Emami bets on new-age brands for 25% of FY30 sales
Emami anticipates strategic investments will significantly boost its consolidated turnover. New-age brands and digital capabilities are central to this growth strategy. The company aims for these investments to contribute twenty-five percent by fiscal year thirty. Digital channels and new-age brands already show substantial growth in domestic revenue. Emami remains optimistic about India’s growth prospects and rural demand recovery.
IndiGo’s managing director defended its large market share, citing unique routes and global competition needs. He explained that 34% of capacity serves markets where no other airline operates. IndiGo’s market dominance is attributed to its business plan and rivals’ inability to compete. The airline has implemented operational improvements after recent disruptions and cancellations. Future industry expansion is expected to significantly rationalize IndiGo’s market share.
FinMin launches Protection & Indemnity Insurance product under Bharat Maritime Insurance Pool
India’s Department of Financial Services launched a new sovereign-backed P&I insurance product. This product is designed by New India Assurance Company under the Bharat Maritime Insurance Pool. The insurance offers financial protection against third-party liabilities up to USD 1.5 billion. The Bharat Maritime Insurance Pool has already provided uninterrupted war risk insurance capacity. This initiative strengthens India’s maritime risk management and domestic insurance capabilities.
Innov8 founder Ritesh Malik buys Golf Links bungalow for Rs 85 crore
Ritesh Malik, Innov8 founder, purchased a bungalow in Delhi’s Golf Links for Rs 85 crore. This transaction marks a trend of corporate leaders acquiring upscale properties in the area. India Sotheby’s International Realty facilitated this high-value residential deal for both parties. Golf Links has become a preferred destination for entrepreneurs seeking prime locations. Several other prominent figures have also bought properties in this exclusive Delhi neighborhood.
India’s food regulator FSSAI has restricted Vatave Healthcare from selling its Folineuro syrup. The company made misleading claims about improving brain function with its product. Global Healthfit Retail also faces restrictions on its Neuherbs True Vitamin product. This action was taken due to a misleading trade name used for the supplement. Both companies must cease sales and report corrective actions taken.
TATA Starbucks plans significant expansion across Indian metropolitan and emerging cities. The company recently opened its first South India Reserve store, increasing the total to six. This expansion reflects India’s status as a fast-growing global market for Starbucks. TATA Starbucks now operates over 500 stores nationwide, employing approximately 4,300 people.
RBI gives banks more time to implement bulk deposit rate norms, deadline now Oct 1
Banks now have until October 1 to implement new differential interest rate rules. These norms allow varied rates on bulk deposits considering liquidity coverage ratios. The Reserve Bank of India has extended the implementation deadline after bank feedback. Rates for deposits under Rs 3 crore remain outside these new stipulations. Banks must now disclose bulk deposit rates online by 10:00 am daily.