News - The Purbottar

02 Oct

Royal Enfield sales growth 11% to 86,978 units in September

Priyanka RoyBusiness, News

New Delhi: Motorcycle maker Royal Enfield on Wednesday said its total wholesales grew 11 per cent year-on-year to 86,978 units in September.The company had dispatched 78,580 units in September 2023.Sales in the domestic market grew 7 per cent to 79,326 units from 74,261 units in the same period last year, Royal Enfield said in a statement.Exports rose from 4,319 units in September last year to 7,652 units last month.B Govindarajan, CEO, Royal Enfield said, “We have registered consistent growth in the month of September owing to our recent launches. The 2024 Classic 350 continues to solidify its iconic status and…

01 Oct

Adani Airports to inflation Rs 1,950 crore via NCDs

Priyanka RoyBusiness, News

Mumbai Adani Airport Holdings is raising Rs 1,950 crore through non-convertible debentures (NCDs) with the primary objective of providing inter-company loans to various airports, including Ahmedabad, Lucknow, Mangalore, Jaipur, Guwahati and Thiruvananthapuram.The NCDs with a coupon rate of 9.35% per annum will primarily cover payments made to the Airports Authority of India relating to prior period regulatory assets approved by the Airports Economic Regulatory Authority of India (AERA).The NCDs have received A+/Stable rating from both India Ratings and Crisil Ratings. Axis Bank and Trust Investment Advisors Pvt are the organisers of the issue which will open on September 30, 2024…

30 Sep

Ola Electric shares decline 4%; drops below Rs 100 for first time since listing

Priyanka RoyBusiness, News

Shares of Ola Electric Mobility declined over 4 per cent on September 30, pushing the stock below the Rs 100 mark for the first time since its listing on the bourses. Moreover, the stock has been in the red in 12 of the last 14 sessions.According to this, it has fallen by more than 16 percent in the last one month. At 12.22 pm, Ola Electric Mobility shares were trading at Rs 98.80 on NSE.The company recently launched its 'Network Partner Program' to expand EV penetration in tier-2 and tier-3 cities. Ola Electric has already onboarded 625 partners to expand…

28 Sep

PNB increase Rs 5,000 crore through QIP issue

Priyanka RoyBusiness, News

New Delhi: Public sector Punjab National Bank (PNB) has raised Rs 5,000 crore by issuing equity shares to qualified institutional investors.PNB said in a statement that, The bank allotted around 48.19 crore equity shares at an issue price of Rs 103.75 per share, which was at a discount of 4.96 percent to the floor price of Rs 109.16 per share.The bank said its QIP issue is open for subscription from September 23 to 26, 2024.The bank said that "The Bank received bids of Rs 41,734 crore for the QIP issue from qualified institutional buyers (QIBs), including mutual funds, foreign portfolio…

27 Sep

Sugar companies’ stocks inflation to 8% on expectations of hike in MSP and rise in ethanol prices; Shree Renuka and Balrampur Sugar gain the most

Priyanka RoyBusiness, News

Sugar stocks jumped significantly in intraday trading on Friday, September 27, following remarks by Indian Food Minister Pralhad Joshi. On Thursday, Joshi indicated that the government was considering raising ethanol prices for the 2024-25 season, as well as reviewing the minimum selling price of sugar and sugar exports for the same period.The minister said a committee of secretaries is currently discussing the proposal to increase the minimum selling price of sugar."We are optimistic about sugar production for the 2024-25 season starting in October," Joshi told reporters on the sidelines of the India Sugar and Bio-Energy Conference organised by the Indian…

26 Sep

Edible oil prices increment by 5-10 percent, may increase further

Priyanka RoyBusiness, News

Following the recent hike in import duty on crude oil and refined oil, consumers have started feeling the impact of inflation in key kitchen items like edible oil.According to the price monitoring cell of the consumer affairs department, the model or benchmark retail price of mustard, sunflower and palm oil, commonly used in Indian kitchens, rose to Rs 148 per litre, Rs 129 per litre and Rs 110 per litre on Tuesday from Rs 140, Rs 120 and Rs 100 per litre, respectively, on September 13. This is an increase of 5-10% since the duty hike was announced 12 days…

25 Sep

Ola Electric shares grow 3%, Bernstein highlights strong growth prospects

Priyanka RoyBusiness, News

Shares of Ola Electric Mobility rallied over 3 per cent to Rs 107.5 in morning trade on September 25 after international brokerage firm Bernstein suggested that the company is extending its lead in the electric two-wheeler (EV 2W) segment and outpacing rivals in profitability.The report shows that Ola Electric not only boasts the highest gross margins among its competitors but is also inching closer to EBITDA level profitability, underlining the strong growth momentum of the company.Ola Electric has significantly improved its path to profitability, reporting an EBITDA margin of -2 per cent, outperforming rivals such as TVS (-7.9 per cent),…

24 Sep

Home loan disbursements lapse 9% in June quarter: Report

Priyanka RoyBusiness, News

Home loan originations declined 9 per cent in the June quarter, according to a report released on Monday.Credit information company TransUnion CIBIL said in a report that home loan volumes in value terms were at par with the same period a year ago.The report said outstanding amounts on home loans grew by only 14 per cent during the quarter, making it the slowest growth among all categories that constitute retail loans.Interestingly, the decline in principal volumes and sluggish growth in outstanding balances have come at a time when the incidence of loan defaults has declined during the quarter, the report…

23 Sep

Gold prices gain due to improvement in rural areas and strong demand due to festive season: World Gold Council

Priyanka RoyBusiness, News

New Delhi: According to the latest report of the World Gold Council, gold prices are witnessing a strong surge in both international and domestic markets, and jewellery buying and investment activities are expected to continue.Especially rural demand is showing signs of improvement. This year, due to better monsoon and higher crop sowing, the rural economic situation is expected to be strong, which is expected to increase gold purchases during the festivals.The report pointed out that gold prices continued to strengthen in September. International gold prices rose by 2.8 percent, while domestic prices rose by 1.6 percent in the same period.…

21 Sep

Housing sales may downturn 18% in September quarter

Priyanka RoyBusiness, News

New Delhi: Home sales across nine major cities are estimated to have declined 18% during the July-September quarter to 1,04,393 units on a high base, according to data from PropEquity. Real estate data analytics firm PropEquity on Friday released home sales data across nine major cities.Sales during the same period last year stood at 1,26,848 units.According to the data, only Delhi NCR (22%) and Navi Mumbai (4%) are expected to witness an increase in housing sales during the July-September period this year.Sales are expected to decline in the other seven cities, with Hyderabad reporting the highest drop of 42%, followed…