Business - The Purbottar

26 Sep

Tata Tea Gold celebrates Durga Pujo with Kumartuli artistry

Business BureauBusiness

Tata Tea Gold, West Bengal’s leading tea brand, is celebrating Durga Pujo with a unique twist, showcasing the artistry of Kumartuli through limited edition festive packs. The initiative, themed "Kumartuli Art is the Heart of Bengal," features a five-pack series that embodies the spirit of the festival across its five days: Dhaki, Shankho Dhwani, Ashtami Pujarin, Dhunuchi dance, and Sindoor Khela. Each pack contains meticulously sculpted figurines, enhanced by a QR code that activates an augmented reality experience, allowing users to project these elements into their homes. In Kharagpur, local tea shops are buzzing with excitement as residents embrace the…

26 Sep

Major Milestone: Vodafone Idea Announces $3.6 Billion Investment in Network Growth

Business BureauBusiness

Vodafone Idea Limited (VIL) has successfully concluded a major $3.6 billion (~Rs. 300 billion) deal with global network leaders Nokia, Ericsson, and Samsung, marking its largest capital expenditure investment to date. This three-year agreement is a critical component of VIL's broader $6.6 billion capex plan aimed at expanding 4G population coverage to 1.2 billion and introducing 5G services in key markets. CEO Akshaya Moondra highlighted VIL’s commitment to cutting-edge technology, saying, “This investment cycle marks a new era for VIL as we embark on a smart turnaround to capitalize on industry growth.” The equipment from these long-term partners will enable…

25 Sep

Ola Electric shares grow 3%, Bernstein highlights strong growth prospects

editorBusiness, News

Shares of Ola Electric Mobility rallied over 3 per cent to Rs 107.5 in morning trade on September 25 after international brokerage firm Bernstein suggested that the company is extending its lead in the electric two-wheeler (EV 2W) segment and outpacing rivals in profitability.The report shows that Ola Electric not only boasts the highest gross margins among its competitors but is also inching closer to EBITDA level profitability, underlining the strong growth momentum of the company.Ola Electric has significantly improved its path to profitability, reporting an EBITDA margin of -2 per cent, outperforming rivals such as TVS (-7.9 per cent),…

25 Sep

Hulladek Recycling hosts e-waste management summit 2024 in Guwahati

Business BureauBusiness

Hulladek Recycling Pvt Ltd, in collaboration with the Pollution Control Board, Assam, hosted the E-Waste Management Summit 2024 in Guwahati, aimed at addressing critical e-waste challenges in North Eastern India. The summit gathered key stakeholders, including government officials, corporate leaders, and environmental activists, to discuss strategies for effective e-waste management and recycling. Shri. Arup Kumar Misra, Chairman of the Pollution Control Board, emphasized the significance of sustainable waste management initiatives, stating, “This summit marks a significant step towards achieving effective e-waste management in the North Eastern states.” Mr. Nandan Mall, Managing Director of Hulladek, highlighted the company’s commitment to environmentally…

25 Sep

Jaipur Rugs launches Rug Utsav 2024 with ambitious Rs 50 crore target

Business BureauBusiness

Jaipur Rugs, a leader in handcrafted rug production, is set to launch "Rug Utsav," an annual month-long festival celebrating India’s rich textile heritage. This year’s event aims to surpass last year's remarkable ₹15 crore in sales, targeting ₹50 crore through enhanced outreach across India. Visitors can explore over 5,000 exquisite rugs, including exclusive deals on the innovative "Manchaha" collection.The festival not only showcases the intricate craftsmanship of artisans but also offers unique experiences, such as weaving workshops led by master craftsmen. As Jaipur Rugs continues to expand its global presence, with 17 stores in key cities, the Kolkata market is…

25 Sep

LIC Mutual Fund launches LIC MF manufacturing fund to tap growth potential

Business BureauBusiness

LIC Mutual Fund has announced the launch of its LIC MF Manufacturing Fund, an open-ended equity scheme focused on the manufacturing sector. The New Fund Offer (NFO) is now open for subscription from September 20 to October 4, 2024, with units allotted on October 11, 2024. Managed by Mr. Yogesh Patil and Mr. Mahesh Bendre, the scheme aims to achieve long-term capital appreciation by investing in equity instruments related to various manufacturing industries, including automobiles, pharmaceuticals, and metals. Mr. R K Jha, Managing Director & CEO of LIC Mutual Fund, highlighted that India's GDP growth, urbanization, and government initiatives like…

25 Sep

New program offers lifeline to Life Insurance policyholders

Business BureauBusiness

To prevent the common practice of surrendering life insurance policies during financial crises, ACESO has launched its innovative Assignment of Life Insurance Policies (ALIP) program. This initiative allows policyholders to access their full surrender value while retaining life cover benefits, ensuring financial security for themselves and their families. Many policyholders, facing monetary difficulties, often surrender their policies after years of premium payments, leaving their nominees with nothing in case of their untimely death. ALIP addresses this issue by enabling policyholders to maintain their life insurance coverage even after accessing funds. Founded in 2018, ACESO has already facilitated over Rs 400…

24 Sep

Gulf Oil revives ‘Chai-Pakoda’ ride in Guwahati, unite bikers in celebration

Business BureauBusiness

Gulf Oil Lubricants India Limited returns to Guwahati with the second annual 'Chai-Pakoda' Ride, enhancing its partnership with India Bike Week (IBW) 2024. This year's event, held on September 23, attracted over 100 bikers from various backgrounds who embarked on a thrilling 32-kilometer journey from the Assam Public Service Commission Office to PRP Valley, Chandrapur. The ride not only celebrated motorcycling camaraderie but also prioritized safety. Participants attended a 'safety riding' session before the ride, led by IBW Marshals, with Gulf Oil providing fluorescent safety jackets to all riders. The event culminated in a fun push-up and burpee challenge, energizing…

24 Sep

U.S. Polo Assn. announces royal collection in collaboration with Sawai Padmanabh Singh

Business BureauBusiness

In an exclusive collaboration, U.S. Polo Assn. has partnered with His Highness Sawai Padmanabh Singh of Jaipur to launch the U.S. Polo Assn. x His Highness Sawai Padmanabh Singh Collection. This premium capsule collection, set to debut in Autumn-Winter 2024, blends Jaipur’s royal heritage with modern sports fashion. Featuring luxurious fabrics and intricate Zardosi detailing, the line reflects the regal essence of Jaipur, inspired by the City Palace and the iconic Panchranga flag. The collection is expected to attract significant attention in Kolkata, known for its discerning taste in fashion. The fusion of cultural heritage and contemporary elegance is anticipated…

24 Sep

Home loan disbursements lapse 9% in June quarter: Report

editorBusiness, News

Home loan originations declined 9 per cent in the June quarter, according to a report released on Monday.Credit information company TransUnion CIBIL said in a report that home loan volumes in value terms were at par with the same period a year ago.The report said outstanding amounts on home loans grew by only 14 per cent during the quarter, making it the slowest growth among all categories that constitute retail loans.Interestingly, the decline in principal volumes and sluggish growth in outstanding balances have come at a time when the incidence of loan defaults has declined during the quarter, the report…