Business

Shares of Raymond surged 8% in two days, hitting a high of Rs 2,179 on the BSE on Wednesday, ahead of the listing of its lifestyle business, Raymond Lifestyle (RLL), on the stock exchanges on Thursday.Brokerages also see it as a transformational move for the company that is synonymous with legacy brands like Park Avenue, Raymond, ColorPlus and Parx.Domestic brokerage firms Motilal Oswal and Ventura are optimistic about the company's future prospects.“Currently RLL has 5% market share in the Rs 750 billion menswear market, as the wedding season contributes 35-40% to the revenue (Rs 25-35 billion in FY24). The company continues to focus on premium wedding collections and aims to grow its market share to 6-7% with a revenue CAGR target of 15%. The marriage format also delivers 300bp higher g...

Shares of driver-driven mobility provider ECOS India Mobility & Hospitality ended with a 32 percent premium against the issue price of Rs 334 on September 4.The stock opened at Rs 391.30, up 17.15 percent from the issue price on BSE. During the day, it rose 36.52 percent to Rs 456. Shares of the company finally closed at Rs 441.05 with a gain of 32.05 percent.On NSE, the company's shares were listed at Rs 390 with a premium of 16.76 percent. The stock closed at Rs 441.05, showing a rise of 32.05 percent.The market valuation of the company stood at Rs 2,646.30 crore.In terms of trading volume, 22.82 lakh shares of the firm were traded on BSE and 327.63 lakh shares on NSE during the day.The initial share sale of Echos (India) Mobility and Hospitality was subscribed 64.18 times on the cl...

Total sales inflation of listed private non-financial companies stood at 6.9 percent  in the April-June quarter of the current financial year (FY25), compared with 2.1 percent growth in the year-ago period. The data from the Reserve Bank of India (RBI) issued.Sales inflation in the last quarter (January-March) of FY24 was 6.9 percent.Private corporate business sector performance data for Q1 FY25 shows that net profit of listed non-government non-financial companies grew 14.2 per cent, from 9 percent in the year-ago period, and 6.4 percent in Q4 FY24 . , The analysis is based on quarterly financial results of 2,934 listed non-government non-financial companies.All major sectors, manufacturing (67.5 percent share in total sales), information technology (IT) (10.1 percent), non-IT servi...

India's real gross domestic product (GDP) growth is set to fall to a five-quarter low of 6.7 per cent in April-June 2024-25 due to slow growth in agriculture, government spending and services, according to data released by the National Statistical Office (NSO).The quarterly GDP growth rate for Q1, which fell below the 7 percent mark for the first time in a year, came in at 7.8 percent, much lower than the 7.1 percent estimate given by the Reserve Bank of India (RBI). The previous quarter saw an increase of 8.2 percent and the year-ago quarter saw an increase of 8.2 percent.However, the manufacturing and construction sectors showed strong signs of growth with growth rates of 7.0 percent and 10.5 percent respectively in April-June as against growth of 5 percent and 8.6 percent in the year-a...

Moody's Ratings raised India's growth forecast for 2024 to 7.2 percent from an earlier estimate of 6.8 percent, projecting a pick-up in private consumption.The global rating agency said on August 29 that the Indian economy is also expected to grow at a faster rate of 6.6 percent in 2025, compared to the earlier estimate of 6.4 percent.“Global growth is stabilizing and inflation is close to the central bank's target in most markets. We expect global growth to slow in 2024 and 2025 from 3.0% in 2023 to 2.7% and 2.5%, respectively. Although growth trends vary across countries, Moody's expects no change in the global outlook. Said while predicting.The Indian economy grew by 7.8 percent in the first quarter of 2024. Data for the April-June quarter will be available on August 30.Growth is likel...

Shares of Bajaj Finserv and Bajaj Finance rose on Monday ahead of the announcement of mortgage lender Bajaj Housing Finance's Rs 7,000 crore initial public offering (IPO).The IPO is expected to Effectual the market during the first half of September.The IPO will have a special quota for shareholders of Bajaj Finserv and Bajaj Finance, both of which are classified as 'promoters'.Shares of Bajaj Finserv rose 2.84 percent, while Bajaj Finance gained 0.6 percent. Bajaj Finance holds 100 percent stake in Bajaj Housing, while Bajaj Finserv holds 51.34 percent stake in Bajaj Finance. Bajaj Housing's IPO will involve a share sale of Rs 3,000 crore by Bajaj Finance and a fresh fund raising of Rs 4,000 crore.The fresh funds will be raised to boost its capital base for future borrowing requirements....

"Vietnam electricity exports boost, India's imports increased by 17%".India has seen a significant increase in imports of electrical machinery and parts from Vietnam in the first seven months of 2024. Imports from Vietnam rose 17% to $5.8 billion between January and July, according to analyzed commerce ministry data. Same period last year.A closer look at trade numbers shows that electrical machinery and parts, which make up a large share of imports from Vietnam, grew by a substantial 43% in the first 5 months of 2024 compared to a year earlier. This strong double-digit growth highlights Vietnam's growing prominence as a leading supplier of electrical goods and components to the Indian market.Experts attribute Vietnam's export success to Chinese companies shifting their operating bases to...