Business

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…

02 Jan

Air India Express expands network; adds Phuket and Dibrugarh to its routes

Business BureauBusiness

Air India Express is broadening its footprint with the introduction of direct flights between Hyderabad and Phuket, Thailand, starting January 31, 2025. The service will initially operate three times a week, increasing to daily flights by February 15. Special inaugural fares are available, starting from ₹10,500, with additional discounts for loyalty members on the airline's website and mobile app. In a significant domestic move, Dibrugarh, Assam, has been added to the airline’s network. Starting February 1, 2025, Air India Express will operate direct flights from Dibrugarh to Guwahati, with onward connectivity to Delhi. This new route is poised to benefit…

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…