SUNAINA

On Tuesday, SEBI updated rules regarding unitholder nomination rights for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InVITs). Previously, unitholders with significant ownership could nominate a director to the board but were restricted if they had nomination rights as shareholders or lenders. The new rule, effective immediately, adds an exception for unitholders with … Read more

Raymond Ltd reported a 26.7% rise in consolidated net profit from continuing operations, reaching Rs 57.04 crore for Q1 FY24, up from Rs 45.02 crore a year ago. Revenue from continuing operations surged to Rs 937.65 crore, compared to Rs 473.37 crore last year. The company completed its lifestyle business demerger into Raymond Lifestyle Ltd … Read more

Electric vehicle sales soared 55.2% year-on-year to 1,79,038 units in July 2024, driven by a 96% increase in e-two-wheelers, according to FADA. Sales of electric two-wheelers rose to 1,07,016 units, a 95.94% increase, while electric three-wheelers grew 18.18% to 63,667 units. Commercial vehicle sales also doubled to 816 units. Passenger vehicles fell 2.92% to 7,541 … Read more

Tata Power reported a 31% year-on-year increase in consolidated net profit to Rs 1,189 crore for Q1FY25, driven by operational efficiency. Revenue surged 12% to a record Rs 16,810 crore, and EBITDA rose 11% to Rs 3,350 crore. The company’s net profit before exceptional items was Rs 906 crore. Tata Power is investing Rs 20,000 … Read more

Indian banks have written off Rs 9.90 lakh crore in loans over the past five years, including Rs 1.70 lakh crore in 2023-24. The highest write-off was Rs 2.34 lakh crore in 2019-20. Despite these write-offs, borrowers remain liable for repayment, and recovery efforts continue. Gross NPAs of scheduled commercial banks (SCBs) have decreased from … Read more

Xiaomi led the Indian smartphone market with a 19.3% share in Q2 2024, surpassing Samsung at 18.5% and Vivo at 17%. The overall smartphone market declined by 4%, while mobile phone shipments dropped by 3% YoY. 5G smartphones surged to 79% of shipments, with Vivo and Samsung leading at 21% and 20% market share, respectively. … Read more

TVS Motor Chairman Ralf Speth expects domestic two-wheeler growth in FY25, driven by normal rainfall and increased rural demand. At the AGM, he highlighted TVS’s collaboration with BMW Motorrad to develop new vehicles for global markets. The company aims to enhance its electric vehicle (EV) lineup in line with its 2030 vision, emphasizing sustainable innovation. … Read more

Minister of State for Finance Pankaj Chaudhary reported that the government and RBI are working to expand UPI’s global presence. UPI is now available in seven countries: Bhutan, Singapore, UAE, France, Mauritius, Sri Lanka, and Nepal. The RBI’s Payments Vision Document 2025 aims to enhance UPI and RuPay card internationalization. RuPay credit cards are also … Read more

Vedanta Ltd has submitted its demerger scheme to the National Company Law Tribunal (NCLT) after obtaining approvals from lenders, BSE, NSE, and SEBI. The demerger will split the company into six independent entities: Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals, and Vedanta Ltd. The aim is … Read more

The BSE Sensex fell 3.99% over three days, erasing Rs 22 lakh crore in market value. The index, which hit a record high of 82,129.49 on August 1, dropped 3,274.48 points to 78,759.40. On Monday, the Sensex fell 2,222.55 points or 2.74%, and on Tuesday, it ended 0.21% lower at 78,593.07. Global market declines and … Read more