BUSINESS

30 Apr

UltraTech Cement Q4 net profit jump 35% to Rs 2,260 Crore

Priyanka RoyBUSINESS, Economy

UltraTech Cement Ltd on Monday reported 35.24% rise in consolidated net profit at Rs 2,258.58 Crore for the fourth quarter (Q 4) ended March 31, 2024. The foremost cement maker had posted a consolidated net profit of Rs 1,670.10 Crore in the January to March quarter. In the last financial year, according to a regulatory filing by UltraTech. Its revenue from operations increased by 9.41% to Rs 20,418.94 Crore during the period under review. It was Rs 18,662.38 Crore in the same period a year back. UltraTech's total expenses in the March quarter increased by 6.67% to Rs 17,381.09 Crore. The…

28 Apr

‘Baseless, untrue’, MDH rejects claims of cancer-causing pesticide in its spices

Anshu RayBUSINESS

In a response to the allegations made against the spices of MDH, it said its products doesn't contain ethylene oxide or any other harmful products as well as the company has not got any communication from regulators and authorities in Hong Kong or Singapore about alleged contamination in its products. Hong Kong earlier this month banned the selling of 3 MDH spice blends and an Everest spice mix for fish curries. Singapore ordered a recall of the Everest spice mix as well, saying the spices contains high levels of ethylene oxide, which is harmful for human consumption and a cancer…

17 Apr

Legal Complaint Targets Flipkart, BigBasket for Election Day Employee Work

Anshu RayBUSINESS

A complaint has been filed against e-commerce company Flipkart and Tata Group firm BigBasket for purportedly asking delivery boys to work on the day of voting on April 19 in the state. In the complaint registered before Tamil Nadu state election commissioner B Kothi Nirmalasamy on April 17, Chennai High Court lawyer K Narasimhan said that despite the state government declaring leave of April 19 for the election day, Flipkart and BigBasket are providing 100% delivery service of orders even on the day of voting. Narasimhan said that as per government order April 19 has been officially declared a public…

16 Apr

Zomato launches ‘large order fleet’ to deliver food for groups of up to 50 people

Anshu RayBUSINESS

The food delivery company Zomato is increasing the capability of delivering large orders, which could be for a group of up to 50 people, for events and parties, the company's CEO said on X on April 16. "Such large orders were earlier served by multiple regular fleet delivery partners, and the customer experience wasn’t what we really aspired for. These new vehicles should solve most of the problems our customers face while placing large orders on Zomato," Zomato founder and CEO Deepinder Goyal posted on X. "Having said that, these vehicles are still “work in progress”, and we are in…

15 Apr

Tesla lays off more than 10% of its workforce

Anshu RayBUSINESS

Elon Musk-led automotive and clean energy company Tesla has send resignation letter to thousands of its employees globally. As per the media reports, the company is letting go off around 14,000 employees or about 10 % of its global workforce. According to tech publication Electrek, the company is planning to lessen Cybertruck production shift. In a report, published earlier, citing Bloomberg, said the company had asked all managers to provide a list of the "critical" employees in their teams. Tesla reportedly had a poor quarter with a reduction in deliveries year-over-year(yoy) even as it had added 46,000 vehicles to its…

14 Apr

Iran Attack On Israel: Air India Suspends Flight To Tel Aviv

Anshu RayBUSINESS

Air India flights have been suspended from Delhi to Tel Aviv amid the increasing tensions between Israel and Iran following Tehran's missile attack on the April 13, 2024 (Saturday) night. The Tata Group-owned carrier operates four weekly flights between Delhi and the Israeli city. Meanwhile, Israeli airlines said the operations were getting back to normal on Sunday a day after the country's airspace was closed following the overnight attack by Iranian drones and missiles. Flag carrier El Al has cancelled 15 flights to Europe, Dubai and Moscow which were scheduled for Sunday, said they have resumed operations. As per the…

13 Apr

Remove Bournvita, other beverages from health drinks category: Govt tells ecommerce sites

Anshu RayBUSINESS

The Ministry of Commerce and Industry has issued advisory for all e-commerce companies to exclude all drinks and beverages, including Bournvita, from the category of 'health drinks' from their sites and platforms. "National Commission for Protection of Child Rights, a statutory body constituted under section (3) of the commission for Protection of Child Rights (CPCR) Act, 2005 after its inquiry under Section 14 of CPCR Act, 2005, concluded that there is no "Health Drink defined under FSS Act 2006, Rules and regulations as submitted by FSSAI and Mondelez India Food Pvt Ltd," the ministry said a notification. This comes after…

13 Apr

Young Artists Spread Bihu Cheer with Sunrise Spices at Guwahati City Center

Business CorrespondentBUSINESS

A mesmerising display of culture was seen today at the Guwahati City Center through a captivating performance by 100 young artists animating the vibrant spirit of Bihu dance. The perfectly synchronised performance was on the melodic rhythm of the Bihu special song 'Sunrise Xoite Bihu Adorugoi Bola', by ITC Sunrise Spices. Composed by renowned Assamese musician Bijay Shankar Das, the music video was created exclusively to celebrate the spirit of Bihu. Sung by Ritisha Sharma, Nitul Dadhora it also features famous Assamese actor Madhusmita Dhihingya and the talented Neel Tamuly.

12 Apr

Citroen becomes first multinational car manufacturer to export Made-in-India EVs to international markets, begins E-C3 export to Indonesia

Anshu RayBUSINESS

The automobile manufacturing French company Citroen, announced on April 11, that it has started exporting its locally manufactured e-C3 electric vehicles (EVs) from India to international markets. According to the company, this move, a first for a multinational car manufacturer in India, aligns with the country's vision of manufacturing sustainable EVs domestically for the global market and Citroen's global ambitions of democratising electric mobility. Aditya Jairaj, CEO & MD of Stellantis India, in a company statement, said, "India is not only a strategic market but also a major sourcing hub for vehicles, components, and mobility technologies within the Stellantis group.…

12 Apr

Bajaj Auto Ltd Raises the Bar with the Unveiling of the All-New Pulsar N250

Business CorrespondentBUSINESS

Bajaj Auto, the world’s most valuable two-wheeler and three-wheeler company, launched the all-new flagship of the N Series – the Pulsar N250. Along with sporting the biggest engine in the Pulsar lineup, the naked streetfighter is packed with advanced features to provide an elevated and precision riding experience for customers. The Pulsar N series boasts a strong line up from Bajaj, with the N160 launched in July 2022 and the N150 in September 2023, both of which hold an enviable position in the 150-160 cc category. New ABS Ride Modes The Pulsar N250 comes equipped with three ABS ride modes:…