Business

06 Nov

New Shillong to host modern industrial zones for economic growth

TanupriyaBusiness, Meghalaya, North Eastshillong

In a significant move, the state cabinet on Tuesday changed the Meghalaya construction regulations to allow for the creation of industrial zones in the township of New Shillong. Speaking to the media after the cabinet meeting, Tourism Minister Paul Lyngdoh stated that the amendment's goal is to classify the industrial zones in the New Shillong township. The objective behind this move is to regulate the construction of the buildings in the industrial zones of Mawhanu and Mawkasiang under the newly formed Shillong township area. “The amendment is broadly to facilitate the need to categorize the industrial zones as categorization was…

05 Nov

Bajaj Auto’s total vehicle sales in October progress by 2% to 4,79,707 units

Priyanka RoyBusiness, News

Mumbai: Bajaj Auto on Monday reported a 2 percent rise in total vehicle sales, including commercial vehicles and exports, at 4,79,707 units in October this year as against 4,71,188 units in the same month of 2023. Bajaj Auto Ltd said total domestic sales during the month under review declined 8 per cent to 3,03,831 units as against 3,29,618 units sold in the same month of 2023, while exports stood at 1,75,876 units as against 1,41,570 units a year ago.However, total two-wheeler sales increased by two percent to 4,14,372 units in the month under review, as against 4,08,144 two-wheelers sold in…

04 Nov

Partha Pratim Sengupta steps in as MD & CEO of Bandhan Bank, aims for inclusive growth

Business BureauBusiness

Bandhan Bank has officially appointed Partha Pratim Sengupta as its new Managing Director and CEO, effective November 1, 2024. A veteran with close to four decades in the banking sector, Sengupta has held pivotal roles across institutions like Indian Overseas Bank and State Bank of India, where he led significant growth initiatives in credit and technology. He succeeds Ratan Kumar Kesh, who served as interim MD & CEO since July and now returns as Executive Director and Chief Operating Officer. Dr. Anup Kumar Sinha, Chairman of Bandhan Bank, expressed optimism about Sengupta’s leadership, highlighting his track record and the critical…

04 Nov

Reliance Industries’ share price fell 4% on Monday

TanupriyaBusiness

Due to strong selling pressure, Reliance Industries' share price fell 4% on Monday, hitting a nine-month low. The year-to-date (YTD) returns on Reliance shares are now negative due to this steep drop. RIL's market value shrank to over 17.40 lakh crore as the company's stock price fell as much as 4.03% during intraday trading on the BSE, to a low of 1,285.10 per share. Since its 52-week peak of 1,608.95 per share (adjusted for a 1:1 bonus), which was reached on July 8, Reliance stock has already dropped more than 20%. As of November 4, Reliance's stock has lost 0.5%…

04 Nov

Oil prices expansion over 1% as OPEC+ delays production hike

Priyanka RoyBusiness, News

BEIJING, Nov 4 (Reuters) - Oil prices rose more than $1 in early trade on Monday after OPEC+ said on Sunday it would postpone a planned increase in output in December by a month due to weak demand and rising supplies outside the group.Brent futures rose $1.18 a barrel, or 1.61%, to $74.28 a barrel by 0121 GMT. US West Texas Intermediate (WTI) crude rose $1.20 a barrel, or 1.73%, to $70.69.OPEC+, which includes the Organization of the Petroleum Exporting Countries, Russia and other allies, was to increase output by 180,000 barrels per day (bpd) from December.It means the group…

02 Nov

Tata Power shares jump 4%, brokerages retain ‘buy’ rating after Q2 results

Priyanka RoyBusiness, News

Shares of Tata Power surged over 4 percent following the release of its Q2FY25 results, with several brokerages reaffirming their 'buy' ratings.Elara Securities said 'buy' while raising its target price on the stock from Rs 463 to Rs 518 and upgrading its rating from 'accumulate'.Other brokerages including Motilal Oswal Financial Services, JM Financial and Nomura also retained their 'buy' ratings.Morgan Stanley also expressed optimism and maintained an 'overweight' rating on Tata Power and set a higher target price of Rs 577.In contrast, Nuvama expressed a cautious outlook citing high valuations and retained its 'reduce' rating on the stock. Similarly, Jefferies…

30 Oct

Bandhan Bank shares up surge 9% on Q2 earnings; here are new price targets

Priyanka RoyBusiness, News

The banking stock touched an intraday high of Rs 184.40, up 9.56 per cent on the BSE. A total of 13.65 lakh shares of the firm were traded, generating a turnover of Rs 24.70 crore. Bandhan Bank shares surged over 9 per cent today after the lender reported its Q2 earnings. The banking stock touched an intraday high of Rs 184.40, up 9.56 per cent on the BSE. A total of 13.65 lakh shares of the firm were traded, generating a turnover of Rs 24.70 crore. The market capitalisation of the bank rose to Rs 29,440 crore on the BSE.…

29 Oct

Federal Bank shares rise over 7%, Q2 net profit boost 11% to Rs 1,057 crore

Priyanka RoyBusiness, News

The private sector bank on Monday reported an 11 percent inflation in its net profit to Rs 1,057 crore in the September quarter as against Rs 954 crore in the same quarter a year ago.The bank's share price jumped sharply due to the huge profits and the stock gained 4.84 per cent in Tuesday's trading session.Later, the stock rose 7.83 per cent to hit its intraday high of Rs 199.49 per share on NSE. The stock gained momentum after two consecutive days of decline on the exchanges.A total of 11.50 lakh shares of Federal Bank were traded today. This bank…

29 Oct

Dolby & BTS’s Jin team up for “I’ll Be There” in Dolby Atmos

Business BureauBusiness

Dolby Laboratories, Inc. (NYSE: DLB), a leader in immersive entertainment experiences, is teaming up with Jin of 21st century pop icons BTS in the latest chapter of the “Love More in Dolby” global brand campaign. Jin stars in the commercial to celebrate his new single “I’ll Be There,” which is now available globally in Dolby Atmos. Following the single “I’ll Be There,” Jin’s highly anticipated first solo album Happy is set to release in Dolby Atmos worldwide on November 15th. "When I first heard my new music in Dolby Atmos, I was truly amazed by the incredibly vivid and immersive…

28 Oct

slice completes its merger with North East Small Finance Bank

Business BureauBusiness

slice, India’s leading consumer payments and lending company has successfully completed its merger with North East Small Finance Bank (NESFB), effective from 27th October 2024, following the receipt of all requisite shareholder and regulatory approvals. This merger unifies the operations, assets, and brand identities of both entities into a single, integrated banking institution. This merger marks a pivotal milestone in India’s financial landscape, combining the innovation of a leading fintech with the trusted foundation of a traditional banking institution. This strategic integration sets the foundation for building India’s foremost tech-driven bank, prioritizing stability, risk management, and a robust governance framework…