relief for telcos". The company said that prior to this reform, the company was required to provide bank guarantees totalling Rs 24,800 crore for each spectrum instalment…

JERSEY - Jersey Electricity plc has announced its financial results for the year ended September 30, 2024, reporting an 8.5% increase in revenue to £135.7 million. The company, which has been a major player in the island's energy sector for a century, recorded a profit before tax of £15.1 million, a slight improvement on the previous year's £14.9 million. The Board recommended a final dividend of 12.00p per share for the year, an increase of 5.3% from the 2023 dividend. This, combined with the interim dividend, brings the total dividend for the year to 19.80p per share. The final dividend…

New Delhi, December 27: Aluminium prices rose by 25 paise to Rs 241.65 per kg in the futures market on Friday due to fresh deals by speculators amid positive trend in the spot market. The price of aluminium contract for January delivery rose by 25 paise or 0.1 per cent to Rs 241.65 per kg in Multi Commodity Exchange in which 3,245 lots were traded. Analysts said that fresh deals by traders amid demand from consumer industries supported aluminium prices in the futures market.

India's smartphone exports are set to cross Rs 1.70 lakh crore in the current fiscal - up 31% from Rs 1.29 lakh crore in FY24. Nearly 70% of shipments are of iPhones. Products from Samsung and domestic contract manufacturer Padget Electronics (Dixon) and a small amount of merchandise exports make up the remaining 30%. According to industry sources, smartphone exports reached Rs 1.10 lakh crore in the April-November period, up 45% from the export figure of Rs 76,221 crore in the same period in FY24. In November, monthly exports were Rs 20,000 crore, the highest ever. Apple's iPhone vendor Foxconn,…

NAVI MUMBAI: Onion prices, which have become a burden on consumers' pockets, have fallen sharply by about 50% in the last week. This is due to the arrival of new crop and the imposition of duty on export. Vegetable traders said that as more fresh stock reaches the market, prices will fall further. Wholesale prices at the Vashi APMC (Agricultural Produce Market Committee) market, which supplies the Mumbai Metropolitan Region, have come down from ₹45-50 per kg last week to ₹20-25 per kg on Friday. Traders said that prices in the retail market have come down from ₹80-90 per kg…