BlissClub, a Bengaluru-based direct-to-consumer (D2C) activewear brand focused on women, witnessed a significant surge in its operating revenue, reaching Rs 68 crore for the financial year ending 31 March 2023. However, the company also experienced increased losses, amounting to Rs 36 crore, marking a fourfold rise compared to the same period in the previous year, […]
China has pledged to provide consular protection and assistance to two Chinese employees of smartphone maker Vivo who were recently arrested by Indian authorities. The foreign ministry spokesperson, Mao Ning, emphasised China’s firm support for Chinese companies in safeguarding their lawful rights and interests. He urged India not to discriminate against Chinese companies and expressed […]
The Tea Board India has issued a directive urging tea estates and small tea growers across the country to refrain from using chemicals or pesticides that lack a label claim for tea on their plantations. The directive, issued by Rajnigandha Seal Naskar, the Tea Board’s controller of licensing, on 21 December, specifically advises against the […]
FirstCry, an ecommerce platform focused on mother and childcare products, is set to introduce its initial public offering (IPO) in the early months of the upcoming year. Preceding the IPO launch, Softbank Vision Fund has divested a significant portion of its shares in the company. Softbank, the primary shareholder in retailer FirstCry, has sold off […]
Adani Wilmar’s plan to meet the minimum public shareholding requirement involves its two promoter entities, Adani Commodities and Lence Pte, intending to sell approximately 1.6 crore shares, which represents 1.24 per cent of the company. This move aligns with regulatory obligations set by the Securities and Exchange Board of India, mandating companies to maintain a […]
India’s FMCG sector is expecting double-digit volume-led growth on diverse catalysts in the year 2024 after struggling with challenges in the year 2023, the news agency PTI reported. Weaker festive demand, rainfall deficit, unseasonal rains and high commodity prices made the year difficult. Marico MD and CEO Saugata Gupta expects the demand situation to improve […]
India’s attempt to use the rupee for crude oil imports has not been given the desired outcomes, said the Oil ministry. The suppliers have expressed concerns about repatriating funds and high transactional costs. As per international trade practice, the default payment currency for all contracts for importing crude oil is the USD. However, to globalise […]
Ola electric’s move marks a milestone as it aims to raise Rs 5,500 crore in a landmark IPO, drafts papers and presents key risk factors to potential investors to SEBI. This move sets the stage for the first-ever public listing by an Indian EV firm, disrupting the market and fueling the EV revolution. The proposed […]
The manufacturing sector growth in the country could reach USD 1 trillion by 2025-26 and Gujarat is expected to play a significant role in achieving this milestone, according to a report by Colliers India. According to its study, Gujarat achieved the highest investment in the manufacturing sector in the year 2023 and it is the […]
As per a recent note on the Indian jewellery retail industry, Icra has revised upwards its forecast of the year-on-year (YoY) domestic jewellery consumption growth (in value terms) for FY2024 to ten to 12 per cent from eight to ten per cent estimated earlier, primarily driven by the rise in gold prices. Jewellery consumption is […]
