Shares of Honasa Consumer, which owns the brand Mamaearth, were fully subscribed on Day 3 of its initial public offering. Data showed the company’s public issue has so far been subscribed over 7 times, with retail investors at 1.13 times, non-institutional buyers 3.94 times, and qualified institutions at 11.50 times. The public issue of the […]
The US Federal Trade Commission (FTC) has filed a lawsuit against Amazon, alleging that the ecommerce giant employed a series of illegal strategies to maintain its position as a dominant force in the online retail market. The FTC’s case, made public in US District Court in Seattle, claims that Amazon’s actions have harmed both consumers […]
Bakery food company Britannia Industries reported a 19.55 per cent year-on-year (YoY) increase in consolidated net profit at Rs 586.50 crore in the second quarter ending September 2023, primarily attributed to a decline in commodity prices. The company posted a net profit of Rs 490.58 crore, according to the company’s regulatory filing. While net sales […]
FMCG giant Godrej Consumer Products reported a 20.59 per cent year-on-year (YoY) rise in its net profit at 433 crore for the quarter gone by, compared to the last year in the same quarter at 359 crore. The company’s revenue increased to Rs 3,601 crore for the quarter that ended on 30 September, from 3,391 […]
Burger Singh, the burger chain, is expanding into South India. Rahul Seth, Co-founder of Burger Singh, responsible for the brand’s expansion, says “We are not only actively looking to partner with enterprising young entrepreneurs but are also looking forward to significantly investing in the region to expand into newer geographies and cities. This is part of the […]
Adani Wilmar delivered a strong quarter with volume growth of 18 per cent YoY in H1’24 and 11 per cent YoY in Q2’24. The robust growth was supported by gradual improvement in consumer demand, lower edible oil prices, execution in GTM and efficient supply chain. The branded sales in both edible oil and foods grew […]
The Centre government has decided not to sell its significant shares in ITC. ITC is India’s top firm with ventures ranging from cigarettes to hotels. As per reports in the media, the government’s shares are protected by the Specified Undertaking of the Unit Trust of India (SUUTI). Currently, SUUTI holds a 7.87 per cent equity in ITC, […]
Ambuja Cements, owned by the Adani Group, has reported a significant four-fold increase in its standalone net profit, reaching Rs 643.84 crore for the quarter ending in September 2023. This marks a notable surge compared to the net profit of Rs 138.9 crore in the same quarter of the previous year. The company’s standalone revenue […]
Indian telecom operator Bharti Airtel on Tuesday reported a drop in second-quarter profit, hurt by a one-time exceptional loss. Consolidated net profit fell to Rs 1,341 crore for the quarter ended on 30 September, from Rs 2,145 crore a year ago. The results included an exceptional cost of Rs 1,570 crore. Airtel and rival Reliance […]
Gillette India’s Profit After Tax (PAT) saw an increase due to strategies focused on premium products and improved productivity, although it was partially offset by a one-time expense. Excluding this one-time factor, the operational PAT showed a 14 per cent growth compared to the previous year. The company’s revenue from operations for the quarter ending […]
