Chief Economic Advisor (CEA) V Anantha Nageswaran considers absolute poverty a more direct and pressing concern for India. He argues that inequality is a relative concept. Simultaneously, with formerly economically deprived sections joining the ranks of the middle class, policy attention needs to extend beyond ‘roti, kapda, makaan’ to keep the growth engine up and running.
Posts tagged Rediff
Have Zomato, Swiggy figured out the right recipe? (22-12-2023)
Something is cooking in online food delivery. After 15 years of grappling with the demands of the business – read cash burn – Gurugram-based Zomato reported its first profit in the first quarter of 2023-24 (FY24). Not satiated, it reported a profit in the following quarter as well: Of Rs 36 crore in the second quarter compared to Rs 2 crore in the first. A year ago, in the second quarter of FY23, it had reported a loss of Rs 251 crore.
Have Zomato, Swiggy figured out the right recipe? (22-12-2023)
Something is cooking in online food delivery. After 15 years of grappling with the demands of the business – read cash burn – Gurugram-based Zomato reported its first profit in the first quarter of 2023-24 (FY24). Not satiated, it reported a profit in the following quarter as well: Of Rs 36 crore in the second quarter compared to Rs 2 crore in the first. A year ago, in the second quarter of FY23, it had reported a loss of Rs 251 crore.
RuPay cards may help SBI Cards gain share on UPI spend (22-12-2023)
Recent RBI data indicates net addition of credit cards is running strong at 18 per cent year-on-year (Y-o-Y), but growth in credit card limits is ahead of loans outstanding. Growth in lower limit cards is decelerating fastest. The West and South have more usage and online transactions are more popular than offline, with metros leading growth.
‘We’ve invested in the growth of India’ (22-12-2023)
We are, therefore, setting up more branches in more tertiary terms, like tier 2 and tier 3 terms. Going forward, that is where the growth will come.
Entrepreneurs, $20 Bn Is Waiting For You (22-12-2023)
‘In the next 15-20 years, India will have at least 50 new (AI-driven) billion-dollar companies that are going to solve problems for the largest companies around the world.’
PE inflow in realty declines to $3 bn: Knight Frank (21-12-2023)
Global investors have been cautious this year to put money into Indian real estate, as private equity inflow is down 44 per cent till December 12 to $3 billion compared to the entire previous year, according to Knight Frank. Real estate consultant Knight Frank India on Thursday released its data showing that the Indian real estate market received $3,024 million in PE investments from 23 deals between January 1 and December 12 this year, as against $5,357 million recorded in 2022.
Sensex rebounds 358 pts on buying in HDFC Bank, RIL (21-12-2023)
Among the Sensex firms, Power Grid, HDFC Bank, Kotak Mahindra Bank, Reliance Industries, NTPC, State Bank of India, Tata Steel and Bharti Airtel were the major gainers. Bajaj Finance, Axis Bank, HCL Tech and Mahindra and Mahindra were among the major laggards.
ShareChat sacks 200 staffers as it eyes profitability (21-12-2023)
Social media unicorn ShareChat has laid off 200 employees, around 15 per cent of its workforce, in another round of layoffs this year to reduce costs and achieve profitability within the next six quarters. In January, Mohalla Tech Pvt Ltd, the parent company of platforms ShareChat and Moj, fired 500 employees, 20 per cent of its workforce. The same month, company co-founders Bhanu Pratap Singh and Farid Ahsan also stepped down from executive roles.
IPO rush ahead of FPI holiday season (21-12-2023)
More than half a dozen companies will hit the market with their initial public offerings (IPOs) between now and the end of next week. The cumulative amount raised from these IPOs is expected to be around Rs 8,000 crore. Stationery products firm DOMS Industries and home financier India Shelter Finance’s IPOs – of Rs 1,200 crore each – got off to a flying start on Wednesday (December 13), with the former garnering over six times the subscription and the latter getting 1.5 times subscribed.