consumer Protection Authority orders Ola to provide choice to consumers for preferred method of refund
Ola only provided a coupon code which could be used for the next ride without providing a clear choice to the consumer to opt between a bank account refund or a coupon. The Central consumer Protection Authority observed that to be a violation of consumer rights. Key Points
Business Todayconsumer spending underwhelming, UK retailers turn to 'extreme bargains'
Matches' woes are the latest sign that retailers' trouble is spreading across the Atlantic amid weaker consumer spending. Shops have been pushed to the breaking point after inflation has boosted their expenses and weighed on consumer spending, and even heavy discounting isn't enough to save them. Key Points
Economic TimesFrom coaching institutes to tobacco, India’s top consumer body is cracking down on misleading ads
Last week, CCPA released draft guidelines on misleading ads from coaching institutes. The past year has seen the authority crack down on misleading ads. Key Points
ThePrintNSSO survey shows doubling of household spending in last decade
India Business News: The National Sample Survey Office (NSSO) has released a comprehensive study showing a significant increase in monthly household consumer spending in India from 2011-12 to 2022-23. Find out the details and implications of this survey. Key Points
Times Of IndiaDon’t expect recovery in FMCG before FY25: Abneesh Roy
Abneesh Roy says: “In our view, in Q3, most of the companies will see flat to low-single digit volume growth in the rural areas while urban areas will be growing faster. Even in Q4, we do not see a big recovery in rural demand currently. Our sense is the recovery will happen in FY25, based on Rs 1 lakh crore election spending, government stimulus, freebies, etc.” Key Points
Economic Times
Govt to talk with IRDA for review of 24-hour hospitalisation rule for mediclaim
The government has said that it will take up the matter with IRDAI to reevaluate the 24-hour hospitalization requirement for mediclaim policies. In response to concerns raised by the National consumer Commission chief, Justice Amreshwar Prasap Sahi, the consumer Affairs Ministry said that it aims to address the evolving nature of medical procedures. Key Points
Economic TimesGovt took many pro-active steps to control prices of food items: Piyush Goyal
On National Consumers Day, Food and consumer Affairs Minister Piyush Goyal claimed that the Central government has made various efforts to control the prices of foot items. On steps taken by the central government, Goyal highlighted that 140 new price monitoring centres have been set up to keep a close watch on wholesale and retail prices of essential commodities. Key Points
Economic TimesSanjiv Bhasin on how he cherry-picks stocks within consumer space
“A sectoral rotation is going on. Pharma and realty are seeing much more delta which has been lagging in the consumer space. I still think the wedding season and the impetus going forward will see these stocks regain their momentum but like I said, earnings may have priced in the best for some time.” Key Points
Economic TimesUS consumer watchdog proposes rules for Big Tech payments, digital wallets
The top U.S. consumer financial watchdog on Tuesday proposed to regulate tech giants' digital payments and smartphone wallet services, saying they rival traditional payment methods in scale and scope but lack consumer safeguards. Key Points
ReutersMamaearth parent Honasa consumer lists 2% higher than issue price at Rs 330
Mamaearth IPO listing: Honasa Consumer's stock was listed at Rs 330 on the NSE, marking a 2 premium over its issue price of Rs 324 per share. On the BSE, it began trading at Rs 324, essentially at par. Key Points
India Today
India's Tata consumer beats Q2 profit estimates as price hikes boost margins
India's Tata consumer Products (TACN.NS) reported quarterly earnings above market expectations on Tuesday, as the salt maker's margins got a boost from price increases it had implemented to counter rising raw material costs. Key Points
ReutersCarlyle pulls back from US consumer bets as part of strategic overhaul -source
Private equity firm Carlyle Group (CG.O) plans to pull back from investing in U.S.-based consumer, media and retail companies as it looks to focus on other key sectors such as technology and financial services, according to a person familiar with the matter. Key Points
Reuters'Consumer staples may stay costly this festive season'
The weakening of the rupee against the dollar has added to the woes of imported consumer staples like edible oils. Mallick said if the rupee weakens further, then the company will have to look into whether to pass on the increased cost on imported edible oil to customers. Key Points
Economic TimesIndia's Raymond Q1 profit jumps on one-off gain from consumer business sale
Indian textiles maker Raymond (RYMD.NS) reported on Friday a multifold jump in first-quarter profit, helped by an exceptional gain from the sale of its consumer business. Key Points
ReutersWall Street ends lower as investors await US inflation data
On Tuesday, the New York Federal Reserve Bank said U.S. credit cards debt surpassed $1 trillion, and Philadelphia Fed President Patrick Harker said the U.S. central bank may be at the stage where it can leave interest rates unchanged. Key Points
Business Today
India's Bajaj Electricals Q1 profit falls as unseasonal rains, inflation hit demand
Bajaj Electricals Ltd (BJEL.NS) on Thursday reported a 13.6% decline in first-quarter profit, dragged by intermittent unseasonal rains and inflationary pressure, sending the consumer durables major's shares down 3.2%. Key Points
ReutersDabur India reports 5.4% rise in Q1 profit on stronger demand
Consumer goods-maker Dabur India (DABU.NS) reported a rise in first-quarter profit on Thursday as easing inflation propped demand. Key Points
ReutersThose who make arrogant assumptions on consumer behaviour, fall on the sword of weak results: Nestle MD
Nestle India is considering expanding aggressively in the packaged food category, including sauces and ketchup and packaged ready-to-eat food, and is open to acquisitions that fit with the company's culture, capability, and expansion through synergies. The company already has a strong prepared dishes business and is investing in noodles, chocolates, and other categories. Nestle India's Chairman and MD, Suresh Narayanan, said the company is looking at both big brands with non-India presence and nascent categories. Key Points
Economic TimesIndia's Tata consumer posts Q1 profit miss on higher expenses
India's Tata consumer Products (TACN.NS) reported a smaller-than-expected 24% rise in first-quarter profit on Wednesday, as mounting expenses outpaced higher sales of its eponymous packaged food and beverages. Key Points
ReutersUnilever's India arm misses Q1 profit view on higher expenses
India's Hindustan Unilever (HLL.NS) reported a smaller-than-expected increase in quarterly profit on Thursday as the consumer goods major grappled with higher costs and tepid demand for branded tea. Key Points
Reuters
Officers' training kicks off to recast consumer price index
The training involves identification of markets and key shops for collecting statistics, sources informed ET. The ministry identifies the most frequented shop as a permanent shop in each market and two reserve shops. CPI base updation training programme will strengthen the data collectors to identify the correct markets and correct shops for item identification, a source said. Key Points
Economic TimesFocus: Investors target consumer goods makers on fears of customer exodus over high prices
Top U.S. and European investors are flagging their concerns about high prices to consumer goods companies, with Janus Henderson going so far as to cut some stakes it holds and shorting food makers it believes are at risk of losing customers. Key Points
ReutersSensex, Nifty close flat as auto, consumer stocks offset slide in financials
India Business News: Indian shares were mostly unchanged on Wednesday due to the rise in auto and consumer stocks offsetting the fall in financials. Nifty index rose 0.05% Key Points
Times Of IndiaTata consumer Share Price Live blog for 28 Jun 2023
Tata consumer stock price went up today, 28 Jun 2023, by 0.07 %. The stock closed at 800.6 per share. The stock is currently trading at 801.15 per share. Investors should monitor Tata consumer stock price closely in the coming days and weeks to see how it reacts to the news. Key Points
MintACI Worldwide fined $25 mln for multibillion-dollar mortgage payment 'fiasco'
The top U.S. consumer finance watchdog on Tuesday said it had fined the Nebraska payment processor ACI Worldwide $25 million for improperly processing more than $2 billion in mortgage payment transactions without customer authorization. Key Points
Reuters
consumer sentiments for 5th straight month: CMIE
Consumer sentiments improved for the fifth consecutive month in May 2023 though the rate of increase has slowed down, raising apprehensions of volatile growth in coming months on the back of erratic monsoon and state election. According to CMIE, while consumer sentiments have been rising steadily during 2023, the rate of increase has been falling. Key Points
Economic TimesRural consumer goods consumption back to growth in March quarter, says report
The increase in product prices slowed to 6.9% from January to March, from 7.9% in the previous quarter, helping consumption in rural India increase 0.3%, after six quarters of decline. Key Points
FinancialexpressGodrej consumer Products to raise up to Rs. 5,000 Cr via NCD issue
During today's closing session, Godrej consumer Products, a large cap FMCG company, recorded a market cap of ₹94,364.82 Cr. Key Points
mintGodrej consumer acquires FMCG business including Park Avenue trademark from Raymond for ₹2,825 crore
As part of the deal, Godrej consumer is acquiring Raymond's FMCG business which also includes trademarks of Park Avenue, KS, KamaSutra, and Premium. The reason behind the acquisition is to drive profitable growth. Key Points
mintGodrej in talks for a deal with Raymond's consumer care business
The potential deal will give Godrej consumer bigger play in the mens personal care and sexual wellness categories. The Singhania-family owned Raymond group has been looking to divest its consumer care business for over two years now, since the group believes this is a non-core business in its portfolio, according to one of the persons mentioned above. Key Points
Economic Times
Sensex, Nifty open higher ahead of earnings, macro data
India Business News: The Nifty 50 has risen over 4.5% in the past seven sessions, its longest winning streak in more than four months. Investors await consumer inflation a Key Points
Times Of IndiaCitigroup poaches two Credit Suisse consumer bankers in Europe
The US firm appointed Maarten Swart as co-head of consumer and retail in Europe, the Middle East and Africa for its banking, capital markets and advisory group. It also hired Credit Suisse managing director Sophie van Kleef to work on food and beverage deals for the consumer team. Key Points
FinancialexpressHassle-free payment, focus on cybersecurity to help promote growth of retail sector: Report
Currently, with increased adoption of digital infrastructure and greater use of smartphones, the direct to consumer market has picked up in a big way with more than 1.35 billion potential customers across regions, it said. Key Points
FinancialexpressIndians buying smaller shampoo packs, less noodles & clothes. What’s halted FMCG sector’s revival
Fast-moving consumer goods companies, most of which derive big share of earnings from rural markets, struggling to meet sales targets. Consumers buying cheaper products, smaller packs. Key Points
ThePrintconsumer sentiment up for fifth straight month in May: CMIE
Though consumer sentiments have been rising steadily during 2023, the rate of increase has been falling, according to CMIE. And going forward, CMIE said, the monthly growth in the ICS or index of consumer sentiments can be expected to be a bit volatile. Key Points
Economic Times
consumer durables demand expected to inch up this summer; long-term outlook remains steady
The recent unseasonal rainfall has played some spoilsport and added to uncertainties. Leading to the overall consumer durable demand seeming a bit muted during the quarter. So we expect it to inch up, as there have been predictions that the summers will be strong. Key Points
FinancialexpressGodrej consumer Products inks pact to buy Raymond consumer Care's FMCG business for Rs 2,825 crore
The Singhania-family owned Raymond group, which owns 47.66 per cent stake in the consumer care business, had been in talks with various potential buyers for over two years now, since the textiles group is of the view that the consumer brands are not core to its business. Key Points
Economic TimesWarranty period should start from date of installation and not purchase date: Centre to white goods makers
Consumer Affairs Secretary Rohit Kumar Singh has written a letter in this regard to six industry bodies as well as many manufacturers. With demand for consumer goods on rise because of festive season, the Centre on Thursday asked white goods manufacturers and sellers to revise their warranty or guarantee policy, ensuring that warranty starts from installation date and not the date of purchase. Key Points
The Tribune IndiaInflation, extreme weather events could spoil the party for India Inc in Bharat
However, inflation was high for most of FY2023. This means the earnings of low-income families —those in rural areas as well as minimum wage earners in urban areas — have broadly been stagnant. But a moderation in inflation, apart from factors such as increased government spend and a rise in incomes, is expected to aid consumer sentiment and, in turn, spending. Key Points
Economic TimesCompetition builds up fast for FMCG companies
To be sure, RIL is not alone in articulating its FMCG ambitions. Amul India's goal, under its new CEO, is to become a total foods company and not just a dairy major. Mondelez, meanwhile, has announced plans to invest ₹4,000 crore over next four years in the Indian market. Tata consumer Products (TCPL) has been aggressively foraying into various categories of consumer staples. Large players such as ITC straddle across most consumer categories. Key Points
Economic Times
Retail and consumer sector in India: Growth predictions for FY25
India's retail and consumer sector experienced limited growth in FY24. The overall fast-moving consumer goods (FMCG) sales declined by 4.5% in Q3, affecting both urban and rural markets. Contributing factors to this decline include depressed consumer sentiment, erratic monsoon affecting rural income generation, and elevated unit pricing across essential and discretionary categories. Key Points
Economic TimesSmall-town consumers spent more on durables & education, less on staples: Report
Indian consumers in tier-2, tier-3, and rural markets prioritize consumer durables, education, and services over staples. The Bharat Lab's report highlights changing spending patterns, emphasizing the importance of sub-regionality and value consciousness, impacting sectors like fuel and tourism across different states. Key Points
Economic TimesFestive wave may lift India's industrial growth in coming months
Industrial growth hit a three-month high of 5.7% in July from 3.8% in June. You can't get a better time for manufacturing than now; festival season is followed by elections, with rabi and marriage season, said Madan Sabnavis, chief economist at Bank of Baroda. Key Points
Economic TimesHealth insurance claim got rejected? Here's what you need to do now
Most of the policyholders regularly pay their health insurance premium hoping that one day this policy will rescue them if they face any medical emergency. However this moment of truth turns into a bitter experience if your claim is rejected. Here is what you can do to make sure that your rightful claim is honored to your satisfaction. Key Points
Economic TimesWith AI, smartphone will become even smarter: JB Park, president and CEO, Samsung Southwest Asia
India is the most strategic market for Samsung. Smartphone or consumer electronics penetration is still not 100%. So that is going to be the number one priority-how do we reach out to consumers who still do not have a refrigerator or TV or washing machine. The mobile phone is almost penetrated at 85%, I believe, but it will evolve in a different direction where premiumisation will kick in, a mass of under-₹15,000 users will now migrate up to ₹25,000, then ₹40,000 price point, says JB Park. Key Points
Economic Times
Guidelines to curb 'deceptive' e-commerce marketing practices soon: Govt
The ministry will develop a comprehensive framework to protect consumers in collaboration with the Advertising Standards Council of India. Initially, these guidelines will be self-regulatory. Key Points
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