Business News Northeast - Latest Business Northeast News & Updates

11 Jan

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

Priyanka RoyBusiness, 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%

Priyanka RoyBusiness, 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

Priyanka RoyBusiness, 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

Priyanka RoyBusiness, 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…

07 Jan

Seagram’s Royal Stag partners with Netflix’s Squid Game Season 2 for a groundbreaking collaboration

Business BureauBusiness

Seagram’s Royal Stag has joined forces with Netflix’s global hit, Squid Game, for an iconic collaboration that promises to bring the show's cultural phenomenon to the forefront. The partnership, which marks the second season of Squid Game, aligns with Royal Stag’s ‘Live It Large’ philosophy, offering fans an unparalleled experience to immerse themselves in the world of the record-breaking series. “We’re excited to tap into the immense popularity of K-culture, especially among the youth, with this collaboration,” said Joydeep Basuroy, General Manager – Marketing at Pernod Ricard India. “Royal Stag has always resonated with those who dream big, much like…

07 Jan

NTPC Green Energy shares rose on winning 1000 MW power project

Priyanka RoyBusiness, News

NTPC Green Energy share price rose over one per cent in early trade on January 6 after the company's subsidiary bagged a 1000 MW power project from Uttar Pradesh Power Corporation Limited (UPPCL). At 09:27 am, NTPC Green Energy was quoting at Rs 129.95, up Rs 1.60 or 1.25 percent on the BSE. The company's arm NTPC Renewable Energy (NTPC REL) bagged a 1000 MW capacity at an impressive rate of Rs 2.56/kWh, however, the Letter of Award (LoA) from UPPCL is awaited. The wholly-owned subsidiary has emerged as a successful bidder in the e-reverse auction conducted by UPPCL for…

06 Jan

Ujjivan Small Finance Bank reports strong growth in Q3 FY25

Business BureauBusiness

Ujjivan Small Finance Bank (USFB) has announced impressive financial results for the quarter ending December 31, 2024, marking significant year-on-year growth across key business metrics. Total deposits reached ₹34,496 crore, a 16% increase compared to ₹29,669 crore in the same period last year. The bank’s CASA (Current Account Savings Account) deposits grew by 15%, reaching ₹8,657 crore. On the asset side, the bank's gross loan book stood at ₹30,466 crore, up 10% from ₹27,743 crore in December 2023. The affordable housing segment saw the highest growth with a 45% surge, while MSME loans grew by 21%. Ujjivan also saw a…

06 Jan

India’s foreign exchange reserves continue to lapse, down 10% from peak

Priyanka RoyBusiness, News

India's foreign exchange reserves have declined in 12 of the last 13 weeks, hitting a multi-month lowIndia's foreign exchange reserves continue to decline, continuing a three-month long decline. In the week ended December 27, the country's foreign exchange reserves fell by $4.112 billion to $640.279 billion, data from the Reserve Bank of India (RBI) showed.India's foreign exchange reserves have declined in 12 of the last 13 weeks, hitting a multi-month low.The reserves have been declining ever since they touched an all-time high of $704.89 billion in September. Effectively, it is now down by about 10 per cent from the peak.The…