Nykaa noted the positive trajectory of long-term macro indicators such as robust GDP growth, stable interest rates and increasing GST collections, reflecting India’s strong consumer-driven economic growth. However, the short-term pressures have impacted discretionary consumption, affecting Nykaa’s beauty and personal care (BPC) vertical. The company anticipates mid-twenties growth in gross merchandise value (GMV) and around […]
Kidbea, a bamboo-based kids fashion brand has raised USD 1 million in funding in the Pre-series A round led by early-stage investment firm Venture Catalysts. The funding round also saw involvement from Agility Ventures and BestVantage Investments, as well as notable figures in the industry such as Sandeep Agarwal and Upasana Agarwal, founders of Droom, Ashok Bahadur, alongside […]
Dabur, a major player in fast-moving consumer goods, encountered challenges in the third quarter of the current financial year, with projections indicating potential impacts due to a weaker winter, as per insights from Emkay, a brokerage firm. Despite these challenges, expectations point to approximately 7 per cent growth in consolidated revenue and a 9 per […]
Country Delight, a direct-to-consumer (D2C) fresh foods brand has raised around USD 20 million (around Rs 164 crore) in a funding round led by Singapore’s sovereign fund Temasek, which is one of its backers. In addition to Temasek-owned asset management business Seviora, which invested through its agriculture and food-focused investment vehicle, Seviora T3F Fund, another […]
UNIREC, a sustainable brand from India has closed a seed funding round, securing a substantial investment of USD 190,000 (1.5 Crore in INR) from BeyondSeed, a leading Singapore-based seed fund. The USD 190,000 ( Rs 1.5 Crore) seed funding, exclusively provided by BeyondSeed, is strategically allocated to help in market expansion and intensify research and […]
The Income Tax department reportedly levied a Rs 4,000 crore fine on Shree Cement following a survey indicating improper claims of Rs 8,500 crore over nine years. Conducted at five locations in June last year, the survey focused on deductions under section 80IA of the Income Tax Act from April 2014 to March 2023, as […]
Invesco, the US-based asset management company, has once again revised the valuation of Indian food delivery giant Swiggy, raising it to USD 8.3 billion, according to recent regulatory filing. This marks the second consecutive adjustment to Swiggy’s valuation by Invesco. As of 21 October 2023, Invesco held 28,844 shares in Swiggy, with a total value […]
Dabur said in a third-quarter report on Thursday that it anticipates consolidated sales to climb in the mid to high single digits, a small improvement over the July-September period. The company which is the producer of Real juice, Homemade sauces, and Chyawanprash stated in a stock exchange filing that its foods and beverages business, which […]
The Reserve Bank of India (RBI) has extended the deadline for the implementation of a new penal charges regime by three months from 1 January 2024 to 1 April 2024. This extension applies to new loans, while existing loans must be switched to the new penal regime by 30 June 2024. It is important to […]
The Indian rupee ended slightly stronger on Thursday, aided by dollar inflows, even as most of its Asian peers were on the back foot as investors moderated their expectations of early US rate cuts this year. The rupee ended at 83.23 against the US dollar, higher by 0.05 per cent compared with its close at […]
