Business - The Purbottar

23 Aug

Axis Mutual Fund announces Axis Consumption Fund to capitalize on India’s growing consumer market

Business BureauBusiness

Axis Mutual Fund has announced the launch of its Axis Consumption Fund, a thematic equity scheme targeting India's burgeoning consumption sector. With the New Fund Offer (NFO) open from August 23 to September 6, 2024, the fund offers investors an opportunity to tap into India’s rapidly evolving consumer market, driven by rising incomes, urbanization, and a growing middle class. The Axis Consumption Fund, benchmarked against the NIFTY India Consumption TRI, will be managed by a team of experienced fund managers, including Mr. Hitesh Das, Mr. Shreyash Devalkar, and Ms. Krishnaa Narayan. The fund seeks to build a diversified portfolio encompassing…

23 Aug

CEAT Cricket Rating Awards honour global cricketing excellence in 26th edition

Business BureauBusiness

CEAT, India’s premier tyre manufacturer, hosted the 26th edition of the CEAT Cricket Rating (CCR) Awards, celebrating cricketing brilliance across the globe. The prestigious event, held in Mumbai, brought together cricket legends and enthusiasts to honor outstanding performances in international and domestic cricket. Rohit Sharma was named CEAT Men’s International Cricketer of the Year, while Deepti Sharma was awarded CEAT Women’s Indian Bowler of the Year. Legends like Virat Kohli, who was recognized as Men’s ODI Batter of the Year, and Rahul Dravid, who received the Lifetime Achievement Award, highlighted the evening. The awards also acknowledged emerging talents, such as…

22 Aug

super.money launches UPI app with focus on credit; hits 10 million transactions in beta

Business BureauBusiness

super.money, a credit-first UPI service platform backed by Flipkart Group, has officially launched its app after a successful beta phase. During the beta testing, the app garnered nearly one million downloads and facilitated over 10 million transactions, reflecting significant user adoption. The platform’s initial offering includes UPI transactions through RuPay cards and bank account linkage. super.money also completed testing of its innovative "credit on UPI" solution and initiated a waitlist for users eager to access this feature. This solution, featuring a RuPay credit card operating like an interest-bearing wallet on UPI, is being touted as a global first. super.money aims…

22 Aug

Škoda Auto India announces ‘Kylaq’ as new compact SUV, names derived from national campaign

Business BureauBusiness

Škoda Auto India has officially named its forthcoming compact SUV ‘Kylaq,’ marking a historic moment as the name was chosen through the country’s first-ever national ‘Name Your Škoda’ campaign. This initiative, which began in February, engaged over 200,000 participants, reflecting a strong public interest and involvement in the brand's major launch. The winning name, Kylaq, emerged from a shortlist of 10 finalists and aligns with Škoda’s tradition of using names that start with ‘K’ and end with ‘Q.’ Derived from the Sanskrit word for crystal and inspired by Mt. Kailash, Kylaq symbolizes clarity and strength, embodying the SUV's pristine qualities.…

22 Aug

Bandhan Mutual Fund announces new BSE Healthcare Index Fund with NFO launch

Business BureauBusiness

Bandhan Mutual Fund has announced the launch of its new investment vehicle, the Bandhan BSE Healthcare Index Fund. This open-ended mutual fund aims to provide investors with targeted exposure to India's burgeoning healthcare sector by tracking the BSE Healthcare Index, which includes stocks from pharmaceuticals, hospitals, diagnostics, biotechnology, and medical equipment industries. The New Fund Offer (NFO) for the Bandhan BSE Healthcare Index Fund opens today, August 21, 2024, and will remain available until September 3, 2024. Investors can subscribe through licensed mutual fund distributors, online platforms, or directly via the Bandhan Mutual Fund website at https://bandhanmutual.com/nfo/bandhan-bse-healthcare-index-fund/. Vishal Kapoor, CEO…

22 Aug

NESFB’s forward-thinking recruitment: 30+ branch heads to drive financial mobility across Northeast

Business BureauBusiness

North East Small Finance Bank (NESFB) is gearing up for a dynamic expansion with a major recruitment drive, aiming to hire over 30 Branch Heads throughout the Northeast. This ambitious initiative will enhance NESFB’s presence in Assam, North Bengal, Arunachal Pradesh, and Meghalaya, marking a significant step towards revolutionizing financial mobility in the region. This recruitment effort is not merely about increasing headcount but is a strategic move to lead the evolution of regional banking. NESFB seeks visionary banking professionals who are ready to embrace and drive forward-thinking financial solutions. The application process is designed to be user-friendly, with candidates…

22 Aug

Paytm share price upgrade over 5%, Zomato shares rise 2% on ticketing business deal

editorBusiness, News

Paytm share price surged over 5% after the fintech giant announced the sale of its entertainment and ticketing business to food delivery app Zomato for ₹2,048 crore. Paytm shares rose 5.47% to ₹604.45 on BSE, while Zomato shares also rose 2.71% to ₹267.00.Fintech giant Paytm's parent company, One97 Communications, entered into a definitive agreement for the sale of its entertainment ticketing business, which includes movies, sports and event ticketing, to Zomato for ₹2,048 crore.Paytm's movie and event tickets will remain available on its app during the transition period for the next 12 months. After that, users will be redirected to…

21 Aug

Due to investor enthusiasm, Ola Electric shares growth by 90%, market cap crossed $ 7 billion

editorBusiness, News

Ola Electric Mobility Ltd. has seen its shares surge nearly 90% within two weeks, taking the company's market capitalization to more than $7 billion. Bloomberg reported that this rapid growth vindicated founder Bhavish Aggarwal's decision to take the company public, despite initial doubts about its valuation.The company's initial public offering (IPO), the largest in India in the last two years, attracted wide interest from investors. The surge in the share price has allowed Aggarwal to reach his target valuation earlier than anticipated, driven by strong demand in India's thriving IPO market. Ola Electric, India's largest e-scooter maker, had gone ahead…

21 Aug

MG Windsor teases ‘Infinity View Glass Roof’, redefines CUV luxury

Business BureauBusiness

MG Motor India has teased a groundbreaking feature of its upcoming MG Windsor, the country’s first Intelligent Crossover Utility Vehicle (CUV). In a newly released video, the brand showcased the 'Infinity View Glass Roof,' a first-in-segment innovation that promises an unparalleled driving experience. This expansive glass roof seamlessly integrates the vehicle’s interior with the outdoors, offering passengers a panoramic and immersive view, whether navigating city streets or scenic countryside. The MG Windsor’s Infinity View Glass Roof is more than just a visual treat—it enhances the sense of space and airiness inside the cabin, making every journey a luxurious experience. This…

21 Aug

Femina Miss India 2024 announces state winners, gears up for grand finale

Business BureauBusiness

In a spectacular announcement marking its diamond jubilee, Femina Miss India 2024 has revealed the state winners who will vie for the prestigious title at the grand finale. Co-powered by Tops and Rajnigandha Pearls, this historic 60th edition of the pageant is set to spotlight India's emerging beauty icons and provide them a platform to represent the country at the 73rd Miss World competition. The nationwide selection process for the pageant was extensive, spanning five months and encompassing online screenings and regional auditions in six major cities: Delhi-NCR, Kolkata, Guwahati, Bengaluru, Mumbai, and more. Thousands of contestants competed for their…