#Zomato’s shares have declined by as much as 36% in the last one year, sharply underperforming the Nifty 50 index.
The upcoming March quarter results too, are unlikely to surprise meaningfully.
https://www.livemint.com/market/mark-to-market/zomatos-shares-slump-36-in-a-year-q1-results-unlikely-to-surprise-as-losses-persist-due-to-quick-commerce-arm-blinkit-s-expansion-costs-11681834771786.html
The upcoming March quarter results too, are unlikely to surprise meaningfully.
https://www.livemint.com/market/mark-to-market/zomatos-shares-slump-36-in-a-year-q1-results-unlikely-to-surprise-as-losses-persist-due-to-quick-commerce-arm-blinkit-s-expansion-costs-11681834771786.html
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Why Zomato’s profit path is rocky
In the December quarter, which is the first full quarter of Blinkit’s consolidation, Zomato’s net loss stood at ₹347 crore.
The El Nino weather pattern, historically tied to droughts and reduced farm output in India, is expected to affect another critical aspect of the local economy this year: wind power generation.
https://www.livemint.com/news/india/el-nino-to-impact-wind-power-generation-in-india-as-wind-speeds-slow-during-historically-high-wind-months-of-june-to-september-warns-industry-11681841486277.html
https://www.livemint.com/news/india/el-nino-to-impact-wind-power-generation-in-india-as-wind-speeds-slow-during-historically-high-wind-months-of-june-to-september-warns-industry-11681841486277.html
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Now, wind power braces for El Nino
The effects of El Nino, which occurs due to the warming of the Pacific Ocean waters, on wind power generation in India could lead to lower output amid soaring summer temperatures, driving up electricity demand
Government has made changes to the #windfalltax on domestic #crudeoil production to simplify the tax system and encourage investments.
The revised tax rate is now set at ₹6,400 per tonne.
Read here: https://www.livemint.com/news/india/windfall-tax-on-domestic-crude-to-rs-6-400-eliminates-diesel-export-duty-11681870764151.html
The revised tax rate is now set at ₹6,400 per tonne.
Read here: https://www.livemint.com/news/india/windfall-tax-on-domestic-crude-to-rs-6-400-eliminates-diesel-export-duty-11681870764151.html
#Google Inc, which is among the world's top-5 companies by value, is gradually cutting back employee benefits as per reports by international media.
Read here: https://www.livemint.com/news/india/no-more-free-massage-fitness-centers-google-cuts-down-employee-perks-after-firing-12-000-staff-11681867685981.html
Read here: https://www.livemint.com/news/india/no-more-free-massage-fitness-centers-google-cuts-down-employee-perks-after-firing-12-000-staff-11681867685981.html
#Startup valuations in the private market are beginning to crack as investors save dry powder & deploy cash selectively, multiple investors and investment bankers said.
https://www.livemint.com/news/india/mumbai-startups-valuations-drop-as-investors-become-selective-report-11681841730606.html
https://www.livemint.com/news/india/mumbai-startups-valuations-drop-as-investors-become-selective-report-11681841730606.html
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Valuations dive in pvt markets as VCs count cash
Several unicorns in consumer tech, edtech and health tech are still looking for investors even at a down round
Uday Kotak tweeted to say 9 American, 1 Saudi. No European, Chinese or Indian company as the top 10 companies in the world in terms of market cap.
https://www.livemint.com/photos/top-10-companies-in-the-world-by-market-value-11681869150723-1.html
https://www.livemint.com/photos/top-10-companies-in-the-world-by-market-value-11681869150723-1.html
https://www.livemint.com
Top 10 companies in the world by market value
As #Apple opens its first stores, here is a timeline of its journey in India, where the U.S. firm's contract manufacturers are increasingly making iPhones.
https://www.livemint.com/news/india/from-iphone-3g-to-first-retail-store-apple-s-15-year-journey-in-india-11681875107442.html
https://www.livemint.com/news/india/from-iphone-3g-to-first-retail-store-apple-s-15-year-journey-in-india-11681875107442.html
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From iPhone 3G to first retail store: Apple's 15-year journey in India
Here's a timeline of Apple's 15 year long journey in India from the iPhone 3G launch in 2008 to the company opening its first store in Mumbai.
According to the Global Unicorn Index 2023 by Hurun, #India continues to be the world's third-largest country with the highest number of #unicorns, following US & China.
Read here: https://www.livemint.com/news/india/huruns-global-unicorn-index-2023-labels-swiggy-dream11-as-india-s-top-unicorns-11681874961980.html
Read here: https://www.livemint.com/news/india/huruns-global-unicorn-index-2023-labels-swiggy-dream11-as-india-s-top-unicorns-11681874961980.html
#BYJU'S is one of the top 10 #unicorn #startups worldwide that experienced a significant increase in valuation since the pre-Covid-19 era, with a valuation of $22 billion.
Read here: https://www.livemint.com/news/india/huruns-global-unicorn-index-2023-labels-swiggy-dream11-as-india-s-top-unicorns-11681874961980.html
Read here: https://www.livemint.com/news/india/huruns-global-unicorn-index-2023-labels-swiggy-dream11-as-india-s-top-unicorns-11681874961980.html
#NewYork has once again topped the list of the world’s wealthiest cities, with approximately 340,000 millionaires last year, according to investment migration firm Henley & Partners.
Read here: https://www.livemint.com/news/world/this-asian-city-has-beaten-austin-texas-to-record-highest-10-year-growth-in-high-net-worth-individuals-11681869532649.html
Read here: https://www.livemint.com/news/world/this-asian-city-has-beaten-austin-texas-to-record-highest-10-year-growth-in-high-net-worth-individuals-11681869532649.html
Indian #tech firms have been trading extremely volatile this week sparkled after #TCS and #Infosys posted lower-than-expected Q4 earnings.
https://www.livemint.com/companies/news/q4fy23-just-a-sneak-peak-banks-crisis-in-us-and-europe-may-impact-indian-it-firms-first-quarter-of-fy24-11681896098261.html
https://www.livemint.com/companies/news/q4fy23-just-a-sneak-peak-banks-crisis-in-us-and-europe-may-impact-indian-it-firms-first-quarter-of-fy24-11681896098261.html
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Q4FY23 just a sneak peak, banks crisis in US, Europe may impact Indian IT firms' first quarter of FY24
For FY24, Kotak said, the estimates for the fiscal were supposed to be weak and should play out that way. The brokerage expects banking crisis in US and Europe to impact Indian IT firms in June 2022 quarter.
FY23 emerged as a fruitful year for gold as the yellow metal gained popularity in investment options as uncertainties loomed in the global financial markets.
https://www.livemint.com/news/india/gold-likely-to-give-12-returns-in-fy24-as-uncertainties-loom-in-global-financial-markets-what-should-investors-do-11681898304915.html
https://www.livemint.com/news/india/gold-likely-to-give-12-returns-in-fy24-as-uncertainties-loom-in-global-financial-markets-what-should-investors-do-11681898304915.html
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Gold likely to give 12% returns in FY24 as uncertainties loom in global financial markets. What should investors do?
In FY24, gold may give 12% returns. Factors like recession fears, a meltdown in economic activity in the US, and supply and demand dynamics are likely to work in favour of gold. The yellow metal has climbed by 20% since last year's Akshaya Tritiya.
As the #SupremeCourt continues to hear petitions demanding legal recognition of same-sex marriages for the second day on Wednesday, Chief Justice of India #DYChandrachud is in the midst of a #Twitter storm for the observations he made during the first day of the hearing.
Read here: https://www.livemint.com/news/india/samesex-marriage-cji-chandrachud-faces-backlash-for-notion-of-man-woman-not-absolute-based-on-genitals-11681895773900.html
Read here: https://www.livemint.com/news/india/samesex-marriage-cji-chandrachud-faces-backlash-for-notion-of-man-woman-not-absolute-based-on-genitals-11681895773900.html
In its report, #LinkedIn noted that there has been a shift from #tech companies, which dominated the list last year, with firms across financial services, oil & gas, professional services, manufacturing and gaming featuring in this year's list.
Read here: livemint.com/news/india/tcs-tops-linkedin-s-2023-best-place-to-work-in-india-followed-by-amazon-11681901922814.html
Read here: livemint.com/news/india/tcs-tops-linkedin-s-2023-best-place-to-work-in-india-followed-by-amazon-11681901922814.html
The Egyptian pound has lost about half its value against the dollar over the past year, pushing millions into poverty in the #Arab world's most populous country.
https://www.livemint.com/news/world/egyptians-struggle-to-afford-food-this-ramadan-as-crisis-worsens-11681904960746.html
https://www.livemint.com/news/world/egyptians-struggle-to-afford-food-this-ramadan-as-crisis-worsens-11681904960746.html
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Egyptians Struggle to Afford Food This Ramadan as Crisis Worsens
President Sisi comes under growing pressure as inflation nears record highs
#India should surpass #China's population midway through this year, according to the latest projection from the #UnitedNations.
https://www.livemint.com/news/india/india-surpasses-china-as-most-populous-nation-why-does-this-matter-11681917925150.html
https://www.livemint.com/news/india/india-surpasses-china-as-most-populous-nation-why-does-this-matter-11681917925150.html
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India surpasses China as most populous nation. Why does this matter?
In India, that means a growing labor force and growth that sparks economic activity. In China, that means fewer working-age adults able to support an aging population
A day after agreeing to a cease-fire, the two forces, which turned #Sudan into a battleground for power, continued launching attacks against each other on Wednesday.
https://www.livemint.com/news/world/sudan-crisis-people-struggle-for-drinking-water-and-electricity-as-unrest-grips-country-11681901851820.html
https://www.livemint.com/news/world/sudan-crisis-people-struggle-for-drinking-water-and-electricity-as-unrest-grips-country-11681901851820.html
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Sudan crisis: People struggle for drinking water and electricity as unrest grips country
As the battle between RSF and Sudan army entered into fifth day, scarcity of drinking water and electricity has made it difficult for people to survive in the country
The announcement comes amid increasing global competition among carmakers to ramp up their electric vehicle portfolio, & capture a bigger slice of the EV pie.
https://www.livemint.com/auto-news/jlr-pledges-15-bn-to-advance-emobility-11681928309241.html
https://www.livemint.com/auto-news/jlr-pledges-15-bn-to-advance-emobility-11681928309241.html
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JLR pledges £15 bn to advance e-mobility
The announcement comes amid increasing global competition among carmakers to ramp up their electric vehicle portfolio, and capture a bigger slice of the EV pie.
#Netflix’s mobile-only plan, priced at ₹199 per month earlier, now costs ₹149. Similarly, the basic plan allowing access to all content on any one device is priced at ₹199 versus ₹499 earlier.
https://www.livemint.com/companies/india-turns-a-big-prize-for-netflix-as-price-cut-pays-off-11681929058442.html
https://www.livemint.com/companies/india-turns-a-big-prize-for-netflix-as-price-cut-pays-off-11681929058442.html
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India turns ‘a big prize’ for Netflix as price cut pays off
Engagement in India grew nearly 30% year-on-year, while foreign exchange neutral revenue growth accelerated to 24% in 2022 from 19% in 2021, the company said.
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#Apple plans to double the number of jobs created in India, building on the 100,000 it generated over the past two years through manufacturing and other operations.
https://www.livemint.com/companies/news/apple-plans-to-double-job-creation-in-india-seeks-policy-predictability-and-manpower-training-in-government-discussions-with-ceo-tim-cook-11681929340331.html
https://www.livemint.com/companies/news/apple-plans-to-double-job-creation-in-india-seeks-policy-predictability-and-manpower-training-in-government-discussions-with-ceo-tim-cook-11681929340331.html
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Tim Cook commits to doubling jobs creation in India
Apple plans to double the number of jobs created in India, building on the 100,000 generated in the past two years through manufacturing and other operations. .Apple is also exploring options to expand its manufacturing base in India and bring other product…
Soaring #gold prices have prompted Titan Co. Ltd’s jewellery arm #Tanishq to reinstate its advanced booking option, allowing buyers to lock in the price of the yellow metal ahead of auspicious occasions such as the #AkshayaTritiya.
https://www.livemint.com/companies/news/tanishq-cashes-in-on-gold-price-boom-with-early-booking-option-11681929260236.html
https://www.livemint.com/companies/news/tanishq-cashes-in-on-gold-price-boom-with-early-booking-option-11681929260236.html
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Tanishq cashes in on gold price boom with early booking option
It is also amplifying its gold-exchange programme and introducing an affordable range of jewellery to woo consumers.