Business

According to a statement issued by the Union Ministry of New and Renewable Energy (MNRE) on Monday, India's total renewable energy installed capacity recorded a robust double-digit growth of 15.84 percent by December 2024, rising from 180.80 GW in December 2023 to 209.44 GW. The total capacity added during 2024 was 28.64 GW, showing a significant year-on-year growth of 119.46 per cent, compared to 13.05 GW added in 2023, the statement said. The solar energy sector led this growth with an addition of 24.54 GW, representing a 33.47 per cent increase in its cumulative installed capacity, from 73.32 GW in 2023 to 97.86 GW in 2024. Wind power also contributed to this expansion, with an additional 3.42 GW installed in 2024 taking the total wind capacity to 48.16 GW, an increase of 7.64...

Tech Mahindra Ltd shares rose 3.51 per cent on January 10, contributing to the positive momentum of the Nifty IT index, which was the only sector to gain in the overall Indian stock market today. It also marks the highest one-day gain for the stocks in a 21-week period. Tech Mahindra Ltd is expected to announce its Q3 FY25 financial results after market close on January 17, 2025. The shares are currently trading at Rs 1,704.45, up 3.75 per cent at 12:11 pm on January 10. In an exchange filing, Tech Mahindra informed that its board of directors will meet on Friday, January 17, 2025. The primary agenda of this meeting is to consider and approve the company's financial results for the quarter ended December 31, 2024. The earnings are expected to be announced after the market closes,...

Driven by Zomato's food delivery business and Blinkit's GMV growth, homegrown brokerage firm Kotak Institutional Equities has retained its 'buy' rating on the stock with a target price of Rs 305, as it expects the company to perform well in the third quarter.This implies an upside potential of 22.3% for the stock from current levels."We expect food delivery to report sequential contribution margin improvement driven by higher platform fees. Rapid store additions at Blinkit (moving towards 1,000-store target) and higher customer acquisition costs (CAC) may weigh on EBITDA margins," Kotak Equities said in its report.The brokerage firm expects 19% YoY growth in food delivery GMV and 114% YoY growth in Blinkit GMV.Additionally, contribution margin is estimated to reach 7.8% of GMV, indicating...

Gold prices rose ₹61 to ₹77,592 per 10 grams in futures trade on Wednesday (January 8), supported by fresh positions by speculators and persistent demand in the spot market.Gold prices also rose marginally globally.In New York, gold futures rose 0.10% to $2,651.27 an ounce.Buying by central banks is supporting gold prices. Global central banks added 53 tonnes to their reserves in November 2024.The Reserve Bank of India (RBI) added 8 tonnes to its gold reserves last month, taking its total purchases for this year to 73 tonnes.This strengthened India's position as the second-largest buyer of gold in 2024 after Poland.China also expanded its reserves by 5 tonnes in November, indicating rising demand amid global economic uncertainty."Central bank purchases continue to be a key driver for gold...

Suzlon Energy share price today: Shares of renewable energy provider Suzlon Energy Ltd fell over 4% on Monday after it received an income tax demand of Rs 1.01 crore for FY17 from the Ahmedabad Income Tax Department. The multibagger stock fell 4.43% to Rs 59.21 on the BSE against its previous close of Rs 61.96. The company's market cap stood at Rs 80,915 crore. The company said in an exchange filing that the demand relates to penalty imposed for not allowing late payments relating to employee contributions to PF/ESI during FY17. The company plans to appeal against the penalty and is confident of a favourable outcome. Suzlon Energy stock has gained 46% in one year and 481% in two years. The multibagger stock clocked a turnover of Rs 34.89 crore on BSE in today's session with a tur...