The Ministry of Labour and Employment has proposed a significant change in the Provident Fund (PF) to enhance the financial security of retirees by increasing their monthly pension. The proposal is to raise the wage ceiling for PF contributions by ₹6,000 under EPFO. This could significantly increase the maximum pension payout for organised sector employees …
Zen Technologies Limited, a prominent player in the defence simulation and technology sector, has achieved a significant milestone with the granting of a patent for its innovative Mine Detection System in India. This breakthrough underscores the company’s dedication to developing cutting-edge solutions for the Indian defence forces. The patented system incorporates advanced GPS/GIS technology to …
On August 19, 2024, Glenmark Therapeutics Inc., USA, announced the launch of its new over-the-counter eye drop product, Olopatadine Hydrochloride Ophthalmic Solution USP, 0.1%. This product’s active ingredient is similar to that found in Pataday® Twice Daily Relief. According to Nielsen® data for the 52 weeks ending July 13, 2024, Pataday® Twice Daily Relief (OTC) …
Veranda Learning Solutions, a leading provider of end-to-end educational solutions, has announced its entry into the Middle East market through its renowned brand, J.K. Shah Classes. In collaboration with Jumeira University Connect, the company will offer a Chartered Accountancy (CA) preparation course tailored for students in the UAE. This strategic move marks a significant milestone …
Central Bank of India is poised to acquire Future Enterprises’ stakes in 2 insurance joint ventures, Future Generali India Insurance Co. and Future Generali India Life Insurance Co. This move comes as the debt-ridden conglomerate undergoes insolvency proceedings. The state-owned bank emerged as the preferred bidder for the insurance assets, out-competing other interested parties, including …
Maruti Suzuki India has announced a significant one-time impact on its profit after tax due to the withdrawal of indexation benefits on long-term capital gains from debt mutual funds. This change, introduced in the Finance (No.2) Act 2024, necessitates an increase in deferred tax liability by approximately ₹850 crore. The removal of the indexation benefit …
TVS Motor Company has expressed optimism about its growth prospects for the current fiscal year, anticipating outperformance in both domestic and international markets. The company attributes this positive outlook to a combination of factors, including new product launches, strengthened operations, and favourable market conditions. Domestically, TVS expects sustained growth momentum bolstered by a promising agricultural …
Techno Electric & Engineering Company has entered into a strategic partnership with IndiGrid to jointly develop 2 greenfield Interstate Transmission System (ISTS) projects. Under this collaboration, Techno Electric will invest minority capital in IndiGrid’s Ishanagar Power Transmission Limited (IPTL) and Dhule Power Transmission Limited (DPTL) projects. Moreover, Techno Electric will assume full responsibility for executing …
Tourism Finance Corporation of India (TFCI) is set to diversify its operations by establishing an alternative investment fund and foraying into retail lending. Through these strategic initiatives, the company aims to bolster its loan book. TFCI has secured government approval for a significant capital infusion of ₹10,501 crore, which will be utilised to strengthen its …
On August 16, 2024, Urja Global Limited, a prominent player in renewable energy and electric vehicles, announced the upcoming launch of its new high-speed electric scooter, CHETNA. This advanced scooter has received the HoMoLoGATIoN CERTIFICATE and is designed to meet the needs of today’s families with its modern technology, stylish design, and safety features. Building …
