Business

04 Feb

Nestle India Ltd. Its share price fell 0.45% to close at ₹2,316.90

editorBusiness

Nestle India Ltd. saw a decline of 0.45% in its share price, closing at ₹2,316.90. This performance was part of a challenging trading session where the BSE SENSEX Index fell by 0.41% to 77,186.74. Nestle India's shares are currently 16.57% below their 52-week high of ₹2,777.00, recorded on September 27th. In comparison, Heritage Foods (India) Ltd. experienced a slight decline of 0.22% to ₹429.65, while Vadilal Industries Ltd. saw an increase of 0.97% to ₹3,922.90. The trading volume for Nestle India was 58,321, slightly above its 50-day average of 57,322. Analysts suggest that Nestle India's underperformance relative to its competitors…

04 Feb

Maruti Suzuki India Ltd. Its share price has increased significantly

editorBusiness

Maruti Suzuki India Ltd. experienced a notable rise in its share price, increasing by 1.66% to ₹13,135.40. This performance stands out amid a challenging trading session where the BSE SENSEX Index declined by 0.41% to 77,186.74. Currently, Maruti Suzuki India's stock is 3.95% below its 52-week high of ₹13,675.00, achieved on August 1st. Among its peers, the company had a mixed performance: Ashok Leyland Ltd. saw a decline of 1.18% to ₹203.91, while Eicher Motors Ltd. experienced a rise of 1.73% to ₹5,481.40. The trading volume for Maruti Suzuki India was 23,150, surpassing its 50-day average of 13,289, indicating strong…

04 Feb

Greaves Electric Mobility sees sales upsurge in January

Priyanka RoyBusiness, News

Greaves Electric Mobility Ltd (GEML), the e-mobility arm of Greaves Cotton Ltd, reported robust sales in January. Under the company's flagship Ampere brand, it sold 3,611 units in January, making it the 5th best-selling electric two-wheeler brands in India, according to the vehicle portal. The manufacturer reported a 53% year-on-year growth and a 27% month-on-month growth, driven primarily by sales of its premium family electric scooters - Nexus and Magnus Neo. Overall, retail growth for Ampere (including slow-speed vehicles) stood at 38% month-on-month, which is higher than the industry growth average. The Magnus Neo, the updated variant of the recently…

03 Feb

UPL shares rose 5% after Investec upgrades rating to ‘buy’, raises price target to Rs 700

Priyanka RoyBusiness, News

UPL shares jumped over 5 percent after global brokerage Investec upgraded its rating on the stock to 'buy' from an earlier 'sell' call, and hit a 52-week high of Rs 636.80 on February 3. Apart from the rating upgrade, Investec also raised its price target for the stock to Rs 700, significantly higher than the previous target of Rs 450. Investec's optimism towards UPL is driven by expectations that the company will successfully reduce its overall debt levels in FY25. UPL's net debt stood at Rs 27,531 crore as of September 2024. The brokerage is also confident that UPL will…

03 Feb

Air India Express launches Dibrugarh-Guwahati-Delhi flight, expands northeast network

Business BureauBusiness

Air India Express today inaugurated its Dibrugarh operations, strengthening its presence in Northeast India. A new daily direct flight now links Dibrugarh and Guwahati, offering convenient one-stop service to Delhi without requiring a change of aircraft. This marks the airline's fifth Northeast hub, joining Agartala, Dimapur, Guwahati, and Imphal. The inaugural flight departed Dibrugarh at 1:45 PM, arriving in Guwahati at 3:15 PM before continuing to Delhi. The new route offers enhanced connectivity from Dibrugarh to key Indian cities, including Bengaluru, Chennai, Delhi, Jaipur, and Kolkata. Air India Express also unveiled two aircraft with special liveries celebrating Assamese culture, featuring…

03 Feb

Dr. Prathap C Reddy, the founder and chairman of Apollo Hospitals, shares his opinion on the Union Budget

Business BureauBusiness

Further to the Union Budget announced by Honorable Minister Smt. Nirmala Sitharaman. Dr. Prathap C Reddy, Founder and Chairman, Apollo Hospitals, has spoken on the Union Budget, “Over the last decade, we have laid a robust foundation, bringing modern diagnostics, preventive healthcare, and cutting-edge developments in medical technology to patients across India.” He also said, “The announcement to promote medical tourism through private sector partnerships will enhance our capacity to attract global patients and position India as the go-to destination for affordable, world-class medical care under the ‘Heal in India’ mission. The setting up of 200 Daycare Cancer Centers in…

02 Feb

Polaris group eyes Assam for record-breaking development project

Business BureauBusiness

Assam is set to see a big investment that could change its cities and economy.Santanu Ghosh, Chief Coordinator of KPC Group and Polaris has expressed his business group’s keen interest in making a substantial investment in the state. In a proposal submitted to Assam Chief Minister Himanta Biswa Sarma, Ghosh outlined an ambitious plan to construct the tallest skyscraper in the state along with several large-scale projects aimed at transforming Assam’s infrastructure. The proposed investment, valued at over Rs 2,500 crore is envisioned as an "epic and landmark" development that would put Assam on the global investment map. What sets…

01 Feb

Ola Electric Mobility shares inflation 12%, back close to IPO price on new launches

Priyanka RoyBusiness, News

Shares of Ola Electric Mobility Ltd jumped as much as 12% on Friday, January 31, after the company launched new vehicles and announced more launches in the near future. With Friday's surge, the stock is back close to its IPO price of ₹76. As of Thursday's close, Ola Electric Mobility shares were down 57% from their post-listing peak of ₹157. The company today launched the Ola Electric Gen 3, with MD and CEO Bhavish Aggarwal saying the company has again become a leader in terms of EV two-wheeler market share. Aggarwal also said that while the competition got "a bit…

31 Jan

Tripura secures second spot in national energy-efficient lighting adoption

Business BureauBusiness

Tripura has ranked second in India for the adoption of energy-efficient lighting solutions, following Jharkhand, according to data from EESLMart.in, the online marketplace launched by Energy Efficiency Services Limited (EESL). Tripura’s strong performance highlights a significant shift in consumer behavior, as the state surpasses major metropolitan regions like Maharashtra and Tamil Nadu. The 5-star 6-watt LED bulbs, which consume minimal power while offering brightness equivalent to 9-10 watt LEDs, have been a popular choice. These bulbs are available through EESLMart.in, a platform designed to provide affordable energy-efficient products to consumers across India. EESL CEO Vishal Kapoor praised the increasing uptake…

31 Jan

H&M profit rises despite revenue downturn

Priyanka RoyBusiness, News

The Swedish H&M group saw its group revenue decrease by 1% in the fourth quarter and the full year. Nevertheless, the company managed to increase its profit. After a challenging period, the fashion giant believes it is back on the right track. Slow but profitable year-end In the fourth quarter, H&M's net revenue fell slightly to 62.2 billion Swedish kronor (5.4 billion euros), despite a 4% increase in December. The late arrival of Black Friday meant that most of its revenue was recorded in December, unlike the previous year. Gross margin rose slightly to 54.6% from 53.7%, while gross profit…