Business

23 Dec

1% expansion in market capitalisation leads to 0.6% increase in gross domestic product (GDP) growth rate: SBI Eco Research

Priyanka RoyBusiness, latest

A report by the SBI Economic Research Department said that an increase in market capitalisation strengthens the economy and boosts investor confidence, thereby boosting overall economic growth. Also, the report claimed that a one per cent increase in market capitalisation leads to a 0.6 per cent increase in gross domestic product (GDP) growth rate. "Impulse response suggests that a 1 standard deviation shock in market capitalisation has a positive impact on the real economy, with the effect dissipating after three time periods," the report said. It also mentioned that Granger causality analysis suggests that an increase in market capitalisation Granger-causes…

21 Dec

Gold price in Chennai downgrade by Rs 240 per sovereign on December 20, taking the price of one gram to Rs 7,040

Priyanka RoyBusiness, latest

Thus, the price of gold has come down by Rs 30 per gram, now the price of one gram has become Rs 7,040. Chennai: Gold price in Chennai fell by Rs 240 per sovereign on Friday (December 20), and the yellow metal is selling at Rs 56,320 per sovereign. Thus, the price of gold has come down by Rs 30 per gram, now the price of one gram has become Rs 7,040. Gold price has seen slight fluctuations in the last one week. On December 19, the price of gold was Rs 56,560, which was Rs 57,200 on December 18.…

20 Dec

SpiceJet shares expansion 9%

Priyanka RoyBusiness, latest

The budget airline, which recently raised Rs 3,000 crore amid financial challenges, is settling various disputes with lessors and other entities.SpiceJet shares jumped 9 percent on Thursday after the company said aircraft lessor Genesis will buy a stake in the airline worth USD 4 million as part of settling a dispute worth over USD 16 million.The stock closed 8.97 percent higher at Rs 61.33 on the BSE. During the day, it rose 10.14 percent to Rs 61.99.For the settlement, the airline will also pay USD 6 million to Genesis.The budget airline, which recently raised Rs 3,000 crore amid financial challenges,…

19 Dec

Direct tax collection in 2024-25 inflation 20.3% to Rs 19.2 lakh crore

Priyanka RoyBusiness, latest

New Delhi [India], Dec 18 (ANI): Gross direct tax collection by the government so far in 2024-25 rose 20.32 percent year-on-year to Rs 19.21 lakh crore, according to data released by the Central Board of Direct Taxes (CBDT) on Wednesday. The gross tax collection during the same period last year was Rs 15.96 lakh crore. Talking about net direct tax collection, it rose 16.45 percent to Rs 15.82 lakh crore from Rs 13.59 lakh crore in the same period a year ago. Refunds for this period rose 42.49 per cent to Rs 3.38 lakh crore from Rs 2.37 lakh crore…

19 Dec

Durex’s ‘The Birds and Bees Talk’ makes waves at Hornbill Festival with Asia’s first Consent Café

Business BureauBusiness

The 25th edition of the iconic Hornbill Festival, famously known as the Festival of Festivals, has concluded with unprecedented enthusiasm, drawing a record-breaking footfall of 2.5 lakh visitors to the Kisama Heritage Village, Nagaland. Durex The Birds and Bees Talk (TBBT), a transformative life skills program by Reckitt, a global leader in health and hygiene, made its mark as the festival’s official Health Partner, driving impactful conversations around consent through groundbreaking initiatives. This year, Durex TBBT made history by launching Asia’s first-ever Consent Cafe, inaugurated by Shri Anoop Khinchi (IAS), Commissioner & Secretary, Health & Family Welfare, and Shri Thavaseelan…

19 Dec

ICICI Prudential Life Insurance sets new industry standard with 99.04% claim settlement ratio in Q2-FY2025

Business BureauBusiness

ICICI Prudential Life Insurance has reported a claim settlement ratio of 99.04% for Q2-FY2025, marking the highest in the industry. The company also boasted an exceptional average claim settlement time of just 1.2 days for death claims, reinforcing its commitment to providing quick and reliable services to policyholders. Amish Banker, Chief Operations Officer at ICICI Prudential Life Insurance, remarked, “Claims are the ultimate moment of truth, and we handle every claim with utmost sensitivity.” In the second quarter of FY2025, the insurer settled death claims totaling over Rs. 451 crore, with Rs. 71.24 crore processed under its “Claim for Sure”…

18 Dec

AkzoNobel India transforms the lives of over 800 drug-rehabilitated youth in NorthEast

Business BureauBusiness

AkzoNobel India, the makers of Dulux paints and Coatings, has celebrated the milestone three years of Project Revive – it’s skill building program in decorative painting that has transformed the lives of over 800 drug-rehabilitated youth in Assam, Manipur and Arunachal Pradesh. Project Revive was piloted by AkzoNobel in Manipur in December 2021 in collaboration with the Department of Social Welfare (Government of Manipur) and its NGO partner Makers Foundation. Here, identified vulnerable youth in 21 Drug Rehabilitation Centers (DRCs) across five districts of Manipur participated in AkzoNobel’s vocational skill training course in decorative painting. Rohit Totla, Executive Director of…

18 Dec

Madhya Pradesh sets Guinness World Record for largest simultaneous Hindu text recital

Business BureauBusiness

Madhya Pradesh made history by setting a Guinness World Record for the "Largest Simultaneous Hindu Text Recital" during the International Gita Mahotsav in Bhopal on Wednesday. A total of 3,721 participants recited verses from the Bhagavad Gita, uniting in devotion and marking a significant cultural milestone. The event, organized by the Department of Culture and led by renowned consultant NischalBarot, aimed to promote the timeless teachings of the Bhagavad Gita while showcasing the state's cultural heritage. Chief Minister Dr. Mohan Yadav, who presided over the event, praised the achievement as a testament to the state's spiritual and cultural strength. "This…

18 Dec

India’s gold import increase: Threat to trade balance, urgent action needed

Priyanka RoyBusiness, latest

New Delhi, Dec 17 Think tank GTRI on Tuesday said India's gold imports have increased alarmingly, posing a potential threat to its trade balance and economic stability, and the government should take action to address the issue. According to commerce ministry data, the country's gold imports rose to a record high of $14.86 billion in November, registering a four-fold increase, mainly due to festival and wedding demand.Gold imports stood at $3.44 billion in November 2023. GTRI said imports are driven by a number of factors, including rising investment demand, tariff cuts and loopholes in trade agreements. The surge has raised…

17 Dec

TKM launches All-New Camry Hybrid Electric Vehicle in India

Business BureauBusiness

Toyota Kirloskar Motor has unveiled the All-New Camry hybrid electric vehicle, designed to be a "Sedan to the Core”. Reiterating its commitment towards realising the carbon-neutral goals, the All-New Camry Hybrid Electric Vehicle is equipped with advanced 5th generation hybrid technology, delivering significantly improved efficiency and enhanced performance. This new model brings unmatched sophistication with cutting-edge safety features, elevated exteriors and interiors, seamless technology integration, thereby deliver the unique aspirations of the consumers. The All-New Camry Hybrid Electric Vehicle is more than a car—it’s a reflection of refined style and exclusiveness. Speaking on the launch of new model, Mr. Masakazu…