India's largest online retailer Flipkart on Wednesday announced the addition of two new members to its leadership positions, Vice President of Fashion (Retail) and the Vice President of HR (Supply-Chain).
'It says, we are not just an overseas player -- we are Kia India and here for good'
'Stick to FDs of shorter tenures, preferably one-two years.'
Profit from its retail business jumped 77 per cent to Rs 1,923 crore and that from telecom rose by 78.3 per cent to Rs 2,665 crore.
Union home secretary Ajay Bhalla issued an order excluding the non-essential items from sale by the e-commerce companies from the consolidated revised guidelines, which listed the exemption given to the services and people from the purview of the lockdown.
The Indian IT services sector is scrambling to retain talent since digitisation-led transformation has increased the demand for a digitally skilled workforce. As a result, the pull for jobs for tech professionals is also coming from non-IT sectors, leading to higher attrition among IT companies. The average number of tech jobs from non-IT sectors has seen a 41 per cent uptick in March-May'21 versus March-May'19, according to data from Naukri.com.
'We expect exports to touch Rs 1,000 crore by the end of the year.'
Facebook co-founder and CEO Mark Zuckerberg on Tuesday said India is a very special and important country with a remarkable entrepreneurship culture, as he sought to push deeper the just-launched payments services that allow users to make payments over WhatsApp. Last month, Facebook-owned WhatsApp received approval from the National Payments Corporation of India (NPCI) for rolling out its payments services in India. In 2018, WhatsApp started testing its UPI-based payments services in India -- a global first -- with about a million users.
With domestic retail fuel prices jumping to record high on rising international oil rates, India on Thursday pressed oil cartel OPEC for 'affordable' oil price within a 'reasonable band' and that the producers should phase out production cuts. OPEC nations such as Saudi Arabia have traditionally been India's principal oil source. But, OPEC and its allies, called OPEC+, ignoring its call for ease supply curbs had led to the world's third-biggest oil importer tap newer sources to diversify its crude oil imports. As a result, OPEC's share in India's oil imports has dropped to about 60 per cent in May from 74 per cent in the previous month.
Banks now ride on what is defined as a "banking outlet". This is a fixed-point service unit, manned by either the bank's staff or its business correspondent (BC), where all kinds of services - acceptance of deposits, encashment of cheques, cash withdrawal or lending of money - are provided for a minimum of four hours per day, for at least five days a week. Banks are now turning to reposition the manner in which they acquire customers, report Abhijit Lele and Raghu Mohan.
Under the new model, the IT services firm will replace the current structure of its various strategic business units, service lines and geographies with four strategic market units and two global business lines.
'We were taking the Starbucks experience from the store to the home.'
A seasonally-strong quarter, with no immediate impact of the second wave and continued acceleration of digital transformation will allow the IT services sector to report a robust Q1 this financial year. However, key metrics to look out for will be attrition rate and margin lever as they will be impacted by salary hikes. Analysts expect growth for the quarter to be broad-based, with sectors like banking, financial services and insurance (BFSI), retail, manufacturing, hi-tech and life sciences driving revenue growth. Analysts across brokerage houses are pegging revenue growth in the range of 1.5 per cent to 4.5 per cent.
A day after the Patna high court slammed the Bihar government for its poor handling of the second wave of the pandemic and sought to know whether it was enforcing lockdown or not, the administration on Tuesday announced imposition of lockdown from May 5 to May 15.
The delivery staff who drop off packages for online retail giants or food or ferry passengers around the city in their taxis are among the worst affected by the capital's foul air.
India Inc is either shutting loss making businesses or is hiving off allied verticals to enhance revenues.
ITC has extensively reset its strategy and will explore opportunities to craft disruptive business models to set up structural drivers helmed by digital and sustainability for its next horizon of growth and make the company future-ready, chairman Sanjiv Puri said on Wednesday. The company is pursuing an accelerated journey to build a dynamic utureTech' enterprise by investing in cutting-edge digital technologies to shape a new paradigm of competitiveness, create innovative business models and tap newer opportunities, he said while addressing shareholders at ITC's virtual annual general meeting. As part of the next horizon vision, the company is "proactively exploring inorganic opportunities" even as it has shrunk "business segments that were incongruent to our growth aspirations, such as the Lifestyle Retailing Business" while the existing growth platforms comprising megabrands will be scaled up and fortified.
The future of cryptocurrencies in India appears uncertain but that has not deterred young Indians from embracing the so-called 'fourth industrial revolution' world, where interconnectivity and smart automation, much of it relying on blockchain technology, drive human civilisation. Reserve Bank of India (RBI) Governor Shaktikanta Das has repeatedly warned of macroeconomic instability and even "serious consequences" if cryptocurrencies turn mainstream. The country's monetary authority wants a China-like total ban on crypto, not even allowing these currencies to be treated as investments. Though Parliament's website had listed the Cryptocurrency and Regulation of Official Digital Currency Bill as one seeking a total ban of cryptocurrencies in the country, it was not presented in the Winter Session. India now has the highest number of cryptocurrency investors in the world.
Customers are increasingly preferring to pay through EMIs while buying high-value consumer items, as affordability has become a key factor in the post-pandemic scenario, payments solution provider Ezetap said on Thursday. Buying ability of consumers across the country has been significantly reduced due to the pandemic. They are either avoiding a single big payment or entirely skipping to buy any new item, Ezetap said.
'We will continue to refine our operating model to drive more simplicity and nimbleness.'
The acquisition of Walmart India adds a strong talent pool with deep expertise in the wholesale business that will strengthen Flipkart's position to address the needs of kiranas and MSMEs uniquely.
The share of public sector undertakings (PSUs) in the total market capitalisation of listed companies--at an all-time low of 10 per cent currently --- may get a leg-up from the government's divestment push. Recently the government announced the successful sale of national carrier Air India to Tata Sons, India's first privatisation of a PSU since 2002-03. The transaction is expected to be completed by December.
With inflation remaining at elevated levels, central banks around the world, including the Reserve Bank of India (RBI), will kill excess demand in economy over the next six to eight months, sources in the know said. They also indicated that there could be a rate hike in June, when the inflation forecast for the current financial year would be raised. The RBI, the sources said, might announce more steps such as raising the limit on held-to-maturity (HTM) bonds to support government borrowings but might not come out with any further quantitative easing GSAP (Government Securities Acquisition Programme) measures.
Seven years after it announced Nexa, there's no mistaking the seriousness with which Maruti wants the segment to grow, says Pavan Lall.
The Chinese smartphone maker's focus on offline retail has helped it overtake Samsung in top 50 cities in India.
Along with Lord Ganesha and goddess Laxmi, electronic gadgets will also enter the pantheon of Hindu gods this Diwali.
Analysts expect RIL to report consolidated revenue of Rs 1.40 trillion and 10 analysts expect RIL's net income to be Rs 9,629 crore
The liquidity-fuelled rally will continue for some time, however, fundamentals are getting stretched.
Companies whose products have not been picked up for distribution in Gujarat under a "non-cooperation movement" include Marico, Dabur, Emami, Britannia, Reckitt Benckiser, and Godrej Consumer Products.
De Beers' branded jewellery is available across the world.
Nearly 45 per cent of this value is likely to be delivered by 3 sectors - consumer goods and retail, agriculture and banking and insurance, the Nasscom report said.
The country's largest carmaker Maruti Suzuki India (MSI) on Monday reported a 11.8 per cent increase in wholesales to 164,469 units in February. The company had sold 147,110 units in February last year, Maruti Suzuki India (MSI) said in a statement. Domestic sales increased 11.8 per cent to 1,52,983 units last month, as against 1,36,849 units in February 2020, it added.
The phased reopening and regulated relaxations of many key industries have paved the way for a slight recovery in hiring activities but hiring is still down by 47 per cent in July 2020 compared to the same month last year.
The change in leadership at the railway ministry comes at a time when the national transporter is grappling with low passenger earnings even as it is trying to increase freight loading and open up its doors to private investment. Union Minister Ashwini Vaishnaw took charge from Piyush Goyal who got the railway portfolio in 2017 after Prime Minister Narendra Modii dropped Suresh Prabhu from the Union Cabinet. Completing freight corridors, negotiating land for the bullet train, and speeding up monetisation plans would be some of the major focus areas for Vaishnaw.
Tepid growth in verticals like banking and finance, healthcare, retail and automotive will drag overall IT spends in the current year, reports Debasis Mohapatra.
Nature's Basket is changing its offering. Its new strategy zeroes in on pushing joint ventures, focusing on private labels and reentering Delhi.
Under its door-step delivery model, consumers can shop at any of the three Future Group-owned convenience formats - Easyday, Nilgiris and Heritage - both online or offline.
Physical format stores are here to stay.
Bezos' total net worth hit $65.05 billion
