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Cement prices may jump by 4%, which is good news for the sector
11 Dec

Cement prices may jump by 4%, which is good news for the sector

Business CorrespondentBusiness, News
According to CLSA, the Indian cement sector may see a price increase of 4% in the second half of FY25 and this will be good news for companies that have been affected by low prices across India for the last several quarters. However, the sustainability of these price increases remains a key monitorable factor, according to the brokerage. Cement prices increased by Rs 10-30 per bag in early December. The increase was the highest in the eastern and central regions of India at Rs 20-30 per bag, while the rest of the regions saw an increase of Rs 10.This means…
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Retail vehicle sales jump 11.2 percent in November
10 Dec

Retail vehicle sales jump 11.2 percent in November

Business CorrespondentBusiness, News
According to data compiled by the Federation of Automobile Dealers Association, retail sales of vehicles across categories in India rose 11.21 percent to 32,08,719 units in November as against 28,85,317 units in the same month last year. Retail sales of two-wheelers rose to 26,15,953 units in November as against 22,58,970 units in the same month last year. This shows a robust growth of 15.8 percent.
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Oil prices upsurge as China eases monetary policy to boost economic growth
09 Dec

Oil prices upsurge as China eases monetary policy to boost economic growth

Business CorrespondentBusiness, News
Oil prices rose more than 1% on Monday, as top importer China took its first step toward easing monetary policy for the first time since 2010 to boost economic growth, state media reported, citing a politburo meeting. Brent crude futures rose $1, or 1.4%, to $72.12 a barrel at 1356 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.09, or 1.6%, to $68.29. "Oil prices are likely to jump as monetary policy easing in China has boosted risk sentiment," said UBS analyst Giovanni Stauno. China's growth has stalled, as a slowdown in the property market has hit confidence and…
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SBI has projected GDP grow at 6.3%, lower than RBI’s 6.6% estimate for FY25
07 Dec

SBI has projected GDP grow at 6.3%, lower than RBI’s 6.6% estimate for FY25

Business CorrespondentBusiness, News
The State Bank of India (SBI) has projected that India's gross domestic product (GDP) will grow at 6.3% during the current financial year (FY25), lower than the Reserve Bank of India's (RBI) forecast of 6.6%, which was revised upward from 7.2% earlier. "We believe GDP growth for FY25 will be lower than the RBI forecast and are pegging it at 6.3%," SBI said. On Friday, RBI governor Shaktikanta Das announced the central bank's revised estimate for GDP growth. This came after the country's economy grew at 5.4% in the July-September quarter of FY25, the lowest growth in seven quarters. This…
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IGL shares gain over 3% on bonus issue plan
06 Dec

IGL shares gain over 3% on bonus issue plan

Business CorrespondentBusiness, News
IGL share price jumped nearly 4 per cent in mid-day trade on December 5 after the city gas distributor announced that the board will consider a proposal to issue bonus shares on December 10. "It is notified that the Board of Directors is scheduled to meet on December 10, 2024 to consider a proposal to issue bonus shares in the prescribed proportion to the equity shareholders of the company, subject to the approval of the shareholders," a statement issued by the company on December 4 said. The company has not announced the bonus ratio and is likely to announce it…
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Funding by MFs to NBFCs jump nearly 47% to Rs 2.33 trillion in October 2024
05 Dec

Funding by MFs to NBFCs jump nearly 47% to Rs 2.33 trillion in October 2024

Business CorrespondentBusiness, News
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…
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Tata Power shares inflation 4%, brokerages retain ‘buy’ rating after Q2 results
04 Dec

Tata Power shares inflation 4%, brokerages retain ‘buy’ rating after Q2 results

Business CorrespondentBusiness, News
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…
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Tata Motors total sales gain marginally to 74,753 units in November
03 Dec

Tata Motors total sales gain marginally to 74,753 units in November

Business CorrespondentBusiness, News
Tata Motors Limited on Sunday said total sales in November rose marginally to 74,753 units as against 74,172 units in the same month last year. Tata Motors said in a statement that total domestic sales last month rose 1 per cent to 73,246 units as against 72,647 units in November 2023. The company said total passenger vehicle (PV) sales, including EVs, stood at 47,117 units as against 46,143 units in the same month a year ago, up 2 per cent. Similarly, domestic PV sales, including EVs, rose 2 per cent to 47,063 units as against 46,068 units in November 2023.…
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Maruti Suzuki sales jump 10% in November; Hyundai sales fall 7%
02 Dec

Maruti Suzuki sales jump 10% in November; Hyundai sales fall 7%

Business CorrespondentBusiness, News
Maruti Suzuki India on Sunday reported that its total sales in November grew 10 percent year-on-year to 1,81,531 units.The automaker had dispatched 1,64,439 units to its dealers in November last year.Total domestic passenger vehicle wholesales stood at 1,41,312 units as against 1,34,158 units in the same month a year ago, a growth of 5 percent.Sales of mini segment cars, including Alto and S-Presso, stood at 9,750 units as against 9,959 units in November 2023. The Sales of compact cars including Baleno, Celerio, Dzire, Ignis, Swift, Tour S and WagonR declined to 61,373 units as against 64,679 units in the same…
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NTPC Green shares inflation on solar project news
29 Nov

NTPC Green shares inflation on solar project news

Business CorrespondentBusiness, News
Shares of recently listed NTPC Green Energy gained 4% during today's session to hit Rs 127.55 on the BSE after the company announced successful commissioning of the first phase of the 105 MW Shajapur Solar Project having a capacity of 55 MW. In accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that, after successful commissioning, NTPC Renewable Energy Limited, a wholly owned subsidiary of NTPC Green Energy Limited, has announced the first tranche capacity of 55 MW out of the 105 MW Shajapur Solar Project (Unit-I) at Shajapur, Madhya…
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