News - The Purbottar

07 Oct

Rama Steel reports 42% YoY grew in steel sales in Q2

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Rama Steel Tubes said it recorded sales of 50,921.67 tonnes in Q2 FY25, up 42% as compared to sales of 35,780.327 tonnes in Q2 FY24.On a sequential basis, the volume is higher by 36%. Sales volume for Q1 FY25 stood at 37,365.55 tonnes in Q1 FY25.The company has recorded sales of 88,287.22 tonnes in H1 FY25 as against 84,218.01 tonnes in H1 FY24, registering a growth of 5% over the same period last year.Rama Steel Tubes is engaged in the business of manufacturing steel pipes and related products.The company reported a 10% decline in consolidated net profit in Q1 FY25…

05 Oct

UCO Bank’s total advances grew 18.6% YoY in September quarter

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PSU lender UCO Bank on October 4 said its total advances rose 18.56 percent year-on-year to Rs 1.98 lakh crore in the second quarter of the current financial year. Total advances of the bank were Rs 1.93 lakh crore in April-June quarter, and Rs 1.67 lakh crore in the year-ago period. In July-September quarter, domestic advances of the lender rose to Rs 1.74 lakh crore, as compared to Rs 1.67 lakh crore in a quarter ago period and Rs 1.43 lakh crore in the year-ago period. Domestic advances grew 21.68 percent on a yearly basis, and 4.19 percent on a quarterly basis.…

04 Oct

Indusind Bank Q2 business update: Advances upsurge 13%, deposits grow 15%

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IndusInd Bank on Friday (October 4) released its business update for the quarter ended September 30, 2024. The bank reported a 13% year-on-year (YoY) growth in net advances to ₹3.57 lakh crore from ₹3.15 lakh crore in the corresponding quarter last year.On a quarter-on-quarter (QoQ) basis, net advances grew 3%, standing at ₹3.48 lakh crore in June 2024.Deposits as of September 30, 2024 grew by 15% to Rs 4.13 lakh crore as compared to Rs 3.60 lakh crore in the same period last year.The bank also reported a 4% quarterly growth in deposits, which stood at ₹3.99 lakh crore in…

03 Oct

IREDA H1 Business Update: Disbursements jump 56%, loan book nears ₹65,000 crore

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State-run Indian Renewable Energy Development Agency (IREDA) Ltd. reported its business update for the April-September period in an exchange filing on Monday evening.For the first half of the current financial year, which ended on September 30, the loans sanctioned by IREDA increased by 303% from last year to ₹17,860 crore from ₹4,437 crore worth of loans that it sanctioned during the same period last year. In terms of disbursements, IREDA disbursed 56% more loans in the period that ended on September 30, compared to the same half last year. The company disbursed loans worth ₹9,787 crore, compared to ₹6,273 crore…

02 Oct

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

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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

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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

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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

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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

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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

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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…