Business News Northeast - Latest Business Northeast News & Updates

04 Jan

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

Priyanka RoyBusiness, 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…

03 Jan

Capital Small Finance Bank’s total deposits upsurge 12% to ₹8,384 crore in Q3

Priyanka RoyBusiness, News

Capital Small Finance Bank Limited (CSFB) has recorded a 12% year-on-year (YoY) growth in total deposits for the quarter ended December 31, 2024, reaching ₹8,384 crore. This growth is also accompanied by significant progress in loan disbursements, improved asset quality and strong liquidity metrics. Loan advances up 19.2%: The Bank's gross advances reached ₹6,816 crore, registering a growth of 19.2% year-on-year (YoY). Around 99.8% of the portfolio remains secured. Asset quality remains strong: CSFB demonstrated improved asset quality, with the gross non-performing asset (NPA) ratio declining to 2.67% from 2.97% in the same quarter last year. Deposits grew to ₹8,384…

02 Jan

Eicher Motors shares upsurge over 6% as the company reported a 25% rise in motorcycle sales in Decembe

Priyanka RoyBusiness, News

Shares of Royal Enfield maker Eicher Motors rose over 6% on January 2 after the company reported a 25% rise in motorcycle sales in December. In a stock exchange filing, the company said its total motorcycle sales rose 25% to 79,466 units in December as against 63,387 units in the same period a year ago. The company's international business also performed better, rising 90% to 11,575 units. At 11:50 am on January 2, Eicher Motors shares were trading over 6% higher at Rs 5,199.5 per share. The stock has a market capitalisation of Rs 1.43 lakh crore. B Govindarajan, CEO,…

31 Dec

RVNL shares upgraded 8% on bagging two projects worth Rs 541 crore

Priyanka RoyBusiness, News

Shares of Rail Vikas Nigam Limited rallied nearly eight per cent in the morning session on the last trading day of 2024. The railway firm was declared the lowest bidder for the two projects. As a result, RVNL shares snapped a nine-session losing streak. At 11.50 am, the stock was at Rs 427.4 on the NSE, up 4.7 percent from its previous session closing price. First, RVNL won a Rs 137-crore project from the Central Railway. RVNL has 24 months to complete the project. The railway firm will undertake design, supply, construction, testing and commissioning of 132/55 kV traction substations,…

31 Dec

ICICI Prudential Life launches industry-first women-specific health insurance product

Business BureauBusiness

ICICI Prudential Life Insurance has launched ‘ICICI Pru Wish’, the first health product in the life insurance industry specifically designed for women. ICICI Pru Wish instantly pays out up to 100% of the health cover amount on diagnosis of critical illnesses like breast, cervical, uterine cancers and heart ailments to name a few. Importantly, the premium amount remains constant for a period of 30 years, enabling customers to plan their funds outflow in a better manner. Another notable feature of this product is the premium holiday i.e. the customer has the option to not pay premiums for a period of…

30 Dec

Vodafone Idea shares flourish over 5% as government waives bank guarantees for previous spectrum auctions

Priyanka RoyBusiness, News

Vodafone Idea shares surged over 5 per cent on December 30 as government waives bank guarantees for previous spectrum auctions. At 11:10 am on December 30, Vodafone Idea shares were trading at Rs 7.88. The telecom firm has been exempted from providing bank guarantees of Rs 24,800 crore for spectrum auctions held before 2021 (2012, 2014, 2015, 2016). In a filing dated December 28, the company termed the government reform as a "major relief for telcos". The company said that prior to this reform, the company was required to provide bank guarantees totalling Rs 24,800 crore for each spectrum instalment…

28 Dec

Boney Kapoor’s hair restoration journey highlights the growing appeal of Eugenix

Business BureauBusiness

Eugenix Hair Sciences, India’s premier hair restoration clinic, has hosted an exclusive event that brought together Bollywood stalwart Boney Kapoor, Dr. Pradeep Sethi, and Dr. Arika Bansal. This glittering occasion celebrated the transformative power of advanced hair restoration techniques, with Boney Kapoor sharing his remarkable hair transplant journey. In an intimate and captivating session, Boney Kapoor opened up about his experience with Eugenix, saying, “Self-care and confidence are invaluable. This hair transplant has rejuvenated my appearance and revitalized my spirit.” His inspiring words resonated deeply with the audience, highlighting the profound impact of hair restoration. Dr. Arika Bansal, co-founder of…

28 Dec

Jersey Electricity reports 8.5% revenue gain in 2024

Priyanka RoyBusiness, News

JERSEY - Jersey Electricity plc has announced its financial results for the year ended September 30, 2024, reporting an 8.5% increase in revenue to £135.7 million. The company, which has been a major player in the island's energy sector for a century, recorded a profit before tax of £15.1 million, a slight improvement on the previous year's £14.9 million. The Board recommended a final dividend of 12.00p per share for the year, an increase of 5.3% from the 2023 dividend. This, combined with the interim dividend, brings the total dividend for the year to 19.80p per share. The final dividend…