DIGITAL FOCUS
FMCG makers expect single-digit revenue growth, margin improvements in April-June quarter
FMCG companies like Dabur, Marico, and Adani Wilmar expect single-digit volume growth and margin expansion in the April-June quarter. Positive demand trends are observed, particularly in the rural market. Overall, FMCG players anticipate 7-9% revenue growth for the fiscal year.
FMCG makers expect single-digit revenue growth, margin improvements in April-June quarter
Fast-moving consumer goods companies expect single-digit volume growth along with expansion in margins during the April-June quarter of this fiscal, helped by a revival in rural demand and a stable urban market. Listed FMCG companies such as Dabur, Marico and Adani Wilmar in their latest quarterly updates have reported a "gradual improvement" in demand trends in the April-June quarter, which was on the expected lines.
Titan Q1 Update: Business grows 9% YoY; company adds 61 stores
Domestic jewellery sales grew 8% year-on-year, boosted by double-digit growth during Akshaya Tritiya. However, high gold prices and fewer wedding days dampened consumer demand compared to the previous quarter. Growth was primarily driven by increased average selling prices, while buyer growth remained in low single-digits. Tanishq expanded internationally with a new store in Muscat.
Delhi forensic lab prepares for surge in crime scene investigations under new BNSS laws
Delhi's Forensic Science Laboratory (FSL) has seen a surge in workload since July 1 due to new BNSS laws mandating rigorous forensic examinations at crime scenes with severe penalties. Now handling over 80 sites daily, up from a few, FSL uses mandatory videography for thorough evidence. With 63 experts currently, plans to expand to 120 aim to boost forensic support across districts. Extensive training ensures FSL's readiness under BNSS for effective crime scene investigations.
LatentView Analytics completes acquisition of AI company Decision Point
Decision Point Analytics has over a decade of experience in developing AI powered solutions. It has over 300 employees worldwide.
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CXO-level shifts rearrange top deck at Indian startups
The world of startups witnessed a series of top-level movements in the first half of 2024, including Naveen Tahilyani taking the helm as CEO of Tata Digital and the resignation of Surinder Chawla, managing director and chief executive officer of Paytm Payments Bank.
Opinion: India's AI journey should follow a path of open innovation guided by strong governance
Stakeholders in India are focused on democratizing AI benefits and reaching a $7 trillion economy by 2030 through the Digital India mission. An open innovation ecosystem with robust governance is crucial for accelerating AI adoption responsibly and unlocking the nation's economic growth potential.
Natural Environment Solutions enters Indian data centre industry with 5 MW facility in Pune
Natural Environment Solutions Pvt Ltd (NES) on Tuesday announced its foray into the Indian data centre industry with a 5 MW facility in Pune and said it plans to scale up to over 100 MW of data centre capacity across the country in the next three years. ' NES will set up the 5 MW capacity data centre in Hinjewadi, Pune.
Consistent winners! 9 stocks gain at least 25% in last four quarters, turn multibaggers
Indian equities soar to all-time highs with Nifty breaking above 24,000 levels, supported by the private banking sector. Sectors like IT and healthcare offer growth opportunities, making a stock-specific approach advisable amidst the current market conditions.
No more licensed biz, Paytm to focus on distribution model
Digital payments major Paytm wants to stay away from getting into any regulated businesses and would rather focus on building distribution heft. The senior leadership have taken a conscious call to not go after regulatory licenses but rather work with licenced entities and distribute products better.
TPG Capital acquires 60% stake in digital services firm Altimetrik
With a focus on brand visibility and global expansion, Altimetrik, led by Raj Sundaresan and supported by Adam Caplan, aims to leverage the partnership with TPG Capital to strengthen its position in the digital business landscape and drive revenue growth through innovative solutions.
TPG Capital buys controlling stake in digital services company Altimetrik
Altimetrik, backed by TPG Capital, expands its reach with a robust partner network including Snowflake. The company's leadership team, under CEO Raj Sundaresan, focuses on driving innovation and delivering business outcomes, solidifying its position in the digital business landscape.
Hunt on for mule bank accounts; Tata Digital pause on funding
The government is working with the central bank to catch mule accounts in India’s banking system and prevent fraud. This and more in today’s ETtech Morning Dispatch.
Digital Rupee transactions slump after reaching initial RBI target
India's digital currency, the e-rupee, has seen a sharp decline in usage, dropping to 10% of its December peak, sources reveal. Initially boosted by incentives, daily transactions fell from 1 million to about 100,000 after these incentives waned. The Reserve Bank of India is now focusing on refining the technology and exploring new use cases.
Go Digit stock likely to face pressure amid elevated combined ratio
After gaining over 24% within three weeks since listing on bourses on May 23, the stock of Go Digit General Insurance has remained range bound following weak performance in the March quarter, which was declared on June 11.
Digital loans up 49% in FY24 by value, Rs 1.46 lakh cr disbursed: Industry body
The digital lending sector, represented by FACE, saw a significant increase in disbursements and loan numbers in FY23-24, with member entities disbursing Rs 1.46 lakh crore, marking a 49% surge. Over 10 crore loans were issued, up 35% from the previous year. Despite regulatory concerns, the sector emphasizes customer-centricity, compliance, and sustainable practices.
Go Digit shares rally 10% after reporting Q4 PAT soars 104% YoY
Go Digit General Insurance shares surged 10% to a record high of Rs 372.35 after reporting robust Q4 results. PAT soared 104% YoY to Rs 53 crore. Q4 gross written premium rose nearly 19% YoY to Rs 2,336 crore. FY net profit jumped 405% to Rs 182 crore, with gross written premium up 24.5% YoY to Rs 9,016 crore.
Nifty hits fresh record high, Sensex soars 500 pts on gains in IT stocks; Fed outcome in focus
Indian shares kicked off Wednesday's trading session on a positive note, driven primarily by gains in IT stocks. The market anticipates the release of a crucial U.S. inflation report and the Federal Reserve's policy decision, both of which are likely to impact near-term interest rate trends.
Modi 3.0: Industry seeks roadmap to cement India's lead in global digital arena, vows support
The Digital Infrastructure Providers Association (DIPA) has expressed full support for India's digital and telecom transformation under the new government, emphasising the need for a clear roadmap to solidify the country's leadership in digital infrastructure. DIPA highlighted the success of initiatives like Digital India and PM WiFi Access Network in enabling broad digital adoption, with Director General Tilak Raj Dua stressing the industry's readiness to collaborate with the government.
Affle India is this week's top stock; why analysts are bullish
The management aims for over 20% revenue growth in 2024-25 and is optimistic about better pricing and margin improvement. Analysts expect the near-term pressure from developed markets to subside in the current financial year. Should you invest in Affle India?
Cement, infra are key sectors to look at because of prospect of policy continuity: Pankaj Pandey
Pankaj Pandey discusses the impact of the incumbent government's majority on the market, focusing on earnings, Budget expectations, and sector performance post-elections. Pandey further says once this monsoon gets over the focus will shift towards the overall infra spend side. Cement has not seen much of a price performance and key players like ACC, Ambuja, UltraTech or JK Cement are going to experience a slightly better growth rate than the industry.
Paytm withdraws general insurance licence application; to focus on distribution-only model
Troubled fintech Paytm will increase focus on insurance distribution. It had earmarked Rs 950 crore to invest in the entity applying for the general insurance licence but it now expects to conserve that cash. The Noida-headquartered company will focus on distributing small ticket-size insurance products such as life, health, motor, shop and gadgets.
How Amazon Smbhav Venture Fund is funding small businesses with a digital-first focus
The fund’s portfolio includes investments across industries like consumer brands, healthcare and financial services; it has invested in brands such as Acko, Cashify, Fitterfly, Axio and M1xchange.
Know Your Fund Manager: Meeta Shetty, Tata Asset Management
"Over the years my role evolved into a full-fledged fund manager, overseeing both sectoral and diversified funds with a total equity AUM of around Rs 12,047 crore as on 30th April 2024 across three funds, Tata Focused Equity Fund, Tata Digital India Fund and Tata India Pharma and Healthcare Fund," said Meeta Shetty, Tata Mutual Fund.
India needs to focus on factor market reforms to propel growth to double digit: ADB Chief Economist
Labour reforms have been approved by Parliament in 2020, but it has not been implemented. In 2019 and 2020, 29 central labour laws were amalgamated, rationalised and simplified into four labour codes -- the Code on Wages, 2019; the Industrial Relations Code, 2020; the Code on Social Security, 2020; and the Occupational Safety, Health & Working Conditions Code, 2020.
Retailers to continue hiring in 2024, focus on tier 2, 3 cities : Report
In 2024, retail jobs surge with the operationalization of brands expanding from 2023, driving demand by 15-20%. E-commerce, despite startup leadership, faces hiring challenges. Logistics saw a dip. Retailers target fresh grads (52%) and experienced pros (38%). Tech adoption, sustainability, and skill development are key industry trends amid exponential e-commerce growth.
Focus on digital health leads to emergence of new roles in healthtech
The healthtech sector is experiencing significant growth in 2024, with a focus on digital health creating new roles. Despite challenges like funding winter and cost efficiencies, employment in healthtech has increased by 74% over the last two years. Key positions in demand include software developers, data scientists, and sales managers, with a preference for skills in Python.
Tata Digital CEO steps up focus on lowering costs
Naveen Tahilyani, handpicked by Tata Sons chairman N Chandrasekaran from the group's insurance business Tata AIA Life Insurance, has been tightening spends at the digital ecommerce entity and bringing a more data-driven operational strategy to the table. Since his appointment in February, Tahilyani has been guided closely by Chandrasekaran, who is keen to push Tata Neu.
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