Food Financial News

Zomato Ltd is known for its quick delivery, but investors in its shares seem equally fast or even faster in rewarding the online food delivery company’s financial performance. At least, that’s the impression one gets going by the 12% surge in the stock on Friday reacting to the positive surprises in the June quarter results (Q1FY25). This time around, the strong customer addition of the food delivery segment, which is already profitable at the adjusted Ebitda (excluding Esop) level, is commendable.

RBI) is likely to keep interest rates unchanged this week as high food prices prevent any tilt toward softer policy, but easing core inflation and a global turn toward lower borrowing costs could make a case for the central bank to shift to a neutral stance in the next quarter that coincides with the country’s traditionally busy economic season. An ET poll consisting of 12 respondents unanimously predicted the RBI’s Monetary Policy Committee (MPC) would keep the repo rate unchanged at 6.50% at the end of its three-day meeting on August 8. This would mark the ninth consecutive bi-monthly meeting in which the rate-setting panel could maintaine a status quo on rates. The repo rate is the rate at which the RBI lends to banks.

four members voted for a status quo, while two members–Ashima Goyal and Jayanth R Varma–voted for reducing the repo rate by 25 basis points and changing the stance from withdrawal of accommodation to neutral. “I think that the RBI will be very critically targeting the 4% levels for CPI inflation," said Indranil Pan, chief economist, Yes Bank.

government wants India to be selfsufficient in pulses by 2027-28. As the world’s largest producer of pulses by far, this may not seem hard, but we are also the largest consumer. A large part of pulses’ production in countries like Myanmar, Canada and Australia is meant for India. Ending imports won’t be easy. This is particularly so for a reason that doesn’t get captured by aggregated figures. Policy makers tend to refer to agricultural products as if they were one thing. Just as barrels of oil (within certain specifications) are considered identical, rice, wheat and pulses are also spoken of as one thing for production and trade statistics. But at the consumption end, we know that the differences between varieties are huge.

digital technology and the most modern methods to help find solutions to global food and nutrition challenges today, Prime Minister Narendra Modi said at the 32nd International Conference of Agricultural Economists here on Saturday. “Agriculture is at the centre of our economic policy”, he said and credited farmers having small landholdings – who constitute 90% of people engaged in agriculture in India – for making the country self-sufficient and providing “superfoods” like millets to the world. Modi recalled that when India became independent from colonial rule, its food security was a matter of concern for the world.

BJP leader Gyandev Ahuja's remarks over disaster-hit Wayanad district in Kerala, Communist Party of India (CPI) General Secretary D Raja said that the BJP is trying to 'communalise' the entire tragedy. Speaking to ANI, CPI General Secretary D Raja said, «A tragedy occurred, and people are suffering. Our and several other parties are working on how to help the people- financially, supplying relief material, and shelter. People need food, shelter and medicines. BJP is trying to communalise the entire situation...» «What is your responsibility as the political party of the country,» questioned the CPI leader.

subzis (poriyal) or to grind the masala for kootu (dal-vegetable dish) or avial, coconut milk was not used in my grandmother’s kitchen. Even in the Kerala-inspired olan (ash gourd and black-eyed peas curry), she would prefer to add some ground coconut and regular milk. It was possibly to avoid the extra work of grating a coconut and extracting coconut milk.

nature had other plans as he is among the over 200 people missing in the massive landslides that hit this region on Tuesday. Now, his cousin brother, Ravi Kumar, has arrived here in search of Renjith. Kumar told a TV channel on Saturday that his cousin was one among six Bihar residents working in the landslide-hit area. «Of them, two are fine. The body of a woman was found. The remaining three, including Renjith, are missing,» he said. Teary-eyed, Kumar further said that he had advised his cousin not to go to Wayanad for work as it was raining heavily there.

global food security, said Indian Prime Minister Narendra Modi while Speaking at the inauguration ceremony of the 32nd International Association of Agricultural Economists (ICAE). «Along with water shortage and climate change, nutrition is a big challenge but India has a solution for this — India is the biggest producer of millets — to which, the world called as a superfood, we have named it as Shri Ann. Based on the principle of minimum water and maximum production, India's superfood can solve the issue of global nutrition concern. India is willing to share its basket of superfoods with the world,» the Prime Minister said in his address. Moreover, India is promoting chemical-free natural farming, he added.

Advent International plans to tap the capital markets to list portfolio company Manjushree Technopack Ltd, India's largest rigid plastic packaging solution provider, said people aware of the development. A successful listing will help monetise a part of Advent's six-year investment in the entity that counts brands such as Coke, Pepsi and Bisleri among its customers. The private equity group has hired JM Financial, ICICI Securities, Avendus Capital and Goldman Sachs to manage the IPO. It had hired Avendus and Goldman Sachs earlier this December to find potential buyers for Manjushree.

An estimated 1m Palestinians have fled Rafah since the start of Israel’s offensive there on May 6th. For those who remain, the fighting has had grisly consequences. At least 45 people, including a number of children, died on May 26th after an Israeli air strike set fire to a tent camp; survivors had to pull charred bodies from the wreckage.

pandi (pork) curry to showcase the region’s diverse flavours and ingredients. Coorg’s cuisine is built around staples such as rice—in forms like kadambuttu (rice dumplings) and akki otti (rice flatbread)—meat (pork, mutton, chicken and fish), and foraged wild vegetables with subtle influences from Mangaluru and Kerala. The popularity of Kodava cuisine has been fuelled by the passion of chefs such as Anjali Ganapathy, founder of Pig Out, a Kodava pop-up kitchen in Bengaluru.

FMCG firm Adani Wilmar jumped 6.4% to Rs 370.7 in Friday's intraday trade on BSE after billionaire Gautam Adani's flagship entity Adani Enterprises on Thursday approved the demerger of the company's food FMCG business to Adani Wilmar. «It is believed that the proposed demerger will unlock the direct value of the demerged company’s shareholders into the resulting company and allow a focused strategy and specialization for sustained growth for enhanced value, which would be in the best interest of all the stakeholders and the persons connected with the aforesaid companies,» Adani Enterprises said in an exchange filing.

Varun Beverages Ltd. rose 0.21 per cent to Rs 1572.2 in Friday's trade. It hit an intraday high of Rs 1580.25 and low of Rs 1551.95, respectively, during the day. The stock quoted a 52-week high price of Rs 1707.1 and low of Rs 800.05.

Packaged consumer goods maker Dabur India on Thursday reported 8.27% rise in consolidated net profit at₹494.35 crore for the quarter ended June 2024, meeting analyst estimates. The maker of Real juice and Vatika shampoo reported that rural demand outpaced urban demand by 350 bps in the quarter, even as an overall challenging demand environment marked by high food inflation persisted.

Titan, Hindustan Zinc, ITC, SpiceJet, Zomato among others will be in focus due to first quarter results and various news developments. Titan, Hindustan Zinc, Delhivery

An ammonia leak at a commercial food preparation facility in Virginia sent 33 people to the hospital

tomatoes at Rs 50 per kg in Delhi-NCR and Mumbai retail markets. This move aims to relieve consumers, following an initial reduction to Rs 60 per kg on July 29, announced by Union Food and Consumer Affairs Minister Pralhad Joshi. «Prices of tomatoes have come down after our intervention,» Joshi stated. This initiative was launched to address the soaring tomato prices caused by supply disruptions due to heat waves and erratic rains in various states.

Jubilant Foodworks Ltd. gained 0.05 per cent to Rs 598.9 in Thursday's trade as of 12:13PM (IST). The stock hit a high price of Rs 605.55 and low of Rs 595.55 during the session. The return on equity (ROE) for the stock stood at 18.39 per cent. Traded volume on the counter stood at 12:13PM shares and turnover at Rs 4.38 crore around that time. The stock of Jubilant Foodworks Ltd. quoted a 52-week high price of Rs 605.55 and 52-week low prices of Rs 420.85, respectively.

A deadly food poisoning outbreak has led to the recall of more than 7 million pounds of popular Boar’s Head deli meats made at a plant in Virginia

U.S. health officials are warning that several types of ground cinnamon sold at certain discount and specialty grocery stores are contaminated with high levels of lead