Thursday, September 19

Business

Toyota Kirloskar Motor accelerates drive for gender equality ahead of Women’s Equality Day
Business

Toyota Kirloskar Motor accelerates drive for gender equality ahead of Women’s Equality Day

As Women's Equality Day approaches on August 26th, Toyota Kirloskar Motor (TKM) has reaffirmed its dedication to gender equality and the empowerment of women within its workforce and beyond. Aligning with the United Nations Sustainable Development Goals (SDGs), particularly SDG 5 (Gender Equality) and SDG 8 (Decent Work and Economic Growth), TKM is making significant strides toward creating a more inclusive and diverse workplace. A key goal for TKM is to increase women's representation in its workforce to 30% by 2030. To achieve this, the company has launched several Diversity, Equity, and Inclusion (DEI) initiatives, including forming a dedicated senior-level DEI team and aligning its efforts with the International Labour Organization's 2030 agenda. TKM recently celebrated a major mil...
The employment growth rate of Indian industry has downfall to 1.5% in FY 2024, while it was 5.7% in FY 2023
Business, News

The employment growth rate of Indian industry has downfall to 1.5% in FY 2024, while it was 5.7% in FY 2023

According to a latest report released by Bank of Baroda (BoB), the employment scenario in the Indian corporate sector looks bleak.The public sector bank, based on an analysis of balance sheets of 1,196 companies, pegged the employment growth rate at 1.5% in FY24, down from 5.7% in FY23.In absolute terms, companies added less than 100,000 employees in FY2024, compared to 333,000 in FY23.The reason for the decline in employment growth rate is the increase in hiring after the pandemic in FY 2023. According to the report, the same financial year also saw significant attrition including voluntary and involuntary resignations. However, the need to increase employment was not as evident in FY2014, especially as some sectors rationalized staff based on business requirements.The IT sector, with ab...
NESFB leverages innovation: 30+ branch heads to drive digital banking expansion across Northeast
Business

NESFB leverages innovation: 30+ branch heads to drive digital banking expansion across Northeast

North East Small Finance Bank (NESFB) has announced a hiring drive to recruit Branch Heads across the Northeast. The bank plans to onboard over 30 new employees to strengthen its presence in Assam, North Bengal, Arunachal Pradesh, and Meghalaya. This initiative reflects NESFB's commitment to fostering employment and skill development in the region. The bank is seeking candidates with prior banking experience. The hiring drive is part of NESFB's broader mission to enhance financial inclusion, generate employment, and contribute to the Northeast's economic development. By expanding its workforce, NESFB aims to provide opportunities to build successful careers in the financial sector, thereby supporting the region's overall socioeconomic growth.  Interested candidates are encourag...
Private capital expenditure to inflation 54% to Rs 2.5 lakh crore in FY20: RBI study
Business, News

Private capital expenditure to inflation 54% to Rs 2.5 lakh crore in FY20: RBI study

Mumbai: Private sector capital expenditure is expected to grow by 54% in a year to reach Rs 2.45 lakh crore in 2024-25, compared to Rs 1.59 lakh crore in 2023-24, according to a study issued by the RBI.This significant inflation due to increasing domestic demand, improving corporate profitability, sustained credit demand, business optimism and government focus on infrastructure development.The analysis, which is based on projects sanctioned by banks and financial institutions during FY24, shows that the total cost of these projects has reached a record Rs 3.91 lakh crore, with 54% of the planned investment expected to be completed by the end of the financial year. Expected to be completed. Year. Total capital investment across various funding channels by the private corporate sector in FY...
JSW Cement to upgrade ₹4,000 via IPO, file draft docs with SEBI, set up Rajasthan Cement unit
Business, News

JSW Cement to upgrade ₹4,000 via IPO, file draft docs with SEBI, set up Rajasthan Cement unit

The issue comprises fresh equity sale of ₹2,000 crore and offer for sale (OFS) of ₹2,000 crore.The funds are to be used to set up a cement unit in Nagaur district of Rajasthan, repay certain borrowings and for other general purposes.The company said that it will invest ₹3,000 crore for the greenfield Rajasthan unit, and said it plans to expand into the North and Central India markets, as its current presence is mainly in Southeast and West India.The group's energy, ports and steel businesses are already listed. JSW Infrastructure is the latest before JSW Cement.JSW Cement MD and JSW Group scion Parth Jindal had revealed the listing plan in August 2023 and said the proceeds are to be used to achieve the group's 60 million tonne per annum (MTPA) plan. At present, it produces 20.60 MTPA.JSW ...
Black Box reports 55% inflation in net profit in Q1
Business, News

Black Box reports 55% inflation in net profit in Q1

IT solutions provider Black Box Ltd announced a 55 percent year-on-year rise in profit after tax (PAT) for the quarter ending June 30, 2024, reaching Rs 37 crore. PAT margin improved to 2.6 percent. An inflation of 110 basis points from last year. Black Box has also reported 28 percent year-on-year growth in EBITDA to Rs 115 crore in the quarter and is making efforts to achieve 9% EBITDA margin by the end of this financial year.Revenue for the quarter unbend at Rs 1,423 crore compared to Rs 1,571 crore in the first quarter of the last financial year. Despite this, the company's pipeline remains strong, with the order book growing to $475 million by June 30, 2024.Commenting on the results and performance, Sanjeev Verma, Whole-Time Director, Black Box, said that, “Our strategic exit from lo...
“NSE Commemorates 78 Years of Indian Independence with a Pledge to Nation-Building”
Business

“NSE Commemorates 78 Years of Indian Independence with a Pledge to Nation-Building”

As India celebrates its 78th Independence Day, the National Stock Exchange (NSE) reflects on its significant role in shaping the nation’s financial future. Shri Ashishkumar Chauhan, MD and CEO of NSE, delivered a poignant message that intertwines the spirit of independence with the exchange’s mission to foster economic growth and investor protection. Chauhan’s statement resonated with the ideals of freedom fighters who dreamed of a progressive and prosperous India. He remarked, “On the occasion of India’s 78th Independence Day, let us honour the sacrifices of our freedom fighters who envisioned a progressive and prosperous country. As a catalyst for wealth creation in India in addition to being a front-line regulator, we are committed to building a stronger and more inclusive na...
SpiceJet Q1 results: Net profit plunge 20% YoY to ₹158 crore
Business, News

SpiceJet Q1 results: Net profit plunge 20% YoY to ₹158 crore

New Delhi: Budget carrier SpiceJet Ltd on Wednesday reported a consolidated net profit of ₹158.2 crore for the quarter ended June 30, down 20% from a consolidated net profit of ₹197.6 crore a year ago.While the airline's total income declined by 8.3% to ₹2,077.8 crore, its total expenses declined by more than 7% year-on-year to ₹1,919.6 crore.In July, the Gurugram-based carrier reported its earnings for the December and March quarter of 2023-24 after a wait of more than six months. The airline reported a net loss of ₹299 crore in the December quarter and a net profit of ₹126.9 crore in the March quarter.SpiceJet is embroiled in a legal battle over payment of dues to aircraft lessors, vendors and suppliers and is facing contempt notices from the Delhi High Court and the National Company La...
Vi Announces Independence Day Offers with Extra Data and OTT Benefits for Prepaid Customers
Business

Vi Announces Independence Day Offers with Extra Data and OTT Benefits for Prepaid Customers

Telecom giant Vi (Vodafone Idea) has introduced a series of exclusive Independence Day offers for its prepaid customers, enhancing value with additional data and OTT subscriptions. The limited-time offers, valid from August 13 to August 28, 2024, are accessible only through the Vi App. Key highlights of the promotion include 30GB to 50GB of extra high-speed data for customers opting for half-yearly or annual recharge packs. The extra data remains valid for 45 days on half-yearly packs and 90 days on annual packs. Moreover, Vi is offering a one-year subscription to OTT platforms like Disney+ Hotstar and Amazon Prime Video with select annual recharges, at no extra charge. Customers using the Vi App for recharges can also avail discounts of up to ₹100 on select yearly plans. In Sil...
Students from Raid Shabonng Border Area govt Sec School   triumph at the cluster round of the National STEM Challenge
Business

Students from Raid Shabonng Border Area govt Sec School   triumph at the cluster round of the National STEM Challenge

Students from Raid Shabonng Border Area Government Secondary School emerged as winners in the Shillong cluster round of the National STEM Challenge 2023-24, organized by Brillio in collaboration with STEM Learning. The event, held at Lumparing Vidyapeeth, Shillong, marked a key milestone in the competition, which aims to promote STEM education among government and government-aided schools across India. The victorious students, Dapmon Khongbuh and Phibanritngen Suting, won the Science and Mathematics Model Making Competition, while Wanshandame Tynsong and Elisa Nengnong excelled in the Tech and Engineering Tinkering Competition. Their success propels them to the Zonal round, with an eye on the grand finale in Bengaluru. This achievement also shines a spotlight on Shillong’s educa...