Zepto is launching a separate app, Zepto Café, to deliver food items like chai, samosa, and pizza within 10 minutes. This move challenges established players like Zomato and Swiggy in the rapidly growing quick-commerce food delivery market.
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The imposition of US tariffs on textile imports presents a mixed bag for the Indian textile industry. While it offers a competitive advantage over other exporting nations, it also poses challenges
SBI and HDFC Bank have started 2024 by enhancing deposit rates. SBI offers super senior citizens new benefits while HDFC has revised bulk deposit rates. SBI also introduces goal-oriented products like 'Har Ghar Lakhpati' to assist customers in achieving savings targets, with both banks setting higher competitive rates.
Finance Minister Nirmala Sitharaman urged industries to diversify supply chains, considering political and strategic factors beyond economics. She emphasized the need to avoid over-reliance on any single nation, seemingly referencing China, and cautioned against excessive borrowing, highlighting global conflicts and inflation as key concerns requiring international cooperation for stability.
Infosys has announced salary hikes of 5% to 8% for employees ranging from junior to senior roles up to job level 7, with top performers receiving double-digit hikes. Increments for title holders will be rolled out in April. The average salary hike for India employees is between 6% and 8%. Infosys plans to hire 15,000 freshers this quarter and 20,000 freshers in 2025-26.
President-elect Donald Trump's newly debuted digital token, trading under the “Trump†ticker on the Solana blockchain, surged to a $15 billion market value over the weekend, causing major speculative activity within the cryptocurrency market. However, its value decreased to below $10 billion following the launch of a similar token by his wife, Melania.
FMCG companies are set to experience a contraction in gross margins and modest-to-flat operating profits in the Dec quarter due to inflation, higher input costs, and pricing increases. Although there's a low single-digit revenue rise, rural markets are performing better amid urban consumption decline driven by high food inflation.
Sebi exempts the Indian government from making an open offer to Vodafone Idea shareholders, as the government plans to acquire over 34% stake by converting spectrum dues into equity. This move, aimed at protecting public interest, will help VIL maintain its customer base and enhance telecom penetration in India without changing company control.
DeepSeek, a Chinese AI app, has achieved the top spot in Apple's App Store productivity category, surpassing ChatGPT. Founded by Liang Wenfeng, DeepSeek’s R1 AI model is noted for its efficiency and low cost. It’s gaining global attention for its strong performance and has been praised by industry leaders, though some remain skeptical about its development costs.
Analysts predict that reciprocal tariffs starting April 2 may impact equity markets, along with overseas market trends and FII activity. Investors will also focus on global developments, PMI data, rupee-dollar trends, and Brent crude prices. Given recent modest FII buying and quarterly earnings reports, potential tariffs could play a vital role in market movements.
Reliance Consumer Products has acquired the Sil brand, specializing in packaged food items, from Food Service India. This move intensifies market competition with major players like Hindustan Unilever. Reliance plans to revitalize the 75-year-old brand while expanding its market presence, focusing only on the brand and not its manufacturing units or employees.