Business - The Purbottar

08 Jan

CoinSwitch launches Rs 600 crore initiative for crypto loss recovery

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CoinSwitch, India’s leading crypto platform with over 2 crore users, has unveiled “CoinSwitch Cares,” a ₹600 crore recovery program aimed at aiding users impacted by the alleged WazirX cyberattack in July 2024. The initiative promises financial relief, rewards, and opportunities for affected users to re-enter the crypto market confidently. Ashish Singhal, Co-founder of CoinSwitch, emphasized the platform’s commitment to rebuilding the Indian crypto community. “We don’t want crypto investors in India to miss opportunities. This program is an important step to rebuild what was lost,” he said. The program offers assured signup rewards, revenue redistribution, and referral bonuses to help…

08 Jan

Bandhan Mutual Fund launches multi-factor Nifty Alpha Low Volatility 30 Index Fund

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Bandhan Mutual Fund has launched the Bandhan Nifty Alpha Low Volatility 30 Index Fund, an innovative open-ended scheme combining Alpha and Low Volatility factors. The fund tracks the Nifty Alpha Low Volatility 30 Index, focusing on stocks that historically generate alpha while maintaining low volatility. The approach seeks to balance growth potential with stability, making it an appealing option for investors navigating uncertain markets. The New Fund Offer (NFO) opens on January 8, 2025, and closes on January 20, 2025. Investors can subscribe via licensed distributors, online platforms, or directly on the Bandhan Mutual Fund website. Speaking about the fund,…

08 Jan

NSDC partners with Axis My India to address skill gaps across India

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In a strategic move to enhance skill development in India, the National Skill Development Corporation (NSDC) has partnered with Axis My India, a consumer intelligence firm, to leverage data-driven insights to identify and bridge skill gaps. This collaboration aims to improve skilling initiatives by mapping demand and supply across sectors and measuring the impact on beneficiaries, particularly in underserved regions. The partnership will utilize Axis My India's expertise in research and grassroots insights to ensure that skill development programs align with market needs. NSDC aims to enhance the effectiveness of training initiatives by evaluating their impact on employability, income generation,…

07 Jan

NTPC Green Energy shares upgrade on winning 1000 MW power project

editorBusiness, News

NTPC Green Energy share price rose over one per cent in early trade on January 6 after the company's subsidiary bagged a 1000 MW power project from Uttar Pradesh Power Corporation Limited (UPPCL). At 09:27 am, NTPC Green Energy was quoting at Rs 129.95, up Rs 1.60 or 1.25 percent on the BSE. The company's arm NTPC Renewable Energy (NTPC REL) bagged a 1000 MW capacity at an impressive rate of Rs 2.56/kWh, however, the Letter of Award (LoA) from UPPCL is awaited. The wholly-owned subsidiary has emerged as a successful bidder in the e-reverse auction conducted by UPPCL for…

06 Jan

Polymatech Electronics sets up second plant in Chhattisgarh to boost 5G and 6G technologies

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Polymatech Electronics, a global leader in semiconductor manufacturing, has announced the establishment of its second plant in India, set to be located in Nava-Raipur, Chhattisgarh. This state-of-the-art facility will focus on the production of advanced semiconductor chips and base stations for 5G and 6G technologies, marking a significant step toward enhancing India’s capabilities in the global semiconductor and telecom sectors. The Chhattisgarh government has extended strong support to this venture, offering a 40% capital subsidy as part of its progressive industrial policy. Polymatech, in collaboration with Simply RF from the UK, will produce semiconductor chips using cutting-edge Gallium Nitride (GaN)…

06 Jan

Viraasat Handloom Expo set to showcase India’s rich textile heritage in Guwahati

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The much-awaited "Viraasat Special Handloom Expo" will be held from January 8 to 14, 2025, at Mahavir Dharm Sthal, Fancy Bazar, Guwahati. Organized by the Development Commissioner (Handlooms) under the Ministry of Textiles, Govt. of India, the expo will display a stunning array of handloom creations from across India. The event will run daily from 11:00 AM to 8:00 PM, offering visitors a chance to explore unique textiles such as Banarasi, Jamdani, Muga, Ikkat, and many more. The expo aims to promote sustainable and ethical fashion through its #MyHandloomMyPride and #MyProductMyPride campaigns. Attendees will be treated to live weaving demonstrations,…

06 Jan

Indobell Insulations Limited announces Rs 1,014.30 lakhs IPO for expansion and growth

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Indobell Insulations Limited, a leading manufacturer and contractor of specialized insulation products, has launched its Initial Public Offering (IPO) on the BSE SME platform. The company aims to raise ₹1,014.30 lakhs by issuing 22,05,000 equity shares priced at ₹46 each. The IPO will be open for subscription from January 6 to January 8, 2025. The proceeds from the IPO will be utilized for acquiring advanced machinery to enhance production capacity, meeting working capital requirements, and supporting general corporate purposes. The company, which specializes in Nodulated Wool, Ceramic Fibre Nodules, and Mineral Fibre Nodules, caters to various sectors, including power, commercial,…

06 Jan

Vi strengthens its annual recharge portfolio with SuperHero

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Telecom giant Vodafone Idea (Vi) has introduced its latest offering, the SuperHero Annual Recharge Packs, providing users unlimited data access from 12 AM to 12 PM daily, paired with robust savings of up to 25% compared to monthly plans. The move caters to India’s surging demand for high-speed data and entertainment needs. Vi's SuperHero Packs come in three variants—₹3,599, ₹3,699, and ₹3,799—offering 2GB daily data for the remaining half of the day, weekend data rollover, and emergency data top-ups with its Data Delight feature. Additionally, premium plans include annual subscriptions to Disney+ Hotstar Mobile or Amazon Prime Lite, enhancing their…

06 Jan

India’s foreign exchange reserves continue to decline, down 10% from peak

editorBusiness, News

India's foreign exchange reserves have declined in 12 of the last 13 weeks, hitting a multi-month lowIndia's foreign exchange reserves continue to decline, continuing a three-month long decline. In the week ended December 27, the country's foreign exchange reserves fell by $4.112 billion to $640.279 billion, data from the Reserve Bank of India (RBI) showed.India's foreign exchange reserves have declined in 12 of the last 13 weeks, hitting a multi-month low.The reserves have been declining ever since they touched an all-time high of $704.89 billion in September. Effectively, it is now down by about 10 per cent from the peak.The…

04 Jan

World’s first fetal aortic valvuloplasty with device closure performed at Rainbow Children’s Heart Institute

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The Rainbow Children’s Heart Institute has successfully performed the world’s first fetal aortic valvuloplasty with device closure on a 27-week-old fetus, diagnosed with critical aortic stenosis. This pioneering procedure, which combines advanced fetal cardiac intervention with a closure device, sets a new global standard in fetal cardiology. The procedure, led by Dr. Koneti Nageswara Rao, Chief Pediatric Cardiologist, and his team, involved using a balloon catheter to relieve the narrowing of the aortic valve, followed by the innovative use of a device to seal the puncture site. This groundbreaking step ensures the safety of the fetus during and after the…