New Delhi: Deepinder Goyal-led Eternal Ltd has reported a 67% increase in consolidated revenue to Rs.7,563 crore from Rs.4,520 crore from Q1FY24. In a letter to its shareholders, the company explained that its food delivery Net Order Value (NOV) growth has reduced by half from 27% YoY to 13% YoY due to subdued demand. Overall, the company’s profit has declined 90% from Rs.253 crore in Q1FY25 to Rs.25 crore in this quarter. Formerly known as Zomato, the company has rebranded to Eternal as it now wants to be seen as an umbrella company comprising of Zomato (food delivery), Blinkit (quick…
Author: Abizar Attari
Abizar Attari
I’ve always had a fascination with storytelling. Analyzing diverse perspectives and helping people understanding them simply is my life’s motto. I live to create stories that you’d love to read. When I’m not writing, you'll find me having a leisurely stroll on the beach or in the park.
Read More
Despite protracted negotiations, 2025 has seen two major conflicts where the warring countries haven’t made peace with one another. Israel-Iran and India-Pakistan’s skirmishes have dominated headlines, even as the Russia-Ukraine and Israel-Hamas wars continue intermittently. Technological superiority has mattered here, as both Iran and Pakistan couldn’t protect themselves from missiles and drones launched from Israel and India, respectively. Both countries had their air defence systems in place- Iran had its indigenously developed Bavar-373, and Pakistan used Chinese-supplied HQ-16 Air Defence systems. Both didn’t work the way they were expected to, giving their adversaries the upper hand. Although not all global…
Washington, DC: US President Donald Trump signed the GENIUS Bill into law on Friday, July 18, to offer a comprehensive regulatory framework to dollar-pegged cryptocurrencies known as stablecoins. The Bill was passed in the US Congress with a majority of 308 to 122, with support from nearly half of the Democratic members and most Republicans. This law, one of the ‘crypto week’ bills to be considered by Congress, marks the fulfillment of a key campaign promise by Donald Trump as his administration aims to regularize its use. Cryptocurrencies, once derided as fringe assets, have seen a meteoric rise lately, with Bitcoin’s…
Mumbai: German reinsurer Allianz SE recently broke its 24-year-old JV with Bajaj Finserv to announce its intent to partner with Jio Financial Services Limited (JFSL) for a reinsurance joint venture. This comes just months after BlackRock re-entered the mutual fund space in India with a venture aimed at capitalising on Jio’s brute digital reach. The partnership will also involve setting up 2 separate ventures for general and life insurance after meeting regulatory and statutory approvals. The JV aims to leverage Allianz’s existing Allianz Re and Allianz Commercial portfolios in India. Allianz’s previous experience in the market will be crucial here,…
New Delhi: After tasting some success with the Campa Cola brand revival, Mukesh Ambani-led Reliance Retail is trying to replicate the same playbook in the consumer durables sector. On Friday, July 18, the company announced the acquisition of the Kelvinator brand with an aim to get a foothold in the consumer durables sector. “This acquisition strategically aligns with Reliance Retail’s vision of democratising aspirational living. By integrating Kelvinator’s rich legacy of innovation with Reliance Retail’s expansive and unparalleled retail network, the company is set to unlock substantial consumer value and accelerate growth in the rapidly expanding premium home appliances market…
New Delhi: Tata-owned Indian Hotels Company Limited (IHCL) has reported a net profit of Rs.296 crore as against Rs.248 crore in Q1FY25, a 19% YoY rise. Along with this, its operational revenue has risen 32% to Rs. 2,102 crore from Rs.1,596 crore from the same quarter last year, a 32% YoY rise. The company’s EBITDA has risen to Rs.637 crore from Rs.496 crore from the same quarter last year, a 29% rise. “Q1 FY2026 marks the thirteenth consecutive quarter of record performance. In line with our guidance, the company reported a double-digit growth in consolidated revenue. The hotel segment’s revenue…
Mumbai: Adani Enterprises Ltd (AEL) has signed an agreement with its Singapore-based Joint Venture partner Wilmar International to sell 20% of its stake at Rs.275 per share. The deal, valued at Rs.7,150 crore, is the second divestment after the company sold 13.5% in Adani Wilmar for Rs.4,850 crore in January this year. Before this divestment, Adani and Wilmar held 44% each in Adani Wilmar, which has been renamed AWL Agri Business recently. Founded in 1999, Adani Wilmar is now India’s largest processor of palm oil, retailing its products under the Fortune brand. After this transaction, Adani will be left with…
New Delhi: India’s fifth-largest IT services company, Tech Mahindra, reported a 34% YoY rise in its net profit to Rs. 1.141 crore from Rs. 851 crore last year in Q1FY26. The company’s revenue growth has stagnated at 2.7% YoY to Rs.13,351 crore from Rs.13,005 crore from last year. The company’s operating profit also saw a 34% increase YoY. The Pune-based company has bagged $809 million in new deals, which the management has credited with steady execution and workforce optimization. Analysts have had a mixed review of the company’s results, with some concerned about the company’s stagnating revenue growth while others…
New Delhi: State Bank of India’s (SBI) shares are in focus today as the state-run bank’s board approved the issue of Rs.20,000 bonds that will be launched during this financial year. Aimed to support loan growth and regulatory compliance, these bonds will be Basel III compliant and issued domestically in Indian Rupees. In May this year, the bank had announced the launch of a share sale to institutional investors to raise Rs.25,000 crore at a floor price of Rs.811.05 per equity share, a 2.3% discount to the last closing price of Rs.830.5 on the NSE. This QIP, the first issued…
Indian investors have come a long way from depending solely on ‘safe’ and dependable gold and real estate to the flexibility of equities. The Mutual Fund industry has faced immense challenges over the years, from tightening SEBI restrictions to convincing spooked investors to hold their investments for better returns. The results are showing. Today, more than 30% of all capital investments are routed through Mutual Funds- all thanks to increasing awareness, relentless marketing (despite SEBI’s suffocating regulations) and a rising middle class- with investors ready to take risks with their capital for better gains than FDs. Now, India’s second largest…
