Business - The Purbottar

08 May

State Bank of India Posts 5.6% Growth in Quarterly Profit Amid Rising NII

nanika EditorBusiness

State Bank of India (SBI), the nation’s largest lender, reported a 5.6% year-on-year increase in its net profit for the fourth quarter ended March 31, 2026. The bank’s profit after tax rose to ₹19,684 crore ($2.08 billion), up from ₹18,643 crore in the corresponding period last year. Despite the growth, the figure fell short of analysts' average expectations, which had projected a net profit of approximately ₹20,312 crore. The bank's Net Interest Income (NII)—the difference between interest earned and interest expended—climbed by 4.1% to reach ₹44,380 crore. While the NII showed a steady increase from the ₹42,617 crore reported a…

08 May

Lenskart share price: Stock surges 5% after massive ₹5,316-cr block deal, strong recovery

anuprova EditorBusiness

Lenskart shares had a volatile trading session on Friday and recovered by more than 5% from their intraday lows after a huge block deal of Rs 5,316 crore. The stock initially dropped, down almost 1% in early trading after news broke that a large chunk of equity - more than 6% of the company - was changing hands. The initial selloff was quickly met with strong buying interest at lower levels, suggesting institutional investors saw the large-scale transaction as an attractive entry point rather than a reason for sustained alarm. A block deal was for a large stake to be…

08 May

Godrej Enterprises expands aero engine manufacturing push, bets big on aerospace growth

Business BureauBusiness

Mumbai-based Godrej Enterprises Group is strengthening India’s aero engine and aerospace manufacturing capabilities through advanced precision engineering and fresh investments aimed at boosting indigenous production. The company on Tuesday said it is the only private firm in India with the capability to manufacture all modules of an aero engine, supporting the country’s Atmanirbhar Bharat mission. The aerospace business of the group, established in the 1980s, currently works with major global aerospace companies including Boeing, Safran Aircraft Engines, GE Aerospace, Rolls-Royce and RTX. The company reported nearly 25 per cent year-on-year growth, while exports rose by more than 30 per cent,…

08 May

TVS Motor launches new iQube S 4.7 kWh variant with 175 km range

Business BureauBusiness

TVS Motor Company has expanded its electric scooter lineup with the launch of the new TVS iQube S 4.7 kWh variant, aimed at strengthening its presence in India’s growing electric mobility market. Priced at ₹1,37,142 (effective ex-showroom Delhi, including central and state subsidies), the new scooter offers an IDC-certified riding range of 175 km on a single charge. The company said the upgraded 4.7 kWh battery has been designed to support both daily commuting and longer rides with improved convenience and confidence for riders. The latest addition to the iQube portfolio comes with three colour options — Magnificence Purple Beige,…

08 May

Nissan launches nationwide AC check-up camp ahead of summer rush

Business BureauBusiness

Nissan Motor India has launched a nationwide AC Check-up Camp across its authorised service network to help customers prepare their vehicles for the peak summer season. The campaign, which began on May 6, will continue until June 15, 2026, covering 125 authorised service touchpoints across India. Under the initiative, Nissan’s trained service professionals will carry out a 12-point AC inspection aimed at ensuring optimum performance of vehicle air-conditioning systems during the summer months. Customers visiting the service centres will also receive complimentary top wash facilities and pick-up and drop-off services. The company said customers can additionally avail up to 10…

07 May

Life insurance market expands sharply in FY26, new business premium nears Rs 4.6 lakh crore

Business BureauBusiness

India’s life insurance market closed FY26 with strong momentum, as total new business premium (NBP) grew 15.7% year-on-year to ₹4,59,713 crore, compared to ₹3,97,337 crore in FY25, signalling sustained expansion across segments. Monthly data indicates continued acceleration, with March 2026 collections at ₹75,872 crore, up from ₹61,439 crore in March 2025. The growth trajectory was primarily led by the group segment, which remained the key driver of overall market expansion. Group Single Premium rose 17.5% to ₹2,49,766 crore, while Group Yearly Renewable Premium recorded a sharp 39% increase. Group Non-Single Premium also posted strong gains, albeit on a lower base.…

07 May

Aadhar Housing Finance posts 22% profit growth, AUM crosses Rs 30,000 cr in FY26

Business BureauBusiness

Aadhar Housing Finance Ltd reported a strong financial performance for the fourth quarter and full year ended March 31, 2026, with Profit After Tax (PAT) rising 22% year-on-year to ₹1,108 crore in FY26, compared to ₹912 crore in FY25. The company’s Assets Under Management (AUM) grew 20% YoY to ₹30,571 crore, crossing the ₹30,000 crore milestone. Quarterly performance remained robust, with Q4 FY26 PAT increasing 27% YoY to ₹311 crore, while disbursements surged 20% to ₹3,087 crore — the highest-ever quarterly disbursement recorded by the company. Total loan accounts stood at over 3.36 lakh, reflecting steady expansion. Net worth rose…

07 May

LinkedIn study finds rising awareness of job scams among Indian professionals

Business BureauBusiness

Indian professionals are becoming increasingly cautious about online job scams, with 82 per cent now pausing to assess whether a job opportunity is legitimate before applying, according to new research released by LinkedIn. The study, titled “Job Search Safety Pulse,” found that 53 per cent of Indian professionals are now more likely to question whether a job posting is fake compared to a year ago. However, the report highlighted that Gen Z job-seekers remain particularly vulnerable despite growing awareness. According to the findings, 54 per cent of Gen Z respondents admitted ignoring warning signs during high-pressure job searches when opportunities…

07 May

ABD’s Rangapur facility wins best factory award, strengthens premium push

Business BureauBusiness

Allied Blenders and Distillers Limited (ABD), India’s largest domestic spirits company by volume, has been awarded the Best Factory/Management Award for its integrated manufacturing facility at Rangapur in Wanaparthy district, Telangana. The recognition was conferred by the Labour, Employment, Training & Factories Department during International Labour Day celebrations on May 1, 2026, highlighting excellence in manufacturing and management. ABD’s Rangapur facility serves as a key production hub, housing an ENA distillery, an IMFL bottling unit, and a PET bottle manufacturing plant commissioned in September 2025. The integrated infrastructure enables better control over production cycles, cost efficiencies, and supply chain logistics.…

07 May

Tata Motors marks 21 years of ace with launch of Ace Gold+ XL, rolls out ‘Ikkis Saal Bemisaal’ campaign

Business BureauBusiness

Tata Motors has launched the all-new Ace Gold+ XL, marking 21 years of its iconic small commercial vehicle, the Tata Ace. The launch also coincides with the rollout of the nationwide ‘Ikkis Saal Bemisaal’ campaign, celebrating entrepreneurs who have built livelihoods around the ‘Chota Haathi’. Designed for higher payloads and longer applications, the Ace Gold+ XL features an 8-foot load body and 1-tonne payload capacity, aimed at boosting cargo volume and earnings. Powered by a 700cc turbocharged diesel engine delivering 22 PS power and 55 Nm torque, the vehicle uses Lean NOx Trap (LNT) technology, eliminating the need for Diesel…