Retail inflation in India declined to 5.10 per cent in January due to an easing in food prices, according to the data released by the government on Monday. Inflation based on the Consumer Price Index (CPI) was 5.69 per cent in December last year. It was 6.52 per cent in January 2023. National Statistical Office […]
Indian stock indices started Tuesday’s session marginally in the green, bucking the trend from the previous session where they declined substantially due to profit booking and volatile global markets. Ease in domestic retail inflation also somewhat supported the indices today. Retail inflation in India eased in January to 5.10 per cent on an annual basis […]
WoodenStreet, a furniture brand, has launched of its seventh physical store in Creaticity Mall in Pune. The new launch spans across an area of 5000 sq. ft. The company aims to get closer to its customers and strengthen its foothold in Pune. With its new store, WoodenStreet plans to showcase a wide range of furniture […]
Amazon Seller Services, which handles the Amazon marketplace in India, said its US parent invested Rs 830 crore in the firm. Amazon Seller Services said it allocated 830 million equity shares to Amazon Corporate Holdings Ltd and Amazon.com.inc as part of the financial injection. On 19 January, Amazon invested Rs 350 crore in Pay (India), the […]
China’s Xiaomi said that smartphone component suppliers are hesitant about setting up operations in India due to the government’s severe surveillance of Chinese companies, the company said in a letter, according to Reuters. Xiaomi, which has the largest share of India’s smartphone market (18%), also requests in the letter dated Feb. 6 that India consider […]
Emerging technology brand Nothing is outperforming its own growth predictions, due to India’s tech-savvy consumers, Co-founder, Akis Evangelidis said at the conference on Saturday. He noted that the country’s strong digital infrastructure aided the brand’s success despite introducing its first product during the pandemic. “India is a big part of our focus. Its real savviness […]
JSW Group will set up electric vehicles and battery manufacturing projects in the country’s eastern state of Odisha for Rs 40,000 crore. The company and the state government have signed a memorandum of understanding “for the establishment of an Integrated Electric Vehicles (EV) And EV Battery Manufacturing Project” in two cities, they said in a […]
Honasa Consumer, which owns and runs Mamaearth, recorded a 265 per cent increase in total net profit of Rs 26 crore for the quarter ended December. It cost Rs 7.1 crore a year ago. Revenue from operations in the third quarter climbed 28 per cent year on year (YoY) to Rs 488 crore, up from […]
PepsiCo, a global beverage and food company, said on Friday that it expects “mid-single-digit” growth in the Indian market in 2023. According to the most recent financial report, PepsiCo’s global net sales will be USD 91.47 billion in 2023, representing a 5.9 per cent increase. PepsiCo stated that developing and emerging markets, including “China and […]
Sapphire Foods India, the operator of KFC and Pizza Hut restaurants, revealed its largest quarterly earnings drop since going public in 2021, hampered by local competition and inflation-weary consumers cutting back on fast food spending. The Yum Brands franchisee’s overall net profit plummeted roughly 69 per cent to 101.4 million rupees (USD 1.22 million) in the […]
