Booking Financial News

transformer market is on track for a significant surge, projected to reach $38.9 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.1%, driven by technological advancements and increasing electricity demand. The growth in renewable energy, particularly in solar and wind power, is significantly boosting demand for 100-500 MVA transformers. Moreover, the Indian government initiatives aimed at grid upgrades and the integration of cutting-edge technology are propelling the power transformer industry forward.

IPO activity post the general election in June, the primary market will take a breather next week with no new issues in the mainboard segment. However, there is an SME IPO of Sahaj Solar, the only one, set to open on June 11. Despite a brief pause, analysts said India's robust economic foundation and bright growth prospects made it an excellent time for the country's thriving IPO market.

Experts are optimistic about the sector’s long-term prospects, given the substantial investment and demand anticipated in the coming years. “The focus on modernising and upgrading defence systems, along with geopolitical tensions with neighbouring countries like China and Pakistan, means that the defence expenditure will continue to grow,” says Abhinav Kapadia, Research Analyst, Asit C. Mehta Investment Intermediates. “The growth is not just momentary. The sector has significant potential for future growth. The large order books of companies and the government favouring import substitution provide a strong foundation for sustained growth,” says Nirav Karkera,Head of Research, Fisdom. According to the Nomura report, the sector is expected to present an ordering opportunity worth $138 billion over the fiscal years 2024 and 2032. The report also classifies Hindustan Aeronautics Limited and Bharat Electronics as strong buys with an upside potential of 28% and 32%, respectively.

Colgate-Palmolive (India) Ltd. gained 0.26 per cent to Rs 2887.25 in Thursday's session as of 12:23PM (IST) even as the equity benchmark Sensex traded 151.47 points higher at 80138.27. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 3068.95 and a 52-week low of Rs 1675.95 on NSE. Around 4206 shares changed hands on the counter till 12:23PM (IST).

A man named Syed was flying overseas for a holiday when bought a book for ₹250 at the airport using his credit card. His credit card bill was generated while he was abroad, and soon they payment was due. But Syed couldn’t access his payment gateway while abroad and missed his payment.

online engagement and growing interest in spiritual practices have revived the fortunes of apps offering spiritual and devotional services. Apps such as Astrotalk, AppsForBharat, Vama.app, DevDham and Utsav are riding this wave, with some even providing a fillip to spiritual tourism, according to industry executives. Covid-19 has been a boon for spiritual and astrology apps, said Manu Jain, cofounder of Vama.app, a New Delhi-based startup that allows users to book virtual pujas as well as temple darshans and rituals besides offering astrology services.

In its report submitted with the Ministry of Corporate Affairs (MCA), the committee has suggested raising the turnover limit to Rs 75 crore in any of the past three years to maintain and audit cost records. Currently, these turnover limits are fixed at Rs 25 crore for companies in six regulated sectors and at Rs 35 crore for those in 33 unregulated sectors for mandatory cost audits. Moreover, all these companies with a turnover of `35 crore or more are currently required to maintain cost accounts.

Zomato Ltd. traded at Rs 208.5 on BSE at 11:57AM (IST) on Thursday, up 0.16 per cent. The stock quoted a 52-week low price of Rs 73.05 and a high of Rs 213.8. Earlier in the day, the stock saw a gap up opening.

And, by all accounts, Dalal Street sizzled in the Indian Summer in June, too. Equity mutual funds added a record ₹40,608 crore, higher than May's ₹34,697, with more than half coming through thematic funds. Investments through systematic investment plan (SIPs) continued to rise steadily and stood at ₹21,262 crore — higher than the previous month's ₹20,904 crore. Debt funds saw outflows of ₹1.07 lakh crore, largely in liquid and overnight funds, reflecting the typical end-quarter pattern.

WestJet says that despite reaching a deal with its mechanics’ union to end the strike that stranded tens of thousands of passengers over the Canada Day long weekend, flights are still likely to face disruptions this week.

Airlines are slowly mastering the art of upselling and are ready to offer that extra to passengers who are willing to pay more for better comfort or flexibility during their trip. Both IndiGo and Air India which fly 9 out of 10 domestic passengers are rolling out multiple types of fares, where they bundle tickets along with extras. While making it costlier for those booking a basic fare- ticket, to cancel or reschedule their flights, they are lowering these costs for the higher fare bracket topping it up with extras.

Mumbai police has arrested Mihir Shah, the main accused in the Worli hit-run-case. Shah (24) fled from the scene of crime and has been absconding since Sunday. Police sources told ET that Shah was arrested from Shahpur on the outskirts of Mumbai. According to the police, around 5.25 am on Sunday, near Worli, Shah rammed his speeding BMW into a scooter on which a couple was travelling. The woman, identified as Kaveri Nakhwa, was dragged for around 100 meters on the bonnet of the car, leading to her death. Her husband, Pradeep, has been injured. By the evening, the city police arrested Rajesh Shah (Shiv Sena leader of the Eknath Shinde faction) and their family friend-cum-driver, Rajrishi Bisawat in the case.

Xiaomi's interest in exploring the burgeoning Indian EV market, potentially laying the groundwork for a future launch.Although Xiaomi has not yet disclosed specific plans for the SU7's release in India, the decision to present the car at this event suggests a strategic effort to gauge consumer interest and market dynamics. Celebrating a decade of operations in India, Xiaomi's venture into the EV sector could mark a new chapter in its expansion strategy.The SU7, also known as the Speed Ultra, represents Xiaomi's inaugural foray into the automotive industry, backed by a substantial $10 billion investment.

Three Olympians stand on their stair-step pedestals, in order of victory. Who’s the most miserable? Second place. Whether an athlete eyeing the gold medalist, or an executive who narrowly lost out on a corner office job, the runner-up’s mental refrain is the same, notes executive coach Brad Stulberg: “I just almost made it." And quickly, “you start to wonder, well, am I ever going to make it?" Call it the curse of the silver medalist.

Stocks that were in focus include names like KIMS, which rose 3%, Nykaa, which gained 0.11%, and M&M, whose shares declined 6.69% on Wednesday.

Private equity firm TA Associates Thursday said it has led the acquisition of a significant minority stake in Vastu Housing Finance Corp, a pan-India diversified lending institution. TA Associates bought the stake along with existing investors, including the International Finance Corporation, according to a release. Financial details of the transaction were not disclosed. People familiar with the matter said the investors bought the stake for about ₹3,340 crore ($400 million) and it valued Vastu at ₹10,000 crore. The lender also got about $75 million in primary capital infusion. Founded in 2015 by Sandeep Menon and Sujay Patil, Vastu is backed by Multiples Alternate Asset Management since inception. Other investors include Norwest Venture Partners, Creation Investments, 360 ONE Asset Management and Faering Capital. Vastu has a loan book of about ₹10,000 crore as of FY24-end. It has more than 230 branch locations across 13 states.

The DSP TIGER Fund was a standout performer in 2007, drawing huge inflows. Infrastructure saw a massive rally from 2003 to 2007, and the DSP TIGER Fund, launched in June 2004, capitalized on this trend.

Bajaj Finance, Vedanta, L&T Finance, Hindustan Zinc, Star Health among others will be in focus due to various news developments and first quarter updates. Bajaj Finance Bajaj Finance reported a 10% year-on-year growth in new loans booked in the quarter ended June 30, 2024 at 10.97 million compared to 9.94 million in the corresponding period of the last financial year.

Online travel booking platform Ixigo, which went public last month, has reported a 20% year-on-year (YoY) increase in its operating revenue to Rs 164.8 crore for the quarter ended March 2024. Its net profit in the period jumped 55% to Rs 7.3 crore. For the fiscal year 2024, Ixigo’s net profit more than tripled to Rs 73 crore from Rs 23 crore in FY23. Revenue from operations grew by 31% on year in FY24 to Rs 655.8 crore.

equity indices Sensex and Nifty hit fresh lifetime highs before closing flat, as profit-taking in select banking and telecom shares occurred amid mixed global cues on Tuesday. Stocks in focus included Solar Industries, which rose 8.23%; Kotak Bank, which fell 2.49%; and Max Health, whose shares declined 4.46% on Wednesday.

Indian Oil Corporation Ltd. gained 0.29 per cent to Rs 168.0 in Friday's session as of 11:06AM (IST) even as the equity benchmark Sensex traded 837.05 points higher at 80734.39. Earlier in the day, the stock witnessed a gap down start to the session. The stock quoted a 52-week high price of Rs 196.8 and a 52-week low of Rs 85.51 on NSE. Around 1559951 shares changed hands on the counter till 11:06AM (IST).