Food Financial News

inflation despite expectations of it softening ahead. «Going forward, food inflation is likely to soften in Q4 with seasonal easing of vegetables prices and kharif harvest arrivals; and good soil moisture conditions along with comfortable reservoir levels auguring well for rabi production.

Haldiram Snack, a leading player in the packaged food industry, will invest Rs 300 crore in Bihar to set up a manufacturing unit, said a company official here on Friday. The company, which manufactures sweets, namkeen, bhujia, snacks and other food items, has signed an MoU (memorandum of understanding) with the Bihar government to make an investment of Rs 300 crore, said its Vice President Sanjay Singhania. «We are setting up a manufacturing plant for sweets, namkeens and snacks in Bihar. We will be investing Rs 300 crore,» Haldiram Snacks Pvt Ltd Vice President Sanjay Singhania told PTI on the sidelines of Bihar Business Connect 2024. The Agarwal family-promoted company has acquired a 12-acre land at Sikanderpur in Bihta to set up this plant.

Creamy, delectable – and pricey

Packaged foods in the U_S_ must follow new rules in order to call themselves “healthy.”

At least five companies, including Zomato Ltd. and its recently-listed rival Swiggy Ltd., have unveiled or announced plans to offer quick food delivery in the last few weeks. But how they do it varies: Zomato unit Blinkit’s food delivery app Bistro and Zepto Cafe are relying on in-house kitchens to swiftly cook and assemble eatables, while Swiggy is partnering with restaurants from Starbucks Corp. to McDonald’s Corp.

SWIGGY

Subscribe to enjoy similar stories. New Delhi: The consumer affairs ministry is developing a Repairability Index for consumer durables on the lines of star-rating system used for evaluating the energy efficiency of electrical appliances, Union minister for consumer affairs, food and public distribution Pralhad Joshi said.

These high-performing stocks that rallied more than 10% during the session included, Empire Ind(14.91%), CWD L(14.65%), Tips Films(13.84%), Prime Urban Dev(13.82%), Sinclairs Hotel(12.90%), Lancer Container Lines(11.62%), Investment & Precision Castings(11.54%), Garuda Construction(11.48%), Perfectpac Ltd(10.76%) and 52 Weeks Entertainment(10.59%).

Private equity major KKR has acquired a stake in Mumbai-based Rebel Foods, the parent company of Faasos, Behrouz Biryani, and other cloud kitchen brands, according to a company statement. The investment was made through a secondary share purchase transaction and follows Singapore’s sovereign fund Temasek-led $210 million (approximately Rs 1,782 crore) funding round announced on December 12. KKR has not disclosed the size of its investment. A significant portion of the latest financing round comprises secondary share sales, conducted at a lower valuation of around $750-800 million. In contrast, the primary funding infusion was executed at a flat valuation of $1.4 billion. While secondaries are typically done at a discount to the last primary valuation, this transaction reflects a steep discount of approximately 50%.

Earlier a Supreme Court bench of the then CJI Justice Gogoi and Justice R Banumathi gave a split verdict. Justice Banumathi opined that coconut oil packed in small containers are to be classified as hair oil while Justice Gogoi believed small packages of coconut oil were food. The current three-judge panel clarified the matter. Chief Justice Sanjiv Khanna, Justice Sanjay Kumar, and Justice R Mahadevan stated that coconut oil meeting food safety standards is edible oil. If it meets cosmetic standards, it's hair oil. The branding will determine the classification.

Lupin will remain in focus on Thursday after the drugmaker received approval from the US Food and Drug Administration (FDA) for its abbreviated new drug application (ANDA) for HIV tablets emtricitabine and tenofovir alafenamide tablets, 200 mg/25 mg. «We wish to confirm that the Company has received approval from the United States Food and Drug Administration (U.S. FDA) for its Abbreviated New Drug Application (ANDA) for Emtricitabine and Tenofovir Alafenamide Tablets, 200 mg/25 mg, to market a generic equivalent of Descovy® Tablets, 200 mg/25 mg of Gilead Sciences, Inc,» Lupin said in an exchange filing.

Nalini Unagar, a food enthusiast, recently announced her decision to end her YouTube career, leaving her followers surprised. After dedicating three years to the platform and creating over 250 videos, Nalini revealed she had invested approximately Rs 8 lakhs in building a studio kitchen, purchasing equipment, and promoting her channel. Despite her efforts, she received no significant returns, leading her to delete all her content and put her equipment up for sale. Nalini expressed frustration over her experience, stating that success on online platforms often depends on luck and unpredictable algorithms. Her disappointment stemmed from the lack of recognition for her hard work. Reflecting on the challenges of relying on online platforms as a primary income source, Nalini warned that such ventures could fail unexpectedly, no matter the effort invested.

Finance Minister Nirmala Sitharaman and Commerce Minister Piyush Goyal have both called for lower borrowing costs in recent months, and some economists have said the RBI could be doing more to encourage lending to boost growth. ALSO READ: RBI's MPC didn't cut rates this time around. But, there is more to this story...

Subscribe to enjoy similar stories. The year 2024 was far from stellar for Indian stocks, particularly in retaining foreign investment. Towards the end of the year, as markets experienced a significant correction, foreign institutional investors (FIIs) began pulling their funds from Indian equities.

Grubhub Inc. will pay $25 million to settle a dispute over alleged deceptive business practices with the Illinois attorney general and the Federal Trade Commission

The rate of inflation slowed to 1.9 per cent in November, once again slipping under the Bank of Canada target of two per cent.

Umang Dairies Ltd.(up 6.94%), Gopal Snacks Ltd.(up 5.69%), Nakoda Group Of Industries Ltd.(up 3.79%), LT Foods Ltd.(up 2.99%), Euro India Fresh Foods Ltd.(up 2.68%), Sheetal Cool Products Ltd.(up 0.75%), ADF Foods Ltd.(up 0.71%) and Varun Beverages Ltd.(up 0.38%) stood among the top gainers.

Nitin Gadkari on Tuesday said the food delivery economy is very important for India as it generates large-scale employment. Addressing Zomato's 'Sustainability and Inclusivity: Role of the Platform Economy' conference, the Road Transport and Highways minister said that at present India has 77 lakh delivery workers and this number is likely to touch 2.5 crore by 2030. «Giving employment to 2.5 crore youths of this country is really a big thing for the country...The most important priority for all of us is to create jobs,» he said. The minister also appreciated online food delivery platform Zomato for providing employment to a lot of unemployed youth of the country.

Sri Lankan President Anura Kumara Dissanayake was hosted by Indian Prime Minister Narendra Modi in his first overseas visit since assuming office that focused on shoring up ties as concerns grew over China’s influence in the region

Subscribe to enjoy similar stories. India’s farm sector has long been bonded to the state. The supply of major crops is responsive not to price signals that reflect actual demand, but mostly to minimum support prices (MSPs) set by the government, which is widely seen by farmers as their buyer of first and last resort.

Lite Bite Foods, which runs restaurant chains Punjab Grill, Street Foods, YouMee and Asia 7, has initiated talks with private equity firms and strategic investors to sell a minority stake in the company, executives with knowledge of the development said. The company's two promoters, Amit Burman of the Dabur family and co-founder Rohit Aggarwal, will continue to hold significant majority stake in the business, according to the executives. «Lite Bite Foods is exploring multiple options to bring in either private equity players or a strategic investor onboard. The talks are in exploratory stages,» according to one executive. The company is looking to accelerate growth at a time when competition in the specialised dining space is heating up and investor interest has accelerated.