Today’s Latest Business News: Tata Motors Announces Price Hike, Aasaan Loans IPO Opens, Air India to Launch Premium Economy Class, NHRC Notice to Ministry of Labour, Children’s Mutual Funds AUM Surges, Arvind Kejriwal’s Judicial Custody Extended, Equity Indices End in Mixed Territory
Tata Motors Announces Price Hike for Commercial Vehicles, Aasaan Loans IPO Opens, Air India to Launch Premium Economy Class, NHRC Notice to Labour Ministry Over Amazon Warehouse Conditions, Children’s Mutual Funds AUM Surges, Arvind Kejriwal’s Judicial Custody Extended, Equity Indices End Mixed – Here’s the Latest Business News Transcript at 5:30 PM on 19 June 2024
Tata Motors has announced a price hike for its range of commercial vehicles, with an increase of up to 2 percent effective July 1, 2024. This marks the third price hike for the year, as the CV range saw a 3 percent increase at the beginning of the year and another 2 percent in April 2024. The price hike is aimed at offsetting the impact of rising commodity prices.
In other news, Aasaan Loans has opened its IPO to raise Rs 132 crore, with bids being collected at a price range of Rs 114 to Rs 125 per equity share. The subscription will close on June 21, and the shares are expected to be finalised on June 24, with listing tentatively scheduled for June 26 on NSE and BSE.
Air India is set to launch premium economy class on selected domestic routes from July 2024, following in the footsteps of Vistara. The airline will offer premium economy seats on specific routes, with renovated aircraft to enhance the travel experience.
The National Human Rights Commission has issued a notice to the Union Ministry of Labour and Employment over alleged ‘anti-labour’ practices at Amazon’s warehouse in Haryana. The NHRC took suo motu cognizance of media reports detailing the harsh working conditions at the warehouse.
Children’s mutual funds have witnessed a significant surge in Assets under Management, reaching Rs 20,081.35 crore in May 2024, up from Rs 8,285.59 crore in May 2019. The category has shown impressive growth in returns over the years.
In a separate development, a Delhi court has extended Chief Minister Arvind Kejriwal’s judicial custody till July 3 in connection with the Delhi excise policy ‘scam’ case. The court made this decision after Kejriwal appeared via video conference, with his counsel objecting to the extension.
The benchmark equity indices ended Wednesday’s trading session in a mixed territory, with the NSE Nifty 50 dipping and the BSE Sensex gaining marginally higher. The Bank Nifty index ended higher, with Banking and Financial Services stocks outperforming among the sectoral indices.
Stay tuned for more updates on the latest business news.
