Business News Northeast - Latest Business Northeast News & Updates

28 Jul

TML Consolidated Q1 FY24 Results

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Tata Motors Ltd. (TML) shares its results for quarter ending June 30, 2023. Tata Motors continued its strong performance in Q1 FY24, with revenues at 102.2K Cr, EBITDA at 14.7K Cr, and EBIT of 8.3KCr. The company's JLR business experienced a 57% increase in revenues to £6.9b, with EBIT margins of 8.6%. CV volumes were lower by 15% due to BS6 Phase 2, but EBIT margins improved to 6.5%. The PV business experienced 11.1% revenue growth and EBIT of 1.0%. Overall, PBT (bei) improved by 10.3KCr to 5.3KCr, and net profit was 3.3KCr. Despite near-term uncertainties, the company remains optimistic…

28 Jul

Coca-Cola India announces the appointment of Ajay Vijay Bathija as Vice President

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Coca-Cola India has appointed Ajay Vijay Bathija as Vice President of Franchise Operations for Southwest Asia, bringing 24 years of marketing and franchise expertise to the role. Ajay started his career in 1999 with Hindustan Coca-Cola Beverages Pvt. Ltd. Front Line Sales and grew rapidly across roles. He became the Region Manager for the Mekong Delta Region at SabCo Vietnam in 2005, leading sales operations and route-to-market strategies to drive volumes. In India, Ajay Vijay Bathija has led the "Share a Coke" campaign and introduced Coca-Cola Zero sugar in INSWA markets. He also revitalized ThumsUp through integrated marketing campaigns, boosting…

27 Jul

As per IBM reports India data breach cost touched INR 179 million in 2023

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IBM's annual Cost of a Data Breach Report revealed an all-time high average cost of INR 179 million in 2023, a 28% increase since 2020. Detection and escalation costs jumped 45%, indicating a shift towards more complex investigations. The report highlights the need for better security measures to mitigate data breaches. India faces a high prevalence of phishing attacks, with social engineering being the most costly root cause, costing INR 191 million. Global businesses struggle to handle data breaches, causing more incident costs than security investments. Viswanath Ramaswamy, Vice President, Technology, IBM India & South Asia said, “It’s clear that…

27 Jul

Tata Motors launched its second Registered Vehicle Scrapping Facility

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Tata Motors, India's leading automobile manufacturer, has launched its second Registered Vehicle Scrapping Facility (RVSF) in Bhubaneswar, Odisha. The facility, named 'Re.Wi.Re - Recycle with Respect,' was inaugurated by Smt Tukuni Sahu, Hon'ble Minister of Water Resources, Commerce & Transport, Government of Odisha. The advanced facility uses environmentally friendly processes and can safely and sustainably disassemble 10,000 end-of-life vehicles annually. Tata Motors' Empreo Premium partners with Empreo Premium to launch the RVSF, a sustainable initiative to scrap end-of-life passenger and commercial vehicles. At the launch of Tata Motors' Re.Wi.Re RVSF in Odisha, Smt Tukuni Sahu, Hon'ble Minister of Water Resources,…

27 Jul

JLR India accomplishes highest ever Q1 sales

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JLR India reported a 102% Q1 sales growth in Q1 FY24, with 1048 units sold. This was driven by 209% growth in Range Rover, Range Rover Sport, and Defender sales, contributing 78% of the current order book.The order book for Q1 FY24 grew by 88% due to the launch of the New Range Rover and New Range Rover Sport, and the overwhelming response to the Defender. This increase covers over six months of sales and is consistent month-on-month. JLR's certified pre-owned business in India grew by 137% in Q1 of 2024, reflecting the increasing demand and equity of its brands.…

27 Jul

Royal Stag Boombox unveils first original song ‘Pehle Jaisi Baat Nahi’

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Royal Stag Boombox is a first-of-its-kind musical experience, where the melody of Bollywood meets the gully of hip hop, making way for the rise of a completely new genre of music. Music evokes emotions in people across generations, making it a significant passion pillar for Seagram’s Royal Stag. Celebrating the spirit of ‘Living it Large’ and having enthralled thousands of music lovers in Manipal, Bhubaneshwar, Pune, Indore & Dehradun with its unique on-ground experiences, Royal Stag Boombox enters its next phase with launch of 4 original music videos. The first original music track to be released is a unique collaboration…

27 Jul

M&M buys 3.5% stake in RBL Bank for Rs 417 crore

Priyanka Bhowmick0 CommentsBusiness, IndiaIndia

Mahindra and Mahindra on Wednesday said it acquired a 3.53% stake in RBL Bank Ltd for Rs 417 crore. M&M said it would consider further investment subject to regulatory compliance and required procedures but would not acquire a stake of more than 9.9%. "We have acquired a 3.53% stake in RBL Bank at a cost of Rs 417 crore. We may consider further investments subject to pricing, regulatory approvals and required procedures. However, under no circumstances will it exceed 9.9%," M&M said in a stock exchange filing. In a separate statement, RBL said it was not aware of any purchase…

26 Jul

Vi enables access to over 10,000 international job opportunities for the Bharat youth

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Vi, India's leading telecom operator, partners with Apna, India's largest job search platform, to provide over 10,000 international job opportunities for Bharat youth. The platform offers manufacturing, sales, business development, customer support, and logistics positions in countries like UAE, Japan, Australia, and Canada. Candidates with a Graduate degree, ITI certification, or a Specialized Diploma can apply for overseas employment. Vi and Apna's unique proposition aligns with the government's goal to make India the skill capital of the world, leveraging the demographic dividend. Indian youth are favored due to their problem-solving mindset, digital literacy, adaptability to new technologies, and dedication to…

26 Jul

A roundtable meeting was organized in Guwahati to commemorate Mega Oil Plantation Drive

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The Government of India under the National Mission on Edible Oils-Oil Palm (NMEO-OP) has launched a Mega Oil Plantation Drive from July 25 to August 5, 2023. To commemorate this initiative, a roundtable was organized in Guwahati, attended by Godrej Agrovet Ltd, the Indian Institute of Oil Palm Research, The Solvent Extractors' Association of India, and the Solidaridad Network. They discussed the importance of oil palm cultivation in the Northeast and its potential to uplift farmers. Godrej Agrovet Ltd, a leading food and agri-business conglomerate, has been involved in an oil palm plantation in the region since 2006 and has…

26 Jul

G20 Disaster Risk Reduction Working Group begins in Chennai

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Under India’s G20 presidency, the third Disaster Risk Reduction (DRR) Working Group meeting is being convened from July 24 - 26, 2023, in Chennai. The main focus of the three-day meeting was on the promotion of cooperation for a disaster-resilient future. Along with this, the meeting also witnessed deliberations on the draft Communiqué. Kamal Kishore, Chairman of the Disaster Risk Reduction Working Group and NDMA Member Secretary, delivered a welcome address during the inaugural session. Addressing the meeting, Principal Secretary to Prime Minister Mishra emphasized the importance of national and global efforts to reduce the effects of disaster risk. While,…