Nykaa
Nykaa shares jump 3% as management remains positive on growth. Should you buy, sell or hold?
Shares of FSN E-commerce Ventures, Nykaa's parent company, rose 3% on BSE to Rs 176.60 after an investor meeting where management expressed confidence in business growth. They anticipate healthy GMV growth in BPC, targeting mid-to-high 20s over FY2024-28E. Fashion business is expected to break even by FY2026. GCC expansion may require $3-5 million in capex medium-term.
Morgan Stanley sees 7-35% upside for new-age stocks
"We see macro factors aligning (multiple re-rating for growth stocks in India and other regions, tight PE/VC money keeping the competitive environment benign) with micro factors (strong execution reflected in market share gains, margin improvement driving profit upgrade cycle) and supporting share prices," said Morgan Stanley's analysts in a client note.
Market Trading Guide: Apollo Hospitals, Nykaa among 5 stock recommendations for Tuesday
Equity benchmarks Sensex and Nifty closed higher on Monday as buying in power, auto and industrial stocks helped the indices rebound from early lows amid a bearish trend in global equity markets. However, volatility in markets ahead of the week's monthly expiry and selling pressure on metal and oil & gas counters kept investors on the back foot, traders said. The 30-share BSE Sensex ended 131 points higher at 77,341. The Nifty rose 37 points to settle at 23,538. The short-term trend of Nifty remains positive amid range movement. Having bounced back from near the lower range of 23,300 levels, there is a possibility of Nifty testing the upper range of 23,650-23,700 in the short term. Immediate support is at 23,350, said Nagaraj Shetti of HDFC Securities.
Market Trading Guide: HDFC Bank, Nykaa among 8 stock recommendations for Tuesday
Indian shares logged record closing highs for a second straight session on Friday, driven by state-run companies and energy stocks. The NSE Nifty 50 settled 0.29% higher at 24,465, while the S&P BSE Sensex added 0.24% to 76,993. "Nifty continued to show range-bound action within 23300-23500 levels and still there are no early signs of any breakouts on either side. A decisive move above 23500 levels is likely to open an upside breakout and a slide below 23300 levels could mean a chance of downside breakout of the range movement in the near term," said Nagaraj Shetti of HDFC Securities. Here are 8 stock recommendations for Tuesday:
Hot Stocks: Brokerage view on Tata Consumer, Varun Beverages and Mankind Pharma
Top brokerage firms like Motilal Oswal, Jefferies, and Morgan Stanley have issued buy ratings and targets for Mankind Pharma, Nykaa, Tata Consumer, and Varun Beverages.
How Gen Z is retouching the rules of the skincare market in India
These youngsters are far more conscious of what goes on to their skin, compared to millennials and Gen X. They no longer chase basic whitening or moisturising creams. Influenced by social media, the young India have educated themselves on how each active ingredient works on their skin, even at the granular level of being aware of the exact percentage of ingredients used in products.
Outperformance of private sector banks may continue for next one year: Sandip Sabharwal
The smaller pharma companies I find it tough to evaluate, so many of them can potentially do well but I do not have the bandwidth to go molecule by molecule and evaluate those companies. But I think Sun Pharma is a decent business model, so we are just holding it for the long term.
Stocks in news: ITC, IndiGo, Grasim, Power Grid, Nykaa, Gland Pharma
Grasim Ltd, part of the Aditya Birla Group, reported 39% growth in its consolidated net profit (excluding exceptional item) at Rs 1,908 crore for the quarter ended March 2024.
Stocks in news: Apollo Tyres, Protean e-Gov Tech, Sun Pharma, Nykaa, Paytm
Warburg Pincus arm White Iris Investment will likely offload 3.5% stake in Apollo Tyres through block deals, according to reports.
Q4 results this week: ITC, ONGC, Sun Pharma, Nykaa, Ircon International and IRFC
ITC, ONGC, IRFC, Ircon International, BHEL, BEL, Sun Pharma, Nykaa, Tata Investment Corporation, Hindalco, Ashok Leyland, and Divi's lab will be releasing their March quarter report cards this week.
Nykaa grants 4.73 lakh shares under Esop scheme
FSN E-Commerce Ventures, operating Nykaa, allotted 4,73,138 equity shares under Esop scheme. Shares valued at Rs 8.08 crore. Managing director Falguni Nayar foresees $90-billion market growth.
Startups’ pink slip count falls to 10,000 amid funding blues
Firing in first half of 2024 lesser than H2, H1 of ’23, signalling a slight recovery. Ola Electric is in the final stages of laying off over 600 after sister company Ola Cabs fired around 200 workers in late April. Industry executive told ET, even with the slowdown in layoffs, startups are still not out of the woods.
Ecom Express sets the ball rolling for Rs 3,000-crore IPO
Third-party logistics firm Ecom Express is looking to list on the public markets to raise Rs 3,000 crore, two people aware of the development told ET. The Warburg Pincus-backed company has appointed bankers Kotak Capital, IIFL, Axis Capital, and UBS to take forward the process.
Ecom Express sets the ball rolling for Rs 3,000-cr IPO
"Ecom Express has initiated the process for the public issue, which includes both a fresh issue and an offer for sale from the existing investors. The company is likely to file its draft red herring prospectus soon," said one of the people cited above.
Nykaa may grow at 20% CAGR till FY27: Jefferies
Beauty and fashion retail brand Nykaa is projected to grow at a compound annual growth rate (CAGR) of about 20% between FY24 and FY27, as forecasted by brokerage firm Jefferies. In FY24, Nykaa’s BPC segment was up 25% in GMV terms to Rs 8,340 crore, while the fashion segment grew 27% to Rs 3,269 crore.
Hot Stocks: Brokerages on Jubilant FoodWorks, Sun Pharma, Nykaa; Motilal upgrades HDFC Life
Top brokerages issue ratings and targets for key stocks: Motilal Oswal upgrades HDFC Life to buy; Jefferies reaffirms buy for Sun Pharma; UBS stays neutral on Nykaa; Jefferies advises hold on Jubilant FoodWorks. Analysts anticipate growth trajectories and address performance factors.
Beauty secrets: Inside India's booming beauty industry that relies on hundreds of contract manufacturers
Nishit Dedhia, the MD and cofounder of Kain Cosmeceuticals, is leading a tour of his cosmetics manufacturing facility in Khopoli, Maharashtra. The facility produces a variety of beauty products for the growing direct-to-consumer market in India.
Nykaa shares rally 3% after Q4 results. What brokerages recommend you should do
The company also posted a 28% year-on-year (YoY) increase in operating revenue for the March quarter to Rs 1,667 crore led by a 24% increase in the core business, beauty and personal care (BPC), to Rs 1,388 crore during the quarter.
Nykaa appoints Santosh Desai as independent director
Santosh Desai previously served as the CEO of business consulting company Future Brands for nearly 17 years, and also as president of advertising firm McCann.
Stock prices of new-age firms swing on poll results
Major new-age companies including Zomato, Paytm, Delhivery, Nykaa and PB Fintech saw their stock prices plummet on Tuesday. However, as the broader markets recovered some losses on Wednesday, these stocks also saw their prices rise. This plunge followed massive gains on Monday when exit polls had suggested a clear mandate for the ruling Bharatiya Janata Party (BJP).
Nykaa Q4 Results: Profit zooms 187% YoY to Rs 6.9 crore; revenue rises 28%
Nykaa Q4 Results: The consolidated net profit stood at Rs 2.4 crore in the last-year period. The company's board has approved an investment of Rs 20 crore in FSN International, a wholly-owned subsidiary, on a rights basis.
Buy FSN E-Commerce Ventures, target price Rs 230: JM Financial
FSN E-Commerce Ventures Ltd., incorporated in the year 2012, is a Small Cap company (having a market cap of Rs 48854.49 Crore) operating in Services sector.
Nykaa’s Q4 revenue rises 28% to Rs 1,667 crore
The operating revenue growth was led by a 24% increase in the core business, beauty and personal care (BPC), to Rs 1,388 crore during the quarter. For the full financial year, BPC saw a 20% year-on-year increase to Rs 5,385 crore.
Nifty in a narrow range between 23,300-23,500. How to trade this week
"For Nifty Bank, one should wait for a breakout confirmation above the 50,200 mark. If the index breaks above 50,200, it will open the path to 51,000 on the upside, with strong support at 49,800."
Nykaa, Paytm to announce Q4 earnings tomorrow. Here's what to expect
Analysts expect Nykaa to continue the stable trend seen in the last few quarters, while Paytm will likely see a decline in core earnings due to RBI's restrictions on the Payment Bank.
Lotus Herbals sets up $50mn fund to invest in startups
Lotus Innovation Fund is the second such fund to be set up in India. In 2022, Estee Lauder-backed New Incubation Ventures had launched a strategic early-stage investment fund with omni-channel beauty retailer Nykaa.
Renee Cosmetics raises Rs 100 crore in funding from Evolvence, Edelweiss
Renee Cosmetics raises Rs 100 crore in series B round led by existing investors, increasing valuation by 60% from previous round in December 2022.
Nykaa makes Rs 7.17 crore Esop allotment ahead of Q4 results
Companies typically expand their Esop pool to attract and retain talent, align employee and shareholder interests, and enhance overall performance. Private startups also institute buybacks of Esops to help create wealth for employees.
Skincare brand Foxtale raises $18 million from Panthera Growth, others
Direct-to-consumer (D2C) skincare brand Foxtale has raised nearly Rs 150 crore in the latest funding round. It will use the capital mainly for expanding into newer categories, founder Romita Mazumdar told us. The company will foray into body care category which includes products like lotions and body wash, she added.
Funds make a beeline for beauty platforms; Purplle raises $100 million
ADIA leads a $100-million financing round in Mumbai-based beauty retailer Purplle at a valuation of $1.2-1.3 billion. Creaegis, a PE fund, is expected to join the funding round. MCaffeine, a caffeine-based skincare and haircare brand, is also in the middle of a fundraise process and exploring strategic investors. The funding would be in MCaffeine’s parent firm PepTechnologies, which houses skincare brand Hyphen, along with recent fundraise by Foxtale and Traya.
Wipro promotes veterans; Paytm & Nykaa Q4 financials
Happy Thursday! Wipro CEO Srinivas Pallia is betting on internal talent to propel growth. This and more in today’s ETtech Morning Dispatch.
Q4 results today: Sun Pharma, Nykaa, Paytm among 162 companies to declare earnings on Wednesday
162 companies to report Q4 earnings on Wednesday. Nykaa expects 24% BPC and Fashion GMV growth, while Paytm faces a revenue decline from RBI actions. Analysts also predict pressure from discounting and lower advertising income.
India Inc gets inked; corporate leaders vote for stable govt, development, emancipation of poor
Industry leaders from Tatas, Ambanis, and Birlas vote in Mumbai during the Lok Sabha elections, focusing on development, economic growth, and voting choices in Maharashtra.
BNPL startup Simpl undertakes another round of layoffs, rejigs senior leadership
Simpl, a Bengaluru-based consumer credit startup, laid off 30 employees after firing 160 executives. Senior executives Vatsal Jain, Ashwini Ravindranath, and Ramkumar Narayanan resigned. Earlier in April 2023, the BNPL startup let go 25% of its workforce or around 150 employees.
Q4 results: These 10 companies are expected to report highest profit growth
According to brokerage firms Motilal Oswal and Kotak Institutional Equities, nearly 29 companies are likely to report over 100% profit growth on a year-on-year (YoY) basis in the March quarter earnings season, which began last week with TCS.
New-age tech stocks somersault on Dalal Street, give up to 258% returns in FY24
Zomato was the top performer from the new age technology pack, giving a staggering 258% return to investors in FY24. This was after a 38% correction witnessed in FY23.
Will Nykaa's performance tread the Zomato path?
Zomato posted a significant improvement in unit economics/margins which were instrumental in driving upgrades and the consequent stock performance, Nuvama said.
Food delivery cos bet on existing users; Infosys CEO interview
Happy Tuesday! With user growth stagnating, Zomato and Swiggy are prodding existing customers to order more. This and more in today’s ETtech Morning Dispatch.
Myntra gained market share, scaling beauty and home decor: CEO Nandita Sinha
Over the past year-and-a-half, online fashion retailer Myntra has gained market share even as rivals like Reliance Ajio and Nykaa Fashion have snapped at its heels, chief executive Nandita Sinha told ET in an interview–without naming the competition.
Ecommerce in slow lane; PhonePe-BharatPe truce
Happy Monday! Online sales haven’t picked up during the final quarter of FY24, industry officials said. This and more in today’s ETtech Morning Dispatch.
Ecommerce fails to click for firms in Q4 as sales dip across segments
Online consumption lagged in the March quarter across segments like electronics, wearables and beauty. Delhivery said ecommerce delivery volumes declined 13% sequentially in the March quarter to 176 million, while on a year-on-year basis they were down 2%. Cofounder and CEO Sahil Barua indicated this slowdown comes after a strong December quarter.
HSBC dispels fears of deeper correction in midcaps. Picks Nykaa, 7 more stocks as buys
HSBC has identified 8 midcap stocks, which could give up to 58% returns. It has dispelled fears of a deeper correction in midcaps from here, like what happened in 2018 when the BSE Midcap index fell by over 13%.
Sensex jumps 494 points to create 2 new records! 5 factors behind the boom
Indian headline indices hit new highs fueled by auto, energy, and metal stocks. Bond yields rose impacting global markets. Earnings season kicked off with positive expectations for Nifty companies.
A quarter of hits & a few misses; and other top tech, startup stories
Welcome to another edition of ETtech Unwrapped – our weekend newsletter. This is Pranav Mukul in New Delhi. This week we’ve wrapped up another compelling quarterly earnings season for listed new-age companies from Zomato and Delhivery to Paytm and PB Fintech.
Expect 15-18% upside in Sun Pharma over medium to long term: Hemang Jani
Sun Pharma numbers were slightly below expectations in terms of EBITDA and we do think that though they have guided for a very strong growth through their speciality portfolio, that is a little bit time away.
Reliance’s Tira lays foundation using AI tools to push into India's glossy beauty market
Reliance Industries Ltd.’s Tira, a new venture in India’s beauty sector, leverages AI for personalized experiences like fragrance selection and skincare analysis. With 12 stores and online presence, Tira competes with Nykaa and Tata Group’s Palette in a rapidly growing market. Reliance's diversification strategy aims for innovation and market dominance.
Paytm Q4 losses tripled; Oyo IPO withdrawn
Troubled fintech Paytm reported its first quarterly earnings after the RBI banned its payments bank in January. This and more in today’s ETtech Top 5.
VC funding for women-led startups declined in 2023: report
A new report reveals a decline in VC funding for women-led businesses in India. According to WinPe, a non-profit organisation focused on gender diversity in private equity, the share of funding going to female founders dropped to just 9.3% in 2023, compared to 14.7% in 2021.
HSBC suggests top midcap picks; deeper drop unlikely
HSBC's top midcap picks in Mumbai expected to deliver 9%-55% returns this year. Firm sees midcap opportunities in the sell-off, unlikely deep correction in small and midcaps due to a strong domestic economy and market conditions.
About 90% of Indian retail market will remain offline: Accel’s Prashanth Prakash
D2C brands, primarily online-first, consider expanding to offline stores as Indian retail market grows to $2.2 trillion by 2030. Reports highlight the rise of omnichannel firms like Nykaa, Lenskart, and the shift towards omnichannel purchases.
Nykaa shares jump 6% on solid Q3 earnings. Should you buy?
Jefferies, Nuvama and JM Financial have reiterated their buy views on the Nykaa shares while Kotak Institutional Equities has suggested an 'Add' rating. Meanwhile, Japanese brokerage Nomura has maintained a neutral stance on the counter.
Buy Nykaa at current price; 2 top picks for the day: Aditya Arora
Aditya Arora recommends buying Reliance at Rs 2970, stop loss Rs 2900, target Rs 3070. Cipla at Rs 1471, stop loss Rs 1430, target Rs 1540. He further says that "The whole cement pack and anything related to capital and infrastructure, heavy goods and anything related to realty, infrastructure is doing pretty well."
Zomato hits record high, bucking internet stocks' sluggishness
Zomato's shares hit a record high as its profitability improves, making it India's most valuable internet stock. Investor sentiment has reversed, and Zomato dominates the food delivery market. Blinkit, its quick commerce business, is expected to drive further growth.
Stocks in news: Biocon, Nykaa, Britannia, Tata Consumer, Nestle
Biocon has tentative approval from USFDA for Dasatinib Tablets, which are used to treat Philadelphia Chromosome Positive Chronic Myeloid Leukemia.
Nykaa has huge lead, edge to actively defend its turf: Founder Falguni Nayar
Nykaa, led by Falguni Nayar, plans to stay competitive in the beauty and fashion retail sector with a focus on customer expectations and market leadership against Indian conglomerates and new entrants like Tata Cliq Palette.
Hot Stocks: 3 stocks that may give returns upto 38%
If Indus receives its dues (receivables $635 million), it could declare a special dividend – translating into 8-9% of dividend yield
India bright on radar of global players; am optimistic about future: Nykaa Founder Falguni Nayar
In an exclusive interview with PTI, Nykaa founder and CEO Falguni Nayar said the recent instances of corporate governance lapses in some well-known startups will lead to greater scrutiny by investors (in the ecosystem), and asserted that governance agenda has to be set out very early in an entrepreneurial journey.
Fashion, grocery, general merchandise to capture 2/3rd of e-commerce by 2027: Falguni Nayar
Nayar said that in today's phygital (physical plus digital) world- understanding consumer patterns, behaviours and preferences is paramount in order to solve consumer concerns.
How to spot nyeka behaviour even if you're not a bong
Falguni Nayar's insights at the ET Awards covered Nykaa, consumer trends, and correcting mispronunciations like Nyeka. She discussed Nykaa's journey and colonial perceptions by Thomas Macaulay related to Bengali culture.
LinkedIn Top Companies 2024 List: Here are the top companies in India according to LinkedIn
LinkedIn has released its annual ranking of the top 25 workplaces in India, showcasing the most sought-after companies for career progression and job opportunities. Tata Consultancy Services (TCS) retains the top spot, followed by Accenture and Cognizant. The financial services sector dominates the list, with nine companies featured. In the midsize category, Lentra and MakeMyTrip lead the rankings. The report highlights hiring trends, with Bengaluru as the top hiring location, and emphasizes the importance of investing in employee experience to attract and retain talent in the evolving job market.
Plum Goodness aims for profitability in FY25, eyes product segment revamp
Mumbai-based beauty and personal care (BPC) brand Plum Goodness plans to introduce new products within the next six months, focusing on segments such as skincare (including cleansers, serums and moisturisers), hair care and make-up, founder Shankar Prasad told ET in an interaction.
Tech firms TCS, Accenture, Cognizant lead LinkedIn's top large companies list
LinkedIn's 2024 Top Companies list in India features Tata Consultancy Services, Accenture, Cognizant, and others. Insights include in-demand skills like investor relations, capital markets, and job opportunities in diverse industries across locations like Bengaluru and Hyderabad.
Logistics SaaS startup ClickPost raises $6 million in funding led by Inflexor, Athera VP
ClickPost secured $6 million funding led by Inflexor Ventures and Athera Venture Partners. The platform serves clients like Nykaa, Puma, Pepe Jeans, Acer, and Supertails. ClickPost tracks 1 million shipments daily.
Lighthouse Funds invests Rs 700 crore in FMCG contract manufacturer Parsons Nutritionals
Private equity fund Lighthouse Funds has invested Rs 700 crore in Parsons Nutritionals, a contract manufacturer of cookies, chocolates, confectionery, malted beverages, and ready-drink mixes. The investment, part of Lighthouse's fourth private equity fund, Lighthouse India Fund IV, saw participation from IFC, Evolvence India, and HDFC AMC's Fund of Funds.
Nykaa-KK Beauty to step up overseas expansion
Nykaa-KK Beauty, a joint venture between Katrina Kaif, Nykaa, and Matrix India Entertainment, plans to aggressively expand in overseas markets, particularly the Gulf region. They will also focus on ramping up their offline presence in India. Their sales have seen phenomenal growth through retail stores.
Indians opting for premium products, say Lenskart, BlueStone founders
Bansal said people are willing to pay for a brand not because of its advertising, but because of the promise and trust it embodies.
Beauty brands bowled over by Women’s Premier League
Sugar Cosmetics' co-founder Vineeta Singh's LinkedIn post with actor Kareena Kapoor Khan and designer-entrepreneur Masaba Gupta and others watching a Women's Premier League (WPL) match last week went viral. So did pictures of actor Katrina Kaif watching a match to support the UP Warriorz team wearing Kay Beauty jerseys, the name of her cosmetics label which has associated with the team as title sponsor in partnership with beauty platform Nykaa.
Lexdale International sells around 1% stake in FSN E-commerce for Rs 495 crore
The asset management firm sold 2,62,37,880 shares of the Nykaa brand owner at Rs 188.83 a share, bulk deals data showed. Shares of Nykaa parent ended 3% down on the National Stock Exchange at Rs 187.60.
Stocks in news: Bharti Airtel, Nykaa, Paytm, Britannia, BSE, LIC, Adani Power
FSN E-commerce is slated to release its quarterly earnings, and the omnichannel retailer is expected to report strong numbers amid robust demand for beauty products in the festival and wedding season.
Consulting, technology firms top recruiters at ISB, 70 first-time recruiters make 190-plus offers
Consulting and professional advisory services firms dominated recruitment for the Indian School of Business PGP Class of 2024, representing 37% of offers. Overall, 394 companies, including over 70 first-time recruiters, extended 1,206 job offers to 850 students. As of early April, over 95% of the batch had secured placements.
Shashwat Goenka to join World Economic Forum's Young Global Leaders Class of 2024
Other class members from India Inc for this year include FSN E-Commerce Ventures (NYKAA) CEO Adwaita Nayar, Jubilant Group director Arjun Bhartia and Vedanta Limited non-executive director Priya Agarwal Hebbar. There are Indian members in other fields such as social entrepreneur and acting. The class of 2024 includes a group of nearly 90 changemakers across nations.
Good Glamm strikes JV with Serena Williams for beauty brand launch in US
The Good Glamm Group and Serena Williams partner to introduce 'Wyn Beauty by Serena Williams' in the US market, following in the footsteps of other celebrity-led beauty brands like JLo Beauty and Skims.
Uber promotes APAC head Parameswaran to global role
Parameswaran would head business development for Uber, its enterprise product, and new ‘fleets’ team
Ecommerce sales growth in slow lane as mass market crowd thins
Ecommerce sales grew 12-15% in Q1, slower than 2023. No major smartphone launches; fashion clearing inventory. Inflation affects online retail. Beauty brands show growth amidst sluggish market. Home furnishing and offline sales grow.
Nykaa Q3 Results: Profit nearly doubles to Rs 16 crore; revenue up 22% YoY
Nykaa Q3 Results: FSN E-commerce Ventures, the parent company of Nykaa, reported a 97% YoY increase in net profit for Q3, reaching Rs 16.2 crore. Revenue from operations also rose by 22% YoY to Rs 1,789 crore. The EBITDA margin expanded to 5.5%, showing a 26% YoY growth. Nykaa's gross merchandise value (GMV) increased by 20% YoY to Rs 761 crore.
Nykaa Q3 results today: Revenue may see double-digit growth on strong seasonality factors
Nykaa Q3 results: Nykaa's parent company, FSN E-commerce Ltd, is expected to report strong earnings for the December quarter, driven by robust demand for beauty products during the festival and wedding season. Analysts predict double-digit revenue growth and significant profit growth for the quarter.
Fri-yay! Nifty hits fresh record high powered by rally in IT stocks
Indian equity indices treaded higher led by banking and IT stocks. Infosys and TCS were the top gainers, along with Wipro, Tech Mahindra, HCL Tech, and UltraTech Cement. On the other hand, M&M, Asian Paints, Bharti Airtel, HUL, and Power Grid opened lower. According to experts, the resilience in IT stocks and strength in Reliance will consolidate Nifty around 21600 levels. The US CPI inflation rising to 3.4% may delay the expected rate cut by the Fed in March, along with the rate cut by the MPC.
YES Bank, Nykaa among 4 midcap stocks that hit new 52-week high on Wednesday
India's Nifty 50 and Sensex were muted on Wednesday, as investors remained on the sidelines ahead of earnings and key inflation readings which could influence the interest rate outlook. However, today's, four midcap stocks from the Nifty200 index hit new 52-week highs. Here's a list:
Startup Mahakumbh: PM Modi calls upon successful startups to mentor youth, support new ideas
At the Startup Mahakumbh event in Delhi, Modi also spoke about the changing mindset about startups in the country. He said startups have changed the psyche that a lot of money is needed to start a business.
Startup Mahakumbh to boost India’s efforts to improve innovation ranking: DPIIT secretary
The three-day Startup Mahakumbh starts today. In a presser on Sunday, RK Singh, secretary of the Department for promotion of industry and internal trade (DPIIT), said the government aims to improve India’s global ranking in terms of innovation, and hopes to get a booster on this from the event.
ET Awards 2023 | CEO Panel Discussion on 'Putting India on the Path to a $10 trillion economy’
Let's not get too focused on the very short term. What's good for India is good for us. Short-term volatility is a wrinkle in the passage of time, says Rohit Jawa, CEO of HUL. Fashion has a huge appeal to the young population, and they are driving today's consumption. Because they spend differently, you can see their consumption's impact on certain industries, says Falguni Nayar of Nykaa. To reach a $10 trillion economy, we have to grow our GDP at 8%; the financial sector has to grow at 18%, says Ajay Piramal, Chairman of Piramal Group. Running short of 40,000 labourers as they aren't just available, says SN Subrahmanyan, CMD L&T. All this and much more in a discussion moderated by Arijit Barman of The Economic Times | ET Awards 2023ET Awards 2023 | CEO Panel Discussion on 'Putting India on the Path to a $10 trillion economy’
Kishore Biyani's daughters Ashni and Avni to re-enter retail space
Foodstories will be an 8000-sq ft retail format dining café that will also sell a wholly organic estate-to-cup coffee program, a single-origin chocolate experience, bespoke cheese, single-origin spices and dry fruits, farm-sourced fruits and vegetables. Avni Biyani said, “We’re building a community and platform for the dedicated entrepreneurs, growers, farmers, artisans, and food lovers.”
The Economic Times Awards for Corporate Excellence 2023: The biggest stars of India Inc are ready. Are You?
The Economic Times Awards for Corporate Excellence 2023 will be held in Mumbai. The event will feature panel discussions, fireside chats with Nirmala Sitharaman and S Jaishankar, and the presentation of awards to various individuals and companies.
Metro Brands hits 52-week high, Nykaa rises 3% on deal with Foot Locker
Foot Locker's partnership with Nykaa and Metro Brands is with a view to transform the sneaker segment in India and address the evolving needs of next-gen customers, a media release issued on Wednesday, said.
Nykaa shares rally 5% ahead of Q2 results
In Q2, the new-age company is expected to report a double-digit year-on-year (YoY) growth in revenue for the September quarter, driven primarily by the beauty and personal care and fashion segments, which are seen growing 21-31%.
Turkish e-commerce company Trendyol may go exclusive on Myntra
Trendyol, the Turkish e-commerce company owned by internet giant Alibaba will delist its products on Reliance Ajio and Nykaa, opting instead to exclusively sell through Myntra in India. Having launched in the second half of 2022 in India, Trendyol has been operating across all three platforms until this decision.
Nykaa shares jump over 4% post Q2 earnings. Should you buy the stock?
In the domestic pack, Nuvama maintained a buy view while Kotak Institutional Equities recommended an 'Add'.
When online goes offline: Why brick-and-mortar is back in fashion
India's new digital payment infrastructure and deeper internet penetration triggered a wave of e-commerce, but brick-and-mortar retail is making a comeback. Direct-to-consumer brands are opening physical stores. Retail leasing is at a record high. Growth in online users has slowed. Retailers are expanding stores to enhance the shopping experience.
Pure-play online D2C brands step up offline presence to push growth
Mamaearth, one of India's prominent D2C brands, is expanding its reach with over 1.7 lakh retail touchpoints, marking a shift towards physical retail. Other brands like Licious and Minimalist are also adopting an omnichannel approach. However, entering offline retail comes with challenges, including adapting product assortments and building trust with trade participants. Despite the challenges, brands like Slurrp Farm, Just Herbs, and Nykaa are rapidly expanding their offline presence, recognizing the value of physical touchpoints in customer engagement and sales.
Fortunes of startup founders swing with stock prices in past 12-14 months
During the last 12-14 months, startup founders such as Zomato’s Deepinder Goyal and Policybazaar’s Yashish Dahiya and Alok Bansal have reaped mega rewards. However, Paytm founder and CEO Vijay Shekhar Sharma has seen his wealth eroded.
Lighthouse invests Rs 284 crore in jewellery brand Kushal’s
Kushal's will use the funds to strengthen its brand and increase its retail footprint. The jewellery brand aims to open more than 300 stores in the next three to four years. The funds will also be used to build technology.
PayU makes five new additions to board, Laurent Le Moal joins as non-independent director
PayU Payments strengthens corporate governance with new board members, including Renu Sud Karnad, IUHF president, and Laurent Le Moal. PayU India plans for a public listing after selling global operations to Rapyd.
Startups: I am looking at a bounce back in funding, hiring & higher growth post elections, says Sanjeev Bikhchandani
Sanjeev Bikhchandani discusses the Startup Mahakumbh event in India, aiming for it to become a marquee event. He highlights the success of listed and profitable start-ups. He emphasizes the importance of a solid business model with a compelling value proposition. He mentions the challenges in the start-up ecosystem and the need for a balanced policy approach.
Hot Stocks: Brokerages on Varun Beverages, Divi’s Laboratories, Nykaa and Bharat Forge
CLSA downgraded Bharat Forge to sell and Morgan Stanley maintained an overweight rating on Nykaa.
Stocks in news: Nykaa, Info Edge, Power Grid, Mamaearth, Bajaj Finance
Bajaj Finance has launched the share sale programme to qualified institutional buyers on Monday, and the floor price for the same has been set at Rs 7,533.81 a share.
Stocks in news: Nykaa, SBI, IndiGo, Vedanta, Adani Energy
PB Fintech, which operates Policybazaar, reported net loss of Rs 21 crore in the September quarter. Revenue from operations were up 22% to Rs 812 crore.
Nykaa, RIL among 5 stocks with RSI trending up
Over five dozen stocks are trading with momentum indicator RSI trending up. ETMarkets has picked five stocks in this pack to give insights about their movement trends on November 6, Monday, ahead of the market opening today. RSI or the relative strength index computes the ratio of the recent upward traction in the stock price movement relative to its absolute price movement. The RSI value ranges between 0 and 100. Herein the StockEdge data takes into consideration the time period of 14 days to compute RSI. Furthermore, RSI also enables an understanding of the stock’s overvalued or oversold state. (Source: StockEdge)
Stock Radar: Down 30% from highs! This new-age company is showing signs of turnaround
Short-term traders can look to buy the stock now for a target of Rs 185 in 4-6 months, suggested experts. The new-age stock hit a 52-week high of Rs 224 on 11 November 2022, but failed to hold on to the momentum. It closed at Rs 147.90 on 10 October 2023, which translates into a fall of over 34%
