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 […]
Icra-rated securitised pools have shown healthy performance, with collection efficiencies ranging from 92 to 107 per cent across all asset classes in FY2024 so far, aided by a favourable operating environment, rigorous collection efforts, and adoption of digitised processes. Housing loans (HL) and loans against property (LAP) pools have showcased steady collections in FY2024 so […]
Payments through digital means in India are hitting fresh highs, as its citizens are increasingly adopting the emerging modes of transacting on the internet. In February, transactions worth Rs 18.2 lakh crore were made through Unified Payments Interface (UPI) with a staggering 122 crore number of transactions. The transactions made last month through the popular […]
Harsh Chaudhary, former Chief Experience Officer (CXO) of monetisation at Meesho, the low-price e-commerce platform, has departed from the firm to join Flipkart, a direct competitor of Meesho. Chaudhary’s move follows his two-year tenure at Meesho and marks a significant addition to Flipkart’s leadership team. As per media reports, Chaudhary’s departure adds to a string […]
Grasim Industries has secured Rs 1,250 crore (approximately USD150 million) from the International Finance Corporation through non-convertible debentures. This capital infusion is earmarked for bolstering the company’s newly launched paints venture, Birla Opus. To prioritise sustainability, Birla Opus is committed to maximising the utilisation of renewable energy sources and implementing water recycling initiatives across its […]
E-commerce marketplace Flipkart, owned by US-based retail giant Walmart, has witnessed a substantial dip in valuation, plummeting by approximately USD 5 billion or around Rs 41,000 crore as of January 2024 compared to its value in January 2022. This decline is revealed through equity transactions executed by Walmart, Flipkart’s parent company. According to Walmart’s restructuring […]
A recent report by the consumer insights think tank, The Bharat Lab, has highlighted significant shifts in consumer spending patterns among Indian consumers in tier-2, tier-3, and rural markets. Drawing insights from the household consumption expenditure survey report for 2022-23, the report underscores a notable trend wherein consumers in these markets are allocating more of […]
