News - The Purbottar

22 Apr

Hyundai SUV sales jump: 68.5% in FY25

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New Delhi, Hyundai Motor India on Monday said SUVs accounted for 68.5 percent of its total sales last fiscal, marking a growth of 8 percent over FY23-24.The company expects the contribution of SUVs to cross 70 percent in a year.In FY25, the automaker reported sales of 7,62,052 units as against 7,77,876 units in FY24.Its domestic sales stood at 5,98,666 units in the last fiscal, while export shipments stood at 1,63,386 units.Hyundai said it has witnessed a significant shift in customer preference, with penetration of sunroof-equipped vehicles rising to 53 percent, underlining a growing preference for premium features."FY 2024-25 has been…

21 Apr

Jan Dhan deposits increase to Rs 2.63 lakh crore

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As of April 9, 2025, deposits in Pradhan Mantri Jan Dhan Yojana (PMJDY) bank accounts rose to Rs 2.63 lakh crore, an all-time high. It also shows that the average cash deposit per account was at an all-time high of Rs 4,760.Overall there are 552.8 million PMJDY accounts, with a total of 379.8 million RuPay debit cards issued. The total balance in these accounts is Rs 2,63,145 crore, as against Rs 2,34,997 crore a year ago.Though it was estimated that these accounts were opened primarily to receive government benefits, these accounts have been a major source of low-cost funds for…

19 Apr

ICICI Bank Q4 Results Preview: Net profit upsurge over 10% on loan growth, NII growth seen at 9%

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ICICI Bank Q4 Results Preview: ICICI Bank will announce its January-March quarter results for the financial year 2024-25 (Q4FY25) on Saturday, April 19, 2025, after performing well in the previous quarter due to better asset quality and loan growth. Most D-Street analysts and domestic brokerages forecast a decent and steady growth in Q4FY25 for India’s second-largest lender by market capitalisation, driven by loan growth and deposits. An average brokerage estimate indicates that ICICI Bank’s net profit is likely to grow 10-12 percent in the March quarter, while net interest income (NII) growth is estimated to be over nine percent. Net…

18 Apr

Gold imports surge 192% in March amid record prices

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According to Commerce Ministry data, India's gold imports in March 2025 rose 192.13 percent year-on-year to USD 4.47 billion, reversing the previous trend of negative growth.This sharp jump is mainly attributed to the significant increase in gold prices and investors' renewed interest in the yellow metal as a safe-haven. Gold imports stood at USD 1.53 billion in January 2024, showing a sharp jump over the last two months. On a full-year basis, gold inbound shipments grew 27.27 percent to USD 58 billion in 2024-25 from USD 45.54 billion in the previous fiscal.The rise in demand reflects investors' growing preference for…

17 Apr

Gold futures hit record high of Rs 94,781 per 10 grams

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New Delhi, Gold prices hit an all-time high of Rs 94,781 per 10 grams in futures trade on Wednesday in line with a strong global trend.On the Multi Commodity Exchange, contracts for June delivery hit a record high of Rs 94,781 per 10 grams in early trade.Later, the gains narrowed by Rs 1,317 or 1.41 percent to Rs 94,768 per 10 grams, with an open interest of 21,211 lots.Analysts say the ongoing US-China trade war has fuelled safe-haven demand."The dollar remained under pressure and was trading near a two-year low, which further fuelled the rally in gold," said Rahul Kalantri,…

16 Apr

Vedanta shares jump 3% after talks with Assam CM on Rs 50,000 crore investment plan

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Shares of mining major Vedanta jumped over 3 per cent on April 15, a day after Assam Chief Minister Himanta Biswa Sarma held talks with the company to draw up a detailed plan for the group's Rs 50,000 crore investment in the state.Speaking at the Advantage Assam Summit in February, Vedanta Group Chairman Anil Agarwal had said the group would invest Rs 50,000 crore in the oil and gas sector of Assam and Tripura in the next 3-4 years.Assam Chief Minister Himanta Biswa Sarma took to Twitter to share an update and said, "In Advantage Assam 2, we received investment…

14 Apr

UPI transactions rise to 18.3 billion in March

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India's Unified Payments Interface (UPI) recorded a robust 13.6 percent growth in transaction volumes in March, hitting a new peak of 18.30 billion transactions, according to the latest data released by the National Payments Corporation of India (NPCI). While the top five UPI apps - PhonePe, Google Pay, Paytm, Navi and Super.money - retained their rankings, Axis Bank moved to the sixth spot, overtaking fintech unicorn CRED, which slipped to the seventh spot. This shift follows a similar pattern seen in February, when Super.money displaced CRED to enter the top five. In March, Axis Bank's growth was driven by a…

12 Apr

India’s vegetable oil imports fall 16% in March

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New Delhi, India's vegetable oil imports fell 16 percent to 9.98 lakh tonnes in March due to a sharp drop in crude sunflower oil shipments, according to industry data.In a statement on Friday, the Solvent Extractors Association of India (SEA) said imports of vegetable oils (edible and non-edible) declined to 9,98,344 tonnes in March 2025 from 11,82,152 tonnes in the same month last year.Edible oil imports declined to 9,70,602 tonnes in March 2025 from 11,49,681 tonnes in the same period a year ago. Imports of crude sunflower oil declined to 1,90,645 tonnes last month from 4,45,723 tonnes in March 2024.Arrivals…

11 Apr

Silver futures rise by Rs 1,216 to Rs 92,811 per kg

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New Delhi, Apr 11: Silver prices rose by Rs 1,216 to Rs 92,811 per kg in futures trade on Friday as participants increased their bets.Silver contracts for May delivery on the Multi Commodity Exchange rose by Rs 1,216, or 1.33 percent, to Rs 92,811 per kg in a business turnover of 19,617 lots.Analysts said fresh deals by participants led to the rise in silver prices.Globally, silver was trading 1.99 percent higher at $31.37 an ounce in New York.

10 Apr

IDBI Bank shares jump after DIPAM secretary says divestment progress is on track

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DIPAM secretary Arunish Chawla said the long-awaited IDBI Bank divestment by the government is progressing rapidly, with several key steps being taken. IDBI Bank shares rallied over 3 per cent on April 9. Speaking to CNBC-TV18 earlier this week, Chawla described the 'multi-stage' process as 'quite complex' involving multiple work-streams running in parallel. "The virtual data room is active, all queries are being answered, we are negotiating the shareholders' agreement, and we have already appointed an asset valuer," Chawla said, adding, "Everything is moving like a parallel computer." The DIPAM secretary refrained from giving any specific timelines, but indicated that…