Business

04 Jun

Successful Conclusion of the North East Sustainable Business and Entrepreneurship Conclave by School of Livelihood and Rural Development – YesEarth in collaboration with State Pollution Control Board, Assam

Business CorrespondentBusiness

The School of Livelihood and Rural Development - YesEarth, in collaboration with the Pollution Control Board, Assam, is pleased to announce the successful conclusion of the North East Sustainable Business and Entrepreneurship Conclave held on June 2, 2024. The event, part of the Golden Jubilee celebrations of the Pollution Control Board, Assam marked a significant milestone in fostering sustainable business practices and addressing environmental challenges. Event Highlights: The conclave, held at Taj Vivanta, Guwahati, brought together over 300 business leaders, entrepreneurs, policymakers, and sustainability advocates. The one-day event featured keynote addresses, expert panels and discussions focused on sustainable business practices,…

04 Jun

Tata Motors reported total sales of 76,766 units in May 2024

Business BureauBusiness

Tata Motors Limited reported a total sales volume of 76,766 units for May 2024, a 2% year-over-year increase from the 74,973 units sold in May 2023. This growth was driven by robust performance in both domestic and international markets. Commercial Vehicles (CV): HCV Trucks: Sales decreased by 3% to 7,924 units. ILMCV Trucks: Notably surged by 30%, reaching 4,478 units. Passenger Carriers: Increased by 22% to 4,737 units. SCV Cargo and Pickup: Declined by 6%, totaling 11,337 units. CV Domestic Sales: Grew by 3% to 28,476 units. CV International Business (IB): Fell by 14% to 1,215 units. Overall, total CV…

04 Jun

TKM reported 25,273 units sold in May 2024, Records 24% Growth

Business BureauBusiness

Toyota Kirloskar Motor (TKM) experienced a steady performance, with sales of 25,273 units in May 2024, indicating robust growth. This represents a Year-on-Year growth of 24% compared to May 2023, when the company sold 20,410 units. In the month of May, domestic sales reached 23,959 units, complemented by an additional 1,314 units exported. The company also posted a growth of 23% over the month of April’ 2024, which saw sales of 20,494 units.This achievement also marks a notable 48% surge in the first five months of CY 2024, with total sales reaching 1,22,776 units, up from 82,763 units in the…

04 Jun

Gross GST revenue collection in May 2024 stands at ₹1.73 lakh crore; Recorded 10% upturn year-on-year

Priyanka RoyBusiness, News

Mumbai: Gross goods and services tax (GST) revenue for May 2024 stood at ₹1.73 lakh crore. This represents a 10 percent year-on-year increase, driven by strong growth in domestic transactions (up 15.3%) and a slowdown in imports (down 4.3%). After accounting for refunds, the net GST revenue for May 2024 is ₹1.44 lakh crore, showing a growth of 6.9% over the same period last year.The gross GST collection in the financial year 2024-25 till May 2024 stood at ₹3.83 lakh crore. This represents an impressive growth of 11.3% year-on-year, driven by strong growth in domestic transactions (up 14.2%) and modest…

03 Jun

Sensex growth over 3.5% on optimistic exit poll results, Nifty crosses 23,300 points

Priyanka RoyBusiness, News

Domestic equity indices opened at record highs on Monday after exit polls predicted a hat-trick for Prime Minister Narendra Modi in the results of the recently concluded Lok Sabha elections. Analysts said better than expected gross domestic product (GDP) of 8.2% in FY24 and S&P revising India's rating outlook to positive from stable also buoyed the market. BSE Sensex crossed the 76,500 mark for the first time on Monday. The 30 share index opened 2,621.98 points or 3.55% higher at 76,583.29. Nifty opened at a record high of 23.337.9 with a gain of 807.2 points or 3.58%. An average of…

03 Jun

Hero Motocorp launches the latest generation of the iconic Splendor – the Splendor+XTEC 2.0

Business BureauBusiness

Hero MotoCorp has launched the latest generation of the iconic Splendor – the Splendor+XTEC 2.0 – to celebrating the 30th anniversary of the world’s highest-selling motorcycle. This premium and tech-laden Splendor keeps its iconic design while integrating modern elements such as LED headlights with HIPL (High Intensity Position Lamp), a unique H-shaped signature tail lamp that gives it a distinctive appearance and multiple convenience & safety features. Showcasing its all-around dominance, the motorcycle boasts excellent fuel efficiency of 73 kmpl. The Splendor+ XTEC 2.0 boasts a digital speedometer, Eco-indicator, RTMI, Bluetooth connectivity, hazard lights, longer seat, and a larger glove…

03 Jun

Amul milk price rises by Rs. 2 per liter nationwide

editorBusiness

The Gujarat Cooperative Milk Marketing Federation (GCMMF) has announced that Amul milk price is increased by Rs 2 per litre, due to overall cost of operation and to compensate farmers for their increased cost of production. The GCMMF issued notice saying, "This price hike is being done due to an increase in the overall cost of operation and production of milk. Our member unions have also increased farmers’ compensation by approximately 6-8 per cent over the last one year." Further, the Amul milk price hike will be effective by today, Monday over nationwide.

01 Jun

IIFL Samasta Offers 10.50% Return Per Annum on Bonds

Business BureauBusiness

IIFL Samasta Finance, India's largest non-banking microfinance company, plans to raise Rs 1,000 crores through a public issue of secured bonds for capital augmentation and business growth. The bonds offer up to 10.50% and high degree of safety. The issue opens on Monday, June 3, 2024 and closes on Friday, June 14, 2024. IIFL Samasta Finance will issue bonds, aggregating to Rs 200 crore, with a green-shoe option to retain over-subscription of up to Rs 800 crore (aggregating to a total of Rs 1,000 crore). The IIFL Samasta bonds offer highest coupon rate of 10.50% per annum for tenor of…

01 Jun

Bank credit grew 15.3% in April: RBI

Priyanka RoyBusiness, Economy, News

The Reserve Bank of India (RBI) said the banking sector recorded higher credit growth in the first month of FY24, led by an increase in advances to the agriculture sector.On a year-on-year basis, non-food bank credit grow by 15. %3 in April compared with 16.2% growth a year earlier. In absolute terms, bank non-food credit stood at Rs 159.55 lakh Crore in April compared to Rs 138.38 lakh Crore in April 2023.RBI's sectoral deployment of bank credit for April 2024 showed that credit to agriculture and allied activities increased to 19.7% in April 2024 from 16.8% a year ago.Growth in…

01 Jun

Experience the Future of Professional Cooking and Baking: UNOX Ovens, in Collaboration with Opus Innovation, Launches UNOX Lounge in Guwahati

Business CorrespondentBusiness

UNOX, a leading Italian brand renowned for its high-performance commercial ovens designed for the food service, retail, pastry, and bakery sectors, has proudly inaugurated its cutting-edge UNOX Lounge in Guwahati, Assam. This innovative Lounge, launched by UNOX in collaboration with its dealer Opus Innovation, offers potential customers a unique and immersive experience with UNOX’s professional ovens before making a purchase. The UNOX Lounge is meticulously designed to showcase the extensive range of UNOX's advanced baking and cooking equipment, including convection ovens, combi-ovens, speed ovens, and more. The facility is equipped with modern amenities where professional chefs from UNOX will demonstrate…