MASS EXECUTIONS
Pumps, pipes, credit, mass housing and employment generation could be the focus areas in Budget: Yogesh Patil
Manufacturing focus from government actually will create higher jobs and improve the per capita income. So, mass consumption category, which has not done well in last two years, is expected to do well in coming years.
This festive season, mission is possible: Companies to stockpile weapons of mass consumption
Manufacturers are gearing up for a surge in demand, anticipating a boost in sales for smartphones, refrigerators, wearables, and two-wheelers during the upcoming festive season. The industry is optimistic about growth, especially in rural India, with expectations of exceeding previous sales records.
Fund Manager Talk | Rally in rail, defence stocks at execution risk: Krishnan VR
The portfolio was up 1.7% in May compared to 0.8% for the benchmark BSE 500 total return index. Because many portfolio companies reported their fourth quarter (and full year) results last month, the performance was partly driven by positive earnings surprises
SaaS startup Testsigma raises $8.2 million led by MassMutual Ventures
Existing investors Accel, Strive and BoldCap also participated in the round, Testsigma said on Wednesday. The company had previously raised $4.6 million in 2022.
Biden prepares a tough executive order that would shut down asylum after 2,500 migrants arrive a day
The White House is discussing plans for President Biden to issue an executive order closing asylum requests at the U.S.-Mexico border if daily encounters hit 2,500 between ports of entry, reopening when the number falls to 1,500. This move aims to control border numbers and is expected to be announced on Tuesday.
The rise of AI in recruitment process: How companies are using artificial intelligence for hiring
Companies use AI tools like GenAI bots for candidate sourcing, resume screening, and skills assessment. HR executives say AI makes hiring quicker and more efficient. Genpact launched IMatch, an AI-based job-matching engine, resulting in improved productivity and faster hiring.
British fund manager abrdn's CEO Stephen Bird to step down
Following a significant strategic repositioning of the company, the board and Bird agreed that it is time for the executive "to hand over the reins to the team he has assembled over the last four years to drive the business forward," abrdn said in a statement.
Iran President Raisi's death: 'It wasn't us,' says Israel, following tragic helicopter crash
An Israeli official denies involvement in the helicopter crash that claimed the life of Iranian President Ebrahim Raisi, as reported by Reuters. Raisi, a staunch supporter of Iran's supreme leader, died alongside officials in the crash. His presidency marked continued confrontation with the US and Israel, following Trump's withdrawal from the nuclear agreement.
RBI allows Ujjivan Small Finance Bank to rope in former SBI veteran as MD & CEO
The Reserve Bank of India has approved Sanjeev Nautiyal as the Managing Director & CEO at Ujjivan Small Finance Bank for three years, effective from July 1, 2024. Nautiyal, with over three decades of banking experience, will hold the position of President before officially assuming his role, subject to shareholder approval. Ujjivan praised Nautiyal's leadership qualities and strategic retail banking expertise, expressing confidence in his ability to further the bank's mission of financial and digital inclusion.
US sanctions China, Belarus companies for Pakistan missile-linked gear
While China has been the biggest supplier of weapons and technology to Pakistan in recent years, the link between a Belarusian entity and Pakistan has come as a surprise to many experts. Ukraine, however, is known to have supplied defence items to Pakistan since the dissolution of the Soviet Union. On the implications of the sanctions, the US said, "As a result of today's action, all property and interests in property of the designated persons described above that are in the US, or in possession or control of US persons, are blocked and must be reported to the Department of Treasury's Office of Foreign Assets Control (OFAC)."
AI PCs running LLMs without net to solve data privacy issues: Dell executive
LLM applications such as the text-to-image generator Stable Diffusion, video editing software Adobe Premiere Pro, as well as music generation tool Audacity can now run more efficiently on devices with faster processing and auto-enhancement capabilities, the company demonstrated.
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.
Helping Indian electric mobility dreams come true
Investors foresee 'India's decade' with significant GDP growth and population rise. The country targets 90% renewable energy by 2047 for net zero emissions by 2070. GreenCell Mobility's electric bus deployment in Surat marks a step towards sustainable transportation.
Indian Premium League: Premiumisation picks up pace for large consumer goods companies
More than 70% of the new products launched by India's largest consumer goods maker Hindustan Unilever in last two years were in the premium segment. Around 65% of all new personal care product launches were in the premium segment for ITC Ltd, doubling the contribution of such products to the division's sales in the last four years to 38%. For the largest biscuit maker Parle Products, around 60-65% of new launches were in the premium segment as compared to 40% pre-Covid.
Airtel, Jio hand out handset offers for 5G takeoff
Bharti Airtel recently announced an exclusive partnership with smartphone company Poco, wherein the 5G smartphone price has been brought down to ₹8,799 along with data bundling. It is likely to come out with similar partnerships with other handset makers, people familiar with the matter said. Reliance Jio, on its part, has been working alongside Reliance Retail to offer discounts on smartphones.
Gopal Vittal asks Airtel executives to be on ground today to fix customer issues
Bharti Airtel's managing director, Gopal Vittal, has called on the company's 19,000 employees across India to cancel business meetings on Tuesday and spend the entire day with customers to address service challenges they face. This is part of a national brand-building drive to position Airtel as a customer-obsessed telco, seeking direct market feedback on its 2G, 4G, and 5G mobile operations and home broadband services.
Wedding-related consumption remains muted amid fewer dates, slowdown
As per industry estimates, sales of categories like ethnic wear and wedding wear, gold jewellery and electronic household appliances have declined by 10-20% in FY24 till February as compared to the same period in FY23. However, luxury and premium products bucked the trend of sales decline mirroring the overall trend in consumption, chief executives said.
FMCG companies roll out online-first items for mass market
FMCG cos are targeting the mass segment by launching digital first products at lower prices due to the growth of e-commerce. This shift includes companies like Parle Products, Emami, Dabur, and Hindustan Unilever (HUL), driven by the need to reduce online costs and increase volume sales.
Tech layoffs in 2024: TikTok, Google and Amazon among companies undertaking job cuts
The new year brings more job cuts to the tech industry as layoffs continue in 2024. Thousands of tech and startup employees have been laid off, with 48 tech companies sacking 7,528 employees so far. Big Tech giants like Google and Amazon are planning to cut more jobs to reduce costs. Riot Games, Google, Amazon Audible, Amazon Prime Video, Twitch, Discord, Unity Software, Xerox, and Frontdesk are among the tech companies that have announced layoffs in 2024.
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