Business News Northeast - Latest Business Northeast News & Updates

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%…

28 Jan

Mahindra Truck and Bus strengthens Assam’s transport sector with Lakhimpur dealership

Business BureauBusiness

Mahindra’s Truck and Bus Division (MTBD) has inaugurated a new state-of-the-art dealership in Lakhimpur, Assam, following a remarkable 46% CAGR volume growth over the past three years. The facility features four service bays, capable of servicing over 10 vehicles daily, and offers driver lodging, 24-hour breakdown assistance, and AdBlue—an emissions-reducing solution for diesel engines. Dr. Venkat Srinivas, Business Head of MTBD, highlighted the division's No. 3 position in the Indian commercial vehicle market and the introduction of new dealerships and models, including BLAZO X and FURIO, which come with a Best-in-Class Mileage Guarantee. The re-launched Mileage Guarantee promises significant profitability…

28 Jan

ICICI Bank shares progress 2% on strong third quarter earnings

Business CorrespondentBusiness, News

New Delhi, Jan 27 (PTI) ICICI Bank shares rose over 2 per cent in early trade on Monday after the private sector bank reported a 15 per cent rise in standalone net profit to Rs 11,792 crore for the quarter ended December, driven by a rise in core income. The company's shares rose 2.09 per cent to Rs 1,234.50 on the National Stock Exchange (NSE). On the BSE, it rose 2.03 per cent to Rs 1,234 per share. Markets were trading in the negative zone. In early trade, the 30-share BSE Sensex fell 694.95 points, or 0.91 per cent, to…

27 Jan

LG announces premium flagship soundbars in India with wireless dolby atmos

Business BureauBusiness

LG Electronics India Limited has launched its latest flagship soundbars, the LG S95TR and S90TY, promising a premium audio experience with latest technology. These models, featuring Wireless Dolby Atmos® and true wireless rear surround speakers, aim to elevate home entertainment with enhanced sound quality and seamless integration with LG TVs. The LG S95TR boasts a 9.1.5 channel setup with 17 speakers and a robust 810W output, delivering a dynamic three-dimensional soundscape. Its advanced features, such as 3D Spatial Sound Technology and AI Room Calibration, ensure an immersive audio experience tailored to the room’s acoustics. Meanwhile, the LG S90TY offers a…