Business

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…

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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…

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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…

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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…

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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…

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03 Dec

Madan Mohan Halder Challenge Shield spurs football talent and local economy

Business BureauBusiness

The Madan Mohan Halder Challenge Shield football tournament, organized by the Ahmodpur Players Association, returned for its latest edition, showcasing young talent and boosting the local economy. Marking the Association’s 50th year, the event includes eight teams from districts like Murshidabad, Durgapur, and Kolkata, competing in a three-day knockout format. An all-women’s charity match further highlights the tournament's commitment to inclusivity. The event's economic impact on Birbhum is significant. Vendors in Ahmedpur and Sainthia report increased footfall as visitors flock to markets for refreshments, merchandise, and memorabilia. The tournament drives revenue for small businesses, creating a festive buzz that resonates…

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03 Dec

Tata Salt dominates purity tests, strengthens its market position in Bihar

Business BureauBusiness

Tata Salt, India’s leading iodine-enriched salt brand, has been recognized as the purest salt in the country following laboratory tests of 100 salt brands. This achievement not only highlights Tata Salt’s commitment to purity but also positions it as the dominant player in the competitive Indian salt market, particularly in Bihar, where consumer awareness of product quality is on the rise. Since its inception in 1983, Tata Salt has built a strong reputation for purity, quality, and health benefits, solidifying its leadership position in the salt industry. "Tata Salt’s focus on purity and quality is integral to our mission of…

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03 Dec

Tata Motors total sales gain marginally to 74,753 units in November

Business CorrespondentBusiness, News

Tata Motors Limited on Sunday said total sales in November rose marginally to 74,753 units as against 74,172 units in the same month last year. Tata Motors said in a statement that total domestic sales last month rose 1 per cent to 73,246 units as against 72,647 units in November 2023. The company said total passenger vehicle (PV) sales, including EVs, stood at 47,117 units as against 46,143 units in the same month a year ago, up 2 per cent. Similarly, domestic PV sales, including EVs, rose 2 per cent to 47,063 units as against 46,068 units in November 2023.…

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02 Dec

Mahindra launches BE 6e and XEV 9e Electric SUVs, ushers in a new era of innovation

Business BureauBusiness

Mahindra has unveiled its latest flagship electric SUVs, the BE 6e and XEV 9e, marking a transformative shift in India’s electric vehicle market. With prices starting at ₹18.90 lakh for the BE 6e and ₹21.90 lakh for the XEV 9e, these vehicles embody Mahindra's "Unlimit India" vision, setting new global benchmarks in performance, technology, and design. Built on the revolutionary INGLO platform and powered by the world’s fastest automotive intelligence system, MAIA, both SUVs offer impressive range and cutting-edge features, including a 3-in-1 powertrain, advanced ADAS, and ultra-fast charging capabilities. The BE 6e caters to performance enthusiasts with its sporty…

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02 Dec

Akasa Air elevates travel with industry-first offerings, sets new standards for comfort and service

Business BureauBusiness

Akasa Air, India’s fastest-growing airline, is revolutionizing the aviation experience with a suite of industry-first initiatives focused on passenger comfort, convenience, and inclusivity. The airline’s unique offerings include gourmet in-flight dining, a pet-friendly policy, and innovative features like SkyBeats and QuietFlights, setting new benchmarks for customer satisfaction. Akasa Air’s commitment to excellence is embodied in its vibrant in-flight environment, featuring Boeing Sky Interiors and spacious seating. The airline has also introduced Café Akasa, offering a refreshed menu with over 45 gourmet meal options, reflecting India’s diverse culinary landscape. Akasa's customer-first approach extends to its "Pets on Akasa" service, which has…

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