🍔Swiggy Rebrands as Instamart
Your daily dose of business news
🗞️ Borosil Renewables Eyes 60% Market Share
Borosil Renewables announced a ₹950 crore expansion to boost its solar glass capacity, targeting a dominant 60% share in the Indian market.
💬 Expert Take: “With India’s green push, Borosil’s investment aligns well with long-term demand in solar infra,” — Akhil Bansal, Independent CleanTech Analyst.
🗞️ Banks, NBFCs Agree on GST for Co-lending
Indian banks and NBFCs have come to a consensus on the GST levy for co-lending arrangements. The understanding ensures smoother collaboration and tax compliance in credit partnerships.
🗞️ Swiggy Drops Parent Tag, Becomes Instamart
Swiggy has rebranded itself fully under the Instamart brand, aiming for a sharper identity in the grocery and quick-commerce segment. The food delivery vertical remains under the Instamart umbrella.
🗞️ Ananth Narayanan Bets Big on ₹1,000 Cr Brands
Founder of Mensa Brands, Ananth Narayanan said four of his D2C brands are on track to cross ₹1,000 crore in annual revenue, highlighting robust digital retail momentum.
🗞️ LIC’s Q4 Profit Jumps 38% YoY
LIC posted a net profit of ₹19,013 crore in Q4 FY24, up 38% YoY. The insurer also declared a ₹12/share final dividend, bolstering PSU earnings sentiment.
💬 Expert Take: “LIC’s robust profit reinforces the insurance sector’s value as a long-term play amid market volatility,” — Mitali Patnaik, Fund Manager, SBI MF.
🗞️ Salesforce Nears $8B Informatica Deal
Salesforce is reportedly close to acquiring data management firm Informatica for ~$8 billion, marking a major push into enterprise data services.
🗞️ Bengaluru Becomes Hotbed for AI Talent
According to Business Standard, Bengaluru is now a global AI talent hub, attracting global firms with its dense concentration of AI engineers and startup innovation.
🗞️ NMDC Q4 Profit Rises 5% YoY
NMDC reported a Q4 net profit of ₹1,483 crore, up 5% YoY. Revenue increased 8% to ₹5,969 crore, and a final dividend was announced.
📊 Market Updates :
📉 Sensex: 81,551.63 ▼ -625.00 (-0.76%)
📉 Nifty 50: 24,826.20 ▼ -174.95 (-0.70%)
💵 USD/INR: ₹85.37 ▲ +0.27 (+0.32%)
🛢️ Brent Crude: $64.31 ▲ +0.17 (+0.27%)
🪙 Bitcoin: $108,962 ▼ -0.65%
🥇 Gold (24K): ₹9,813/gram ▲ +₹10