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Better Nutrition has successfully secured ₹10 crore in funding aimed at expanding its range of biofortified food products. This investment will support the company's mission to enhance nutritional offerings and promote healthier food options in the market.
Shares of Multi Commodity Exchange (MCX) rebounded by 2-3% after an initial drop, driven by Morgan Stanley's note on potential regulatory approval for weekly options, despite maintaining an 'Underweight' stance with a target of Rs 3,400. UBS, on the other hand, reiterated a 'Buy' rating but lowered its price target to Rs 7,250, anticipating a slight decline in Q4FY25 revenue due to weaker trading volumes, though expecting recovery in subsequent quarters.
Pedro Sousa Cardoso has stepped down as Chief Digital Officer of Emirates NBD after three and a half years, during which he spearheaded the bank's digital transformation and implemented an agile operating model. His leadership enhanced digital initiatives across the organization, including Emirates Islamic and Liv Digital Bank, and he expressed pride in the accomplishments achieved. Sousa Cardoso looks forward to remaining active in the digital and financial sectors as Emirates NBD continues its digital development journey.
Shares of Tata Consumer Products surged over 8% after Goldman Sachs upgraded the stock to 'Buy' and raised its target price to ₹1,200, citing strong earnings growth potential driven by tea margin recovery and ongoing innovation. Despite a flat net profit of ₹279 crore in Q3 FY25, revenue rose 17% to ₹4,444 crore, indicating resilience amid competitive pressures. The stock remains 14% below its 52-week high but has gained over 21% from its low in December 2024, reflecting renewed investor interest.
Shares of Tata Consumer Products surged 4.8% to 1,039.85 rupees following an upgrade by Goldman Sachs to "buy" from "neutral," with a price target raised to 1,200 rupees. The brokerage anticipates strong earnings growth from fiscal year 2026, driven by recovering tea margins and price hikes, while also increasing EPS estimates for FY2026/2027 by 3% and 7%. With an average rating of "buy," Goldman Sachs' target suggests a potential upside of about 20% from the stock's last close.
Spinny, the Gurugram-based used car platform, has secured $131 million in funding led by Accel Leaders Fund, valuing the company at approximately $1.5 billion. The investment includes $110 million in primary funding and $21 million for secondary purposes, with significant contributions from Elevation, Tiger Global, and other investors. Spinny, which sells around 7,000 cars monthly, reported a revenue increase to Rs 3,725.02 crore for the fiscal year ending March 2024, while its losses decreased by 28% to Rs 590.37 crore.
Swiggy has received an assessment order from the Income Tax Department for outstanding dues of 158.25 crore rupees (US$18.5 million), related to unpaid taxes on cancellation charges and interest income on tax refunds. The company plans to challenge this order, asserting it will not significantly affect its financials or operations. Additionally, Swiggy intends to appeal a previous notice for 1.1 crore rupees (US$128,500) concerning similar issues from the fiscal years 2018 and 2019.
Spinny, a used-car marketplace backed by Tiger Global, has raised $131 million in funding, valuing the company at $1.7 billion to $1.8 billion. The investment round, led by Accel Leaders Fund and including Nandan Nilekani’s Fundamentum, aims to expand Spinny's non-banking financial services. The company reported a 28% reduction in net loss to $69.03 million for FY24, with a 14.2% revenue growth to $435.86 million.
Swiggy has received a demand notice from the Income Tax Department for INR 158 crore. This development highlights ongoing scrutiny of the financial practices of major companies in the food delivery sector. The implications of this notice could impact Swiggy's operations and financial standing.
Elon Musk tops Forbes' 2025 Billionaire's List with a net worth of $342 billion, followed by Mark Zuckerberg at $216 billion and Jeff Bezos at $215 billion. The list features 3,028 billionaires worth a combined $16.1 trillion, with the majority residing in the United States.
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Better Nutrition raises 10 crore funding to enhance biofortified food products
12:31 02.04.2025
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09:36 02.04.2025
pedro sousa cardoso resigns as chief digital officer of emirates nbd
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