Wednesday, March 11

Business

Vodafone Idea Partners with Global Firms for $3.6 Billion Network Expansion Initiative
Business

Vodafone Idea Partners with Global Firms for $3.6 Billion Network Expansion Initiative

Vodafone Idea (VIL) has finalized a landmark $3.6 billion (~Rs. 300 billion) deal with network giants Nokia, Ericsson, and Samsung, marking the largest capital investment in the company’s history. This three-year partnership is part of VIL's $6.6 billion capex plan to expand 4G coverage from 1.03 billion to 1.2 billion people and introduce 5G in key markets. CEO Akshaya Moondra emphasized VIL's focus on emerging technologies, stating, “This investment begins our journey toward a smart turnaround as we prepare to seize industry growth opportunities.” With this deal, VIL will deploy state-of-the-art equipment to enhance customer experience and reduce operating costs through energy-efficient systems. Initial rollouts have already improved network capacity by 15%. In Shillong, this netw...
Slowdown in Indian economy will impact Asia-Pacific region’s flourish in 2025: Moody’s Analytics
Business, News

Slowdown in Indian economy will impact Asia-Pacific region’s flourish in 2025: Moody’s Analytics

Moody's Analytics on Tuesday said that normalising growth in India will impact the performance of the Asia Pacific (APAC) region in 2025, as the Indian economy is projected to grow at 6.5 per cent in 2025 from an estimated 7.1 percent in 2024."Inflation in developing Asia will slow to 5.1 percent in 2024 and 4.9 percent in 2025, with sluggish economic inflation in China a key factor. Weak domestic demand will push Chinese domestic growth to 4.7 percent in 2024, well behind the official 5 percent target. Growth will slow to 4.6 percent in 2025," Moody's Ratings subsidiary said."Normalising growth in India will also impact the sector's performance. After a strong post-pandemic recovery to 7.8 percent in 2023, Indian gross domestic product (GDP) growth will slow to 7.1 percent in 2024 and 6....
Dyson enters audio market: OnTrac™ headphones combine style, comfort and best-in-class noise cancellation
Business

Dyson enters audio market: OnTrac™ headphones combine style, comfort and best-in-class noise cancellation

Dyson has introduced its first high-fidelity, audio-only headphones, the Dyson OnTrac™, in India, showcasing cutting-edge technology and design. Launched by Chief Engineer Jake Dyson and music icon Badshah, the headphones promise best-in-class Active Noise Cancellation (ANC), reducing external noise by up to 40dB, with real-time tracking via the MyDyson™ app. Priced at INR 44,900, Dyson OnTrac™ delivers an immersive listening experience, with a frequency range of 6Hz to 21kHz and up to 55 hours of battery life on a single charge. The product also boasts over 2,000 customizable color combinations for ear caps and cushions, offering consumers a blend of performance and style. In Shillong, Dyson’s entry into the premium headphone segment is expected to attract discerning buyers...
Shares inflation after NBCC bags order worth Rs 1,260 crore
Business, News

Shares inflation after NBCC bags order worth Rs 1,260 crore

Public sector National Buildings Construction Company (NBCC) Ltd said its wholly-owned subsidiary HSCC (India) Ltd has received an order.HSCC India has received an order worth Rs 1,260 crore from the Ministry of Health and Family Welfare, Government of India for setting up All India Institute of Medical Sciences (AIIMS) at Darbhanga, Bihar.The further scope of the order and execution timeline have not been specified by the company.Earlier this month, NBCC had signed a Memorandum of Understanding with cash-strapped MTNL Ltd to develop MTNL’s positive land block of around 13.88 acres in New Delhi. The project is said to be worth ₹1,600 crore.NBCC has approved the issue of bonus shares in the ratio of 1:2, which means shareholders will get one free share for every two shares held by them as ...
Coal imports upgrade 41% to 25.23 MT in July, demand expected to pick up: mjunction
Business, News

Coal imports upgrade 41% to 25.23 MT in July, demand expected to pick up: mjunction

India's coal imports rose 40.56 percent to 25.23 million tonnes (MT) in July, according to data compiled by B2B e-commerce platform mjunction Services.The country's coal imports stood at 17.95 MT in the same month last fiscal.Coal imports also increased to 100.48 MT in the April-July period of the current fiscal year from 89.11 MT a year ago.Mjunction Managing Director and CEO Vinay Verma said that import demand is expected to pick up in the coming weeks ahead of the festive season next month."Non-coking coal imports witnessed a increase due to softening of prices in the seaborne market. However, coking coal volumes declined due to weak demand from steel mills," Mjunction Services said.The share of non-coking coal in total imports in July was 16.52 MT, as against 10.16 MT imported in the ...
Lapse in employee strength of top PSUs in FY24, biggest drop in Coal India
Business, News

Lapse in employee strength of top PSUs in FY24, biggest drop in Coal India

The decline in employee headcount is not just limited to the IT sector. Public sector undertakings (PSUs) have also seen a decline in headcount in the last few years. All but four of the top 16 government-owned companies by market capitalisation have seen a decline in their headcount during FY24.A CNBC-TV18 analysis shows that 12 PSUs, including Coal India, State Bank of India (SBI) and Hindustan Aeronautics Limited (HAL), have cut their workforce by 23,306 in FY24 after cutting at the same level in FY23.The biggest decline in the number of employees was seen in Coal India, where 4% to 5% of its workers retire every year. The country's largest coal producer recorded a net reduction of 10,349 in the number of employees during the year.Its employee strength had declined by 9,340 in FY23. Th...
Retail inflation downgrade to 5.96% for agricultural workers, 6.08% for rural workers
Business, News

Retail inflation downgrade to 5.96% for agricultural workers, 6.08% for rural workers

Retail inflation for agricultural workers and rural labourers declined to 5.96 percent and 6.08 percent, respectively, in August, from 6.17 percent and 6.20 percent in July this year.The All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) recorded a rise of 7 points each in August 2024, reaching the levels of 1297 and 1309, respectively.The CPI-AL and CPI-RL in July were 1290 points and 1302 points, respectively.A labour ministry statement said that, "The year-on-year inflation rates based on CPI-AL and CPIRL for this month (August 2024) were recorded at 5.96 percent and 6.08 percent as against 7.37 percent and 7.12 percent in August, 2023. The corresponding figures for July, 2024 were 6.17 percent for CPI-AL and 6.20 percent for CPI-RL."
Royal Enfield launches its new range of lifestyle apparel & riding gear exclusively for women
Business

Royal Enfield launches its new range of lifestyle apparel & riding gear exclusively for women

Royal Enfield has announced its new women’s wear collection, designed to celebrate and empower female riders with a fusion of style, comfort, and protection. The collection features the innovative Streetwind Eco Riding Jacket, made from 75 recycled PET bottles, showcasing Royal Enfield's commitment to sustainability. Additional offerings include the Tourer Women’s Riding Jacket with advanced CE Level 2 protection, Ride More Leggings with high-abrasion Poly Lycra, and a range of stylish lifestyle apparel. Shillong has responded enthusiastically to the new collection, reflecting the city’s increasing interest in premium, fashionable riding gear. Local retailers report a surge in demand as female riders seek both high-performance and trendy options that match their adventurous lifesty...
India’s trade deficit widens to nearly $30 billion, exports downgrade by 9.3%
Business, News

India’s trade deficit widens to nearly $30 billion, exports downgrade by 9.3%

The Union Ministry of Commerce and Industry has released a data, according to which India's merchandise trade deficit has increased to $ 29.65 billion in August. According to the data, the trade deficit was $ 29.65 billion, while it was $ 23.5 billion in July and $ 20.98 billion in June.According to data released on Tuesday, India's merchandise exports in August fell 9.3 per cent to $34.71 billion from $38.28 billion in the same month last year. However, imports rose 3.3 per cent to $64.36 billion in August from $62.3 billion in the same month last year.Commerce Secretary Sunil Barthwal told the press, "The data shows that the slowdown in China, the impact of the recession on economies like the US and the European Union, and rising transportation costs have been challenges for exports." H...
Ola Electric shares jump 10%, hit upper circuit limit
Business, News

Ola Electric shares jump 10%, hit upper circuit limit

Shares of electric two-wheeler company Ola Electric Mobility Ltd jumped 10 per cent to hit the upper circuit limit on Tuesday.The stock closed 9.71 per cent higher at Rs 118.10 on the BSE. During the day's trade, it rose 9.98 per cent to Rs 118.40, which hit the upper circuit limit.The company's shares gained 10 per cent on NSE and hit a highest trading limit of Rs 118.36 for the day.The market valuation of the company stood at Rs 52,091.90 crore.Shares of Bhavish Aggarwal-led Ola Electric Mobility Ltd made their market debut on August 9 this year.The stock has so far jumped 55.39 per cent from the issue price of Rs 76.Ola Electric Mobility's Rs 6,145-crore initial public offering was subscribed 4.27 times last month.The price range for the initial share sale was Rs 72-76 per share.Ola El...