Business News Northeast - Latest Business Northeast News & Updates

05 Feb

Bandhan Bank’s total business grows by 17% to close at Rs. 2.73 lakh crore

Business BureauBusiness

Bandhan Bank has announced its financial results for the third quarter of the financial year 2024-25. The bank’s total business grew by 17% to close at Rs. 2.73 lakh crore. The Bank's share of retail to total deposits now stands at nearly 69%. The encouraging growth witnessed in the last quarter has been driven by it sexpansion in distribution, business efficiency and the favourable operating environment. The Bank now serves its customers through nearly 6,300 banking outlets in India. The total number of employees working at Bandhan Bank is now nearly 78,400. During Q3 FY25, the Bank’s deposit book grew…

04 Feb

Greaves Electric Mobility sees sales inflation in January

Business CorrespondentBusiness, News

Greaves Electric Mobility Ltd (GEML), the e-mobility arm of Greaves Cotton Ltd, reported robust sales in January. Under the company's flagship Ampere brand, it sold 3,611 units in January, making it the 5th best-selling electric two-wheeler brands in India, according to the vehicle portal. The manufacturer reported a 53% year-on-year growth and a 27% month-on-month growth, driven primarily by sales of its premium family electric scooters - Nexus and Magnus Neo. Overall, retail growth for Ampere (including slow-speed vehicles) stood at 38% month-on-month, which is higher than the industry growth average. The Magnus Neo, the updated variant of the recently…

03 Feb

UPL shares progress 5% after Investec upgrades rating to ‘buy’, raises price target to Rs 700

Business CorrespondentBusiness, News

UPL shares jumped over 5 per cent after global brokerage Investec upgraded its rating on the stock to 'buy' from an earlier 'sell' call, and hit a 52-week high of Rs 636.80 on February 3. Apart from the rating upgrade, Investec also raised its price target for the stock to Rs 700, significantly higher than the previous target of Rs 450. Investec's optimism towards UPL is driven by expectations that the company will successfully reduce its overall debt levels in FY25. UPL's net debt stood at Rs 27,531 crore as of September 2024. The brokerage is also confident that UPL…

01 Feb

Ola Electric Mobility shares upgrade 12%, back close to IPO price on new launches

Business CorrespondentBusiness, News

Shares of Ola Electric Mobility Ltd jumped as much as 12% on Friday, January 31, after the company launched new vehicles and announced more launches in the near future. With Friday's surge, the stock is back close to its IPO price of ₹76. As of Thursday's close, Ola Electric Mobility shares were down 57% from their post-listing peak of ₹157. The company today launched the Ola Electric Gen 3, with MD and CEO Bhavish Aggarwal saying the company has again become a leader in terms of EV two-wheeler market share. Aggarwal also said that while the competition got "a bit…

31 Jan

Tripura ranks second in India for energy-efficient lighting adoption

Business BureauBusiness

Tripura has emerged as the second-leading state in India for adopting energy-efficient lighting, according to data from EESLMart.in, the online marketplace launched by Energy Efficiency Services Limited (EESL). The northeastern state follows Jharkhand, which secured the top position, while Maharashtra ranked third. The data highlights a shift in consumer behavior, with smaller cities like Agartala outperforming major metropolitan hubs in embracing sustainable energy solutions. The 5-star 6-watt LED bulbs available on EESLMart.in consume significantly less power while delivering brightness equivalent to 9-10 watt LEDs, making them a popular choice among households. EESL CEO Vishal Kapoor hailed the growing adoption of…

31 Jan

H&M profit rises despite revenue plunge

Business CorrespondentBusiness, News

The Swedish H&M group saw its group revenue decrease by 1% in the fourth quarter and the full year. Nevertheless, the company managed to increase its profit. After a challenging period, the fashion giant believes it is back on the right track. Slow but profitable year-end In the fourth quarter, H&M's net revenue fell slightly to 62.2 billion Swedish kronor (5.4 billion euros), despite a 4% increase in December. The late arrival of Black Friday meant that most of its revenue was recorded in December, unlike the previous year. Gross margin rose slightly to 54.6% from 53.7%, while gross profit…

30 Jan

Suzlon Energy shares upsurge 5% for second day; one analyst sees stock at ₹80

Business CorrespondentBusiness, News

Shares of wind energy solutions provider Suzlon Energy Ltd are hitting an upper circuit of 5% for the second consecutive day.With Thursday's surge, the stock has gained 10% in the last two trading sessions. The move has also taken the company's market capitalisation to over ₹75,590 crore.The two-day surge in Suzlon shares has pushed its Relative Strength Index (RSI) to 37 on the charts, which is close to 'oversold' levels. An RSI reading below 30 indicates that the stock is 'oversold'.Of the six analysts tracking Suzlon Energy, five now have a 'buy' rating on the stock and one has a…

30 Jan

Blenders Pride Fashion Tour 2025 redefines style and glamour

Business BureauBusiness

Blenders Pride Fashion Tour has unveiled its most iconic edition yet, creating ‘The One and Only’ world where fashion is just the beginning. The tour’s 2025 edition will unleash a cutting-edge avatar that transcends into the extraordinary, bringing stellar showcases across global fashion, music, and entertainment that inspire pure awe. Joining forces once again with Fashion Design Council of India (FDCI), the Fashion Tour will celebrate its glamourous and indulgent essence, with some of India’s most sought-after voices in fashion, together with India’s most desirable style icons, that will undoubtedly get the country talking. Take its alluring world to boom…

29 Jan

BHEL Q3 results | Net profit rose 124% on revenue growth

Business CorrespondentBusiness, News

State-owned Bharat Heavy Electricals Ltd (BHEL) on Tuesday (January 28) reported a 123.5% jump in net profit to ₹134.7 crore for the third quarter ended December 31, 2024, mainly on account of higher revenue. In the year-ago quarter, BHEL had reported a net profit of ₹60.3 crore. The company's revenue from operations grew 32.2% to ₹7,277.1 crore as against ₹5,503.8 crore in the same quarter last year. At the operating level, EBITDA grew 40.6% to ₹304.3 crore in the third quarter as against ₹216.5 crore in the same quarter in FY24. EBITDA margin stood at 4.2% in the reporting quarter…

28 Jan

Ujjivan Small Finance Bank posts strong Q3FY25 performance; loan book and deposits show robust growth

Business BureauBusiness

Bengaluru, January 23, 2025: Ujjivan Small Finance Bank Ltd. [BSE: 542904; NSE: UJJIVANSFB] reported a solid financial performance for Q3FY25, marked by diversification in its asset mix and a significant rise in secured loans. The gross loan book grew 10% year-on-year (YoY) to ₹30,466 crore, with secured loans contributing 39% of the portfolio, up from 35% in September 2024. The bank’s deposits surged 16.3% YoY to ₹34,494 crore, driven by a 15% growth in CASA, which now accounts for 25.1% of total deposits. Collection efficiency improved to 96%, with bucket X efficiency for group and individual loans rising to 99.3%…