Business

NAVI MUMBAI: Onion prices, which have become a burden on consumers' pockets, have fallen sharply by about 50% in the last week. This is due to the arrival of new crop and the imposition of duty on export. Vegetable traders said that as more fresh stock reaches the market, prices will fall further. Wholesale prices at the Vashi APMC (Agricultural Produce Market Committee) market, which supplies the Mumbai Metropolitan Region, have come down from ₹45-50 per kg last week to ₹20-25 per kg on Friday. Traders said that prices in the retail market have come down from ₹80-90 per kg to ₹60-70 per kg. Ashok Karpe, a wholesale onion trader at the APMC market, said, "The new crop this winter is very good. It is reaching the market in large quantities mainly from Ahmednagar, Nashik, Sangamner an...

BASF India shares rose over 5% in early trade on December 20 after the board approved splitting its agriculture solutions business into a separate listed entity. The move is in line with German parent BASF SE's decision to separate the agriculture solutions business by 2027. The Indian entity said BASF SE is also preparing for a potential initial public offering (IPO) of its global agriculture solutions business, and is also evaluating the option of listing a 'minority share' in the mid-term. BASF India said it will assess the implications of the new strategy for its India business. The BASF India statement said it has "given its in-principle approval for the splitting of the company's agriculture solutions business into a separate listed legal entity. This will help provide operati...

Consulting major Accenture's higher guidance for the full year as well as the second quarter has led to a more than 7% rise in its share price in the US market in early trade, which also impacted ADRs of Indian IT majors Wipro and Infosys, which rose 2.3% and 3%, respectively, in early trade on the New York Stock Exchange on December 19. Currency market-related headwinds and concerns over government spending had dampened market expectations on revenue growth. However, the global IT major beat Wall Street estimates on the back of customer demand for AI-powered tools, as CEO Julie Sweet pointed to a 'strong start to FY25'. Accenture's GenAI business recorded new bookings of $1.2 billion during Q1FY25. According to LSEG data cited by Reuters, first quarter revenues came in at $17.7 bil...

New Delhi: Shares of Vishal Mega Mart Ltd on Wednesday jumped 41 per cent in early trade against the issue price of Rs 78. The stock listed on the BSE at Rs 110, up 41 per cent from the issue price. Later, it rose 42.24 per cent to Rs 110.95. On the NSE, it listed at Rs 104, up 33.33 per cent from the issue price. Vishal Mega Mart's market valuation stood at Rs 48,644.57 crore. Vishal Mega Mart's Rs 8,000 crore initial public offering was subscribed 27.28 times on the last day of bidding on Friday. The initial public offering (IPO) was priced at Rs 74-78 per share. The IPO of the Gurugram-based supermarket major was entirely an offer for sale (OFS) of shares by Samayat Services LLP, a subsidiary of promoter Kedaara Capital-led Samayat Services LLP, with no fresh issue of...

The housing finance market in Gujarat is facing a paradox – fewer people are borrowing, but those who are borrowing are borrowing in larger amounts. According to the latest State Level Bankers Committee (SLBC) report, the number of home loan borrowers saw a sharp decline of 39.6%, from 1.58 lakh accounts in the September quarter of FY24 to just 95,532 accounts in the same period of FY25. Despite the sharp decline in loan accounts, total disbursements grew by 32%, led by a remarkable 118% increase in loan ticket size – from Rs 6.82 lakh to Rs 14.93 lakh per account. This trend clearly indicates that affordable housing demand has lagged behind, while high-value properties continue to hog the limelight. While high-value properties are shining, the absence of affordable buyers indicates an...