News Archives - Page 26 of 41

Centre reports 312% rise in fake ₹500 notes, 166% upsurge in ₹2,000 notes over past 5 years

28Nov

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Centre reports 312% rise in fake ₹500 notes, 166% upsurge in ₹2,000 notes over past 5 years

New Delhi:The Centre has reported a huge increase in the number of counterfeit notes over the past five years. The number of fake ₹500 notes has risen by 312%, while the number of fake ₹2,000 notes has increased by 166%, according to figures from the Ministry of Finance. This information was provided by Minister of State for Finance Pankaj Chaudhary in response to a question from DMK MP T M Selvaganapathy. However, the Centre also reported a 15% decrease in fake ₹500 notes in the 2024 fiscal year. The number of counterfeit ₹500 notes had increased by 102% in the 2022 fiscal year. Despite the rise in fake ₹500 and ₹2,000 notes, the overall number of counterfeit notes has seen a 30% reduction, according to government data. In the 2018-19 fiscal year, 21.865 million fake ₹500 notes wer...

Bank of India completes Rs 5,000 crore bond sale, stocks inflation

27Nov

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Business, News

Bank of India completes Rs 5,000 crore bond sale, stocks inflation

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...

Swiggy shares gain 6% after UBS initiates coverage, analysts expect up to 26% surge

26Nov

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Business, News

Swiggy shares gain 6% after UBS initiates coverage, analysts expect up to 26% surge

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 inflation 3% on Bernstein’s ‘outperform’ call; sees 20% rally

25Nov

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NTPC shares inflation 3% on Bernstein’s ‘outperform’ call; sees 20% rally

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...

Housing construction cost inflation 39% in 4 years: Colliers

23Nov

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Market, News

Housing construction cost inflation 39% in 4 years: Colliers

New Delhi, Nov 23 (PTI) The average cost of construction of housing projects in big cities has risen 39 per cent to Rs 2,780 per sq ft in the last four years, while construction material and labour have become costlier, according to Colliers India. Data from real estate consultant Colliers India shows that the average construction cost for premium housing projects was Rs 2,000 per sq ft in October 2020. The construction cost rose to Rs 2,200 per sq ft in October 2021, Rs 2,300 per sq ft in October 2022, Rs 2,500 per sq ft in October 2023 and Rs 2,780 per sq ft in October 2024. These are average costs for a Grade A residential building with 15 floors, Colliers India said. The data pertains to tier-I cities. Over the past one year, the consultancy said the average cost of constr...

Oil prices progress, headed for weekly gain on Russia-Ukraine tensions

22Nov

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Oil prices progress, headed for weekly gain on Russia-Ukraine tensions

Oil prices rose in Asian trade on Friday as traders placed a higher risk premium on crude oil amid growing concerns over Russia and Ukraine, capping a positive week. Supply disruptions in Norway and a brief drop in the dollar also supported oil prices early in the week, along with reports that the Organization of Petroleum Exporting Countries and allies (OPEC+) were likely to postpone planned production increases. The increased risk premium helped oil weather a bigger-than-expected rise in U.S. stockpiles. Brent oil futures for January expiration rose 0.4% to $74.54 a barrel, while West Texas Intermediate crude futures rose 0.5% to $70.10 a barrel by 20:44 ET (01:44 GMT). Both contracts were trading between 4% and 5% higher for the week. Russia-Ukraine tensions lead oil to wee...

Apple India’s net profit inflation 23 percent to Rs 2,746 crore in FY24, revenue grew to Rs 67,152 crore.

21Nov

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Apple India’s net profit inflation 23 percent to Rs 2,746 crore in FY24, revenue grew to Rs 67,152 crore.

The company's total income grew 36 percent to Rs 67,121.6 crore in FY24.iPhone maker Apple India has reported a 23 per cent rise in net profit to Rs 2,745.7 crore in FY2023-24.This information has been given in the company's regulatory filing shared by Tofler.Apple India had reported a net profit of Rs 2,229.6 crore in FY23. The company reported a 36 per cent rise in total income in FY24, rising to Rs 67,121.6 crore from Rs 49,321.8 crore in FY23.Toffler said, "Apple India Private Limited, which provides and markets Apple brand products and software, including mobile devices and laptops, reported revenue of Rs 67,122 crore for FY 2023-24, an increase of 36 per cent over the previous fiscal. The company's total expenses for the financial year (year) were reported at Rs 63,397 crore."

Gold futures inflation by Rs 335 to Rs 75,382 per 10 grams

20Nov

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Gold futures inflation by Rs 335 to Rs 75,382 per 10 grams

New Delhi, Nov 19 (PTI) Gold futures rose by Rs 335 to Rs 75,382 per 10 grams on Tuesday as speculators created deals amid strong spot demand. Gold contracts for December delivery inflation by Rs 335, or 0.45 percent, to Rs 75,382 per 10 grams on the Multi Commodity Exchange, with a turnover of 9,398 lots. Analysts said fresh deals by participants led to the rise in gold prices. Globally, gold futures rose 0.44 percent to $2,623.35 an ounce in New York.

Shilpa Medicare shares upgrade 6 per cent on CEP approval from EDQM

19Nov

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Shilpa Medicare shares upgrade 6 per cent on CEP approval from EDQM

Shilpa Medicare shares rose over 6 per cent in early trade on November 19, after it announced that its subsidiary Shilpa Pharma Lifesciences has received two Certificates of Suitability (CEPs) from the European Directorate for Medicines and Healthcare Quality (EDQM).At 1.15 pm, Shilpa Medicare shares were trading over 3 per cent higher at Rs 892. The stock has rallied a massive 180 per cent on a year-to-date basis, outperforming the Nifty 50 by a huge margin, which gained 9 per cent during the same time period.The first CEP received on November 18 was for Octreotide The second CEP approval received on November 19 was for Nifedipine, an active pharmaceutical ingredient (API) classified as a calcium-channel blocker.Nifedipine is widely used for the management of hypertension and angina by r...

Crompton Greaves shares inflation 7% on the back of a stellar second quarter performance

18Nov

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Business, News

Crompton Greaves shares inflation 7% on the back of a stellar second quarter performance

Shares of Crompton Greaves Consumer Electrical rose 7 per cent after the company reported a rise in its consolidated net profit and revenue for the quarter ended September. At 1.40 pm, Crompton Greaves shares were trading 4 per cent higher at Rs 385. The stock has gained 23 per cent on a year-to-date basis, outperforming the Nifty 50, which rose 8 per cent during the same time frame. The company reported a 27.8 per cent rise in consolidated net profit to Rs 124.9 crore, while revenue from operations rose 6.4 per cent to Rs 1,896 crore. Segment-wise, revenue from electric consumer durables (ECD) grew to Rs 1,392.7 crore from Rs 1,238 crore. Lighting products revenue also saw a marginal increase, rising to Rs 253 crore from Rs 238.7 crore. However, revenue from butterfly products d...