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In a first, gem & jewellery exports upto Rs 1 mn allowed via courier In a major milestone, the Gem and Jewellery Export Promotion Council (GJEPC) has facilitated India’s first exports through the “courier mode” from Mumbai – as against the regular ‘cargo mode’ - marking a huge leap in simplifying international trade, an official said here. The country’s first four jewellery exports from Caratlane worth more than $1,000, via an Air India flight to the US departed on Wednesday. Terming it as a ‘historical ste...
In a first, gem & jewellery exports upto Rs 1 mn allowed via courier
In a first, gem & jewellery exports upto Rs 1 mn allowed via courier
Source: IANS
8/09/2023 4:25:35 PM
Huge potential to increase exports of organic agri products: Commerce Secretary Commerce Secretary Sunil Barthwal has said that there is a huge potential to increase exports of organic agri products as the global market stood at about $135 billion and India's shipments are only over $700 million. He also said that the industry should also work on improving the quality and standards of these products.  The secretary urged the industry to promote the logo of India organic as it would help in promoting the credibility of the products in the international market....
Huge potential to increase exports of organic agri products: Commerce Secretary
Huge potential to increase exports of organic agri products: Commerce Secretary
Source: IANS
8/09/2023 11:36:43 AM
ONDC, Google Cloud join hands to advance e-commerce in India with AI The government's ONDC (Open Network for Digital Commerce) and Google Cloud on Wednesday announced that they are collaborating to advance e-commerce in India with generative artificial intelligence (AI). ONDC and Google Cloud will launch an India-wide hackathon aimed at catalysing innovation and addressing critical challenges for the next billion digital users in the country.  The hackathon plans to develop solutions that democratise access to digital commerce, regardless of dig...
ONDC, Google Cloud join hands to advance e-commerce in India with AI
ONDC, Google Cloud join hands to advance e-commerce in India with AI
Source: IANS
6/09/2023 4:46:09 PM
Maintaining trust, governance key for digital ecommerce ecosystem: ONDC CEO Open Network for Digital Commerce (ONDC) CEO T. Koshy on Wednesday said that maintaining governance and trust building is the key for the digital commerce ecosystem in the country and ONDC has achieved this task.  Addressing the Global Fintech Fest 2023 (GFF 2023) here with Noopur Chaturvedi, CEO, NPCI Bharat BillPay Limited and Suresh Sethi, MD and CEO, Protean eGov Technologies, Koshy emphasised that ONDC comes in as a network administrator. “We facilitate a lot more transp...
Maintaining trust, governance key for digital ecommerce ecosystem: ONDC CEO
Maintaining trust, governance key for digital ecommerce ecosystem: ONDC CEO
Source: IANS
6/09/2023 12:52:23 PM
FSN E-Commerce Ventures gains on acquiring stake in FSN International FSN E-Commerce Ventures is currently trading at Rs. 134.40, up by 0.85 points or 0.64% from its previous closing of Rs. 133.55 on the BSE. The scrip opened at Rs. 135.00 and has touched a high and low of Rs. 135.50 and Rs. 133.75 respectively. So far 107381 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 235.30 on 03-Oct-2022 and a 52 week low of Rs. 114.30 on 26-Apr-2023. Last one week high and low of the scrip...
FSN E-Commerce Ventures gains on acquiring stake in FSN International
FSN E-Commerce Ventures gains on acquiring stake in FSN International
Source: Accord Fintech
1/09/2023 10:57:33 AM
E-commerce industry needs regulation to provide level-playing field for small businesses: CAIT Confederation of All India Traders (CAIT) has said that the e-commerce industry needs regulation to provide a level-playing field for small businesses. CAIT Secretary General Praveen Khandelwal said that the same set of 5-6 companies are top sellers on prominent e-commerce platforms which leaves no scope for small businesses to grow. He said 'there has to be a regulatory authority like SEBI for share market, and for telecom industry to regulate and monitor e-commerce and we are going to r...
E-commerce industry needs regulation to provide level-playing field for small businesses: CAIT
E-commerce industry needs regulation to provide level-playing field for small businesses: CAIT
Source: Accord Fintech
23/08/2023 12:25:20 PM
Flipkart co-founder Binny Bansal plans e-commerce startup Flipkart co-founder Binny Bansal is reportedly planning a new startup in the burgeoning e-commerce space in India. According to Money Control, Bansal recently sold his remaining stake in Flipkart and is now looking to create an e-commerce startup. The report said, citing sources, that Bansal will not seek to raise external funds and would rather infuse his own capital in the new e-commerce startup. Bansal received about $1-$1.5 billion from his shareholding in Flipkart. Binny...
Flipkart co-founder Binny Bansal plans e-commerce startup
Flipkart co-founder Binny Bansal plans e-commerce startup
Source: IANS
18/08/2023 7:28:54 PM
Singapore`s Sea to invest more in e-com platform Shopee amid TikTok threat E-commerce giant Sea will bump up investments in its online shopping business Shopee across all markets as Chinese company TikTok’s shopping venture expands into new territories, the media reported on Wednesday. The Southeast Asian tech company Sea, which has shut operations of its e-commerce portal Shopee in India, aims to invest more in its e-commerce unit as competition heats up, reports Nikkei Asia. TikTok, the short video platform owned by ByteDance, launched online shopping...
Singapore`s Sea to invest more in e-com platform Shopee amid TikTok threat
Singapore`s Sea to invest more in e-com platform Shopee amid TikTok threat
Source: IANS
16/08/2023 6:00:25 PM
Shiprocket Launches E-commerce Trends Report with ONDC at SHIVIR; Forecasts Consumer Spending in India to Exceed $4 trillion by 2030  Shiprocket, India’s leading eCommerce enablement platform, launched a detailed trends report titled “eCommerce in the New Bharat and it’s Future” today at its flagship event Shiprocket SHIVIR 2023 in New Delhi.    The report launched by Shiprocket’s CEO & Co-Founder, Saahil Goel, along with Mr. T Koshy, MD, & CEO of ONDC, and Bhaveh Pitroda, CEO, Images Group, is in line with Shiprock...
Shiprocket Launches E-commerce Trends Report with ONDC at SHIVIR; Forecasts Consumer Spending in India to Exceed $4 trillion by 2030
Shiprocket Launches E-commerce Trends Report with ONDC at SHIVIR; Forecasts Consumer Spending in India to Exceed $4 trillion by 2030
Source: PR Agency
9/08/2023 2:32:31 PM
Delhivery moves up on winning contract from Havells India Delhivery is currently trading at Rs. 416.20, up by 5.10 points or 1.24% from its previous closing of Rs. 411.10 on the BSE. The scrip opened at Rs. 409.40 and has touched a high and low of Rs. 420.00 and Rs. 409.40 respectively. So far 17817 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 621.35 on 10-Aug-2022 and a 52 week low of Rs. 291.00 on 27-Jan-2023. Last one week high and low of the scrip stood at Rs. 4...
Delhivery moves up on winning contract from Havells India
Delhivery moves up on winning contract from Havells India
Source: Accord Fintech
9/08/2023 11:40:15 AM
Walmart buys out $1.4 billion Tiger Global stake in India`s Flipkart - WSJ Walmart has paid $1.4 billion to buy out hedge fund Tiger Global's investment in its Indian e-commerce firm Flipkart and acquired private equity firm Accel's remaining 1% stake in the company as well, media reports said on Monday. The Wall Street Journal said Walmart bought the shares from Tiger Global recently, valuing the Indian company at about $35 billion. This is down from a near-$38 billion valuation which Flipkart had attained in 2021. The U.S. retailer bought a 77% stake...
Walmart buys out $1.4 billion Tiger Global stake in India`s Flipkart - WSJ
Walmart buys out $1.4 billion Tiger Global stake in India`s Flipkart - WSJ
Source: Reuters
8/08/2023 7:39:35 PM
Indian e-commerce startup Meesho posts first-ever profit, plans IPO in 12-18 months Indian e-commerce startup Meesho has posted its first-ever profit and is targeting a stock market listing in the next 12-18 months, a senior company executive said in an interview. Meesho competes with Amazon and Walmart's Flipkart in India's fast-growing e-commerce market, with its website becoming popular by targeting smaller towns and cities with unbranded products like clothes and cosmetics. It was last valued at nearly $7 billion, PitchBook data shows. After posting losses ...
Indian e-commerce startup Meesho posts first-ever profit, plans IPO in 12-18 months
Indian e-commerce startup Meesho posts first-ever profit, plans IPO in 12-18 months
Source: Reuters
7/08/2023 12:25:34 PM
Jio-bp`s EV charging business footprint expands big Jio-bp is leading from the front in India's EV transition. Jio-bp is partnering with several players from automobile sector, real estate and mall developers, e-commerce players, fleet operators, corporates and other large establishments to create a robust public EV charging infrastructure and battery swapping network. Operating under the brand Jio-bp Pulse, Jio-bp has added over 1,000+ public charge points in FY 2022-23, taking their network strength to 1,400+ across 8 cities and major...
Jio-bp`s EV charging business footprint expands big
Jio-bp`s EV charging business footprint expands big
Source: IANS
6/08/2023 4:22:08 PM
Buy Zomato Ltd For Target Rs.115 - JM Financial Institutional Securities Zooming to new highs but value unlocking far from complete To say that Zomato’s 1QFY24 results were ‘stellar’ would be a gross understatement. While we strongly believed that the Street estimates were depressed, the quantum of the beat was just unfathomable. Take this: the company delivered adj. EBITDA of INR 1.81bn in Food Delivery (FD) in Jun-Q versus INR 0.78bn in Mar-Q, a c.49% beat on JMFe that was likely amongst the highest on the Street. This was despite ‘mut...
Buy Zomato Ltd For Target Rs.115 - JM Financial Institutional Securities
Buy Zomato Ltd For Target Rs.115 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities
4/08/2023 2:50:59 PM
Paytm ONDC sells nearly 6000 kg tomatoes within a week in Delhi-NCR, leads with over 60% market share Paytm E-commerce Private Limited (PEPL) today announced that it has already sold nearly 6,000 kg of tomatoes within a single week through ONDC on the Paytm app. With this, Paytm ONDC leads the chart with 60% of the total tomato sales in Delhi NCR on the ONDC network.   Paytm was the first to go live with ONDC and launched Paytm se ONDC on the Paytm app powered by PEPL.   The sale on Paytm ONDC was announced last week through National Cooperative Consu...
Paytm ONDC sells nearly 6000 kg tomatoes within a week in Delhi-NCR, leads with over 60% market share
Paytm ONDC sells nearly 6000 kg tomatoes within a week in Delhi-NCR, leads with over 60% market share
Source: PR Agency
4/08/2023 11:05:11 AM
Government likely to come out with draft e-commerce policy soon The government is likely to come out with the draft of the much awaited e-commerce policy soon. The prospects of the policy being unveiled soon looked brighter as Commerce Minister Piyush Goyal on Wednesday held final round of consultations with industry players like Amazon, Flipkart, and Tata Digital among others. Consumer Affairs Secretary Rohit Kumar Singh and Secretary, Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh were also present in the meetin...
Government likely to come out with draft e-commerce policy soon
Government likely to come out with draft e-commerce policy soon
Source: IANS
3/08/2023 9:06:12 AM
Walmart buys out $1.4 billion Tiger Global stake in India`s Flipkart - Wall Street Journal Walmart has paid $1.4 billion to buy out hedge fund Tiger Global's investment in e-commerce firm Flipkart, the Wall Street Journal reported on Sunday, citing a letter by the hedge-fund to its investors. A Walmart spokesperson confirmed the transaction in an emailed response to Reuters but did not comment on financial details of the deal. The transaction will value the e-commerce firm at $35 billion, the WSJ report said. "We remain confident in the future of Flipkart and are ...
Walmart buys out $1.4 billion Tiger Global stake in India`s Flipkart - Wall Street Journal
Walmart buys out $1.4 billion Tiger Global stake in India`s Flipkart - Wall Street Journal
Source: Reuters
31/07/2023 9:22:25 AM
Buy IndiaMART Ltd For Target Rs. 3,845 - Yes Securities Ltd Result Synopsis Indiamart (INMART) reported broadly inline financial performance for the quarter. The sequential revenue and EBITDA margin were along expectation. It reported sequential revenue growth of 4.9% QoQ, led by 2.5% QoQ increase in the number of paid customers and around 1.8% QoQ increase in average realization. The growth in the number of paid customers was at around ~5k. There was sequential improvement in EBITDA margin(up 281 bps QoQ) led by positive operating leverage. The In...
Buy IndiaMART Ltd For Target Rs. 3,845 - Yes Securities Ltd
Buy IndiaMART Ltd For Target Rs. 3,845 - Yes Securities Ltd
Source: Yes Securities Ltd
28/07/2023 2:56:02 PM
Mass consumers projected to drive Indian retail market to $1.3 tn by 2030 Mass’ consumers are projected to drive $1.3 trillion in the overall Indian retail market by 2030, a new report said on Wednesday. In terms of gross merchandise value (GMV), mass consumers are projected to drive over 45 per cent of the $300 billion e-commerce opportunity by 2030, contributing to $135 billion in GMV, according to the report by market research firm Redseer. As of 2022, India has 65-70 million households transacting on e-commerce platforms monthly, which is projected ...
Mass consumers projected to drive Indian retail market to $1.3 tn by 2030
Mass consumers projected to drive Indian retail market to $1.3 tn by 2030
Source: IANS
26/07/2023 12:48:27 PM
Safexpay Launches One-click Checkout to Tackle Cart Abandonment for E-commerce Safexpay, a leading payments solution company, has introduced Aasaan Checkout, a one-click checkout solution, to address the issue of cart abandonment and improve conversion rates for digitally enabled businesses. The platform specifically caters to Direct-to-Consumer (D2C) brands and small to mid-size e-commerce marketplaces that do not have dedicated mobile apps. Aasaan Checkout aims to increase conversion rates by up to 30% compared to current levels. Built with scal...
Safexpay Launches One-click Checkout to Tackle Cart Abandonment for E-commerce
Safexpay Launches One-click Checkout to Tackle Cart Abandonment for E-commerce
Source: PR Agency
11/07/2023 7:32:24 PM
Roposo, Shopify join hands to boost digital entrepreneurship in India Homegrown video-sharing social media platform Roposo on Monday announced that it has joined forces with global e-commerce giant Shopify to boost digital entrepreneurship in India.  This strategic partnership aims to empower over 10,000 digital entrepreneurs to launch and scale their businesses by offering comprehensive support throughout their entire business journey, including assistance with setting up online stores, product sourcing, order fulfilment and payments.   &q...
Roposo, Shopify join hands to boost digital entrepreneurship in India
Roposo, Shopify join hands to boost digital entrepreneurship in India
Source: IANS
10/07/2023 3:50:39 PM
Digital wallets transactions value to surpass $16 trillion by 2028 The total value of digital wallets transactions is forecast to rise from $9 trillion in 2023 to $16 trillion in 2028, a growth of 77 per cent, a report showed on Monday. This trend is driven by growth across both developed and developing markets, as the increased adoption of advanced services such as BNPL (Buy Now Pay Later) and micro-loans drives end-user engagement, according to Juniper Research. “Advanced services give digital wallet providers an opportunity to differentiate th...
Digital wallets transactions value to surpass $16 trillion by 2028
Digital wallets transactions value to surpass $16 trillion by 2028
Source: IANS
10/07/2023 2:51:05 PM
E-commerce growth in India to hit $150 bn by 2026 The e-commerce transaction value in India is likely to rise from $83 billion in 2022 to nearly $150 billion in 2026 at a 16 per cent compound annual growth rate, a report showed on Wednesday. The Philippines, Indonesia, India, Malaysia and Vietnam are projected to lead e-commerce growth in APAC through 2026, according to the FIS Global Payments Report 2023. “India has emerged as a global payments leader, developing the next generation of real-time payments infrastructure with the ...
E-commerce growth in India to hit $150 bn by 2026
E-commerce growth in India to hit $150 bn by 2026
Source: IANS
5/07/2023 4:01:19 PM
Buy FSN E-Commerce Ventures Ltd For Target Rs.210 - JM Financial Nykaa hosted its 2023 Investor Day where the company enabled an opportunity for investors and analysts to interact with the senior management. The company used this event to elaborate on the ‘realistic’ TAM and consumer base potential for Nykaa, rationale for investments in technology, deep-dive on owned brands and strategic decision making in BPC, Fashion and Others segments. Though the management resisted from providing any forward guidance, we understand that Nykaa’s segm...
Buy FSN E-Commerce Ventures Ltd For Target Rs.210 - JM Financial
Buy FSN E-Commerce Ventures Ltd For Target Rs.210 - JM Financial
Source: JM Financial Institutional Securities Limited
30/06/2023 12:50:45 PM
Ajay Chitkara to join Ecom Express as MD & CEO Ecom Express Limited, a leading end-to-end technology-enabled logistics solutions provider to eCommerce industry backed by marquee private equity investors Partners Group, Warburg Pincus and British International Investment, today announced that Mr. Ajay Chitkara will join as the new Managing Director and Chief Executive Officer of the Company.  Ajay currently serves as Director & CEO of Bharti Airtel's enterprise arm, Airtel Business and will assume responsibilities at E...
Ajay Chitkara to join Ecom Express as MD & CEO
Ajay Chitkara to join Ecom Express as MD & CEO
Source: PR Agency
28/06/2023 4:52:01 PM
Google unveils new AI tools for India, announces accelerator programme for ONDC Google on Wednesday announced several artificial intelligence (AI) tools and technologies for India to support growth and innovation among local developers, along with launching an accelerator programme for ONDC. Google Cloud is launching an accelerator programme for the government’s ecommerce initiative ONDC to help digital sellers build and scale their digital commerce operations.  As part of this initiative, the company is open sourcing a ready implementation of ONDC infra...
Google unveils new AI tools for India, announces accelerator programme for ONDC
Google unveils new AI tools for India, announces accelerator programme for ONDC
Source: IANS
28/06/2023 12:56:54 PM
India`s Tier II cities spend over 2 hr on avg shopping online per week  Indians from Tier II cities and beyond spend an average of 2 hours and 25 minutes per week shopping online, spending approximately 16 per cent of their income, a new report showed on Tuesday. According to CyberMedia Research (CMR), Tier II cities, including Guwahati, Coimbatore and Lucknow among others, lead in eCommerce time spent shopping, however, among Tier I cities, Bengaluru leads with the maximum of 4 hours and 2 minutes weekly on online shopping. "The wide range of ch...
India`s Tier II cities spend over 2 hr on avg shopping online per week
India`s Tier II cities spend over 2 hr on avg shopping online per week
Source: IANS
28/06/2023 9:35:39 AM
Delhivery falls after Carlyle divests entire 2.53% stake held in company for Rs 709 crore Delhivery is currently trading at Rs. 375.05, down by 11.60 points or 3.00% from its previous closing of Rs. 386.65 on the BSE. The scrip opened at Rs. 385.00 and has touched a high and low of Rs. 385.70 and Rs. 374.00 respectively. So far 97474 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 708.45 on 21-Jul-2022 and a 52 week low of Rs. 291.00 on 27-Jan-2023. Last one week high and low of the scrip stood at Rs...
Delhivery falls after Carlyle divests entire 2.53% stake held in company for Rs 709 crore
Delhivery falls after Carlyle divests entire 2.53% stake held in company for Rs 709 crore
Source: Accord Fintech
23/06/2023 3:21:06 PM
India`s eB2B market likely to reach up to $100 bn by 2030: Report India's business-to-business ecommerce market (eB2B) market is projected to reach $90-$100 billion by 2030, growing at compound annual growth rate (CAGR) of 40-45 per cent from $5-6 billion in 2022, a report showed on Tuesday. Platforms catering to retailers constitute 70-80 per cent of the eB2B market, while the remaining 20-30 per cent is occupied by platforms catering to wholesalers, according to a report by Redseer Strategy Consultants. "Growth in this market will be led by...
India`s eB2B market likely to reach up to $100 bn by 2030: Report
India`s eB2B market likely to reach up to $100 bn by 2030: Report
Source: IANS
20/06/2023 11:01:24 AM
Buy FSN E-Commerce Ventures Ltd For Target Rs.210 - JM Financial Nykaa reported sequential improvement in EBITDA margin for the first time in Q4, post the seasonally best Q3. This was driven by 36%YoY GMV growth with BPC/Fashion/Others growing at 29%/38%/170%, respectively. Consolidated GMV for Q4FY23 was at INR 24.4bn with INR 12.9bn in NSV and INR 13.0bn in revenue. As we highlighted in preview note, Gross Margin improved by 54 bps QoQ to 44.2% with Fashion reverting back to 76.5% GM after the unexpected dip in Q3FY23. On costs, company exercised tight c...
Buy FSN E-Commerce Ventures Ltd For Target Rs.210 - JM Financial
Buy FSN E-Commerce Ventures Ltd For Target Rs.210 - JM Financial
Source: JM Financial Institutional Securities Ltd
14/06/2023 2:48:06 PM
Buy FSN E-Commerce Ventures Ltd For Target Rs.165 - ICICI Securities Focusing on profitable growth   We note that management on the call emphasised on profitable growth. In the fashion segment, it endeavours to improve contribution margins materially. We think this should help allay investor concerns around cash burn. Contribution margin for the ‘Others’ segment also improved to -15.6% in Q4FY23 from -34.8% in Q4FY22, which we think is due to scale benefits (Superstore orders grew to 729k in FY23 up 15x from FY22) and should continue as ...
Buy FSN E-Commerce Ventures Ltd For Target Rs.165 - ICICI Securities
Buy FSN E-Commerce Ventures Ltd For Target Rs.165 - ICICI Securities
Source: ICICI Securities
8/06/2023 4:47:09 PM
The progress of retail industry in the e-commerce era The advancement of the internet in recent years has made many things more accessible to individuals, including communication, entertainment, playing games, obtaining information, online payment, and shopping. There is nothing that an individual cannot do without the Internet. Spykar, a go-to clothing brand for the young and restless, celebrated three decades in business with the launch of the new store in Mumbai's Phoenix Palladium. The latest store is housed in a luxury 2000-square-fo...
The progress of retail industry in the e-commerce era
The progress of retail industry in the e-commerce era
Source: IANS
7/06/2023 2:27:53 PM
Consumer electronics brand DIZO India's CEO moves on  Abhilash Panda, CEO of consumer electronics brand DIZO India, has stepped down after working for two years at the company to pursue new opportunities and challenges in his professional journey. "As I step down as CEO, DIZO India, I will always remain a proud member of the DIZO Squad. Life is an expedition, and I now know what I want to explore. My passion to fulfil the ever-evolving consumer is not going anywhere. I am excited to embrace new opportunities and challenges that lie...
Consumer electronics brand DIZO India's CEO moves on
Consumer electronics brand DIZO India's CEO moves on
Source: IANS
29/05/2023 12:39:17 PM
IBroad7 restructures under entity Reach India, with focus on audio, digital and local iBroad7, the country's largest agency in the audio market with proven capabilities across multiple media including print, outdoor, and television, is now expanding and scaling up rapidly with focus on the new economy, along with a sharp focus on localisation of campaigns and content. The company is expanding, both vertically and horizontally, under a new umbrella entity - Reach India - in a sharply engaged hub-and-spoke model, with widened national and international operations and new ...
IBroad7 restructures under entity Reach India, with focus on audio, digital and local
IBroad7 restructures under entity Reach India, with focus on audio, digital and local
Source: IANS
26/05/2023 5:21:25 PM
FSN E-Commerce Ventures trades higher despite reporting 70% fall in Q4 consolidated net profit FSN E-Commerce Ventures is currently trading at Rs. 127.00, up by 1.95 points or 1.56% from its previous closing of Rs. 125.05 on the BSE. The scrip opened at Rs. 124.40 and has touched a high and low of Rs. 128.15 and Rs. 122.05 respectively. So far 1844140 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 257.66 on 01-Jun-2022 and a 52 week low of Rs. 114.30 on 26-Apr-2023. Last one week high and low of the scri...
FSN E-Commerce Ventures trades higher despite reporting 70% fall in Q4 consolidated net profit
FSN E-Commerce Ventures trades higher despite reporting 70% fall in Q4 consolidated net profit
Source: Accord Fintech
25/05/2023 3:36:51 PM
Commerce ministry trying to address exports issues through ecommerce medium: Santosh Kumar Sarangi Pertaining to issues related to the promotion of exports, the Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi has said that the commerce ministry is trying to address these issues through ecommerce medium. He also said that while the $ 2 trillion export target by 2030 is ambitious as it entails an annual growth of 14.5 per cent (CAGR), it is not impossible. He said ‘we are in touch of the Department of Revenue, RBI, Icegate, and the Department of Post on the issues which ...
Commerce ministry trying to address exports issues through ecommerce medium: Santosh Kumar Sarangi
Commerce ministry trying to address exports issues through ecommerce medium: Santosh Kumar Sarangi
Source: Accord Fintech
25/05/2023 12:45:10 PM
India's Nykaa posts near-50% rise in Q4 pre-tax profit on higher margins  India's   FSN E-Commerce Ventures Ltd parent of cosmetics-to-fashion retailer Nykaa, reported an almost 50% rise in fourth-quarter profit before tax on Wednesday, helped by a sales campaign that convinced customers to buy despite inflationary pressures. Nykaa's consolidated profit before tax rose to 86.29 million rupees from 58.16 million rupees a year ago. The company's profit attributable to shareholders, however, fell 71.8%, as it had reported a ...
India's Nykaa posts near-50% rise in Q4 pre-tax profit on higher margins
India's Nykaa posts near-50% rise in Q4 pre-tax profit on higher margins
Source: Reuters
25/05/2023 9:23:10 AM
Indian e-commerce to grow 1000% & emissions 8-mn tons by 2030  Portending an alarming situation, Indian e-commerce is expected to grow 1000 percent and emissions will shoot up by 8 million tons (80 Lakh) by 2030, as per a new research by the Clean Mobility Collective (CMC) and Stand.earth Research Group (SRG), released globally on Wednesday. The domestic e-commerce market is likely to witness a 10-fold hike - from the current levels of 4-billion parcels delivered per annum to 40 billion per year by 2030. The total annual emissions from this s...
Indian e-commerce to grow 1000% & emissions 8-mn tons by 2030
Indian e-commerce to grow 1000% & emissions 8-mn tons by 2030
Source: IANS
24/05/2023 4:22:39 PM
Myntra launches AI-based personal style assistant `My Stylist` that helps customers complete their look Myntra, Indias leading destination for fashion, beauty, and lifestyle, on Thursday introduced a revolutionary feature on the platform called My Stylist, an AI-powered end-to-end automated personal style guide for its customers. This unique concept is set to revolutionise shopping for fashion and lifestyle at large, with the digital style assistant recommending the right outfits and suggesting a complete look to the users. Ahead of the 18th edition of the highly-anticipated End of Reason...
Myntra launches AI-based personal style assistant `My Stylist` that helps customers complete their look
Myntra launches AI-based personal style assistant `My Stylist` that helps customers complete their look
Source: IANS
19/05/2023 9:14:19 AM
NTT Data Payment Services partners with Facctum for high performance anti-financial crime technology Facctum has announced that FacctViewTM, a new screening platform, has been chosen by NTT Data Payment Services to expand its anti-financial crime defenses. This new technology will support NTT Data Payments Services’ e-commerce platforms by detecting and assessing sanctions, terrorism financing and money laundering risk in consumer transactions. The deal provides NTT Data Payment Services with high-performance counter measures to the threats posed by criminals attempting to commit ...
NTT Data Payment Services partners with Facctum for high performance anti-financial crime technology
NTT Data Payment Services partners with Facctum for high performance anti-financial crime technology
Source: PR Agency
15/05/2023 5:26:46 PM
Government working to bring in e-commerce policy, rules under consumer protection act on same page: DPIIT Secretary Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh has said that the government is working on a proposal to bring out the policy for online retailers and e-commerce rules under the consumer protection act on the same page to protect consumers. He said that once the e-commerce policy will be finalised, it will be put up in the public domain for views. Singh said ‘we are holding discussions to harmonise e-commerce policy and e-commerce r...
Government working to bring in e-commerce policy, rules under consumer protection act on same page: DPIIT Secretary
Government working to bring in e-commerce policy, rules under consumer protection act on same page: DPIIT Secretary
Source: Accord Fintech
12/05/2023 11:37:25 AM
Indian government's e-commerce network ONDC expands into 236 cities, CEO says NEW DELHI - The Indian government's open e-commerce network ONDC has expanded its operations into 236 cities in the country while adding more than 36,000 merchants, a senior company official said on Thursday. The government launched the Open Network for Digital Commerce (ONDC) last year to give small businesses and retailers access to processes and technologies usually provided by big e-commerce platforms such as Amazon and Walmart. The non-profit company's network currently dis...
Indian government's e-commerce network ONDC expands into 236 cities, CEO says
Indian government's e-commerce network ONDC expands into 236 cities, CEO says
Source: Reuters
11/05/2023 7:44:11 PM
Buy One 97 Communications Ltd For Target Rs. 855 - JM Financial Institutional Securities Paytm reported another strong quarter with positive Adj. EBITDA further aided by UPI incentive of INR 1.9bn received during the year. Payment services revenue (adj for UPI incentive) grew +7% QoQ/+23% YoY with net payments yields improving slightly to 14bps (+1bps QoQ). Management continues to indicate that payments yields are expected to decline in the medium term with rising share of lower yielding UPI (payment processing margins to stabilize at 5-7bps vs 7-9bps now). Financial services rev...
Buy One 97 Communications Ltd For Target Rs. 855 - JM Financial Institutional Securities
Buy One 97 Communications Ltd For Target Rs. 855 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities
11/05/2023 2:08:43 PM
Neutral One 97 Communications Ltd For Target Rs. 750 - Yes Securities Result Highlights * Revenue from operations: Revenue at Rs 23,345mn was up 13.2%/51.5% QoQ/YoY, sequentially driven by Payment services to Merchants * Payment processing charges: Payment proc. charges were up 5.8%/0.8% QoQ/YoY and were 54.1% of Payments Serv. Rev., down -988/-2029 bps QoQ/YoY * Contribution profit: Contribution profit at Rs 12,830mn was up 22.4%/138% QoQ/YoY, translating to a Contribution margin of 55%, up 415bps QoQ * Expenses (excl Payment proc. charges): Total expens...
Neutral One 97 Communications Ltd For Target Rs. 750 - Yes Securities
Neutral One 97 Communications Ltd For Target Rs. 750 - Yes Securities
Source: Yes Securities
11/05/2023 12:43:47 PM
Buy IndiaMART Ltd For Target Rs.6,491 - Yes Securities Result Synopsis Indiamart (INMART) reported broadly inline financial performance for the quarter. While, sequential revenue growth was slightly ahead of estimates; EBITDA margin came in slightly below expectation. It reported sequential revenue growth of 6.9% QoQ, led by 4.6% QoQ increase in the number of paid customers and around 2.4% QoQ increase in average realization. The growth in the number of paid customers was at around ~9k. There was sequential decline in EBITDA margin(down 333 bp...
Buy IndiaMART Ltd For Target Rs.6,491 - Yes Securities
Buy IndiaMART Ltd For Target Rs.6,491 - Yes Securities
Source: Yes Securities
8/05/2023 2:58:07 PM
IIM Kashipur Confers 344 MBA Graduates at the 10th Convocation IIM Kashipur hosted its 10 th Convocation for its flagship Two-Year MBA (batch of 2021- 2023), MBA Analytics, Executive MBA, and Doctoral students at the campus. The institute conferred a total of 353 students with degrees, including 9 Doctoral scholars and 344 MBA Graduates (260 Two-Year MBA students, 58 MBA (Analytics) students, and 26 Executive MBA students). 07 students were conferred with the Institute’ Medals for best Academic performance and 01 student with best all-round perf...
IIM Kashipur Confers 344 MBA Graduates at the 10th Convocation
IIM Kashipur Confers 344 MBA Graduates at the 10th Convocation
Source: PR Agency
2/05/2023 11:27:17 AM
Ministry of Textiles develops E-Commerce portal for handicrafts, handloom sector In order to provide products from more than 35 lakh Handloom weavers & 27 lakh Handicraft artisans directly to the consumers while eliminating the middlemen, the Ministry of Textiles has developed an E-Commerce portal for handicrafts and handloom sector. With the help of this virtual Indian store, the artisans will get remunerated fairly with no middlemen to manipulate prices and city dwelling urban Indians will get access to 100% authentic & best handcrafts products emerging strai...
Ministry of Textiles develops E-Commerce portal for handicrafts, handloom sector
Ministry of Textiles develops E-Commerce portal for handicrafts, handloom sector
Source: Accord Fintech
25/04/2023 12:39:24 PM
RIL mentions plans to maintain Net debt/EBITDA below 1 For the first time, Reliance Industries Limited (RIL) has mentioned it plans to maintain Netdebt/EBITDA below 1, despite the upcoming investments, foreign brokerage Morgan Stanley said in a report. The last two years of internal cash profits have funded the last two years of $30 billion in investments (ex-spectrum). Management highlighted the weaker Re/USD and working capital led to higher net debt, the report said. Net debt was flat QoQ to $13 billion with the capex run rate increas...
RIL mentions plans to maintain Net debt/EBITDA below 1
RIL mentions plans to maintain Net debt/EBITDA below 1
Source: IANS
24/04/2023 12:27:34 PM