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”
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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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