Business - The Purbottar

29 Oct

Axis Income Plus Arbitrage Passive FOF launches by Axis Mutual Fund

Business BureauBusiness

Axis Mutual Fund, one of India’s leading asset management companies, has announced the launch of the Axis Income Plus Arbitrage Passive FOF, an innovative open-ended scheme designed to offer investors a blend of stability, predictability, and tax efficiency. The New Fund Offer (NFO) will open for subscription on Oct 28, 2025, and close on Nov 11, 2025. The fund is managed by Devang Shah (Head – Fixed Income), Aditya Pagaria (Senior Fund Manager), Hardik Satra (Senior Fund Manager), and Karthik Kumar (Fund Manager). This new offering is tailored for investors seeking to optimize their post-tax returns while maintaining a conservative…

28 Oct

Tide introduces NCMC-enabled expense card to simplify commute and business payments for SMEs

Business BureauBusiness

In a major boost for India’s small businesses and freelancers, Tide, the country’s leading financial management platform for SMEs, has launched National Common Mobility Card (NCMC) support on its RuPay-powered Expense Card. The integration enables users to travel and make business transactions seamlessly using a single card — covering metro, bus, toll, and parking payments across major Indian cities. Backed by the Government of India, the NCMC feature allows Tide members to top up and manage balances in real time through the Tide app. Entrepreneurs and business teams can now manage their travel, invoices, and expense reimbursements within one platform,…

28 Oct

Nestlé India posts record domestic sales of Rs 5,411 crore in Q2 FY26, led by volume growth

Business BureauBusiness

Nestlé India has reported a strong double-digit, volume-led growth in the second quarter of FY2025-26, with total sales reaching ₹5,630.2 crore and domestic sales hitting an all-time high of ₹5,411 crore. The company’s EBITDA stood at 22% of sales, while profit after tax came in at ₹753.2 crore. Chairman and Managing Director Manish Tiwary attributed the robust performance to strong momentum across three of four product categories, including confectionery, beverages, and prepared dishes. “Domestic sales grew at a double-digit rate led by volume growth, with KITKAT emerging as the largest growth driver,” he said, adding that the recent GST rate…

28 Oct

Yas Island to bring the upside down alive with “Stranger Things: The Experience” from November 14

Business BureauBusiness

Yas Island Abu Dhabi is set to transform into the eerie town of Hawkins, Indiana, as it unveils “Stranger Things: The Experience” on November 14, marking the first-ever Middle East debut of the globally acclaimed immersive attraction. Inspired by Netflix’s hit series, the experience will let fans step into the supernatural world of Stranger Things through live actors, detailed sets, and spectacular special effects. Visitors can explore iconic locations—from Hawkins Lab to the dark tunnels of the Upside Down—before entering a nostalgic “Mix-Tape” zone offering themed food, exclusive merchandise, and 80s-inspired photo opportunities. Liam Findlay, CEO of Miral Destinations, said,…

28 Oct

Hyatt launches new ‘World of Hyatt’ campaign in India with Karisma Kapoor to celebrate personalized travel experiences

Business BureauBusiness

Hyatt Hotels has unveiled its new World of Hyatt campaign in India, featuring Bollywood actor Karisma Kapoor as the face of the initiative. Rooted in Hyatt’s purpose of caring for people so they can be their best, the campaign highlights the brand’s commitment to meaningful hospitality, where loyalty, recognition, and personal connection define every guest experience. Through this collaboration, Hyatt invites travelers to become part of the World of Hyatt loyalty program, which offers members tangible benefits from their very first stay — including redeemable points for complimentary nights, upgrades, and exclusive experiences. The campaign aims to connect deeply with…

28 Oct

Amrita launches Mizoram Science & Innovation hub, empower 9,000 lives through technology and compassion

Business BureauBusiness

The newly inaugurated Amrita–Mizoram Science, Technology & Innovation (STI) Hub at Mizoram University marks a significant milestone in bridging science and community welfare in the state. Established by Amrita Vishwa Vidyapeetham in collaboration with the university under the Department of Science and Technology (DST), the hub provides permanent facilities for laboratories, training, and innovation initiatives tailored for Mizoram’s hilly terrain. Since its launch two years ago, the hub has impacted over 9,000 residents, with more than 70% of beneficiaries being women, through programs in food processing, bamboo craft, digital literacy, and health awareness. The hub leverages Amrita’s Live-in-Labs® and AMMACHI…

27 Oct

Kotak Mahindra Bank Q2FY26 PAT at Rs 4,468 crore; steady growth in customer assets and AUM

Business BureauBusiness

Kotak Mahindra Bank Ltd. reported a consolidated profit after tax (PAT) of ₹4,468 crore for Q2FY26, compared to ₹5,044 crore in the same period last year. The standalone PAT stood at ₹3,253 crore against ₹3,344 crore in Q2FY25, the bank said following a board meeting on Saturday. Consolidated customer assets rose 13% year-on-year to ₹5,76,339 crore as of September 30, 2025, while total assets under management (AUM) grew 12% to ₹7,60,598 crore. At the standalone level, net advances climbed 16% to ₹4,62,688 crore, and total deposits increased 14% to ₹5,10,538 crore. The CASA ratio stood at 42.3%, with net interest…

27 Oct

Kotak Mahindra Bank reappoints C S Rajan as part-time chairman

Business BureauBusiness

Kotak Mahindra Bank Limited (KMBL) on Friday announced that the Reserve Bank of India (RBI) has approved the reappointment of Mr. C S Rajan as Part-Time Chairman. His new term will run from January 1, 2026, to October 21, 2027, under Section 10(B)(1A)(i) of the Banking Regulation Act, 1949. Mr. Rajan, an Independent Director since October 2022, has been serving as Part-Time Chairman since January 2024. The reappointment is seen as a move to ensure continuity in leadership and governance as the bank charts its next phase of strategic growth. With 46 years of public service experience, including roles as…

27 Oct

IFAT India 2025 ends on a high note with record global participation and sustainability push

Business BureauBusiness

The 12th edition of IFAT India, the country’s largest trade fair for water, sewage, solid waste, and recycling solutions, concluded in Mumbai with record-breaking participation and a strong emphasis on sustainable innovation. Held from October 14–16 at the Bombay Exhibition Centre, the event drew over 18,000 visitors and 560 exhibitors from more than 30 countries across 45,000 sqm of exhibition space. Organised by Messe Muenchen India, IFAT India 2025 showcased cutting-edge technologies such as Alfa Laval’s SG2-series centrifuges, Fornnax’s R-MAX3300 shredder, and Danfoss India’s new edge computing-based drives. Actor and UN Environment Goodwill Ambassador Dia Mirza inaugurated the fair, highlighting…

27 Oct

Silver prices extend losing streak!

Purbalee DuttaBusiness

Silver extended its losing trend on Monday, October 27, weighed down by a stronger US dollar and optimism over easing trade tensions between the US and China. On the Multi Commodity Exchange (MCX), Silver December futures dropped 0.57% to ₹1,46,625 per kg at 10:49 a.m., while Gold December futures declined 1.26% to ₹1,21,900 per 10 grams. As per the Indian Bullion Association (IBA), silver was quoted at ₹1,46,860 per kg (999 fine). Meanwhile, 24-carat gold stood at ₹1,22,770 per 10 grams, and 22-carat gold at ₹1,12,539. Despite recent softness, silver has remained resilient, maintaining levels above ₹1 lakh per kg…