News - The Purbottar

04 Mar

IEX trade volumes rise 9% in February | Indian Energy Exchange

editorBusiness, News

The Indian Energy Exchange (IEX) said in a statement on Monday that trade volumes in February registered a 9 per cent growth to 9,622 million units as compared to the same period last year. A total of 16.37 lakh renewable energy certificates were traded during the month, marking a 167 per cent year-on-year (y-o-y) growth. The next REC trading sessions at the exchange are scheduled for March 12 and 26. In the power market, the Day-Ahead Market (DAM) achieved 5,369 MU volumes in February as against 4,722 MU volumes in the same month last year, a 14 per cent growth…

03 Mar

Mahindra sales upgrade 15% in February

editorBusiness, News

Mahindra & Mahindra on Saturday said its total sales in February rose 15 per cent year-on-year to 83,702 units.The automaker had sold 72,923 units in February last year.In the utility vehicle segment, the company said it sold 50,420 vehicles in the domestic market, a growth of 19 per cent as compared to 42,401 units in February last year.Exports grew to 3,061 units last month, up 99 per cent from 1,539 units in February 2024. "This strong performance is a result of the continued positive momentum for our SUV portfolio," Mahindra & Mahindra (M&M) Automotive Division President Veejay Nakra said in…

01 Mar

Vodafone Idea gets GST demand order; stock downgrade over 3%, check full details

editorBusiness, News

Telecom operator Vodafone Idea (VIL) on Friday, February 28, said it has received a ₹16.73 crore Goods and Services Tax (GST) demand order from the Deputy Commissioner, Large Taxpayer Unit, West Bengal. The telco asserted it does not agree with the order and will take appropriate action for filing an appeal against the same. In a BSE filing on details of the order received by the company under the Central Goods and Services Tax Act, 2017, Vodafone Idea informed that the order was received on February 27, 2025. “Order passed under Section 73 of the Central Goods and Services Tax…

28 Feb

Sanofi India Q4 revenue, EBITDA rises; ₹117 final dividend recommended

editorBusiness, News

Sanofi India Limited (SIL) reported steady growth in Q4 2024, with revenue growing 9.7% year-on-year (YoY) to ₹514.9 crore, compared to ₹469.2 crore in the same quarter last year. EBITDA grew 18.8% year-on-year to ₹118.3 crore, from ₹99.6 crore. Operating margins also improved to 23%, compared to 21.2% in Q4 2023. However, the company's net profit declined 33.7% to ₹91.3 crore, from ₹137.7 crore a year ago. On the bright side, the board has recommended a final dividend of ₹117 per equity share of ₹10 face value, subject to shareholders' approval at the forthcoming Annual General Meeting. Sanofi India's recent…

27 Feb

Zomato shares will surge 39% as it builds on accelerated commerce leadership, says Bernstein

editorBusiness, News

Brokerage firm Bernstein on Tuesday, February 25, said it is positive on Zomato and has projected a 39.2% upside on the stock from its previous close price. The brokerage has given Zomato an "outperform" rating and a price target of ₹310 per share, slightly higher than its recent peak of ₹304, thereby marking a 27% downside to Monday's close price. Bernstein said the competitive intensity of instant commerce has been a major point of debate given the ongoing land grab and marketing dollars in Zomato and its peers Swiggy and Zepto. However, unlike the pre-IPO mode, the brokerage believes the…

25 Feb

Bharti Airtel shares upgrade 3% after 6-day decline on 5G partnership with Ericsson

editorBusiness, News

Bharti Airtel shares jumped nearly 3% on the NSE during intraday trade on February 25 to hit ₹1,649.15, snapping a six-day losing streak. The rally came after the telecom giant announced a partnership with Ericsson to deploy 5G core solutions that support its transition to a full-scale 5G standalone (SA) network over time.In an exchange filing, Airtel said, "This collaboration will enable Airtel to seamlessly transition to a commercially live, full-scale 5G standalone network, delivering high-end 5G capabilities to customers."The deal will see Ericsson deploy its signalling controller solutions as well as 5G standalone-enabled charging and policy solutions within Airtel's…

24 Feb

M&M shares inflation nearly 2% as Jefferies maintains ‘buy’ call, sees over 50% gain

editorBusiness, News

Shares of Mahindra & Mahindra surged in morning trade on February 24, recovering from a sharp 6 percent drop in the previous session to rise nearly 2 percent to Rs 2,712. The surge came after Jefferies reaffirmed its 'buy' rating, setting a target price that indicates significant upside from current levels. With a price target of Rs 4,075, the international brokerage estimates a staggering 52.6 percent upside potential from the last close of Rs 2,669 on the National Stock Exchange. M&M shares witnessed the biggest single-day fall in nearly 7 months during the previous session. Analysts at Jefferies view the…

22 Feb

JSW Infrastructure shares increase 9% after Motilal Oswal picks it as top pick in ports sector

editorBusiness, News

Shares of JSW Infrastructure jumped 9 percent to Rs 260 on February 21 afternoon. It has gained for the second consecutive session after domestic brokerage firm Motilal Oswal picked the stock as a 'top pick' in the ports sector. The brokerage has set a target price of Rs 330, which implies a 39 percent upside potential from its last close price of Rs 238 on the National Stock Exchange. JSW Infrastructure shares have gained 11 percent this week. India's ports sector handles 95 percent of the country's export volume and 70 percent of its export value, with Motilal Oswal forecasting…

21 Feb

Bandhan Bank shares surge 5% after CLSA upgrades stock; see latest target price

editorBusiness, News

Bandhan Bank shares surged 5% in early trade on Friday after global brokerage firm CLSA upgraded the stock to ‘High-Concept Outperform’, estimating a massive upside potential of 61%.CLSA sets a price target of Rs 220 for the stock, supported largely by the lender’s outperformance compared to peers in the current MFI (Micro Finance Institution) cycle. The MFI sector has been grappling with persistent challenges and constraints over the last five-six months, resulting in a significant deterioration in asset quality.Going forward, CLSA believes that the Indian microfinance sector will recover from bad to less bad in a few quarters and from…

19 Feb

Swiggy shares jump 7% during intraday

editorBusiness, News

Shares of foodtech giant Swiggy jumped nearly 7% to Rs 370.90 during the intraday trading session on the BSE today (February 19).The surge in its share price coincided with a surge in the broader market. The Sensex is up 0.068% at 76,018.91, while the Nifty is volatile and is trading 0.020% lower at 22,940.65 at 11:11 am.With the surge in Swiggy's share price, its market capitalisation reached Rs 83,576 crore at the time of writing and over 1 crore volumes had been traded by then.The stock has closed in the green in three of the last five sessions. Swiggy had…