Business News Northeast - Latest Business Northeast News & Updates

27 Sep

Sugar companies’ stocks rise up to 8% on expectations of hike in MSP and rise in ethanol prices; Shree Renuka and Balrampur Sugar gain the most

Business CorrespondentBusiness, News

Sugar stocks jumped significantly in intraday trading on Friday, September 27, following remarks by Indian Food Minister Pralhad Joshi. On Thursday, Joshi indicated that the government was considering raising ethanol prices for the 2024-25 season, as well as reviewing the minimum selling price of sugar and sugar exports for the same period.The minister said a committee of secretaries is currently discussing the proposal to increase the minimum selling price of sugar."We are optimistic about sugar production for the 2024-25 season starting in October," Joshi told reporters on the sidelines of the India Sugar and Bio-Energy Conference organised by the Indian…

27 Sep

Godrej Agrovet launches a farming advisory helpline

Business BureauBusiness

Godrej Agrovet Limited (GAVL), one of India’s largest diversified food and agri-business conglomerate, has recently announced the launch of ‘Hello Godrej’, a multilingual farming advisory helpline to provide real-time expert solutions for crop protection over a phone call. To be accessible to farmers across the country in eight regional languages—Hindi, Marathi, Kannada, Telugu, Tamil, Bengali, Punjabi, and English, this new initiative is in sync with the company’s endeavor of improving farm productivity by handholding and being there with the farmers whenever they need on ground or over a call. Commenting on the initiative, Balram Singh Yadav, Managing Director, Godrej Agrovet…

27 Sep

For Flipkart Big Billion Days Nothing announces lowest ever prices with discounts of more than 50% on Nothing and CMF Product Lineup

Business BureauBusiness

London-based consumer tech brand, Nothing, the fastest-growing smartphone brand in the country with 567% growth in H1 2024, announced incredible discounts on the latest and most sought-after Nothing and CMF products, for upcoming Flipkart Big Billion Days. Nothing Phone (2a) and Nothing Phone (2a) Plus will be available at the lowest ever price of ₹18,999 (including a bank discount of ₹1,000) and ₹23,999 (including a bank discount of ₹2,000), respectively. The Phone (2a) features the Dimensity 7200 Pro processor and a 5,000 mAh battery with 45W Fast Charging. The Phone (2a) Plus, powered by the MediaTek Dimensity 7350 Pro 5G…

27 Sep

Bajaj Allianz Life and ICICI Lombard champion insurance awareness in Tripura

Business BureauBusiness

Bajaj Allianz Life Insurance and ICICI Lombard General Insurance have taken significant strides in enhancing insurance awareness and access in Tripura. The recent third meeting of the Tripura State Level Insurance Committee (SLIC) highlighted progress under the State Insurance Plan, aimed at reaching the uninsured population. As lead insurers for life and non-life segments, Bajaj Allianz and ICICI Lombard are committed to advancing financial literacy through targeted campaigns and community initiatives. Anil PM, Head of Legal and Compliance at Bajaj Allianz, emphasized the company's dedication to educating diverse groups, ensuring everyone understands the importance of financial security. ICICI Lombard’s Executive…

26 Sep

Edible oil prices expansion by 5-10 percent, may increase further

Business CorrespondentBusiness, News

Following the recent hike in import duty on crude oil and refined oil, consumers have started feeling the impact of inflation in key kitchen items like edible oil.According to the price monitoring cell of the consumer affairs department, the model or benchmark retail price of mustard, sunflower and palm oil, commonly used in Indian kitchens, rose to Rs 148 per litre, Rs 129 per litre and Rs 110 per litre on Tuesday from Rs 140, Rs 120 and Rs 100 per litre, respectively, on September 13. This is an increase of 5-10% since the duty hike was announced 12 days…

26 Sep

HCLFoundation leads coastal cleanup initiative across six states

Business BureauBusiness

HCLFoundation, the CSR arm of HCLTech, spearheaded a large-scale coastal cleanup initiative in honor of International Coastal Cleanup Day 2024. The campaign, spanning six states—Andhra Pradesh, Tamil Nadu, Odisha, Kerala, West Bengal, and Karnataka—engaged 2,426 volunteers who collectively removed 18,485 kg of waste from India's coastlines. Partnering with local communities, HCLTech employees, and environmental organizations such as the Tamil Nadu Forest Department and MS Swaminathan Research Foundation, the initiative aimed to address the growing threat of pollution to marine ecosystems. “Preserving our coastlines is a shared commitment,” said Dr. Nidhi Pundhir, Senior Vice President of Global CSR at HCLFoundation. “We…

26 Sep

Tata Tea Gold announces Kumartuli-inspired festive packs for Durga Pujo

Business BureauBusiness

Tata Tea Gold, the leading tea brand in West Bengal, is marking this year's Durga Pujo with an innovative celebration of Kumartuli craftsmanship. The company has unveiled limited edition festive packs themed "Kumartuli Art is the Heart of Bengal," capturing the essence of the festival through five symbolic elements representing each day of Pujo: Dhaki, Shankho Dhwani, Ashtami Pujarin, Dhunuchi dance, and Sindoor Khela. Each pack showcases intricately sculpted figurines that come to life through a QR code-enabled augmented reality experience. In Asansol, the response has been overwhelmingly positive. Local retailers are witnessing heightened consumer interest as families flock to…

25 Sep

Ola Electric shares gain 3%, Bernstein highlights strong growth prospects

Business CorrespondentBusiness, News

Shares of Ola Electric Mobility rallied over 3 per cent to Rs 107.5 in morning trade on September 25 after international brokerage firm Bernstein suggested that the company is extending its lead in the electric two-wheeler (EV 2W) segment and outpacing rivals in profitability.The report shows that Ola Electric not only boasts the highest gross margins among its competitors but is also inching closer to EBITDA level profitability, underlining the strong growth momentum of the company.Ola Electric has significantly improved its path to profitability, reporting an EBITDA margin of -2 per cent, outperforming rivals such as TVS (-7.9 per cent),…

24 Sep

Home loan disbursements decay 9% in June quarter: Report

Business CorrespondentBusiness, News

Home loan originations declined 9 per cent in the June quarter, according to a report released on Monday.Credit information company TransUnion CIBIL said in a report that home loan volumes in value terms were at par with the same period a year ago.The report said outstanding amounts on home loans grew by only 14 per cent during the quarter, making it the slowest growth among all categories that constitute retail loans.Interestingly, the decline in principal volumes and sluggish growth in outstanding balances have come at a time when the incidence of loan defaults has declined during the quarter, the report…

23 Sep

Aizawl hosts e-waste management summit 2024 to tackle growing challenges

Business BureauBusiness

Hulladek Recycling Pvt Ltd, in collaboration with the Mizoram Pollution Control Board (MPCB), successfully hosted the E-Waste Management Summit 2024. The event, held in Aizawl, aimed to address pressing issues and strategies concerning e-waste management in North Eastern India. The summit welcomed prominent figures such as Pu Joseph H. Lalramsanga, Commissioner of AMC, and Pu Liankima Lailung, Chairman of MPCB, highlighting the significance of collaborative efforts in combating e-waste challenges. “This summit marks a significant step towards effective e-waste management in the North Eastern states,” said Pu Lailung. Mizoram PCB Chairman said "Hulladek Recycling is the first company to put…