Business News Northeast - Latest Business Northeast News & Updates

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…

25 Oct

Crude oil futures gain on spot demand – PTI

Business CorrespondentBusiness, News

New Delhi, Oct 24 (PTI) Crude oil prices on Thursday rose by Rs 68 to Rs 6,044 per barrel in futures trade as participants widened their bets following strong spot demand.On the Multi Commodity Exchange, crude oil for November delivery expansion by Rs 68, or 1.14 per cent, to Rs 6,044 per barrel in a business turnover of 13,571 lots.Analysts said crude oil prices rose in futures trade as participants increased their deals.Globally, West Texas Intermediate crude price in New York was trading at $71.79 per barrel, down 1.44 per cent, while Brent crude price was at $75.92 per barrel,…

24 Oct

NMDC shares inflation 5% after second hike in price of lump ore and fines in October

Business CorrespondentBusiness, News

Shares of public sector company NMDC or National Mineral Development Corporation witnessed a surge on October 23 after the company announced a hike in the price of its lump ore and fines, which was the second price hike by the company in October.NMDC has raised the price of lump ore by Rs 600 to Rs 6,350 per tonne, while that of fines by Rs 400 to Rs 5,410 per tonne, the company said in a regulatory filing on October 22.These latest hikes have pushed NMDC's lump ore and fines prices to their highest since May. Interestingly, NMDC's price adjustments come…

24 Oct

Tata Motors launches ‘Customer Care Mahotsav,’ brings personalized support to commercial vehicle users

Business BureauBusiness

Tata Motors, India's leading commercial vehicle manufacturer, has launched its ‘Customer Care Mahotsav 2024,’ a comprehensive customer engagement initiative running from October 23 to December 24, 2024. The program aims to enhance after-sales support, offering vehicle check-ups, driver training, and value-added services across 2,500 authorized service outlets nationwide. Under the Sampoorna Seva 2.0 initiative, customers will receive tailored offerings, including annual maintenance contracts (AMC), breakdown assistance, and access to genuine spare parts. Drivers will also benefit from extensive training on safe and fuel-efficient driving practices. Highlighting Tata Motors’ commitment to superior service, Executive Director Mr. Girish Wagh said, “This Mahotsav…

24 Oct

ITC Mangaldeep launches luxurious festive gift boxes ahead of Diwali

Business BureauBusiness

ITC Mangaldeep has officially launched a premium range of gift boxes, marking its entry into the luxury gifting segment just in time for the festive season. The new collection features the Mangal Morning Giftbox, Temple Treasures Giftbox, and an exclusive Diwali Giftbox, all designed to enhance family celebrations and honor the cherished tradition of gifting in Indian culture. Each gift box offers a unique aromatic experience: the Mangal Morning Giftbox captures the essence of tranquil dawn rituals, while the Temple Treasures Giftbox evokes the spirit of pilgrimage with sacred fragrances reminiscent of Kedarnath and Badrinath temples. The collection also includes…

24 Oct

National convention promotes cancer awareness through ‘Sanjeevani: United Against Cancer’ initiative

Business BureauBusiness

Federal Bank Hormis Memorial Foundation and News 18 Network held a national convention on cancer awareness under the second phase of ‘Sanjeevani: United Against Cancer’ programme, with Tata Trusts as knowledge partners. It brought together key stakeholders, industry leaders and top bureaucrats who engaged in discussions around raising awareness and early detection of cancer. In India, cancer is estimated at nearly 15 lakh cases annually, making it the country with the third-highest number of cases after the US and China. To tackle India’s growing cancer epidemic, Sanjeevani over the years has been working through partnerships to push the conversation around…

24 Oct

Tata Salt champions awareness on World Iodine Deficiency Day, focuses on community health

Business BureauBusiness

Tata Salt celebrated World Iodine Deficiency Day (WIDD) by emphasizing the critical need for awareness around iodine deficiency disorders (IDD), particularly affecting children in India. As the country’s first national iodized salt brand, Tata Salt has been a trusted household name since 1983, playing a vital role in educating families about the significance of iodine, an essential micronutrient vital for early childhood development. Despite challenges highlighted in the 2018-19 India Iodine Survey, which revealed that only 55% of the population understands the benefits of iodized salt, Tata Salt remains focused on raising awareness. Deepika Bhan, President of Packaged Foods -…