Wednesday, February 4

Business

NESFB soars after merger with Slice, strengthens market position in Northeast
Business

NESFB soars after merger with Slice, strengthens market position in Northeast

North East Small Finance Bank (NESFB) has reported significant financial growth after its successful merger with slice on October 27, 2024. The merger combines NESFB's solid banking foundation with slice's technological innovation, enhancing the bank's financial strength and operational efficiency. The bank now boasts a robust Capital to Risk-weighted Assets Ratio (CRAR) of 23.5%, ensuring its ability to absorb risks while driving future growth. With its net worth soaring to ₹920 crores, NESFB is well-positioned for further strategic expansion, particularly in the underserved Northeast region. Its improved Net Non-Performing Assets (NNPA) of 4.6% highlight better asset quality, reflecting the bank's disciplined approach to risk management. Mr. Satish Kumar Kalra, Managing Director &...
Toyota Kirloskar Motor celebrates 1 lakh innova HyCross sales milestone in India
Business

Toyota Kirloskar Motor celebrates 1 lakh innova HyCross sales milestone in India

Toyota Kirloskar Motor (TKM) has marked an exciting milestone, reaching 1,00,000 units sold of the Innova HyCross in India, just two years after its launch. This milestone is a testament to the vehicle’s increasing popularity and reflects the growing demand for its blend of cutting-edge technology, unmatched comfort, and sustainability. Launched in November 2022, the Innova HyCross has quickly become a favorite for customers across India, especially in tier 2 and tier 3 markets. Built on Toyota’s renowned Global Architecture (TNGA), the model features a 5th Generation Self-Charging Hybrid Electric System that combines a powerful 186 PS output with impressive fuel efficiency. The vehicle operates in electric mode up to 60% of the time, offering a seamless combination of performance and ...
Oil prices progress, headed for weekly gain on Russia-Ukraine tensions
Business, News

Oil prices progress, headed for weekly gain on Russia-Ukraine tensions

Oil prices rose in Asian trade on Friday as traders placed a higher risk premium on crude oil amid growing concerns over Russia and Ukraine, capping a positive week. Supply disruptions in Norway and a brief drop in the dollar also supported oil prices early in the week, along with reports that the Organization of Petroleum Exporting Countries and allies (OPEC+) were likely to postpone planned production increases. The increased risk premium helped oil weather a bigger-than-expected rise in U.S. stockpiles. Brent oil futures for January expiration rose 0.4% to $74.54 a barrel, while West Texas Intermediate crude futures rose 0.5% to $70.10 a barrel by 20:44 ET (01:44 GMT). Both contracts were trading between 4% and 5% higher for the week. Russia-Ukraine tensions lead oil to wee...
Apple India’s net profit inflation 23 percent to Rs 2,746 crore in FY24, revenue grew to Rs 67,152 crore.
Business, News

Apple India’s net profit inflation 23 percent to Rs 2,746 crore in FY24, revenue grew to Rs 67,152 crore.

The company's total income grew 36 percent to Rs 67,121.6 crore in FY24.iPhone maker Apple India has reported a 23 per cent rise in net profit to Rs 2,745.7 crore in FY2023-24.This information has been given in the company's regulatory filing shared by Tofler.Apple India had reported a net profit of Rs 2,229.6 crore in FY23. The company reported a 36 per cent rise in total income in FY24, rising to Rs 67,121.6 crore from Rs 49,321.8 crore in FY23.Toffler said, "Apple India Private Limited, which provides and markets Apple brand products and software, including mobile devices and laptops, reported revenue of Rs 67,122 crore for FY 2023-24, an increase of 36 per cent over the previous fiscal. The company's total expenses for the financial year (year) were reported at Rs 63,397 crore."
Shilpa Medicare shares upgrade 6 per cent on CEP approval from EDQM
Business, News

Shilpa Medicare shares upgrade 6 per cent on CEP approval from EDQM

Shilpa Medicare shares rose over 6 per cent in early trade on November 19, after it announced that its subsidiary Shilpa Pharma Lifesciences has received two Certificates of Suitability (CEPs) from the European Directorate for Medicines and Healthcare Quality (EDQM).At 1.15 pm, Shilpa Medicare shares were trading over 3 per cent higher at Rs 892. The stock has rallied a massive 180 per cent on a year-to-date basis, outperforming the Nifty 50 by a huge margin, which gained 9 per cent during the same time period.The first CEP received on November 18 was for Octreotide The second CEP approval received on November 19 was for Nifedipine, an active pharmaceutical ingredient (API) classified as a calcium-channel blocker.Nifedipine is widely used for the management of hypertension and angina by r...
Durex TBBT leads the charge for youth empowerment at Shillong Cherry Blossom Festival 2024
Business

Durex TBBT leads the charge for youth empowerment at Shillong Cherry Blossom Festival 2024

Durex The Birds and Bees Talk (TBBT), an impactful program by Reckitt, global leaders in consumer health and hygiene, has once again made a significant mark at the highly anticipated Shillong Cherry Blossom Festival 2024. The event was inaugurated by Shri. Conrad K. Sangma, Hon’ble Chief Minister of Meghalaya, alongside Shri. Sniawbhalang Dhar, Deputy Chief Minister, Government of Meghalaya, Shri. Paul Lyngdoh, Hon’ble Minister of Tourism, Government of Meghalaya, and Shri Jyotiraditya M. Scindia, Hon’ble Union Minister of Development of the North-Eastern Region, Government of India, among other dignitaries. In collaboration with the Department of Health, Durex The Birds and Bees Talk sparked conversations about growing up life skills at the festival’s only and biggest health pavilion....
Crompton Greaves shares inflation 7% on the back of a stellar second quarter performance
Business, News

Crompton Greaves shares inflation 7% on the back of a stellar second quarter performance

Shares of Crompton Greaves Consumer Electrical rose 7 per cent after the company reported a rise in its consolidated net profit and revenue for the quarter ended September. At 1.40 pm, Crompton Greaves shares were trading 4 per cent higher at Rs 385. The stock has gained 23 per cent on a year-to-date basis, outperforming the Nifty 50, which rose 8 per cent during the same time frame. The company reported a 27.8 per cent rise in consolidated net profit to Rs 124.9 crore, while revenue from operations rose 6.4 per cent to Rs 1,896 crore. Segment-wise, revenue from electric consumer durables (ECD) grew to Rs 1,392.7 crore from Rs 1,238 crore. Lighting products revenue also saw a marginal increase, rising to Rs 253 crore from Rs 238.7 crore. However, revenue from butterfly products d...
Narmada Agrobase Q2 results: Company reports upgrade in net profit on lower expenses
Business, News

Narmada Agrobase Q2 results: Company reports upgrade in net profit on lower expenses

Narmada Agrobase Ltd has reported a manifold jump in net profit to Rs 1.29 crore in the July-September quarter on lower expenses. Revenue from operations for the second quarter of 2024-25 stood at Rs 10.24 crore as against Rs 11.40 crore in the previous year, the company said in a statement. Expenses declined to Rs 8.51 crore in the second quarter of FY25 from Rs 11.24 crore in the year-ago period. Operating profit or earnings before interest and tax depreciation amortisation increased to Rs 2.06 crore due to lower inventory and raw material costs. The company remains optimistic about its growth prospects in the next quarters with continued focus on key growth factors such as expansion into new markets, enhancing product offerings, the company said in a statement. The company ...
Toyota makes year-end special with limited editions of Glanza, Urban Cruiser Taisor & Hyryder
Business

Toyota makes year-end special with limited editions of Glanza, Urban Cruiser Taisor & Hyryder

Toyota Kirloskar Motor (TKM) is excited to make this year-end memorable for car buyers with the launch of the Special Limited Edition across its popular models — Glanza, Urban Cruiser Taisor and Urban Cruiser Hyryder. Following the overwhelming response to the recently introduced Festival Limited Editions, the Special Limited-Edition takes Toyota’s commitment towards customer centricity a step further by offering Toyota Genuine Accessory (TGA) packages. By allowing customers to personalize their vehicles, the Special Limited-Edition allows buyers to own a special upgraded version of their preferred Toyota model with a blend of style and enhanced functionality. Mr. Sabari Manohar – Vice President, Sales-Service-Used Car Business, Toyota Kirloskar Motor said, “We are thrilled by the trem...
Jio Financial Services shares upsurge 7 on inclusion in F&O contract
Business, News

Jio Financial Services shares upsurge 7 on inclusion in F&O contract

Shares of Jio Financial Services rose 7 to an intraday high of Rs 320.50 after NSE included the company in F&O contract.NSE released that futures and options contracts on 45 stocks, including Jio Financial Services, will start trading from November 29.In a indirect, NSE said, “ Members are advised to note that predicated on the stock selection criteria laid down by SEBI vide indirect no. SEBI/ HO/ MRD/ MRD- POD- 2/ P/ CIR/ 2024/116 dated August 30, 2024 and upon receipt of approbation from SEBI, members are hereby notified that futures and options contracts on the following 45 fresh securities will be available for trading from November 29, 2024. Jio Financial Services Q2 PerformanceThe company reported a 3 rise in its net profit for the alternate quarter of FY25 to Rs 668 crore as...