Now Ratan Tata invests in speciality tea startup Teabox

first_imgRatan Tata, the former chief of the Tata Group who is currently chairman emeritus of Tata Sons, the Group’s holding company, has invested an undisclosed sum in a speciality tea start-up, Teabox. This is Tata’s fifth investment in a start-up this year. The announcement was made by Teabox in a media statement released on Wednesday.”His (Ratan Tata’s) direct guidance and experience in the tea industry will surely help us grow Teabox to be the first global premium tea brand from India,” said Kaushal Dugar, founder and CEO, Teabox.Teabox said that it procures premium tea directly from plantations in Darjeeling, Assam, Nilgiri and Nepal with the help of its warehouses in these places and sells them to customers worldwide. The four-year-old start-up raised $6 million in Series A funding in March 2015, taking the total fund raised to $7 million till date. Teabox was founded in 2012 by Kaushal Dugar and is backed by JAFCO Asia, Accel Partners, Keystone Group LP and Dragoneer Investment Group. Ratan Tata’s earlier investments in the current year are in technology and data provider Tracxn Technologies, pet dog care portal DogSpot, founded by Rana Atheya, cashback and coupon portal CashKaro, co-founded by Swati Bhargava and Rohan Bhargava, and baby care products retailer FirstCry.India is home to about 4,200 start-ups, according to software industry body, Nasscom. Recently, the government launched “Start-up India”, an initiative launched by Prime Minister Narendra Modi to encourage Indian start-ups.last_img read more

HDFC Bank Q4 net profit rises 18 employee strength falls by 6000

first_imgAn HDFC Bank branch office in Mumbai, October 21, 2015Reuters fileUpdate:HDFC Bank shares were trading with gains of 1.44 percent at Rs 1,483 crore after the private sector lender reported 18.25 percent rise in March 2017 (Q4) net profit to Rs 3,990 crore from Rs 3,374.22 crore for the corresponding period last year. This despite the bank’s provisioning for bad loans spiking by more than 100 percent to Rs 1,262 crore during Q4 from Rs 662 crore in the fourth quarter last fiscal.The number of employees stood at 84,325 as of March 31, 2017, down 6,096 from 90,421 as of December 31, 2016. Net interest income grew 21.1 percent YoY to Rs 12,501 crore from Rs 10,319.2 crore in the year-ago period.Total income stood at Rs 21,560 crore, up 14.3 percent from Rs 18,862 crore, YoY. Other income (non-interest) increased 20.3 percent to Rs 3,446 crore.Gross non-performing assets (NPAs) and net NPAs stood at 1.05 percent and 0.33 percent, respectively, as of March 31, 2017, almost unchanged on a sequential basis but up from 0.94 percent and 0.28 percent, respectively, as of March 31, 2016.The HDFC Bank board recommended a dividend of Rs 11 per equity share, up from Rs 9.50 per share for fiscal 2016.Deposits stood at Rs As of March 31, 2017, the bank had 4,715 branches and 12,260 ATMs.Original story:HDFC Bank were trading with modest gains on Friday ahead of quarterly and full-year results. The scrip was up 0.48 percent at Rs 1,469 on the BSE at around 12.30 pm.The private sector lender’s provisioning for bad loans will be interesting in the context of two other private banks — Yes Bank and IndusInd Bank — earmarking a higher amount for non-perforning assets (NPAs), in line with the RBI’s asset quality review norms.As of December 31, 2016, HDFC Bank’s gross and net NPAs stood at 1.05 percent and 0.3 percent of total advances.Yes Bank, which reported its results recently, had to set aside an additional Rs 228 crore in anticipation of likely losses arising from its exposure to Jaiprakash Associates Ltd.”As of 31 March 2017, the impact of divergences overall is at Rs 1,040 crore on which we have made 25% provisioning. This includes one borrower exposure of Rs 911 crore towards a Delhi-based cement company. However, this is a performing asset which has been servicing interest regularly. We expect to recover the amount in the near term,” Rana Kapoor, MD and CEO of the bank said, without naming the company. The exposure to Jaiprakash Associates and the consequent increase in higher provisioning was also the case for IndusInd Bank. “Provisions were elevated at INR4.3b as they included one-off amount of INR1.22b on a bridge loan for a cement M&A transaction (account remains standard), where the receivable is in June (likely to get reversed in 1QFY18),” brokerage Motilal Oswal Securities said in a note.The optimism for both the banks stems from the fact that Jaiprakash Associates had signed a deal with Aditya Birla Group company Ultratech Cement valued at Rs 16,189 crore for sale of its cement assets.Here is the video clip of HDFC Bank’s concall post declaration of Q3 results:last_img read more

Panchagarh road crash kills minor injures 10

first_imgA child was killed and ten others injured as a bus collided head-on with a truck in Buraburi area on the Panchagarh-Tetulia highway on Tuesday, reports UNB.The deceased is Limon, son of Belal Hossain resident of Khutaganj village of Shalbahan union. He was only three and half years of old.Among the injured, freedom fighter Hasan Ali Mia, 75, Khalek, 28, bus driver Reza, 38, truck driver Saddam, 30, Ripon, 20, Zakir, 35, and Khabirul, 40 were rushed to Rangpur Medical College Hospital.The accident took place when a Panchagarh-bound bus of Zahin Enterprise collided head-on with a Tetuila- bound truck, leaving Limon dead on the spot and injuring others, said Tetulia fire service acting in-charge Sirajul Islam.last_img read more

Woman killed as two cars collide in Dhaka

first_imgTwo cars collide in Dhaka killing a woman and wounding five. A collected illustrationA woman was killed and five of her family members were injured as an Uber car carrying them collided with a private car at Bata Signal intersection in the capital on Saturday morning, reports UNB.The deceased was Fulbibi, 55, wife of Abul Kalam, from Barishal.Kazi Shakil, sub-inspector of New Market police station, said the Uber car carrying six people overturned on the road around 7:30 am following a collision with the private car, leaving all six passengers injured.The injured were taken to Dhaka Medical College and Hospital where the physicians declared her dead.The family of Abul Kalam came to Dhaka from Barishal this morning for Abul Kalam’s treatment. The accident occurred when they were going to Dhanmondi from Sadarghat.last_img read more

Two arrested in Kolkata for betting on World Cup match

first_imgKolkata: Two people were arrested here for illegal betting in the cricket World Cup 2019 match between India and West Indies, a Kolkata Police official said on Friday. “Acting on a tip off, a team of officials conducted raids in different parts of the city on Thursday night and arrested Md. Inam alias Guddu from Tantibagan Lane area for allegedly betting on the match,” Joint Commissioner of Kolkata Police (Crime) Praveen Tripathi said. Two mobile phones used for betting were also seized from him. “Further raids were conducted based on the accused’s statement and one more person, Rajkumar Shaw was arrested on the same charges from Topsia area,” Tripathi added. A desktop and mobile phones used by Shaw for betting have been seized.last_img read more

Eating walnuts may help fight breast cancer

first_imgConsumption of walnuts may help suppress growth and survival of breast cancer, a study claims. The study, published in the journal Nutrition Research, found that consumption of two ounces of walnuts a day for about two weeks significantly changed gene expression in confirmed breast cancers. In this first clinical trial, women with breast lumps large enough for research and pathology biopsies were recruited and randomised to walnut consuming or control groups. Immediately following biopsy collection, women in the walnut group began to consume two ounces of walnuts per day until follow-up surgery. Pathological studies confirmed that lumps were breast cancer in all women who remained in the trial. The study showed activation of pathways that promote apoptosis or programmed cell death and cell adhesion and inhibition of pathways that promote cell proliferation and migration.last_img read more

Live News traffic and weather updates for North Staffordshire South Cheshire on

first_imgHello and welcome to StokeonTrentLive’s breaking news service bringing you all the latest updates from Stoke-on-Trent and North Staffordshire on Monday, February 18. Our team of reporters will be updating this live service with all the latest on the traffic and travel and weather updates – as well as news and entertainment through the day. We’ll be bringing you the very latest updates in our live news feed below. For the latest news and breaking news visit www.stokeontrentlive.co.uk Get all the big headlines, pictures, analysis, opinion and video on the stories that matter to you. Follow us on Twitter @SOTLive – the official Sentinel account – real news in real time. We’re also on Facebook – your must-see news, features, videos and pictures throughout Stoke-on-Trent, North Staffordshire & South Cheshire. Want to tell us about something going on where you live? Let us know – Tweet us @SOTLive or message us on our Facebook page . And if you have pictures to share, tag us on Instagram at StokeonTrentLive . 22:23M6 StaffordshireDelays cleared, earlier accident on M6 Northbound from J14 A34 (Stafford North) to J15 A500 D Road (Stoke-On-Trent).Lane one (of three) was closed for recovery work until around 21:45. Lane two re-opened at around 21:25. 20:28Planned roadworks20:19Live: Two lanes closed on M6 due to ‘multi-vehicle collision’ (Image: Highways England)Traffic had to be temporarily held on the M6 because of a ‘multi-vehicle collision’.The busy motorway had to be closed on the northbound carriageway between junction 14, Stafford North, and junction 15, Stoke-on-Trent, at 8pm this evening.Read more.19:27A34 Trent ValeSlow traffic on A34 Newcastle Road between Springfield Retail Park and A500 D Road (Hanford Interchange).19:21A50 accident A50 Eastbound partially blocked, queuing traffic due to accident, three vehicles involved at A5007 Victoria Place Link (Heron Cross / Fenton). Traffic is building towards A500 D Road, Officers on scene are currently awaiting recovery. 18:30M6 StaffordshireOne lane closed and slow traffic due to broken down lorry on M6 Northbound between M6 (Stafford Services) and J15 A500 D Road (Stoke-On-Trent). Lane one (of three) is closed. Stafford Services is located between J14 and J15.18:08A34 Trent ValeSlow traffic on A34 Newcastle Road between Springfield Retail Park and A500 D Road (Hanford Interchange). 17:41A500 D RoadUsual congestion on A500 D Road Southbound before M6 J15. 16:54Longport trafficUsual congestion on Brownhills Road / Davenport Street / Newcastle Street between A500 (Porthill Bank) and Tunstall. 16:29Moorland RoadMoorland Road busy but moving at A5272 High Lane / A5272 Hanley Road / Bank Hall Road (Smallthorne Roundabout).16:27A50 westboundQueuing traffic on A50 Westbound from Meir Tunnel towards the A500 D Road (Sideway Roundabout). 16:27A500 delaysHeavy traffic on A500 Queensway Northbound between A53 Etruria Road (Basford Roundabout) and A527 Porthill Road (Porthill Bank). Travel time is four minutes.16:03Chell StreetA5272 Chell Street busy but moving at A5272 Merrick Street / B5047 Hulton Street (Providence Square).16:02Old Mill Road, SandbachVery slow traffic on A534 Old Mill Road in both directions at M6 J17 (Sandbach / Crewe). Not helped by the M6 delays.15:32Porthill Road A527 Porthill Road clear at A500 D Road / Longbridge Hayes Road / Longbridge Hayes Road (Porthill Bank). 15:15Werrington Road, Bucknall A52 Werrington Road Westbound busy but moving before A52 Leek Road (Lime Kiln Traffic Lights). 15:09CrossCountry TrainsTrains not stopping between Stoke-on-Trent and Stockport and delays and some cancellations on CrossCountry Northbound between Stockport and Macclesfield due to points failure at Cheadle Hulme. Some services may be delayed or diverted via Crewe. 15:06A34 Trent ValeUsual congestion on A34 Newcastle Road between Springfield Retail Park and A500 D Road (Hanford Interchange). 13:16Slow traffic on A34 Newcastle Road between Springfield Retail Park and A500 D Road (Hanford Interchange). 13:16If you are heading north from the Midlands to the North West this afternoon, Long/Severe delays emerging #M6 J16 – J17 due to multi-vehicle collision. You may wish to consider your route, further details here: https://t.co/xXk9Eww6WB https://t.co/ylZsIuqYYq— Highways England (@HighwaysWMIDS) February 18, 201913:13#M6 J16 to J17 NORTHBOUND Multi vehicle RTCDue to the diesel spillage the c/way will need treating before we can open it as it is not safe for us to allow traffic to passIt is anticipated it will remain closed for the next couple of hoursPlease find an alternative route pic.twitter.com/IamwYcwuVB— North West Motorway Police (@NWmwaypolice) February 18, 201913:12Severe delays on M6The M6 northbound has severe delays of at least 90 minutes between J16 (Stoke-on-Trent/A500) and J17 (Sandbach) due to a multi-vehicle collision incident. Police and Highways England resources are working to clear the incident. All traffic is now stopped on the northbound carriageway between J16 and J17 with severe delays continuing to build.Strategic traffic heading to the North West from the Midlands and South regions this afternoon may wish consider alternative strategic routes.Road users should allow extra time for your journey.12:44Car fire at Sandbach servicesThe scene at Sandbach services (Image: Cheshire Police/Cheshire HGV Cops)More here.12:43One lane blocked and queueing traffic due to multi-vehicle accident on M6 Northbound between J16 A500 (Stoke-On-Trent / Crewe) and J17 A534 Old Mill Road (Sandbach / Crewe). In the roadworks area.Cameras show lanes one and three (of three) are blocked. Traffic is squeezing through using lane two. 12:03A5272 Chell Street clear at A5272 Merrick Street / B5047 Hulton Street (Providence Square). 12:03A527 Biddulph Road coming from Brinley Ford Southbound clear at A5272 High Lane roundabout. 10:19A527 Biddulph Road coming from Brinley Ford Southbound clear at A5272 High Lane roundabout. 09:28A500 fully open again now. Thanks— PenkhullPC (@PenkhullPC) February 18, 201909:09Police have closed the A500 after a man fell from a bridgeThe scene on the A500 (Image: Steven Brown)More here.08:39A500 D Road Northbound closed, stationary traffic due to police incident from B5045 to A53 Etruria Road (Basford Roundabout).Closed from 08:30.last_img read more