Business

27 Sep

Tata Motors shares jump 2% on JLR’s £500 million electric SUV investment plan

Priyanka RoyBusiness, News

Shares of Tata Motors Ltd rose more than 2 per cent to Rs 986.4 in the afternoon on September 26 after its British arm, Jaguar Land Rover, announced plans to spend 500 million pounds ($669 million) on rebuilding one of its factories in England, which is set to start building electric SUVs.Jaguar Land Rover (JLR), maker of Range Rover and Land Rover vehicles, has announced plans to double its investment at its Halewood plant near Liverpool, taking total spending to £500 million over the coming years. The company has invested £250 million in the facility over the past 12 months,…

26 Sep

Bandhan Bank shares lapse after chief audit executive resigns

Priyanka RoyBusiness, News

Shares of private lender Bandhan Bank Ltd fell on September 25 after its chief audit executive resigned to "explore alternative opportunities".In a stock exchange filing on September 24, Bandhan Bank said chief audit executive Ravi Lahoti has resigned and his last working day at the bank will be December 21, 2024."Ravi Lahoti, Chief Audit Executive of the Bank, has decided to explore alternative opportunities and has accordingly tendered his resignation from the services of the Bank vide a letter dated September 23, 2024," Bandhan Bank said in a stock exchange filing.At 10:55 am on September 25, Bandhan Bank shares were…

25 Sep

Slowdown in Indian economy will impact Asia-Pacific region’s growth in 2025: Moody’s Analytics

Priyanka RoyBusiness, News

Moody's Analytics on Tuesday said that normalising growth in India will impact the performance of the Asia Pacific (APAC) region in 2025, as the Indian economy is projected to grow at 6.5 per cent in 2025 from an estimated 7.1 percent in 2024."Inflation in developing Asia will slow to 5.1 percent in 2024 and 4.9 percent in 2025, with sluggish economic inflation in China a key factor. Weak domestic demand will push Chinese domestic growth to 4.7 percent in 2024, well behind the official 5 percent target. Growth will slow to 4.6 percent in 2025," Moody's Ratings subsidiary said."Normalising growth…

25 Sep

E-Waste Management Summit 2024 in Guwahati, Assam

Business BureauBusiness

Hulladek Recycling Pvt Ltd, India’s leading waste management company, in collaboration with the Pollution Control Board, Assam (PCBA), successfully hosted the E- waste Management Summit 2024, Assam Chapter. The summit, held in Guwahati, Assam, brought together key stakeholders to discuss crucial issues and strategies related to e-waste management and recycling in North Eastern India. The summit was graced by distinguished guests including Shri. Arup Kumar Misra, Chairman of Pollution Control Board, Assam; Shri. Shantanu Kumar Dutta, Member Secretary of Pollution Control Board, Assam; Mr. Nandan Mall, Founder and Managing Director of Hulladek Recycling and Mr. Saurabh Agarwala, Partner at TrustMat…

24 Sep

Shares grow after NBCC bags order worth Rs 1,260 crore

Priyanka RoyBusiness, News

Public sector National Buildings Construction Company (NBCC) Ltd said its wholly-owned subsidiary HSCC (India) Ltd has received an order.HSCC India has received an order worth Rs 1,260 crore from the Ministry of Health and Family Welfare, Government of India for setting up All India Institute of Medical Sciences (AIIMS) at Darbhanga, Bihar.The further scope of the order and execution timeline have not been specified by the company.Earlier this month, NBCC had signed a Memorandum of Understanding with cash-strapped MTNL Ltd to develop MTNL’s positive land block of around 13.88 acres in New Delhi. The project is said to be worth…

23 Sep

Hulladek and Mizoram Pollution Control Board launch e-waste management initiative in Aizawl

Business BureauBusiness

Hulladek Recycling Pvt Ltd, a leader in waste management, partnered with the Mizoram Pollution Control Board (MPCB) to host the E-Waste Management Summit 2024 in Aizawl. The event brought together key stakeholders to discuss the pressing challenges and strategies for e-waste management in North Eastern India. Distinguished guests included Pu Joseph H. Lalramsanga, Commissioner of AMC, and Pu Liankima Lailung, Chairman of MPCB. Lailung emphasized the Board's commitment to sustainable waste management practices, stating, “This summit marks a significant step toward effective e-waste management in the region.” Nandan Mall, Founder and Managing Director of Hulladek, announced the installation of an…

23 Sep

Honda India Foundation launches “Project Buniyaad” in Mizoram to boost youth employment

Business BureauBusiness

Honda India Foundation (HIF) has officially launched “Project Buniyaad - Aathmanirbharta Ka Aadhar” in Aizawl, Mizoram, a strategic initiative aimed at enhancing skill development and job placement for marginalized youth. The program, in partnership with Mizoram Youth Commission (MYC) and Visan Foundation, seeks to provide 100% job placement in the hospitality sector for youth from North-Eastern states and Jammu and Kashmir. Inaugurated by Mizoram Chief Minister Shri Pu Lalduhoma, the project leverages HIF’s funding, state government’s infrastructure support, Visan Foundation’s training expertise, and local hotels and hospitals for placements. Since its February 2024 launch, the project has successfully trained and…

23 Sep

Signify illuminates lives of 33,000+ flood-affected families in West Tripura with LED solutions

Business BureauBusiness

Global lighting giant Signify has launched a major initiative to support over 33,000 flood-affected families in West Tripura district by providing emergency LED lights. The initiative, part of Signify’s ‘Har Gaon Roshan’ CSR program, is in partnership with the District Administration of West Tripura and the Agartala Municipal Corporation, under the leadership of Mayor Sri Dipak Majumder and District Magistrate Dr. Vishal Kumar. Collaborating with the Foundation for Integrated Support and Solution (FISS), the project aims to enhance safety and restore normalcy in flood-hit households. Nikhil Gupta, Head of Marketing, Strategy, Government Affairs & CSR at Signify, stated, “Through this…

23 Sep

Coal imports jump 41% to 25.23 MT in July, demand expected to pick up: mjunction

Priyanka RoyBusiness, News

India's coal imports rose 40.56 percent to 25.23 million tonnes (MT) in July, according to data compiled by B2B e-commerce platform mjunction Services.The country's coal imports stood at 17.95 MT in the same month last fiscal.Coal imports also increased to 100.48 MT in the April-July period of the current fiscal year from 89.11 MT a year ago.Mjunction Managing Director and CEO Vinay Verma said that import demand is expected to pick up in the coming weeks ahead of the festive season next month."Non-coking coal imports witnessed a increase due to softening of prices in the seaborne market. However, coking coal…

21 Sep

Decrease in employee strength of top PSUs in FY24, biggest drop in Coal India

Priyanka RoyBusiness, News

The decline in employee headcount is not just limited to the IT sector. Public sector undertakings (PSUs) have also seen a decline in headcount in the last few years. All but four of the top 16 government-owned companies by market capitalisation have seen a decline in their headcount during FY24.A CNBC-TV18 analysis shows that 12 PSUs, including Coal India, State Bank of India (SBI) and Hindustan Aeronautics Limited (HAL), have cut their workforce by 23,306 in FY24 after cutting at the same level in FY23.The biggest decline in the number of employees was seen in Coal India, where 4% to…