Business

20 Nov

Equity investments in Indian real estate set to upsurge 49% this year to record $11 billion: CII-CBRE

Priyanka RoyBusiness, News

Equity investments in Indian real estate are set to grow 49 per cent to $11 billion this calendar year amid strong demand for properties, according to a report by Confederation Indian Industries (CII) and real estate consultancy firm CBRE. In the 2023 calendar year, equity investments in real estate stood at $7.4 billion. Debt financing in the sector has also reached a record high, rising to over $4.7 billion from January to September 2024, marking a more than two-fold increase year-on-year, the report said. It noted that nearly 60 per cent of this debt financing targeted key markets, including Delhi-NCR,…

19 Nov

Durex TBBT sparks conversations on life skills at Shillong Cherry Blossom Festival 2024

Business BureauBusiness

Durex The Birds and Bees Talk (TBBT), an impactful program by Reckitt, global leaders in consumer health and hygiene, has once again made a significant mark at the highly anticipated Shillong Cherry Blossom Festival 2024. The event was inaugurated by Shri. Conrad K. Sangma, Hon’ble Chief Minister of Meghalaya, alongside Shri. Sniawbhalang Dhar, Deputy Chief Minister, Government of Meghalaya, Shri. Paul Lyngdoh, Hon’ble Minister of Tourism, Government of Meghalaya, and Shri Jyotiraditya M. Scindia, Hon’ble Union Minister of Development of the North-Eastern Region, Government of India, among other dignitaries. In collaboration with the Department of Health, Durex The Birds and…

19 Nov

Hero MotoCorp share price progress 5% after it reported a 6% rise in Q2 net profit to ₹1,066 crore

Priyanka RoyBusiness, News

Hero MotoCorp share price: Shares of Hero MotoCorp, India's largest two-wheeler maker, rose 5% on Monday, November 18. The company released its financial results for the July-September quarter of the current fiscal year. In early trade, the stock climbed as much as 5% and was trading at ₹4,835 per share on the NSE. At 9:23 am, the stock was trading 4.2% higher at ₹4,797.20 per share. The company has a market capitalisation of ₹96,179.44 crore. Hero MotoCorp results Hero MotoCorp on Thursday said its consolidated net profit for the three-month period ended September 30, 2024 rose 6% to ₹1,066 crore…

18 Nov

Crude oil imports may progress in November after decline in October

Priyanka RoyBusiness, News

India's crude oil imports are likely to improve in November with key refineries, including Mangalore, Kochi and Mathura, restarting after maintenance, according to global real-time data and analytics provider Kpler. The agency estimates India's refineries will increase by 250,000 barrels per day month-on-month to 5.41 million barrels per day during the month, the highest since July. In October, the country's imports fell to a year-low of 4.34 million barrels per day. "They are expected to recover to 4.87 million barrels per day in November, supported by stable domestic production of 590,000 barrels per day," Kpler said in its report. It…

17 Nov

EESL rolls out clean cooking initiative in Tripura with induction cooktop distribution

Business BureauBusiness

Energy Efficiency Services Limited (EESL), under the Ministry of Power, launched the National Efficient Cooking Programme (NECP) in Tripura, aiming to revolutionize cooking practices with sustainable and energy-efficient solutions. As part of the initiative, 2,000 induction cooktops will be distributed to Anganwadi Centres across the state in collaboration with Tripura State Electricity Corporation Limited (TSECL) and with support from the Bureau of Energy Efficiency (BEE). The launch event, attended by Tripura Power Minister Shri Ratan Lal Nath and senior officials from EESL and TSECL, highlighted the health and environmental benefits of transitioning from traditional biomass-based cooking to clean electric cooking.…

16 Nov

Schneider Electric shares inflation, company reports 26% net profit in Q2

Priyanka RoyBusiness, News

Schneider Electric share price rose 4.17 per cent to Rs 755.95 per share in Thursday's intraday deals after the company reported a 26 per cent rise in net profit in Q2FY25. The company on Thursday reported a net profit of Rs 54.3 crore in Q2FY25, registering a growth of 26.6 per cent as compared to net profit of Rs 42.9 crore in the same period a year ago. The company's operating revenue for the quarter stood at Rs 599.7 crore in the September quarter of FY25, registering a growth of 21 per cent from Rs 495.8 crore in the previous…

16 Nov

UTI Mutual Fund expands reach with new financial centre in Dibrugarh

Business BureauBusiness

UTI Asset Management Company (UTI AMC), a leader in India’s asset management sector, has announced the opening of a new UTI Financial Centre (UFC) in Dibrugarh. Located at 1st Floor, House of Subhas Chandra Jain, New Market, H S Road, near Hotel East End, this UFC is part of UTI’s expansion drive, adding 19 new centers across South, East, and Northeast India on November 18, 2024. This move aims to bring mutual fund investments closer to investors in smaller cities, or "B30 cities," fostering financial inclusion on a larger scale. Mr. Imtaiyazur Rahman, MD and CEO of UTI AMC, commented,…

16 Nov

UTI Mutual Fund launches financial centre in Aizawl to boost investment accessibility in Mizoram

Business BureauBusiness

UTI Asset Management Company (UTI AMC), a leading force in India’s mutual fund industry, has announced the launch of a new UTI Financial Centre (UFC) in Aizawl at A 57, Zote Bakery, Lower Zarkawt, Chanmari. This center is part of UTI’s larger strategy to establish 19 new UFCs across South, East, and Northeast India by November 18, 2024, aiming to increase financial inclusion and draw investors from B30 cities into the mainstream financial sector. Mr. Imtaiyazur Rahman, UTI AMC’s Managing Director and CEO, expressed the company's dedication to accessibility, stating, “Our expansion is about proximity and seamless access. The rise…

15 Nov

TKM introduces Special Limited Edition of Glanza, Urban Cruiser Taisor & Urban Cruiser Hyrdyer

Business BureauBusiness

Toyota Kirloskar Motor (TKM) is excited to make this year-end memorable for car buyers with the launch of the Special Limited Edition across its popular models—Glanza, Urban Cruiser Taisor, and Urban Cruiser Hyryder. Following the overwhelming response to the recently introduced Festival Limited Editions, the Special Limited-Edition takes Toyota’s commitment towards customer centricity a step further by offering Toyota Genuine Accessory (TGA) packages. Apart from the special limited edition, Toyota is offering exclusive year-end offers above Rs 1 Lac in Toyota Glanza, Urban Cruiser Taisor & Rumion (except CNG models). Awesome consumer benefits will continue up till 31st Dec 2024.…

15 Nov

Suzlon Energy shares inflation 5% after 5-day decline

Priyanka RoyBusiness, News

Suzlon Energyshares jumped 5% on Thursday and hit an upper circuit of Rs 56.78, snapping a five-day losing streak. The rally in the wind power company's stock is attributed to the optimism prevailing in the market over the company's ongoing efforts to strengthen its position in the renewable energy space.Suzlon's positive momentum is driven by the recent significant order of 1,166 MW of wind power received from NTPC Green Energy. The deal has strengthened Suzlon's order book, which now stands at a record 5.1 GW, driving revenue growth and stability.With a strong order pipeline, Suzlon is well positioned for sustained…