Author: NNI Editor

Zepto co-founder and CEO Aadit Palicha has denied rival Zomato CEO Deepinder Goyal’s estimate that his company burned over ₹2,500 crores per quarter.“This statement is verifiably untrue and it will be clear when we publicly file our financial statements. However, I know Deepinder, and I know he has only good intentions; this quote could have been an honest mistake,” posted Palicha on LinkedIn on March 4. Palicha was responding to Goyal’s comments to a media publication on March 4, where he was quoted saying that companies in quick commerce were burning about ₹5,000 crores per quarter and that more than…

Saris by Vidhi | Photo Credit: Special Arrangement The length and breadth of the country is home to a plethora of textiles; all indicative of a range of craftsmanship and skill. This has taken centrestage in the Crafts Council of India’s (CCI) showcases in Chennai over the last two decades.Tari — the loom, the summer showcase this weekend organised by the CCI will have saris, kurtas, dupattas and yardage from looms across the country. The saris at this showcase include jamdani, brocade, patola, Chanderi and chikankari.“Saris are the single most versatile piece of unstitched fabric. It is the mainstay of…

How do you like your heels? At Disobedience, they like it quirky — in steel, and engraved wood, and in the shape of spheres, alphabet, curves… Anita Soundar, the founder of the Chennai-based footwear label, wants to rewrite the rules of style. Luxury for her goes beyond leather. Her focus is on vegan, cruelty-free footwear. “We choose upcyled, sustainable, earth-friendly material,” she says as we walk around her unit in Ambattur Industrial Estate. There are shoes, in myriad colours, shapes, and sizes strewn around for quality check. The ones that have passed the test are neatly packaged and arranged on…

A man walks past the new logo of the Bombay Stock Exchange (BSE) building in Mumbai. File | Photo Credit: Reuters Equity benchmark indices Sensex and Nifty bounced back sharply in early trade on Wednesday (March 5, 2025) amid value buying at lower levels as well as tracking the strong rally in Asian peers.Market analysts said domestic equities were highly oversold and were due for a bounce.Moreover, stocks in the Asia Pacific region traded on a positive note early on Wednesday on the tariff relief signal after President Donald Trump sparked a global selloff, they said.The 30-share BSE Sensex benchmark…

Advertising, better customer relations, efficiency gains and healthy demand conditions all underpinned upbeat projections for output in the year ahead. Reprsesentational image. | Photo Credit: The Hindu India’s services sector activity witnessed a sharp uptick in February boosted by improving domestic and international demand, which resulted in a quicker expansion in output and a substantial increase in employment, a monthly survey said on Wednesday (March 5, 2025). The seasonally adjusted HSBC India Services PMI Business Activity Index rose from January’s 26-month low of 56.5 to 59.0 in February, indicating a sharp rate of expansion. In the Purchasing Managers’ Index (PMI)…

Representational image. | Photo Credit: REUTERS New governance risks related to cybersecurity, Artificial Intelligence (AI) and other emerging technologies have emerged as most critical in risk management for enterprises, by a majority of internal audit professionals, according to the latest Institute of Internal Auditors (IIA) – Protiviti India Survey 2025.The findings were released at the IIA India International Conference 2025 held on Tuesday (March 5, 2025) in Mumbai.As many as 66% of Chief Audit Executives (CAEs) across large and midsized enterprises interviewed for the survey consider emerging technologies including AI, ML, and bots, and cybersecurity as the top risks confronting…

To ensure a smooth supply of platinum for jewellery manufacturing and industrial use, the government allows the unrestricted import of platinum alloy with 99 per cent or higher purity of platinum. File picture shows a salesman displaying platinum bangles in Mumbai. | Photo Credit: REUTERS The government on Wednesday (March 5, 2025) imposed import curbs on platinum alloy with less than 99 per cent purity to curb illicit imports of this precious metal blended with significant amounts of gold. Importers of such platinum alloys are now required to obtain import authorisation from the Directorate General of Foreign Trade (DGFT) for…

According to forex traders, rupee is expected to trade with a slight negative bias as fears of a prolonged trade war continue to grip the financial world. | Photo Credit: PTI The rupee appreciated 9 paise to 87.10 against the US dollar in early trade on Wednesday (March 5, 2025), fuelled by the broad weakening of the US dollar and easing crude oil prices. Forex traders said U.S. President Donald Trump’s tariff escalation has set off a chain reaction in global markets, sending the dollar into a downward spiral. Rupee is expected to trade with a slight negative bias as…

Union Finance Minister Nirmala Sitharaman. File photo | Photo Credit: ANI Union Finance Minister Nirmala Sitharaman on Tuesday (March 4, 2025) said that her government is committed to ensuring the timely implementation of all Budget announcements made for the year 2025-26. Click here for our full coverage on the Union BudgetSpeaking at a post-Budget webinar hosted by the Department of Financial Services, the Finance Minister recounted how some of the announcements made in the July 2024 Budget have been implemented in a short time. She said that the Mudra loan limit under the Tarun category has been increased from ₹10…

ByteDance told its U.S.-based employees that it is offering $189.90 per share, the people said [File] | Photo Credit: AP TikTok’s parent company ByteDance is offering to buy back shares at a higher valuation than six months ago as it launches a new share repurchase program for U.S. employees this week, two people familiar with the matter told Reuters on Tuesday.ByteDance told its U.S.-based employees that it is offering $189.90 per share, the people said. The price marks an increase of 11% from the per share price of $171 in their share buyback program from a year ago and $181…