News

IGL share price jumped nearly 4 per cent in mid-day trade on December 5 after the city gas distributor announced that the board will consider a proposal to issue bonus shares on December 10. "It is notified that the Board of Directors is scheduled to meet on December 10, 2024 to consider a proposal to issue bonus shares in the prescribed proportion to the equity shareholders of the company, subject to the approval of the shareholders," a statement issued by the company on December 4 said. The company has not announced the bonus ratio and is likely to announce it on December 10. IGL stock reacted sharply to the announcement of the company's corporate action and the stock rose 3.82 per cent in morning trade to hit an intraday high of Rs 374 per share on the NSE. The stock opened...

Funding raised by non-banking financial companies (NBFCs) from mutual funds (MFs) grew nearly 47 percent year-on-year (Y-o-Y) to Rs 2.33 trillion in October 2024. Sequentially, funding support by MFs to NBFCs increased by 0.3 percent compared to September, according to CARE Ratings. Mutual funds (MFs) credit exposure to NBFCs, which includes commercial paper (CP) and corporate debt, has remained above Rs two trillion for more than half a year now. Moreover, CP has remained above the one trillion mark for almost a year, currently at Rs 1.22 trillion. Banks' credit exposure to NBFCs stood at Rs 15.4 trillion in October 2024, showing a growth of 6.4 per cent year-on-year. On a month-on-month (m-o-m) basis, the amount increased by 0.5 percent. However, the proportion of NBFC exposure re...

Shares of Tata Power surged over 4 percent following the release of its Q2FY25 results, with several brokerages reaffirming their 'buy' ratings.Elara Securities said 'buy' while raising its target price on the stock from Rs 463 to Rs 518 and upgrading its rating from 'accumulate'.Other brokerages including Motilal Oswal Financial Services, JM Financial and Nomura also retained their 'buy' ratings.Morgan Stanley also expressed optimism and maintained an 'highweight' rating on Tata Power and set a higher target price of Rs 577.In contrast, Nuvama expressed a cautious outlook citing high valuations and retained its 'reduce' rating on the stock. Similarly, Jefferies maintained an 'underperform' rating on Tata Power with a lower target price of Rs 340. At 1:45 pm, Tata Power was trading 3.6 pe...

Tata Motors Limited on Sunday said total sales in November rose marginally to 74,753 units as against 74,172 units in the same month last year. Tata Motors said in a statement that total domestic sales last month rose 1 per cent to 73,246 units as against 72,647 units in November 2023. The company said total passenger vehicle (PV) sales, including EVs, stood at 47,117 units as against 46,143 units in the same month a year ago, up 2 per cent. Similarly, domestic PV sales, including EVs, rose 2 per cent to 47,063 units as against 46,068 units in November 2023. Total commercial vehicle sales last month declined by 1 per cent to 27,636 units as against 28,029 units in the same period last year.

Maruti Suzuki India on Sunday reported that its total sales in November grew 10 percent year-on-year to 1,81,531 units.The automaker had dispatched 1,64,439 units to its dealers in November last year.Total domestic passenger vehicle wholesales stood at 1,41,312 units as against 1,34,158 units in the same month a year ago, a growth of 5 percent.Sales of mini segment cars, including Alto and S-Presso, stood at 9,750 units as against 9,959 units in November 2023. The Sales of compact cars including Baleno, Celerio, Dzire, Ignis, Swift, Tour S and WagonR declined to 61,373 units as against 64,679 units in the same month a year ago.Sales of utility vehicles such as Brezza, Ertiga, Grand Vitara and XL6 stood at 59,003 units last month as against 49,016 units earlier. Van Eeco sales stood at 10,...

Shares of recently listed NTPC Green Energy gained 4% during today's session to hit Rs 127.55 on the BSE after the company announced successful commissioning of the first phase of the 105 MW Shajapur Solar Project having a capacity of 55 MW. In accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that, after successful commissioning, NTPC Renewable Energy Limited, a wholly owned subsidiary of NTPC Green Energy Limited, has announced the first tranche capacity of 55 MW out of the 105 MW Shajapur Solar Project (Unit-I) at Shajapur, Madhya Pradesh to come into commercial operation from 0:00 AM on November 29, 2024. Despite poor market sentiment, the stock has inflation 18% in just two days from its IPO pric...

Bank of India stock closed 3.48% higher at Rs 111.90 on the BSE. The bank's market cap stood at Rs 50,762 crore. Bank of India shares surged after the lender said it has issued long term bonds (infrastructure) worth Rs 5,000 crore on a private placement basis. Bank of India stock closed 3.48% higher at Rs 111.90 on the BSE. The bank's market cap stood at Rs 50,762 crore. A total of 4.87 lakh shares were traded on the BSE, generating a turnover of Rs 5.33 crore. The stock is neither trading in the overbought nor in the oversold zone, indicated by its relative strength index (RSI) which is at 52.6. The one-year beta of Bank of India stock is 1.4, indicating very high volatility during this period. Bank of India shares are trading higher than 10-day, 20-day, 30-day, 50-day but lower...

Shares of Swiggy Ltd, a leading player in food delivery and instant commerce, jumped 6 per cent to Rs 456 in morning trade on November 26, after UBS initiated coverage with a 'buy' rating. The brokerage highlighted Swiggy's strong growth prospects and set a target price of Rs 515, implying a potential upside of about 27 per cent from current levels. UBS pointed out that Swiggy is well positioned for growth, currently trading at a 35 per cent discount to Zomato.The stock rose 6.2 per cent to Rs 458 compared to its previous close of Rs 431.25 on the BSE, taking the company's market capitalisation to Rs 1 lakh crore. A total of 4.96 lakh shares were exchanged, resulting in a turnover of Rs 22.11 crore on the BSE.UBS noted that Swiggy is narrowing the gap with Zomato in terms of margins and s...

NTPC shares rose 3 per cent in morning trade on November 25 to hit Rs 377, continuing its gains for the second consecutive trading session after Bernstein maintained an 'outperform' rating on the company and raised the target price.With a target price of Rs 440, the international brokerage forecasts a 20.5 per cent upside from current market levels, citing strong power demand, lack of evening hours and the company's debt-cost advantage as key drivers.While analysts do not see any significant upside beyond these factors, they are also not expecting downside risk. NTPC shares are currently valued at 16 times FY25 earnings and 10 times EV/EBITDA, which is aligned with global peers.Boosting NTPC's prospects, its renewable energy arm, NTPC Green Energy, recently completed a Rs 10,000 crore IPO...