Wednesday, August 12

Business

Toyota Kirloskar Motor launches T CARE: A technological leap in customer service
Business

Toyota Kirloskar Motor launches T CARE: A technological leap in customer service

Toyota Kirloskar Motor (TKM) has introduced "T CARE," an innovative initiative designed to enhance customer ownership experiences across India. This comprehensive program bundles multiple services under one brand, reflecting Toyota’s commitment to superior quality and customer care. T CARE features a range of offerings, including T DELIVER for secure car delivery, T GLOSS for expert car detailing, and T ASSIST providing 24/7 roadside support for five years. Customers can also benefit from T SECURE’s extended warranties, T SMILE’s customizable maintenance packages, and T CHOICE’s diverse service parts options. Additional services include T INSPECT for used car inspections and T SPARSH, which supports rural areas with complete vehicle assistance. Mr. Sabari Manohar, Vice Presi...
Crisil says food costs decrease in August due to tomato, broiler chicken prices
Business, News

Crisil says food costs decrease in August due to tomato, broiler chicken prices

New Delhi: Rating agency CRISIL said in a report released on Friday that the price of home-cooked food or thali declined in August due to low prices of tomatoes and broiler chicken.Vegetarian food prices fell 8% year-on-year (YoY) and 4% month-on-month (MoM) to ₹31.20 in August, while non-vegetarian food prices fell 12% year-on-year and 3% YoY. A sharp decline was observed. , As per the report, MoM has reduced the cost to ₹59.30.In comparison, in August last year, the price of a vegetarian thali was ₹34 and that of a non-vegetarian thali was ₹67.50. By July 2024, the prices had already reduced to ₹32.60 for a vegetarian and ₹61.40 for a non-vegetarian thali.A typical vegetarian meal includes roti, vegetables (onion, tomato, potato), rice, dal, curd and salad. In the non-vegetarian version...
Raymond shares progress 8% in 2 days ahead of lifestyle business’ listing tomorrow
Business, News

Raymond shares progress 8% in 2 days ahead of lifestyle business’ listing tomorrow

Shares of Raymond surged 8% in two days, hitting a high of Rs 2,179 on the BSE on Wednesday, ahead of the listing of its lifestyle business, Raymond Lifestyle (RLL), on the stock exchanges on Thursday.Brokerages also see it as a transformational move for the company that is synonymous with legacy brands like Park Avenue, Raymond, ColorPlus and Parx.Domestic brokerage firms Motilal Oswal and Ventura are optimistic about the company's future prospects.“Currently RLL has 5% market share in the Rs 750 billion menswear market, as the wedding season contributes 35-40% to the revenue (Rs 25-35 billion in FY24). The company continues to focus on premium wedding collections and aims to grow its market share to 6-7% with a revenue CAGR target of 15%. The marriage format also delivers 300bp higher g...
Shares of ECOS India Mobility closed with a rose of 32% for the first time in the market
Business, News

Shares of ECOS India Mobility closed with a rose of 32% for the first time in the market

Shares of driver-driven mobility provider ECOS India Mobility & Hospitality ended with a 32 percent premium against the issue price of Rs 334 on September 4.The stock opened at Rs 391.30, up 17.15 percent from the issue price on BSE. During the day, it rose 36.52 percent to Rs 456. Shares of the company finally closed at Rs 441.05 with a gain of 32.05 percent.On NSE, the company's shares were listed at Rs 390 with a premium of 16.76 percent. The stock closed at Rs 441.05, showing a rise of 32.05 percent.The market valuation of the company stood at Rs 2,646.30 crore.In terms of trading volume, 22.82 lakh shares of the firm were traded on BSE and 327.63 lakh shares on NSE during the day.The initial share sale of Echos (India) Mobility and Hospitality was subscribed 64.18 times on the cl...
Private corporate sector sales gain 6.9%; Net profit rose 14.2% in April-June: RBI data
Business, News

Private corporate sector sales gain 6.9%; Net profit rose 14.2% in April-June: RBI data

Total sales inflation of listed private non-financial companies stood at 6.9 percent  in the April-June quarter of the current financial year (FY25), compared with 2.1 percent growth in the year-ago period. The data from the Reserve Bank of India (RBI) issued.Sales inflation in the last quarter (January-March) of FY24 was 6.9 percent.Private corporate business sector performance data for Q1 FY25 shows that net profit of listed non-government non-financial companies grew 14.2 per cent, from 9 percent in the year-ago period, and 6.4 percent in Q4 FY24 . , The analysis is based on quarterly financial results of 2,934 listed non-government non-financial companies.All major sectors, manufacturing (67.5 percent share in total sales), information technology (IT) (10.1 percent), non-IT servi...
Toyota and Union Bank’s strategic alliance redefines vehicle financing across India
Business

Toyota and Union Bank’s strategic alliance redefines vehicle financing across India

Toyota Kirloskar Motor (TKM) has teamed up with Union Bank of India to launch a groundbreaking financing initiative. This new partnership promises up to 90% financing on the on-road price of Toyota vehicles for private use, eliminating any foreclosure or part-payment charges. This exciting collaboration rolls out two innovative schemes: the Union Vehicle Scheme, offering flexible tenures up to 84 months with interest rates starting at 8.80% per annum, and the Union Parivahan Scheme for commercial vehicles, with terms extending up to 60 months. Union Bank’s extensive network ensures that these options are accessible to customers across the country. This partnership is expected to create a significant buzz, offering residents enhanced financing solutions for Toyota’s range of vehicles...
GDP growth rate hits five-quarter low of 6.7% due to slowdown in agriculture, services
Business, News

GDP growth rate hits five-quarter low of 6.7% due to slowdown in agriculture, services

India's real gross domestic product (GDP) growth is set to fall to a five-quarter low of 6.7 per cent in April-June 2024-25 due to slow growth in agriculture, government spending and services, according to data released by the National Statistical Office (NSO).The quarterly GDP growth rate for Q1, which fell below the 7 percent mark for the first time in a year, came in at 7.8 percent, much lower than the 7.1 percent estimate given by the Reserve Bank of India (RBI). The previous quarter saw an increase of 8.2 percent and the year-ago quarter saw an increase of 8.2 percent.However, the manufacturing and construction sectors showed strong signs of growth with growth rates of 7.0 percent and 10.5 percent respectively in April-June as against growth of 5 percent and 8.6 percent in the year-a...
ICICI Pru Life Insurance crosses Rs 3 Lakh Crore AUM milestone
Business

ICICI Pru Life Insurance crosses Rs 3 Lakh Crore AUM milestone

ICICI Prudential Life Insurance Co. Ltd. has achieved a significant milestone by surpassing Rs 3 lakh crore in Assets Under Management (AUM). As of July 31, 2024, the company's AUM stood at Rs 3.14 lakh crore. Anup Bagchi, MD & CEO of ICICI Prudential Life Insurance, expressed his delight at this achievement, attributing it to customer preference for their products and trust in their ability to help achieve long-term financial goals. The company's focus on simplifying products and processes has been a key driver of this growth.ICICI Prudential Life Insurance emphasizes its role as a trustee and custodian of customer savings, implementing a stringent investment philosophy and risk management framework. This approach has resulted in a zero-Non-Performing Assets record since its i...
Moody’s increase India’s growth forecast to 7.2% for 2024
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Moody’s increase India’s growth forecast to 7.2% for 2024

Moody's Ratings raised India's growth forecast for 2024 to 7.2 percent from an earlier estimate of 6.8 percent, projecting a pick-up in private consumption.The global rating agency said on August 29 that the Indian economy is also expected to grow at a faster rate of 6.6 percent in 2025, compared to the earlier estimate of 6.4 percent.“Global growth is stabilizing and inflation is close to the central bank's target in most markets. We expect global growth to slow in 2024 and 2025 from 3.0% in 2023 to 2.7% and 2.5%, respectively. Although growth trends vary across countries, Moody's expects no change in the global outlook. Said while predicting.The Indian economy grew by 7.8 percent in the first quarter of 2024. Data for the April-June quarter will be available on August 30.Growth is likel...
Himalaya Wellness Company recently announce the achievement of planting over one million trees across India
Business

Himalaya Wellness Company recently announce the achievement of planting over one million trees across India

Himalaya Wellness Company, one of India’s leading wellness brands, has recently announced the achievement of planting over one million trees across India. This significant accomplishment was celebrated in a special event where the one millionth tree was planted by dedicated Himalaya employees, marking a step in the company’s commitment to environmental sustainability. Forests are vital for the health of the planet, serving multiple essential functions such as sequestering carbon, regulating temperatures, managing freshwater, and preventing erosion. They host 80% of terrestrial biodiversity and support around 350 million people with food and resources. However, their degradation is severely threatening these essential ecological functions and the biodiversity they sustain.KG Umesh, Dire...