Business News Northeast - Latest Business Northeast News & Updates

09 Dec

Empowering youth through consent: Durex’s bold move at Hornbill Festival 2024

Business BureauBusiness

Durex's The Birds and Bees Talk (TBBT), an impactful life skills program by Reckitt, a global leader in health and hygiene, has proudly marked its third consecutive year as the official health partner of Northeast India's most iconic cultural celebration—the Hornbill Festival. As the festival celebrates its milestone 25th edition, TBBT is set to launch Asia's first Consent Café, a pioneering initiative designed to spark meaningful conversations around consent, equity, and healthy relationships. The Hornbill Festival, expected to welcome over 150,000 visitors from December 1 to 10 at Kisama Heritage Village, Kohima, offers a unique platform to blend traditional heritage…

07 Dec

SBI has projected GDP grow at 6.3%, lower than RBI’s 6.6% estimate for FY25

Business CorrespondentBusiness, News

The State Bank of India (SBI) has projected that India's gross domestic product (GDP) will grow at 6.3% during the current financial year (FY25), lower than the Reserve Bank of India's (RBI) forecast of 6.6%, which was revised upward from 7.2% earlier. "We believe GDP growth for FY25 will be lower than the RBI forecast and are pegging it at 6.3%," SBI said. On Friday, RBI governor Shaktikanta Das announced the central bank's revised estimate for GDP growth. This came after the country's economy grew at 5.4% in the July-September quarter of FY25, the lowest growth in seven quarters. This…

07 Dec

ICICI Prudential Life Insurance boosts advisor productivity with IPRU Edge app

Business BureauBusiness

IPRU Edge, a mobile app offered by ICICI Prudential Life Insurance exclusively for its advisors, has led to a 37% increase in their productivity in H1-FY2025, resulting in higher earnings for them. Importantly, 98.1% of agents using IPRU Edge were paid commissions on the same day. ICICI Prudential Life is the first life insurer to pay out commissions on the same day to select distributors. The company has a network of over 2 lakh advisors, and approximately 61% of the company’s top advisors are now actively using the app, which is helping them grow their business. In H1-FY2025, the company…

06 Dec

IGL shares gain over 3% on bonus issue plan

Business CorrespondentBusiness, News

IGL share price jumped nearly 4 per cent in mid-day trade on December 5 after the city gas distributor announced that the board will consider a proposal to issue bonus shares on December 10. "It is notified that the Board of Directors is scheduled to meet on December 10, 2024 to consider a proposal to issue bonus shares in the prescribed proportion to the equity shareholders of the company, subject to the approval of the shareholders," a statement issued by the company on December 4 said. The company has not announced the bonus ratio and is likely to announce it…

06 Dec

Dr. Reddy’s Laboratories Ltd. announce the launch of Toripalimab in India

Business BureauBusiness

Dr. Reddy’s Laboratories Ltd. announced the launch of Toripalimab in India. Toripalimab is a New Biological Entity (NBE). It is the only immuno-oncology drug approved by various regulatory authorities around the world such as the United States Food and Drug Administration (USFDA), European Medicines Agency (EMA), Medicines and Healthcare products Regulatory Agency (MHRA), and others for the treatment of adults with recurrent or metastatic nasopharyngeal carcinoma (RM-NPC). Only immuno-oncology drug approved by various regulatory authorities around the world such as the USFDA, DCGI, EMA, MHRA,NMPA and others for the treatment of adults with recurrent or metastatic nasopharyngeal carcinoma (RM-NPC). Combination…

05 Dec

Aviva India posts ₹63 crore profit in H1 FY25, announces plans for greater inclusion

Business BureauBusiness

Aviva India has reported a profit of ₹63 crore for the first half of FY25, a 25% increase from ₹50 crore in the same period last year. Assets Under Management (AUM) rose by 13% to ₹14,636 crore, reflecting robust investor confidence and effective fund management. The solvency ratio improved to 194% from 189% in H1 FY24, underscoring the company’s financial stability. Gross Written Premiums (GWP) stood steady at ₹548 crore, while operational efficiency advanced significantly, with the Opex-to-GWP ratio declining to 27% from 30%. Aviva’s product mix showed an increased focus on protection plans, aligning with evolving customer needs. CEO…

05 Dec

Funding by MFs to NBFCs jump nearly 47% to Rs 2.33 trillion in October 2024

Business CorrespondentBusiness, News

Funding raised by non-banking financial companies (NBFCs) from mutual funds (MFs) grew nearly 47 percent year-on-year (Y-o-Y) to Rs 2.33 trillion in October 2024. Sequentially, funding support by MFs to NBFCs increased by 0.3 percent compared to September, according to CARE Ratings. Mutual funds (MFs) credit exposure to NBFCs, which includes commercial paper (CP) and corporate debt, has remained above Rs two trillion for more than half a year now. Moreover, CP has remained above the one trillion mark for almost a year, currently at Rs 1.22 trillion. Banks' credit exposure to NBFCs stood at Rs 15.4 trillion in October…

04 Dec

Tata Power shares inflation 4%, brokerages retain ‘buy’ rating after Q2 results

Business CorrespondentBusiness, News

Shares of Tata Power surged over 4 percent following the release of its Q2FY25 results, with several brokerages reaffirming their 'buy' ratings.Elara Securities said 'buy' while raising its target price on the stock from Rs 463 to Rs 518 and upgrading its rating from 'accumulate'.Other brokerages including Motilal Oswal Financial Services, JM Financial and Nomura also retained their 'buy' ratings.Morgan Stanley also expressed optimism and maintained an 'highweight' rating on Tata Power and set a higher target price of Rs 577.In contrast, Nuvama expressed a cautious outlook citing high valuations and retained its 'reduce' rating on the stock. Similarly, Jefferies…

04 Dec

Toyota Kirloskar Motor continues partnership with Hornbill Music Festival for third consecutive year

Business BureauBusiness

Toyota Kirloskar Motor (TKM) has announced its continued association with the prestigious Hornbill Music Festival, one of India’s most iconic cultural celebrations, for the third consecutive year through the title sponsorship. Held at the Naga Heritage Village, Kisama, in Kohima District, Nagaland, the festival runs from December 2 to December 10, featuring exciting performances, including a special opening act by Japan’s renowned drum ensemble, Drum Tao. This unique collaboration brings together traditional and contemporary musical experiences, showcasing a deep cultural bond. TKM’s ongoing partnership with the Hornbill Music Festival reflects the company’s deeper connections with the people of Nagaland and…

04 Dec

Shriram Finance’s #TogetherWeSoar campaign: Empowering dreams with Rahul Dravid’s leadership

Business BureauBusiness

Shriram Finance Ltd. has launched an inspiring new campaign, #TogetherWeSoar, featuring cricket legend Rahul Dravid as the brand ambassador. The campaign emphasizes Shriram Finance's core belief that building strong relationships with customers enables them to achieve their dreams and rise above challenges. Dravid, known for his resilience and leadership on and off the cricket field, epitomizes the values of teamwork that Shriram Finance stands for. Alongside him, veteran actor Naseeruddin Shah lends his voice to the Hindi ad, further adding emotional depth to the campaign, which also features regional versions in Tamil, Telugu, Kannada, Malayalam, Marathi, and Bengali. The lyrics…