FSN E-Commerce Ventures Ltd, the parent company of beauty retailer Nykaa, recorded a 3.4x growth in net profit at ~34.43 crore in the second quarter of FY26, up from ~10.04 crore in the corresponding period last year.
FSN E-Commerce Ventures (Nykaa) hosted its annual investor day recently. The responses were positive from analysts. Although some analysts pared FY25 and FY26 estimates, the bulk continued to issue 'buy' calls after the stock rose 2.5 per cent. The management expects the Beauty & Personal Care (BPC) business to grow at a 25 per cent compound annual growth rate (CAGR) during FY24-28.
SoftBank-backed internet commerce firm Meesho has downsized its grocery vertical Meesho SuperStore (formerly Farmiso) in an attempt to drive efficiency. The Bengaluru-based firm did not reveal the number of laid-off employees. However, the company officials said that about 150 employees have been laid off.
During a sale, many store windows invite the shopper with impossible-to-miss visuals announcing '50% Discount'. Only upon entering does the shopper realises that the one rack which fulfils this promise sells items she'd never purchase.
FSN E-Commerce Ventures, the parent of Nykaa, has had a roller-coaster ride since listing last November. The initial public offering (IPO) was priced at Rs 1,125 apiece, and the stock listed at a 96 per cent premium, closing the first day at Rs 2,205 apiece. It subsequently hit a high of Rs 2,573 in late November, but has seen steady selling since, hitting a low of Rs 1,208 in May.
The country's largest lender State Bank of India (SBI) will revamp its banking application (app) YONO and position it as a complete digital bank (DB) under a new rubric 'Only YONO' for enhancing customer experience and ease of use. The bank plans to bring in a consultant to help draw up the project plan, keeping in mind business goals for the next five years. With 54 million monthly active users (MAUs), SBI YONO has seen growth of over 35 per cent in MAUs in 2021.
After a recent fall in profit, Masayoshi Son of SoftBank announced that the Japanese tech investor will look at dramatic cost-cutting. Before he does that, investments in India for calendar year 2022 (CY22) will fall radically, observed sources in the know. Last year, the company had invested around $3.2-3.5 billion in the Indian start-up ecosystem - almost 10 per cent of the total investment the sector received. For CY22, the investments may not even touch $1 billion.
A poll ranking celebrities and their famous offspring based on style.
Mahindra & Mahindra has decided to dismandle its recently acquired Boeing plant in Melbourne, Australia, which makes machinery for aircraft, and shift it to Bangalore.
24 Lettered Mantra is the first of its kind superstore that offers organic food all round the year.
A look at star arrivals!
'The competition between the two is definitely going to be of great interest to the Indian market.'
In Sialkot, people found five empty ballot boxes near Kashmir Park in the Cantonment area, the report said.
The spending on a typical RT-PCR test would take up 23 per cent of the monthly income of an average Indian, compared to 2 per cent in China. This is one of the deepest cuts in the pocket of an individual, in comparison to 14 other countries, reports Abhishek Waghmare.
Amazon has also signed a term sheet with Kishore Biyani-led Future group to invest $600 million to $700 million for a 12 to 15 per cent stake in the retail giant, it is learnt.
'If you're going to tell me what a lame fossil I am, save it,' says Mitali Saran.
Nature's Basket is changing its offering. Its new strategy zeroes in on pushing joint ventures, focusing on private labels and reentering Delhi.
After months of anticipation (and 31,000 submissions from the British public), the Britain's Duchess of Cambridge's final selection of images for Hold Still is available to view on the National Portrait Gallery's website. Designed to "capture and document the spirit, the mood, the hopes, the fears and the feelings of the nation" during lockdown, the project brings together 100 moving amateur shots of everything from at-home haircuts to make-shift classrooms; exhausted NHS staffers on duty to dedicated postmen in superhero costumes; pensioners FaceTiming with their grandchildren to mothers cradling their newborn babies. Below, see 22 remarkable images from Hold Still - then head to the The National Portrait Gallery website for the full exhibition.
In the domestic market, the Tata Group has lost ground in the passenger car business.
From opening an account in a local bank to looking for festive and student discounts, here are some surefire ways you can save money on your education trip abroad.
The Parsi community runs India's respected corporate houses like the Tata, Wadia and Godrej groups.
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