Business

ICICI Prudential Life Insurance introduces ICICI Pru Platinum, the company's first unit-linked product (ULIP), aligns distributor payouts with customers' fund value, with distributor commissions linked to their assets under management. This unique product incentivises distributors to encourage their customers to stay invested for the entire policy tenure. Notably, it offers customers a cost and tax-efficient route to build wealth over the long-term. ICICI Pru Platinum provides unlimited free switches between asset classes, without any cost or tax implications. This product offers customers 21 funds, comprising 13 equity and four each in the debt and balanced categories, besides offering an option of four portfolio strategies. Mr. Amit Palta, Chief Distribution Officer, ICICI Prudential...

Amidst the hustle and bustle of India's stock market, a momentous event unfolded on May 23, 2024, as the National Stock Exchange (NSE) soared past the elusive USD 5 trillion market capitalization milestone. The air was electric with excitement as the Nifty 50 Index reached an unprecedented high of 22,993.60, igniting dreams and aspirations across the nation. The journey to this extraordinary achievement has been a testament to perseverance and determination. From humble beginnings at USD 2 trillion in July 2017, the market capitalization climbed to USD 3 trillion by May 2021, and then USD 4 trillion by December 2023, showcasing India's unwavering resolve in the face of adversity. At the heart of this soaring success lie the stories of everyday Indians, whose hopes and dreams are int...

In response to Israel's urgent need for skilled labor amid the ongoing war with Palestine's militant organization Hamas, Telangana workers have come forward to fill the gap. Following a 4-day recruitment camp in Hyderabad, 2,209 workers volunteered for construction jobs in Israel. Among them, 905 workers have been chosen to join Israel's foreign labor force. Organised by the Telangana state government in partnership with the National Skill Development Corporation International (NSDCI), the recruitment drive focuses to address Israel's pressing demand for skilled workers. The recruited workers, comprising ceramic tilers, plasterers, carpenters and iron benders, are drawn by the lucrative pay offered by Israel's construction industry, with each worker expected to earn between Rs 1.2 l...

Divi's Laboratories Q4 results: Divi's Laboratories on Saturday, May 25 announced January-March quarter results for the financial year 2023-24 (Q4FY24), reporting 67.6% rise in net profit to ₹538 crore. Whereas last year it was ₹321 Crore. Same period last year. The pharma major's revenue from operations grew 18% to ₹2,303 Crore in Q4FY24, compared to ₹1,951 Crore in the year-ago period. The company's board also declared a dividend of ₹2 (at 1,500 per cent) per equity share at face value of ₹30 for the financial year ending March 31, 2024.

ICICI Prudential Life revolutionizes claim settlement processes with unparalleled efficiency and transparency. The company's extraordinary performance in FY2024, boasting a remarkable 99.17% claim settlement ratio, has reshaped industry standards and cemented its reputation as a leader in customer-centric service.What sets ICICI Prudential Life apart is not just its impressive numbers but its commitment to expeditious and hassle-free claim settlements. With an average turnaround time of a mere 1.27 days for settling genuine death claims, the company has redefined the concept of prompt assistance during critical moments. Throughout the fiscal year, ICICI Prudential Life has maintained a consistent track record of excellence, with quarterly claim settlement ratios of 97.94% in Q1, 98.14%...

ITC Ltd on Thursday reported net profit of Rs 5,020.20 Crore for the March 2024 quarter, down 10% on year-on-year basis.The FMCG major had reported a net profit of Rs 5086.86 in the year-ago period. On a sequential basis, the bottom-line was marginally flat at Rs 5,572.07 in the December 2023, quarter.ITC's revenue from operations cut down 1.4% to Rs 17,571.72 Crore in the fourth quarter of financial year 2023-24. Its income in the same quarter of the previous financial year was Rs 17,506.08 Crore. Its income for the quarter ending December 31, 2023 stood at Rs 17,224 Crore.Ebitda for the quarter was down 0.8% at Rs 6,162.6 Crore, while Ebitda margin declined 70 basis points year-on-year to 37.2%. Its earnings were hit by inferior cigarette sales and turn down in FMCG margins.The company ...

Power Grid Corporation of India Limited (POWERGRID) on Wednesday announced its financial results for the fourth quarter (Q4) of the financial year 2024 (FY24) ending March 31, 2024.The state-owned company reported a nearly 4 per cent decline in its consolidated net profit to ₹4,166.33 Crore in the March quarter, mainly due to a marginal decline in income. Its consolidated net profit in the same quarter a year ago was ₹4,322.87 Crore.In a stock exchange filing, Power Grid said that its total income declined to ₹12,305.39 Crore in the fourth quarter, compared to ₹12,557.44 Crore in the same period a year ago.For the full fiscal year 2024, Power Grid’s consolidated net profit rose to ₹15,573.16 Crore from ₹15,419.74 Crore a year ago. POWERGRID said that its board of directors has recom...

Cherrapunji Eastern Craft Gin, a distinct spirit from Meghalaya, has clinched the top honour at the Global Spirits Masters competition, triumphing over 110 brands from 55 countries. This recognition was bestowed at the prestigious London Wine Fair on May 21, 2024, bringing the unique flavors of Northeast India into the limelight of the global spirits industry. Crafted from rainwater, Cherrapunji Eastern Craft Gin is a harmonious blend of 12 native botanicals, created through the collaboration of the company’s master distiller and a Dutch counterpart. This exquisite gin features Kaji Nemu from Assam, Khasi Mandarin from Meghalaya, smoked tea from Manipur, cardamom from Sikkim, and juniper from the eastern Himalayas, making it a true representation of the region’s rich terroir.Currently ...

CLEAN & CLEAR®, the leading name in teen skincare, is making waves with its latest digital film launch under the banner of the "Pimple Hi Toh Hai" campaign. This initiative aims to redefine the narrative surrounding teenage acne, urging adolescents to reclaim their confidence in the face of unexpected skin issues. The digital film, a pivotal component of the campaign, illuminates the disruptive nature of pimples in a teenager's life. By challenging societal norms and promoting self-assurance, CLEAN & CLEAR® endeavors to empower teens to navigate their skincare journey with resilience and confidence.At the heart of the campaign lies the unveiling of the new and enhanced CLEAN & CLEAR® Foaming Facewash®, clinically proven to combat pimples in just one week. With an increased ...

Oriflame, the pioneering Swedish wellbeing brand, has announced the appointment of Edyta Kurek as its first female head in India. This significant leadership change marks a new chapter for Oriflame as it focuses on empowering the next generation with wellbeing and financial freedom. At a recent seminar held at the Jio Centre in Mumbai, Oriflame celebrated its brand partners' achievements and launched a strategic initiative targeting India's vibrant youth. Over 1,200 brand partners attended, highlighting the success of Oriflame's innovative social selling model. This model promotes micro-entrepreneurship by providing necessary skills and training, tackling social issues like unemployment and income disparity. Edyta Kurek, Senior Vice President and Head of India and Indonesia, emphasized...