Business - The Purbottar

16 Aug

State Bank of India inflation MCLR by 10 bps for all tenors

editorBusiness, News

State Bank of India (SBI) has increased the marginal cost of lending rate (MCLR) by 10 basis points (bps), effective from today. The MCLR hike by SBI comes days after the Reserve Bank of India (RBI) left the repo rate unchanged at 6.5 percent. Overnight and one month MCLR have been increased to 8.2 percent and 8.45 percent respectively. The revised rate for six-month MCLR is 8.85 percent, which was earlier 8.75 percent. The bank will charge MCLR of 8.95 percent on one year loan. The revised MCLR on loans with tenures of two years and three years is 9.05…

16 Aug

NSE’s Independence Day message: Strengthening nation-building through capital markets

Business BureauBusiness

On the occasion of India's 78th Independence Day, Shri Ashishkumar Chauhan, Managing Director and CEO of the National Stock Exchange (NSE), reinforced the organization's dedication to economic growth and investor protection. Chauhan's remarks highlighted the NSE's commitment to building a robust and inclusive financial ecosystem in India. Chauhan stated, “On the occasion of India’s 78th Independence Day, let us honour the sacrifices of our freedom fighters who envisioned a progressive and prosperous country. As a catalyst for wealth creation in India in addition to being a front-line regulator, we are committed to building a stronger and more inclusive nation. NSE…

14 Aug

Shopsy launches ‘Rakhi Store’ with exclusive offers for Raksha Bandhan celebrations

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Shopsy has launched its much-anticipated ‘Rakhi Store,’ a special initiative running from July 13th to August 21st, to celebrate Raksha Bandhan. Under the theme ‘Iss Raksha Bandhan, Shopsy Bharat ki har pasand laya hai,’ the store promises a diverse selection of over 10,000 Rakhi styles, catering to various tastes across India. The Rakhi Store offers everything from traditional to contemporary designs, complemented by exclusive gift combos, fashion items, and chocolates, starting at just ₹49. Shopsy’s focus on value-driven, stylish shopping caters to millennials and Gen Z in Tier 2 and Tier 3 cities, providing a seamless and affordable experience. The…

14 Aug

Vi rolls out Independence Day offers with extra data and OTT perks for prepaid customers

Business BureauBusiness

Telecom giant Vi (Vodafone Idea) has introduced a series of exclusive Independence Day offers for its prepaid customers, enhancing value with additional data and OTT subscriptions. The limited-time offers, valid from August 13 to August 28, 2024, are accessible only through the Vi App. Key highlights of the promotion include 30GB to 50GB of extra high-speed data for customers opting for half-yearly or annual recharge packs. The extra data remains valid for 45 days on half-yearly packs and 90 days on annual packs. Moreover, Vi is offering a one-year subscription to OTT platforms like Disney+ Hotstar and Amazon Prime Video…

14 Aug

HAL Q1 results: Net profit expansion 77% to Rs 1,437 crore

editorBusiness, News

Hindustan Aeronautics Limited (HAL) on August 14 reported that its Q1FY25 consolidated net profit rose 77 per cent year-on-year to Rs 1,437 crore from Rs 814 crore in the same period last year. The PSU defense major's consolidated revenue from operations in the April-June quarter rose 11 per cent to Rs 4,348 crore from Rs 3,915 crore a year ago.Total income in the quarter under review increased by almost 18 percent to Rs 5,083 crore. In the year-ago period it was reported to be Rs 4325 crore. There was a slight increase in the company's expenses in the June quarter…

14 Aug

Tata Tea Premium celebrates Independence Day with limited-edition Kantha embroidery tribute

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Tata Tea Premium, a flagship brand of Tata Consumer Products Ltd., has unveiled its #DeshKaGarv - Pradesh Ki Kala collection this Independence Day, paying a unique tribute to Kolkata’s first metro line through exquisite Kantha embroidery. The limited-edition collection is designed to honor India's cultural milestones and celebrate regional art. Inspired by Kolkata’s historic metro launch in the 1980s, the collection features intricate Kantha embroidery that highlights the city’s cultural landmarks, weaving a rich narrative of India’s historical and cultural legacy. This initiative aligns with Tata Tea Premium’s commitment to evoke national pride and celebrate regional artistry.The collection is available…

13 Aug

Amitabh Bachchan and Manoj Pahwa lead GSK’s new shingles awareness campaign

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GSK has launched a new awareness campaign on shingles, featuring veteran actors Amitabh Bachchan and Manoj Pahwa. Titled “Yeh Science Hai,” the campaign aims to educate the public on the scientific link between chickenpox and shingles, particularly focusing on the increased risk for individuals with diabetes. In the campaign, Amitabh Bachchan and Manoj Pahwa engage in everyday conversations to highlight the heightened susceptibility to shingles in those with diabetes. The initiative underscores that people who have had chickenpox and also suffer from diabetes face a 40% higher risk of developing shingles due to weakened immune systems.Manoj Pahwa, commenting on his…

13 Aug

Axita Cotton Limited announces bonus issue and strong Q1 FY25 performance

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Axita Cotton Limited, a prominent player in India’s cotton industry, has proposed a bonus issue of equity shares in the ratio of 1:3, subject to shareholder approval. This entails issuing one bonus equity share for every three fully paid-up shares, enhancing shareholder value.The company has also reported its financial results for Q1 FY25, showcasing a net profit of Rs. 3.54 crore, with a profit before tax of Rs. 4.96 crore. Total income for the quarter stood at Rs. 154.96 crore, and EBITDA reached Rs. 5.73 crore, reflecting robust operational performance amidst a challenging market environment. Mr. Nitinbhai Patel, Chairman and…

13 Aug

H&M partners with Anamika Khanna to globalize contemporary Indian fashion

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H&M has announced an exciting collaboration with renowned Indian designer Anamika Khanna, bringing her eclectic style and craftsmanship to a global audience. The collection, featuring womenswear, menswear, jewelry, and accessories, will launch in select stores and online at hm.com and Myntra on September 5, 2024. Anamika Khanna, known for her fusion of traditional Indian silhouettes with modern tailoring, aims to showcase India's sartorial heritage on the international stage. "This collection allows me to take something Indian and make it global and contemporary," Khanna remarked, highlighting the importance of redefining Indian fashion beyond mere costume.The collection boasts fluid, flattering styles with…

13 Aug

QNET India’s Rakshabandhan collection: Luxurious gifts to celebrate sibling bonds

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As Rakshabandhan approaches, QNET India is making waves with its stunning new gift collection, offering a blend of tradition and modern luxury for those seeking to celebrate the festival with elegance. This year’s selection emphasizes both aesthetic appeal and high-quality craftsmanship, ensuring that each gift reflects the deep bond between siblings. The highlight of the collection is the ORITSU Dinnerware, featuring premium porcelain adorned with 24-karat gold accents, crafted in collaboration with Dankotuwa of Sri Lanka. The collection includes three exquisite designs—ORITSU White Lotus, Royal Petals, and Water Lily—each promising to elevate any dining experience with its luxurious touch. Also…