Tata Starbucks has reported a net loss of Rs 24.97 crore from its operations in India for the fiscal year that ended on 31 March 2023, according to the business intelligence platform Tofler. However, its revenue from operations was Rs 1,086.89 crore for the same time, up 70% due to the inclusion of additional cafes […]
India is considering import duty cuts on components key to producing high-end mobile phones, two government officials said, which would potentially be a boost for companies like Apple and the country’s exports. Companies in the sector have been pushing for cuts on nearly a dozen components to reduce the cost of making smartphones in India […]
Consumer concern around the rising cost of living has eased slightly over the past year, with just 43 per cent now fearing their finances will worsen in the next few months, compared to 80 per cent who felt that way a year ago, according to the third edition of the Capgemini Research Institute’s annual consumer […]
The Baker’s Dozen (TBD), an artisanal bakery brand, has raised Rs 33 Crore in the pre-series A funding round. The investment round, was spearheaded by Wipro Consumer Care – Ventures, Fireside Ventures, Mirabilis Investment Trust and She Capital. This strategic investment will be channeled towards expanding TBD’s presence beyond metros, targeting growing markets in non-metro […]
Zomato, a food-delivery platform, recently said it would begin paying small restaurant partners daily, eliminating the current weekly payment structure. “Our discussions with various restaurant partners highlighted the financial challenges smaller eateries face, using the traditional weekly payout system. This feature is designed to address this critical need for more frequent access to earnings,” Zomato wrote […]
Polycab stocks plunged nearly 9 per cent following reports of a Rs 200 crore tax evasion. According to sources, the income tax department identified alleged transactions amounting to Rs 250 to 300 crore in the company’s promoter accounts. The company, however, has refuted these allegations. The stocks experienced significant losses and settled at Rs 4867, […]
Supam Maheshwari, CEO, and Co-founder of the mother and child care ecommerce platform FirstCry, purportedly sold 6.2 million shares before the company’s upcoming initial public offering (IPO). Media sources estimate the value of the shares he sold to be more than Rs 300 crore. Maheshwari, named as a selling shareholder in the draft red-herring prospectus […]
A recent report from Jefferies analysts revealed a 30 per cent decline in iPhone sales in China during the first week of 2024. The dip highlights escalating competitive pressures from local contenders, including Huawei, posing a formidable challenge for the US company in one of its crucial markets. Jefferies’ analysis indicates that the drop in […]
Samsung Electronics has reported a 35 per cent decline in its fourth-quarter operating profit, a figure much worse than analysts had anticipated. The world’s leading memory chip, smartphone, and TV manufacturer estimated its operating profit to be 2.8 trillion won (USD 2.13 billion) for October-December, down from 4.31 trillion won in the same period the […]
Stocks of Honasa Consumer, the parent firm of Mamaearth, surged by 10 per cent, hitting the upper circuit after reaching a record high of Rs 490.20 in the Monday trading session. This movement followed the exchange of 32.60 lakh shares, accounting for 1 per cent of the firm, during a block deal. The block deal […]
