Blue Star, a leading home appliances company, has announced plans to invest Rs 250 crore in the next financial year to enhance the manufacturing capacity of room air conditioners at its Sri City facility in Andhra Pradesh. Currently, the company boasts a production capacity of 10 lakh room air conditioners across its manufacturing units, including […]
Quick commerce company Zepto has been exploring the introduction of platform fees alongside handling charges and delivery fees to enhance its profitability. Zepto has initiated a platform fee of Rs 2 per order, in addition to handling charges varying between Rs 5-20 based on factors such as order size, location, and time of day. This […]
The National Payments Corporation of India (NPCI) has on Thursday approved One97 Communications (OCL), which operates popular fintech company Paytm, to participate in UPI as a Third-Party Application Provider (TPAP) under the multi-bank model. Four banks (Axis Bank, HDFC Bank, State Bank of India, YES Bank) shall act as PSP (Payment System Provider) banks to […]
Meesho, a leading ecommerce marketplace, made headlines on Wednesday with the announcement of its Employee Stock Ownership Plan (ESOP) buyback programme valued at an impressive Rs 200 crore. This initiative stands as the largest ESOP buyback pool in the company’s history, benefitting approximately 1,700 present and past employees. Under this programme, both current and former […]
German sportswear giant Adidas posted its first loss in more than 30 years in 2023 on Wednesday as CEO Bjorn Gulden works to turn the brand around after a messy break-up with rapper Kanye West. Adidas has been battling to right itself after it cut ties with West in October 2022, suspending sales of the […]
The bank credit to micro, small and medium enterprises (MSMEs) has improved and is currently at 19.3 per cent year-on-year (YoY) in January 2024. Ealier it was 15.1 per cent of total non-food credit, according to the Jocata Sumpoorn Index. The index remained stable at 0.57 in January and fluctuated within the range of 0.53 […]
In a major relief to PC Jeweller, State Bank of India (SBI) has accepted the One Time Settlement (OTS) proposal submitted by the company, as per the disclosure made by the company to the stock exchanges on 13 March. The terms of the out-of-court settlement (OTS) proposed by P C Jewellers include a cash and […]
Vishal Mega Mart is reportedly planning a USD 1 billion initial public offering (IPO) that would value the company at up to USD 5 billion. The IPO proceeds are intended to fund the addition of new stores, according to sources familiar with the matter as reported by Reuters. Switzerland’s Partners Group and India’s Kedaara Capital, […]
India’s retail inflation rate slightly decreased to 5.09 per cent on an annual basis in February compared to 5.10 per cent in the previous month, according to data released by the Ministry of Statistics & Programme Implementation (Mospi) on Tuesday. The rate has stayed within the Reserve Bank of India’s (RBI) tolerance band of two […]
Beyours, a player in the direct-to-consumer fashion segment, reported a revenue leap from 6 crore last year to 14-15 crore this year and has set an ambitious target of 50 crore for the next fiscal year. This growth trajectory is backed by its robust sales strategy, with 90 per cent of sales generated through the […]
