Food Financial News

consumer goods maker Dabur said in a third quarter update on Thursday that it expects consolidated revenue to register mid to high single-digit growth, a slight improvement over the July-September quarter. The maker of Real juice, Hommade condiments and chyawanprash noted in a filing to the stock exchanges that its foods and beverages segment would lead growth in the quarter, usually the best performer in the October-December quarter due to the festive season and its juices portfolio. Dabur said the third quarter has been better than expectations, also driven by its acquired Badshah masala franchise and its international business. The company, which derives almost half of its annual sales from rural India, however, noted that demand in the hinterland continues to be a concern for the company. Rural demand has continued to lag behind urban demand, though the gap has reduced in the last quarter.

Dabur's consolidated revenue is expected to register mid-to-high single-digit growth during Q3FY24.

By Piotr Lipinski

household spending, there has been an increase for 58% of families, with consumption remaining the same for 35% of families. The net score remains steady at +50, the same as last month, according to the latest report on the India Consumer Sentiment Index (CSI) by Axis My India. Spending on essentials such as personal care and household items has risen for 48% of families, with consumption remaining unchanged for 39% of families.

AI) taking centre stage in all industries, ITC is focusing on technology to revolutionse its dairy and beverages supply chain in several ways. Sanjay Singal, COO, Dairy & Beverages, ITC Foods, says digital technologies, including AI-powered sensors and machine learning algorithms, can help monitor and maintain product quality throughout the production process.

Jitendra Awhad, a leader from the Nationalist Congress Party- Sharad Pawar faction, has made controversial statements regarding Lord Ram. Awhad claimed that Lord Ram belonged to the Bahujans and was a non-vegetarian. This statement comes after BJP MLA Ram Kadam urged the Maharashtra government to enforce a one-day ban on alcohol and meat on January 22, the day of the Ayodhya consecration ceremony. During an event in Maharashtra's Shirdi, Awhad stated, «Ram is ours.

Dabur India and ITC in the December quarter will be seen as a proxy for the broader consumer sentiment in India. Analysts said companies expect the upcoming general elections and a further reduction in inflation to shore up demand in FY25.

State Bank of India: India’s largest lender State Bank of India (SBI) is looking to tap the US bond markets to raise $500-750 million. SBI is planning to raise funds through Regulation S bonds, and the roadshows could begin as early as next week. Bank officials have held discussions with about six bond arrangers.

After-Hours Stock Movers:

Federal Reserve Bank of Richmond President Thomas Barkin said a soft landing for the US economy is looking more likely but hardly certain, noting he’d need more conviction about the path of inflation before supporting a rate cut. “A soft landing is increasingly conceivable but in no way inevitable," Barkin, who will vote on policy decisions this year, said in a speech Wednesday.

(Reuters) — Federal Reserve officials project the U.S. central bank will cut its benchmark overnight interest rate during 2024, but the timing and pace of the reductions in borrowing costs will depend heavily on upcoming inflation and jobs data.

ANI as saying. It added that the airline “will be responding to the notice, as per protocol". The show cause notice was issued to IndiGo over a complaint by a Delhi-based dietician.

Captain Fresh raised Rs 110 crore in a funding round from Andhra Pradesh-based Nekkanti Sea Foods and financial and investment firm Shakti Finvest. The funding was done through an issue of 1,102 convertible preference shares at a price of over Rs 9 lakh each, the firm said in a filing with the Registrar of Companies.

AU Small Finance Bank has officially unveiled its collaboration with Mastercard, heralding the introduction of the Mastercard Debit Card. This innovative offering is tailor-made for the bank’s Corporate Salary customers and is rolled out with the overarching theme of #Swipe&Save. The recently launched Mastercard Debit Card caters to the lifestyle requirements of the contemporary Corporate Salary class by presenting exclusive deals across various prominent categories.

earthquake in western Japan that killed at least 65, while evacuees continued to wait for further aid amid freezing temperatures and heavy rain. The quake with a preliminary magnitude of 7.6 struck the Noto peninsula on New Year's Day, levelling houses and cutting off remote areas from aid.

Wheat production is expected to touch a new record of 114 million tonnes in the ongoing 2023-34 crop year on higher coverage and provided weather conditions remain normal, a top food ministry official said on Wednesday. The last leg of sowing of wheat, the main rabi (winter) crop, is underway and will continue till next week. Till last week, wheat was planted in 320.54 lakh hectares, as per the official data.

By Ankika Biswas

In a decision that may shape the future of artificial intelligence (AI) and patent law, the UK Supreme Court has ruled against Dr. Stephen Thaler in a landmark case concerning the role of AI in inventing. Dr. Thaler, who created the AI system DABUS (Device for the Autonomous Bootstrapping of Unified Sentience), sought to have DABUS recognized as the inventor of two patents — a food container and a light beacon​​​​.

Grocery price inflation during the period was still double digits at 11%, and take-home grocery sales rose by 9.1%.

José Luis Garcia is a coffee-lover and entrepreneur trying to make his mark in the city of Medellín — the birthplace of Colombia’s modern coffee industry.

Food delivery service platform DoorDash is integrating AI technology for their restaurant clients, which will see customers communicating their food orders to AI-powered bots instead of busy in-house staff.