latest

16 Dec

Coal imports progress 4% to 162 million tonnes in April-October period

Priyanka RoyBusiness, latest

The country's coal imports rose 4.2 percent to 162.45 million tonnes (MT) in the April-October period of the current fiscal, as against 155.87 MT in the same period a year ago. According to data compiled by B2B e-commerce platform mjunction Services, coal imports fell 14.4 percent to 21.84 MT in October, as against 25.54 MT in the same period last fiscal. Of the total imports in October, non-coking coal imports stood at 13.49 MT, as against 18.82 MT in the same period last fiscal. Coking coal imports stood at 4.45 MT, as against 4.31 MT in the same period last…

14 Dec

Passenger vehicle deliveries progress 4% in November as demand remains strong post festive season: SIAM

Priyanka RoyBusiness, latest

Industry body SIAM on Friday said passenger vehicle deliveries from companies to dealerships in November rose 4 per cent year-on-year to 3,47,522 units, as against October's festive season as demand remained strong. Total passenger vehicle deliveries stood at 3,33,833 units in November last year. Market leader Maruti Suzuki India dispatched 1,41,312 vehicles to its dealers last month, up 5 per cent from 1,34,158 vehicles in November last year. Hyundai Motor India dispatched 48,246 vehicles last month, up 49,451 in November last year. Mahindra & Mahindra sales stood at 46,222 vehicles last month, up 16 per cent from 39,981 vehicles sold…

13 Dec

Indian Oil shares inflation 3% after Jefferies gives ‘buy’ rating, expects 31% upside

Priyanka RoyBusiness, latest

Shares of Indian Oil Corporation Limited (IOCL) rose 3 per cent to Rs 145 in morning trade on December 13. The stock markets snapped their two-day losing streak after Jefferies upgraded the stock to buy and raised the target price citing strong future growth prospects. With a target price of Rs 185, the international brokerage has projected an upside potential of over 31 per cent from the last closing price of Rs 141 on the National Stock Exchange. Shares of IOCL have declined 18 per cent in the last three months. The previous target price by Jefferies was Rs 165.…

12 Dec

Vedanta shares gain 12%; board to decide on fourth interim dividend on December 16

Priyanka RoyBusiness, latest

Anil Aggarwal-led mining and natural resources conglomerate Vedanta Ltd has grabbed investor attention ahead of its board meeting scheduled for December 16, where it will consider a fourth interim dividend. Dividend announcement sparks interestThe board meeting, which was earlier planned for October but postponed due to unforeseen circumstances, will now determine the fourth interim dividend payout for FY25. Vedanta has already declared three interim dividends this fiscal, totalling Rs 35 per share. The latest announcement made in September saw a dividend of Rs 20 per share after earlier payouts of Rs 11 and Rs 4, respectively. The record date for…

11 Dec

Indian Overseas Bank to get Rs 1,359 crore IT refund for AY15-16; shares progress

Priyanka RoyBusiness, latest

Shares of public sector bank Indian Overseas Bank (IOB) jumped three per cent in the morning session on December 11 after the state-owned bank received an order confirming refund of Rs 1,359.29 crore for the assessment year 2015-16, including interest. "We wish to inform you that the order was received through the Income Tax portal on December 10, 2024 and the Bank also received the information regarding the said order on December 10, 2024," the bank said in a communication to the stock exchanges. At 9.15 am, shares of Indian Overseas Bank rose 3.4 percent to Rs 38.85 on the…

10 Dec

Tata Motors to progress passenger vehicle prices by up to 4% from January 2025

Priyanka RoyBusiness, latest

In a series of announcements, leading automobile manufacturers Tata Motors, Maruti Suzuki and Kia India have announced price hikes for their passenger vehicle portfolios from January 2025.Tata Motors, India's largest automaker, revealed that it will increase prices by up to 3% across its entire range, including electric vehicles (EVs). The hike, effective from January 2025, will vary by model and variant. The move is aimed at partially mitigating the impact of rising input costs and inflation.Kia India also announced a price hike of up to 2% across its entire lineup, effective from January 1, 2025. This adjustment is due to…

09 Dec

Adani Ports shares surge on government nod for petroleum import

Priyanka RoyBusiness, latest

Adani Ports shares have gained 21 per cent in a year and 24 per cent since the beginning of this year. Shares of Adani Ports and Special Economic Zone on Monday gained over 1 per cent after Adani Group company M/s Adani Krishnapatnam Port Ltd was notified to import petroleum by sea into India in public interest. The Ministry of Ports, Shipping and Waterways gave the approval for the extension in a notification. Adani Ports stock rose 1.22 per cent to Rs 1275.75 on BSE as against the previous close at Rs 1260.25. The market capitalisation of Adani Ports reached…

07 Dec

Maruti Suzuki car prices to progress by up to 4 percent from January 2025

Priyanka RoyBusiness, latest

Maruti Suzuki has cited price hike as the reason behind its recent move. Other car brands including JSW, MG Motors and Hyundai have also taken similar decisions. Maruti Suzuki India Limited has announced that it will raise the prices of its cars from January 2025. The increase will be up to 4 per cent and will vary depending on the specific car model. The company explained that the decision has been taken as a result of higher costs of materials and running the business. While Maruti Suzuki is working hard to keep costs low and minimise the impact on buyers,…

06 Dec

Indus Towers shares inflation 5% after Vodafone sells stake

Priyanka RoyBusiness, latest

Indus Towers jumped 5% to hit an intra-day high of Rs 375 after British telecom giant Vodafone Group sold its remaining 3% stake in the company. This sale of 79.2 million shares was done through an accelerated book-build offering. The decision is part of Vodafone's larger plan to divest from its investments in India, simplify its operations and strengthen its financial position. The company intends to use the funds primarily to settle borrowings of $101 million secured by its assets in India. The announcement comes after Vodafone sold an 18% stake in Indus Towers due in June 2023, raising proceeds…

05 Dec

Suzlon shares flourish 3% after it secures 302.4 MW wind power project order from Jindal Renewables

Priyanka RoyBusiness, latest

Shares of wind energy solutions provider Suzlon Energy on Wednesday rallied 3% to hit an intraday high of Rs 67.3 on the BSE after the company announced an extended partnership with Jindal Renewables.This latest development comes after Suzlon secured a 302.4 MW wind power project order from Jindal Renewables subsidiary JSP Green Wind 1 Pvt Ltd in Koppal region of Karnataka. The project aims to accelerate India's green steel production.Suzlon Energy now has its largest ever commercial and industrial (C&I) order from a single customer, after it secured a 400 MW captive wind power project from Jindal Renewables in the…