The FMCG sector is facing sluggish demand as it is becoming polarised with the middle class shrinking but simultaneously there being high demand for premium products, Nestle India chairman and managing director Suresh Narayanan said on Tuesday. He added that in bigger cities, a channel shift is also being noticed with people preferring e-commerce and
Retailers’ allegation of anti-competitive behavior against quick commerce companies like Blinkit, Zepto, and Swiggy Instamart may not result in anti-trust action against the latter, as these firms don’t meet the requirement of having dominant position in the relevant market, experts say. In a letter dated October 18, the All India Consumer Products Distributors Federation (AICPDF)
Reliance Infrastructure on Tuesday announced that it will be setting up an integrated project for manufacturing explosives, ammunition and small arms in Ratnagiri, Maharashtra. The company has been allotted 1,000 acres of land in the Watad Industrial Area of Ratnagiri to develop the Dhirubhai Ambani Defence City (DADC). DADC will be the largest greenfield defence
India’s export of petroleum products remained muted in the first half of the current financial year 2024-25, while the imports surged 10% for the period, as per data from Petroleum Planning and Analysis Cell. The country exported 31.0 million tonnes of refined oil products during April to September, almost unchanged from 30.7 million tonnes in
Adani Energy Solutions posted a more than two-fold jump in its Q2 FY25 net profit, reaching Rs 675 crore, compared to Rs 276 crore in the same quarter of the previous financial year. However, it missed analysts’ net profit estimate of Rs 888 crore. The strong profit growth was driven by a higher Ebitda, along
Food delivery major Zomato on Tuesday reported a profit surge of 388.9 per cent during the fiscal second quarter at Rs 176 crore in comparison to Rs 36 crore recorded during the corresponding quarter of previous fiscal year. It recorded revenue from operations at Rs 4799 crore, up 68.5 per cent as against Rs 2848
E-commerce major Snapdeal announced that it has witnessed 1.8 times growth in order volumes during the festive season sale till 15th October 2024. The growth is in comparison with last year’s festive season sales period. The e-commerce platform is focused on value segments and hosts high-quality, value -priced merchandise in key categories like home, fashion
Varun Beverages, one of the largest bottling partners of PepsiCo, on Tuesday reported a profit growth of 23.7 per cent for the third quarter of CY2024 at Rs 619.61 crore in comparison to Rs 501.07 crore recorded during the corresponding quarter of last year. It posted revenue from operations at Rs 4932.06 crore, up 25.3
Flipkart Internet, the marketplace arm of Walmart-owned e-commerce major Flipkart, has received Rs 3,249 crore from its parent entity based in Singapore. The board at Flipkart has issued 470,773 equity shares at an issue price of Rs 69,014.7 each on a right issue basis to raise Rs 3,249 crore from Flipkart Marketplace Private Limited (Singapore)
By Amit Chadha For decades, India was the nerve centre of IT services, revolutionising how businesses worldwide operate. But over the past few years, a new wave of transformation has been underway — one that redefines India’s position on the global innovation map. Engineering R&D (ER&D) is becoming the backbone of India’s growth story, driving
Large sections of Indian industry, including sectors that are seen to be relatively more vulnerable to the reciprocal tariffs by the US, appeared largely unperturbed on Wednesday ahead of the Donald Trump’s administration’s imminent disruptive move. Several key industries that have high interest in the lucrative US markets, including electronics, pharmaceuticals, auto parts, and gems
A day after declining by over 1.5% due to nervousness over US President Donald Trump’s looming reciprocal tariffs, Indian stock markets put up a brave face on Wednesday, with benchmark indices bouncing back and erasing over half the losses incurred earlier in the week. The rupee, on the other hand, closed a little weak, depreciating
UPI down: Users across India faced major disruptions in Unified Payments Interface (UPI) transactions on Monday, with payment failures reported on platforms like Google Pay, Paytm, and State Bank of India (SBI). According to Downdetector, outage reports surged throughout the day, peaking in the late afternoon and evening, affecting fund transfers, payments, and app functionality.
