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21 Jul

LIC grow stake in State Bank of India to 9.49%

Business CorrespondentBusiness, News

Life Insurance Corporation of India (LIC) on Monday, July 21, said that the company has raised its stake in State Bank of India through a qualified institutional placement (QIP). The insurance giant has raised its stake to 9.49% from 9.21% earlier. LIC said in a regulatory filing on Monday, "...You are hereby informed that Life Insurance Corporation of India ("Corporation") has increased its shareholding in the equity shares of State Bank of India ("SBI") from 81,465,986.9 to 87,585,938.0 i.e. from 9.21% to 9.49% of the paid-up capital of SBI." On Monday, LIC shares closed marginally higher by 0.63% at ₹928.95…

21 Jul

Bandhan Bank reports 11% growth in total business, deposits surge to Rs 1.55 lakh crore

Business BureauBusiness

Bandhan Bank reported an 11% year-on-year growth in total business, reaching ₹2.88 lakh crore for Q1 FY26. The bank's deposit base rose by 16% to ₹1.55 lakh crore, with retail deposits accounting for nearly 68%. Advances stood at ₹1.34 lakh crore, marking a 6% growth from last year. Net profit for the quarter touched ₹372 crore. The bank’s strong performance was supported by an expanded distribution network and enhanced operational efficiency. Its CASA ratio stands at 27.1%, while the Capital Adequacy Ratio remains healthy at 19.4%, well above regulatory norms. MD & CEO Partha Pratim Sengupta said, “While the operating…

21 Jul

Tata Motors launches Ace Pro at Rs 3.99 lakh, eyes small business boom across markets

Business BureauBusiness

Tata Motors has launched the all-new Tata Ace Pro, India’s most affordable four-wheel mini-truck, at an introductory price of ₹3.99 lakh. Designed to boost small cargo mobility, the Ace Pro is available in Petrol, Bi-Fuel (CNG + Petrol), and Electric variants—catering to the diverse needs of India’s next generation of entrepreneurs. The vehicle comes with a best-in-class 750 kg payload capacity, modular load body options, and is built on a robust platform for long-lasting performance. The electric variant offers a 155 km range, while the bi-fuel version ensures uninterrupted operations with a petrol backup. Launching the Ace Pro, Girish Wagh,…

21 Jul

Scarless heart surgery gives new life to 17-year-old Aizawl girl at Manipal Hospital, Kolkata

Business BureauBusiness

A 17-year-old girl from Aizawl, Mizoram, was successfully treated for a congenital heart condition at Manipal Hospital, Broadway, Kolkata. Laldinpuii (name changed), who had long suffered from breathlessness and fatigue, was diagnosed with a 4 cm Atrial Septal Defect (ASD) and underwent Minimally Invasive Cardiac Surgery (MICS) on June 26 by Dr. Sujoy Chatterjee, Senior Consultant, Cardiothoracic & Vascular Surgery. The surgery was uniquely performed through a 2.5-inch incision beneath the breast, leaving virtually no visible scar — a key concern for the young patient. “MICS allows for faster recovery, minimal scarring, and quicker return to daily life,” said Dr.…

19 Jul

AM/NS India commissions India’s first high-strength steel galvanising line for auto sector

Business BureauBusiness

ArcelorMittal Nippon Steel India (AM/NS India) has commissioned a state-of-the-art Continuous Galvanising Line (CGL) at its Hazira plant in Gujarat, becoming the first in India to produce Advanced High-Strength Steel (AHSS) up to 1180 MPa for the automotive sector. The new unit, part of the company’s ₹60,000-crore expansion project inaugurated by Prime Minister Narendra Modi, is designed to replace imports and meet evolving demands in auto manufacturing. Equipped with cutting-edge environmental technologies and backed by the global expertise of ArcelorMittal and Nippon Steel, the facility is poised to bolster the Make in India and Atmanirbhar Bharat initiatives. The line will…

19 Jul

Tata Motors unveils Ace Pro mini-truck at Rs 3.99 lakh, targets next-gen entrepreneurs

Business BureauBusiness

Tata Motors launched the Tata Ace Pro, India’s most affordable four-wheel mini-truck, priced from ₹3.99 lakh. Designed to empower aspiring entrepreneurs, the Ace Pro is available in Petrol, Bi-Fuel (CNG + Petrol), and Electric variants, delivering high efficiency, stability, and profitability for a wide range of transport needs. Built on a modular platform, the Ace Pro boasts a 750 kg payload capacity and 6.5-ft deck, making it ideal for applications such as FMCG, agriculture, courier, and e-commerce logistics. With over 1,250 sales points and tailored financing solutions in partnership with banks and NBFCs, Tata Motors aims to simplify ownership for…

19 Jul

‘SIGH’ sets the tone; Royal Stag BoomBox Returns with bold bollywood-hip-hop fusion

Business BureauBusiness

Royal Stag BoomBox, the flagship music IP from Seagram’s Royal Stag in collaboration with Universal Music Group, has launched its first original of the season — ‘SIGH’, a powerful fusion of Bollywood melody and hip-hop featuring Nikhita Gandhi and Dino James. Released across all major streaming platforms, the track marks the beginning of a bold new chapter in the BoomBox Originals lineup. Blending smooth vocals with sharp hip-hop rhythms, SIGH celebrates self-expression and confidence, reflecting the brand’s “Live It Large” philosophy. Nikhita Gandhi called the collaboration “refreshing,” while Dino James praised it as “bold, authentic, and unapologetically honest.” Pernod Ricard…

19 Jul

Indian Overseas Bank Q1 results: Net profit gain 76% y-o-y to ₹1,111 crore; net profit (NII) up 13%

Business CorrespondentBusiness, News

Indian Overseas Bank (IOB) reported a 75.56% rise in its standalone net profit y-o-y to ₹1,111 crore in the June quarter of FY 2025-26 (Q1 FY26). Its profit stood at ₹632.8 crore in the same period a year ago. The bank's net interest income jumped 13% y-o-y to ₹2,747 crore in the quarter under review, as against ₹2,441 crore in Q1 FY25. Its net interest turnover grew to ₹2,746 crore in the June quarter of FY26, up 12.4% from ₹305 crore in the first quarter of FY25 to 10.8%. The asset quality of this publicly owned company has improved, with…

18 Jul

Aluminium futures prices increase on speculators’ bets

Business CorrespondentBusiness, News

New Delhi, Aluminium prices rose by 80 paise to Rs 250.25 per kg in futures trade on Friday as speculators created fresh positions amid positive trend in the spot market. At the Multi Commodity Exchange, the price of aluminium contract for August delivery rose by 80 paise or 0.32 percent to Rs 250.25 per kg in a business turnover of 1,889 lots. Analysts said fresh positions created by traders amid demand from consumer industries supported aluminium prices in the futures market.

18 Jul

JSW Cement unveils CHD JalKavach

Business BureauBusiness

JSW Cement has launched CHD JalKavach, a revolutionary super-premium cement powered by Turbo Gel Technology, marking India’s first water-repellent cement specifically engineered for moisture-prone regions like West Bengal and Bihar. Announced by JSW Cement CEO Nilesh Narwekar, the product promises superior resistance to seepage, dampness, and corrosion—common challenges during the monsoon season in Eastern India. “The weather in this region compromises concrete longevity. CHD JalKavach is a targeted solution for stronger, longer-lasting structures,” said Narwekar. Formulated with a polymer-enriched hydration matrix, the Turbo Gel Technology enhances compressive strength and workability. The cement’s slag-based composition also supports JSW’s sustainability goals, offering…