Food Financial News

Future Consumer Ltd.(up 5.56%), Heritage Foods Ltd.(up 3.08%), Dangee Dums Ltd.(up 1.83%), Procter & Gamble Hygiene & Healthcare Ltd.(up 1.68%), Tasty Bite Eatables Ltd.(up 1.50%), Honasa Consumer Ltd.(up 0.74%), Gillette India Ltd.(up 0.71%), ADF Foods Ltd.(up 0.59%), LT Foods Ltd.(up 0.52%) and Jyothy Labs Ltd.(up 0.26%) stood among the top gainers.

₹7,560 per day in 11 months of the financial year 2024 (11MFY24). The exit room rate for February 2024 at ₹8,900 per day (up 7 per cent YoY) scaled a new peak, with occupancy at 73 per cent, implying a revenue per available room (RevPAR) of ₹6,500 per day (up 10 per cent YoY). "The strength in ARRs gives us improved visibility for FY25E, leading to an upward revision of 2-5 per cent in ARRs across coverage companies, implying up to a 6 per cent revision in FY25E EBITDA," Kotak said.

Jhandewalas Foods has given multifold returns to its investors in the last 1 year. The stock has skyrocketed over 1,932 percent in this period to currently trade at ₹139.31. Meanwhile, in 2024 year-to-date (YTD), the stock has also given multibagger returns, rallying 310 percent.

FSSAI) on Thursday took cognisance of Nestle's Cerelac sugar case, reported ET NOW citing sources. The regulator said that if found guilty, strict actions will be taken against the brand. A committee will be examining the matter, said FSSAI, as per ET NOW sources. Nestle sugar controversy Nestle adds sugar to infant milk sold in less affluent nations including India but not in its primary markets like Europe or the UK, reported ToI. The revelation came to light when «Public Eye,» a Swiss investigative organization, and IBFAN (International Baby Food Action Network) dispatched samples of the company's baby food items marketed in Asia, Africa, and Latin America to a Belgian laboratory for examination.

Nestlé hit headlines this week for the sugar content in its baby food sold in developing countries. Nestlé India was found to have included sugar and honey in infant milk and cereal products such as Cerelac, as per a Guardian report. Responding to the concerns, Nestlé India told Mint has reduced up to 30 percent of added sugars across its infant cereal range over the past five years.

Business Today TV has reported citing a top government official. Nestlé came under the scanner for the sugar content in its baby food.

Joe Biden said on Wednesday that the US continues to urge Israel to ramp up “land, air, and sea deliveries for Gaza civilians". In a post on X, Biden said that in the “12 days following my call with Prime Minister Netanyahu, 3,000 trucks with food and supplies moved into Gaza – a daily increase of over 50% from the week prior." Biden added, “It's still not enough," saying, “We continue to urge Israel to ramp up land, air, and sea deliveries for Gaza civilians." Also Read: Iran-Israel war LIVE: 'West repelled strike on Israel, why not for Ukraine?' asks Estonia PM As reported by Reuters, the Palestinian enclave's health ministry said that Israel's military offensive in the Gaza Strip has "killed at least 33,899 Palestinians and wounded 76,664 since Oct.

Strikes called by Greece’s largest labor union have halted ferries, disrupted public transport services and left some state-run hospitals running on emergency staffing levels in Athens and elsewhere

Inflation in the U.K. fell to its lowest level in two and a half years in March after a further easing in food prices

Amazon.com said on Wednesday it plans to push its cashierless shopping technology into more third-party stores this year, even as it reduces its reliance on the technology in its own. The online retailer said about 140 stores use the system, known as «Just Walk Out,» which allows customers to scan an app to enter a store and leave with their items without paying at a register. Amazon will more than double that number this year.

The Guardian reported that the Swiss foods company adds sugar and honey to infant milk and cereal products sold in “poorer countries". It cited data from Public Eye, a Swiss investigative organization, and the International Baby Food Action Network (IBFAN) that examined Nestlé baby food brands sold in these markets. Public Eye examined 115 products sold in Nestlé’s main markets in Africa, Asia and Latin America across two key brands—Cerelac and Nodi.

UK's March inflation print underscored market uncertainty about when BoE policymakers led by Governor Andrew Bailey will be able to ease off on the highest interest rates in 16 years. However, UK inflation is still higher than the BoE's two per cent but the direction of the downtrend is clear, said analysts. While UK has lifted rate cut hopes.

Jubilant Pharma on Wednesday said the US health regulator has decided that the inspection classification of its subsidiary's Roorkee-based plant is voluntary action indicated (VAI). Jubilant Pharmova, a wholly-owned subsidiary of the company, has received a communication from the US Food and Drug Administration (USFDA) that the facility has been classified as VAI pursuant to inspection from January 25 to February 2, 2024, it said in a regulatory filing. As per the USFDA, a VAI inspection classification indicates that although investigators found and documented objectionable conditions during the inspection, FDA will not take or recommend regulatory or enforcement action because the objectionable conditions do not meet the threshold for action at this time. «Based on this inspection and the USFDA VAI classification, the facility is considered to be in acceptable state of compliance with regard to current good manufacturing practices (cGMP),» it added.

In a statement published today (17 April), the Office for National Statistics said the easing in the rate between March and February was due to prices rising by 0.6% on the month, compared to a 0.8% rise in the previous year. Core inflation, which excludes energy, food, alcohol and tobacco, fell from 4.5% in February to 4.2%. UK inflation beats expectations as it drops to 3.4% Michael Brown, senior research strategist at Pepperstone, said the figures indicate that progress is being made towards reaching the Monetary Policy Committee's 2% target, and this needs to continue to keep t...

Federal Reserve to cut rates is likely to weigh on RBI’s decision on starting its policy rate easing cycle. After Morgan Stanley and Kotak Bank, even IDFC Bank expects RBI to ease its rate easing call. Strong economic growth and escalated tensions in West Asia could add to inflation risks and delay rate cuts by the Reserve Bank of India could also weigh on the central bank's decision. Federal Reserve Chair Jerome Powell on Tuesday did not provide any guidance on when interest rates may be cut, saying instead that monetary policy needs to be restrictive for longer Economists are now factoring in a possible delay in policy rate cuts by the RBI, which has kept it unchanged since February 2023 at 6.5%. They were expecting the central bank to start lowering rates from the second half of FY' 2024-25

NBC News has reported that Prince William is scheduled to visit west London and the neighbouring county of Surrey “to highlight the work of community and environmental impact organizations in the area." Additionally, he would also visit a food redistribution charity and a youth center, media reports have stated. Earlier, CNN had reported that Prince William is expected to resume his public duties once their children have returned to school. On April 12, Prince William was seen making his first public appearance as he attended a football match between Aston Villa and Lille with son Prince George.

The world is facing its worst five-year span in three decades. Higher interest rates have left developing countries crushed by debt, and half of the poorest economies haven’t recovered to where they were before the pandemic. Growth is weak across large swathes of the world, and inflation remains persistently high.

₹70 crore from Z3Partners as part of an extended Series D round, the company said on Tuesday. In January, Wow! Momo had secured ₹410 crore in Series D funding, led by Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia, and existing investor OAKS Asset Management, at a post-money valuation of nearly ₹2,460 crore. “This investment, which marks a continuation of the last round, is a primary investment by Z3Partners, an early-growth tech and digital investor," Wow! Momo said in a statement.

₹3,773 and ₹6,459 in rural and urban areas respectively, as per the government’s recently released data on household consumption expenditure. Let us delve deeper into all the categories that lead to this gap in rural-urban consumption. First, consider ‘rent.’ Given that most families live in their own homes in rural areas, the average monthly rent spending is only ₹30.

The consumer space also saw 88 PE deals, highest in five quarters by volume. However, the consumer industry reported a decline in M&A activity with volumes declining to 14 deals from 17 a year ago although the value surged to $925 million from $79 million in 2023. «This is potentially an outcome of the impending elections leading the businesses to adopt a cautious approach, coupled with sluggishness in consumer spending, leading to slow revenue growth. However, it evidenced substantial increase in terms of deal value, primarily driven by Tata Consumer Goods' acquisition of Capital Foods valued at $615 million and Organic India valued at $229 million. Together these two deals contributed to a 91% share in M&A values, at $843 million,» said Naveen Malpani, partner and consumer industry leader, Grant Thornton Bharat.