Business - The Purbottar

19 Feb

Swiggy shares jump 7% during intraday

editorBusiness, News

Shares of foodtech giant Swiggy jumped nearly 7% to Rs 370.90 during the intraday trading session on the BSE today (February 19).The surge in its share price coincided with a surge in the broader market. The Sensex is up 0.068% at 76,018.91, while the Nifty is volatile and is trading 0.020% lower at 22,940.65 at 11:11 am.With the surge in Swiggy's share price, its market capitalisation reached Rs 83,576 crore at the time of writing and over 1 crore volumes had been traded by then.The stock has closed in the green in three of the last five sessions. Swiggy had…

19 Feb

AirAsia launches 15 million FREE seats sale for ASEAN destinations

Business BureauBusiness

AirAsia has launched its highly anticipated FREE* Seats sale, offering up to 15 million seats across 130 destinations. The airline aims to strengthen affordable connectivity from India to ASEAN destinations like Malaysia and Thailand. Travelers can fly from Visakhapatnam to Kuala Lumpur, Tiruchirappalli and Guwahati to Bangkok, or Kolkata to Phuket with fares starting at INR 6,599 one-way. Additional options include seamless connections to Singapore, Krabi, and Kota Kinabalu via AirAsia’s Fly-Thru service from Kuala Lumpur and Bangkok. Amanda Woo, Group Chief Commercial Officer of AirAsia Aviation Group, emphasized the airline’s mission to expand its network: “We aim to enhance…

19 Feb

KBC Global Ltd approves bonus issue, renaming and expands global reach with major investments

Business BureauBusiness

The board of directors of KBC Global Ltd (BSE: 541161), a prominent player in the construction and real estate sector, announced significant corporate moves aimed at boosting business operations and reducing debt. The company has approved a 1:1 bonus equity share issue, pending shareholder approval, which will be funded from its free reserves and capital accounts, totaling Rs. 261.43 crore. This is expected to double the company's share capital to Rs. 522.87 crore. Additionally, KBC Global Ltd will be renamed Dharan Infra-EPC Ltd, aligning with its new strategic focus. The company’s order book exceeds Rs. 260 crore, with a market…

19 Feb

Marico Innovation Foundation Celebrates 10th Edition of Indian Innovation Icons

Business BureauBusiness

The Marico Innovation Foundation (MIF) is set to host the 10th edition of Indian Innovation Icons on March 6, 2025, at the Jio World Convention Centre. Formerly known as the Innovation for India Awards, this rebranded event will honor seven groundbreaking innovations selected from over 1,000 entries across various sectors, including telecommunication and education. The initiative has been pivotal in recognizing high-potential innovations for nearly two decades, contributing to social, environmental, and economic impacts. Winners will share their journeys through TED-style talks, offering insights into their visionary ideas. Harsh Mariwala, MIF Founder, emphasized the growth of India's innovation ecosystem, while…

19 Feb

Hindware introduces Imelda BLDC Chimney: The ultimate solution for a smoke-free kitchen

Business BureauBusiness

Hindware Smart Appliances has introduced the Imelda BLDC Chimney, a revolutionary kitchen appliance designed to offer a clean and smoke-free cooking experience. Featuring an impressive suction power of 2000 m³/hr, the chimney efficiently eliminates smoke, odors, and cooking fumes, ensuring a fresh atmosphere in your kitchen. Powered by energy-efficient BLDC technology, it provides excellent ventilation without compromising on energy consumption. The Imelda Chimney boasts a range of advanced features including 8+1 speed settings and a Turbo Boost function, allowing users to customize suction power based on their cooking requirements. Its thermal auto-clean technology simplifies maintenance, while the motion sensor control…

19 Feb

Assam CM apprises Home Minister Amit Shah of preparations for mega business summit in state

editorAssam, Business

Assam Chief Minister Himanta Biswa Sarma met Union Home Minister Amit Shah on Tuesday and apprised him of the measures taken to ensure the success of the upcoming mega business summit in Guwahati. The two-day "Advantage Assam 2.0" summit will be inaugurated by Prime Minister Narendra Modi on February 25. The chief minister briefed the home minister about the steps taken by his government to make the business summit a success in terms of participation, both domestically and internationally, as well as attracting investments in key sectors, an official release said.

18 Feb

Sterlite Power commissions Nangalbibra-Bongaigaon line, boosts north-east energy infrastructure

Business BureauBusiness

Sterlite Power has successfully commissioned the Nangalbibra-Bongaigaon transmission line, a 400kV D/C Inter-State Transmission System (ISTS) project aimed at enhancing energy infrastructure across North-East India. The project ensures reliable electricity supply in Meghalaya and facilitates power transfer from Assam. Spanning 300 circuit kilometers, the project includes a greenfield substation at Nangalbibra, Meghalaya, with a 300 MW transformation capacity and a 123 km transmission line crossing the Brahmaputra River. Additionally, a 132kV D/C transmission line links Hatsinghmari, Assam, to Ampati, Meghalaya, providing an additional power source. The substation also enables future 400kV expansions to meet rising load demands. Mr. Arun Sharma,…

18 Feb

Fenesta expands retail presence with new showroom in Guwahati

Business BureauBusiness

Fenesta, India’s largest windows and doors brand, has further strengthened its retail footprint by opening an exclusive showroom, The Home Story, at Saraswati Tower, Beside Beharbari Flyover, N.H.-37, Guwahati. The showroom will feature a wide range of aluminum windows, uPVC windows and doors, and solid panel doors. Speaking at the launch, Mr. Saket Jain, Business Head of Fenesta, said, “Every new showroom reflects our customers' trust and our dedication to delivering quality products. These stores provide an interactive experience for customers to see and feel the products before making a decision.” Fenesta’s products are popular for their noise and rain…

18 Feb

DSP Mutual Fund launches Nifty Private Bank Index Fund: A strategic bet on India’s private banking sector

Business BureauBusiness

DSP Mutual Fund has launched the DSP Nifty Private Bank Index Fund, an open-ended scheme designed to track the Nifty Private Bank Index. This fund offers investors a concentrated exposure to India’s largest private banks, including the four dominant players that make up around 80% of the index. The move reflects DSP's belief that larger banks, due to their customer trust, access to capital, and economies of scale, have a distinct edge in maintaining growth and stability. The Indian private banking sector has witnessed significant growth, with its market share doubling over the last two decades. Despite this, the Nifty…

18 Feb

Gold imports rise over 40% to $2.68 billion in January

editorBusiness, News

Overall, imports rose 32 percent to USD 50 billion from April to January this fiscal, as against USD 37.85 billion in the same period last fiscal. The rise in imports also reflects strong investor confidence in the precious metal as a safe-haven asset. Additional factors include asset diversification in gold amid global uncertainties, rising demand from banks and reduction in customs duty. The price of the yellow metal has risen 11 percent this year, reaching Rs 88,200 for every 10 grams in the national capital. India's gold imports, impacting the country's current account deficit (CAD), rose 30 percent to USD…