Business News Northeast - Latest Business Northeast News & Updates

05 Nov

Oil prices rose nearly 3% after OPEC+ delays production hike, focus on US election

Business CorrespondentBusiness, News

Nov 4 (Reuters) - Oil prices rose nearly 3% on Monday after OPEC+ decided to delay plans to raise output by a month, while investors also focused on the U.S. presidential election.Brent futures rose $1.98, or 2.7%, to $75.08 a barrel. U.S. West Texas Intermediate (WTI) crude rose $1.98, or 2.85%, to $71.47. Brent fell nearly 4% last week, while WTI fell nearly 3%.On Sunday, OPEC+ said it would extend its production cut of 2.2 million barrels per day (bpd) for another month in December, having already delayed an increase from October because of falling prices and weak demand.OPEC+, the…

04 Nov

Ashok Leyland shares plunge over 3% as sales drop in October

Business CorrespondentBusiness, News

Ashok Leyland shares fell over 3 per cent on November 4 after it reported a marginal decline in October sales.As of 11:10 am, the stock was trading 2 per cent lower at Rs 204. Though it has gained 10 per cent so far this year, in line with the performance of the Nifty 50, Ashok Leyland has posted monthly losses from August to October.The company reported total vehicle sales of 15,310 units in October 2024, a decline of 9 per cent as compared to 16,864 units in October 2023. Domestic sales declined 11 per cent to 14,067 units as compared…

04 Nov

Mahindra set to launch XEV 9e and BE 6e SUVs at Unlimit India Event in Chennai

Business BureauBusiness

Mahindra & Mahindra is set to introduce two electric SUVs—the XEV 9e and BE 6e—at the Unlimit India World Premiere on November 26, 2024, in Chennai. These flagship models mark the debut of Mahindra’s new electric brands, XEV and BE, built on the innovative INGLO architecture, which is crafted with an Indian heart and a global vision. Designed to deliver both performance and sustainability, the XEV 9e promises luxury in an electric form, while the BE 6e offers a bold, athletic edge. With class-leading safety, impressive range, and immersive technologies, INGLO architecture brings a multi-sensory experience to Indian EV drivers.…

04 Nov

Partha Pratim Sengupta appointed as MD & CEO of Bandhan Bank, promises inclusive growth

Business BureauBusiness

Bandhan Bank has appointed Partha Pratim Sengupta as its new Managing Director and CEO, effective November 1, 2024. With nearly 40 years of experience in the banking industry, Mr. Sengupta brings a wealth of expertise, having previously transformed Indian Overseas Bank as MD & CEO from 2020 to 2022. His strategic roles at State Bank of India, along with non-executive directorships in notable financial institutions, underscore his deep-rooted industry knowledge. The appointment marks a leadership transition at Bandhan Bank as interim MD & CEO Ratan Kumar Kesh resumes his role as Executive Director and Chief Operating Officer. Dr. Anup Kumar…

02 Nov

TVS Motor total sales upgrade 13% in October 2024

Business CorrespondentBusiness, News

The two-wheeler manufacturer's total sales grew 13% to 489,015 units in October 2024, as against 434,714 units sold in October 2023.Total two-wheeler sales registered a growth of 14%, growing from 420,610 units in October 2023 to 478,159 units in October 2024.Domestic two-wheeler sales stood at 390,489 units in October 2024, up 13% from 344,957 units sold in October 2023.Motorcycle sales stood at 230,822 units in October 2024, registering a growth of 14% as compared to 201,965 units in October 2023. Scooters registered a growth of 17%, with sales increasing from 165,135 units in October 2023 to 193,439 units in October…

02 Nov

The growth rate of gross GST collection has increased

editorBusiness

Goods and Services Tax (GST) collections increased 8.9 percent year on year to Rs 1.87 lakh crore in October (for September sales), the second highest level of monthly collections seen since the indirect tax regime's July 2017 rollout, owing primarily to an increase in domestic revenue rather than imports, according to data released by the Finance Ministry on Friday. GST receipts grew 7.9% net to Rs 1.68 lakh crore, according to the report. The increase in gross GST collections occurred after growth had slowed to a three-year low in September, despite a high rate of 42.8% for domestic refunds. While…

31 Oct

QNET India offers luxury Diwali hampers with unique, thoughtful gifts

Business BureauBusiness

As Diwali nears, QNET India has introduced exclusive luxury hampers designed to elevate gifting with a blend of elegance and purpose. The two main offerings, available at special prices from October 24 to November 22, include the Sparkle Divine Set—featuring Kinnari Mira and Daisy jewelry pieces—and the Festive Dinner Collection, comprising the ORITSU Aristo Dinner Set and Zinnia Tea Set. These carefully curated collections are crafted to infuse celebrations with sophistication and practicality, making them perfect gifts to enhance the festive atmosphere. The Sparkle Divine Set showcases exquisite craftsmanship, with the Kinnari Mira and Daisy sets adorned in 14 Karat…

31 Oct

Castrol India appoints Kedar Lele as New Managing Director, strengthens Kolkata’s focus

Business BureauBusiness

Castrol India Limited has announced the appointment of Kedar Lele as its new Managing Director, effective 1 November 2024. Lele, who brings two decades of experience from Hindustan Unilever Limited (HUL), succeeds Sandeep Sangwan, who will assume the role of Global Chief Marketing Officer at Castrol’s headquarters in London. Rakesh Makhija, Chairman of Castrol India, expressed confidence in Lele's leadership, citing his expertise in fostering growth and innovation in complex markets. “We are delighted to welcome Kedar. His extensive experience makes him an outstanding choice to lead Castrol India forward,” Makhija stated. Lele’s background in sales and customer development is…

30 Oct

Oil prices increase on reports of OPEC+ delaying plans to increase production

Business CorrespondentBusiness, News

Oil prices rose more than 2 percent on Wednesday after Reuters reported that OPEC+ may delay oil production increases scheduled to be implemented in December by a month or more due to concerns about low oil demand and rising supplies.Brent crude futures rose $1.41, or 2 percent, to $72.53 a barrel by 1236 GMT. US West Texas Intermediate crude futures rose $1.34, or 2 percent, to $68.55 a barrel.OPEC+, a group of the Organization of Petroleum Exporting Countries and allies such as Russia, is due to raise output by 180,000 barrels a day in December. The group has cut output…

29 Oct

Dolby teams up with BTS’s Jin to celebrate new single “I’ll Be There” in Dolby Atmos

Business BureauBusiness

Dolby Laboratories, a leader in immersive entertainment experiences, is teaming up with Jin of 21st century pop icons BTS in the latest chapter of the “Love More in Dolby” global brand campaign. Jin stars in the commercial to celebrate his new single “I’ll Be There,” which is now available globally in Dolby Atmos. Following the single “I’ll Be There,” Jin’s highly anticipated first solo album Happy is set to release in Dolby Atmos worldwide on November 15th. "When I first heard my new music in Dolby Atmos, I was truly amazed by the incredibly vivid and immersive experience. It felt…