News Bulletin

ITC Reports 3.1% Rise in Q2 Net Profit Amidst Tough Conditions

ITC's Q2 performance showed resilience with a 3.1% increase in net profit to ₹5,078.3 crore, amid high inflation and increased input costs. The company's revenue grew by 16.8%, driven by strong sales in its FMCG and hotel segments. ITC’s diversified business model, ranging from FMCG to agriculture, has allowed it to mitigate the impact of economic challenges and maintain steady growth

Hindustan Unilever to Spin Off Ice Cream Division

Hindustan Unilever Limited (HUL) is set to separate its ice cream business, viewing it as a high-growth category that currently contributes 3% to total revenue. This move reflects HUL's strategy to focus on specialized markets, and it highlights the increasing consumer interest in niche categories, especially as disposable incomes rise. The company is expected to enhance focus on premium segments, with a possible expansion of product lines and marketing efforts​

Tata Motors Secures $2 Billion Investment from Private Equity Firms

Tata Motors has finalized a $2 billion investment deal with major private equity players, aiming to accelerate its electric vehicle (EV) expansion plans. The funds will be utilized to enhance the EV manufacturing capacity and invest in next-gen automotive technologies. This investment highlights the growing interest of institutional investors in India's green energy transition and the automotive sector's transformation.

ICICI Bank Enters Strategic Partnership with Fintech Startup

ICICI Bank has announced a partnership with a leading fintech startup to offer innovative digital lending solutions. This collaboration aims to streamline the loan approval process, making it faster and more user-friendly. The bank plans to integrate advanced analytics and AI-driven models from the fintech firm to assess creditworthiness, reducing processing times significantly. This aligns with the industry's push for more data-driven banking solutions.

RBI Grants Licenses for 3 New Small Finance Banks

In a move to bolster financial inclusion, the Reserve Bank of India (RBI) has issued licenses for three new small finance banks. These banks are expected to cater to underserved segments, especially in rural and semi-urban areas. The new entrants are set to focus on microloans and small business financing, ensuring easier access to credit for individuals and entrepreneurs who are often left out by traditional banks.