News

06 Dec

IGL shares increase over 3% on bonus issue plan

Priyanka RoyBusiness, 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…

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05 Dec

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

Priyanka RoyBusiness, 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…

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04 Dec

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

Priyanka RoyBusiness, 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…

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03 Dec

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

Priyanka RoyBusiness, 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.…

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02 Dec

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

Priyanka RoyBusiness, 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…

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29 Nov

NTPC Green shares upgrade on solar project news

Priyanka RoyBusiness, News

Shares of recently listed NTPC Green Energy gained 4% during today's session to hit Rs 127.55 on the BSE after the company announced successful commissioning of the first phase of the 105 MW Shajapur Solar Project having a capacity of 55 MW. In accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that, after successful commissioning, NTPC Renewable Energy Limited, a wholly owned subsidiary of NTPC Green Energy Limited, has announced the first tranche capacity of 55 MW out of the 105 MW Shajapur Solar Project (Unit-I) at Shajapur, Madhya…

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28 Nov

Centre reports 312% increase in fake ₹500 notes, 166% rise in ₹2,000 notes over past 5 years

Priyanka RoyNews

New Delhi:The Centre has reported a huge increase in the number of counterfeit notes over the past five years. The number of fake ₹500 notes has risen by 312%, while the number of fake ₹2,000 notes has increased by 166%, according to figures from the Ministry of Finance. This information was provided by Minister of State for Finance Pankaj Chaudhary in response to a question from DMK MP T M Selvaganapathy. However, the Centre also reported a 15% decrease in fake ₹500 notes in the 2024 fiscal year. The number of counterfeit ₹500 notes had increased by 102% in the…

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27 Nov

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

Priyanka RoyBusiness, News

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,…

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26 Nov

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

Priyanka RoyBusiness, News

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,…

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25 Nov

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

Priyanka RoyBusiness, News

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…

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