Business - The Purbottar

02 Sep

Dynamic Services & Security Limited to acquire Bharat Battery for Rs 45 crore; stock hits upper circuit

Business BureauBusiness

Dynamic Services & Security Limited (DSSL) has secured a deal to acquire Bharat Battery MFG Co Private Limited for ₹45 crore, sending its stock to the upper circuit in today’s trading session. The acquisition, formalized through a Memorandum of Understanding (MoU), is anticipated to significantly boost DSSL's earnings per share (EPS) starting from the current financial year. Bharat Battery MFG Co, with a legacy since 1941, posted a revenue of ₹22.82 crore and a Profit after Tax of ₹4.78 crore for FY 2023-2024. The company, an approved supplier for Indian Railways, enhances DSSL’s strategic portfolio with its established market presence.…

02 Sep

Grand Shopsy Mela kicks off with unbeatable festive deals and prizes

Business BureauBusiness

Shopsy by Flipkart has launched its much-anticipated Grand Shopsy Mela, transforming its platform into a vibrant virtual fair. Running from September 1 to 8, this sale offers over 50 lakh products priced under Rs. 199, capturing the essence of traditional Indian melas while providing an immersive shopping experience. This year’s event features an expanded range of 150 categories, including fashion, beauty, home, mobiles, and large electronics, more than double last year’s offerings. Customers can enjoy limited-time deals starting at just Re. 1 and stand a chance to win grand prizes worth Rs. 1 lakh. Engaging activities like treasure hunts and…

31 Aug

Tata AIA’s Sampoorna Raksha promise: The future of term insurance announced

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Tata AIA Life Insurance is setting new standards in term insurance with the launch of Sampoorna Raksha Promise, a groundbreaking plan designed to address the evolving needs of today’s policyholders. This innovative product offers a host of advanced features that blend financial security with modern flexibility. At the heart of Sampoorna Raksha Promise is its commitment to immediate relief—policyholders can receive an instant payout of INR 3 lakhs upon claim notification, ensuring that families have access to critical funds when needed most. For those diagnosed with a terminal illness, the plan accelerates 50% of the base sum assured, waiving future…

30 Aug

ICICI Prudential Life Insurance achieves Rs 3 lakh crore AUM

Business BureauBusiness

ICICI Prudential Life Insurance Co. Ltd., has achieved a significant milestone of crossing `3lakh crore in Assets Under Management (AUM). The Company’s AUM as of July 31, 2024, stood at ` 3.14 lakh crore. Mr. Anup Bagchi, MD & CEO, ICICI Prudential Life Insurance, said, “We are delighted to have crossed the milestone of ` 3 lakh crore in assets under management. This signifies customers preference for our products and their trust in us to enable them to achieve their long-term financial goals. Our approach of simplifying products and processes has been one of the factors driving the growth in…

29 Aug

Bikaji report it is ‘not for sale’ amid investor interest in Indian snacks market

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Indian snacks maker Bikaji Foods is "not for sale" and is instead aiming to capitalize on the growing appetite for gourmet brands in the world's most populous country, a top executive told Reuters.The Indian salty snacks sector has grown rapidly in recent years as consumers increasingly splurge on packaged foods.“Bikaji is not for sale. No matter what price anyone offers, there are few things that are not for sale,” Chief Operating Officer Manoj Verma had said that earlier this month, without disclosing whether the company had received buyout offers.His comments came after India's Tata Group and a consortium including Blackstone…

29 Aug

Travels & Rentals Limited launches Rs 1,224 crore IPO to accelerate growth

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Travels & Rentals Limited has announced its Initial Public Offering (IPO) set to begin on August 29, 2024. The IPO aims to raise ₹1,224 lakhs by issuing 30,60,000 equity shares at a price of ₹40 each. The offering will close on September 2, 2024, with shares expected to debut on the SME platform of BSE Limited on September 5, 2024. Finshore Management Services Ltd. is leading the issue. Established in 1996, Travels & Rentals Limited has established itself as a key player in the travel and tourism industry, offering services including air ticketing, hotel reservations, and customized tours. Since 2010,…

29 Aug

Skill outweighs chance in fantasy sports, new study finds

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A groundbreaking report from the Indian Institute of Management, Bangalore (IIMB) and SP Jain Institute of Management & Research reveals that skill plays a predominant role over chance in fantasy sports contests. The joint study, titled “Decision Support System for Policy-Making: Quantifying Skill and Chance in Daily Fantasy Sports (DFS)”, presents compelling evidence that user skill is a more significant determinant of success than random chance. Led by Professor U Dinesh Kumar, this research highlights the substantial impact of experience, past performance, and recent participation on a player’s success. By analyzing data from 2,951 matches and 160,000 contests, the study…

29 Aug

ITI AMC announces new large & mid cap fund to tap into India’s growth potential

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ITI Asset Management Company Ltd (ITI AMC) has launched its ITI Large & Mid Cap Fund, an open-ended scheme aimed at capitalizing on India's economic expansion. The fund, which opens for subscription today and will close on September 4, 2024, will primarily invest in equity and equity-related securities of the top 250 companies driving India’s growth story. Managed by seasoned equity fund managers Vishal Jajoo and Rohan Korde, who bring over 13 years of experience with ITI Mutual Fund, this scheme targets long-term capital appreciation. The fund will focus on companies benefiting from urbanization, rising income levels, and increased discretionary…

29 Aug

MG announces India’s first intelligent CUV, the Windsor, featuring 15.6-inch GRANDVIEW touch display

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JSW MG Motor India has introduced the MG Windsor, heralded as India's first Intelligent Crossover Utility Vehicle (CUV). Unveiled on August 26, 2024, the Windsor boasts the segment’s largest 15.6-inch 'GRANDVIEW Touch Display,' redefining in-car experiences by transforming the vehicle into an entertainment, gaming, and learning hub when stationary. Inspired by the architectural grandeur of the UK's Windsor Castle, the MG Windsor combines meticulous craftsmanship with luxury. The 15.6-inch touchscreen enhances both functionality and aesthetics, perfectly complementing the Windsor’s sophisticated design. This intelligent CUV blends aerodynamic design with spacious interiors, catering to the evolving demands of Indian consumers, whether for…

29 Aug

Mahindra announces advanced rotavator technology to revolutionize Indian farming

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For generations, Indian farmers have toiled in the fields, wrestling with the land to prepare it for planting. Now, Mahindra Farm Equipment Sector, the world’s largest tractor manufacturer by volume, is stepping in to make that task easier with its newly launched range of rotavators. Designed to handle every crop and soil type found across India, these machines aim to transform the lives of farmers by making land preparation quicker, easier, and more efficient. Built at Mahindra’s facility in Nabha, Punjab, these rotavators are as tough as the farmers who use them. Available in models ranging from heavy to light…