Business

State-run Indian Renewable Energy Development Agency (IREDA) Ltd. reported its business update for the April-September period in an exchange filing on Monday evening.For the first half of the current financial year, which ended on September 30, the loans sanctioned by IREDA increased by 303% from last year to ₹17,860 crore from ₹4,437 crore worth of loans that it sanctioned during the same period last year. In terms of disbursements, IREDA disbursed 56% more loans in the period that ended on September 30, compared to the same half last year. The company disbursed loans worth ₹9,787 crore, compared to ₹6,273 crore last year. At the end of the first half, IREDA's loan book outstanding stood at ₹64,500 crore, which is a 36% growth from the year-ago quarter, when the PSU's loan book sto...

New Delhi: Motorcycle maker Royal Enfield on Wednesday said its total wholesales grew 11 per cent year-on-year to 86,978 units in September.The company had dispatched 78,580 units in September 2023.Sales in the domestic market grew 7 per cent to 79,326 units from 74,261 units in the same period last year, Royal Enfield said in a statement.Exports rose from 4,319 units in September last year to 7,652 units last month.B Govindarajan, CEO, Royal Enfield said, “We have registered consistent growth in the month of September owing to our recent launches. The 2024 Classic 350 continues to solidify its iconic status and popularity among riders and is performing well.”He added that the company's momentum will only increase as it continues to innovate and deliver pure motorcycling experience.

Mumbai Adani Airport Holdings is raising Rs 1,950 crore through non-convertible debentures (NCDs) with the primary objective of providing inter-company loans to various airports, including Ahmedabad, Lucknow, Mangalore, Jaipur, Guwahati and Thiruvananthapuram.The NCDs with a coupon rate of 9.35% per annum will primarily cover payments made to the Airports Authority of India relating to prior period regulatory assets approved by the Airports Economic Regulatory Authority of India (AERA).The NCDs have received A+/Stable rating from both India Ratings and Crisil Ratings. Axis Bank and Trust Investment Advisors Pvt are the organisers of the issue which will open on September 30, 2024 with a tenure of 3 years, 11 months and 7 days.

Shares of Ola Electric Mobility declined over 4 per cent on September 30, pushing the stock below the Rs 100 mark for the first time since its listing on the bourses. Moreover, the stock has been in the red in 12 of the last 14 sessions.According to this, it has fallen by more than 16 percent in the last one month. At 12.22 pm, Ola Electric Mobility shares were trading at Rs 98.80 on NSE.The company recently launched its 'Network Partner Program' to expand EV penetration in tier-2 and tier-3 cities. Ola Electric has already onboarded 625 partners to expand its sales presence across India, and plans to reach 1,000 partners before the upcoming festive season.Brokerage firm HSBC pointed out in a recent note that it visited several Ola service stations and found many were overwhelmed with ser...