Sunday, December 22

Month: April 2024

HCLTech shares plunge over 6% after Q4 results
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Business News, Feature

HCLTech shares plunge over 6% after Q4 results

Jaipur, April 29, 2024. HCL Technologies (HCLTech) shares plunged up to 6.3% on Monday, marking its largest drop in nearly 17 months. The stock, however, managed to recover slightly, trading 5.62% lower at Rs 1,389.50 by 12.06 pm on the Bombay Stock Exchange. While its net profit rose marginally in the March quarter, it was the company's lower-than-expected revenue projection that have made brokerages and investors nervous. In its outlook for fiscal 2025, the Noida-based company projected revenue growth of 3-5%, a forecast that fell below market estimates. HCLTech CEO C Vijayakumar highlighted ongoing macroeconomic challenges likely to impact demand throughout the fiscal year.
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Ramveer Tanwar, The Pondman of India partnered with Coca-Cola India for Pond Rejuvenation
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Feature, National News

Ramveer Tanwar, The Pondman of India partnered with Coca-Cola India for Pond Rejuvenation

Gurugram, April 2024. Gurugram: ‘The Pondman of India’ teamed up with the Coca-Cola India employees and local volunteers to desilt a pond in Shikohpur, Gurgaon, Haryana. They also planted saplings to enhance the surroundings. This joint effort in partnership with PHD Rural Development Foundation aims to benefit the socio-economic ecosystem setting a refreshing example of community-led environmental stewardship.
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Skill India Digital Hub Empowering Youths in India
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Skill India Digital Hub Empowering Youths in India

New Delhi, April 2024. Continuous skill development and lifelong learning are crucial for driving economic prosperity, empowering individuals to thrive through meaningful employment, and advancing equality and resilience within communities. In line with this objective, the International Labour Organization (ILO) convened the Global Skills Forum on Wednesday to bring together world leaders on the same platform to deliberate on ways to shape skills development in today’s world. During the panel discussion on“Human-Centered Digital Transformation of Skills Development” organized by ILO the Skill India Digital Hub (SIDH), an initiative by the Ministry of Skill Development and Entrepreneurship (MSDE), was presented as the tool that transformed India’s skill development ecosystem. While...
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TechMahindra reports 29% increase in PAT, Board recommends dividend of Rs 28 per share
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TechMahindra reports 29% increase in PAT, Board recommends dividend of Rs 28 per share

New Delhi – April 26th, 2024. Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industriesannounced the audited consolidated financial results for its quarter and yearended March 31st, 2024. Financial highlights for the quarter (USD)Revenue at USD 1,548mn; down1.6% QoQ, down 7.2% YoYRevenue declined by 0.8% QoQ, by 6.4% YoY in constant currency termsEBITDA at USD 169mn; up 22.9% QoQ, down 31.1% YoY; Margin at 10.9%, up 220bps QoQProfit after tax (PAT) at USD 79mn; up 29.5% QoQ, down 41.5% YoYFree cash flow at USD 129mnFinancial highlights for the quarter (₹)Revenue at ₹12,871crores; down1.8% QoQ, down 6.2% YoYEBITDA at ₹ 1,408crores; up 22.8% QoQ, down 30.3% YoYConsolidated PAT at ₹ 661crores; up 29.5% QoQ, down...
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Toyota Kirloskar Motor Unveils“TGLOSS”: A Comprehensive Car Detailing Solution
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Toyota Kirloskar Motor Unveils“TGLOSS”: A Comprehensive Car Detailing Solution

Bangalore, 26, April 2024. In line with its ‘customer-first’ philosophy, Toyota Kirloskar Motor Pvt. Ltd. (TKM) today announced the launch of its revolutionary car care brand, “TGLOSS”, marking the brand's foray into the world of car detailing. In response to the rapidly increasing demand for high quality and reliable car detailing services among customers in India, TKM is set to redefine the car care industry with its comprehensive range of solutions tailored specifically for Toyota vehicles. Starting May 1, 2024, “TGLOSS” treatments will be offered at every authorised Toyota dealership in India. This provides customers with convenient access to quality car care solutions delivered in a highly professional manner, ensuring a delightful ownership experience. As an industry first b...
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Tata Motors inaugurates new commercial vehicle spare parts warehouse in Guwahati
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Tata Motors inaugurates new commercial vehicle spare parts warehouse in Guwahati

Guwahati 26 April 2024. Tata Motors, India’s largest commercial vehicle manufacturer, today announced the inauguration of a new commercial vehicle spare parts warehouse in Guwahati. The state-of-the-art facility is fully digitalised and spans across 1 lakh square feet, stocking spare parts for the entire commercial vehicle portfolio. The addition of the new facility will enable the company faster turnaround times and easier availability of spares at Tata Authorised Service Stations in the North East.  Equipped with world-class infrastructure and safety measures, the facility will unlock greater customer value proposition through digitalised warehouse processes. Tata Motors has partnered with Delhivery, India's largest fully integrated logistics services provider, to leverage its...
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Boult launches first-ever soundbars in India, priced starting Rs 4,999
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Boult launches first-ever soundbars in India, priced starting Rs 4,999

New Delhi, April 26, 2024. Homegrown smart wearables brand Boult has announced its foray into smart home audio devices with the launch of its first-ever soundbars in India-the Boult BassBox X120 and BassBox X180. According to Boult, with its new home audio range, the company aims to revolutionise home entertainment as an affordable choice. Whether hosting a lively party or simply enjoying some solo music time, BassBox promises to offer its users an unparalleled audio experience. Boult co-founder Varun Gupta stated that with the new sound system, Boult aims to offer the Indian market an immersive TV viewing experience for the company's customers without burning a hole in their pockets. The Boult BassBox soundbars are priced starting at Rs 4,999. "Indian customers are very focused ...
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Rupee declines 5 paise to 83.33 against US dollar
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Rupee declines 5 paise to 83.33 against US dollar

New Delhi, April 26, 2024. The rupee depreciated 5 paise to 83.33 against the US dollar in early trade on Friday, tracking a strong greenback overseas and a positive trend in domestic equities. However, elevated crude prices in international markets and unabated foreign capital outflows capped the gains in domestic unit, forex traders said. At the interbank foreign exchange, the domestic unit opened weak at 83.30 against the dollar and then further slipped to 83.33, registering a fall of 5 paise over its previous close.
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Mahindra achieves tractor sales milestone of 40 lakh units
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Mahindra achieves tractor sales milestone of 40 lakh units

New Delhi, April 26, 2024. The world's largest tractor manufacturer by volume, Mahindra Tractors, has achieved the cumulative sales milestone of 40 lakh units, including domestic sales and exports. The milestone unit model, a Yuvo Tech Plus, was rolled out from Mahindra's Zaheerabad plant, which is the company's youngest tractor facility and a global production hub for Mahindra tractors. Mahindra launched its maiden tractor in 1963 in partnership with the USA-based International Harvester. The Indian company surpassed 10 lakh tractor sales in 2004, 20 lakh in 2013, 30 lakh in 2019 and 40 lakh in 2024. Mahindra became the world's highest-selling farm tractor manufacturer by volume in 2009.
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Axis Bank approves reappointment of Amitabh Chaudhry as CEO for three years
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Axis Bank approves reappointment of Amitabh Chaudhry as CEO for three years

New Delhi, April 26, 2024. Axis Bank on Thursday said its board has approved reappointment of Amitabh Chaudhry as MD & CEO for three years with effect from January 1, 2025. This will be his second extension of three years. His last extension came into effect from January 1, 2022. Chaudhry joined the bank as MD&CEO in 2019. Prior to that he was MD & CEO of HDFC Life. The reappointment is subject to approval of the Reserve Bank of India and shareholders, Axis Bank said in a regulatory filing.
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IndiGo places order for 30 Airbus A350 jets
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IndiGo places order for 30 Airbus A350 jets

Jaipur, April 26, 2024. IndiGo, India’s top airline by market share, said on Thursday that it placed an order for 30 Airbus A350-900 widebody aircraft. The low-cost carrier expects deliveries to start from 2027. IndiGo also has purchase rights for an additional 70 Airbus A350 family aircraft,
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Payment frauds rise by 70.64% to Rs 2,604 crore in October-March period
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Payment frauds rise by 70.64% to Rs 2,604 crore in October-March period

New Delhi, April 26, 2024. Payment frauds are rising sharply if the data from the Reserve Bank of India is any indication. Domestic payment frauds jumped by 70.64 per cent to Rs 2,604 crore during the six-month period ended March 2024 from Rs 1,526 crore in the same period of last year. The volume of frauds also rose to 15.51 lakh during the March 2024 period from 11.5 lakh in the previous six-month period, RBI data shows. While the RBI has considered only domestic financial transactions, the new format captures e-commerce transactions — transactions using FASTags, digital bill payments and card-to-card transfer through ATMs, etc. However, failed transactions, chargebacks, reversals, expired cards/ wallets, are excluded. Data on domestic payment fraud statistics is as reported by ...
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JEE Advanced 2024 application begins on April 27
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JEE Advanced 2024 application begins on April 27

Jaipur, April 26, 2024.  IIT Madras will tomorrow (April 27) begin the JEE Advanced 2024 registration process. The link for registration of JEE will be updated at the official website — jeeadv.ac.in.  The JEE Advanced online registration is now open for foreign national candidates including OCI and PIO candidates who have secured an OCI or PIO card on or after March 4, 2021.
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Jeep Wrangler facelift launched in India, priced from Rs 67.65 lakh
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Jeep Wrangler facelift launched in India, priced from Rs 67.65 lakh

New Delhi, April 26, 2024. Jeep has finally launched the updated Wrangler in India. It comes in two variants; Unlimited and Rubicon, priced at Rs 67.65 lakh and Rs 71.65 lakh (ex-showroom), respectively. Jeep claims to have already received over 100 pre-bookings. Deliveries of the 2024 Wrangler are slated to begin by the middle of May this year. There have been a number of subtle updates and changes to the latest iteration of the Wrangler in India. As far as price is concerned, both variants of the Wrangler facelift are now Rs 5 lakh more expensive than the outgoing model. On the outside, the most noticeable change to the Unlimited variant is the blacked-out front grille and 18-inch alloy wheels. The Rubicon also gets an all-black front grille but sports new 17-inch alloy wheels. Jee...
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Tata Motors Accelerates Innovation: Record 222 Patents Filed and 333 Grants Secured in FY24
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Tata Motors Accelerates Innovation: Record 222 Patents Filed and 333 Grants Secured in FY24

Jaipur, April 25, 2024.  Tata Motors, India’s leading automobile company, has yet again achieved a significant milestonetowards intellectual property rights(IPR) creation with a record-breaking number of 222 Patents and 117 Designs applications filed during the year FY24, highest in its history. These filings span across a wide spectrum of product and process innovations, addressing key automotive megatrends such as Connectivity, Electrification, Sustainability, and Safety (CESS). They also cover various vehicle systems such as powertrain, body & trim, suspension, brakes, HVAC, and emission control.Tata Motorsalso received its highest ever grant of 333 patents during the same period, taking its total tally of granted patents to over 850. Tata Motors’ strong commitment to eng...
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Audi India announces price revision effective June 01, 2024
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Audi India announces price revision effective June 01, 2024

Mumbai,April25, 2024. Audi, the German luxury car manufacturer, today announced a price increase of up to 2% across its model range due to rising input and transportation costs. The price hike will be effective from June 01, 2024. Mr. Balbir Singh Dhillon, Head of Audi India said,“Rising inputs costs are compelling us to increase prices by upto 2% effective June 01, 2024. The price correction aims to ensure sustainable growth for Audi India and our Dealer partners. As always, its  our endavour that the impact of rising costs is as minimal as possible for our customers.” Audi India retailed 7,027 units in FY23/24 posting an overall 33% growth.Audi Approved: plus the pre-owned car business also grew at 50% in FY23/24.
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IIT-JEE Mains results released: Maharashtra’s Neelkrishna becomes All India topper
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IIT-JEE Mains results released: Maharashtra’s Neelkrishna becomes All India topper

Jaipur, April 25, 2024. National Testing Agency released the result of JEE Mains 2024 Session 2 at around 11:30 pm on 24th April. Neelkrishna of Maharashtra has topped All India. He was preparing in Kota for two years. Whereas, SAARC Sanjay Mishra of Maharashtra has secured second rank and Aarav Bhatt of Haryana has secured third rank. Apart from this, among the students who got 100 percentile, 6 are from EWS category, out of which 4 are from Telangana and 2 from Andhra Pradesh.
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India gets four medals in Asian Under-20 Athletics Championship
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Sports News

India gets four medals in Asian Under-20 Athletics Championship

Jaipur, April 25, 2024. The Under-20 Asian Athletics Championships started in Dubai, UAE on 24 April. In this, Indian athletes won a total of four medals including one gold on the first day. Indian athletes won gold and silver in javelin, while India also got silver medals in 1500 meters and discus throw
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BMW i5 M60 electric sedan launched in India, priced at Rs 1.20 crore
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BMW i5 M60 electric sedan launched in India, priced at Rs 1.20 crore

New Delhi, April 25, 2024. BMW India has launched the i5 electric sedan in India. The first ever electric 5 Series counterpart - the i5 is making its debut in India as the i5 M60 xDrive, which is a BMW M Performance model. Available as a single trim, the BMW i5 M60 xDrive is priced at Rs 1.20 crore (ex-showroom) and is being brought to India as a full-import CBU. The BMW i5 shares its exterior body very closely with the regular 5 Series. However being an EV and that too the M Performance variant, the i5 M60 has a sportier look compared to the regular i5/5 Series. The kidney grille element is still present, but it has a glossy-black blanked off panel, which is surrounded by LED illumination. The headlamps have a sweeping design with crescent shaped LED signature lamps. The M60 gets la...
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Meta shares fall 15% on weak revenue forecast, higher AI spending
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Meta shares fall 15% on weak revenue forecast, higher AI spending

New Delhi, April 25, 2024. Meta Platforms disappointed investors on Wednesday with forecasts of higher expenses and lighter-than-expected revenue, knocking nearly $200 billion off its stock market value and raising fears the surging cost of AI is outpacing its benefits. Shares of the Facebook and Instagram parent dropped about 15% in extended trade following the report, its market capitalisation plunging to about $1 trillion.
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Axis Bank overtakes Kotak Mahindra Bank, becomes 4th largest lender by market cap
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Axis Bank overtakes Kotak Mahindra Bank, becomes 4th largest lender by market cap

Jaipur, April 25, 2024. Axis Bank on Thursday surpassed Kotak Mahindra Bank to become the fourth-largest banking stock on Dalal Street. Axis Bank's shares rose by 4% due to better-than-expected Q4 results, while Kotak's shares dropped by 10% following an RBI ban on digital customer sourcing and new credit card issuance. As a result, Kotak's market value fell to Rs 3.3 lakh crore, while Axis Bank's rose to Rs 3.4 lakh crore. 
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