Saturday, September 05
Just after India recovered from the festive fever, another hangover has gripped Indians-- the wedding fever. From packed hotel lawns to crowded jewellery counters and brisk sherwani sales, India’s wedding season has opened with an energy that retailers and hospitality companies say is powering one of the strongest pre-year-end consumption spikes, as per TOI. Companies across categories are preparing for higher demand as 46 lakh weddings are projected to generate around Rs 6.5 lakh crore between November 1 and December 14, based on estimates by the Confederation of All India Traders. As per TOI, wedding expenditure is also rising across categories, from sarees to salons, with average spends moving higher. Raymond, which is seeing firm demand for its luxury suiting portfolio, said consump
India's sweeping labour code overhaul, effective November 21, has unleashed a fresh cost burden on the country's booming food delivery and quick commerce giants Swiggy and Eternal, threatening to shave up to 70 basis points off margins and trigger volatile stock swings as investors grapple with the sector's first major regulatory reset.The Ministry of Labour's implementation of the Code on Social Security, 2020, mandates that online aggregators contribute 1-2% of annual turnover, capped at 5% of gig-worker payouts, toward a dedicated social security fund covering health insurance, pension, maternity, and disability benefits for platform workers. For Eternal and Swiggy, the two largest players in India's hyperlocal delivery space, that translates into an immediate financial hit.JM Financial
For the past few years, solar energy has been one of the most powerful themes in India’s stock market. Names across the ecosystem, panel makers, developers, and EPC players, have delivered blockbuster returns as India rushed to add clean energy capacity and pushed companies to expand manufacturing aggressively. KPI Green Energy, for instance, has risen more than 600% in three years. Borosil Renewables has doubled in four years. Tata Power has delivered nearly 500% returns over five years. Adani Green, too, has doubled in two years.The standout star in this solar-led rally was Waaree Renewable Technologies, which delivered over 60,000% returns at one point before shifting to the mainboard. Websol Energy is another top performer, climbing tenfold in two years. Solar Industries India is no
Kolkata: Bajaj Electricals has put its loss-making Nirlep cookware unit on the block to focus on the core consumer electronics segment, two industry executives said. The company's board has cleared a restructuring of the cookware business, which operates in a separate channel and is weighed down by unprofitable factories.The 56-year-old brand, at one point synonymous with non-stick cookware, that Bajaj had acquired in 2018 for about ₹80 crore has no synergy with the company's larger electronics portfolio. The Bajaj family has sounded out potential buyers and talks are at an initial stage, executives said.The listed Bajaj Electricals, with a market cap of over ₹5,600 crore as of Friday's closing, wants to accelerate category expansion into 8-10 new areas that are being finalised and shi
With the world order looking wobbly, the European Union is eyeing to forge a broad global agenda in partnership with India and the two sides are set to firm up a free trade pact, a defence framework agreement and a strategic agenda at their annual summit on January 27. Top diplomatic sources told PTI that the free trade agreement to be sealed at the summit in New Delhi will be a "living document" on which work could be continued to iron out any issues that remain unresolved. "India and the EU can set the agenda for global governance, along with France, in the absence of the US," a senior EU official said. "India is one of the big players that we work with and can rely on." The proposed India-EU free trade agreement is expected to bring the relationship between the two sides much closer, w
