The spring/summer end-of-season sales have been advanced by a week with brands having high inventories due to weak demand in May because consumers avoided shopping in the hot month.
Online play is a priority now -- so far unthinkable in a business that's all about a meaningful interface with kirana stores.
Paris restaurants struggle in Olympic security zones
Sebi's mandate restraining mutual funds, stock brokers, and other intermediaries from associating with finfluencers who do not come under the Sebi ambit will impact the earnings of finfluencers through sponsorships, tie-ups, or referral links, as these may dry up due to the restrictions.
Union Finance Minister Nirmala Sitharaman will review the performance of regional rural banks (RRBs) after the Budget session of Parliament, according to two people familiar with the matter. The finance minister will review the performance of RRBs after August 13. The review will include discussions on enhancing the digital capabilities of RRBs, said a senior government official.
Kotak Mahindra Bank on Tuesday announced that its joint managing director K V S Manian, a veteran at the private sector lender, has stepped down with immediate effect. Manian, who had been with the lender for nearly three decades, was elevated in a management rejig in January.
In the first quarter (Q1) of the ongoing financial year ending June 30, Westlife Foodworld, which operates McDonald's outlets in the South and West, reported an 88 per cent drop in net profit. While net sales remained flat, its same-store sales growth (SSSG) fell by 6.7 per cent, impacted by "subdued in-store business, although the off-premise segment saw positive same-store sales", the company said.
India's thriving mutual fund (MF) industry is drawing interest from several firms, with multiple applications submitted to the Securities and Exchange Board of India (Sebi) for asset management company (AMC) licences.
Fintech firm One97 Communications, which owns Paytm brand, on Friday said its loss has widened to Rs 840 crore in the quarter ended June 30, primarily due to continued impact of restrictions on Paytm Payments Bank Ltd. The company had posted a loss of Rs 358.4 crore in the same period a year ago, according to a regulatory filing by the company. The consolidated revenue of Paytm declined 33.48 per cent to Rs 1,639.1 crore during the reported quarter, from Rs 2,464.2 crore in the same period a year ago.
Passenger vehicle retail sales in India witnessed a 5 per cent on-year decline in August on account of delayed customer purchases, poor consumer sentiment and persistent heavy rains, industry body FADA said on Thursday. The overall passenger vehicle (PV) registrations last month stood at 309,053 units, as compared to 323,720 units in August 2023.
Flush with funds, quick commerce unicorn Zepto is planning to relocate from Powai in Mumbai to a larger office space in Bengaluru's Sarjapur to accommodate its imminent new hires. While the company will maintain an office in Mumbai, its primary operations will shift to the new space in Bengaluru. A spokesperson for Zepto confirmed the development
Three different invitations were sent out for the wedding and the receptions with top-run guests being sent a large red box that contained an intricate chest incorporating a mini silver temple featuring gold idols of various Hindu deities, including Lord Ganesh, Radha-Krishna, and Goddess Durga.
Japan's Softbank investment arm Softbank Vision Fund exited from Paytm in the June quarter at a loss of around $150 million, sources aware of the development said. Softbank invested about $1.5 billion in One97 Communications -- the owner of Paytm brand -- in tranches in 2017. "Softbank has exited Paytm at a loss of 10-12 per cent.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Mukesh Ambani's Jio Financial Services (JFS) is set to seek shareholders' approval for its leasing subsidiary to acquire telecom equipment and devices worth Rs 36,000 crore ($4.33 billion) from Reliance Retail. Jio Leasing Services Limited (JLSL), a wholly-owned subsidiary of JFS, plans to enter the device leasing business, and the equipment will be deployed in broadband wireless connectivity and other services.
Companies like Flipkart, Amazon and Meesho as well as quick commerce ones like Blinkit, Zepto and Swiggy Instamart may create hundreds of thousands of seasonal jobs for the coming festival season.
'There's significant interest from both existing and new sponsors who recognise the value of associating with Olympic athletes.'
There is a definite attempt to put the landslides on the backburner because news of them and climate change worry Wayanad's tourism and real estate businesses greatly. Whatever I experienced of Wayanad's 2024 by-elections; the July landslides were not a burning issue, observes Shyam G Menon.
The Bombay high court on Friday quashed the amended Information Technology rules aimed at identifying through a fact checking unit "fake and false" content against the government on social media platforms, holding it as unconstitutional.
Fintech firm One97 Communications, which owns the Paytm brand, on Wednesday said its loss in the fourth quarter of the financial year 2023-24 has widened to Rs 550 crore following the ban imposed by the RBI on transactions related to its payments bank. The company had posted a loss of Rs 167.5 crore in the same period a year ago, the company said in a regulatory filing. "Our fourth quarter FY24 results were impacted by temporary disruption on account of UPI transition etc. and permanent disruption because of the PPBL embargo.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
The Centre has increased the area granted to individual players by more than four fold in order to boost mining of critical minerals. Issuing an order on Tuesday, the government said, for mining leases, the area has been expanded from the current limit of 10 sq km to 50 sq km. For prospecting licences (granted in the case of composite licence), the limit has been increased from 25 sq km to 100 sq km.
Markets regulator Sebi has barred industrialist Anil Ambani, 24 other entities, including former key officials of Reliance Home Finance from the securities market for five years for diversion of funds from the company. Sebi has imposed a penalty of Rs 25 crore on Ambani and restrained him from being associated with the securities market including as a director or Key Managerial Personnel (KMP) in any listed company, or any intermediary registered with the market regulator, for a period of 5 years.
Under regulatory scanner, Bengaluru-based Ola Electric has witnessed an uptick in its sales after facing a decline during the last few months. The company's daily average sales rose to 1,154 units in October, according to Vahan data from the Ministry of Road Transport and Highways (MoRTH). With sales reaching 17,315 units between October 1 and October 15, the company has also boosted its market share to 34 per cent, up from 27 per cent in September, in the electric two-wheeler (e2W) segment.
Hospitality players want the government to accord infrastructure status to hotels to make investments on new properties more attractive rather than categorising them as luxury or even 'sin goods' in the upcoming Union Budget considering the sector's potential to play a key role in India's growth. They also want the government to consider incentives in the form of tax breaks or subsidies for adopting sustainable and eco-friendly practices, while asserting that the upcoming budget must accelerate the tourism agenda saying it is an opportunity to make Indian hospitality the emerging engine for GDP growth and employment generation.
'Bilateral trade has suffered seriously because of the growing unrest.' 'There is a standstill on both sides amid the curfew.'
Cash-strapped edtech firm Byju's is likely to pay its employees the April salaries this week, according to sources. The company is grappling with the issue of delays in paying salaries to employees. "There has been a delay in salary. It is expected to be now paid sometime this week," said a person.
Late Ratan Tata always ensured employees are taken care of along with the well-being of their families across the Tata Group companies, which shaped a number of leaders across the conglomerate, and there really was no one like him, Tata Sons chairman N Chandrasekaran said on Monday. Recollecting his association with Tata (86) who passed away last week, in a post on networking platform LinkedIn, he wrote, "Anybody who met Mr Tata came away with a story about his humanity, warmth, and dreams for India. "There really was no one like him."
Shrimant Madhavrao Scindia Stadium, build on the outskirts of the city, will make its international debut on Sunday. Organising an international match in a smaller centre does have its fair share of challenges but host MPCA is ready despite a few hiccups.
People in large numbers participated in the India Day Parade held in New York, United States.
'Customers are coming in; if they aren't buying, they are at least visiting the stores, which was not the case before the Budget.'
In a step towards investor awareness, the Securities and Exchange Board of India (Sebi) has directed companies planning to launch initial public offers (IPOs) to release a 10-minute video containing key information related to the issue. The initiative is to make it easier for investors to understand the features of the public issue and the company.
These companies join the likes of other global firms Hyundai, Suzuki, Toyota, KFC, and Pizza Hut which have also apologised for social media posts by their business associates in Pakistan supporting Kashmir Solidarity Day following backlash in India and call for boycott of their products.
Chattopadhyay was seen being taken out of his residence at Subhasgram in South 24 Parganas district around 2 pm by ED officials, who previously conducted search operations at the premises for over seven hours.
India SME Forum, an organisation for small and medium businesses, has called for creating a dedicated fund of Rs 5000 crore for the export capacity development, promotion, and marketing of Micro, Small & Medium Enterprises (MSMEs) in its Budget recommendation. The forum for MSMEs with over 98,000 members said that to enhance India's global competitiveness and increase its market share in global exports, it was "crucial to increase the number of active exporters and enable at least 3-4 lakh first-time micro, small, and medium exporters while supporting them in promoting Indian products globally."
Days after saying that there is no need for subsidies to achieve greater penetration of electric vehicles (EVs), Union Minister of Road Transport and Highways Nitin Gadkari on Monday clarified that the view is his own, but any official call on EV subsidies is not one that he can take.
Did Jeff Bezos decide against endorsing Harris because it would hurt his business interests? Only God and Bezos know, and neither of them are talking, notes Prem Panicker.
'There is not any negative connotation associated with it.'
Chief Minister Arvind Kejriwal was 'party to the criminal conspiracy' of the formulation and implementation of the Delhi Excise Policy since the beginning, the Central Bureau of Investigation (CBI) has alleged in its latest supplementary charge sheet in the case.
