Friday, April 18

Business News

Business News Jaipur, Jaipur Business News

Shoppers Stop Q4 consolidated net profit rises 62.55 pc to Rs 23.18 cr
No Comments
Business News, Feature, National News

Shoppers Stop Q4 consolidated net profit rises 62.55 pc to Rs 23.18 cr

New Delhi, April 29, 2024.Retail chain Shoppers Stop Ltd on Monday reported a 62.55 per cent rise in consolidated net profit at Rs 23.18 crore in the fourth quarter ended March 31, 2024.The company had posted a consolidated net profit of Rs 14.26 crore in the same period a year-ago, Shoppers Stop said in a regulatory filing.Consolidated revenue from operations during the quarter under review stood at Rs 1,046.34 crore as against Rs 923.90 crore in the corresponding period of the previous fiscal.
Read More
Ola Cabs CEO Hemant Bakshi resigns
No Comments
Business News, Feature, National News

Ola Cabs CEO Hemant Bakshi resigns

New Delhi, April 29, 2024.Ola Cabs CEO Hemant Bakshi has resigned from his position, marking an unexpected departure merely four months into the role.The ride-hailing arm of ANI Technologies is reportedly gearing up for a restructuring initiative that is anticipated to impact approximately 10% of its workforce or 200 employees, added the report quoting sources familiar with the matter.Bakshi's resignation, effective immediately, follows his appointment to the company in January to oversee day-to-day operations
Read More
Jio’s new recharge plans with free JioCinema Premium
No Comments
Business News, Feature

Jio’s new recharge plans with free JioCinema Premium

New Delhi, April 29, 2024.Jio recently slashed the subscription price of JioCinema Premium to Rs 29 a month, which offers access to international shows and movies with up to 4K resolution. If you are a Jio network user, you do not even have to subscribe to this plan as the company is offering a complimentary JioCinema Premium subscription plan on select recharge plans.Jio currently offers four entertainment plans, also known as JioTV Premium plans, that offer access to various OTT platforms, including JioCinema Premium for free. When recharged with these plans, Jio will offer a coupon, which can be redeemed on JioCinema for a free premium subscription.Jio Plans with OTT subscriptionPriceValidityData benefitsCall benefitsUnlimited 5GOTT subscriptions14828 days10 GBNANA12 OTT sub...
Read More
Sony’s ‘summer sale’ offer: PlayStation 5 Slim available at Rs 49,990
No Comments
Business News

Sony’s ‘summer sale’ offer: PlayStation 5 Slim available at Rs 49,990

Jaipur, April 29, 2024.Sony announced a ‘summer sale’ offer on their recently launched PlayStation 5 Slim model. The console will be available at a discounted price of Rs 49,990.The deal will go live on May 1 and will be applicable until May 14 or until stocks last on platforms like Amazon, Blinkit, Croma, Flipkart, Reliance, Sony Center, Vijay Sales, and other participating retailers.
Read More
ICICI Bank shares gain after Q4 results
No Comments
Business News, Feature

ICICI Bank shares gain after Q4 results

New Delhi, April 29, 2024.ICICI Bank shares surged over 3% to reach an intra-day high of Rs 1,142 on Monday after the private sector bank announced its Q4 results over the weekend.The bank reported a consolidated net profit of Rs 11,671.52 crore, marking an 18.4% year-on-year increase. Its total income also witnessed a significant rise of nearly 25% year-on-year, reaching Rs 67,181.70 crore for the same period.Motilal Oswal maintained a ‘Buy’ rating on ICICI Bank, with a revised Target Price of Rs 1,300 per share. The brokerage highlighted that the bank's stable quarter was driven by robust Net Interest Income (NII) and disciplined management of operating expenses and provisions.Despite a slight slowdown in Net Interest Margin (NIM) contraction, ongoing pressure on funding ...
Read More
HCLTech shares plunge over 6% after Q4 results
No Comments
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.
Read More
TechMahindra reports 29% increase in PAT, Board recommends dividend of Rs 28 per share
No Comments
Business News, Feature, National News

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...
Read More
Toyota Kirloskar Motor Unveils“TGLOSS”: A Comprehensive Car Detailing Solution
No Comments
Automobile News, Business News, Feature, National News

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...
Read More
Tata Motors inaugurates new commercial vehicle spare parts warehouse in Guwahati
No Comments
Automobile News, Business News, Feature

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...
Read More
Boult launches first-ever soundbars in India, priced starting Rs 4,999
No Comments
Business News, Feature

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 ...
Read More
Mahindra achieves tractor sales milestone of 40 lakh units
No Comments
Automobile News, Business News, Feature, National News

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.
Read More
Jeep Wrangler facelift launched in India, priced from Rs 67.65 lakh
No Comments
Automobile News, Business News, Feature

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...
Read More
Audi India announces price revision effective June 01, 2024
No Comments
Automobile News, Business News, Feature, National News

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.
Read More
BMW i5 M60 electric sedan launched in India, priced at Rs 1.20 crore
No Comments
Automobile News, Business News, Feature

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...
Read More
Meta shares fall 15% on weak revenue forecast, higher AI spending
No Comments
Business News, Feature, National News

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.
Read More
Axis Bank overtakes Kotak Mahindra Bank, becomes 4th largest lender by market cap
No Comments
Business News, Feature, National News

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. 
Read More
WhatsApp begins rolling out passkeys for iPhone users
No Comments
Business News, Feature, National News

WhatsApp begins rolling out passkeys for iPhone users

New Delhi, April 25, 2024.Keeping our conversations private is really important to all of us, especially when we are talking to friends or family on instant messaging apps like WhatsApp and Telegram. Lately, WhatsApp has been adding new features to make sure our messages stay private and our time on the app is smoother. And now, there's some exciting news for iPhone users. WhatsApp has begun rolling out passkey verification for iOS users. The feature was made available to Android users about six months back. This feature is meant to make it easier and safer to verify our accounts. Let's take a closer look at what this is all about.The passkey feature rollout on iOS comes half a year after WhatsApp initially introduced passkey support for Android users. With this update, iOS users w...
Read More
50 years of Swaraj: Company unveils limited edition tractor variants, new CSR program
No Comments
Automobile News, Business News

50 years of Swaraj: Company unveils limited edition tractor variants, new CSR program

New Delhi, April 25, 2024.Leading tractor manufacturer, Swaraj Tractors, celebrated its 50th anniversary earlier this week by unveiling limited edition variants for its XM, XT and FE range of tractors. The Mahindra Group firm also announced its new CSR program, Skilling 5000.The first tractor to roll out of the Swaraj plant in Mohali, Punjab, was the Swaraj 724 (26.5hp) on April 14, 1974. In 2007, Mahindra acquired Swaraj's parent, Punjab Tractors Ltd, and created Swaraj Division. Swaraj crossed sales of 20,00,000 units in 2022.
Read More
Mercedes-Benz G-Class electric makes global debut
No Comments
Automobile News, Business News, Feature, National News

Mercedes-Benz G-Class electric makes global debut

Jaipur, April 25, 2024.The Mercedes-Benz G 580 with EQ Technology has finally made its debut. This is the full name given to the electric G, which will make its public debut in China. The G 580 is expected to be launched in India alongside the facelifted G-Class as part of Mercedes-Benz India's product offensive.What the engineers had set in their minds was that the G 580 will outperform its combustion engined G when driving off the road. Unlike the other electric cars from Mercedes-Benz which have the EQ prefix, like the EQC, EQB, EQS the electric G is the only one which gets a completely different name. This also tells just how important of a model the G 580 with EQ Technology is.
Read More
Swiggy secures shareholders’ nod to raise over Rs 10,400 cr via IPO
No Comments
Business News, Feature, National News

Swiggy secures shareholders’ nod to raise over Rs 10,400 cr via IPO

Jaipur, April 25, 2024. Food and grocery delivery major Swiggy has received shareholders' approval for an initial public offering to raise Rs 10,414 crore fund through issue of fresh equity shares and an offer for sale, according to sources.A special resolution was passed at an extraordinary general meeting of Swiggy on April 23, they said.According to sources, the Bengaluru-based company plans to raise up to Rs 3,750 crore funds through fresh equity shares, in addition to an offer-for-sale component of up to Rs 6,664 crore.
Read More
Tech Mahindra Q4 net profit tanks 41 pc to Rs 661 cr
No Comments
Business News, Feature

Tech Mahindra Q4 net profit tanks 41 pc to Rs 661 cr

New Delhi, April 24, 2024. IT services company Tech Mahindra on Thursday reported about 41 per cent year-on-year fall in its consolidated net profit to Rs 661 crore for the quarter ended March 2024.The net profit in the year-ago period was Rs 1,117.7 crore.For Q4FY24, the Tech Mahindra's revenue dropped by 6.2 per cent to Rs 12,871 crore.
Read More
SBI General Insurance logs 28 pc jump in profit at Rs 240 cr in FY’24
No Comments
Business News, Feature, National News

SBI General Insurance logs 28 pc jump in profit at Rs 240 cr in FY’24

New Delhi, April 25, 2024.SBI General Insurance on Thursday reported a 27.6 per cent rise in net profit at Rs 240 crore for the financial year ended March 2024.The non-life subsidiary of State Bank of India had recorded a net profit of Rs 188 crore in the previous financial year.The company also demonstrated strong growth in overall business clocking a Gross Written Premium (GWP) of Rs 12,731 crore, registering a growth of 17 per cent over the previous year, SBI General Insurance said in a statement.
Read More
Verified by MonsterInsights