Business - The Purbottar

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…

17 Feb

India aims to become global care capital with NSDC International’s skilling initiatives

Business BureauBusiness

India’s healthcare sector is poised for transformation, with NSDC International spearheading efforts to build a globally competent care workforce. Speaking at the summit “Transforming the Future of the Skilled Workforce in the Care Sector” in Chandigarh, Shri V.K. Paul, Member (Health), NITI Aayog, stressed the need for advanced skilling programs to meet rising national and global healthcare demands. “Private sector collaboration and strong industry-academia partnerships are essential to bridge the skill gap,” Paul said. “With evolving curriculum and enhanced training programs, India can enhance its healthcare skilling ecosystem and become a global leader in care workforce supply.” The event saw…

17 Feb

NSDC CEO urges youth to opt for ethical migration, highlights skilling initiatives

Business BureauBusiness

NSDC CEO and MD Shri Ved Mani Tiwari has urged Indian youth to leverage NSDC International’s skilling initiatives for ethical migration instead of risking lives through illegal “donkey routes.” Emphasizing the importance of ethical migration, Tiwari highlighted the organization’s efforts, supported by the central government, to streamline job opportunities abroad through collaborations with various international governments. Tiwari revealed that NSDC International has established skill assessment centers for 100 trades across India to certify candidates ready for employment in countries like Israel, Japan, and Germany. “The world values skilled professionals, and the right training can open sustainable, high-paying careers abroad,” he…

17 Feb

Essencemediacom secures media mandate for Godrej Consumer Products

Business BureauBusiness

Essencemediacom has won the media mandate for Godrej Consumer Products Ltd (GCPL), one of India’s leading FMCG companies. The agency will manage GCPL’s media strategy, planning, buying, and execution across traditional and digital platforms in the Indian market, starting April 2025. The mandate was secured after an intense four-month pitch. Essencemediacom will take over from Madison World, GCPL’s media partner for over two decades. Harshdeep Chhabra, Head of Global Media at GCPL, expressed confidence in Essencemediacom’s ability to drive innovation and volume growth. “Essencemediacom’s experience in traditional and digital media will help us expand into new categories and enhance our…

17 Feb

GlaxoSmithKline Pharma Q3FY25: Net profit upgrade 400% to Rs 228.58 crore

editorBusiness, News

GlaxoSmithKline (GSK) Pharmaceuticals on Friday announced a 402 per cent year-on-year (Y-o-Y) increase in consolidated net profit for the December quarter (Q3 FY25) to Rs 228.58 crore, up from Rs 45.49 crore in the same period last year. The company’s revenue from operations rose to Rs 946.36 crore, a 17.5 per cent Y-o-Y increase from Rs 804.98 crore in Q3 FY24. Sequentially, the company’s net profit fell 8.08 per cent, whereas revenue declined 5.4 per cent, from Rs 248.68 crore and Rs 1,000.05 crore, respectively, reported in Q2 FY25. The performance is attributed to the company's strong growth across key product portfolios. GSK…

15 Feb

NSDC announces expansion with 50 new future skill centres and 10 international academies

Business BureauBusiness

The National Skill Development Corporation (NSDC) has unveiled an ambitious plan to expand its skilling footprint with the establishment of 50 new Future Skill Centres and 10 International Academies across India. The announcement was made by NSDC CEO ShriVed Mani Tiwari at the Annual Press Conference. “The number of industry-aligned programs will rise beyond 300, covering 12 emerging technologies, with a goal to train over 2 lakh candidates,” Tiwari stated. Partnerships with 33 global corporations and 11 premier institutions have already led to the creation of 21 Future Skills Centres and the training of over 27,000 candidates. NSDC also plans…

15 Feb

Bandhan Mutual Fund launches Nifty Next 50 Index Fund

Business BureauBusiness

Bandhan Mutual Fund has launched its Bandhan Nifty Next 50 Index Fund, an open-ended scheme tracking the Nifty Next 50 Index. This index comprises the top 50 companies ranked just after the Nifty 50, representing high-growth potential within India’s top 100 listed stocks. The New Fund Offer (NFO) will open on February 13 and close on February 25, 2025. Investors can apply through mutual fund distributors, online platforms, or the company’s website. Vishal Kapoor, CEO of Bandhan AMC, highlighted the fund’s potential, noting, “The Nifty Next 50 Index offers exposure to well-established companies still in their high-growth phase. Past trends…

15 Feb

INDIAWOOD 2025 to showcase 25 years of innovation in woodworking and furniture manufacturing

Sonakshi SarkarBusiness

INDIAWOOD 2025, one of the world’s largest woodworking and furniture manufacturing exhibitions, will be held from March 6-9, 2025, at the India Expo Mart & Centre, Greater Noida. Celebrating its 25th anniversary, the event will highlight India’s rapid growth as a global leader in woodworking innovation and furniture exports. INDIAWOOD has played a crucial role in India’s ascent as one of the top five global furniture producers, with exports projected to grow by 20% annually. Frederik Meyer, President of Eumabois, praised India’s craftsmanship and expressed enthusiasm for the event, noting that European companies are keen to share innovations in sustainability…

15 Feb

Edelweiss study highlights financial insecurity among India’s Sandwich Generation

Business BureauBusiness

A new study by Edelweiss Life Insurance reveals that 60% of India’s Sandwich Generation—aged 35 to 54—feel financially unprepared for the future. The generation, balancing support for ageing parents and growing children, faces ongoing financial stress, with many feeling that saving or investing is never enough. The study, conducted with YouGov across 12 cities and 4,005 respondents, highlighted that financial decisions are driven by family needs, including healthcare and education. However, premature liquidation of investments for both essential and non-critical needs, such as vacations and festive spending, is common. Sumit Rai, MD & CEO of Edelweiss Life Insurance, said, “This…