Business News Northeast - Latest Business Northeast News & Updates

16 Nov

UTI Mutual Fund expands reach with new financial centre in Bettiah

Business Bureau0 CommentsBusiness

UTI Asset Management Company (UTI AMC), one of India’s top asset management firms, is set to open a new UTI Financial Centre (UFC) in Bettiah, Bihar, as part of its expansion strategy. The centre, located at Supriya Cinema Road, Chawani, Mirza Tola, Near PNB, Bettiah, will commence operations on November 18, 2024. This opening is part of UTI’s plan to launch 19 new UFCs across South, East, and Northeast India, aiming to boost financial inclusion and bring mutual fund investments to smaller cities. Mr. Imtaiyazur Rahman, MD and CEO of UTI, highlighted the company’s strategic approach: "By opening these new…

15 Nov

Suzlon Energy shares expansion 5% after 5-day decline

Priyanka Roy0 CommentsBusiness, News

Suzlon Energy shares jump 5% after 5-day decline Suzlon Energyshares jumped 5% on Thursday and hit an upper circuit of Rs 56.78, snapping a five-day losing streak. The rally in the wind power company's stock is attributed to the optimism prevailing in the market over the company's ongoing efforts to strengthen its position in the renewable energy space.Suzlon's positive momentum is driven by the recent significant order of 1,166 MW of wind power received from NTPC Green Energy. The deal has strengthened Suzlon's order book, which now stands at a record 5.1 GW, driving revenue growth and stability.With a strong…

14 Nov

Eicher Motors shares grew up over 8% after earnings announcement

Priyanka Roy0 CommentsBusiness, News

Eicher Motors' consolidated profit after tax rose 8 per cent year-on-year to ₹1,100 crore in the September 2024 quarter, led by robust sales across all business segments. Eicher Motors shares surged over 8 per cent on Thursday after the firm said its consolidated profit after tax rose 8 per cent year-on-year to ₹1,100 crore in the September 2024 quarter. The stock rose 8.35 per cent to ₹4,972.50 on the BSE. It rose 8.37 per cent to ₹4,973 on the NSE. Eicher Motors on Wednesday said its consolidated profit after tax rose 8 per cent year-on-year to ₹1,100 crore in the…

14 Nov

HDFC ERGO implements Pradhan Mantri Fasal Bima Yojana for Rabi Season

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HDFC ERGO General Insurance, a leading private sector insurer in India, has been authorized by the Government of Tripura to implement the Pradhan Mantri Fasal Bima Yojana (PMFBY) for farmers in the state's eight districts. This initiative will cover both loanee and non-loanee farmers for the Rabi 2024 season. The scheme insures farmers against yield losses due to external risks such as drought, floods, and pests. Crops eligible for coverage include Boro Paddy, Potato, Cauliflower, Brinjal, Tomato, and Watermelon, across districts like Dhalai, Gomati, Khowai, and others. The premium rates and sum insured vary by crop and district, with deadlines…

13 Nov

Medicare premiums will expansion again in 2025. Here’s what you need to know

Priyanka Roy0 CommentsBusiness, News

Americans on Medicare can expect their premiums to rise by more than $10 per month starting in 2025. The announcement comes from the Centers for Medicare & Medicaid Services, which said it will increase the deductible by $17 due to higher projected costs and projected utilization growth. According to CMS, anyone making more than $106,000 can expect their premiums to rise even more, but that depends on how much they earn. News of this increase comes about a month after the Social Security Administration announced a 2.5% cost-of-living adjustment — which increases monthly Social Security benefits by $50. Since most…

12 Nov

Maruti Suzuki launches all-new Dzire

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Creating a new benchmark in the compact sedan segment, Maruti Suzuki India Limited (MSIL) has introduced the Dazzling New Dzire with petrol and S-CNG models. As one of the most successful and iconic brands in Maruti Suzuki’s portfolio, the Dzire has earned the trust of over 27 lakh customers across the country. The Dazzling New Dzire has been reimagined to build on the strong foundation of its legacy and unmatched style, comfort, and reliability. With its progressive design, plush two-tone interiors, and a host of segment-first features, the Dazzling New Dzire offers a distinguished and premium experience. Introducing the All-New…

11 Nov

ICICI Foundation brings lifesaving healthcare to Northeast, revitalizes Kohima’s medical market

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ICICI Foundation, the CSR arm of ICICI Bank, is addressing the healthcare needs of India’s North Eastern region. Since 2023, it has benefitted over 9,100 patients, across Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, and Tripura, where essential medical infrastructure and healthcare services have been provided to enhance accessibility and quality of care. Supporting crucial areas such as Tuberculosis (TB) treatment, cancer care, and dialysis services, ICICI Foundation has provided over 60 medical equipment including video bronchoscopes, ultrasounds, dialysis units, and endoscopes. In Assam, ICICI Foundation installed 25 dialysis units across districts like Chirang, West Karbi Anglong, Dima Hasao,…

11 Nov

India’s steel exports record double-digit expansion in October

Priyanka Roy0 CommentsBusiness, News

According to data compiled by the Steel Ministry, India's steel exports in October recorded a double-digit rose of 11 percent over the previous month, indicating better prospects for the sector.Inflation in steel exportsThe country's steel exports rose to 4.4 million tonnes in October from 4 million tonnes in September while imports downgraded, which will help domestic steel companies get better prices for their products in the third quarter, a senior official report.Imports slowed during the month for the 1st time in the current fiscal year, as the government banned poor quality steel coming from countries like Vietnam.Reforms in the domestic…

09 Nov

ICICI Bank revives ancient ahar-pyne irrigation systems in Bihar to combat water scarcity

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ICICI Foundation, the CSR wing of ICICI Bank, has launched a major project in Bihar to revive traditional water systems, addressing the region's pressing water scarcity issues. In Gaya district, the foundation has restored ancient water harvesting systems known as ahars and pynes, enhancing irrigation and providing clean drinking water to combat diseases like cholera and typhoid. This initiative, which also extends to Danapur Cantonment in Patna, has benefitted around 250,000 residents by ensuring access to safe water. These traditional water structures, designed to collect and channel floodwater, had been rendered ineffective due to silt buildup over the years, worsening…

09 Nov

If we hadn’t imported from Russia, the price of oil would have skyrocketed worldwide

Tanupriya0 CommentsBusiness

India's oil minister stated that foreign oil prices "would have hit the roof" if the major importer had not purchased oil from Russia during the conflict in Ukraine, adding that pricing would dictate the country's oil supplier.Since Ukraine's invasion started in early 2022, India, the third-largest oil importer and consumer in the world, has emerged as the leading purchaser of cheap Russian seaborne oil that Western nations have avoided. Prior to then, India purchased very little oil from Russia, its longtime defense ally. New Delhi has frequently justified its imports from Russia, arguing that they are essential to controlling pricing…