Food Financial News

Zomato shares experienced a notable surge of 6 percent during morning trading on February 12, reaching a fresh 52-week pinnacle of ₹158.80 on the National Stock Exchange (NSE). This surge propelled the stock closer to its record peak of ₹169, attained on November 16, 2021. The upswing follows Zomato's impressive financial performance, with the Gurugram-based food aggregator reporting a consolidated net profit of ₹138 crore for Q3FY24, a significant turnaround from the net loss of ₹347 crore in the corresponding period of the previous fiscal year.

Parag Milk Foods Ltd.(up 7.23%), Varun Beverages Ltd.(up 1.42%), Honasa Consumer Ltd.(up 1.25%), Marico Ltd.(up 0.88%), Hindustan Foods Ltd.(up 0.62%), Nestle India Ltd.(up 0.37%) and Jyothy Labs Ltd.(up 0.04%) stood among the top gainers.

Sanjiv Puri, CMD, ITC, says the Indian economy and even rural India has been very resilient. The infrastructure that has been created, the connectivity, focus on housing and digitisation, the direct benefit transfer and stuff like free food grain distribution are some of the very important steps taken in terms of the investment in the rural economy and that is why it is quite resilient. Puri further says: “We have a core portfolio which, given the growing consumption in India and the opportunity for penetration, the opportunity for per capita consumption is huge, we are saying that we need to scale that up, use that to address adjacencies and also build categories of the future. Some of them start scaling them, some of them incubate them.” Do you think India can sustain 7% growth? Sanjiv Puri: Yes, this is eminently possible. That is the kind of number we should be aiming for at the minimum. You see, growing at 7% which is what is the estimate for the year and beyond this year, at a time when the whole world is struggling, when the global growth is the least in a long period, global trade is significantly lower than what it used to be at that time itself, we are growing at 7%.

Zomato actually has several other revenue streams and significant ‘other Income’. While the company has done well to tighten operations to improve margins, revenue growth–more orders, more users–depends on consumption. Excellent third-quarter results with high growth confirm anecdotal evidence about a consumption rebound in certain segments of the economy.

Zomato shares extended their gains to 10% in two sessions and hit a fresh 52-week high of Rs 156.70 on the NSE on Monday on the back of strong December quarter earnings that were much higher than the Street's estimates. Strong investors' interest in the multibagger stock followed in yet another session with more than 5.61 crore shares changing hands on the NSE around 10:20 am. The stock is currently trading above its 50-day and 200-day simple moving averages (SMA's) and the two-day rally has further dragged the stock into the overbought zone. Day's MFI according to Trendlyne stands around 81. Meanwhile, RSI is hovering near the 70 mark. A number above 70 is considered as overbought.

Zomato last week indicated restaurant additions on its platform as a significant contributor to the 27% year-on-year growth in the gross order value (GOV) at its food-delivery business, considering that the company is witnessing a broader slowdown in discretionary spending. A look at Zomato's total number of food-delivery restaurant partners over the last eight quarters shows that the Gurugram-based company has stepped up onboarding of new restaurants on the platform.

Amazon Seller Services, the entity that runs the Amazon marketplace in India, said its US parent infused Rs 830 crore into the company. Amazon Seller Services said it allotted 830 million equity shares to Amazon Corporate Holdings Ltd and Amazon.com.inc as part of the fund infusion.

premature births are probably linked to plastics that cover foods, as per a CNN report. Artificial substances known as phthalates, commonly utilized in transparent food packaging and various personal care items, as per the report. Research indicates that the primary link to premature labor is attributed to a specific phthalate present in food packaging known as Di(2-ethylhexyl) phthalate, or DEHP. In this recent investigation, scientists identified DEHP and three analogous compounds as potential contributors to approximately 5 per cent to 10 per cent of all premature deliveries in 2018. This discovery sheds light on a possible factor contributing to the increasing incidence of premature births, CNN reported quoting researchers.

NEW DELHI : A large number of Union ministries had utilised only about two-thirds of their revised budgetary allocations for 2023-24 in the first nine months of the financial year. The actual total expenditure between April and December was ₹30.41 trillion, against the revised allocation of ₹44.90 trillion for 56 ministries, the Union finance ministry said in a statement on ministry-wise utilisation of the Budget allocation for FY24. The statement was a part of the government’s response to questions at the Rajya Sabha last week.

Ginger Hotels will lead the growth of new businesses of Indian Hotel Company (IHCL) as the value brand embarks on an aggressive expansion plan that includes having a presence in all the 800-odd district headquarters in the country, a top executive said. TajSATS, its airline catering business, too, is expected to grow significantly to help the share of new businesses in IHCL’s top line more than double to 25% by 2025-26 from 11% in the December quarter, said Deepika Rao, executive vice president for new businesses and hotel openings at IHCL. “These two will lead the growth momentum both in terms of revenue and profitability,” she told ET.

As the Super Bowl approaches, there could be problems for guacamole, a favorite game-time food in America

Tradeoffs between strong growth and a healthy environment are not dominating the headlines in the runup to the Feb. 14 presidential election in Indonesia, the world's third-largest democracy

Actor Scarlett Johansson and NFL legend Dan Marino come from different professions, but they have two things in common: Both have a sweet tooth and an infatuation with M&Ms. Johansson and Marino will star in the Super Bowl commercial that will focus on...

Goa, Delhi’s favourite holiday destination, with criminals using a north Indian restaurant as cover, seems perfect for the portly private eye. Delhi Police’s Economic Offences Wing, which carried out this real-life operation last August, must have had no problem getting volunteers. All they knew was that the targets, a couple accused of embezzling more than Rs 4 crore, had taken cover running a restaurant in North Goa with ‘Rasoi’ in its name. So, to apprehend the criminals, the team booked into a hotel and ordered from every restaurant with Rasoi in its name. We’re told that the orders were lavish — shahi paneer and naan are mentioned, but there must have been much more — presumably to ensure the restaurant delivered directly, rather than through a delivery app. They then followed the delivery guy back and finally, on the fifth order, hit gold at a restaurant named Aunty ki Rasoi.

development projects worth ₹7,300 crores. In an official statement, the Prime Minister's Office (PMO) said, “PM Modi will dedicate and lay the foundation stone of multiple initiatives that will benefit the significant tribal population of the region." “He will disburse monthly installments of Aahar Anudan under Aahar Anudan Yojna to about two lakh women beneficiaries.

₹5 crore to the RTDC for operating the Palace of Wheels, along with a share of 18% of the total turnover, the report mentioned. The officials of Palace of Wheels told the English daily that the train has traditionally been serving non-vegetarian food and alcoholic beverages to cater to both foreign and domestic tourists.

Madhya Pradesh on Sunday afternoon where he will inaugurate and lay the foundation stone for multiple development projects worth about Rs 7,300 crores. According to the Prime Minister's Office (PMO), around 12:40 pm, he will dedicate to the nation and lay the foundation stone of multiple development projects in Jhabua, Madhya Pradesh. «Prime Minister will dedicate and lay the foundation stone of multiple initiatives that will benefit the significant tribal population of the region. Prime Minister will disburse monthly instalments of Aahar Anudan under Aahar Anudan Yojna to about two lakh women beneficiaries. Under this scheme, Rs 1,500 per month is provided for nutritious food to women of various especially backward tribes of Madhya Pradesh,» the PMO said in a statement.

east Delhi when locals and commuters complained of eye irritation and suffocation on Saturday evening, officials said. Calls were made to the fire department about a "gas leak", but officials could not confirm finding any suspicious gas. Delhi Police said anti-riots mock drill exercise was conducted at Yamuna Khadar, which falls between some parts of east and north Delhi. An officer said it appeared that the smoke due to tear gas shell might have been behind the incident, but added that it was not yet verified.

BSE Sensex logging a marginal weekly decline. However, the broader S&P BSE Smallcap index hit its fresh record high last week at 46,821.39, driven by gains in stocks such as Olectra Greentech, Balaji Telefilms, Jaiprakash Power in the last five days.

The American pork industry has a problem: It makes more tenderloin, ham, sausage and bacon than anybody wants to eat. From giant processors to the farmers who supply them, they are in a predicament largely of their own making. They made production so efficient that demand can’t keep up with supply.

As elevated valuations cap the upside in the broader market, smallcap rally was subdued but steady with 52 stocks gaining in double digits during the week. Mid and smallcaps had witnessed strong rallies over the past few months thus making valuations a little stretched.