Business

Indian Oil Corporation (IOC) on Tuesday reported a 52 percent decline in fourth quarter profit as the company sold fuel below market prices due to inventory losses. While India is the world's third-largest oil importer and consumer, Indian Oil controls about a third of India's five million barrel-per-day refining capacity with its unit Chennai Petroleum. However, India has been buying increasingly cheaper Russian oil as discounts have fallen from $30 a barrel in 2022 to less than $10 this year, while refiners also cut fuel prices at the pumps ahead of this year's general elections. IOC reported a 52% decline in profit to 48.38 billion rupees ($579.77 million) in the quarter ended March 31. Refiners purchase crude oil and practice it after a gap of 45 to 60 days. Inventory gains are ...

Toyota Kirloskar Motor (TKM) has opened bookings for the New Grade G-AT of the Toyota Rumion and reopened E-CNG bookings. The newly launched G-AT variant is expected to further boost the market acceptance of the Rumion with its unmatched space and comfort, excellent fuel efficiency, stylish and premium exterior design. The New Grade G-AT, priced at Rs. 13,00,000 Ex-showroom. Bookings start on 29th April at Rs. 11,000/, and E-CNG bookings also reopen. The Toyota Rumion G-AT variant is powered by a 1.5-litre K series petrol engine with 6-speed Automatic Transmission, featuring Neo Drive (ISG) technology for responsive performance. The petrol grade has a power output of 75.8 kw @6000 rpm and torque of 136.8 Nm @4400 rpm, while the CNG grade boosts 64.6 kw output @5500 rpm and torque of 12...

Tata Motors has inaugurated a state-of-the-art spare parts warehouse in Guwahati. Spanning an expansive 1 lakh square feet, this groundbreaking facility stands as the first of its kind in the region, promising seamless availability of Tata Genuine spare parts across the North East. This fully digitalized warehouse represents a milestone in Tata Motors' commitment to optimizing the vehicle ownership experience. Stocking spare parts for its entire commercial vehicle portfolio, the facility ensures faster turnaround times and easier accessibility of crucial components at Tata Authorized Service Stations in the region.Equipped with world-class infrastructure and cutting-edge safety measures, the warehouse incorporates advanced storage systems, including gravity spiral and vertical reciproc...

Toyota Kirloskar Motor Pvt. Ltd. (TKM) has launched its innovative car care brand, "TGLOSS," in line with its customer-first philosophy. In response to the rapidly increasing demand for high quality and reliable car detailing services among customers in India, TKM is set to redefine the car care industry with its comprehensive range of solutions tailored specifically for Toyota vehicles. Starting May 1, 2024, Toyota dealerships in India will offer "TGLOSS" treatments, providing customers with quality car care solutions in a professional manner. TKM will offer a range of services under the "TGLOSS" brand, including ceramic coating, underbody coating, silencer coating, and internal panel protection, to enhance a vehicle's appearance and protect it against environmental elements. This is ...

In a response to the allegations made against the spices of MDH, it said its products doesn't contain ethylene oxide or any other harmful products as well as the company has not got any communication from regulators and authorities in Hong Kong or Singapore about alleged contamination in its products. Hong Kong earlier this month banned the selling of 3 MDH spice blends and an Everest spice mix for fish curries. Singapore ordered a recall of the Everest spice mix as well, saying the spices contains high levels of ethylene oxide, which is harmful for human consumption and a cancer risk with long exposure. "We reassure our buyers and consumers that we do not use ethylene oxide at any stage of storing, processing, or packing our spices," MDH said in a statement on Sunday.

Yes Bank Q4 Results Highlights: Indian private lender Yes Bank reported a significant 123% year-on-year growth in net profit for the fourth quarter (Q4) of FY24,increased to ₹452 crore from ₹202.4 crore in the same quarter last year, well above analysts' expectations. Sequentially, profits increased 95.2% from the previous quarter, according to the earnings report dated April 27, 2024. Net interest margin (NIM) remained stable at 2.4% for Q4FY24, in line with the previous quarter. The bank experienced strong growth in non-interest income, With a growth of 56.3% year-on-year and 31.3% quarter-on-quarter growth in Q4FY24, Resulting in 38.8% year-on-year growth for FY24. CEO said ; The bank's return on assets (ROA) increased to 0.5 per cent in Q4FY24 from 0.2 per cent in both ...

HDFC Life, a prominent Indian insurer, has partnered with Peerless Financial Products Distribution Ltd. (PFPDL) for a corporate agency deal. This partnership would enable PFPDL to distribute life insurance products of HDFC Life to its customers. PFPDL is a subsidiary of the Peerless General Finance & Investment Co. Ltd (PGFI), one of India’s oldest and biggest NBFCs in East India. PFPDL has 40 branches with a broad customer base across 42 locations. Peerless Financial Services Ltd (PFPDL) is partnering with HDFC Life to provide financial protection to its customers. The partnership aims to enhance HDFC Life's presence in India, which has a low life insurance penetration compared to global markets. The partnership will allow customers to choose their preferred service mode. HDFC Lif...

Toyota Kirloskar Motor (TKM) has launched its latest masterpiece, the Fortuner LEADER EDITION, promising an unparalleled blend of style, performance, and innovation. Since its inception in 2009, the Fortuner has captured the hearts of SUV enthusiasts, with over 251,000 units sold to date. Now, with the introduction of the LEADER EDITION, Toyota aims to elevate the driving experience to new heights. Featuring a bold and sporty design, the Fortuner LEADER EDITION exudes confidence and sophistication. The dynamic front and rear bumper spoilers, coupled with striking dual-tone exteriors, make a powerful statement on the road. Inside, the dual-tone seats and enhanced interiors offer a luxurious haven for drivers and passengers alike. Under the hood, the Fortuner LEADER EDITION packs a pu...