COST Financial News

Narendra Modi on Tuesday said the PM Surya Ghar Muft Bijli Yojana will see an investment of over Rs 75,000 crore. The scheme, first announced on January 22, aims to light up 1 crore households by enabling them for free electricity of up to 300 units every month. It envisages substantive subsidies directly in the bank accounts of the consumers and heavily concessional bank loans, PM Modi said on microblogging platform X. “The central government will ensure that there is no cost burden on the people. All stakeholders will be integrated to a National Online Portal which will further convenience [it],” he said.

The power equipment manufacturer reported a net loss of 1.63 billion rupees (nearly $20 million) for the quarter ended Dec. 31, against a profit of 310 million rupees a year earlier.

CRISIL Ratings. This comes after a notable increase this fiscal year, fuelled by a robust recovery in passenger traffic, the ability to adjust volatile fuel prices, and stability in foreign exchange rates. This will support their credit metrics despite a significant increase in debt (including lease liabilities) expected through this and the next fiscal years to fund fleet additions. An analysis of three airlines, which account for two-thirds of India’s air traffic, indicates as much.

Eicher Motors on Tuesday reported a strong 34.4% year-on-year (YoY) growth in consolidated net profit for the quarter ended December to Rs 996 crore, and this was tad higher than an ETNow poll of Rs 969 crore. Consolidated revenue from operations rose 12.3% YoY to Rs 4,179 crore, which too, was above the estimated Rs 4,048 crore.

The total cost of borrowing is substantially influenced by the interest rate on a personal loan. It is essential to have a thorough understanding of this rate before seeking a loan. The overall cost of borrowing is heavily influenced by the interest rate, as it dictates the additional amount paid in interest on the borrowed sum. A higher interest rate prolongs the loan repayment duration, and conversely, a lower interest rate shortens it. This is due to a higher interest rate leading to a larger share of the monthly payment being allocated to interest rather than reducing the principal amount. As a result, it takes an extended period to reach the point where both the principal and accumulated interest are fully paid off.

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solar power and sustainable progress, Prime Minister Narendra Modi on Tuesday announced that his government is launching the 'PM Surya Ghar: Muft Bijli Yojana' which aims to light up one crore households by providing up to 300 units of free electricity every month. Modi said the project would entail an investment of over Rs 75,000 crore. «In order to further sustainable development and people's wellbeing, we are launching the PM Surya Ghar: Muft Bijli Yojana. This project, with an investment of over Rs 75,000 crore, aims to light up 1 crore households by providing up to 300 units of free electricity every month,» the prime minister said on X. From substantive subsidies, which will be given directly to people's bank accounts, to heavily concessional bank loans, the central government will ensure that there is no cost burden on the people, he said.

Aditya Welekar, AVP, Axis Securities, says the “Hindalco project will earn a higher EBITDA per tonne as compared to the existing $525 per tonne. This project will earn $700 plus per tonne EBITDA per tonne. So, as and when it comes online, that will be value accretive, but that is far away from now because the project will take 15 to 18 months to ramp up from the date of commissioning in the second half of CY2026.” How are two factors – cost overrun and also delay in commissioning of project — are going to change your view on Hindalco and secondly, don’t you think that because of the delay in commissioning of this project, the aluminium cycle which has been on an uptrend so far could reverse by the time the plant actually starts? Aditya Welekar: The support of aluminium prices will be there. Indian operations will be doing better. The only overhang will be because of that capex intensity at the project, but at the same time they have also indicated levers at EBITDA per tonne reaching to $600 per tonne at Novelis and that looks kind of achievable because as they move forward, prices will reset at a higher level for Novelis and their recycling percentage and automotive share in the total product mix will also increase in future.

NEW DELHI : Pune-based Serum Institute of India (SII) plans to expand the annual production capacity of the quadrivalent human papillomavirus (HPV) vaccines to around 70 million doses, starting this year, according to a company spokesperson. The company’s plan to expand the vaccine production capacity from 2-3 million doses currently aligns with the government’s efforts to introduce the HPV vaccine against cervical cancer for girls aged 9-14 years, as announced in the interim budget by finance minister Nirmala Sitharaman. “Currently, SII has a production capacity of around 2-3 million doses for the Cervavac vaccine.

Hindustan Times (HT), people in Gurugram will be able to watch the event live. Notably, the Gurugram Metro project has been a long-pending demand of the city. It will connect the old part of the city to metro.

Coal India, the world's largest coal miner, saw its shares jump 5.80% to ₹457.85 apiece in today's trade after the company posted a robust set of numbers for the December-ending quarter, beating analysts' estimates. The strong earnings were led by higher other income, lower raw material and overburden removal costs. The company released its Q3 numbers post market hours on Monday, reporting a net profit of ₹9,094 crore, a robust 18% YoY growth.

Hindalco Industries saw their sharpest fall in nearly four years as a significantly higher spend on capex and with lower expected returns for a facility to be set up in the US is seen hurting the company’s earnings over the long-term. Down more than 13% on the NSE, shares of Hindalco slipped to their lowest level in three months.

Black smoke rose over Sweden’s second-largest city on Monday after a fire broke out at a water park under construction at one of the country’s biggest amusement centers

Inflation may have fallen below a 3% annual rate last month, which would be the lowest level in nearly three years and a potentially significant milestone as the Biden administration seeks to bolster Americans’ views of the economy before the November ...

Indian authorities have deployed heavy security and barricaded borders points leading to New Delhi to stop thousands of protesting farmers from entering the capital

Just a quarter of business economists and analysts expect the United States to fall into recession this year

Businesses in New York will now be required to clearly post how much extra their products will cost if customers pay with a credit card

Tata Motors has announced that it is reducing the price of its Nexon and Tiago EV by up to ₹1,20,000. The price reduction is largely due to a slight fall in the prices of battery cells used in the manufacturing of these cars. Moreover, while Tata has announced a price cut for Nexon and Tiago EV, the prices of the recently launched Punch EV have remained unchanged.

SpaceX rocket on Wednesday, following recent completed touchdowns by China, India and Japan. So why entrust such tasks to the commercial sector, especially after an attempt by another company with similar goals, Astrobotic, failed just last month? The answer lies in the way NASA has fundamentally reorganized itself for Artemis, the agency's flagship Moon-to-Mars program.

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₹1,063.40 apiece on the BSE. On Monday, Bharat Forge stock price plunged over 14% after the forging company reported its December quarter results. In two days, the stock has fallen over 19%.