Delhi-based manufacturer Vikas Ecotech has acquired an existing Plasticizer Manufacturing Business, valued at Rs 270 million, in an all-cash deal. With this acquisition, the company aims to enhance its product offering and become debt-free by 2023-24. This move comes after the firm recently paid off Rs 101 crore of its debt to lenders.
In a shocking incident, a brand-new Mahindra Thar crashed through a glass wall and landed on the road below in Delhi's Preet Vihar. The SUV had just been purchased by a couple who were inside the vehicle at the time with a showroom salesman. Fortunately, no one was seriously injured in the accident. The incident, captured on video, has gone viral on social media. Police are investigating the cause of the incident.
The Indian Express has obtained information that the Registrar General of India has requested a budget of Rs 14,618.95 crore for the upcoming Census 2027. This will be the first "digital census" and will include the collection of caste data through dedicated mobile applications. The option for self-enumeration will also be provided to the public. Additionally, Indian refiners have saved approximately $12.6 billion in the past three years through their Russian oil imports, which has caused tensions with the Trump administration.
The Trump administration's latest move has caused major disruptions in the Indian export industry with the imposition of 50% tariffs on Indian goods. Sectors such as apparel, textiles, gems, and jewelry will bear the brunt of the higher tariffs, putting low-skilled jobs in India at risk. India's response has been to extend tariff exemptions on cotton imports, but many are criticizing the government for not taking strong action against the US. Political figures like Saurabh Bhardwaj and Akhilesh Yadav have slammed the BJP-led government for its failed foreign and economic policies which are negatively impacting traders, manufacturers, and workers.
The highly anticipated 2025 model of the popular Suzuki Access 125 has finally been unveiled at the Auto Expo. While it comes in three variants and boasts 5 different colour options, there are complaints about the fluctuating mileage and poor design choices such as fixed mirrors. With tough competition in the two-wheeler market, Suzuki may need to offer attractive deals to customers to stay ahead.
At the Plumbex India exhibition, Minister Hardeep S Puri launched the BHARAT TAP initiative, which aims to improve products and services related to plumbing, water, and sanitation. In his speech, Puri emphasized the importance of sanitation in India's development and praised the success of the Swachh Bharat Mission and AMRUT in achieving 100% toilet coverage in rural areas and significant progress in urban areas. He also announced the launch of AMRUT 2.0, with an outlay of Rs. 2,77,000 crores, to further strengthen water and sanitation services in cities.
Swiggy's stock surges by 5% on NSE as the food delivery company initiates 'Quick India Movement' sale from 19th to 28th September, offering huge discounts on a wide range of products. Global brokerage firm Nomura has set a 'Buy' rating for Swiggy's stock with a target price of Rs 550, citing steady profitability and potential for growth in the quick commerce vertical. However, it also cautions about the possibility of a macro slowdown affecting the growth of Swiggy's online food delivery business.
Rajasthan Patrika, a Hindi newspaper, is celebrating its fifth foundation day in Bhopal with a series of activities. The newspaper, which entered Madhya Pradesh in 2008, now has nine editions in the state and plans to add two more. The celebration activities include a religious gathering with gurus from various religions, blood donation camps, and a new look for the office building.
In a much-needed boost for the Indian food delivery company, Nomura has initiated coverage on Swiggy with a 'buy' rating and a target price of ₹550. The brokerage's analysis highlights the company's strong funding position and its improving profitability in both food delivery and quick commerce. With the recent trend of investors focusing on path to profitability, Nomura's upbeat call on Swiggy is expected to lift its stock and pave the way for further growth. Additionally, the brokerage has also retained its 'buy' rating on Eterna with a revised target price of ₹370, citing expected margin gains from its inventory-led quick commerce model.
Analysts believe that the recent imposition of 18% GST on delivery charges for food delivery platforms Swiggy and Eternal will have a marginal impact on their finances. Both companies are considering passing on the extra tax burden to customers, a common trend in the industry. However, brokerage firm JM Financial believes that the majority of food delivery orders have waived delivery charges and any additional tax expenses will not significantly affect the companies' profits.