Wed, Jan 8, 2025 3:10 PM
India's 2024 power output growth is slowest since pandemic, data shows
A Flip by Shubhangi Gupta
On the back of softening corporate profits and elevated valuations, global brokerage firm HSBC has downgraded its rating on India to ‘Neutral’ from an ‘overweight’ earlier, setting a Sensex target of Rs 85,990 for 2025. While India has experienced annualized growth of 25% in recent years, HSBC notes that this pace is unsustainable.
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Shares of Indian Renewable Energy Development Agency Ltd. (IREDA) are trading with gains of over 1% on Thursday, January 9, ahead of the state-run financier announcing its results for the October-December period. IREDA had already disclosed its business momentum for the quarter gone by last week, on January 1. The company had sanctioned loans worth ₹31,087 crore during the quarter.
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Davin Sons Retail shares listed on the BSE SME platform at a discount of 20 percent on January 9, following nearly 115 times subscription to its Rs 9-crore issues. The shares of Davin Sons Retail were listed at Rs 44 per share on the BSE SME platform, a discount of 20 percent to its IPO price. The company's market market valuation post listing of shares stood at Rs 24.31 crore.
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