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27 Sep

Sugar companies’ stocks rise up to 8% on expectations of hike in MSP and rise in ethanol prices; Shree Renuka and Balrampur Sugar gain the most

Priyanka RoyBusiness, News

Sugar stocks jumped significantly in intraday trading on Friday, September 27, following remarks by Indian Food Minister Pralhad Joshi. On Thursday, Joshi indicated that the government was considering raising ethanol prices for the 2024-25 season, as well as reviewing the minimum selling price of sugar and sugar exports for the same period.The minister said a committee of secretaries is currently discussing the proposal to increase the minimum selling price of sugar."We are optimistic about sugar production for the 2024-25 season starting in October," Joshi told reporters on the sidelines of the India Sugar and Bio-Energy Conference organised by the Indian…

26 Sep

Edible oil prices expansion by 5-10 percent, may increase further

Priyanka RoyBusiness, News

Following the recent hike in import duty on crude oil and refined oil, consumers have started feeling the impact of inflation in key kitchen items like edible oil.According to the price monitoring cell of the consumer affairs department, the model or benchmark retail price of mustard, sunflower and palm oil, commonly used in Indian kitchens, rose to Rs 148 per litre, Rs 129 per litre and Rs 110 per litre on Tuesday from Rs 140, Rs 120 and Rs 100 per litre, respectively, on September 13. This is an increase of 5-10% since the duty hike was announced 12 days…

25 Sep

Ola Electric shares gain 3%, Bernstein highlights strong growth prospects

Priyanka RoyBusiness, News

Shares of Ola Electric Mobility rallied over 3 per cent to Rs 107.5 in morning trade on September 25 after international brokerage firm Bernstein suggested that the company is extending its lead in the electric two-wheeler (EV 2W) segment and outpacing rivals in profitability.The report shows that Ola Electric not only boasts the highest gross margins among its competitors but is also inching closer to EBITDA level profitability, underlining the strong growth momentum of the company.Ola Electric has significantly improved its path to profitability, reporting an EBITDA margin of -2 per cent, outperforming rivals such as TVS (-7.9 per cent),…

24 Sep

Home loan disbursements decay 9% in June quarter: Report

Priyanka RoyBusiness, News

Home loan originations declined 9 per cent in the June quarter, according to a report released on Monday.Credit information company TransUnion CIBIL said in a report that home loan volumes in value terms were at par with the same period a year ago.The report said outstanding amounts on home loans grew by only 14 per cent during the quarter, making it the slowest growth among all categories that constitute retail loans.Interestingly, the decline in principal volumes and sluggish growth in outstanding balances have come at a time when the incidence of loan defaults has declined during the quarter, the report…

23 Sep

Gold prices grow due to improvement in rural areas and strong demand due to festive season: World Gold Council

Priyanka RoyBusiness, News

New Delhi: According to the latest report of the World Gold Council, gold prices are witnessing a strong surge in both international and domestic markets, and jewellery buying and investment activities are expected to continue.Especially rural demand is showing signs of improvement. This year, due to better monsoon and higher crop sowing, the rural economic situation is expected to be strong, which is expected to increase gold purchases during the festivals.The report pointed out that gold prices continued to strengthen in September. International gold prices rose by 2.8 percent, while domestic prices rose by 1.6 percent in the same period.…

21 Sep

Housing sales may downgrade 18% in September quarter

Priyanka RoyBusiness, News

New Delhi: Home sales across nine major cities are estimated to have declined 18% during the July-September quarter to 1,04,393 units on a high base, according to data from PropEquity. Real estate data analytics firm PropEquity on Friday released home sales data across nine major cities.Sales during the same period last year stood at 1,26,848 units.According to the data, only Delhi NCR (22%) and Navi Mumbai (4%) are expected to witness an increase in housing sales during the July-September period this year.Sales are expected to decline in the other seven cities, with Hyderabad reporting the highest drop of 42%, followed…

20 Sep

Indus Towers shares decline 13% after Supreme Court rejects recalculation of AGR case

Priyanka RoyBusiness, News

Indus Towers shares on Thursday tumbled 13 per cent to hit a low of Rs 366.30 on the BSE following the Supreme Court's verdict in the adjusted gross revenue (AGR) case. The court rejected the telcos' request for recalculation.The Supreme Court upheld its previous decision on the AGR issue and insisted that telecom companies pay the entire amount of AGR dues.Last year, Airtel and Vi had appealed to the Supreme Court to reconsider its earlier verdict, which had rejected their claims of arithmetical errors in calculation of AGR dues by the Department of Telecommunications (DoT), and sought an open court…

19 Sep

Bank of Baroda shares fell -0.4%, Nifty upgrade 0.15%

Priyanka RoyBusiness, News

Bank of Baroda share price today: 19 September 16:00 hrs, Bank of Baroda shares are trading at ₹ 236.8, down -0.4% from its previous close. Sensex is trading at ₹ 83184.8, up 0.29%. The stock touched a high of ₹ 241.65 and a low of ₹ 231.05 during the day.On the technical front, the stock is trading below short term simple moving averages of 5, 10, 20 day as well as long term moving averages of 50, 100 and 300 day.Classic pivot level analysis shows that on the daily time frame, the stock has key resistances at ₹241.67, ₹246.93, and…

18 Sep

Wholesale inflation down for the second consecutive month to 1.31% in August

Priyanka RoyBusiness, News

New Delhi: Wholesale inflation plunged for the second consecutive month to 1.31 percent in August due to cheaper vegetables, food articles and fuel, according to government data released on 17 sep.Inflation based on the Wholesale Price Index stood at 2.04 percent in July. In August last year, it was (-) 0.46 percent."The positive rate of inflation in August 2024 is mainly due to the expansion in prices of food articles, processed food products, other manufacturing, textile manufacturing and manufacturing of machinery and equipment, etc," the Ministry of Industry state in a statement.According to the data, inflation in food items stood…

17 Sep

Tata Motors decay 3% after block deal; stock down over 11% in a month

Priyanka RoyBusiness, News

Tata Motors Share Price NSE, Tata Motors Block Deal: Tata Motors shares fell by 2.87% to ₹ 959.70 per share on the BSE on Tuesday, September 17, amid reports that around 1.9 crore shares representing 0.4% stake in the company changed hands at ₹ 970 per share in the block deal window. The deal size was reported to be ₹ 1,758 crore.Pursuant to the scheme of arrangement, TML Securities Trust sold over 1.14 crore new ordinary shares (NOS) on the stock exchanges for distribution of fractional share entitlements as well as tax liabilities.Tata Motors shares have seen volatility recently. The…