Sunday, September 13
In a bid to shore up recovery, the country's second-largest public sector lender Punjab National Bank (PNB) has identified about 100 non-performing asset (NPA) accounts for sale to asset reconstruction companies (ARCs) during the current financial year."More than 100 accounts we have identified...the book size will be somewhere around Rs 4,000-5,000 crore. That is the outstanding book (for sale to ARCs)," PNB MD and CEO Ashok Chandra told PTI in an interview.Asked about the amount the bank can realise from the sale, he said, "We expect to recover something in the range of 40-50 per cent minimum. Through that route also, we are expecting a good recovery should happen this financial year".There may be an account where 100 per cent recovery is also going to take place because you have good se
A magnitude 6.1 earthquake struck Turkey’s northwestern province of Balikesir on Sunday, causing about a dozen buildings to collapse, an official said. At least two people were trapped in the debris of a collapsed building.The earthquake, with an epicenter in the town of Sindirgi, sent shocks that were felt some 200 kilometers (125 miles) away in Istanbul, a city of more than 16 million people.Sindirgi’s mayor Serkan Sak told HaberTurk that four people were rescued from a collapsed building in the town while rescuers were trying to reach two other people from the structure.Several houses also collapsed in the nearby village of Golcuk, he said. The minaret of a mosque also tumbled down in the village.Turkey’s Disaster and Emergency Management Agency said the earthquake was followed by
Home-grown FMCG maker Marico expects to deliver double-digit growth in the next one or two quarters in the domestic market, helped by its core franchises and expansion of new businesses, its Managing Director and Chief Executive Officer Saugata Gupta said.The company, which reported a 9 per cent rise in domestic volumes, now aims for a revenue growth of around 25 per cent this year, led by pricing actions, Gupta told PTI."As far as overall revenue is concerned, we should be able to deliver in the mid-20s to around 25 per cent this year, given the pricing initiation," he said.Marico, which owns brands like Saffola, Parachute, and Livon, has "consistently improved volumes in sequential terms, Gupta added."This (June) quarter, India Volume growth was up 9 per cent. So, high single-digit volum
Olectra Greentech on Saturday announced its results for the first quarter ended June 30, 2025, reporting a 7.3% year-on-year (YoY) growth in consolidated net profit at Rs 26.03 crore, up from Rs 24.25 crore. Revenue from operations surged 10.6% YoY to Rs 347.22 crore from Rs 313.93 crore in the corresponding quarter of the previous financial year.The company’s total income increased 11.6% YoY to Rs 342.89 crore, compared with Rs 307.31 crore in the year-ago period. On a quarter-on-quarter (QoQ) basis, net profit jumped 25.8% from Rs 20.68 crore in Q4FY25.In terms of segment-wise performance, Olectra Greentech posted strong YoY growth. The Insulator Division recorded a 46.5% rise in revenue to Rs 54.98 crore from Rs 37.51 crore in the same quarter of 2024. The E-vehicle Division grew 5.7%
Maruti Suzuki India has unveiled an exclusive limited-edition Grand Vitara 'Phantom Blaq' to mark the 10th anniversary of the NEXA channel.NEXA was launched in 2015 to bring a premium automotive retail experience to its discerning customers in India.According to Partho Banerjee, Senior Executive Officer of Marketing and Sales, the "Phantom Blaq" signifies rarity and luxury. It is a matte-finished vehicle with lavish interiors, bespoke alloy wheels, besides other "cool" features."If you look at the car, I think you will fall in love with it," Banerjee told ANI.He, in a way, teased prospective buyers to experience its premium appeal firsthand at their nearest NEXA showroom."So I would say only, please visit our NEXA showroom and experience the new Phantom Blaq," he added.The advanced 22.86cm
