Business

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…

07 Jan

NTPC Green Energy shares inflation on winning 1000 MW power project

Priyanka RoyBusiness, latest

NTPC Green Energy share price rose over one per cent in early trade on January 6 after the company's subsidiary bagged a 1000 MW power project from Uttar Pradesh Power Corporation Limited (UPPCL). At 09:27 am, NTPC Green Energy was quoting at Rs 129.95, up Rs 1.60 or 1.25 percent on the BSE. The company's arm NTPC Renewable Energy (NTPC REL) bagged a 1000 MW capacity at an impressive rate of Rs 2.56/kWh, however, the Letter of Award (LoA) from UPPCL is awaited. The wholly-owned subsidiary has emerged as a successful bidder in the e-reverse auction conducted by UPPCL for…

06 Jan

GNRC-piloted initiative aligned to United Nations Organization’s Sustainable Development

Business BureauBusiness

GNRC Dispur, the first super-specialty hospital in Northeast India, celebrated its 38th anniversary today, reaffirming its unwavering commitment to community care. The event was graced by the presence of Shri Kanak Sen Deka, a senior journalist, intellectual, and Editor-in-Chief of the esteemed Assamese daily Dainik Agradoot, who attended as the Chief Guest. Dr. Nomal Chandra Borah, Founder of the Affordable Health Mission and GNRC Group of Hospitals, highlighted the organization’s diverse initiatives and tireless efforts to make high-quality healthcare accessible to all segments of society. On the auspicious occasion, Mr Kanak Sen Deka unveiled a unique and ground breaking healthcare…

06 Jan

India’s foreign exchange reserves continue to decrease, down 10% from peak

Priyanka RoyBusiness, latest

India's foreign exchange reserves have declined in 12 of the last 13 weeks, hitting a multi-month lowIndia's foreign exchange reserves continue to decline, continuing a three-month long decline. In the week ended December 27, the country's foreign exchange reserves fell by $4.112 billion to $640.279 billion, data from the Reserve Bank of India (RBI) showed.India's foreign exchange reserves have declined in 12 of the last 13 weeks, hitting a multi-month low.The reserves have been declining ever since they touched an all-time high of $704.89 billion in September. Effectively, it is now down by about 10 per cent from the peak.The…

04 Jan

IGL, MGL shares inflation as government asks GAIL and ONGC to give 0.6 mmscmd gas to city gas firms

Priyanka RoyBusiness, latest

Shares of Indraprastha Gas Ltd (IGL), Mahanagar Gas Ltd (MGL) jumped up to 2.5% on January 3 after the oil ministry asked GAIL and ONGC to give 0.6 mmscmd gas to city gas firms. The circular said gas from new wells and oil-associated gas will not be auctioned but will be allocated proportionately to companies based on volume. The move will reduce city gas distribution firms' dependence on gas from the spot market. IGL will get the highest allocation due to its higher market share. At 10:30 am on January 3, IGL shares were trading 2.5% higher at Rs 437…

03 Jan

Godrej Agrovet launches Pride Hog feed range to enhance pig farming in Northeast India

Business BureauBusiness

Godrej Agrovet Limited has introduced its Pride Hog range, a specialized pig feed designed to enhance pig health, immunity, and growth. The product line, which includes Starter, Grower, and Finisher variants, is aimed at improving farm productivity by providing balanced nutrition at every stage of a pig’s lifecycle. This launch is a significant development for pig farming in Northeast India, where nearly half of the country’s pig population resides. As part of the launch, Godrej Agrovet hosted a roundtable discussion in Guwahati, where experts addressed preventive measures for African Swine Fever (ASF) and shared best practices for farm management. The…

03 Jan

Capital Small Finance Bank’s total deposits gain 12% to ₹8,384 crore in Q3

Priyanka RoyBusiness, latest

Capital Small Finance Bank Limited (CSFB) has recorded a 12% year-on-year (YoY) growth in total deposits for the quarter ended December 31, 2024, reaching ₹8,384 crore. This growth is also accompanied by significant progress in loan disbursements, improved asset quality and strong liquidity metrics. Loan advances up 19.2%: The Bank's gross advances reached ₹6,816 crore, registering a growth of 19.2% year-on-year (YoY). Around 99.8% of the portfolio remains secured. Asset quality remains strong: CSFB demonstrated improved asset quality, with the gross non-performing asset (NPA) ratio declining to 2.67% from 2.97% in the same quarter last year. Deposits grew to ₹8,384…