Business News Northeast - Latest Business Northeast News & Updates

09 Jan

Mahindra launches Premium BE 6 and XEV 9e EVs, prices start at Rs 26.9 lakh

Business BureauBusiness

Mahindra unveiled the top-end Pack Three variants of its Electric Origin SUVs, BE 6 and XEV 9e, at the Unlimit India Tech Day. The BE 6 is priced at ₹26.9 lakh, while the XEV 9e costs ₹30.5 lakh, with EMIs starting at ₹39,224 and ₹45,450, respectively, under the "Three for Me" finance program. This initiative ensures accessibility by offering the same EMIs as Pack One with a balloon payment after six years. The Pack Three variants feature a 79 kWh battery, delivering over 500 km of real-world range and rapid charging capability. Test drives will begin on January 14, 2025,…

09 Jan

Natural Gas Futures upgrade on High Demand and Limited Supply

Business CorrespondentBusiness, News

Natural gas futures rose on Wednesday due to strong demand caused by weather in the United States. This increased demand coincides with limited supply due to some production freeze-offs. Despite prices dipping in the previous session, cold forecasts for the third week of January are causing a bullish rebound, according to a note from Eli Rubin of EBW Analytics. Rubin pointed out that the market is underestimating the scale of the significant national storage draws expected to take place in January. He added that the freeze-off period could be longer than initially thought. Below-average storage draws for the prior week…

08 Jan

Delta Corp shares upsurge 6% as Supreme Court agrees to hear online gaming industry’s petitions against GST show cause notices on January 10

Business CorrespondentBusiness, News

Delta Corp shares jumped nearly 5% on January 8 as Supreme Court agreed to hear online gaming industry's petitions against GST show cause notices on January 10. At 12 pm, Delta Corp shares were trading 6% higher at Rs 116.43 per share. According to a CNBC-TV18 report, the industry is seeking a stay on the show cause notices with concerns of possible coercive action by tax authorities. The industry has expressed concern, saying the issue has been pending for several years, CNBC-TV18 said. Online gaming companies have been sent 71 show cause notices related to evasion of goods and services…

07 Jan

Seagram’s Royal Stag partners with Netflix’s Squid Game Season 2 for a groundbreaking collaboration

Business BureauBusiness

Seagram’s Royal Stag has joined forces with Netflix’s global hit, Squid Game, for an iconic collaboration that promises to bring the show's cultural phenomenon to the forefront. The partnership, which marks the second season of Squid Game, aligns with Royal Stag’s ‘Live It Large’ philosophy, offering fans an unparalleled experience to immerse themselves in the world of the record-breaking series. “We’re excited to tap into the immense popularity of K-culture, especially among the youth, with this collaboration,” said Joydeep Basuroy, General Manager – Marketing at Pernod Ricard India. “Royal Stag has always resonated with those who dream big, much like…

07 Jan

NTPC Green Energy shares rose on winning 1000 MW power project

Business CorrespondentBusiness, News

NTPC Green Energy share price rose over one per cent in early trade on January 6 after the company's subsidiary bagged a 1000 MW power project from Uttar Pradesh Power Corporation Limited (UPPCL). At 09:27 am, NTPC Green Energy was quoting at Rs 129.95, up Rs 1.60 or 1.25 percent on the BSE. The company's arm NTPC Renewable Energy (NTPC REL) bagged a 1000 MW capacity at an impressive rate of Rs 2.56/kWh, however, the Letter of Award (LoA) from UPPCL is awaited. The wholly-owned subsidiary has emerged as a successful bidder in the e-reverse auction conducted by UPPCL for…

06 Jan

Ujjivan Small Finance Bank reports strong growth in Q3 FY25

Business BureauBusiness

Ujjivan Small Finance Bank (USFB) has announced impressive financial results for the quarter ending December 31, 2024, marking significant year-on-year growth across key business metrics. Total deposits reached ₹34,496 crore, a 16% increase compared to ₹29,669 crore in the same period last year. The bank’s CASA (Current Account Savings Account) deposits grew by 15%, reaching ₹8,657 crore. On the asset side, the bank's gross loan book stood at ₹30,466 crore, up 10% from ₹27,743 crore in December 2023. The affordable housing segment saw the highest growth with a 45% surge, while MSME loans grew by 21%. Ujjivan also saw a…

06 Jan

India’s foreign exchange reserves continue to lapse, down 10% from peak

Business CorrespondentBusiness, News

India's foreign exchange reserves have declined in 12 of the last 13 weeks, hitting a multi-month lowIndia's foreign exchange reserves continue to decline, continuing a three-month long decline. In the week ended December 27, the country's foreign exchange reserves fell by $4.112 billion to $640.279 billion, data from the Reserve Bank of India (RBI) showed.India's foreign exchange reserves have declined in 12 of the last 13 weeks, hitting a multi-month low.The reserves have been declining ever since they touched an all-time high of $704.89 billion in September. Effectively, it is now down by about 10 per cent from the peak.The…

04 Jan

Bandhan Bank Q3 update: Deposits upsurge 20%, CASA deposits rise

Business CorrespondentBusiness, News

Private sector lender Bandhan Bank on Saturday, January 4, announced its business update for the October-December quarter. The lender's loans and advances grew 15% year-on-year to ₹133,285 crore as against ₹115,940 crore in the same period last year. Sequentially, it grew 2%. Total deposits grew 20% year-on-year to ₹140,999 crore as against ₹117,422 crore in the same period a year ago, the bank said in an exchange filing. CASA deposits grew 5.5% year-on-year to ₹44,735 crore, up from ₹42,413 crore last year, the private bank said in a BSE filing. The bank's current and savings account ratio stood at 31.7%,…

04 Jan

Godrej Agrovet’s launch of Pride Hog

Business BureauBusiness

Godrej Agrovet Limited has unveiled Godrej Pride Hog, an innovative range of pig feed scientifically formulated to provide optimal nutrition at every stage of a pig's lifecycle. This new product line includes three variants: Starter, Grower, and Finisher, each designed to promote better health, immunity, and growth for pigs. The launch event featured a roundtable discussion in Guwahati, focusing on preventive measures against African Swine Fever (ASF) and best practices for pig farm management. Notable industry experts, including Dr. Purnananda Konwar from the Assam Livestock and Poultry Corporation Ltd and Capt. (Dr.) A.Y. Rajendra, CEO of Godrej Agrovet's Animal Feed…

03 Jan

HDFC Mutual Fund expands financial footprint with 25 new branches nationwide

Business BureauBusiness

HDFC Mutual Fund has unveiled 25 new branches across India, reinforcing its commitment to financial inclusion. The newly inaugurated Business Centres are strategically located in cities such as Bharatpur, Bhusaval, Varachha, Bopal, Wakad, Chittorgarh, and Berhampore, among others. This expansion takes the total number of HDFC Mutual Fund branches to over 250, underscoring the company's mission to bring wealth creation opportunities closer to every Indian. The addition of branches in emerging hubs like Berhampore (Murshidabad) is particularly significant. Berhampore, known for its growing market potential, will benefit from enhanced access to financial services and investment solutions. This move is expected…