Business News Northeast - Latest Business Northeast News & Updates

21 Feb

Bandhan Bank shares rose 5% after CLSA upgrades stock; see latest target price

Priyanka RoyBusiness, News

Bandhan Bank shares surged 5% in early trade on Friday after global brokerage firm CLSA upgraded the stock to ‘High-Concept Outperform’, estimating a massive upside potential of 61%.CLSA sets a price target of Rs 220 for the stock, supported largely by the lender’s outperformance compared to peers in the current MFI (Micro Finance Institution) cycle. The MFI sector has been grappling with persistent challenges and constraints over the last five-six months, resulting in a significant deterioration in asset quality.Going forward, CLSA believes that the Indian microfinance sector will recover from bad to less bad in a few quarters and from…

20 Feb

SMFG India Credit Sets Guinness World Record for Cattle Welfare Lesson

Business BureauBusiness

SMFG India Credit has achieved a Guinness World Record for the ‘Largest Cattle Welfare Lesson (Multiple Venues)’ with 517 participants across six locations during the 7th Pashu Vikas Day. This event, which took place simultaneously in 500 locations across 16 states, benefited around 190,000 people, including 150,000 cattle and 40,000 owners. Under the theme ‘Mera Pashu Mera Parivar,’ the initiative highlights the importance of livestock in rural livelihoods, where 65-70% of the population depends on agriculture. Over 6,000 employees contributed to the event, showcasing the company's commitment to rural welfare. CEO Shantanu Mitra praised the team's efforts, stating, “We remain…

20 Feb

TKM announces the commencement of bookings of the Land Cruiser 300

Business BureauBusiness

Toyota Kirloskar Motor has announced the commencement of bookings of the Land Cruiser 300, an icon of prestige, power, and rugged capability. Built upon a legacy of over 70 years, the Land Cruiser 300 is the ultimate expression of Toyota’s engineering excellence, designed to meet the expectations of luxury seekers and off-road enthusiasts. Renowned for its unmatched reliability, commanding presence, and superior performance, the Land Cruiser 300 is the flagship SUV of Toyota’s global lineup. The latest iteration combines a revolutionary new platform, advanced powertrain, cutting-edge safety features, and opulent interiors, ensuring a seamless blend of luxury, strength, and off-road…

20 Feb

ASCI signs a Memorandum of Understanding with FIFS, AIGF, and EGF

Business BureauBusiness

In a major initiative to curb the rise of illegal betting and gambling advertisements by offshore entities, the Advertising Standards Council of India (ASCI) has signed a Memorandum of Understanding (MoU) with the Federation of Indian Fantasy Sports (FIFS), the All India Gaming Federation (AIGF), and the E-Gaming Federation (EGF), effective January 2, 2025. This collaboration aims to safeguard consumers from misleading and illegal ads, establishing a special monitoring cell to flag and report such advertisements to relevant authorities. Since the MoU's launch, ASCI has flagged 413 ads of offshore betting to the Ministry of Information and Broadcasting and processed…

19 Feb

Swiggy shares upsurge 7% during intraday

Priyanka RoyBusiness, News

Shares of foodtech giant Swiggy jumped nearly 7% to Rs 370.90 during the intraday trading session on the BSE today (February 19).The surge in its share price coincided with a surge in the broader market. The Sensex is up 0.068% at 76,018.91, while the Nifty is volatile and is trading 0.020% lower at 22,940.65 at 11:11 am.With the surge in Swiggy's share price, its market capitalisation reached Rs 83,576 crore at the time of writing and over 1 crore volumes had been traded by then.The stock has closed in the green in three of the last five sessions. Swiggy had…

18 Feb

Toyota launches road safety & health drive for 1,250 drivers in Mizoram

Business BureauBusiness

Toyota Kirloskar Motor (TKM) launched a road safety and health check-up initiative for over 1,250 drivers in Mizoram during Road Safety Month (January 18 – February 17, 2025). The program aims to tackle the rise in road accidents across the state, with 124 incidents and 112 fatalities recorded in 2024. The initiative, inaugurated by Chief Guest Mr. Stephen Lalrinawma, Senior Superintendent of Police, Traffic, Aizawl, and attended by Zote Toyota officials, focuses on educating drivers about safe driving habits and providing health screenings. Key components include sessions on traffic rules, penalties, vehicle compliance, and overall driver well-being. Health check-ups cover…

18 Feb

Gold imports inflation over 40% to $2.68 billion in January

Priyanka RoyBusiness, News

Overall, imports rose 32 percent to USD 50 billion from April to January this fiscal, as against USD 37.85 billion in the same period last fiscal. The rise in imports also reflects strong investor confidence in the precious metal as a safe-haven asset. Additional factors include asset diversification in gold amid global uncertainties, rising demand from banks and reduction in customs duty. The price of the yellow metal has risen 11 percent this year, reaching Rs 88,200 for every 10 grams in the national capital. India's gold imports, impacting the country's current account deficit (CAD), rose 30 percent to USD…

17 Feb

HCLTech’s Tech Beeprogram supports India’s skill develop mentagenda

Business BureauBusiness

HCLTech has announced the opening of applications for its TechBee early career program, a strategic initiative aimed at supporting India’s skill development and employment policies. Targeting Class 12 graduates from 2023, 2024, and 2025, TechBee offers 12 months of specialized training followed by guaranteed full-time employment. Participants can also pursue higher education through collaborations with BITS Pilani, IIIT Kottayam, SASTRA University, and Amity University Online. TechBee is aligned with the government’s push for digital transformation and employment generation in high-demand fields like cloud computing, AI, and digital engineering. The program caters to students with mathematics or business mathematics backgrounds, preparing…

17 Feb

Tripura launches 1962 helpline for livestock care in partnership with IndusInd Bank, BFIL

Business BureauBusiness

IndusInd Bank Limited (IBL) and Bharat Financial Inclusion Limited (BFIL), a wholly owned subsidiary of IBL, have partnered with the Government of Tripura to launch a livestock care helpline under BFIL’s flagship Bharat Sanjeevani program.The helpline, accessible through toll-free number 1962, will serve farmers across Tripura’s eight districts and 875 villages, providing on-demand veterinary services, artificial insemination, and animal husbandry guidance. The initiative aims to improve livestock health and boost agricultural productivity. A central emergency response center will be established at Tripura’s Animal Resources Development Department (ARDD) in Agartala, supported by BFIL and IBL. GPS-enabled Mobile Veterinary Units (MVUs) will…

17 Feb

GlaxoSmithKline Pharma Q3FY25: Net profit jump 400% to Rs 228.58 crore

Priyanka RoyBusiness, News

GlaxoSmithKline (GSK) Pharmaceuticals on Friday announced a 402 per cent year-on-year (Y-o-Y) increase in consolidated net profit for the December quarter (Q3 FY25) to Rs 228.58 crore, up from Rs 45.49 crore in the same period last year. The company’s revenue from operations rose to Rs 946.36 crore, a 17.5 per cent Y-o-Y increase from Rs 804.98 crore in Q3 FY24. Sequentially, the company’s net profit fell 8.08 per cent, whereas revenue declined 5.4 per cent, from Rs 248.68 crore and Rs 1,000.05 crore, respectively, reported in Q2 FY25. The performance is attributed to the company's strong growth across key product portfolios. GSK…