Business - The Purbottar

04 Mar

Palm oil is a versatile and widely used vegetable oil globally

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Palm oil, derived from the oil palm tree's fruit, is a widely used vegetable oil with diverse applications. Originating in West Africa in 1875, it was introduced to South-East Asia for ornamental purposes, making it a crucial player in the global agricultural and food industries. Presently, Indonesia and Malaysia collectively account for more than 85% of the world's palm oil supply. Palm oil is grown in 42 additional countries, highlighting the global importance of palm oil production. The Malaysian palm oil industry has over 15 laws and regulations, aiming to minimize its environmental impact. Palm oil's versatility is evident in…

04 Mar

EaseMyTrip.com reports strong Q3 performance with 9.5% increase in profit after tax

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EaseMyTrip.com has announced its financial results for the third quarter of the fiscal year 2023-24, showcasing robust growth and strategic expansion initiatives. The company reported a Profit After Tax (PAT) of INR 456.6 million for Q3FY24, marking a notable 9.5% increase compared to the same period last year. The Q3FY24 performance highlights include a 18.1% year-on-year increase in revenue, reaching INR 1,607.9 million, and an EBITDA of INR 653.7 million, up by 10.9% year-on-year. The Gross Booking Revenue (GBR) for the quarter stood at INR 20,260.7 million. In addition to its financial achievements, EaseMyTrip demonstrated its commitment to diversification and…

04 Mar

Tata Group to build a mega semiconductor Fab in Dholera, Gujarat

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The Indian government has approved a proposal from Tata Electronics to build a mega semiconductor fabrication facility (“Fab”) in Dholera, Gujarat, in collaboration with PSMC, a significant step towards creating an indigenous semiconductor ecosystem. The fab construction will begin this year with a total investment of up to INR91,000crores (~US$11bn) and will generate over 20,000 direct and indirect skilled jobs in the region. With this announcement, Tata Electronics enters the global semiconductor industry. Tata Electronics and Powerchip Semiconductor Manufacturing Corporation (PSMC) will build India's first AI-enabled manufacturing facility, capable of producing up to 50,000 wafers per month. The facility will…

04 Mar

Tata Group plans to establish the first indigenous semiconductor assembly and test facility in Assam

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The Indian government has approved Tata Electronics' proposal to establish a greenfield semiconductor assembly and test facility in Jagiroad, Assam, a significant step towards India's end-to-end semiconductor manufacturing ecosystem. The facility will be built with an investment outlay of INR 27,000 crore and is expected to generate over 27,000 direct and indirect jobs in the region. Tata ElectronicsPvt. Ltd. plans to build a facility focusing on Wire Bond, Flip Chip, and Integrated Systems Packaging (ISP) technologies, crucial for India's automotive, communications, and network infrastructure applications. The facility will serve growing global demands across key market segments like AI, industrial, and…

03 Mar

PM Modi Contributes Rs 2000 To BJP, Urges People To ‘Donate For Nation Building’

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Ahead of the Lok Sabha elections, PM Modi on March 3(Sunday) contributed Rupees 2000 to the Bharatiya Janata Party via the NaMo app to boost the efforts of building a Viksit Bharat and asked everyone to donate and help the efforts of the saffron party in nation-building. He further stated the importance of collective involvement in national development activities and encouraged people to participate in the "Donation For Nation Building" campaign through the NaMoApp. https://twitter.com/narendramodi/status/1764216867617406999?s=20

02 Mar

HCCB invests Rs 350 cr in Madhya Pradesh

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Hindustan Coca-Cola Beverages (HCCB), the bottling arm of Coca-Cola in India, has announced a Rs 350 crore investment in Madhya Pradesh for establishing two manufacturing lines at its Rajgarh plant. "The fresh infusion of capital will see the introduction of 2 new, state-of-the-art manufacturing lines at HCCB's factory in Rajgarh, that will produce Affordable Small Sparkling Packs (ASSP) and Juice Tetra Packs," the statement said. The investment will not only strengthen HCCB's manufacturing capabilities but also significantly contribute to the state's economy, it added. The Madhya Pradesh government has extended support to facilitate HCCB in obtaining all necessary permissions, approvals…

02 Mar

Mahindra Logistics Limited set to broaden its footprint in West Bengal

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Mahindra Logistics Limited, a leading Indian logistics provider, is expanding its presence in West Bengal by opening a 1.1 lakh sq. ft. fulfillment center in Malda, West Bengal, focusing on last-mile deliveries and fulfillment. This centre is a critical part of Mahindra Logistics’ supply chain network and will execute efficient and timely deliveries through end-to-end fulfilment and distribution capabilities. Additionally, Mahindra Logistics is also adding 14 last-mile delivery stations, touching approximately 15,000 households daily. Mahindra Logistics has expanded its warehousing footprint in West Bengal to 3.3 lakh sq. ft, enhancing its presence across the country. The company offers full truck…

02 Mar

Shri D. Sridhar Babu inaugurates the expanded Medtronic Engineering & Innovation Center in Hyderabad

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Medtronic, a global leader in medical technology, has inaugurated its expanded Medtronic Engineering and Innovation Center (MEIC) in Hyderabad. The center was inaugurated by Shri D. Sridhar Babu, Honorable Minister of IT, Industries & Commerce, Govt. of Telangana, and Geoff Martha, Chairman and CEO, in presence of US Consul General Jennifer Larson. Medtronic plans to expand its R&D center by investing over INR 3000cr (over $350M) over five years to scale up and employ 1500 people, aligning with its goal to expand its global R&D footprint and invest in local innovation ecosystems. MEIC is also Medtronic’s largest R&D center outside…

02 Mar

LTIMindtree Joins Forces with IBM

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IBM announced that LTIMIndtree, a global technology consulting and digital solutions company, has joined the IBM Quantum Network to explore quantum computing innovation for the benefit of its global clientele across multiple industries. LTIMindtree is the first Indian Global System Integrator (GSI) to join the IBM Quantum Network. LTIMindtree expands on its platinum partner status with IBM, joins a global community of Fortune 500 companies, top universities, research labs, and startups as part of the IBM Quantum Network, accessing IBM resources, including cloud-based quantum computing systems, software, and expertise. This move is a strategic step toward LTIMindtree helping their customers…

02 Mar

Samsung Announces New Memory Variant of Galaxy A15 5G

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Samsung, India’s largest consumer electronics brand, announced the launch of a new storage variant, 6GB+128GB of Galaxy A15 5G at an attractive price of INR 16499. The addition of the new storage variant will give more choices to consumers looking to buy Galaxy A15 5G. The Galaxy A15 5G is now available in three memory variants: 6GB+128GB, 8GB+256GB, and 8GB+128GB. The 8GB+256GB variant is priced at INR 22499, the 8GB+128GB variant at INR 19499, and the 6GB+128GB variant at INR 17999. Customers can also avail bank cashback worth INR 1500 on the 6GB+128GB variant. The Galaxy A15 5G is equipped…