Contract manufacturing startup Zetwerk, on Thursday, said it achieved a gross merchandise value (GMV) of ₹17,564 crore in FY24, reflecting a 35% growth from the ₹13,050 crore GMV recorded in the previous fiscal year. The company operates a vast network of 15,000 contract manufacturing partners, supplying industrial equipment to sectors such as renewables, electronics, and
Nestle India has clarified that the suspension of the most favoured nation (MFN) clause granted to India by Switzerland will not affect its operations. The company described the development as a “policy issue” between the two governments and not specific to Nestle. On December 11, the Swiss government suspended the MFN status granted to India
IPO-bound cloud kitchen operator Rebel Foods, announced on Thursday, that global investment firm KKR has acquired a stake in the firm. The deal which is part of an extended Series G funding round, sees $60-70 million come in at a flat valuation of $1.4 billion, according to sources familiar with the transaction. Also ReadHamps Bio
By Mihika Sharma The Indian rupee hit a record low of 85.08 against the dollar on December 19, 2024, following hawkish guidance from the FOMC. So far this month, the rupee has depreciated by 0.7%. However, this is still better than the depreciation seen in other currencies like the Indonesian rupiah (2.8%), South Korean won
Nasdaq-listed IT services major Accenture has raised its annual revenue growth forecast for fiscal 2025 to 4-7%, up from the earlier projection of 3-6%. The revision is attributed to a reduced negative impact from foreign exchange fluctuations, now expected to be approximately 0.5%, compared to the 1.5% projected earlier. Accenture’s performance and outlook are of
JSW Infrastructure, India’s second-largest private port operator, has outlined an ambitious capital expenditure plan of Rs 30,000 crore to increase its cargo-handling capacity to 400 MTPA by FY30. The port operator has planned brownfield projects at three locations and aims to initiate greenfield developments at three additional sites to establish new ports. To strengthen its
Pharmaceutical giant Dr Reddy’s Laboratories (DRL) saw its shares surge 4.34% on Thursday in an otherwise sluggish market, reaching an intraday high of Rs 1,330.45 following an upgrade by Nomura. The Tokyo-based brokerage has upgraded the stock from ‘Neutral’ to ‘Buy’ with a revised target price of Rs 1,500, down from Rs 6,499, factoring in
By Ajay Srivastava The record gold imports last month widened the trade deficit and pushed the rupee to an all-time low. While a calculation error may have led to overestimating the imports, there could be other factors at play also, explains Ajay Srivastava Record imports in November India’s gold imports reached an all-time high of
The GIFT Nifty indicated that the Indian equity indices will open on a flat to negative note as they take indications from early trading Asian indices that were trading mixed. The US markets closed the session on a positive note on Friday. However, last week, investor sentiment was struck by a salvo of tariff news.
Investors, gear up. This week (March 9-15) is packed with full of key corporate actions, from dividend payouts to stock splits and bonus issues. Several well-known companies, including Bharat Electronics (BEL), Sun TV, GR Infra, and HUDCO, are set to trade ex-date. Let’s take a look into the details of what is happening and how
The stock market is buzzing with action. If you’re confused about which stocks to keep an eye on, here is a comprehensive overview of all the stock-related news that made headlines. You can keep a hawk-eye on these stocks today, March 10. Stocks in Focus: From HCL Technologies to Tata Power, you can read about
Fireside Ventures, which has backed brands like Mamaearth, BoAt, Slurrp Farm, cult.fit, Pilgrim and The Sleep Company, believes the middle class isn’t shrinking but evolving into multiple consumer personas. Dipanjan Basu, co-founder and partner at Fireside Ventures, tells Anees Hussain that this transformation presents an opportunity for new brands that established players struggle to address.
By Anand James We started last week pointing at the seasonality advantage that March holds, in a frantic search for a glimmer of hope amidst the sell on rallies mode that had persisted until then. One of the silver linings was that since 2016, when the Nifty Midcap150 and Smallcap250 indices experienced two consecutive months
