Business News Northeast - Latest Business Northeast News & Updates

28 Jan

Ujjivan Small Finance Bank posts strong Q3FY25 performance; loan book and deposits show robust growth

Business BureauBusiness

Bengaluru, January 23, 2025: Ujjivan Small Finance Bank Ltd. [BSE: 542904; NSE: UJJIVANSFB] reported a solid financial performance for Q3FY25, marked by diversification in its asset mix and a significant rise in secured loans. The gross loan book grew 10% year-on-year (YoY) to ₹30,466 crore, with secured loans contributing 39% of the portfolio, up from 35% in September 2024. The bank’s deposits surged 16.3% YoY to ₹34,494 crore, driven by a 15% growth in CASA, which now accounts for 25.1% of total deposits. Collection efficiency improved to 96%, with bucket X efficiency for group and individual loans rising to 99.3%…

28 Jan

Mahindra Truck and Bus strengthens Assam’s transport sector with Lakhimpur dealership

Business BureauBusiness

Mahindra’s Truck and Bus Division (MTBD) has inaugurated a new state-of-the-art dealership in Lakhimpur, Assam, following a remarkable 46% CAGR volume growth over the past three years. The facility features four service bays, capable of servicing over 10 vehicles daily, and offers driver lodging, 24-hour breakdown assistance, and AdBlue—an emissions-reducing solution for diesel engines. Dr. Venkat Srinivas, Business Head of MTBD, highlighted the division's No. 3 position in the Indian commercial vehicle market and the introduction of new dealerships and models, including BLAZO X and FURIO, which come with a Best-in-Class Mileage Guarantee. The re-launched Mileage Guarantee promises significant profitability…

28 Jan

ICICI Bank shares progress 2% on strong third quarter earnings

Business CorrespondentBusiness, News

New Delhi, Jan 27 (PTI) ICICI Bank shares rose over 2 per cent in early trade on Monday after the private sector bank reported a 15 per cent rise in standalone net profit to Rs 11,792 crore for the quarter ended December, driven by a rise in core income. The company's shares rose 2.09 per cent to Rs 1,234.50 on the National Stock Exchange (NSE). On the BSE, it rose 2.03 per cent to Rs 1,234 per share. Markets were trading in the negative zone. In early trade, the 30-share BSE Sensex fell 694.95 points, or 0.91 per cent, to…

27 Jan

LG announces premium flagship soundbars in India with wireless dolby atmos

Business BureauBusiness

LG Electronics India Limited has launched its latest flagship soundbars, the LG S95TR and S90TY, promising a premium audio experience with latest technology. These models, featuring Wireless Dolby Atmos® and true wireless rear surround speakers, aim to elevate home entertainment with enhanced sound quality and seamless integration with LG TVs. The LG S95TR boasts a 9.1.5 channel setup with 17 speakers and a robust 810W output, delivering a dynamic three-dimensional soundscape. Its advanced features, such as 3D Spatial Sound Technology and AI Room Calibration, ensure an immersive audio experience tailored to the room’s acoustics. Meanwhile, the LG S90TY offers a…

27 Jan

Keeway India launches K300 SF Street Fighter with exclusive launch offer

Business BureauBusiness

Keeway India, under the aegis of Adishwar Auto Ride India (AARI), has launched the K300 SF Street Fighter, a special edition of its popular K300 motorcycle series. To celebrate the launch, the first 100 customers can purchase the K300 SF at a special price of ₹1.69 lakhs (ex-showroom). This limited-time offer aims to make this premium 300cc motorcycle more accessible to performance enthusiasts. Aizawl, with its growing demand for high-performance motorcycles, is expected to witness significant interest in the K300 SF, particularly given its competitive pricing and exclusive features. The combination of sporty design, powerful engine, and advanced features is…

27 Jan

Indian Oil Q3 Earnings Preview | Dramatic upsurge in profit expected after weak Q2

Business CorrespondentBusiness, News

Indian Oil Corporation (IOC) Ltd will announce its third quarter earnings for the financial year 2024-25 on January 27. Analysts expect a sharp jump in profits, mainly due to the weak performance in the previous quarter (Q2 FY25). What to expect Profit jump: IOC is expected to report a profit of ₹6,140 crore, a significant rise from just ₹180 crore in Q2 FY25. Revenue growth: Revenue is estimated to grow 11% to ₹1.92 lakh crore compared to ₹1.74 lakh crore in the previous quarter. EBITDA improvement: Earnings before interest, tax, depreciation and amortization (EBITDA) is estimated to increase from ₹3,772…

25 Jan

ICICI Bank Q3 results preview: Net profit may inflation 10%, asset quality likely to remain stable

Business CorrespondentBusiness, News

ICICI Bank is set to announce its financial results for the October-December quarter (Q3FY25) on Saturday, January 25. Analysts expect the bank to report a healthy rise in profit on the back of strong loan growth and stable asset quality. According to a CNBC-TV18 poll, ICICI Bank's profit after tax (PAT) is expected to rise 10.3% to reach ₹11,332.7 crore compared to ₹10,271.6 crore in the same period last year. Meanwhile, the bank's net interest income (NII) is estimated to reach ₹20,461.4 crore from ₹18,678.6 crore in Q3FY24. The bank's asset quality is likely to remain stable. Brokerage firm Motilal…

24 Jan

Centerfruit launches new campaign “Kaisi Jeebh Laplapayee” to highlight irresistible taste

Business BureauBusiness

Centerfruit, the iconic gum brand from Perfetti Van Melle, has launched an exciting new campaign to emphasize its core promise – an irresistible fruity flavor that keeps consumers coming back for more. The campaign, aptly titled "Kaisi Jeebh Laplapayee," introduces a new TVC directed by renowned director Prasoon Pandey, showcasing the delightful and playful experience that Centerfruit delivers with every bite. The campaign highlights Centerfruit’s signature taste through a humorous scenario involving a stranded city lady on a bullock cart racing against time to reach the airport. In a creative twist, the bullock cart driver uses his own craving for…

24 Jan

Indus Towers shares surge on rise in Q3 earnings, Citi expects 32% surge

Business CorrespondentBusiness, News

Shares of telecom company Indus Towers rose two percent in the morning session on January 24 after the company reported better-than-expected earnings for the quarter ended December (Q3) of the current financial year (FY25). Indus Towers reported a consolidated net profit of Rs 4,003 crore for the quarter, registering a growth of 159.9 percent from Rs 1,541 crore in the corresponding quarter of the previous fiscal, led by significant collection of dues from Vodafone Idea and strong tower additions. The company saw its revenue from operations grow by 4.8 per cent to Rs 7,547 crore from Rs 7,199 crore in…

23 Jan

Ujjivan Small Finance Bank Q3 results: Rise in provisions leads to 64% plunge in profit

Business CorrespondentBusiness, News

Ujjivan Small Finance Bank Ltd reported a 64% year-on-year drop in its profit during the three months ended December to Rs 109 crore due to a rise in provisions. Sequentially, the bank's profit declined 53%.The bank's provisions and contingencies rose to Rs 223 crore, up sharply from Rs 63 crore a year ago. A marginal rise in net interest income also capped the small finance bank's net interest income at Rs 887 crore, up 3% year-on-year. As a result, net interest margin fell to 8.6% in the October-December period from 9.2% a quarter ago and 8.8% a year ago. The…