A Nielsen study found that biscuits, salty snacks, toilet soap, shampoo, washing powder and skin creams were reporting a sharp decline in sales due to demonetisation, reports Viveat Susan Pinto from Mumbai. Less than one per cent of the 3,200 traditional trade stores that Nielsen contacted in the weeks following demonetisation had card machines, digital wallets or coupons, indicating sales would continue to be muted for some time. Photograph: Danish Siddiqui/Reuters. Hindustan Unilever (HUL), ... Rediff.com, 1 month ago
The upgrade, said Icra, takes into account the “robust internal accrual generation, leading to low reliance on debt, as well as gearing levels, and strong debt protection metrics”. For the first time, Patanjali Ayurved, co-founded by yoga guru Ramdev and his deputy, Balkrishna, has got a rating upgrade. Icra has revised its long-term rating upgrade for the company from the earlier ‘A-’ to one of ‘A+’, for Rs 300 crore of fund-based facilities. And, it also ...Rediff.com, 3 days ago
Consumer goods, durables, automobiles worst hit. Demonetisation has crippled the earnings of fast-moving consumer goods, durables and automobile companies. Companies like Hindustan Unilever and Asian Paints have told tax officials their sales took a beating due to the high-denomination note recall on November 8. HUL on Thursday reported a decline of nearly 10 per cent in its advance tax outgo for the third quarter to Rs 560 crore from Rs 620 crore in the same period a year ago.Rediff.com, 1 month ago
Broader markets underperformed indices with BSE Midcap down 0.43% while the Smallcap index fell 0.07%. Benchmark indices settled the day on a positive note as investors keenly wait for the Federal Reserve’s rate hike decision due Wednesday night. Sensex rose as much as 194 points during the day led by gains in Tata Motors, Adani Ports, Axis Bank, Wipro, and RIL while Nifty50 reclaimed its 8,200 levels. S&P BSE Sensex ended the day at 26,697, up 183 points, while the broader Nifty50 ...Rediff.com, 1 month ago
Double whammy for consumer firms, where the top line will remain subdued due to demonetisation and margins will squeeze owing to a crude oil spike and rupee depreciation, reports Viveat Susan Pinto/Business Standard from Mumbai. IMAGE: The pressure to raise prices is growing as input prices shoot up. Photograph: PTI Photo. Demonetisation is not the only worry for consumer companies in the December quarter. Operating profit margins could come under pressure as a spike in crude oil prices and ...Rediff.com, 1 month ago
Ban on high-value currency sends advertising industry into a tailspin. The ban on high-value notes has left the domestic advertising market reeling as ad-heavy categories such as consumer goods, retail, real estate, auto and jewellery have seen a spurt in ad cancellations and postponements. The shortfall in ad spends for the December quarter, one of the busiest periods in an advertising year, is pegged at Rs 1,000-1,500 crore. This, according to ad and media agency heads, translates into ...Rediff.com, 1 month ago
on your WebpageAdd Widget >Get your members hooked!