From fast food and athleisure to ACs, the demand for several non-discretionary items has spiked since May 17, when Lockdown 4.0 was extended till May 31.
In 2019, the growth in sales of the Maggi brand of products surpassed the pre-ban level of 2014, in terms of both volume and value. While, Nestle raised prices of Maggi products by an average 3.1 per cent, its volume rose by 9.6 per cent year-on-year.
With states in north India imposing stricter measures to curb intra-state movement after April 20, makers of summer products such as air conditioners, refrigerators, colas, and ice creams are estimating a 25-60 per cent drop in yearly sales.
Most listed corporate entities in the country are in a fix. With the sudden declaration in late March of a nationwide lockdown to tackle the Covid-19 pandemic, the final calculations of their financial results for the year 2019-20 (FY20) are hanging in limbo. Till April 19, only 41 of the 3,947 companies listed on the BSE have managed to finalise the dates for the declaration of their yearly financial results.
Even as most manufacturers are still assessing the overall impact on their businesses, early projections suggest the market may grow at its lowest ever rate, in 2020.
In 2020 a round of hikes in customs duty on components like compressors, motors and printed circuit boards aggravated the situation, coronavirus crisis is now leaving manufacturers with no option but to hike prices despite fall in sales.
The delay of the SE 2, billed as the cheapest iPhone and tentatively priced below Rs 40,000 in India, puts the brakes on the tech major's plans for a revival. With the supply chain at its largest manufacturer Foxconn in disarray, as it is struggling to operate in China because of the COVID-19 crisis, the postponement was inevitable.
From the rollback of customs duty on key electronic components to fast tracking delivery of goods imported from China, players are looking for incentives on several counts.
While the outbreak has forced most leading brands like Apple, Xiaomi, Oppo, Vivo, and Realme to rework their launch dates and pricing strategies, Samsung, which struggled to maintain its hold over the market last year, has taken the lead.
Launched by the ministry of housing and urban affairs, the ease of living index (EoLI) is aimed at providing a holistic view of the country's cities. These will be done on parameters like services provided by local bodies, effectiveness of the administration, outcomes generated through those services in terms of liveability and citizens' perception of the outcomes.
But it may come with a downside risk of further rise in prices of several products.
Used since 1984 when late Rajiv Gandhi became the PM, the current residence was built over 12 acres of land, based on designs by New Delhi's chief architect Edwin Lutyens. However, with a new redevelopment blueprint on the table, the PM's residence is now expected to move to the South-West corner, behind South Block on Raisina Hill. Arnab Dutta reports.
Its proximity to popular tourist destinations like Agra, which attracts 45 per cent of the international passenger traffic at IGI, could be diverted to Jewar.
Chocolate majors in India posted healthy top-line growth in FY19. While Mondelez India Foods - the marketer of Cadbury - continued to lead the pack, Nestle India, which dominates the confectionery space with leading brands like Kitkat and Munch, continues to hold the third spot in revenue. However, two of these companies - Mars International India and Hershey India - still remain in the red.
While Coca-Cola India improved its profit margin during the year, arch rival PepsiCo's margin was far lower. Coca-Cola India, which does not manufacture or market any products, gets majority of its revenue from royalty incomes against ownership of formulations for key products. Over the years, PepsiCo's operating revenue has come down significantly, as it kept divesting bottling plants to its franchise partners.
This means, Coca-Cola group will no longer bottle and market any of its beverages in the country.
The added burden on manufacturers for recycling e-waste is expected to impact their margins, which may further lead them towards hiking prices of other items.
While the company did not reveal its profit or loss for the period, according to its fillings, food and beverages was the largest category - accounting for 62.23 per cent or Rs 5,184 crore of its total sales.
Amid the protests against leading e-commerce firms, Flipkart and Amazon, shipments through the online route in fact witnessed a double-digit growth every quarter.
Alleging misconduct by its permanent workers, labour unions and contract staff, the plant management informed all stakeholders, through a notice, that starting Monday "normal operations" at the plant are being suspended.
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