India

Zomato posts ₹36 cr profit on surge in order volume
04 Nov

Zomato posts ₹36 cr profit on surge in order volume

Priyanka Bhowmick0 CommentsBusiness, India,
Shares of online food delivery platform Zomato rose nearly 10 percent on Friday after reporting a consolidated profit after tax of Rs 36 crore for the second quarter ended September 2023, driven by strong revenue growth. The company's stock rose 8.28 percent to settle at Rs 116.40 on the BSE. During the day, it zoomed 11.62 percent to touch a 52-week high of Rs 120. On the NSE, it rose 9.62 percent to Rs 117.90. In terms of traded volume, 83 lakh shares of the company were traded on BSE and 23.88 crore shares on NSE during the day. The…
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Intel collaborates with Indian companies for local manufacturing of laptops
04 Nov

Intel collaborates with Indian companies for local manufacturing of laptops

Priyanka Bhowmick0 CommentsBusiness, India,
Intel is accelerating local manufacturing in India through a new collaboration with 8 local companies, a mix of both EMS and ODMs. The semiconductor chip maker said it will equip these companies with the know-how needed to set up laptop production for both domestic and international demand. The collaboration will see the manufacturing of "complete" entry-level laptops in India, with Intel sharing its SMT line know-how, setting up a quality control process for components and benchmarking the finished product. Companies Intel is collaborating with include Bhagwati Products Limited, Dixon Technologies India Limited, Keynes Technology India Limited, Optiemus Electronics Limited, Panache…
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UCO Bank sends sweets to top 10 defaulters
03 Nov

UCO Bank sends sweets to top 10 defaulters

Priyanka Bhowmick0 CommentsBusiness, India,
Public sector lender UCO Bank has on November 2, withdrawn its earlier decision to distribute sweet packets to the bank's top 10 NPA (non-performing asset) borrowers this Diwali.The bank said: "It is hereby advised that the instructions contained in the aforesaid communication be withdrawn." Earlier in the November 1 circular UCO Bank had said: "Top management has recommended distribution of sweet packets to the top 10 NPA borrowers of each branch, in line with peer PSB like other valuable customers, where branch heads have to meet them in person, greet them on the occasion of Diwali and distribute them a…
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AJIO launches D2C-focused interactive e-com platform Ajiogram
03 Nov

AJIO launches D2C-focused interactive e-com platform Ajiogram

Priyanka Bhowmick0 CommentsBusiness, India,
Reliance Industries Ltd (RIL)-owned fashion e-tailer Ajio on Thursday launched Ajiogram, a D2C-focused interactive e-commerce platform, which aims to 'empower Indian fashion startups that are challenging the norm through their vision and innovative products.' "Ajiogram offers a unique brand-centric approach, where, unlike the status quo, brands gain heightened visibility with an immersive discovery experience to showcase their style range," Ajio said in a statement. Details about Ajiogram:1.) The platform can be easily accessed by switching stores within the Ajio app. Also, with this initiative, the Reliance-owned e-tailer aims to 'empower' the next 100 fashion startups to emerge from the country,…
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More than 97% of Rs 2,000 notes returned: RBI
02 Nov

More than 97% of Rs 2,000 notes returned: RBI

Priyanka Bhowmick0 CommentsEconomy, India,
The Reserve Bank of India (RBI) on Wednesday said that Rs 10,000 crore of Rs 2000 notes withdrawn from circulation on May 19 are yet to be returned to the banking system. As of May 19, the total value of Rs 2000 notes in circulation was Rs 3.56 lakh crore. This has come down to Rs 10,000 crore as of the close of business on October 31, 2023, RBI said in a release. "Thus, more than 97 percent of the Rs 2,000 notes in circulation have been refunded till May 19, 2023," the RBI said in a press release. It…
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Naresh Goyal diverted crores in bank loans through wife, children: ED
02 Nov

Naresh Goyal diverted crores in bank loans through wife, children: ED

Priyanka Bhowmick0 CommentsBusiness, India,
The Enforcement Directorate (ED) has attached assets worth Rs 538 crore of Jet Airways founder Naresh Goyal, his family members and companies in London, Dubai and India, Central Investigation Agency officials said on Wednesday. They added that the action was taken as part of a money laundering investigation linked to an alleged bank loan fraud.ls said. The attached property has 17 residential flats, bungalows and commercial space, officials said. Located in London, Dubai and various cities in India, these properties are held in the names of different companies such as Jetair Pvt Ltd and Jet Enterprises Pvt Ltd, Goyal, his…
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SBI card, Reliance Retail launch Reliance SBI card
01 Nov

SBI card, Reliance Retail launch Reliance SBI card

Priyanka Bhowmick0 CommentsBusiness, India,
SBI Card, India's largest pure-play credit card provider and Reliance Retail have launched a co-branded 'Reliance SBI Card'.This lifestyle-focused credit card will provide a rewarding shopping experience for customers across different segments with different spending needs.The card enables cardholders to unlock rewards and benefits when transacting across Reliance Retail's product ecosystem. Additionally, Reliance SBI Card users can also avail curated offers by SBI Card on an ongoing basis.The co-branded card was launched in two variants – Reliance SBI Card and Reliance SBI Card Prime – each designed to bring rewards and lifestyle benefits to specific consumer needs. The annual renewal…
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Commercial cylinder rate increased
01 Nov

Commercial cylinder rate increased

Priyanka Bhowmick0 CommentsBusiness, India, Lifestyle,
Oil companies have hiked the price of commercial LPG cylinders by Rs 101.50 from November 1. Now, as per the new rates, a commercial cylinder of LPG will now be available at Rs 1833 in the capital Delhi. Now a 19 kg commercial LPG cylinder will cost Rs 1,785.50 in Mumbai, the cheapest among the four metros. The price in Chennai will be dearest, Rs 1,999.50. It will retail for Rs 1,833 in Delhi and Rs 1,943 in Kolkata. The new price of LPG cylinders will be applicable only on 19 kg commercial cylinders. There will be no change in…
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81.5 crore Indian users’ personal data leaked in historic breach
31 Oct

81.5 crore Indian users’ personal data leaked in historic breach

Priyanka Bhowmick0 CommentsCrime, India,
Personal information of over 81 crore Indians has been allegedly leaked and put up for sale on the dark web. Covid-19 test data was held with the Indian Council of Medical Research (ICMR), cited as the source of the data. An American cyber-security and intelligence agency reportedly noticed the breach. The data that was placed on the dark web reportedly included information such as name (of beneficiaries), address, phone number, Aadhaar card number, etc.The breach was also previously advertised on Twitter or X, where the 'threat actor' also revealed the details. According to the report, the 'threat actor' shared spreadsheets…
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Tata Motors wins arbitral award of Rs 766 cr plus interest at 11% in Singur plant case
31 Oct

Tata Motors wins arbitral award of Rs 766 cr plus interest at 11% in Singur plant case

Priyanka Bhowmick0 CommentsBusiness, India,
Tata Motors shares rose 2% in early trade on Tuesday, before paring some gains, a day after the company was compensated 7.66 billion rupees ($92.00 million) for investment in its Singur plant in West Bengal. A three-member arbitral tribunal said Tata Motors was entitled to recover money from the West Bengal Industrial Development Corporation for investment losses related to automobile facilities, according to an exchange filing. The currently closed Singur plant was initially set up to manufacture Tata Nano cars at an investment of Rs 10 billion. A land dispute forced Tata Motors to shift its manufacturing facility from Singur…
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