With egg prices soaring due to avian flu, Jet-Puffed has introduced a budget-friendly alternative for Easter: marshmallow decorating kits. These kits, priced at $1.99, include marshmallows, dyes, and decorating tools, offering a festive and affordable way to celebrate the holiday. While egg prices remain high, this innovative solution caters to families seeking to maintain traditions without overspending.
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Luxury watch brands are experiencing a surge in demand across metro and tier-2, tier-3 cities in India in 2024, despite a global slowdown, especially in China. Increased affluence and competitive pricing in India are driving growth, with cities like Mangalore and Pune becoming significant markets, prompting global brands to expand their presence.
RailTel Corporation's shares jumped 9.6% after securing a Rs 25.15 crore contract from HPCL for MPLS/Internet services over five years. Despite recent gains, RailTel stocks have seen a YTD decline of 16.80%. Currently trading at Rs 328 with a 6.10% increase, the stock shows neutral momentum with an RSI of 52.
Economic Survey highlights the positive impact of linking financially less privileged rural women to self help groups, welfare schemes, and direct benefit transfers. These initiatives have reduced inequality, increased consumption spending, and improved quality of life for rural households, as revealed by a survey conducted in Bihar, Jharkhand, Madhya Pradesh, and Uttar Pradesh.
The newly recognized Samsung employees' union at the Chennai plant is set to hold talks with management on wage revision and improved working conditions. Registered by the state labor department following a high court directive, the union represents around 1,400 workers and aims for a pay hike and better benefits.
Adani Group and Aditya Birla Group are set to enter the high-growth wires and cables sector, challenging an industry dominated by smaller, unorganized players. This move is expected to disrupt the market significantly. Both conglomerates have invested heavily, with Adani forming a joint venture and Aditya Birla announcing a major investment and plans for a new plant.
Russian oil exports to India have dropped 25% in February amid sanctions, while US shipments surged nearly 100%. The overall Middle East exports to India for February might be lower than the initial 20-day average, as loadings typically decrease in the latter half of each month.
India's net direct tax collections for the fiscal year have increased by 13.13% to over Rs 21.26 lakh crore, driven by higher advance tax collections. Corporate tax collections rose by 12.54%, while non-corporate tax collections, including personal income tax, surged by 20.47%. Meanwhile, the Securities Transaction Tax (STT) saw a nearly 56% increase.
Laxmi Dental Ltd's IPO got fully subscribed within minutes, ending the day at 5.28 times subscription with significant interest from retail and non-institutional investors. The IPO is a mix of fresh issues and OFS, with proceeds aimed at debt repayment and capital expenditure. Shares will be listed on BSE and NSE.
Hon Hai Precision Industry Co. reported a 13% drop in net income due to weak Chinese iPhone sales, impacting its margins. Despite this, the company predicts a significant growth in AI-related revenue this quarter, driven by its role as a key assembler for Nvidia's AI servers.
The International Gemmological Institute (India) Ltd's IPO was subscribed 72% on its second day. Retail investors showed strong interest, while institutional investors lagged. The IPO aims to raise ₹4,225 crore, with a portion going towards acquiring IGI Belgium and IGI Netherlands. The offer closes December 17.