Business - The Purbottar

01 Mar

Vodafone Idea gets GST demand order; stock downgrade over 3%, check full details

editorBusiness, News

Telecom operator Vodafone Idea (VIL) on Friday, February 28, said it has received a ₹16.73 crore Goods and Services Tax (GST) demand order from the Deputy Commissioner, Large Taxpayer Unit, West Bengal. The telco asserted it does not agree with the order and will take appropriate action for filing an appeal against the same. In a BSE filing on details of the order received by the company under the Central Goods and Services Tax Act, 2017, Vodafone Idea informed that the order was received on February 27, 2025. “Order passed under Section 73 of the Central Goods and Services Tax…

28 Feb

Bajaj Allianz Life becomes first insurer to launch Bima-ASBA facility

Business BureauBusiness

Bajaj Allianz Life has become the first insurer in India to go live with the Bima-Application Supported by Blocked Amount (Bima-ASBA) facility, aligning with the Insurance Regulatory and Development Authority of India’s (IRDAI) initiative to simplify premium payments and enhance policyholder convenience. Bima-ASBA allows customers to block a specified premium amount (up to ₹2 lakh) in their bank accounts via UPI’s One-Time Mandate (OTM). The funds remain in the customer’s account, earning interest, until the insurance company completes the underwriting process. If the policy is issued, the blocked amount is debited; otherwise, the funds are released within 14 days. Bajaj…

28 Feb

Sanofi India Q4 revenue, EBITDA rises; ₹117 final dividend recommended

editorBusiness, News

Sanofi India Limited (SIL) reported steady growth in Q4 2024, with revenue growing 9.7% year-on-year (YoY) to ₹514.9 crore, compared to ₹469.2 crore in the same quarter last year. EBITDA grew 18.8% year-on-year to ₹118.3 crore, from ₹99.6 crore. Operating margins also improved to 23%, compared to 21.2% in Q4 2023. However, the company's net profit declined 33.7% to ₹91.3 crore, from ₹137.7 crore a year ago. On the bright side, the board has recommended a final dividend of ₹117 per equity share of ₹10 face value, subject to shareholders' approval at the forthcoming Annual General Meeting. Sanofi India's recent…

27 Feb

Tata Tea Premium launches ‘Tata Tea Premium Care’ with natural ingredients

Business BureauBusiness

Tata Consumer Products Limited (TCPL) has unveiled Tata Tea Premium Care, a new premium tea variant infused with natural ingredients like Tulsi, Ginger, Brahmi, Elaichi, and Mulethi. This launch is part of TCPL’s commitment to premiumization and wellness, offering consumers a blend of strong chai with added health benefits. Designed for those who prefer kadak chai, Tata Tea Premium Care seamlessly blends taste and wellness. Puneet Das, President - Packaged Beverages (India & South Asia), TCPL, stated, “With Tata Tea Premium Care, we are elevating the everyday tea experience by incorporating the goodness of time-tested natural ingredients. As consumers become…

27 Feb

Tata Tea Gold brings a luxurious blend to Eastern India

Business BureauBusiness

Tata Tea Gold, a premium blend of Assam’s valley-grown teas and aromatic highland long leaves, is making waves among tea lovers in Eastern India. Expertly crafted by Tata Tea’s master blenders, this luxurious mix promises a perfect balance of rich taste and irresistible aroma. Positioned as an ideal choice for a refreshing start to the day or a rejuvenating break, Tata Tea Gold is designed to cater to discerning consumers who appreciate quality. The tea is available at ₹300 for a 500-gram pack, making it a premium yet accessible option for tea enthusiasts. In Guwahati, a key hub for the…

27 Feb

Flipkart strengthens Assam’s digital economy, empowers local entrepreneurs

Business BureauBusiness

E-commerce giant Flipkart is expanding its footprint in Assam by empowering local businesses, artisans, and entrepreneurs through digital platforms. At the Advantage Assam 2.0 Investment & Infrastructure Summit 2025, Flipkart reaffirmed its commitment to fostering economic growth and digital inclusion in the state. Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart Group, highlighted Assam’s strong entrepreneurial base and the state government’s efforts under Chief Minister Himanta Biswa Sarma’s leadership. “Flipkart remains dedicated to providing local businesses with technology, tools, and market access to scale their ventures while generating employment,” Kumar stated. With over 1 lakh sellers from Assam on its platform,…

27 Feb

Globe Textiles reports 53.7% profit surge, strengthens market position

Business BureauBusiness

Globe Textiles (India) Ltd. has posted an impressive financial performance for the third quarter ending December 31, 2024, with a 53.7% surge in net profit and a 46.2% increase in revenue year-over-year. The company's strategic acquisitions, market expansion, and focus on sustainability have driven its strong growth momentum. For Q3 FY24, revenue rose to ₹15,159.21 lakhs from ₹10,367.19 lakhs in the same period last year, while net profit increased to ₹291.42 lakhs from ₹189.55 lakhs. The nine-month revenue stood at ₹42,397.79 lakhs, a 20.8% increase, while net profit grew by 56.6% to ₹943.55 lakhs. A key driver of this success…

27 Feb

Zomato shares will surge 39% as it builds on accelerated commerce leadership, says Bernstein

editorBusiness, News

Brokerage firm Bernstein on Tuesday, February 25, said it is positive on Zomato and has projected a 39.2% upside on the stock from its previous close price. The brokerage has given Zomato an "outperform" rating and a price target of ₹310 per share, slightly higher than its recent peak of ₹304, thereby marking a 27% downside to Monday's close price. Bernstein said the competitive intensity of instant commerce has been a major point of debate given the ongoing land grab and marketing dollars in Zomato and its peers Swiggy and Zepto. However, unlike the pre-IPO mode, the brokerage believes the…

26 Feb

SMFG India Credit sets Guinness World Record for largest cattle welfare lesson

Business BureauBusiness

SMFG India Credit has achieved a Guinness World Record for the Largest Cattle Welfare Lesson (Multiple Venues) with 517 participants across six locations in India. This milestone was part of the company’s 7th edition of PashuVikas Day (PVD)—the country’s largest one-day cattle care camp—held in 500 locations across 16 states, benefiting approximately 1,50,000 cattle and 40,000 cattle owners. Pashu Vikas Day 2025, themed “MeraPashuMeraParivar,” underscored the crucial role of livestock in rural livelihoods. With nearly 70% of India’s rural population dependent on agriculture and related activities, SMFG India Credit’s initiative reinforced its commitment to financial inclusion and rural welfare. Over…

26 Feb

udaan records 70% growth in daily buyers, strengthens Kirana Commerce in 2024

Business BureauBusiness

udaan, India’s largest e-business-to-business (eB2B) platform, has reported significant growth in 2024, with a 70% increase in daily buyers and a 65% surge in revenue run rate. The platform delivered over 2.45 billion units of products, weighing more than 7 lakh metric tonnes, reinforcing its leadership in kirana commerce. The FMCG category witnessed an 85% year-on-year (YoY) growth, driven by a 50% increase in product orders by retailers. Private label brands saw an exceptional 250% growth in revenue run rate, reflecting rising demand for high-quality, value-driven products. Additionally, udaan deployed electric vehicles (EVs) in Bengaluru for last-mile delivery, marking a…