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15 Jan

Trent shares rise nearly 5% after Elara Securities assigns ‘buy’ rating

Business CorrespondentBusiness, News

Trent shares rose 4.89 percent to Rs 6,519 per share on January 15 after Elara Securities recommended a "buy" on the stock.Elara Securities has initiated coverage on Trent with a "buy" rating and a target price of Rs 8,500. The brokerage expects Trent to maintain industry-leading metrics due to differentiated product offerings, strong hold on processes and complete reliance on private labels.Trent's fashion portfolio consistently outperforms its peers in key parameters such as store size, revenue per sq ft/per store and EBITDA margin, as well as leading in headline growth.This outperformance is expected to be sustained by a firm focus…

14 Jan

Adani Group stocks inflation as Adani Power surges over 19%

Business CorrespondentBusiness, News

New Delhi: Adani Group stocks witnessed a significant surge on Tuesday, with Adani Power recovering from the previous day's fall to surge as much as 19.29%. Other stocks in the group that also registered gains included Adani Green Energy, which rose 14.54%, Adani Energy Solutions (14.38%), Adani Total Gas (13%), and NDTV (12.50%) on the Bombay Stock Exchange (BSE). Shares of Adani Enterprises rose 8.91%, Adani Ports surged 6%, Ambuja Cements rose 4.79%, ACC rose 4.50%, Sanghi Industries rose 4.22%, and Adani Wilmar gained 3%. All Adani Group stocks ended weak in Monday's trade following a weak trend in equities.…

14 Jan

TKM launches its 67th T-TEP and STAR scholarship initiative in Mizoram

Business BureauBusiness

Continuing its commitment to the nation’s ‘Skill India’ and ‘Make in India’ missions, Toyota Kirloskar Motor (TKM) has announced the launch of its 67th Toyota Technical Education Program (T-TEP) and the “Scholarship program for Technical Education and Recognition” [STAR] initiative under T-TEP at Government Industrial Training Institute (ITI), Aizwal, Mizoram. Reaffirming TKM’s unwavering commitment to fostering skill development and enhancing employability opportunities across the area. The initiative is a collaboration between TKM, the Government of Mizoram, and dealership partner Zote Toyota, underscoring their shared commitment to enhancing youth employability and fostering skill development. The launch event was graced by Chief…

13 Jan

Paytm shares decay 6%, down over 20% in five sessions

Business CorrespondentBusiness, News

Shares of One97 Communications, the parent company of fintech major Paytm, continued to decline for the fourth consecutive session on January 13. The shares fell to Rs 796.1, marking a decline of over 6 percent. Earlier, UBS had released a report citing NPCI data, which mentioned that Paytm did not gain any UPI market share in December. In October, Paytm received approval to add customers. Nevertheless, its share of the UPI market almost halved, falling from 10 per cent at the start of 2024 to 5.5 per cent by the end of the year. During the October-November period, Paytm's market…

11 Jan

Amount raised from capital markets may upsurge 21 percent to Rs 14.7 lakh crore in FY25: Sebi chief

Business CorrespondentBusiness, News

He said another Rs 1 lakh crore is expected to be raised through equity in the January-March quarter, taking the total amount raised through equity to Rs 4.3 lakh crore by the end of March 2025.Securities and Exchange Board of India Chairperson Madhabi Puri Buch on Friday said the amount raised from capital markets may rise 21 per cent to Rs 14.7 lakh crore in FY25 from Rs 11.8 lakh crore in the previous fiscal.The total resources raised from the domestic capital market in the first nine months (April-December) of the current fiscal stood at Rs 10.7 lakh crore, including…

10 Jan

IREDA Q3 results: Net profit upsurge 27% year-on-year to ₹425.35 crore; revenue rises 37%

Business CorrespondentBusiness, News

IREDA Q3 results: Indian Renewable Energy Development Agency (IREDA) announced its October to December quarter results on Thursday, January 9. The state-owned company's net profit rose 27 per cent to ₹425.38 crore in the third quarter of FY2024-25, as against ₹335.53 crore in the same quarter last year. Revenue from operations grew 37 per cent to ₹1,654.45 crore in the October to December quarter results of FY2024-25, as against ₹1,208.10 crore in the same quarter last year. The company's total expenses for the third quarter in FY 2024-25 rose 33.8 per cent to ₹1,160.78 as against ₹867.06 in the same…

09 Jan

CEAT expands retail presence in North East with new CFA in Tripura

Business BureauBusiness

CEAT, a leading Indian tyre manufacturer, has further cemented its commitment to the North Eastern region with the inauguration of a new premium retail facility in Agartala, Tripura. The expansion highlights CEAT's focus on customer-centric growth and its dedication to enhancing accessibility and service across the North East. With the steady growth of four-wheeler sales in the region, CEAT sees immense potential for expanding its premium retail presence to meet the evolving demands of customers. Speaking on the occasion, Mr. Arnab Banerjee, MD & CEO, CEAT, said, “At CEAT, we are driven by our "Customer First" philosophy, which prioritizes the…

09 Jan

Mahindra launches Premium BE 6 and XEV 9e EVs, prices start at Rs 26.9 lakh

Business BureauBusiness

Mahindra unveiled the top-end Pack Three variants of its Electric Origin SUVs, BE 6 and XEV 9e, at the Unlimit India Tech Day. The BE 6 is priced at ₹26.9 lakh, while the XEV 9e costs ₹30.5 lakh, with EMIs starting at ₹39,224 and ₹45,450, respectively, under the "Three for Me" finance program. This initiative ensures accessibility by offering the same EMIs as Pack One with a balloon payment after six years. The Pack Three variants feature a 79 kWh battery, delivering over 500 km of real-world range and rapid charging capability. Test drives will begin on January 14, 2025,…

09 Jan

Natural Gas Futures upgrade on High Demand and Limited Supply

Business CorrespondentBusiness, News

Natural gas futures rose on Wednesday due to strong demand caused by weather in the United States. This increased demand coincides with limited supply due to some production freeze-offs. Despite prices dipping in the previous session, cold forecasts for the third week of January are causing a bullish rebound, according to a note from Eli Rubin of EBW Analytics. Rubin pointed out that the market is underestimating the scale of the significant national storage draws expected to take place in January. He added that the freeze-off period could be longer than initially thought. Below-average storage draws for the prior week…

08 Jan

Delta Corp shares upsurge 6% as Supreme Court agrees to hear online gaming industry’s petitions against GST show cause notices on January 10

Business CorrespondentBusiness, News

Delta Corp shares jumped nearly 5% on January 8 as Supreme Court agreed to hear online gaming industry's petitions against GST show cause notices on January 10. At 12 pm, Delta Corp shares were trading 6% higher at Rs 116.43 per share. According to a CNBC-TV18 report, the industry is seeking a stay on the show cause notices with concerns of possible coercive action by tax authorities. The industry has expressed concern, saying the issue has been pending for several years, CNBC-TV18 said. Online gaming companies have been sent 71 show cause notices related to evasion of goods and services…