Flipkart had its best Big Billion Days (BBD) in 2023, driving Walmart’s foreign sales growth in the fourth quarter of FY24. During the quarter, the US-based retailer’s overseas sales rose 17.6 per cent year on year (YoY) to USD 32.4 billion. In constant currency terms, revenues for the category increased by 13 per cent YoY to USD 31.2 billion. Other […]
Yum Restaurants India is expected to exit quick service restaurant giant Devyani International by selling a 4.4 per cent interest in a block sale on Wednesday, according to media reports. Yum Restaurants expects to raise around Rs 815 crore from the deal, it said. The floor price for the sale has been set at Rs […]
US asset manager Davidson Kempner, owner of Britain’s Oak Furnitureland, is in talks with Superdry co-founder Julian Dunkerton about backing an offer for the clothes brand, Sky News said on Monday, the news agency Reuters reported. According to the article, the discussions are still in the early stages, and there is no certainty that Davidson Kempner […]
Rangita, a direct-to-consumer (D2C) Indian fashion brand from Stellaro Brands, revealed its expansion plans into the offline retail segment by launching two exclusive brand outlets in Andhra Pradesh. Rangita’s first two stores are now operational in Visakhapatnam and Kakinada in Andhra Pradesh and target the women age 20+ looking for affordable and trendy ethnic fashion […]
Future Consumer (FCL) has failed to pay Rs 132.97 crore in principle and interest on its Non-Convertible Debentures (NCD) issued to CDC Emerging Markets. It has failed to pay Rs 32.97 crore in interest and Rs 100 crore in principal, according to a regulatory filing on Friday by the debt-ridden Future Group’s FMCG unit. “The […]
Foreign enterprises’ direct investment in China climbed to its lowest level since the early 1990s last year, highlighting the country’s hurdles as Beijing seeks more outside investment to boost its economy. China’s direct investment obligations in its balance of payments increased by USD 33 billion last year, an 82 per cent decrease from 2022, according […]
Basil, a consumer houseware business, said on Monday that it has secured Rs 3.6 crore in initial investment from IIMA Ventures (previously IIMA-CIIE) and Appreciate Capital. Angel investors in the round included Mohit Sadaani, Co-Founder of The Moms Co., Aprameya Radhakrishna, Co-Founder of Koo, Abhishek Goyal, Co-Founder of Tracxn, Malini Adapureddy, Founder of Deconstruct, and […]
SEBI investigates as retail shareholders may have faced losses in controversial share purchase transaction Did India’s retail investors lose out in the share purchase and sale deal involving Axis Bank entities and Max Financial Group? Between March and April 2021, Axis Bank and it is related entities Axis Capital and Axis Securities purchased more than […]
The Indian government has once again raised the windfall tax on petroleum crude oil, this time to Rs 3,300 (USD 39.76) per metric ton, effective from 16 February 2024. This marks the second increase in two weeks, following a previous hike from Rs 1,700 to Rs 3,200 on 3 February 2024. Additionally, the government reintroduced […]
The Karnataka state government will adjust tax rates throughout the 18 slabs of Indian Made Liquor (IML) to preserve its earnings and avoid trade diversion to adjacent states. “In order to rationalise the tax slabs and make them competitive with neighbouring states, the tax slabs for IML and beer will be revised,” Chief Minister Siddaramaiah […]
