Homegrown egg startup Eggoz has set its eyes on becoming a profitable venture by the end of the current calendar year 2024. In an interview with ANI, Abhishek Negi, one of the three founders of the startup Eggoz Nutrition, said it expects to break even in the next 8-10 months. The Gurugram-based startup, which currently […]
Food delivery platform Zomato has been slammed with tax demand and penalty worth Rs 23.26 crore from Karnataka tax authorities. However, Zomato believed it had a strong case on merits and it will raise an appeal against the order before the appropriate authority. The demand order for the interest penalty and overuse of the input […]
CareEdge Ratings estimates bank credit growth in India to be in the range of 14-14.5 per cent in financial year 2024-25. In current financial year 2023-24, credit offtake is anticipated to close with a growth of around 16 per cent excluding the HDFC merger. According to the rating agency, the effect of the HDFC merger […]
In February, credit card spending in India surged by 26 per cent year-on-year (YoY) reaching Rs 1.5 lakh crore as per data from the Reserve Bank of India (RBI). This growth occurred despite some restrictions on business payments and increased risk associated with retail lending. With the rise in credit card transactions, brokerage firms are […]
Myntra, the fashion platform owned by Flipkart, announced on Tuesday that it has achieved operational profitability since October last year. According to the company, its marketplace entity has been earnings before interest, taxes, depreciation and amortisation (EBITDA) positive since the last quarter of calendar year 2023, marking the first time the firm has achieved this […]
The retail sector received a total of USD 494 million in funding in Q1 2024 to date which is a 34 per cent drop compared to USD 751 million raised in the same period Q4 2023, according to a report by Tracxn. However, India Tech Quarterly Funding Report – Q1 2024 stated that it is […]
Oil prices surged in Asian trading on Monday as escalating conflicts in the Middle East and between Russia and Ukraine raised concerns over tighter global supply. Brent crude futures climbed 39 cents to USD 85.82 a barrel, while US crude futures gained 40 cents to USD 81.03 per barrel. The tensions between Russia and Ukraine […]
Amidst a technology sector downturn, Flipkart surprises its workforce by offering a 100% bonus to all employees and implementing merit-linked payouts for eligible staff. This initiative, extended to the majority of its approximately 22,000 employees based on eligibility criteria, reflects Flipkart’s commitment to recognising employee performance and effort. In a letter addressed to employees, Flipkart […]
Credit growth in India is expected to moderate down to 12-14 per cent on a yearly basis over the financial year 2024-25-2026-27 from the current 16.5 per cent, according to Emkay Institutional Equities. The loan-to-deposit ratio (LDR) is expected to fall to a reasonable level of 75 per cent from the current high of 80 […]
DOMS Industries (“DOMS”), a leading stationery and art materials provider, has ventured into the manufacturing and retailing of bags, including school bags, pouches and related items, to fortify its presence in the back-to-school market. The Board of Directors of DOMS approved the acquisition of a 51 per cent stake in SKIDO Industries (“SKIDO”) with an […]
