Business

Petroleum-based lubricants used in internal combustion engines (ICEs) are being threatened by the growing trend of electric vehicles (EVs), which run on batteries instead of engines. Gulf Oil Lubricants India Limited, part of the Hinduja Group-owned Gulf Oil International, is a leading player in the domestic lubricants market and is valued at around Rs 4,500 crore on the stock exchanges. In conversation with Aggam Walia, Ravi Chawla, Managing Director and CEO, Gulf Oil India, talks about tackling the EV threat, Gulf's acquisitions in the EV sector and the role of lubricants in improving fuel economy.The lubricants market, at least in India and Asia, is set to grow well. When we say good growth 7% to 8% growth in automobiles, generally there will be half of that growth in lubricants as a p...

The percentage of promoters' pledged stake declined from 1.17% in the October-December 2023 quarter to 1.1% in the March 2024 quarter, a report by Kotak Institutional Securities said. In the last quarter of FY24, promoters of 73 companies in the BSE-500 index have pledged part of their stake and the value of pledged promoter holdings was Rs 1.96 lakh Crore or about 0.56% of the market capitalization of the total BSE-500 index. The report said that “Our analysis of pledged holdings of BSE-500 shares shows that the value of promoter (majority shareholder) pledged stake as a percentage of promoters holding declined marginally to 1.10% from 1.17% in the March 2024 quarter”.Promoters pledge shares as security to secure loans to meet any financial support necessity. This is a common pra...

Safed Detergent announces a poignant tribute this Mother’s Day with its latest campaign. Under the banner "Na koi daag, Na koi bhed, ek maa hi to hai, jiska dil hai sabse safed” (No stains, no differences, only a mother whose heart is the purest), the campaign celebrates the unwavering purity of maternal love. In a world often marred by biases and divisions, Safed Detergent's campaign emphasizes the universality of a mother's love, transcending all boundaries. Ritum Jain, Director at Safed Detergent, underscores the significance, stating, "We celebrate the unmatched purity of a mother's heart and honor all mothers." https://youtu.be/eeWIvyYmVts The campaign's emotional resonance lies in its depiction of boundless love and unconditional acceptance, sparking conversations globall...

India's industrial output growth slowed marginally to 4.9% in March 2024 mainly due to poor performance by the mining sector, according to official data released on Friday.Factory output growth, measured in terms of the Index of Industrial Production (IIP), stood at 5.6% in February 2024. However, in March 2023 it was 1.9%.For fiscal year 2023-24, IIP growth reached 5.8 percent as against 5.2% in the previous fiscal year. India's index of industrial production grew by 4.9% in March 2024, according to a statement by the Ministry of Statistics and Program Implementation.According to the latest data, mining output growth slowed to 1.2% in March, compared to 6.8% growth in the same month a year ago. The growth rate of the manufacturing sector increased to 5.2% in March compared to 1.5% a year...

Mamaearth, known for its natural personal care products, has launched a new digital campaign focusing mainly on its Mamaearth Rice Facewash. The campaign focuses on celebrating the beauty of glass-like skin and highlights the product’s connection to the traditional Korean beauty practice of using rice water for skincare. The campaign clip unfolds in an office setting after hours, where a young Korean intern admires a colleague’s radiant skin. Being fascinated by her glowing skin, she asks about the secret, leading to the revelation of Mamaearth Rice Facewash as a simplified alternative to traditional rice water skincare routines. The film reveals the secret of the intern’s transformation to glowing skin, symbolising the effectiveness of the facewash. Through this narrative, the c...

On Friday State-owned Bank of Baroda reported: a marginal 2.3% grow in net profit to Rs 4,886 Crore for the Q4 ending March 2024.A year before, the bank had earned a net profit of Rs 4,775 Crore in the January-March quarter. Total income during the quarter under review increased to Rs 33,775 Crore from Rs 29,323 Crore in the same period last year, BoB said in a regulatory filing.Interest income increase to Rs 29,583 Crore during the latest 3 month period from Rs 25,857 Crore in the same quarter a year ago.In terms of asset quality, the bank's gross non-performing assets (NPAs) declined from 3.79% at the end of March 2023 to 2.92% of gross advances as of March 31, 2024.Net NPAs also declined to 0.68% of advances from 0.89% at the end of 2023.As a result, the provision for bad loans and con...

Critically acclaimed Hindi film Kooki is all set to release nationally on 28th of June 2024, the film has touched a sensitive topic and narrating a journey of a rape victim. Directed by Pranab J Deka , the movie revolves around   the multiple stages and mental trauma  a victim goes through. The decision to produce a Hindi-language film underscores the industry's commitment to expanding its footprint beyond regional boundaries and gaining recognition on a national scale. Dr. Junmoni Devi Khound, the producer of "Kooki," emphasized the importance of reaching a wider audience, stating, "Our goal is to showcase the depth and diversity of Assamese cinema to viewers across the country." With a predominantly Assamese crew comprising 98% of the team, "Kooki" exemplifies the i...

Vi has set a new benchmark in the industry by becoming the first in India to achieve SOC 2 Type II attestation, underscoring its unwavering commitment to customer trust and data security.The attainment of SOC 2 Type II certification reaffirms Vi's dedication to maintaining the highest standards of data security and safeguarding sensitive client information. This accolade positions Vi as the sole telecom operator and Internet Service Provider (ISP) in India to receive this advanced global recognition. The evaluation process, conducted by AICPA (Association of International Certified Professional Accountants) registered independent CPA and VISTA InfoSec, rigorously assessed Vi's adherence to the SOC 2 "Trust Service" criteria. These criteria encompass crucial parameters such as security,...

Toyota Kirloskar Motor (TKM) has once again raised the bar in the MPV segment with the introduction of the new Innova Crysta GX+ grade. Packed with 14 additional features, the GX+ grade embodies TKM's commitment to customer satisfaction, offering a perfect blend of functionality and style. The Innova Crysta GX+ is designed to cater to diverse customer preferences, featuring a rear camera, auto-fold mirrors, DVR, diamond-cut alloys, wooden panels, and premium fabric seats. Available in 7- and 8-seater options, this new grade comes in five vibrant colors, adding a touch of individuality to every journey.Mr. Sabari Manohar, Vice President of Sales-Service-Used Car Business at Toyota Kirloskar Motor, expressed, "The Innova brand has long been synonymous with quality and trust, setting indu...