Business

15 Jan

India to Promote Textiles Amid Bangladesh’s Export Challenges

editorBusiness

India plans to bolster its textile and garment industry in the forthcoming budget, aiming to capitalize on disruptions in Bangladesh's exports due to political instability. The government is considering financial support, tariff reductions, and incentives to enhance local production. This initiative seeks to attract international buyers, particularly from the U.S., who are seeking alternative suppliers. The textile sector, employing around 45 million people, may see a 10%-15% budget increase for the textile ministry and expanded production-linked incentives. Additionally, tariff cuts on raw materials and machinery are under consideration. Recent data indicates that while Bangladesh's garment exports to the U.S. declined…

14 Jan

Adani Group stocks surge as Adani Power upgrade over 19%

Priyanka RoyBusiness, News

New Delhi: Adani Group stocks witnessed a significant surge on Tuesday, with Adani Power recovering from the previous day's fall to surge as much as 19.29%. Other stocks in the group that also registered gains included Adani Green Energy, which rose 14.54%, Adani Energy Solutions (14.38%), Adani Total Gas (13%), and NDTV (12.50%) on the Bombay Stock Exchange (BSE). Shares of Adani Enterprises rose 8.91%, Adani Ports surged 6%, Ambuja Cements rose 4.79%, ACC rose 4.50%, Sanghi Industries rose 4.22%, and Adani Wilmar gained 3%. All Adani Group stocks ended weak in Monday's trade following a weak trend in equities.…

14 Jan

Toyota Kirloskar Motor establishes its 67th T-TEP and STAR scholarship initiative

Business BureauBusiness

Continuing its commitment to the nation’s ‘Skill India’ and ‘Make in India’ missions, Toyota Kirloskar Motor (TKM) announced the launch of its 67th Toyota Technical Education Program (T-TEP) and the “Scholarship program for Technical Education and Recognition” [STAR] initiative under T-TEP at Government Industrial Training Institute (ITI), Aizwal, Mizoram. Reaffirming TKM’s unwavering commitment to fostering skill development and enhancing employability opportunities across the area. The initiative is a collaboration between TKM, the Government of Mizoram, and dealership partner Zote Toyota, underscoring their shared commitment to enhancing youth employability and fostering skill development. The launch event was graced by Chief Guest…

13 Jan

Paytm shares lapse 6%, down over 20% in five sessions

Priyanka RoyBusiness, News

Shares of One97 Communications, the parent company of fintech major Paytm, continued to decline for the fourth consecutive session on January 13. The shares fell to Rs 796.1, marking a decline of over 6 percent. Earlier, UBS had released a report citing NPCI data, which mentioned that Paytm did not gain any UPI market share in December. In October, Paytm received approval to add customers. Nevertheless, its share of the UPI market almost halved, falling from 10 per cent at the start of 2024 to 5.5 per cent by the end of the year. During the October-November period, Paytm's market…

11 Jan

Amount raised from capital markets may inflation 21 percent to Rs 14.7 lakh crore in FY25: Sebi chief

Priyanka RoyBusiness, News

He said another Rs 1 lakh crore is expected to be raised through equity in the January-March quarter, taking the total amount raised through equity to Rs 4.3 lakh crore by the end of March 2025.Securities and Exchange Board of India Chairperson Madhabi Puri Buch on Friday said the amount raised from capital markets may rise 21 per cent to Rs 14.7 lakh crore in FY25 from Rs 11.8 lakh crore in the previous fiscal.The total resources raised from the domestic capital market in the first nine months (April-December) of the current fiscal stood at Rs 10.7 lakh crore, including…

10 Jan

IREDA Q3 results: Net profit inflation 27% year-on-year to ₹425.35 crore; revenue rises 37%

Priyanka RoyBusiness, News

IREDA Q3 results: Indian Renewable Energy Development Agency (IREDA) announced its October to December quarter results on Thursday, January 9. The state-owned company's net profit rose 27 per cent to ₹425.38 crore in the third quarter of FY2024-25, as against ₹335.53 crore in the same quarter last year. Revenue from operations grew 37 per cent to ₹1,654.45 crore in the October to December quarter results of FY2024-25, as against ₹1,208.10 crore in the same quarter last year. The company's total expenses for the third quarter in FY 2024-25 rose 33.8 per cent to ₹1,160.78 as against ₹867.06 in the same…

09 Jan

Ola Electric shares downgrade 4% after SEBI warning

Priyanka RoyBusiness, News

On Wednesday, January 8, shares of Ola Electric Mobility fell 1.34% to a day's low of Rs 75.16 on the BSE after the Securities and Exchange Board of India (SEBI) issued an administrative warning for violation of disclosure rules.SEBI issued the warning on January 7, citing violations of Disclosure Rules, 2015, Regulations 4(1)(d), 4(1)(f), 4(1)(h), and 30(6).The warning relates to Ola Electric's announcement that the network of company-owned stores will grow fourfold by December 20, 2024.On December 2, 2024, the corporation informed the exchanges after 1:30 pm, although Chairman and Managing Director Bhavish Aggarwal had announced "X" before 10 am…

09 Jan

CEAT expands footprint in North East with new CFA in Tripura

Business BureauBusiness

Indian tyre manufacturer CEAT has inaugurated a new premium retail facility in Agartala, Tripura, strengthening its presence in Northeast India. The expansion comes amid growing four-wheeler sales in the region. CEAT Managing Director & CEO Arnab Banerjee emphasized the company's "Customer First" philosophy and highlighted the Northeast's strategic importance for the tyre industry. The company currently operates 18 premium outlets and over 900 retail touchpoints across Assam, Nagaland, Tripura, Manipur, and Mizoram, with planned expansions in Arunachal Pradesh and Meghalaya. The new Agartala facility will serve the region's 3.7 million residents, offering a range of tyres for passenger cars, two-wheelers,…

08 Jan

Delta Corp shares rose 6% as Supreme Court agrees to hear online gaming industry’s petitions against GST show cause notices on January 10

Priyanka RoyBusiness, latest

Delta Corp shares jumped nearly 5% on January 8 as Supreme Court agreed to hear online gaming industry's petitions against GST show cause notices on January 10. At 12 pm, Delta Corp shares were trading 6% higher at Rs 116.43 per share. According to a CNBC-TV18 report, the industry is seeking a stay on the show cause notices with concerns of possible coercive action by tax authorities. The industry has expressed concern, saying the issue has been pending for several years, CNBC-TV18 said. Online gaming companies have been sent 71 show cause notices related to evasion of goods and services…

07 Jan

Seagram’s Royal Stag Packaged Drinking Water partners with Netflix’s Squid Game Season 2

Business BureauBusiness

Seagram’s Royal Stag has collaborated with Netflix's record-breaking series 'Squid Game' for its second season. The collaboration seamlessly integrates Royal Stag's ‘Live It Large’ philosophy, offering audience a larger-than-life experience to be part of the global cultural phenomenon that has captivated millions worldwide. K-dramas have high affinity with the younger generation. Hence, this association allows the brand to play up on culturally relevant youth passion point, dialing up relevance & aspiration. Joydeep Basuroy, General Manager – Marketing at Pernod Ricard India shared, "Royal Stag’s association with Netflix’s Squid Game allows the brand to tap into the young generation’s craze for…