Food delivery aggregator Swiggy's losses widened 2.24 times to Rs 3,628.9 crore during last financial year, as its expenses surged 227 per cent in a year. This is even as the decacorn's revenue jumped more than twofold to Rs 5,704.9 crore in FY22, according to details from company research platform Tofler. While the company's losses surged from a base of Rs 1,616.9 crore in FY21, its total expense in FY22 touched Rs 9,748.7 crore, from Rs 4,292.8 crore a year ago.
Online food delivery platform Zomato was on Tuesday forced to clarify over the road safety of its delivery partners as its plans to start instant 10-minute food delivery faced backlash on social media. Zomato founder Deepinder Goyal, who had on Monday announced the company's plans to start a pilot of 'Zomato Instant' with four stations in Gurugram from next month, took to social media to clarify that there are no penalties for late deliveries and no incentives for on-time deliveries for both 10-minute and 30-minute deliveries. The 10-minute delivery will be for specific nearby locations, popular and standardised menu only, he said in a series of tweets.
Retail inflation declined to an 18-month low of 4.7 per cent in April mainly due to falling prices of vegetables, oils and fats, and came closer to Reserve Bank's target of 4 per cent, showed government data released Friday. It was for the second month in a row that Consumer Price Index (CPI) based inflation remained within the RBI's comfort zone of below 6 per cent. The government has tasked the central bank to ensure retail inflation remains at 4 per cent with a margin of 2 per cent on either side.
The tablets are bio equivalent generic version of GlaxoSmithKline's Requip XL tablets
'...is to crack the first project.' 'If you become popular from that, it's a win-win.'
The government on Wednesday extended by three months its programme to provide free rations to the poor at a cost of Rs 44,762 crore as it looked to ease pain from high inflation and make political gains in the upcoming Gujarat elections.
India plans to phase in cash transfers of food and kerosene subsidies from September, saving 10-15 per cent of the $21 billion in annual outlays on the benefits by eliminating fraud, a senior finance ministry official said on Thursday.
On Oct 14, the Maharashtra unit of FDA had ordered recall of entire stock of Kachha Mango Bite from the marketplace.
Debates over introducing Bt brinjal, the first genetically modified food crop in India, might have taken a different turn if the government had taken note of studies by one of its own R&D bodies, the Indian Council of Agricultural Research, showing that indigenous methods of controlling the notorious fruit and shoot borer can be as effective, cheaper and more environment friendly than using chemical pesticide.
Online food delivery platform Zomato has decided to narrow its focus on three key areas of food ordering and delivery; supplies to restaurants through 'Hyperpure' and quick commerce, company Chairman Kaushik Dutta said on Tuesday. In his address to shareholders at the company's annual general meeting, Dutta said the move was part of strategy to focus "only on areas that have the potential to become meaningfully large businesses ten years from now". In FY22, he said Zomato was able to achieve strong top line growth while keeping its "adjusted EBITDA burn under control", despite multiple challenges such as disruptions due to Covid-19 pandemic, macro-economic uncertainty, rising inflation, fuel prices, among others.
Mutual funds (MFs) lapped up shares of new-age businesses in April at a time when most of these stocks have recovered sharply from their 52-week lows. Nykaa and Zomato featured in the list of top 10 most bought shares by MFs last month, with fund houses' holdings in these two stocks rising by over Rs 1,100 crore, shows a report by Nuvama Alternative & Quantitative Research. Shares of Zomato had staged some recovery in April after remaining subdued for an extended period.
While there may be quite a few substitutes to tomatoes, some of these options can be considered if you want to make changes to your daily consumption, suggests Sheetal Somaiya.
Ever thought vegetable jalfrezi & murg malai tikka would be available at the South Pole?!
Benchmark indices ended in the green on Tuesday after retail inflation dipped below the RBI's upper tolerance level of 6 per cent for the first time in 11 months in November. The 30-share BSE Sensex climbed 402.73 points or 0.65 per cent to settle at 62,533.30. During the day, it jumped 437.35 points or 0.70 per cent to 62,567.92. The broader NSE Nifty advanced 110.85 points or 0.60 per cent to end at 18,608.
The alliance would announce a coordination committee, which could be of 11 members from principal opposition parties.
Sunny loves her outfit... Manushi goes to Abu Dhabi... Arjun has a new DP...
The rally was addressed by BJP national general secretary Ram Madhav.
Israel's ministry of defence and the Israel defence forces on Sunday said they are planning to evacuate another 14 communities close to the Lebanese border, The Times of Israel reported.
Hyderabad, Mar 28 (PTI) Dr Reddy's Laboratories Limited has launched Levocetirizine tablets (5mg), a bio-equivalent generic version of Xyzal tablets in the USA market, the company said on Monday.
Adulterated food can cause cancer, insomnia and other neurological problems, and adulteration is a growing concern across India
The anti-depressant drug market in the US is primarily ruled by Effexor XR (Venlafaxine) of Wyeth (now owned by Pfizer).
The debate on genetically modified crops was yet to reach a specific conclusion and safety issues should be discussed before marketting them.
Portfolios were distributed 2 weeks after the MVA govt was sworn-in. Shiv Sena's Eknath Shinde will be home minister while NCP's Jayant Patil will be finance minister.
Mumbai's Museum of Living History is truly a delight.
The Ministry of Home Affairs on Monday said the Missionaries of Charity's application for renewal of the Foreign Contribution (Regulation) Act (FCRA) registration was refused on December 25 for not meeting eligibility conditions as some adverse inputs were received.
Pharmaceutical and biotechnology major, Wockhardt has received final approval from the United States Food & Drug Administration for marketing the cardiac drug.
It's a small world and Bollywood knows that only too well. That's why they're always on the move!
Critics have even suggested that India is doing this because it is not prepared to take on the requirements of TFA, with a relatively weak trade infrastructure.
Sanjita Chanu had tested positive for an anabolic steroid during an in-competition testing at the National Games in Gujarat in September-October last year.
By throwing food at poverty that is result of faulty economics and lack of jobs, one is only trying to suicidal path.
The dairy major is transforming into a full-fledged F&B and fast moving consumer goods (FMCG) player, reports Vinay Umarji.
Zomato has lost over 9 per cent thus far in calendar year 2023 (CY23) and has underperformed the S&P BSE Sensex that has slipped nearly 5.3 per cent during this period. Despite this underperformance, analysts at HSBC think that the stock can hit Rs 87 going ahead - up over 64 per cent from the current levels. The food delivery industry, wrote Yogesh Aggarwal and Abhishek Pathak of HSBC in a recent note, has slowed considerably in the last few months.
Reliance Brands is in advance stage of talks to take over the India rights for premium makeup and beauty retail chain Sephora, from Arvind Fashions, according to two persons in the know. The Mukesh Ambani-led retail company is already in talks with developers to lease out stores for Sephora, said one of the above mentioned sources. While Reliance Brands was yet to answer Business Standard's query, an Arvind Fashions spokeperson, in an e-mailed response, said: "As per company policy, we do not comment on market rumours and speculation."
Prime Minister Narendra Modi on Friday embarked on a tour of Japan, Papua New Guinea and Australia to attend three key multilateral summits including that of the G7 grouping and Quad.
However, a prolonged and intense second wave that curtails oxygen supply to industries for a longer-than-expected period will exacerbate downside risk in affected sectors
Over half, or 269 NSE 500 stocks, have given over 10-fold (10x) returns in the last two decades, finds a recent report by Goldman Sachs that analysed 10 major markets across emerging and developed markets (EM/DM) that covered 6,700 stocks. The report examined '10-baggers' - stocks that have generated at least 10x total returns within a rolling 5-year period over the past two decades. Some of the prominent ones that comprise these 269 stocks in the Indian context stocks that delivered over 10x total returns over a 5-year rolling period since 2000 as per Goldman Sachs includes Westlife Foodworld, Bharti Airtel, Adani Total Gas, Patanjali Foods, Larsen & Toubro, BEML, Blue Star, Shree Cement, Lupin, Godrej Industries, Astral, Adani Enterprises, Hindustan Petroleum and Deepak Fertilisers.
The Indian services sector activity fell to a six-month low in September, as new business inflows rose at the slowest rates since March, amid inflationary pressures and competitive conditions, a monthly survey said. The seasonally adjusted S&P Global India Services PMI Business Activity Index fell to 54.3 in September, from 57.2 in August, highlighting the weakest rate of expansion since March. For the fourteenth straight month, the services sector witnessed an expansion in output. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
Arjun Kapoor's 37th birthday on June 26 was made of his favourite ingredients: girlfriend Malaika Arora, the city of romance Paris, and some great food.
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