Business

28 Oct

Bandhan Bank sees 24% surge in total business, eyes retail expansion

Business BureauBusiness

Bandhan Bank has reported impressive financial results for Q2 FY2024-25, with total business growth reaching 24%, amounting to ₹2.73 lakh crore. The bank's deposits rose by 27% year-on-year to ₹1.43 lakh crore, with retail deposits now accounting for nearly 68% of the total. The current account and savings account (CASA) ratio stands at a solid 33.2%, reflecting robust customer engagement. Ratan Kumar Kesh, Interim MD & CEO of Bandhan Bank, commented, “Our strong performance reflects our focus on effective risk management and compliance. The trust of our customers is our biggest asset.” The bank now serves over 3.5 crore customers…

26 Oct

Indusind Bank Q2 earnings: Net profit lapse 40%, provisions rise

Priyanka RoyBusiness, News

The earnings were announced after the market opened. The stock closed steady at Rs 1278.90 on BSE. The market capitalisation of the lender stood at Rs 99,625 crore.Private sector lender Indusind Bank on Thursday reported a 40 per cent drop in net profit for the September 2024 quarter. Profit declined to Rs 1,331 crore in the second quarter, lower than Street estimates. Profit was hit by a rise in provisions for bad loans in the previous quarter. In the September 2023 quarter, the lender reported a profit of Rs 2181 crore.Provisions and contingencies rose 87% to Rs 1,820 crore in…

25 Oct

Festival Edition of Toyota Rumion launches by Toyota Kirloskar Motor

Business BureauBusiness

Making this festive season special for car buyers, Toyota Kirloskar Motor (TKM) has introduced the Festive Edition of the Toyota Rumion. This Limited Edition, featuring exclusive Toyota Genuine Accessory (TGA) packages aimed at enhancing the Rumion's aesthetics and comfort, is the perfect mobility choice to celebrate the season in elegance and style. This festive edition of the Rumion, available across all grades, comes with a dealer-fitted TGA package worth ₹20,608, ensuring that customers enjoy a premium experience. Commenting on the introduction of the festive editions, Mr. Sabari Manohar, Vice President, Sales-Service-Used Car Business, Toyota Kirloskar Motor, said, “We are thrilled…

25 Oct

9th Edition of Brahmaputra Valley Film Festival Aims to Catalyze Economic Opportunities

Business BureauBusiness

Brahmaputra Valley Film Festival (BVFF) has announced the highly anticipated 9th edition, which is scheduled to take place from December 5th to December 8th, 2024, at Jyoti Chitraban Film Studio in Kahilipara, Guwahati. This year, the festival is set to captivate audiences with a vibrant selection of films, showcasing powerful stories from the Northeast region and beyond. With more than 220 film entries submitted this year, the festival will present a vibrant selection of films across both competitive and non-competitive sections, featuring categories such as feature films, documentaries, and short films. Over the years, BVFF has screened over 280+ films…

25 Oct

NTPC Q2 results: Profit may inflation 10-15%, sales growth likely to slow

Priyanka RoyBusiness, News

Sharekhan said NTPC's generation and sales will remain weak, but its net profit will grow 14.9 percent year-on-year with the increase in regulated equity.NTPC is expected to report double-digit growth in net profit on low single-digit growth in sales for the September quarter. Ebitda is seen growing by 13-15 percent, aided by recent capacity additions, higher consultancy and project management fees and plant load factor (PLF).Kotak Institutional Equities witnessed weak output, declining 6 percent YoY due to unfavourable base, but healthy growth in PAT reflecting growth in regulated equities - up 9 percent. Reported PAT in Q2FY24, which would include…

24 Oct

Federal Bank and News18 launch national cancer awareness campaign at ‘Sanjeevani’ convention

Business BureauBusiness

Federal Bank Hormis Memorial Foundation and News 18 Network have held a national convention on cancer awareness under the second phase of the ‘Sanjeevani: United Against Cancer’ programme, with Tata Trusts as knowledge partners. It brought together key stakeholders, industry leaders, and top bureaucrats who engaged in discussions around raising awareness and early detection of cancer. In India, cancer is estimated at nearly 15 lakh cases annually, making it the country with the third-highest number of cases after the US and China. To tackle India’s growing cancer epidemic, Sanjeevani over the years has been working through partnerships to push the…

24 Oct

SBI Life Q2 profit gain 39% to Rs 529 crore

Priyanka RoyBusiness, News

SBI Life Insurance has reported an impressive 39% growth in consolidated net profit in Q2 FY25 to Rs 529 crore from Rs 380 crore in the same quarter last year. This growth reflects the strong financial performance of the company in the competitive insurance market.Despite the rise in profits, net premium income grew a marginal 1%, standing at ₹20,266 crore for the July-September 2024 period.First year premium income witnessed a growth of 6%, rising to Rs 4,915 crore from Rs 4,633 crore in the previous year.These results reflect SBI Life's continued growth in the insurance sector, driven by strategic premium…

23 Oct

PNB shares increase 1.63% as Sensex rises

Priyanka RoyBusiness, News

Shares of Punjab National Bank traded at Rs 96.5 on BSE at 01:33pm (IST) on Wednesday, up 1.63 per cent from its previous close.The 52-week low price of this stock was Rs 67.34 and the highest price was Rs 142.9.Earlier, the stock witnessed a rise in the morning.A total of 1,881,735 lakh shares were traded on the counter till 01:33 pm (IST).The market value of Punjab National Bank stock is Rs 111021.83 crore.The stock traded at a price-to-earnings (P/E) multiple of 9.43, while the price-to-book value ratio stood at 1.34. The return on equity (ROE) stood at 8.92 per cent,…

23 Oct

Byatikram to celebrate Sachin Dev Burman’s legacy with Zubeen Garg Award in Guwahati

Business BureauBusiness

Byatikram, a prominent socio-cultural organization committed to fostering cultural ties in the North East, will honor the legacy of legendary music composer Sachin Dev Burman on October 28, 2024, at the Pragjyoti ITA Center in Machkhowa, Guwahati. The event, supported by the Information and Cultural Affairs Department of Tripura, will commence at 5 PM. A highlight of the evening will be the "S D Burman Memorial Byatikram Lifetime Achievement Award 2024," presented to renowned Assamese musician Zubeen Garg. Celebrating this recognition, Garg remarked, “Like Dr. Bhupen Hazarika, Sachin Dev Burman is the pride of the North East. It is an…

23 Oct

Avon India unveils “I Am Shakti” campaign; celebrates women’s strength and entrepreneurship

Business BureauBusiness

As Durga Puja transitions into Diwali, Avon India has proudly unveiled its “I Am Shakti” campaign—a tribute to the remarkable women who embody the divine strength of goddesses Durga and Lakshmi. This campaign celebrates the resilience, leadership, and determination of Avon representatives who, like these deities, possess qualities of strength and prosperity. Through “I Am Shakti,” Avon highlights the inspiring stories of women who have not only supported the brand but also transformed their own lives and communities. These women reflect the power of Durga’s courage and Lakshmi’s abundance, showcasing the impact of their journeys on others. Snigdha Suman, GM…