Today's Business Blitz- "HDFC Bank's FII Drop, Coal Production Surge, Puravankara's Rs 900 Crore Bengaluru Deal, NTPC's Q1 Growth, and FPIs' Selling Streak"
2nd July, 2024
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1. “ HDFC Bank's Q1 FII Shareholding Drops Ahead Of MSCI Index Rebalancing”
HDFC Bank's FII shareholding dropped to 54.83% in Q1 ahead of MSCI Index rebalancing.
The decrease will increase HDFC Bank's weight in the MSCI Index from 3.95% to 7.2-7.5%.
This is expected to attract inflows of $3.2-4 billion during the rebalancing in August.
HDFC Bank shares closed 1.3% higher, defying the broader market trend.
#MSCI Index#Business#bqmetered#SC#Markets#billion
2. “Coal Production Up 14.5% Over A Year Ago, Says Government”
Coal Production Surge: India's coal production increased by 14.5% to 84.63 MT in June.
Company Performance: Coal India Ltd., the largest coal miner, produced 63.10 MT, an 8.9% annual increase.
Despatch Growth: Despatches rose 10.2% to 85.76 MT.
Company Satisfaction: CIL achieved 100% satisfaction in Q1 of FY24, exceeding its production target.
Inventory Increase: Coal companies' inventory surged to 95.02 MT, an annual growth of 41.68%.
Power Plant Coal Stocks: Thermal power plant coal stocks increased to 46.70 MT, a 30.15% annual rise.
#Coal#Business#bqmetered#Markets#stock#Nation
3. “Puravankara Buys Land In Bengaluru With Development Value Of Rs 900 Crore”
Puravankara acquired a 7.26-acre land in Bengaluru for a development value of Rs 900 crore.
The land, located in Hebbagodi, will be used to develop a luxury residential project.
The company also purchased land in Thane and Mumbai with a potential GDV of Rs 5,500 crore.
Managing Director Ashish Puravankara said these acquisitions add a potential GDV of Rs 1,550 crore.
In the last financial year, Puravankara sold 7.35 million sq ft and plans to launch 14 million sq ft in FY25.
#Business#Real Estate#bqmetered#company#Markets#luxury#crore#Bangalore
4. “NTPC Q1 Coal Production Jumps 15%”
NTPC's coal production increased by 15% to 9.862 MMT in Q1.
Coal dispatch also rose 17.15% to 10.194 MMT.
NTPC generated 113.87 billion units, a 9.5% increase.
Plant load factor at NTPC coal stations reached 79.5%.
NTPC's stocks closed 0.11% higher at Rs 370.30 per share.
#Business#bqmetered#Quarterly Earnings#stock#billion
5. “FPIs Stay Net Sellers For The Third Straight Day”
FPIs sold Rs 2,000.1 crore of Indian equities on Tuesday.
FPIs have been net sellers for three consecutive days, offloading over Rs 4,426 crore equities this month.
DIIs have been net buyers for the past three days.
FPIs have been net buyers of Rs 4,260 crore of Indian equities in 2024 (YTD).
#Business#Markets#crore#FPI#bqfree
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