FMCG giant Hindustan Unilever is in advanced talks to acquire D2C beauty brand Minimalist, valuing the startup at approximately Rs 3,000 crore. This acquisition will enhance HUL's product portfolio to meet the growing demand for differentiated beauty and personal care solutions, catering to changing consumer preferences towards premium and clean beauty products.
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Outgoing RBI Governor Shaktikanta Das emphasized inflation control as the central bank's top priority. Das provided insights into the crucial challenges awaiting the central bank whilst expressing optimism about his successor's capabilities, as he reviewed his six-year leadership period.
The Confederation of Indian Industry (CII) urges the government to streamline regulatory approvals through a national single window system, integrate all central ministries, and simplify frameworks to boost ease of doing business. Key proposals include time-bound approvals, faster dispute resolution, and improved land access.
India's micro finance institutions (MFIs) have seen a surge of over 2,176 per cent in growth from Rs 17,264 crore in March 2012 to Rs 3.93 lakh crore by November 2024. Challenges such as fundraising and portfolio quality were discussed in a DFS meeting, with suggestions for credit guarantees and special funds.
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.
DGCA fined Air India Rs 30 lakh for allowing a first officer to fly without fulfilling the mandatory recency requirement of three take-offs and landings. The violation occurred on July 7, and multiple alerts were ignored by rostering controllers. Air India has been ordered to take action against three senior rostering officials and inform DGCA within 15 days.
Yes Bank disclosed that it has received a demand notice for Rs 2,209 crore from the income tax department for the 2019-20 assessment year. Although the reassessment confirmed the original income assessment without additional changes, an unexpected demand including interest has been raised against the bank.
Reliance Industries Ltd surpassed analyst estimates with a 7.4% rise in net income, driven by strong gains in its telecom and retail units. Revenue increased by 6.6%, totaling 2.43 trillion rupees. Chairman Mukesh Ambani noted the resilience of the oil-to-chemicals business amid global volatility. The company also benefited from festive demand boosting retail performance.
India has the chance to leverage the issue of US reciprocal tariffs to negotiate mutual tariff reductions, turning a potential trade conflict into a win-win bargain. This cooperative approach could grant better access for Indian goods to the US market, while the reciprocal tariffs could otherwise lead to a harmful tariff war for both nations.
India and the US have agreed to hold sector-specific talks for a bilateral trade agreement aimed at doubling trade to USD 500 billion by 2030. Discussions will focus on increasing market access, reducing tariffs, and enhancing supply chains. The US seeks duty concessions in various sectors, while India is eyeing benefits for its labour-intensive industries.
Airtel and Reliance Jio have announced deals to market Elon Musk's Starlink satellite internet in India, pending regulatory approvals. These partnerships aim to enhance network coverage, especially in rural and remote areas where connectivity is limited. Satellite internet services will, however, be more expensive and initially cater to enterprise sectors.