Business - The Purbottar

28 Nov

Shangar Decor’s ₹49.35 crore rights issue to close on December 6

Business BureauBusiness

Ahmedabad-based Shangar Decor Limited (BSE–540259) has announced that its ₹49.35 crore rights issue, offering equity shares at ₹5.76 each, is set to close on December 6, 2024. The issue opened on November 8, 2024, with a rights entitlement ratio of 7:1, allowing eligible shareholders to receive seven equity shares for every share held as of October 28, 2024. The last date for on-market renunciation of rights entitlements is November 29, 2024. The company, known for its expertise in decor services for events like weddings, corporate functions, and exhibitions, plans to utilize ₹37.81 crore of the proceeds for working capital needs.…

27 Nov

Bank of India completes Rs 5,000 crore bond sale, stocks expansion

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Bank of India stock closed 3.48% higher at Rs 111.90 on the BSE. The bank's market cap stood at Rs 50,762 crore. Bank of India shares surged after the lender said it has issued long term bonds (infrastructure) worth Rs 5,000 crore on a private placement basis. Bank of India stock closed 3.48% higher at Rs 111.90 on the BSE. The bank's market cap stood at Rs 50,762 crore. A total of 4.87 lakh shares were traded on the BSE, generating a turnover of Rs 5.33 crore. The stock is neither trading in the overbought nor in the oversold zone,…

27 Nov

Raghavendra Rathore Jodhpur launches ‘Shimmer Reimagined for Men’ collection

Business BureauBusiness

Renowned designer Raghavendra Rathore Jodhpur steps into a new chapter of men’s fashion with the launch of Shimmer Reimagined for Men, a collection that blends modern luxury with timeless craftsmanship. This collection comes in the wake of the extravagant Anant and Radhika wedding, which set new benchmarks for opulent celebrations, fueling a surge in demand for elevated fashion—even for intimate events. Drawing from the brand’s recent collaboration with global icon Diljit Dosanjh, who sported bespoke satin ensembles on his international tour, the collection introduces shimmering textures paired with classic tailoring. The bold yet elegant designs aim to reshape men’s perceptions…

26 Nov

Swiggy shares upgrade 6% after UBS initiates coverage, analysts expect up to 26% surge

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Shares of Swiggy Ltd, a leading player in food delivery and instant commerce, jumped 6 per cent to Rs 456 in morning trade on November 26, after UBS initiated coverage with a 'buy' rating. The brokerage highlighted Swiggy's strong growth prospects and set a target price of Rs 515, implying a potential upside of about 27 per cent from current levels. UBS pointed out that Swiggy is well positioned for growth, currently trading at a 35 per cent discount to Zomato.The stock rose 6.2 per cent to Rs 458 compared to its previous close of Rs 431.25 on the BSE,…

26 Nov

Quality Drives Rising Milk Consumption in India: Godrej Jersey

Business BureauBusiness

More than half of Indian (54%) consumers ranked quality of milk as a top priority while purchasing milk. Leading to the National Milk Day on November 26, Godrej Jersey’s Milk Report also revealed that Indians are ready to increase milk consumption if they are assured of milk quality and safety. Titled‘Bottoms Up…India Says Cheers to Milk!’ the comprehensive studycovering consumer responses from Delhi, Lucknow, Mumbai, Pune, Hyderabad, Chennai, Bangalore, and Kolkata, provides valuable insights into evolving consumer preferences and industry trends. Beyond quality considerations, the report highlights shifting consumer awareness and expectations in the dairy sector, serving as a crucial…

26 Nov

Vi’s Network Expansion Achieves Milestone of 100 Towers Every Hour, Strengthening Connectivity Across India

Business BureauBusiness

Leading telco Vi has announced a significant milestone as part of its latest ‘Be Someone’s We’ campaign: the completion of its ambitious goal of ‘100 towers every hour’ as part of its ongoing network expansion across India. Post the successful FPO earlier this year, the company has been rapidly expanding its network, rolling out new infrastructure, and has achieved a remarkable milestone of adding 100 towers every hour. With this Vi’s ‘Be Someone’s We’ campaign, which emphasises the importance of fostering connections and coming together in support of others, takes on a new meaning by extending it to Being Someone’s…

26 Nov

Sharp partners with Rohit Refrigeration to expand presence in Eastern India

Business BureauBusiness

Sharp Corporation, a global leader in advanced appliances and consumer electronics, has joined hands with Rohit Refrigeration to strengthen its footprint across eastern and northeastern India. The partnership aims to address the growing demand for Sharp's premium appliances by leveraging Rohit Refrigeration's robust distribution network, which spans over 1,000 retail outlets in the region. Highlighting the significance of the collaboration, Mr. Osamu Narita, Managing Director of SHARP Business Systems India, stated, "India is a vital market for Sharp, and this partnership aligns with our vision to make cutting-edge technology accessible to households in these key regions." Kolkata is set to…

26 Nov

Ekart’s 8X growth in supply chain monetization drives change in India’s logistics landscape

Business BureauBusiness

Ekart, a prominent player in India's 4PL logistics industry, has achieved remarkable 8X growth in supply chain monetization over the last three years. The company’s expansive logistics network covers 98% of Indian postal codes, with a daily capacity exceeding 6 million shipments, supported by over 50 million cubic feet of warehousing and a fleet of 7,000 trucks. Ekart’s diversified offerings, including last-mile deliveries, PTL/FTL movements, and document delivery for financial institutions, have driven efficiency and scalability for brands across India. In the highly competitive logistics market, Ekart’s innovations have helped e-commerce giants like Snapdeal and HomeCentre navigate peak demand seasons…

26 Nov

Byatikram MASDO hosts successful Third Edition of Byatikram International Writers Meet 2024 in Guwahati

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The Byatikram International Writers Meet 2024 concluded successfully in Guwahati from November 22 to 25, bringing together celebrated writers from around the world. Organized by Byatikram MASDO, the event fostered intellectual exchange and celebrated global literary achievements. The event featured an impressive roster of international writers, including Tendo Taijin from Japan, Alexandra Nicod from Switzerland, MiodragJaksic from Serbia, and Jorge Contreras Herrera from Mexico, among others. Renowned Indian authors such as Dr. Reshma Ramesh and Ashok Chakraborty also participated. The inaugural session, held at Aurus Mall in Dispur, was graced by notable dignitaries, including Dr. Rita Chowdhury and Shankar LallGoenka,…

25 Nov

NTPC shares increase 3% on Bernstein’s ‘outperform’ call; sees 20% rally

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NTPC shares rose 3 per cent in morning trade on November 25 to hit Rs 377, continuing its gains for the second consecutive trading session after Bernstein maintained an 'outperform' rating on the company and raised the target price.With a target price of Rs 440, the international brokerage forecasts a 20.5 per cent upside from current market levels, citing strong power demand, lack of evening hours and the company's debt-cost advantage as key drivers.While analysts do not see any significant upside beyond these factors, they are also not expecting downside risk. NTPC shares are currently valued at 16 times FY25…