05
Dec
05
Dec
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…
04
Dec
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…
04
Dec
The central government has canceled Rs. 66.08 crore allocated for Mizoram’s Sangau-Saisihchhuah road project due to the state’s failure to meet land acquisition requirements by June 2024. The funds, initially sanctioned for improving connectivity with Myanmar's Chin State, have been redirected into a Border Roads Organisation (BRO) initiative under the General Staff scheme. Union Minister Sukanta Majumdar explained the decision, citing non-compliance with stipulated conditions. The retracted funds will now support the Thingsai-Pangkhua-Sangau road project, ensuring continuity but potentially extending timelines for infrastructure development in South Mizoram. The Sangau-Saisihchhuah road was part of a 2021 BRO program to enhance cross-border…
04
Dec
Pradyot Kishore Manikya Debbarma, founder of Tipra Motha, announced significant progress in the second round of negotiations for the Tiprasa Accord with the Union Home Ministry on Tuesday, December 3. The talks, focused on addressing long-standing issues of Tripura's tribal communities, were described as "constructive" and a potential breakthrough. Key demands discussed included land rights, linguistic preservation, Articles 2 and 3, upgrading the Tripura Tribal Areas Autonomous District Council (TTAADC), and establishing a Central University. "We have stood firm on all our demands. Dialogue, not violence, is the path to solutions," Debbarma stated, advocating for peaceful resolutions over confrontation. Debbarma…
04
Dec
Attending the first-ever Regional NeVolution Education Workshop, Arunachal Pradesh Deputy Chief Minister Chowna Mein emphasized the value of enhancing basic literacy and numeracy skills to give every child access to high-quality education and opportunities for a better future. The Aspirational Block Program hosted the event in Itanagar with the title "Regional Workshop on Improving Education KPIs in Aspirational Districts & Blocks" for Northeastern states, including Jammu & Kashmir and Jharkhand. The event's main guest was the deputy chief minister of Arunachal. With Rs 150 crores set aside for the building of 30 Government Secondary and Higher Secondary Schools around the…
04
Dec
Toyota Kirloskar Motor (TKM) has announced its continued association with the prestigious Hornbill Music Festival, one of India’s most iconic cultural celebrations, for the third consecutive year through the title sponsorship. Held at the Naga Heritage Village, Kisama, in Kohima District, Nagaland, the festival runs from December 2 to December 10, featuring exciting performances, including a special opening act by Japan’s renowned drum ensemble, Drum Tao. This unique collaboration brings together traditional and contemporary musical experiences, showcasing a deep cultural bond. TKM’s ongoing partnership with the Hornbill Music Festival reflects the company’s deeper connections with the people of Nagaland and…
04
Dec
Shriram Finance Ltd. has launched an inspiring new campaign, #TogetherWeSoar, featuring cricket legend Rahul Dravid as the brand ambassador. The campaign emphasizes Shriram Finance's core belief that building strong relationships with customers enables them to achieve their dreams and rise above challenges. Dravid, known for his resilience and leadership on and off the cricket field, epitomizes the values of teamwork that Shriram Finance stands for. Alongside him, veteran actor Naseeruddin Shah lends his voice to the Hindi ad, further adding emotional depth to the campaign, which also features regional versions in Tamil, Telugu, Kannada, Malayalam, Marathi, and Bengali. The lyrics…
03
Dec
In a significant operation near the India-Myanmar border, Mizoram Police and Assam Rifles seized banned methamphetamine tablets valued at ₹68 crore in Champhai district's Zokhawthar village. Acting on intelligence inputs, the joint team launched the operation and recovered 22.6 kg of meth tablets. According to an Assam Rifles official, the suspect was spotted crossing the Tiau River with a brown sack. Upon being challenged, the individual fled towards Myanmar, abandoning the contraband. The seized drugs were handed over to Zokhawthar police for further investigation and legal action. This operation follows another recent seizure by the same security forces in Serchhip…
03
Dec
The Madan Mohan Halder Challenge Shield football tournament, organized by the Ahmodpur Players Association, returned for its latest edition, showcasing young talent and boosting the local economy. Marking the Association’s 50th year, the event includes eight teams from districts like Murshidabad, Durgapur, and Kolkata, competing in a three-day knockout format. An all-women’s charity match further highlights the tournament's commitment to inclusivity. The event's economic impact on Birbhum is significant. Vendors in Ahmedpur and Sainthia report increased footfall as visitors flock to markets for refreshments, merchandise, and memorabilia. The tournament drives revenue for small businesses, creating a festive buzz that resonates…