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FMCG sector expected to see 7-9 pc revenue growth in FY25, helped by a recovery in rural markets: Crisil
FMCG sector revenue is projected to grow 7-9% this fiscal, driven by rural revival, urban demand, and rising disposable incomes. Crisil Ratings indicates premiumisation will boost margins by 50-75 basis points despite marketing expenses. Rabindra Verma highlights 8-9% F&B and home care growth, and 6-7% for personal care. FY25 will see low single-digit product realisation growth.
Bansal Wire IPO offers exposure to domestic manufacturing opportunity
Bansal Wire Industries plans to raise Rs 745 crore through an IPO to reduce debt and meet working capital needs. The company doubled its installed capacity with a Rs 500 crore investment, expecting full benefits this fiscal year. Additionally, the IPO will reduce long-term debt by two-thirds, leading to lower interest expenses. Bansal Wire Industries' EBITDA margin expanded to 6% in FY24, with RoE and RoCE above industry averages.
Insurance brokers may join govt efforts to expand Fasal Bima coverage
The government plans to involve insurance brokers in PMFBY to reach non-loanee farmers. This initiative aims to enhance enrollment and increase awareness for wider coverage and better penetration of the scheme.
TAFE Motors, DEUTZ AG ink pact; to expand internal combustion engine business
TAFE Motors and Tractors Ltd would produce engines to suit newer applications in the Indian market as well as for DEUTZ's requirement. The engines would be produced at the manufacturing facility of TAFE Motors at Alwar, Rajasthan. The manufacturing facility currently produces diesel engines and gensets in the 5 to 125 kVA range that are marketed as Eicher Engines and TMTL Engines.
CAMS aims to be both payment aggregator & gateway, expand into education: MD
CAMS looking to now expand into education as one potential, extra niche that could scale up the business. They are moving forward to be both a payment aggregator and payment gateway and there will be some build-out of opportunity in the education space as well, says MD & CEO Anuj Kumar.
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Asia's factory activity expands in June on solid global demand
The surveys show how Chinese firms are ramping up production despite weak domestic demand, which Beijing has failed to reverse with a rescue package for an ailing property sector.
India expands military training for foreign partnerships across Gulf, ASEAN, and Africa
India has significantly expanded its military training programs to strengthen defence partnerships with Gulf, ASEAN, and African nations. Initiatives range from basic infantry skills to advanced systems like submarines and fighter jets. Recently, 76 cadets from Saudi Arabia's King Fahad Naval Academy trained at India's Southern Naval Command in Kochi, focusing on maritime operations and seamanship. India hosts personnel from 26 African countries annually, providing training in counterinsurgency and jungle warfare.
PayU's LazyPay expands quick commerce partnership with Blinkit addition
LazyPay partners with Blinkit for seamless checkout, expanding its portfolio. PayU's revenue grows in India, driven by the credit business despite regulatory challenges. India remains a key market for digital payments, with significant growth projected in digital credit transactions.
Allied Blenders and Distillers IPO booked 51% on Day 1. Check GMP and other details
Allied Blenders & Distillers IPO saw 51% subscription with promoters planning stake sale. Revenue grew 9% year-on-year to Rs 5,915 crore. ICICI Securities, Nuvama Wealth Management, and ITI Capital are the book running lead managers for the IPO.
Heat wave scorches US East Coast as dangerous temperatures expand to West
Over 100 million people in the U.S. under heat warnings as dangerous heat dome expands to the West Coast. Baltimore, Philadelphia, Idaho, Montana, and Wyoming facing extreme heat. NWS warns of dangerous conditions with heat indices above 105 F. Climate change driving deadly heat waves globally.
Daikin to sell 2 million units of AC in FY25, expand manufacturing capacity of compressors
Daikin is focused on increasing its localisation level, leveraging the PLI scheme for the air conditioning sector. The company plans to enhance local manufacturing of PCB circuits to achieve this goal.
TCS expands partnership with Xerox for transformation programme
Tata Consultancy Services (TCS) has expanded its strategic partnership with Xerox to execute an end-to-end transformation program. Xerox also has an outsourcing deal with HCLTech, signed in 2019, and plans to reduce its workforce by 15 percent as part of a 'reinvention' strategy.
Stanley Lifestyles high on luxury quotient, raises Rs 161 cr from anchors
Private equity-backed Stanley Lifestyles, the fourth-largest player in India's home furniture market, is set to launch a ₹537 crore IPO. The company's revenues have more than doubled, and net profit has grown significantly in recent years.
Awfis to expand in new markets, says CMD Amit Ramani
Awfis is targeting a 30% revenue growth in FY25, driven by expanding its supply and achieving higher occupancy rates at its current centers. The company operates in 17 cities, hosting 181 centers with approximately 110,000 seats and covering a chargeable area of 5.6 million square feet. Awfis saw its operating revenue grow 45% year on year to Rs 232.3 crore.
Music as an offering
The musician, akin to a priest, purifies before singing, treating the raga like a deity in a ceremonial ritual each morning.
Vena Solutions expands into India with new headquarters for talent growth
Vena Solutions has established a head office in Indore, Madhya Pradesh, in collaboration with Innogent Technologies, named Vena Solutions India, to recruit talent across India.
Godavari Biorefineries files DRHP to raise funds via IPO
Godavari Biorefineries plans to utilize the net proceeds from the IPO to fund the repayment or pre-payment, in full or in part, of certain outstanding borrowings amounting to Rs 240 crore. The remaining amount will be used for general corporate purposes.
Asian factory activity expands in May on robust global demand
Manufacturing activity in Asia showed growth in May according to private surveys released on Monday, fueled by increasing global demand. This development adds to optimism for a continued economic recovery in the region, particularly with China displaying initial signs of resurgence.
Mutual Funds line up 12 new offers with investor interest still strong
Motilal Oswal launched a multicap fund and JM Financial has started a small-cap fund to complete their product basket in the diversified fund space. Many fund houses are launching thematic funds that include the likes of financial services, manufacturing and special opportunities.
ITC expands its presence in Rajasthan with Storii Jaisalmer
ITC Hotels signs management agreement with Dangayach Group for Storii property in Jaisalmer, Rajasthan. Storii by ITC Hotels, Jaisalmer, a 119-key resort on Jodhpur-Jaisalmer Road, offers plush interiors reflecting cultural significance.
BharatX expands into healthcare finance with acquisition of Zenifi
Fintech startup BharatX acquires healthcare finance firm Zenifi to enter medical lending. Zenifi CEO Padam Kataria joins BharatX to lead healthcare lending vertical.
JSW Group's paint biz turns profitable; aims Rs 5,000 cr sales by FY26
JSW Paints, a leading Indian paints company, has crossed Rs 2,000 crore in revenue in FY24 and achieved its first operating profit in five years. The company aims for Rs 5,000 crore revenue in the next two years by expanding its retail presence in the home decorative business and adding more products in the industrial coating business. JSW Paints is aiming to grow faster than the market, with a target of 5 to 10 times the market growth. The company has a network of 6,000 retailers across the country and has invested Rs 900 crore in its decorative and industrial coating business.
Tea brand Freshleaf raises Rs 1 cr in seed round led by Inflection Point Ventures
Vikram Ramasubramanian, Partner, Inflection Point Ventures says, “Freshleaf’s approach to crafting premium teas combined with health benefits presents an exciting opportunity for us to contribute to a startup that is set to redefine the tea industry. We believe in Freshleaf’s dedication to fostering a culture of health, wellness and taste.”
Smartworks expands Pune portfolio, leases entire 6 lakh sq ft tower in Balewadi
Smartworks leases tower in Pune's Balewadi for coworking with 8,000 desks. The Indian market has become one of the fastest-growing centers for flexible office spaces, driven by the rising demand for adaptable workspace solutions from large corporations and dynamic startups worldwide, especially after the Covid-19 pandemic.
Chabahar Port development to help India expand trade routes; need to ensure necessary infra: GTRI
India has signed a 10-year contract to operate the strategic Iranian port of Chabahar, which will help India enhance its logistical capabilities and expand its trade routes to Central Asia. The port, which is Iran's only ocean port, is strategically located about 170 km west of Pakistan's Gwadar Port and offers an alternative maritime route to the congested Strait of Hormuz. The port is an integral component of the International North-South Transport Corridor (INSTC), a 7,200-km multi-modal transportation route connecting India with Iran, Azerbaijan, Russia, Central Asia, and Europe.
IHCL expands partnership with CG Hospitality; eyes 25 hotels in Indian sub-continent by 2025
The portfolio of 25 properties by 2025, will include 11 operating hotels with 900 keys and will add another 14, which will be under one platform -- 'Ekyam' -- to pursue opportunities in destinations that offer adventure experiences across the Indian Ocean and Greater Himalayan regions and wildlife escapes, IHCL Managing Director and Chief Executive Officer Puneet Chhatwal told reporters.
Zoomcar eyes onboarding 20,000 cars by end of FY25
Zoomcar, a car sharing platform, is set to expand its fleet by over 5000 cars by the end of FY24 and 20,000 cars by FY25. The expansion aims to meet the growing demand for self-drive car rentals, promote economic stability, and foster entrepreneurial spirit in communities. Zoomcar has partnered with industry leaders like Cars24, ACKO Drive, Spinny, and Droom to make car sharing more accessible and cost-effective. With over 10 million verified guests, hosts can earn up to Rs. 7 lakhs per year on average.
NPCI pushing new UPI players to offer incentives to expand market share
NPCI encourages new UPI apps to invest for user growth. Uncertainty looms over market share deadline extensions, hindering significant capital investment by smaller players like Cred amid concerns about reducing market leaders' share.
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