Business - The Purbottar

09 Nov

Bandhan Mutual Fund advocates for smarter spending with new festive campaign

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Bandhan Mutual Fund is redefining festive season habits with its new campaign, urging consumers to prioritize thoughtful investments over impulsive buys. While brands typically drive sales with festive deals, Bandhan Mutual Fund's latest video campaign takes a reflective approach, addressing post-festival realizations when buyers often reassess their purchases. Vishal Kapoor, CEO of Bandhan AMC, highlighted the campaign’s goal, stating, “The festive season often fuels consumerism, with discounts turning many items into ‘must-haves.’ Through this campaign, we aim to inspire consumers to think beyond instant gratification. The message, ‘Invest Karte Raho. Badhte Raho,’ aligns with our philosophy of continuous growth.” The…

08 Nov

News Corp reports 3% jump in first quarter revenue

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The news: News Corp. reported a 3% rise in first-quarter revenue, driven by expansion in book publishing, real estate services and Dow Jones segments.The company also announced that its Chief Financial Officer Suzanne Panuccio will step down from her position in January 2025 and will be replaced by Lavanya Chandrasekar.The figures: News Corp. posted first-quarter revenue of $2.58 billion, increase 3% from a year earlier.Net income during the quarter was $144 million, up $58 million from the year-ago period. Total segment EBITDA inflation 14% to $415 million from $364 million.Context: News Corp said revenue growth was driven by higher Australian…

08 Nov

Škoda Auto India launches Kylaq: A strategic leap into the compact SUV market

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Škoda Auto India has announced the upcoming launch of its all-new compact SUV, the Kylaq, set to premiere globally on November 6, 2024. This introduction marks a significant step in Škoda’s strategy to expand its footprint in India, particularly in the sub-4m SUV segment, which represents nearly 30% of the country’s car market. Designed with high localization, the Kylaq features modern aesthetics, advanced safety technology, and a 1.0 TSI engine, delivering impressive performance and efficiency. Piyush Arora, Managing Director and CEO of Škoda Auto Volkswagen India, stated, “Kylaq embodies our commitment to 'Make in India' while enhancing our portfolio.” The…

08 Nov

Bajaj Finserv AMC introduces ‘Consumption Fund’ to tap India’s growing consumer market

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Bajaj Finserv AMC has announced the launch of its latest offering, the Bajaj Finserv Consumption Fund, an open-ended equity scheme designed to capitalize on India’s evolving consumer market. The fund opens for subscription on 8th November and closes on 22nd November 2024. This scheme will focus on sectors driven by consumption megatrends, including FMCG, consumer durables, healthcare, realty, and telecom, with a benchmark tied to the Nifty India Consumption Total Return Index (TRI). Ganesh Mohan, CEO of Bajaj Finserv AMC, highlighted India’s rising income levels and urbanization as key factors driving this shift, positioning the fund to benefit from the…

08 Nov

Utkarsh Small Finance Bank launches first sustainability report, sets benchmark in green banking

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Utkarsh Small Finance Bank Limited (Utkarsh SFBL) has proudly released its inaugural Sustainability Report for FY 2023-24, titled “U-SUSTAIN,” marking a key step in the bank’s commitment to Environmental, Social, and Governance (ESG) practices. The report details strategic efforts in climate risk management, energy efficiency, waste reduction, and community-focused initiatives, demonstrating Utkarsh SFBL's dedication to sustainable banking. In the report, the bank highlights achievements across three ESG pillars: environmental initiatives, social impact, and robust governance. Environmentally, Utkarsh SFBL has implemented green technologies and efficient resource management. Social efforts include boosting financial inclusion and promoting diversity. Governance-wise, the bank ensures transparency…

08 Nov

Deloitte India launches Enterprise Growth Awards 2024 to spotlight evolving consumer trends in regional businesses

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Deloitte India has introduced the Enterprise Growth Awards 2024 (EGA 2024), a pioneering initiative aimed at recognizing the achievements of family-owned businesses, unicorns, and soonicorns across North, South, East, and West India. The awards will celebrate companies that not only excel in leadership and innovation but also respond effectively to shifting consumer trends in their respective markets. Open for participation, the EGA 2024 invites family-owned businesses with a turnover between INR 1,000 crore and INR 5,000 crore and over 26% promoter ownership, along with startups valued between US$500 million and US$1 billion. Key evaluation criteria include financial performance, innovation, and…

07 Nov

JSW MG Motor India expands Hector lineup with new 7-seater variants

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JSW MG Motor India has introduced two new 7-seater variants of the popular MG Hector, expanding the lineup of India’s first Internet SUV. The Hector Plus 7-Seater Select Pro and Smart Pro variants cater to customers seeking a premium and spacious SUV experience. The Select Pro features a 1.5L petrol engine with a CVT transmission, priced at INR 19,71,800, while the Smart Pro variant comes with a 2.0L diesel engine and a 6-speed manual transmission, priced at INR 20,64,800. "These new 7-seater variants emphasize our commitment to meeting the evolving needs of our customers while maintaining the quality and innovation…

07 Nov

Nissan Motor India registers strong sales in October, driven by high demand for new Magnite

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Nissan Motor India has posted impressive sales figures for October 2024, driven by the robust demand for the newly launched Nissan Magnite. The company registered a total of 5,570 wholesale dispatches for the month, marking a significant sales milestone during the festive season. Of the total, 2,449 units were exported, while 3,121 units were sold domestically. The launch of the new Magnite has sparked renewed enthusiasm among customers, highlighting Nissan’s commitment to quality and customer satisfaction. "We would like to thank our valued customers for their overwhelming response to the New Nissan Magnite this festive period. It’s inspiring to see…

07 Nov

Embassy of India in Riyadh celebrates recognition of classical languages

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The Embassy of India in Riyadh hosted a remarkable event to celebrate the conferment of classical language status to five Indian languages: Assamese, Bengali, Marathi, Pali, and Prakrit. The celebration was part of the week-long Pravasi Parichay 2024 and saw over 500 members of the Indian diaspora in attendance. In a video message, Minister of State for External Affairs Kirtivardhan Singh lauded the embassy's efforts to highlight the significance of classical languages. The event featured a 90-minute play that showcased the historical and cultural stories tied to the 11 classical languages of India, including Sanskrit, Telugu, Malayalam, Tamil, Kannada, and…

06 Nov

Abhay Prabhavana Museum inaugurates in Pune

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The Abhay Prabhavana Museum, arguably the largest “Museum of Ideas" dedicated to Jain philosophy and Indian heritage, has officially inaugurated amidst much anticipation and interest. Established by Abhay Firodia, Chairman of the Amar Prerana Trust, the museum represents a significant milestone in preserving and promoting India’s spiritual legacy. This landmark event drew esteemed dignitaries, scholars, and leaders who gathered to celebrate the museum’s mission: to instill a deeper understanding of Jain values, their crucial impact on the Indian value system, and its relevance in contemporary society. The inauguration was graced by the presence of Shri Nitin Gadkari, Union Minister, alongside…