Business

09 Sep

Air India’s loss to reduction by 60% to Rs 4,444 crore in FY 2024: Tata Group

Priyanka RoyBusiness, News

It said that during the year under review, 800 daily flights were operated, including to 55 domestic and 44 international destinations, carrying 40.45 million passengers.Tata Group-owned Air India's loss narrowed by 60 per cent to Rs 4,444.10 crore in FY2024 compared to the previous year, according to Tata Sons' annual report for 2023-24.The airline had reported a loss of Rs 11,387.96 crore in FY2013, the annual report said.The report said that the turnover during the year under review increased by 23.69 percent to Rs 38,812 crore as against Rs 31,377 crore.The group is strengthening its aviation presence with the merger…

09 Sep

Samsung ‘Solve for Tomorrow’ 2024 finalists announce for Grand Finale

Business BureauBusiness

Samsung India has announced the top 10 finalists for its prestigious Solve for Tomorrow 2024 programme, showcasing young talent from some of India’s remotest regions. These 22 students, hailing from areas such as Golaghat in Assam, Udupi in Karnataka, and Bilaspur in Chhattisgarh, are set to present their innovations to a distinguished jury of Samsung and industry leaders in the upcoming grand finale. The third edition of the programme focuses on key themes like Community and Inclusion and Environment and Sustainability, with solutions targeting issues such as arsenic pollution, digital literacy, and water conservation. Each team received mentorship from Samsung…

07 Sep

UBL announces a price reduction of its flagship Kingfisher Strong Beer

Business BureauBusiness

United Breweries Limited (UBL), the country’s largest beer manufacturer and a part of the HEINEKEN Company, has pleased to announce a price reduction of its flagship Kingfisher Strong Beer in Assam by Rs 40. Vivek Gupta, Managing Director & Chief Executive Officer of United Breweries Limited, said, “Assam is an important market for us, and the recent positive measures by the state government to reduce alcohol prices will benefit the consumers.” Kingfisher Strong is celebrated for its balanced taste and moderate alcohol content. Consistent with quality and with reduced pricing, consumers in Assam can now savor their favorite beer at…

07 Sep

ICICI Lombard General Insurance Extends Support to Tripura Amidst Devastating Floods and Landslides

Business BureauBusiness

ICICI Lombard, one of India's leading general insurance companies and the lead insurer for Tripura as appointed by IRDAI, stands with the people of the state as they face the devastating impacts of recent floods and landslides triggered by heavy rains since August 19.The Tripura government has declared the entire state a natural calamity-affected area due to severe floods that have caused significant loss of life and extensive damage to property, displacing over 53,000 people, with initial estimated damages reaching ₹15,000 crore.Understanding the significant challenges posed by such natural disasters, ICICI Lombard has established a dedicated help desk to provide…

07 Sep

Toyota Kirloskar Motor’s T CARE: A comprehensive service revolution

Business BureauBusiness

In its constant endeavour to exceed customer expectations by delivering exceptional experiences, Toyota Kirloskar Motor (TKM) has announced the introduction of “T CARE”, an innovative initiative aimed at delivering a holistic ownership experience to their esteemed customers. T CARE integrates a range of supports with value-added proposition under a single brand, ensuring that every engagement with the customer reflects Toyota’s core values of reliability, quality, and exceptional care. Driven by a customer-centric approach, “T CARE” provides a comprehensive range of services that demonstrates the company’s dedication to enriching customer delight and fostering long-term relationships. Commenting on this new initiative, Mr.…

07 Sep

Wockhardt shares downturn 5% amid conflict of interest allegations

Priyanka RoyBusiness, News

New Delhi, Sep 6 (Language) Shares of Wockhardt Ltd fell 5 per cent on Friday and reached the lower circuit limit after Congress leveled fresh allegations of conflict of interest against the SEBI chief linked to the pharmaceutical company.Making further allegations of conflict of interest against Sebi Chairperson Madhabi Buch, Congress on Friday claimed that she received rental income from an entity affiliated with a company which the capital markets regulator is probing for various matters including insider trading.Congress media and publicity department head Pawan Khera said that between 2018 and 2024, Butch – as a full-time member and later…

06 Sep

Crisil says food costs drop in August due to tomato, broiler chicken prices

Priyanka RoyBusiness, News

New Delhi: Rating agency CRISIL said in a report released on Friday that the price of home-cooked food or thali declined in August due to low prices of tomatoes and broiler chicken.Vegetarian food prices fell 8% year-on-year (YoY) and 4% month-on-month (MoM) to ₹31.20 in August, while non-vegetarian food prices fell 12% year-on-year and 3% YoY. A sharp decline was observed. , As per the report, MoM has reduced the cost to ₹59.30.In comparison, in August last year, the price of a vegetarian thali was ₹34 and that of a non-vegetarian thali was ₹67.50. By July 2024, the prices had…

06 Sep

For Vehicle Finance facilities Bandhan Bank partners with Ashok Leyland

Business BureauBusiness

Bandhan Bank has announced a strategic partnership with Ashok Leyland, a leading commercial vehicle manufacturer, to provide customized vehicle financing solutions for customers. The Memorandum of Understanding (MoU) was signed by Rajinder Babbar, Executive Director & Chief Business Officer of Bandhan Bank, and K.M. Balaji, CFO of Ashok Leyland, in the presence of Sanjeev Kumar, President of M&HCV, Ashok Leyland. This collaboration will enable Bandhan Bank to offer end-to-end financial solutions, including tailored vehicle loans with flexible repayment options, aimed at supporting Ashok Leyland customers. Both organizations aim to expand their market reach through this initiative. "This partnership reflects our…

05 Sep

SMFG India Credit celebrates 1000th branch milestone with special cover & my stamp launch

Business BureauBusiness

SMFG India Credit Co. Ltd. proudly opened its 1000th branch in Vashi, Navi Mumbai. This milestone, marking the company’s relentless growth, was celebrated with the launch of a Special Cover & My Stamp in collaboration with India Post. The event saw the presence of key dignitaries including Mr. YAGI Koji, Consul-General of Japan in Mumbai, and Mr. Abhijeet Bansode, Director - Postal Services (HQ) Maharashtra Circle, alongside SMFG India Credit’s CEO & MD, Mr. Shantanu Mitra. The company’s journey from its inception in 2007 to this landmark moment reflects its deep commitment to serving underpenetrated markets. With nearly 300 branches…

05 Sep

World Bank upgrade India’s FY25 GDP forecast to 7% from 6.6%

Priyanka RoyBusiness, News

The World Bank has revised its growth forecast for India, raising it to 7% for fiscal year 2024-25, up from its earlier estimate of 6.6%. The adjustment reflects the strong performance of the Indian economy, which was the fastest growing major economy with a growth rate of 8.2% in FY24.Looking ahead, the World Bank apprehend India's medium-term outlook to remain positive, with strong inflation projected for FY26 and FY27. Koume highlighted the importance of diversifying India's export basket and leveraging global value chains to achieve $1 trillion merchandise exports by 2030."India needs to diversify its export basket and leverage global…