August, 2024 - Exclusive News

2Aug

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Zomato shares zoom over 12 pc after strong Q1 results

New Delhi, August 02, 2024. Shares of Zomato zoomed more than 12 per cent on Friday after the food delivery aggregator reported a multi-fold jump in consolidated net profit to Rs 253 crore for the June quarter. The stock of Zomato surged 12.24 per cent to close at Rs 262.74 apiece on the National Stock Exchange (NSE). On the BSE, it climbed 12.11 per cent to settle at Rs 262.45 per piece.

2Aug

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Business News, Feature

Textile Industry in India Embraces Solar Power with LONGi Modules

Coimbatore, August 02, 2024. The Indian textile industry, a cornerstone of the nation's economy, is taking a giant leap towards a greener future. A textile manufacturer in Coimbatore, Tamil Nadu has recently installed a solar power plant featuring LONGi's high-efficiency Hi-MO 5 solar modules. The project, carried out by the esteemed EPC firm Viridis Engineering, is already yielding impressive results, generating substantial amounts of clean energy and delivering significant cost savings. The project was commissioned in two phases: 1 MW in May 2023 and 750 kW in February 2024. The plant boasts a remarkable daily generation capacity of 6 units. This translates to a staggering annual saving of ₹1.9 crore on electricity bills for the textile manufacturer. In addition to securing power f...

2Aug

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Feature, Rajasthan News

L&T Finance Ltd.’s Statement with respect to FIR against its ex-employees in Bhim Police Station, Rajasamand

We understand from news reports that Bhim Police Station, Dist. Rajasamand has registered an FIR against two persons namely,Giriraj Meghwal and Mukesh Kumar under section 376 and 120B of Indian Penal Code. These two persons are not associated with L&T Finance Ltd. and L&T Finance Ltd. had already taken separation actions against them for breach of Company’s internal code of conduct pursuant to an internal investigation. We extend our full co-operation to the police authorities in their ongoing investigation. Our commitment to the highest standards of integrity is unwavering, and we have a zero-tolerance policy for any behavior that compromises the safety and well-being of the society.

1Aug

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Feature, Health News, National News

Ayush Ministry will do the Holistic Development of Naturopathy – Prataprao Jadhav

New Delhi, August 01, 2024. A Felicitation Function, in honour of Minister of State for AYUSH (Independent Charge) Shri Pratap Rao, was organized by Surya Foundation and International Naturopathy Organization (INO) at the Constitution Club of India in the country's capital Delhi. The function was inaugurated by Minister of State for AYUSH (Independent Charge) with the lighting of the lamp. In addition, to the delegates of more than 200 yoga naturopathy world, Mr. Bhola Singh ji and Mr. Raju Bishta both Member of Parliament, Mr. Kostubh Karmakar (Ved ji) Vice Chairman Surya Foundation, Dr. D. N. Sharma and Dr. R. S. Dabas, both National Vice Presidents INO, Mr. Vijay Raj Shinde, former MLA, Buldhana, Maharashtra, Mr. Nand Kishore Agarwal, President and Mr. Mamaraj Agarwal, Balaji N...

1Aug

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Automobile News, Business News, Feature, National News

Tata Motors registered total sales of 71,996 units in July 2024

Mumbai, August 01, 2024. Tata Motors Limited sales in the domestic & international market for July 2024 stood at 71,996 vehicles, compared to 80,633 units during July 2023. Domestic Sales Performance: CategoryJuly 2024July 2023% change (Y-o-Y)Total Domestic Sales70,16178,844-11% Commercial Vehicles: CategoryJuly 2024July 2023Growth (Y-o-Y)HCV Trucks6,4938,502-24%ILMCV Trucks4,3414,899-11%Passenger Carriers4,4244,2923%SCV cargo and pickup10,17813,523-25%CV Domestic25,43631,216-19%CV IB1,6061,728-7%Total CV27,04232,944-18% Domestic sale of MH&ICV in July 2024, including trucks and buses, stood at 11,174 units, compared to 13,291 units in July 2023. Total sales for MH&ICV Domestic & International Business in July 2024, including trucks and buses, stood...

1Aug

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Automobile News, Business News, Feature, National News

Toyota Kirloskar Motor Continues to Steer Growth with Best Ever Sales of 31,656 Units in July 2024

Bangalore, 01 August 2024. For the second consecutive month, Toyota Kirloskar Motor has outperformed its sales achievement by registering best-ever monthly wholesale of 31,656 units in July 2024. While domestic sales accounted for 29,533 units, exports totalled to 2,123units during the month. This marks a remarkable growth of 44% compared to July 2023, when 21,911 units were sold. In the previous month of June 2024, TKM sold 27,474 units. In the first seven months of CY 2024, TKM sold 1,81,906 units, marking a remarkable 46% increase compared to the same period in CY 2023, which recorded sales of 1,24,282 units. Sales Performance: TimeframeJuly - 2024July - 2023GrowthY-o-Y31,656 units21,911 units44% TimeframeJan - July 2024Jan - July 2023GrowthFirst 7 months o...

1Aug

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Automobile News, Business News, Feature

HERO MOTOCORP EXPANDS ITS GLOBAL PRESENCE

New Delhi/ Manila, August 01, 2024 Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, has commenced operations in the Philippines. This strategic expansion marks a significant milestone in the company’s effortsto strengthen its global presence. Terrafirma Motors Corporation (TMC), a part of the Columbian Group of Companies, one of the leading and most experienced automotive groups in the Philippines, will serve asthe exclusive assembler and distributor of Hero MotoCorp products& services. The partnership between the two companies was announced in October 2022. Niranjan Gupta, Chief Executive Officer, Hero MotoCorp said, “The commencement of operations in the Philippines will bolster our overall global presence. Hero MotoCorp, with its extensive and in...

1Aug

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Automobile News, Business News

Tata Motors Consolidated Q1 FY25 Results

Mumbai,August 01, 2024 Tata Motors Ltd.(TML) announced its results for quarter ending June 30, 2024. Q1FY25 Consolidated (₹ Cr Ind AS)Jaguar Land Rover (£m, IFRS)Tata Commercial Vehicles (₹Cr, Ind AS)Tata Passenger Vehicles (₹Cr, Ind AS) FY25Vs. PYFY25Vs. PYFY25Vs. PYFY25Vs. PYRevenue108,0485.7%7,2735.4%17,8495.1%11,847(7.7)%EBITDA (%)14.4-15.8(50) bps11.6220 bps5.850 bpsEBIT (%)8.430 bps8.930 bps8.9240 bps0.3(70) bpsPBT (bei)8,828₹3,287crs693£258m1,535₹598crs173₹(13) crs Tata Motors Consolidated: TML delivered astrong performance in Q1 FY25 with revenues at ₹108.0K Cr (up 5.7%), EBIT of ₹9.1KCr(+ ₹0.9KCr), EBIT margin of 8.4% (+30bps).JLR revenues grew by 5.4% to £7.3bwithEBIT margins of 8.9% (+30bps) driven by favourable volume, mix and material cost improvements. C...

1Aug

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Business News, Feature, National News

Kotak – GOQii Smart Vital Plus smart watch launched

Mumbai, 01 August, 2024. Kotak Mahindra Bank Ltd (“KMBL” / “Kotak”) has teamed up with GOQii to launch the Kotak - GOQii Smart Vital Plus smartwatch, revolutionizing the way customers make payments. Priced at INR 3499, this innovative wearable device combines contactless payments with health monitoring features. Powered by RuPay On-The-Go, the smartwatch enables seamless transactions up to INR 5000 without requiring a PIN. Launching the product, Rohit Bhasin, Head – Retail Liabilities Product & Chief Marketing Officer, Kotak Mahindra Bank said, “With the rise of digital payments, customers seek fast and cashless payments for frequent, low-value transactions. The Kotak – GOQii Smart Vital Plus smartwatch eliminates the need for cash, cards, or smartphones, enabling secure and seam...

1Aug

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Automobile News, Business News, Feature, National News

Demerger of CV business undertaking of Tata Motors Ltd into a separate listed company

Mumbai, August 1, 2024 In furtherance to the announcement made on March 4, 2024, the Board of Directors of Tata Motors Limited (TML), today, has approved a Composite Scheme of Arrangement amongst TML, TML Commercial Vehicles Limited (TMLCV), Tata Motors Passenger Vehicles Limited (TMPV) and their respective shareholders under Sections 230-232 and other applicable provisions of the Companies Act, 2013 (“Scheme”). As a part of the Scheme, TML will demerge its Commercial Vehicle undertaking involving the Commercial Vehicle business (all the assets, liabilities and employees relating to the Commercial vehicle business) and all its related investments into TMLCV.Further, pursuant to the Scheme, the existing Passenger Vehicle business in TMPV, will be merged into TML, the existing listed e...