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04 Dec

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

Priyanka RoyBusiness, 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…

03 Dec

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

Priyanka RoyBusiness, 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.…

02 Dec

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

Priyanka RoyBusiness, 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…

29 Nov

NTPC Green shares inflation on solar project news

Priyanka RoyBusiness, 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…

28 Nov

Centre reports 312% rise in fake ₹500 notes, 166% jump in ₹2,000 notes over past 5 years

Priyanka RoyNews

New Delhi:The Centre has reported a huge increase in the number of counterfeit notes over the past five years. The number of fake ₹500 notes has risen by 312%, while the number of fake ₹2,000 notes has increased by 166%, according to figures from the Ministry of Finance. This information was provided by Minister of State for Finance Pankaj Chaudhary in response to a question from DMK MP T M Selvaganapathy. However, the Centre also reported a 15% decrease in fake ₹500 notes in the 2024 fiscal year. The number of counterfeit ₹500 notes had increased by 102% in the…

27 Nov

Bank of India completes Rs 5,000 crore bond sale, stocks progress

Priyanka RoyBusiness, News

Bank of India stock closed 3.48% higher at Rs 111.90 on the BSE. The bank's market cap stood at Rs 50,762 crore. Bank of India shares surged after the lender said it has issued long term bonds (infrastructure) worth Rs 5,000 crore on a private placement basis. Bank of India stock closed 3.48% higher at Rs 111.90 on the BSE. The bank's market cap stood at Rs 50,762 crore. A total of 4.87 lakh shares were traded on the BSE, generating a turnover of Rs 5.33 crore. The stock is neither trading in the overbought nor in the oversold zone,…

26 Nov

Swiggy shares inflation 6% after UBS initiates coverage, analysts expect up to 26% surge

Priyanka RoyBusiness, News

Shares of Swiggy Ltd, a leading player in food delivery and instant commerce, jumped 6 per cent to Rs 456 in morning trade on November 26, after UBS initiated coverage with a 'buy' rating. The brokerage highlighted Swiggy's strong growth prospects and set a target price of Rs 515, implying a potential upside of about 27 per cent from current levels. UBS pointed out that Swiggy is well positioned for growth, currently trading at a 35 per cent discount to Zomato.The stock rose 6.2 per cent to Rs 458 compared to its previous close of Rs 431.25 on the BSE,…

25 Nov

NTPC shares jump 3% on Bernstein’s ‘outperform’ call; sees 20% rally

Priyanka RoyBusiness, News

NTPC shares rose 3 per cent in morning trade on November 25 to hit Rs 377, continuing its gains for the second consecutive trading session after Bernstein maintained an 'outperform' rating on the company and raised the target price.With a target price of Rs 440, the international brokerage forecasts a 20.5 per cent upside from current market levels, citing strong power demand, lack of evening hours and the company's debt-cost advantage as key drivers.While analysts do not see any significant upside beyond these factors, they are also not expecting downside risk. NTPC shares are currently valued at 16 times FY25…

23 Nov

Housing construction cost gain 39% in 4 years: Colliers

Priyanka Roybreaking news, News

New Delhi, Nov 23 (PTI) The average cost of construction of housing projects in big cities has risen 39 per cent to Rs 2,780 per sq ft in the last four years, while construction material and labour have become costlier, according to Colliers India. Data from real estate consultant Colliers India shows that the average construction cost for premium housing projects was Rs 2,000 per sq ft in October 2020. The construction cost rose to Rs 2,200 per sq ft in October 2021, Rs 2,300 per sq ft in October 2022, Rs 2,500 per sq ft in October 2023 and…

22 Nov

Oil prices rise, headed for weekly gain on Russia-Ukraine tensions

Priyanka RoyBusiness, News

Oil prices rose in Asian trade on Friday as traders placed a higher risk premium on crude oil amid growing concerns over Russia and Ukraine, capping a positive week. Supply disruptions in Norway and a brief drop in the dollar also supported oil prices early in the week, along with reports that the Organization of Petroleum Exporting Countries and allies (OPEC+) were likely to postpone planned production increases. The increased risk premium helped oil weather a bigger-than-expected rise in U.S. stockpiles. Brent oil futures for January expiration rose 0.4% to $74.54 a barrel, while West Texas Intermediate crude futures rose…