Posts tagged Rediff
Ikea shuts Mumbai City store, might open one in Pune (23-02-2024)
Furniture retailer Ikea India on Thursday said it will shut down its store in Mumbai's R City Mall by the middle of this year and explore omnichannel formats in the city. The store at R City Mall, which is spread across 72,000 sq ft, opened in June 2022 to test the viability of small-format stores. The company's plan to shut down the store illustrates the concerns surrounding the viability of running a small-format store, given the rising rentals.
Q3 sees startups turn a profitable corner (23-02-2024)
The third quarter (Q3) of 2023-24 (FY24) has proven to be pivotal, witnessing some startups turning profitable and others enhancing their performance as their businesses finally begin to deliver. Startups like Delhivery, Zomato, PolicyBazaar, Mamaearth, and Nykaa have either become profitable or improved their profit margins in Q3FY24. A renewed focus on profitability, supported by operational efficiencies, expense rein-in, and robust demand during the festival season, has empowered companies to strengthen their performance.
19% of global fund managers bullish on India: BofA (23-02-2024)
Nineteen per cent of global fund managers remain bullish on India, suggests the latest BofA Asia Fund Manager Survey (FMS). A total of 249 panelists with $656 billion worth of assets under management (AUM) participated in the survey between February 2 and 8, BofA said. Two hundred and nine participants with $568 billion AUM responded to the global FMS questions, while 145 participants with $331 billion in AUM responded to the regional fund manager survey (FMS) questions, BofA said.
Cash levels in smallcap mutual fund schemes swell (23-02-2024)
The cash pile within smallcap mutual fund (MF) schemes has grown over the past few months amid a relentless rally in stocks in this space. While fund managers usually don't make cash calls, incessant inflows and valuation discomfort have forced their hand. At the end of January, the top 10 schemes had over Rs 12,160 crore in cash, compared to Rs 8,700 crore in August 2023.
How Smart TV Is Changing India (23-02-2024)
The way video is being watched and monetised is changing. This is the first thing that stands out as the penetration of smart TVs continues to rise.
‘In an election year, markets flourish’ (23-02-2024)
'Historically, the markets tend to perform well during election years as governments aim to increase spending and call attention to growth.'
RBI’s job to bring down inflation is not over: Das (22-02-2024)
The Reserve Bank of India's (RBI's) job to bring down inflation is not over, and any premature move on the policy front could undermine the success achieved so far on the price situation, according to RBI Governor Shaktikanta Das. RBI's rate setting panel, Monetary Policy Committee (MPC), had met for three days from February 6-8. The panel decided to leave the key policy rate unchanged at 6.5 per cent for the sixth time in row.
Byju Raveendran, board members won’t attend BYJU’S EGM (22-02-2024)
Edtech firm Think and Learn Private Ltd, owner of Byju's, on Thursday said neither the company's founder and CEO Byju Raveendran nor any other board member will attend the extraordinary general meeting called by some select investors. Shareholders at Byju's are set to vote on Friday on a resolution brought by some investors to oust founder CEO Byju Raveendran and his family members over alleged "mismanagement and failures". Byju's has called the EGM "procedurally invalid" and contractually in contravention of the company's article of association and shareholder's agreement.
Govt allows onion exports to Bangladesh and 3 others (22-02-2024)
The government on Thursday permitted traders to export 54,760 tonnes of onion to Bangladesh, Mauritius, Bahrain and Bhutan till March 31. "We have allowed export of 50,000 tonnes of onion to Bangladesh, 1,200 tonnes to Mauritius, 3,000 tonnes of Bahrain and 560 tonnes to Bhutan with immediate effect," consumer affairs secretary Rohit Kumar Singh told PTI.
Amul and Modi’s BIG dream! (22-02-2024)
Prime Minister Narendra Modi on Thursday appealed to farmers and other stakeholders associated with the cooperative sector to make GCMMF, which owns the 'Amul' brand, the world's number one dairy company from its current eighth position. He was addressing nearly one lakh people, mostly cattle rearers and farmers, gathered at the Narendra Modi stadium in Motera area of Ahmedabad for the golden jubilee celebration of the Gujarat Cooperative Milk Marketing Federation (GCMMF).