BUSINESS
Value-first Indians to take eGrocery market to $24bn by 2025
The ‘value-first' eGrocery segment is projected to grow at 53 per cent CAGR over the next five years, even faster than the eGrocery market which itself is forecast to grow at 48 per cent CAGR, according to the report by homegrown consulting firm RedSeer.
IndiGo's sequential Q3FY21 net loss narrows to Rs 620 cr
Accordingly, InterGlobe Aviation, which runs the airline, reported a quarterly net loss of Rs 620.1 crore from a net loss of Rs 1,194.8 crore posted during the second quarter of 2020-21. The airline had reported a net profit of Rs 496 crore during the Q3FY20. Besides, the company said the capacity for the quarter was down by 40.8 per cent compared to the same period last year.
Chinese brands commanded 75% of India’s smartphone market in 2020: Report
The excellent growth registered by Chinese brands comes even as the armies of India and China continue to face military standoff along Line of Actual Control (LAC) in Ladakh. According to the report, Chinese smartphone brands saw a growth of 4% and the share is at 75% which is higher than 71% in 2019.
'Feel very good about trajectory in India': Apple CEO Tim Cook on company's 100% growth in December 2020 quarter
Cook pointed out that Apple's business doubled in India and added that the management feels very good about the trajectory. However, he also acknowledged that the company's share is quite low in India. The company has recorded a record revenue of $111.4 billion which is higher by 21% on a year-over-year basis. The new iPhone 12 and iPads have significantly helped in raising the numbers.
Apple rules festive quarter as global shipments grow in Q4: IDC
Apple delivered a phenomenal performance in the December quarter, returning to the top position with 90.1 million devices shipped, driven by the success of the iPhone 12 series, according to preliminary data from the IDC's ‘Worldwide Quarterly Mobile Phone Tracker'.
Maruti Suzuki's Q3FY21 net profit rises over 24%
According to the automobile manufacturer, the net profit during the quarter under review rose to Rs 1,941.4 crore from Rs 1,564.8 crore during the corresponding period of previous fiscal. Besides, the company sold a total of 495,897 vehicles during the quarter, higher by 13.4 per cent compared to the same period previous year.
'Electricity generation likely to improve on higher demand'
The ratings agency cited the continued improvement in all-India energy demand during the first 15 days of January 2021, with a 2.4 per cent yoy increase to 52 billion units. In December 2020, the all-India energy demand increased 4.9 per cent YoY to 106.5 billion units, backed by a strong demand from the northern and western region.
Gold demand drops to 11-year-low in 2020 on weak Q4
The decline in annual demand is largely attributed to the 28 per cent year-on-year (YoY) fall to 783.4 tonne in the fourth quarter of 2020, making it the weakest quarter since the midst of the global financial crisis in Q2, 2008. Gold jewellery demand in Q4 fell 13 per cent Y-o-Y to 515.9 tonne, resulting in a full-year total of 1,411.6 tonne, 34 per cent lower than in 2019 and a new annual low for WGC's data series, said its statement.
Jio named 5th strongest brand globally in Brand Finance rankings
The annual report on the most valuable and strongest brands in the world noted that despite being the latest entrant in India's telecom scenario, Jio has quickly become the largest mobile network operator in India and the third-largest mobile network operator in the world, with almost 400 million subscribers.
Health insurers seek higher tax deductions, lower GST on policies
In a set of recommendations involving tax treatment for health insurance policies, the industry had urged the government to immediately increase the 80 D tax deduction benefit for individuals on their premium payment for health insurance policies.
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