FMCG major Nestle India Ltd on Thursday reported a 20 per cent decline in its net profit at Rs 386.66 crore for the fourth quarter ended December 31, 2021.

The company, which follows a January-December financial year, had posted a profit of Rs 483.31 crore in the same period a year ago, Nestle India said in a regulatory filing.

Online shoppers in India are seeking new experiences in the age of social and video commerce and this has given digital-first brands a massive $250 billion market opportunity by 2030, a new report has shown.

India's e-tailing gross merchandise value (GMV) reached $53 billion in 2021, demonstrating post-Covid acceleration.

Leading digital payments platform PhonePe on Thursday announced that NITI Aayog, in association with the platform, will be hosting the first-ever open-to-all hackathon that aims to showcase path-breaking solutions for the fintech ecosystem.

The Hackathon will provide an opportunity for innovators, digital creators and developers from all over India to think, ideate and code.

Aditya Birla Fashion & Retail Ltd (ABFRL) expects to see over 10 per cent of its revenue come from new age digital brands over the next 3-5 years.

The fashion retail chain recently received its Board of Director’s approval to set-up a subsidiary which will invest in direct-to-consumer (D-2-C) brands and also organically create its own brands across fashion, beauty and other allied lifestyle segments.

Shares of FSN e-Commerce Ventures, the parent company of beauty e-tailer Nykaa, continued to remain under selling pressure, hitting a new low of Rs 1,371.35, on slipping 9 per cent on the BSE in Thursday’s intra-day trade.

At 11:01 am; the stock traded 6 per cent lower at Rs 1,416, as compared to a 0.11 per cent rise in the S&P BSE Sensex. The trading volume at the counter nearly doubled with a combined 2.8 million equity shares changing hands on the NSE and BSE.

Shares of Adani Group of companies were buzzing on the bourses on Thursday, soaring up to 8 per cent on the BSE, in an otherwise range-bound market on the back of heavy volumes.

Adani Green Energy, Adani Power, Adani Transmission and Adani Total Gas were up in the range of 3 per cent to 8 per cent, while Adani Enterprises and Adani Ports and Special Economic Zone added 1 per cent.

Jaguar Land Rover has formed a multi-year strategic partnership with graphics chip giant Nvidia to develop software for its SUVs launching in 2025 and later.

Starting in 2025, all new Jaguar and Land Rover vehicles will be built on the Nvidia Drive software-defined platform with an aim to deliver a wide spectrum of active safety, automated driving, and parking systems as well as driver assistance systems.

Shares of Hero MotoCorp (HMCL) hit an over four-month high of Rs 2,866, rising 3 per cent in Thursday's intra-day trade. The stock has surged 8 per cent in the past three trading days on the BSE ahead of the first electric product (EV) product launch, expected in March.

The stock of country's largest two wheeler maker was trading at its highest level since October 20, 2021, and has recovered 24 per cent from its 52-week low of Rs 2,310.50 on December 20, 2021. It had hit a 52-week high of Rs 3,628.55 on February 8, 2022.

The December quarter results of Balkrishna Industries, which makes tyres for the off-the-road or off highway segment, were a mixed bag with revenue outperformance offset by margin decline. Despite a price hike of 2-3 per cent in the quarter, the gross margins of the country’s largest listed tyre maker by market capitalisation, slipped by 620 basis points y-o-y to 53.5 per cent. Higher natural rubber cost, which gained about 6.4 per cent in the December quarter, was the key reason for the sharp drop at the gross level.

Thirteen women and children, all girls, died after falling into a well while performing a marriage ritual in Uttar Pradesh's Kushinagar district, police said on Thursday.

The incident, in which at least 10 people were also injured, took place at Naurangiya Tola village when an iron grille, they were sitting on, broke, they said.

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