Business News Northeast - Latest Business Northeast News & Updates

29 Jul

Tata Motors and Axis Bank offer an exclusive Program

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India’s leading automotive manufacturer Tata Motors has joined hands with Axis Bank, India’s third largest private sector bank, to offer an exclusive Electric Vehicle Dealer Financing solution to its authorized passenger EV dealers. Under this scheme, dealers can avail inventory funding over and above their ICE finance limit with attractive pricing linked to Repo Linked Lending Rate. The repayment tenure will range from 60 to 75 days. The bank will also offer additional limit to cater to high demand phases, which will be available to dealers 3 times in a year. The MoU for this partnership was signed by Mr.…

29 Jul

ICICI Pru Life’s strong financial performance

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ICICI Prudential Life Insurance has posted a strong financial performance for Q1-FY2023. The VNB for Q1-FY2023 grew by 31.6% year-on-year to 4.71 billion. The VNB margin for Q1-FY2023 stood at 31.0%, up from 28.0% for FY2022. Annualised Premium Equivalent grew by 24.7% year-on-year to 15.20 billion in Q1-FY2023. Annuity APE registered a strong growth of 69.0% year-on-year to 0.98 billion in Q1-FY2023. Protection APE grew by 22.2% year-on-year to 3.30 billion in Q1-FY2023. New Business Sum Assured grew by 24.9% year-on-year to 2.21 trillion in Q1-FY2023. The Company’s market share, based on Total New Business Sum Assured, increased from 13.4%…

29 Jul

CM of Meghalaya Shri. Conrad Sangma launcheS FOCUS+

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Hon’ble Chief Minister of Meghalaya Shri. Conrad Sangma has launched FOCUS+ as an expansion to his flagship initiative FOCUS to benefit all households across Meghalaya. In its new format, FOCUS+ will provide an opportunity to families to take up additional activities and contribute towards agriculture value chain development. Under this scheme, a financial aid of Rs 5,000/- per household will be provided directly to the beneficiary’s bank account. Speaking at the event, Hon’ble Chief Minister of Meghalaya, Mr. Conrad K Sangma said, “FOCUS is very close to my heart, because it helped a large section of our farming community! And…

29 Jul

Amazon Prime Day 2022 delights Prime members

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Prime Day 2022 in India came to a successful close this weekend (July 23 and 24) with members across India discovering joy at the two-day celebration with the best deals, savings, new launches, blockbuster entertainment and more. Prime members from 95% of the pin codes in India purchased during this year’s Prime Day more than 32,000 sellers saw their highest ever sales day. 1.5x more customers signed up for Prime membership compared to last year’s Prime Day. Prime members from over 3800 Indian cities and towns and in over 230 countries and territories have watched India’s Prime Day releases on…

29 Jul

Latest Gold Demand Trends report

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The World Gold Council’s latest Gold Demand Trends report reveals that gold demand (excluding OTC) in the second quarter was down 8% year-on-year to 948t. Gold demand for the first half of 2022 is up 12% compared to H1 2021at 2,189t. The gold price dropped in the second quarter of 2022 as investors shifted their focus to rapidly rising interest rates and a strikingly strong US dollar. The 6% decline in the gold price over the quarter impacted gold ETFs, which saw outflows of 39t in Q2. Net H1 inflows totalled 234t, compared to 127t of outflows in H1 2021.…

29 Jul

ATS ELGI announces manufacturing agreement with VTEQ

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ATS ELGI, a wholly-owned subsidiary of Elgi Equipments Limited and India's largest garage equipment manufacturer, announced its manufacturing agreement with VTEQ, a global leader in vehicle testing equipment based out of Spain. It is the largest manufacturer and distributor of Automotive Service Equipment in India and offers the broadest range of garage equipment in the country. It will set up a world-class 7500sq.ft. manufacturing facility to manufacture previously imported vehicle testing equipment for the Indian market at competitive prices. The equipment spans brake, suspension, slip, and speedo testers, axle play detectors, and steering gear play. Praveen Tiwari, Managing Director, ATS…

29 Jul

TECNO launches new smartphone – TECNO SPARK 9T

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TECNO Mobile, the global premium smartphone brand launches TECNO SPARK 9T, under its ‘SPARK series’. It boasts the integration of an advanced triple-rear camera set-up at a disruptive price-point of Rs.9,299. TECNO has cemented its position as the 4th largest smartphone player in the sub-10K segment as per Counterpoint Research. It comes with F1.6 large Aperture with PDAF technique, 50MP Ultra Clear High-Resolution AI Triple rear camera with Super Night Mode, 8MP selfie camera with a dual front flashlight, 6.6” Full HD+ Dot-Notch Display, 1080x2408 full HD resolution with 401PPI high pixel density, IPX2 splash-resistant, 5000mAh Powerful Battery with 18W…

28 Jul

National Road Safety Awareness Campaign in Assam

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Honda Motorcycle and Scooter India (HMSI) continues its National Road Safety Awareness Campaign in the country to re-emphasize the need for road safety awareness among citizens. The two-days camp (26-27 July 2022) at the Jawahar Navodaya Vidyalaya in Bongaigaon witnessed spirited participation from over 1700 school students and staff members who set out to imbibe the safe riding practices. HMSI’s road safety instructors utilized the age appropriate road safety learning programs to enhance the retention of road safety awareness among all. The program made learning fun yet scientific through interactive session, practical learning, scientific theory learning module, existing drivers honing…

28 Jul

Tata Motors announces Q1 FY23 results

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Tata Motors Ltd announced its results for quarter ending June 30, 2022. The results represent the details on consolidated segment level. For Jaguar Land Rover, Retail sales in Q1 FY23 were 78,825 vehicles, broadly flat compared with Q4 FY22 and down 37% compared with Q1 FY22. Revenue was £4.4 billion in Q1 FY23, down 7.6% from Q4 FY22, impacted by supply challenges including semiconductor shortages, slower than expected ramp-up of the New Range Rover and New Range Rover Sport production and China lockdowns. The customer order book grew further to 200,000 vehicles. The loss before tax in the quarter was…

28 Jul

Nestlé MILO and IIS support India’s top athletes

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Nestlé MILO joins forces with Inspire Institute of Sport (IIS), one of India’s premier training centers that has a vision to create and develop Olympic champions in India. MILO has always believed in the importance of sports and in providing nourishing energy to young champions. IIS leverages its world-class infrastructure, finest coaching and sports science to scout for young athletes and train them to become future Olympians of our country. They have already been successful in producing three Olympic medalists, including Tokyo Gold medalist Neeraj Chopra. As the Official Dairy Partner of IIS, Nestlé India will contribute one year worth…