Business News Northeast - Latest Business Northeast News & Updates

28 Aug

LTIMindTree shares jump 8%; Kotak raises stock price target amid Nifty exclusion

Business CorrespondentBusiness, News

Kotak expects LTIMindTree to post revenue growth of 6.5 per cent in FY2025, which could improve from 4.4 per cent in FY2026 to 11 per cent in FY2024 due to improvement in the two largest verticals – BFSI and hi-tech .LTIMindtree, which is one of the stocks to be dropped from the Nifty 50 in the September restructure, saw its shares rise 8 per cent in Wednesday trade after Kotak Institutional Equities upgraded its rating to 'ADD' from 'Reduce' earlier. ' and upgraded its target price. Rs 6,200 from Rs 5,500 earlier, it said, adding that IT major would be…

27 Aug

Tata AIA expands insurance awareness drive in West Bengal

Business BureauBusiness

Tata AIA Life Insurance has taken significant strides to increase insurance awareness and penetration in West Bengal, aligning with the Insurance Regulator's vision of ‘Insurance for All by 2047’. As the leading insurer in the state, Tata AIA has implemented a comprehensive strategy that involves various initiatives to reach a wider audience and promote the benefits of life insurance.One of the company's key strategies has been to organize career opportunity presentations for aspiring life insurance advisors. These events have attracted a significant number of attendees, many of whom have decided to join Tata AIA's agency force. This not only strengthens…

27 Aug

Bank of Baroda raises Rs 5,000 crore through 10-year infra bonds at 7.3%

Business CorrespondentBusiness, News

State-owned Bank of Baroda on Monday inflation Rs 5,000 crore through 10-year infrastructure bonds at a coupon rate of 7.3 percent, according to sources aware of the development.The offering of the bonds, rated AAA by Crisil Ratings, had a base issue size of Rs 2,000 crore and a greenshoe option of Rs 3,000 crore and was fully subscribed.A dealer at a state-owned bank said yields on 10-year government securities have fallen, resulting in lower cut-off rates for BoB compared to State Bank of India (SBI), the country's largest lender. Generally, SBI is considered like a barometer for the Indian economy…

26 Aug

Gold price drop in India: Check 22 carat price in your city on August 25

Business CorrespondentBusiness, News

Gold price in India today: On August 25, gold prices in India were around Rs 73,000 per 10 grams. The rate of 24 carat gold of highest purity was Rs 73,040 per 10 grams. For those considering jewellery, 22-carat gold, known for extra durability due to its light alloy mix, was priced at Rs 66,950 per 10 gram.In contrast, the price of silver was Rs 88,000 per kg. retail cost of gold in india The retail price of gold in India, which represents the final cost per unit weight to consumers, is shaped by many factors beyond its intrinsic value.

24 Aug

Rupee upsurge 5 paise to 83.88 against US dollar in early trade

Business CorrespondentBusiness, News

The rupee traded in a tight range and rose 5 paise to 83.88 against the US dollar in morning trade on Friday, supported by softening crude oil prices and fresh foreign fund inflows.Forex traders said the significant improvement in oil prices, which are around US$77 per barrel, is a big positive sign for the rupee, given India's substantial oil imports.At the interbank forex market, the local unit opened at 83.93 and then gained ground to touch 83.88, registering a rise of 5 paise from its previous close.Amit Pabari, MD, CR Forex Advisors said that “Despite the dollar index hitting recent…

24 Aug

Toyota Kirloskar Motor pioneers gender equality for the future of mobility

Business BureauBusiness

As Women’s Equality Day approaches on August 26, Toyota Kirloskar Motor (TKM) has reinforced its commitment to gender equality and empowerment, aligning with the United Nations Sustainable Development Goals (SDGs) 5 (Gender Equality) and 8 (Decent Work and Economic Growth). TKM aims to increase female representation in its workforce to 30% by 2030 through robust Diversity, Equity, and Inclusion (DEI) initiatives. Recent milestones include the induction of 160 new female employees and the successful capping of 55 women supervisors, bringing the total number of women in TKM to over 450, with plans to exceed 850 by year-end. TKM’s Gender Diversity…

23 Aug

Flipkart Samarth celebrates its 5-year journey milestone

Business BureauBusiness

Flipkart’s Samarth program celebrated a remarkable 5-year journey, shining a spotlight on its commitment to uplifting India’s artisans, weavers, SHGs, and rural entrepreneurs. The vibrant event, attended by over 250 passionate individuals including Shri Jayant Chaudhary, Minister of State for Skill Development and Entrepreneurship, was a testament to Flipkart's dedication to preserving India’s rich cultural tapestry while driving economic growth. The celebration was marked by a significant milestone: the signing of a Memorandum of Understanding (MoU) between Flipkart’s Supply Chain Operations Academy (SCOA) and the Ministry of Skill Development and Entrepreneurship (MSDE). This collaboration, part of the Pradhan Mantri Kaushal…

23 Aug

Tata AIA announces Sampoorna Raksha promise: A comprehensive term insurance plan

Business BureauBusiness

Tata AIA Life Insurance has introduced an innovative term insurance plan, Sampoorna Raksha Promise, designed to offer enhanced protection and benefits tailored to modern needs. This new offering is set to redefine financial security with its array of features. Key highlights of the Sampoorna Raksha Promise include an instant payout of INR 3 lakhs upon claim notification to cover urgent expenses. Additionally, if diagnosed with a terminal illness, policyholders will receive 50% of the base sum assured, with all future premiums waived while policy benefits continue. The plan also offers a facility to defer premiums by up to 12 months,…

22 Aug

The employment upgrade rate of Indian industry has declined to 1.5% in FY 2024, while it was 5.7% in FY 2023

Business CorrespondentBusiness, News

According to a latest report released by Bank of Baroda (BoB), the employment scenario in the Indian corporate sector looks bleak.The public sector bank, based on an analysis of balance sheets of 1,196 companies, pegged the employment growth rate at 1.5% in FY24, down from 5.7% in FY23.In absolute terms, companies added less than 100,000 employees in FY2024, compared to 333,000 in FY23.The reason for the decline in employment growth rate is the increase in hiring after the pandemic in FY 2023. According to the report, the same financial year also saw significant attrition including voluntary and involuntary resignations. However,…

22 Aug

Pernod Ricard India launches Seagram’s Royal Stag Double Dark, expands whisky portfolio with a smoky innovation

Business BureauBusiness

Pernod Ricard India has introduced Seagram’s Royal Stag Double Dark, a distinctive peaty whisky crafted for consumers seeking authentic and exclusive experiences. Launched on August 20, 2024, this innovative whisky marks a first in its category, offering a unique blend that enhances the Royal Stag product portfolio. Royal Stag Double Dark is designed for the evolving consumer, embracing experimentation and refined taste profiles. The whisky features a smoky flavor achieved through the maturation of selected peated malt and Scotch malt concentrate in dark charred oak barrels. This double-distilled blend, packaged in a contemporary Ashberry-colored bottle with a burnt wood tactile…