Business News Northeast - Latest Business Northeast News & Updates

29 Oct

Citroën and Jeep® expand presence in India with new dealerships

Business BureauBusiness

Citroën and Jeep® have strengthened their foothold in India by inaugurating three new Stellantis multi-brand dealerships in Thrissur, Asansol, and Meerut. This significant expansion brings the total to 156 touchpoints for Citroën and over 150 for Jeep® across the country, responding to the growing demand for SUVs in these markets. The new dealerships, featuring comprehensive 3S facilities, showcase a diverse lineup, including the Grand Cherokee, Wrangler, and C5 Aircross SUV. Customers will benefit from a premier service experience, supported by skilled service teams and modern infrastructure. Asansol is set to experience a boost, with residents gaining access to a wide…

29 Oct

SpiceJet launches 32 new flights for winter schedule, shares grew up over 3%

Business CorrespondentBusiness, News

Shares of low-cost carrier SpiceJet Ltd rose over 3% on October 28 after it announced 32 new flights for the winter schedule starting October 27 to expand domestic and international connectivity."With 30 of these flights operating in the domestic sector and 2 connecting Delhi to Phuket with a daily non-stop service, SpiceJet aims to enhance connectivity and offer more choices to travellers.The winter schedule will include exciting new routes, including four new flights from Mumbai to Patna, Gorakhpur, Varanasi and Goa," SpiceJet said that in a stock exchange filing.The airline said that it will connect Patna to Ahmedabad, Guwahati, Kolkata…

28 Oct

Gold prices drop 0.48% a day ahead of Dhanteras, US dollar rally and macro data contributed to the fall

Business CorrespondentBusiness, News

According to MCX data, spot gold prices fell 0.48% to ₹77,622.00 per 10 gram around 10 am on Monday, October 28, 2024. This has happened after prices have been steadily rising for most parts of the year. Meanwhile, gold futures prices for December 05, 2024 on MCX fell 0.42% or ₹332 to ₹78,200. Meanwhile, gold futures prices for December 05, 2024 on MCX fell 0.42% or ₹332 to ₹78,200. Gold prices rose throughout the year due to several factors, including geopolitical tensions such as the Russia-Ukraine war and the Israel-Gaza conflict. According to the report, another reason was the decision…

28 Oct

slice and NESFB announce successful completion of the merger

Business BureauBusiness

slice, India’s leading consumer payments and lending company has successfully completed its merger with North East Small Finance Bank (NESFB), effective from 27th October 2024, following the receipt of all requisite shareholder and regulatory approvals. This merger unifies the operations, assets, and brand identities of both entities into a single, integrated banking institution. This merger marks a pivotal milestone in India’s financial landscape, combining the innovation of a leading fintech with the trusted foundation of a traditional banking institution. This strategic integration sets the foundation for building India’s foremost tech-driven bank, prioritizing stability, risk management, and a robust governance framework…

28 Oct

Bandhan Bank reports 24% growth in total business, expands retail focus

Business BureauBusiness

Bandhan Bank has announced a robust financial performance for the second quarter of the fiscal year 2024-25, reporting a total business growth of 24%, reaching ₹2.73 lakh crore. The bank's total deposits increased by 27% year-on-year, now standing at ₹1.43 lakh crore, with retail deposits comprising nearly 68% of the total. The current account and savings account (CASA) ratio is reported at 33.2%, reflecting strong customer engagement and trust. Ratan Kumar Kesh, Interim MD & CEO of Bandhan Bank, attributed the bank's success to effective risk management and compliance, stating, "Our strong performance in the second quarter reflects the momentum…

26 Oct

Mahindra’s Truck and Bus Division inaugurate a state-of-the-art dealership in Kolkata

Business BureauBusiness

Mahindra Truck and Bus Division (MTBD) continues its rapid expansion with the inauguration of its 86th dealership in Kolkata, West Bengal. The state-of-the-art facility includes 14 service bays, offering the capacity to service more than 28 vehicles per day, 24-hour breakdown assistance, AdBlue availability, and driver lodging. Vinod Sahay, President of MTBD, highlighted the division's 46% year-on-year growth and the strategic importance of the new dealership. "Our extensive range of trucks and buses, including the BLAZO X, FURIO, and CRUZIO models, coupled with the industry's first mileage guarantee, strengthens our position in the commercial vehicle market," Sahay stated. The "Get…

26 Oct

Ujjivan Small Finance Bank reports strong Q2 growth amid cautious approach

Business BureauBusiness

Ujjivan Small Finance Bank Ltd. (BSE: 542904; NSE: UJJIVANSFB) has announced a robust financial performance for the quarter ending September 30, 2024, showcasing a significant growth trajectory. The bank's gross loan book surged to ₹30,344 crore, reflecting a 14% increase year-on-year, while its secured loan portfolio rose to 34.9%, up from 31.3% in June 2024. The bank reported a healthy net interest margin (NIM) of 9.2%, with total deposits climbing 17% to ₹34,070 crore. CASA deposits also demonstrated strength, increasing by 26% year-on-year. Despite a slight dip in collections, with collection efficiency at 97%, the bank maintained stable asset quality…

26 Oct

L&T shares downgrade 2%; UBS downgrades rating to ‘neutral’ citing near-term headwinds

Business CorrespondentBusiness, News

Shares of Larsen & Toubro (also known as L&T) had a weak opening on October 25. It fell 2 per cent to Rs 3,378 after UBS downgraded the stock to 'neutral' and cut its target price in view of several challenges in the upcoming quarters.The brokerage has highlighted an upside potential of 16 per cent from the last closing price of Rs 3,443 with a target price of Rs 4,000. The previous target price given by the brokerage was Rs 4,400. L&T shares have declined 11 per cent in the last month.The international broking firm suggests that although core earnings…

25 Oct

Toyota Kirloskar Motor introduces the Festive Edition of the Toyota Rumion

Business BureauBusiness

Making this festive season special for car buyers, Toyota Kirloskar Motor (TKM) has introduced the Festive Edition of the Toyota Rumion. This Limited-Edition, featuring exclusive Toyota Genuine Accessory (TGA) packages aimed at enhancing the Rumion's aesthetics and comfort is the perfect mobility choice to celebrate the season in elegance and style. This festive edition of the Rumion, available across all grades, comes with a dealer-fitted TGA package worth ₹20,608, ensuring that customers enjoy a premium experience. The Festival Limited Edition TGA package features Back Door Garnish, Mud Flaps, Rear Bumper Garnish, Deluxe Carpet Mat (RHD), Head Lamp Garnish, Number Plate…

25 Oct

9th Brahmaputra Valley Film Festival harnesses technology to showcase cinematic innovation

Business BureauBusiness

Brahmaputra Valley Film Festival (BVFF) has announced the highly anticipated 9th edition which is scheduled to take place from December 5th to December 8th, 2024, at Jyoti Chitraban Film Studio in Kahilipara, Guwahati. This year, the festival is set to captivate audiences with a vibrant selection of films, showcasing powerful stories from the Northeast region and beyond. With more than 220 film entries submitted this year, the festival will present a vibrant selection of films across both competitive and non-competitive sections, featuring categories such as feature films, documentaries, and short films. The non-competitive category will also highlight a diverse range…