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tomato prices skyrocket, online grocery delivery firm BigBasket has a suggestion. «Tomato Prices Running High? Cook with Tomato Puree instead! Made with 100% ripe tomatoes,» the company urged on its mobile application. Online grocery delivery firms such as BigBasket, Zepto and Blinkit, along with several offline retailers, are witnessing a surge in demand for tomato puree and frozen vegetables as the prices of fresh produce hit the roof. Demand is so high that retailers are running out of stock and manufacturers are ramping up production. Fresh tomato prices were ruling at Rs 112 per kg in the retail market in Delhi, up from Rs 28 per kg about a month ago. A 200 ml container of puree, equivalent to using about 450 gm of tomatoes, costs Rs 27. A spokesperson for Dabur said that demand for tomato puree brand Hommade has surged and that it's working hard to keep up with it. Mother Dairy, one of the largest players in the puree and frozen vegetables segment, has seen a 300% increase in the demand for tomato puree and 50% increase in that for frozen vegetables at its stores in the last two weeks. «Production has been ramped up for our tomato puree to take care of the surge in demand,» said a spokesperson for Mother Dairy Fruit & Vegetable, which owns the Safal brand of purees and frozen vegetables.

Investing.com — The Dow closed higher Thursday as a surge in Google underpinned a sea of green in tech just as investors digested better-than-expected quarterly results from Pepsico and Delta, a day ahead of results from major Wall Street banks.

By Wayne Cole

electronics manufacturing hub. Given that level of ambition, we need to be prepared for setbacks — such as the news this week that Taiwan-based Foxconn would not, in the end, build a semiconductor factory in the western Indian state of Gujarat. This was a huge disappointment.

Government bonds and the rupee notched up firm gains Thursday as a lower-than-expected US inflation print lowered the odds of an imminent end to the cycle of rate increases that began late winter last year in the world's biggest economy. The dollar index that maps the movement of the US currency against other monetary units declined, burnishing the allure of emerging-market assets. The rupee and Indian bonds rallied despite a higher-than-expected local inflation reading, potentially lengthening the odds the Reserve Bank of India (RBI) will ease rates soon.

Foxconn is in talks with Taiwan Semiconductor Manufacturing Co (TSMC) and Japan’s TMH Group for technology and joint venture partnerships to start semiconductor fabrication units in India, said people with knowledge of the development. Foxconn and TSMC are both based in Taiwan. Foxconn, which ended its joint venture to make chips with India’s Vedanta Group earlier this week, has been talking to the two companies for some time now.

Wipro on Thursday reported quarter-on-quarter fall in its net profit and revenue for the first quarter ended June amidst weak performances by key verticals like financial services and communications with clients postponing discretionary spending in the short term. India’s fourth-largest software company expects revenue in the ongoing fiscal quarter to be between a sequential fall of 2% and a growth of 1% in constant currency, or without forex fluctuations. For the April-June quarter, Wipro’s net profit stood at Rs 2,870 crore, up 12% compared with Rs 2,564 crore a year earlier, but down 6.7% sequentially.

C Vijayakumar, CEO and managing director of HCLTech, said after the $12.6-billion company missed profit and revenue estimates for the first quarter of 2023-24 due to weakness in ER&D and telecom spends. Yet, India’s third largest software company has maintained its revenue growth guidance of 6-8% and 18-19% operation margin for the fiscal year. The company is confident about converting its existing deals pipeline into strong revenue growth over the next few quarters and sees an increasing number of cost optimisation opportunities balancing out the lack of discretionary projects in the market, Vijayakumar told ET’s Romita Majumdar, Sai Ishwarbharath andSurabhi Agarwal in an interview.

recruitment scandal at India’s largest software exporter Tata Consultancy Services (TCS) was a one-off code of conduct violation and not a “systemic failure,” said CEO and MD K Krithivasan, 58, adding that the incident was swiftly dealt with and has had no impact on relationships with clients. The $27.92 billion Indian IT company expects the demand environment to be muted. Customers are reassessing technology spends and postponing non-critical engagements, he told Romita Majumdar and Surabhi Agarwal in an interview.

Planning for retirement and saving for college are increasingly becoming competing priorities — and many parents are staying in the workforce longer because of it.

pension scheme for unorganised workers, Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM), saw the exit of about 21% subscribers in less than six months, raising questions on the viability of the scheme. The total number of subscribers under the scheme fell to 4.43 million on July 11, down 1.19 million from an all-time high of 5.62 million on January 31, as per government data.

NEW DELHI : The government may propose reducing goods and services tax (GST) on ghee and butter to 5% from the current 12%, according to government documents reviewed by Mint. The plan comes as retail milk prices have risen by 10.1% in a year and 21.9% over the past three years due to higher feed and fodder costs for cattle. The animal husbandry and dairying department has requested the finance ministry to include the proposal in the GST fitment committee, which will then be presented to the GST Council, the federal indirect tax body, for consideration.

New Delhi: India and the US are working together to ensure that there is not disruption in the global clean energy supply chain, said Bhupinder Singh Bhalla, secretary, union ministry of petroleum and natural gas. Addressing the US-India Energy Summit: ‘Partnering for a Sustainable Future’, the official noted that the recently announced US-India New and emerging renewable energy technologies action platform would help in reducing the cost of green hydrogen production as per the respective green hydrogen strategies of both the countries.

Investing.com — The S&P 500 extended its rally Thursday, underpinned by better-than-expected quarterly earnings and a Google-led surge in tech after the search-engine giant launched its Chat-GPT rival, Baird, in Europe and Brazil.

BMO Capital upgraded Pilgrim's Pride (NASDAQ:PPC) to Outperform from Market Perform with a price target of $28.00, reflecting the view that a greater set of potential catalysts has shifted risk/reward more favorably. Shares jumped more than 9% intra-day today.

The cost of living has surged ahead as Australians’ top worry and, although they still want the federal government to take action on climate change, worries about power prices and energy reliability are on the rise, according to a new report.

Dheeraj Wadhawan, promoter of now non-existent Dewan Housing Finance Ltd (DHFL), who has been arrested in a case pertaining to alleged fraud at Yes Bank. Special CBI court Judge M G Deshpande rejected Dheeraj Wadhawan's medical bail plea, but allowed him to undergo treatment at a private hospital for a heart-related ailment.

₹3454.98 crore, surpassing ICICI Bank and Reliance Industries Ltd. On a day of high market volatility, with the Nifty fluctuating 181 points, the HDFC Bank stock ended 0.5% higher at ₹1641.10 apiece. So far in 2023, the HDFC Bank stock underperformed its peers and the 12- member Bank Nifty index, but analysts said it is likely to narrow the gap following its earnings call with investors as well as analysts.

A small broker-dealer based in Scottsdale, Arizona, that sold bonds issued by the bankrupt GWG Holdings Inc. is closing down.

A new AI photo app is triggering baby fever among a population better known for delaying parenthood plans. The app is Remini. It dethroned Meta Platforms’ new Twitter competitor, Threads, to become the most popular free-to-download app in Apple’s App Store.

Mumbai/New Delhi: High employee expenses have prompted information technology (IT) companies to defer onboarding and promotions to initiate strict cost control measures. A weak deal pipeline and poor visibility for the next couple of quarters has compelled Tata Consultancy Services (TCS), HCL Technologies and Wipro to set minimal hiring targets. A Mint analysis found that in the first quarter of the financial year, wage costs as a share of revenue increased for all three companies to a record high in the last at least five years.