Nykaa’s 1Q EBITDA fell short of our projections due to several factors, including increased discounting, decreased advertising revenue, and a disappointing gross margin (GM) performance, among other reasons. The challenging macroeconomic environment has had a notable impact on the fashion industry’s growth, while the Beauty, Personal Care, and Cosmetics (BPC) sector maintained its position with […]
India’s coal output rises nearly 11 pc in Dec to 92.87 MTIndia’s coal output rises nearly 11 pc in Dec to 92.87 MT
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official statement said on Tuesday.The country’s coal output was 83.86 MT in December 2022. “The coal sector has witnessed an unprecedented upswing, with production, dispatch and stock levels soaring to remarkable heights,” the […]
‘Angel tax: New norms to strike balance between FEMA, IT rules’‘Angel tax: New norms to strike balance between FEMA, IT rules’
The new valuation rules prescribed by the government for equity shares held by non-resident investors in India unlisted companies, including start-ups, are meant to strike a balance between FEMA (Foreign Exchange Management Act) related valuation and IT-based rules, said Rajat Bansal, principal chief commissioner of income tax, Central Board of Direct Taxes (CBDT) on Thursday. […]
Will likely launch IPO in next 3 years, says CredAble CEOWill likely launch IPO in next 3 years, says CredAble CEO
CredAble will likely launch an initial public offering in the next three years, says Co-founder and Chief Executive Officer Nirav Choksi.In the meantime, the company may do a funding round in the next eight-to-nine months. “We will probably go public in the next three years. We will look to raise funding maybe 8-9 months from […]
Cyclone Biparjoy: High waves hit Mumbai! Gujarat braces itself as sea turns rough – See PicsCyclone Biparjoy: High waves hit Mumbai! Gujarat braces itself as sea turns rough – See Pics
1/10 The extremely severe cyclonic storm ‘Cyclone Biparjoy’ weakened on Tuesday into a very severe cyclonic storm, the India Meteorological Department (IMD) informed. Currently, the cyclone is centered approximately 290 km southwest of Gujarat’s Porbandar and is moving northwards at a speed of five kilometers per hour. According to the weather department, Biparjoy is expected […]
Tiger-backed fund sells over 122 mn shares in ZomatoTiger-backed fund sells over 122 mn shares in Zomato
Internet Fund III, a Tiger Global-backed VC fund, offloaded 122 million shares in Zomato representing a 1.43% stake via a block deal on Monday. At Rs 91 a share, the deal value amounted to Rs 1,115 crore. The lock-in period of shares allotted to Blinkit shareholders during Zomato’s acquisition of the quick commerce entity ended […]
Indian Railways train delay update: 26 trains delayed as fog, cold wave grips north India – Check complete list hereIndian Railways train delay update: 26 trains delayed as fog, cold wave grips north India – Check complete list here
The dense fog in Delhi affected various train services, with the Indian Railways reporting that a total of 26 trains are experiencing delays in the national capital due to reduced visibility caused by the thick fog. “26 trains running late in Delhi area due to fog,” the Indian Railway said in a statement. According to […]
Adani Ports expects to handle 400 MMT of cargo in FY24Adani Ports expects to handle 400 MMT of cargo in FY24
Adani Ports and Special Economic Zone (APSEZ) expects to handle 400 million metric tonne (MMT) of cargo in FY24, beating its earlier guidance of 370-390 MMT for the year. The country’s largest private port operator recorded cargo volumes of 35.65 MMT in December, a 42% rise from the same period last year. The Adani group […]
Continuity theme at Kotak BankContinuity theme at Kotak Bank
In its analysis, ICICI Securities says the decision of Uday Kotak to step down from an executive role around 4 months ahead of the scheduled term has come as a somewhat negative surprise. Important to note is that Kotak would still remain associated with the bank as a non-executive director (thereby ensuring continuity). The key […]
Firms get flexibility on borrowing via bondsFirms get flexibility on borrowing via bonds
The Securities and Exchange Board of India (Sebi) said on Thursday it would grant more flexibility to large companies for incremental borrowing via bonds, and has decided to remove penalties on companies which were unable to meet the mandatory bond market borrowing quota. The decision was taken at the board meeting of the Securities and […]