Business News Northeast - Latest Business Northeast News & Updates

25 Nov

NESFB Reports Strong Growth Following Merger with slice

Business BureauBusiness

North East Small Finance Bank (NESFB) has announced significant improvements in its financial stability following the merger with slice on October 27, 2024. The integration of NESFB’s banking expertise with slice’s technological advancements has resulted in a robust Capital to Risk-weighted Assets Ratio (CRAR) of 23.5% and a surge in net worth to Rs 920 crores. The bank's Net Non-Performing Assets (NNPA) have improved to 4.6%, indicating enhanced asset quality and risk management practices. Managing Director & CEO of NESFB, Mr. Satish Kumar Kalra, expressed optimism about the merger, stating it has propelled NESFB into a new era of operational…

23 Nov

Toyota Kirloskar Motor celebrates 100,000 Innova HyCross sales milestone

Business BureauBusiness

Toyota Kirloskar Motor (TKM) has reached a significant milestone with the sale of 100,000 wholesale units of the Innova HyCross, coinciding with the vehicle's second anniversary. The Innova HyCross, celebrated for its advanced technology and exceptional comfort, has quickly gained popularity among Indian consumers since its launch in November 2022. Equipped with a 5th Generation Self-Charging Strong Hybrid Electric System, the vehicle showcases Toyota's commitment to sustainable mobility. It operates 60% of the time in electric mode, delivering a powerful yet efficient driving experience. The versatile model offers various engine options, including a robust gasoline engine and advanced hybrid technology.…

23 Nov

ManipalCigna launches ‘Sarvah’: A comprehensive health insurance for Bharat’s missing middle

Business BureauBusiness

ManipalCigna Health Insurance has launched ‘ManipalCignaSarvah,’ a health insurance plan designed to address the critical healthcare gaps in India, with a special focus on Bharat's "missing middle" population. The plan offers three tailored variants—Sarvah Pratham, SarvahUttam, and Sarvah Param—catering to diverse customer needs, from affordable essential coverage to comprehensive protection with infinite benefits. According to NITI Aayog’s report, over 35 crore Indians lack financial health protection, exposing them to catastrophic healthcare costs. ManipalCigna’sSarvah aims to fill this gap by providing unlimited coverage for critical illnesses, day-one benefits for pre-existing conditions, and innovative features like the Gullak bonus system, which guarantees…

23 Nov

LG Electronics India clinches ‘Great Place to Work’ certification for second consecutive year

Business BureauBusiness

LG Electronics India (LGEIL) has been recognized as a ‘Great Place to Work®’ for the second consecutive year, reinforcing its commitment to fostering a healthy and productive workplace culture. The global authority on workplace culture, Great Place to Work® evaluates organizations based on employee satisfaction, trust in leadership, and the overall work environment. LG Electronics India’s achievement highlights its consistent efforts to prioritize employee well-being and satisfaction. Mr. Hong Ju Jeon, Managing Director of LG Electronics India, expressed his pride in the recognition, stating, “This achievement underscores our commitment to creating a workplace where collaboration, innovation, and mutual respect thrive.…

22 Nov

Oil prices rise, headed for weekly gain on Russia-Ukraine tensions

Business CorrespondentBusiness, News

Oil prices rose in Asian trade on Friday as traders placed a higher risk premium on crude oil amid growing concerns over Russia and Ukraine, capping a positive week. Supply disruptions in Norway and a brief drop in the dollar also supported oil prices early in the week, along with reports that the Organization of Petroleum Exporting Countries and allies (OPEC+) were likely to postpone planned production increases. The increased risk premium helped oil weather a bigger-than-expected rise in U.S. stockpiles. Brent oil futures for January expiration rose 0.4% to $74.54 a barrel, while West Texas Intermediate crude futures rose…

21 Nov

Apple India’s net profit rose 23 percent to Rs 2,746 crore in FY24, revenue grew to Rs 67,152 crore.

Business CorrespondentBusiness, News

The company's total income grew 36 percent to Rs 67,121.6 crore in FY24.iPhone maker Apple India has reported a 23 per cent rise in net profit to Rs 2,745.7 crore in FY2023-24.This information has been given in the company's regulatory filing shared by Tofler.Apple India had reported a net profit of Rs 2,229.6 crore in FY23. The company reported a 36 per cent rise in total income in FY24, rising to Rs 67,121.6 crore from Rs 49,321.8 crore in FY23.Toffler said, "Apple India Private Limited, which provides and markets Apple brand products and software, including mobile devices and laptops, reported…

19 Nov

Shilpa Medicare shares jump 6 per cent on CEP approval from EDQM

Business CorrespondentBusiness, News

Shilpa Medicare shares rose over 6 per cent in early trade on November 19, after it announced that its subsidiary Shilpa Pharma Lifesciences has received two Certificates of Suitability (CEPs) from the European Directorate for Medicines and Healthcare Quality (EDQM).At 1.15 pm, Shilpa Medicare shares were trading over 3 per cent higher at Rs 892. The stock has rallied a massive 180 per cent on a year-to-date basis, outperforming the Nifty 50 by a huge margin, which gained 9 per cent during the same time period.The first CEP received on November 18 was for Octreotide The second CEP approval received…

19 Nov

Durex TBBT ignites conversations on life skills at Shillong Cherry Blossom Festival 2024

Business BureauBusiness

Durex The Birds and Bees Talk (TBBT), an impactful program by Reckitt, global leaders in consumer health and hygiene, has once again made a significant mark at the highly anticipated Shillong Cherry Blossom Festival 2024. The event was inaugurated by Shri. Conrad K. Sangma, Hon’ble Chief Minister of Meghalaya, alongside Shri. Sniawbhalang Dhar, Deputy Chief Minister, Government of Meghalaya, Shri. Paul Lyngdoh, Hon’ble Minister of Tourism, Government of Meghalaya, and Shri Jyotiraditya M. Scindia, Hon’ble Union Minister of Development of the North-Eastern Region, Government of India, among other dignitaries. In collaboration with the Department of Health, Durex The Birds and…

19 Nov

HCG collaborates with Trucan Diagnostics to revolutionize cancer care with advanced diagnostics

Business BureauBusiness

HealthCare Global Enterprises Limited (HCG), a leader in cancer care, has partnered with Trucan Diagnostics Pvt Ltd, an innovative startup specializing in cancer diagnostics, to pioneer next-generation diagnostic tests aimed at improving cancer detection and treatment personalization. The collaboration will focus on validating advanced biomarker-driven tests developed by Trucan, which utilize next-generation sequencing to detect primary, recurrent, and metastatic cancers. These tests are designed to predict therapy response before treatment and monitor patient progress during chemotherapy or targeted therapy. The data generated will support integration of these diagnostics into routine clinical practices, enhancing precision oncology capabilities. Dr. B.S. Ajaikumar, Executive…

18 Nov

Crompton Greaves shares gain 7% on the back of a stellar second quarter performance

Business CorrespondentBusiness, News

Shares of Crompton Greaves Consumer Electrical rose 7 per cent after the company reported a rise in its consolidated net profit and revenue for the quarter ended September. At 1.40 pm, Crompton Greaves shares were trading 4 per cent higher at Rs 385. The stock has gained 23 per cent on a year-to-date basis, outperforming the Nifty 50, which rose 8 per cent during the same time frame. The company reported a 27.8 per cent rise in consolidated net profit to Rs 124.9 crore, while revenue from operations rose 6.4 per cent to Rs 1,896 crore. Segment-wise, revenue from electric…