Thursday, July 16

Business

Nothing announces unprecedented festive discounts on Flipkart Big Billion Days
Business

Nothing announces unprecedented festive discounts on Flipkart Big Billion Days

As the festive season approaches, London-based tech company Nothing has announced jaw-dropping discounts on its Nothing and CMF product lines for Flipkart's Big Billion Days sale. Shoppers can snag the Nothing Phone (2a) for ₹18,999 (with a ₹1,000 bank discount) and the Nothing Phone (2a) Plus at ₹23,999 (with a ₹2,000 bank discount)—their lowest prices ever. The CMF Phone 1 will also be available at ₹12,999, while the CMF Watch Pro and CMF Buds Pro will sell for ₹2,499 each. The Nothing Ear is priced at ₹7,999, and the newly launched Power 100W Charger will retail at ₹3,499. Shillong, a hub for savvy smartphone users, is set to embrace these deals with enthusiasm. Known for its trend-conscious tech buyers, the city is likely to witness a surge in demand, especially with the com...
Tata Motors shares upgrade 2% on JLR’s £500 million electric SUV investment plan
Business, News

Tata Motors shares upgrade 2% on JLR’s £500 million electric SUV investment plan

Shares of Tata Motors Ltd rose more than 2 per cent to Rs 986.4 in the afternoon on September 26 after its British arm, Jaguar Land Rover, announced plans to spend 500 million pounds ($669 million) on rebuilding one of its factories in England, which is set to start building electric SUVs.Jaguar Land Rover (JLR), maker of Range Rover and Land Rover vehicles, has announced plans to double its investment at its Halewood plant near Liverpool, taking total spending to £500 million over the coming years. The company has invested £250 million in the facility over the past 12 months, aiming to make it JLR's first fully electric plant.Despite its increased investment, JLR warned that the cost of its transition to electric vehicles (EVs) will be higher than initially estimated, because of waning c...
Bandhan Bank shares downgrade after chief audit executive resigns
Business, News

Bandhan Bank shares downgrade after chief audit executive resigns

Shares of private lender Bandhan Bank Ltd fell on September 25 after its chief audit executive resigned to "explore alternative opportunities".In a stock exchange filing on September 24, Bandhan Bank said chief audit executive Ravi Lahoti has resigned and his last working day at the bank will be December 21, 2024."Ravi Lahoti, Chief Audit Executive of the Bank, has decided to explore alternative opportunities and has accordingly tendered his resignation from the services of the Bank vide a letter dated September 23, 2024," Bandhan Bank said in a stock exchange filing.At 10:55 am on September 25, Bandhan Bank shares were trading lower by 1.3 per cent at Rs 205.06 per share.Lahoti said in his resignation letter, "I have worked in the internal audit and AML domain for over 20 years, includin...
Utkarsh Small Finance Bank innovates for inclusion: 15 new outlets mark a milestone
Business

Utkarsh Small Finance Bank innovates for inclusion: 15 new outlets mark a milestone

Celebrating 15 years of service, Utkarsh Small Finance Bank Limited (Utkarsh SFBL) has inaugurated 18 new banking outlets across India, increasing its total to 966. This expansion highlights the bank's unwavering commitment to financial inclusion, with new branches strategically located in states such as Bihar, Himachal Pradesh, and Madhya Pradesh. Chairman Parveen Kumar Gupta stated, “This milestone reflects our dedication to empowering communities with accessible banking solutions.” MD & CEO Govind Singh noted the bank's journey, emphasizing its focus on delivering customer-centric products. In Shillong, the introduction of new outlets is set to cater to the growing demand for financial services, particularly among local businesses and residents. By providing a diverse range o...
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...