Business

02 Jan

Eicher Motors shares inflation over 6% as the company reported a 25% rise in motorcycle sales in Decembe

Priyanka RoyBusiness, latest

Shares of Royal Enfield maker Eicher Motors rose over 6% on January 2 after the company reported a 25% rise in motorcycle sales in December. In a stock exchange filing, the company said its total motorcycle sales rose 25% to 79,466 units in December as against 63,387 units in the same period a year ago. The company's international business also performed better, rising 90% to 11,575 units. At 11:50 am on January 2, Eicher Motors shares were trading over 6% higher at Rs 5,199.5 per share. The stock has a market capitalisation of Rs 1.43 lakh crore. B Govindarajan, CEO,…

31 Dec

RVNL shares upsurge 8% on bagging two projects worth Rs 541 crore

Priyanka RoyBusiness, latest

Shares of Rail Vikas Nigam Limited rallied nearly eight per cent in the morning session on the last trading day of 2024. The railway firm was declared the lowest bidder for the two projects. As a result, RVNL shares snapped a nine-session losing streak. At 11.50 am, the stock was at Rs 427.4 on the NSE, up 4.7 percent from its previous session closing price. First, RVNL won a Rs 137-crore project from the Central Railway. RVNL has 24 months to complete the project. The railway firm will undertake design, supply, construction, testing and commissioning of 132/55 kV traction substations,…

31 Dec

ICICI Prudential Life launches ‘ICICI Pru Wish,’ pioneers women-specific health insurance

Business BureauBusiness

ICICI Prudential Life Insurance has introduced "ICICI Pru Wish," a first-of-its-kind health product in the life insurance sector exclusively designed for women. This innovative offering provides up to 100% payout of the health cover amount upon diagnosis of critical illnesses, including breast, cervical, and uterine cancers, as well as heart ailments. Key features include a 30-year premium guarantee, ensuring consistent financial planning, and a "premium holiday" option that allows customers to pause payments for up to 12 months during the policy term. Additionally, the product covers maternity-related complications and congenital illnesses in newborns, making it a comprehensive health solution for…

30 Dec

Vodafone Idea shares progress over 5% as government waives bank guarantees for previous spectrum auctions

Priyanka RoyBusiness, latest

Vodafone Idea shares surged over 5 per cent on December 30 as government waives bank guarantees for previous spectrum auctions. At 11:10 am on December 30, Vodafone Idea shares were trading at Rs 7.88. The telecom firm has been exempted from providing bank guarantees of Rs 24,800 crore for spectrum auctions held before 2021 (2012, 2014, 2015, 2016). In a filing dated December 28, the company termed the government reform as a "major relief for telcos". The company said that prior to this reform, the company was required to provide bank guarantees totalling Rs 24,800 crore for each spectrum instalment…

28 Dec

Eugenix Hair Sciences boosts hair restoration market with celebrity endorsements

Business BureauBusiness

Eugenix Hair Sciences, a pioneer in hair restoration, is driving economic growth in the premium cosmetic care sector with its advanced Direct Hair Transplant (DHT) technology. At a recent event, Bollywood icon Boney Kapoor shared his transformative experience, praising Eugenix for restoring his confidence and rejuvenating his appearance. Filmmaker Anees Bazmi also endorsed the clinic, highlighting its growing reputation among high-profile clients. The Agartala market is emerging as a promising hub for premium hair restoration services. With increasing awareness of self-care and aesthetic solutions, residents are showing interest in Eugenix’s cutting-edge technology and personalized care. The clinic’s success in delivering…

28 Dec

Jersey Electricity reports 8.5% revenue increase in 2024

Priyanka RoyBusiness, latest

JERSEY - Jersey Electricity plc has announced its financial results for the year ended September 30, 2024, reporting an 8.5% increase in revenue to £135.7 million. The company, which has been a major player in the island's energy sector for a century, recorded a profit before tax of £15.1 million, a slight improvement on the previous year's £14.9 million. The Board recommended a final dividend of 12.00p per share for the year, an increase of 5.3% from the 2023 dividend. This, combined with the interim dividend, brings the total dividend for the year to 19.80p per share. The final dividend…

28 Dec

Multicap Momentum Quality Index Fund is introduced by Tata AIA

Business BureauBusiness

Tata AIA Life Insurance has announced the launch of the Tata AIA Multicap Momentum Quality Index Fund, a unique investment product that combines the benefits of long-term capital appreciation with life cover and health management services. The New Fund Offer (NFO), open from 24th to 31st December 2024, aims to replicate the Nifty 500 Multicap Momentum Quality 50 Index, focusing on momentum-driven, high-quality stocks across large-cap, mid-cap, and small-cap segments. The fund will invest 80%-100% in equity and equity-related instruments, ensuring strong growth potential, with 0%-20% in cash and money market instruments for liquidity. HarshadPatil, Executive Vice President and CIO…

27 Dec

Aluminium futures prices gain due to fresh deals

Priyanka RoyBusiness, latest

New Delhi, December 27: Aluminium prices rose by 25 paise to Rs 241.65 per kg in the futures market on Friday due to fresh deals by speculators amid positive trend in the spot market. The price of aluminium contract for January delivery rose by 25 paise or 0.1 per cent to Rs 241.65 per kg in Multi Commodity Exchange in which 3,245 lots were traded. Analysts said that fresh deals by traders amid demand from consumer industries supported aluminium prices in the futures market.

26 Dec

Crude oil futures rise amid strong US data and rising imports from India

Priyanka RoyBusiness, latest

January crude oil futures on MCX were trading at ₹5934 in the early hours of trade on Tuesday. Crude oil futures rose on Tuesday morning following strong US economic data and rising demand from India. February crude oil futures on WTI (West Texas Intermediate) were up 0.44 per cent at $72.64, and February crude oil futures on WTI (West Texas Intermediate) were up 0.42 per cent at $69.53. On the Multi Commodity Exchange (MCX) in the early hours of trade on Tuesday, January crude oil futures were trading at ₹5934 as against the previous close of ₹5,901, up 0.56 per…

23 Dec

1% expansion in market capitalisation leads to 0.6% increase in gross domestic product (GDP) growth rate: SBI Eco Research

Priyanka RoyBusiness, latest

A report by the SBI Economic Research Department said that an increase in market capitalisation strengthens the economy and boosts investor confidence, thereby boosting overall economic growth. Also, the report claimed that a one per cent increase in market capitalisation leads to a 0.6 per cent increase in gross domestic product (GDP) growth rate. "Impulse response suggests that a 1 standard deviation shock in market capitalisation has a positive impact on the real economy, with the effect dissipating after three time periods," the report said. It also mentioned that Granger causality analysis suggests that an increase in market capitalisation Granger-causes…