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Flipkart in Q-fest; AI upskilling
Happy Monday! Flipkart has upped the quick commerce ante ahead of crucial festive season sale. This and more in today’s ETtech Morning Dispatch.
Debt collection just got easier, and AI-D may have opened a $15 billion opportunity
AI and digital technologies are revolutionizing debt collection, offering cost-effective and ethical solutions. The market is projected to grow to $15 billion by 2028. Fintechs and incumbents are collaborating to leverage these advancements and improve collections efficiency.
India to see retail digital payments to double to $7 tn by 2030: Report
India is expected to double retail digital payments to USD 7 trillion by 2030, according to a study by Kearney and Amazon Pay. The report, 'How Urban India Pays', suggests that affluent consumers lead the way with the highest Degree of Digital Payment Usage (DDPU), using various modes of digital payment for 80% of their transactions. The study was based on an online survey of over 6,000 consumers and over 1,000 merchants across 120 cities.
Dabur adds 2 lakh outlets to its network in FY24, highest by any FMCG player
Dabur India significantly expanded its sales network in FY24, adding 200,000 outlets to reach over 7.9 million retail points and 1,22,000 villages. Chairman Mohit Burman highlighted Dabur's deep penetration, with direct access to 1.42 million outlets. The company introduced 14 new products and ventured into emerging categories like mosquito repellents and gel toothpaste.
Tata Play takes its easy bingeing solution to Bangladesh
Tata Play has expanded its global reach by partnering with Akash Digital TV in Bangladesh to offer its white label solution, Tata Play Binge. This collaboration allows Akash Digital TV to utilise Tata Play's Cloud technology, simplifying content access for OTT aggregators. Tata Play aims to enhance its platform internationally and generate revenue by providing end-to-end development opportunities for OTT aggregators worldwide.
Gross written premiums of general insurers up 13.3% in Q1
India's general insurance sector saw strong growth with an 8.76% increase in premiums for June and a 13.33% rise for the first quarter, driven by higher demand for motor and health insurance. Companies like ICICI Lombard and Star Health Insurance reported significant gains, especially in retail health and motor segments. However, New India Assurance faced slower growth, losing market share. Overall, the industry's gross premiums reached ₹72,757 crore, reflecting steady expansion and shifting consumer preferences towards comprehensive insurance coverage.
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Amazon Pay India bats for fair MDR on UPI payments to small merchants
Launching a report titled ‘How Urban India Pays’, CEO Vikas Bansal said the ecommerce major is focused on simplifying the customer journey and combating digital payment fraud.
The underlying bias is changing after three years of painful readjustment: These IT stocks can 16 to 38% returns in one year
While it might still not be making it to the headline, there has been a clear change in the stance for IT stocks post election results. After a long phase of underperformance the stocks are making a comeback. Because at this point of time, no one is able to assign any reason why this is happening, so there is no narrative on the street. The fact is that price action precedes the narrative. One bit of positive commentary on Q1 results and there will be no dearth of narratives. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.
MobiKwik claims to be largest digital wallet player in terms of transaction value
MobiKwik, leading in digital financial services by PPI Wallet transactions for April and May, grew market share to 23%. Co-founder Upasana Taku credits the Pocket UPI feature.
Uptick in IT hiring; ex-bureaucrat turns VC
Happy Monday! IT hiring has shown a glimmer of hope in Q1. This and more in today’s ETtech Morning Dispatch.
Loop back to that ole cassette
In the mid-1970s, the author's musical journey was influenced by classical and jazz records but took a turn when introduced to rock legends through compact cassettes. The nostalgic embrace of cassette tapes continues today as a resurgence in their popularity emerges, appealing to both old and new music lovers alike, offering a warm, lo-fi sound that digital formats lack, with prominent artists now releasing music on this retro format.
NPCI international partners with Network International to expand UPI acceptance in UAE
The introduction of UPI payments in UAE through NPCI International and Network International aims to provide seamless payment experiences for Indian travelers and NRIs. The initiative reflects the growing global acceptance of UPI, with partnerships established in various countries for faster digital payments.
Hamara gaon, hamara digital push
While smartphone adoption among low- and moderate-income (LMI) communities is growing, usage is limited to social media and messaging apps. This indicates that critical challenges continue to hinder the use of digital payments for close to 1 bn LMI people, especially women and people from marginalised communities.
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.
IT service exports should start diversifying in AI, cloud computing and data analytics, say industry players
As the IT service exports come out unscathed amidst a turbulent period for the world, industry players believe it’s time the service portfolio spread out.
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.
Have conviction in India story, want to be fully present: Zurich Insurance Group's Tulsi Naidu
Zurich Insurance Group has acquired a 70% stake in Kotak General Insurance, making it the largest foreign investment in the insurance sector and the first stake acquisition by an overseas insurer since the FDI limit was raised to 74% in 2021. The company's CEO, Tulsi Naidu, believes that owning and operating their own business is essential in a significant market like India. The company has considered investing in India for a long time, especially after the liberalisation of FDI rules.
Virat Kohli expected to shine on big stage as India ponder over Kuldeep question
In the opening Super 8 fixture of the T20 World Cup, India faces Afghanistan in Bridgetown. Virat Kohli aims to regain form while Kuldeep Yadav hopes for a chance. The Indian team ponders over including Kuldeep in the playing eleven, balancing spinners and pacers. Skipper Rohit Sharma eyes a winning combination with all-rounders like Hardik Pandya and Ravindra Jadeja. The match is crucial for India's batting lineup, led by Kohli and supported by Suryakumar Yadav and Hardik Pandya.
Naveen Trivedi's top stock picks from jewellery sector
Consumers accepting these brands even in a market where they are new because now the kind of design, the kind of product differentiator which they are finding it in newer brands, the acceptance levels are very high. So that is why I would say this category tailwinds are still driving the top players to keep expanding stores.
Amazon acquires video streaming platform MX Player
Amazon has agreed to acquire MX Player to expand its video streaming services portfolio in India's market. MX Player will complement Amazon's Prime Video and MiniTV services. The deal values MX Player at $50-100 million.
Midcap IT companies in India poach talent from industry majors
Midcap IT companies in India are attracting more employees from larger rivals in the past two years. This trend is seen in the technology services sector amidst macroeconomic challenges and a focus on hiring deployable talent.
10 Best Father's Day Gifts Under 2500: Show Heartfelt Gratitude
Father’s Day, which falls on the 16th of June every year, celebrates the spirit of fatherhood and paternal bonds. If you are planning to give your dad a present that he will cherish, then you are in the right place. We have curated a list of the 10 best Father’s Day gifts under 2500 to help you choose the right one for your doting dad.
Reliance, Disney seek India antitrust nod with cricket rights assurance
Reliance Industries and Walt Disney have applied for antitrust clearance for their $8.5 billion media merger in India, arguing that their combined influence, particularly in cricket broadcasting, will not negatively impact advertisers. The deal, announced in February, is anticipated to face close scrutiny due to its potential to establish India's largest entertainment entity, with extensive TV channels, streaming services, and cricket rights. The companies have assured the Competition Commission of India (CCI) that the cricket rights were obtained through a competitive bidding process, and competitors can bid when these rights expire in 2027 and 2028.
In the fight between bulls and bears, these set of companies always win: 4 stocks with upside potential of up to 21%
Recently the finance minister, Nirmala Sitharaman spoke about the risk of unchecked explosion of future and option trading. Before that, there was a SEBI study, which mentioned that 90 % of the individuals who trade in future and options ( F&O) end up losing money; only 10% are able to make profit. But there is another side to the story. First is that trade volumes in this segment are only going to rise. Second, what is the common between both the losers and winners? They both brokerage to their stock broker and also pay transaction fees to the stock exchange. So, who is the constant and permanent winner? The stock exchange and the stock broker. Yes, policy makers will bring in more checks, but the hard fact is that those checks will only be partially effective for a short period of time as the turnover in the F&O will continue to rise for the foreseeable future. One can control anything, but not the hope and greed on the street.
Five lakh sellers onboard ONDC so far: DPIIT secy
Asked if big startups would overshadow smaller players, DPIIT secretary Rajesh Kumar Singh said it will increasingly get traction for all types of players that comes to the ecommerce marketplace.
ONDC getting traction; five lakh sellers onboarded so far: DPIIT Secy
The government-backed initiative ONDC in the e-commerce sector onboarded five lakh sellers, primarily small and medium sellers. Secretary Rajesh Kumar Singh from DPIIT mentioned facilitating 7.22 million transactions in April. The initiative aims to address market concentration issues and foster startup collaboration with over 125 ecosystem stakeholders.
Will try to grow better than last year without taking any price hikes: Shankha Banerjee, Dr Lal Pathlabs
We have been consistently saying that our EBITDA margin level would be around what we even see in our delivery in quarter four in the range of 26-27% kind of EBITDA margins, I think that is something which we continue to state is something which we are working towards.
The YouTube Election: Social media emerges as key player in Indian polls
Dahiya can see people’s enthusiasm reflected in the sudden surge in subscribers over the past month, along with better likes-to-views ratio and a higher number of comments on videos even when the content is critical and not celebratory.
UPI Service providers sought regulatory intervention to make transactions remunerative
The UPI payment ecosystem is currently under the sway of two major players – Google Pay, commanding a substantial 47% market share, and PhonePe, a Walmart subsidiary, holding a significant 37% share. This duopoly underscores the competitive landscape and the uphill battle faced by smaller players.
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