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<ul><li>Britannia share price surged almost 38% as investors expect strong growth from the company. </li><li>The estimated 18% to 23% growth in April-June 2020 revenue is better than the company’s previous record.</li><li>The Wadias-owned company makes 80% of its revenue from biscuits but it is also increasing its market share in a key essential product: milk.</li></ul>The revenue for India’s largest biscuits maker Britannia is expected to grow anywhere between 18% to 23% in the April-June 2020 period, the three months where most of the country was under strict lockdown to contain the spread of the COVID-19 virus. This growth rate is impressive not just because it is better than most other companies, this is also better than Britannia’s record before the pandemic. The fact that people were hoarding easily consumable items like biscuits led to a spike in sales. Axis Capital and Sharekhan expect the profit to grow in excess of 50%. <div type="image" title="Copy of Britannia&amp;#39;s revenue growth (1)" msid="76996923" hostid="261"></div>And that is the reason why the stock has run up 38% since March 31 until now as investors expect a blockbuster earnings from the company that makes 80% of its revenue from biscuits. <div type="image" title="Britannia" msid="76996953" hostid="261"></div><table style="width: 96pt;"> </colgroup> <tbody><tr> <td class="xl65" style="height:15.0pt;width:48pt">Stocks</td> <td class="xl65" style="border-left-width: initial; border-left-style: none; width: 48pt;">Change since March 31</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Brittania</td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">39%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Nestle</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">9.46%</td> </tr> <tr> <td class="xl65" style="height: 15pt; border-top-width: initial; border-top-style: none;">Dabur India</td> <td class="xl67" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">7.42%</td> </tr></tbody></table>*as of July 15 3:30 pm It is not just that people wanted to stock up on biscuits but the company ensured it reached everyone who wanted it Britannia Industries is already known to be eating <a href="https://www.businessinsider.in/business/corporates/news/how-britannia-is-beating-parle-g-in-market-share/articleshow/76744606.cms">into ParleG’s market share</a> for a long time now. According to Motilal Oswal, its large brands like Good Day, Milk Bikis and Marie Gold have employed localized strategies to meet the unique needs of different markets and fight local players. It has also partnered with <a href="https://www.businessinsider.in/business/news/britannia-partners-with-dunzo-for-home-delivery-of-essentials-food-items/articleshow/75024021.cms">Swiggy, Dunzo</a> and retailers to sell directly to consumers outside the big cities. “The company has created a strategy to win in ‘Many Indias’ in order to grow the biscuits business,” said Motilal Oswal report. Not relying on biscuits alone Britannia makes nearly 80% of its revenue from biscuits. That is likely to change as the company wants to expand the ‘non-biscuits’ segment. It has plans to make it contribute up to 50% of revenue in the next five years. The company is also increasing its dairy market share. It has scaled up the milk procurement in Ranjangaon, Maharashtra up to 25,000 liters/day from 1,000 farmers. Its ‘Cream wafers’ is now ₹70 billion category and is growing at a healthy pace, the report said. Britannia also wants to add 200,000 to 300,000 outlets every year targeting rural consumers. It currently has a reach of 2.2 million outlets and about ₹200 crore to ₹300 crore to spend on increasing this reach. New product launches According to Motilal Oswal, the reason behind Britannia’s great market penetration can also be the range of products including <keyword id="9585971" type="COMPANY" weightage="20" keywordseo="britannia-treat-burst">Britannia Treat Burst</keyword>, Britannia Treat Stars and Britannia 50-50 Jeera, Treat-Tiramisu and Red Velvet and Little Hearts Strawberry that it launched last year. It also re-launched Good Day biscuits, the most popular brand of the company, and NutriChoice Cream Crackers, NutriChoice Thin Arrowroot with an improved product mix, visual product differentiation. New categories introduced over the past few years, now contribute 2% of sales, which is encouraging, the report said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/rossari-biotech-the-maker-of-products-for-brands-like-vim-rin-domex-and-surf-will-get-listed-on-july-23/articleshow/76991473.cms" data-type="tilCustomLink">The maker of products for brands like Vim, Rin, Domex and Surf will get listed on July 23</a> <a href="https://www.businessinsider.in/stock-market/news/infosys-vs-tcs-vs-wipro-comparison-of-share-price-and-earnings/articleshow/76996578.cms" data-type="tilCustomLink">Infosys shares are on fire because it beat TCS and Wipro⁠— and gave a soothing guidance</a>

Britannia may have sold more biscuits during the covid-19 lockdown than ever before ⁠— the earnings may reflect that

<ul class="summary-list"><li>A passenger touring on a Carnival cruise had died during an expedition in Mystery Island.</li><li>The passenger died while snorkeling, per a report by Australian outlet 7News. </li></ul>A passenger traveling on a Carnival cruise ship has died while on an expedition in Vanuatu, an island country in the South Pacific Ocean.The <a href="https://7news.com.au/news/nsw/cruise-passenger-dies-while-swimming-on-mystery-island--c-10741959" target="_blank" rel="noopener">passenger died while snorkeling on Mystery Island</a>, an uninhabited islet in Vanuatu, according to a report by the local news outlet 7News, citing a passenger on board. The Australian passenger was not identified in the report. "Carnival Cruise Line is deeply saddened by the death of a guest on Mystery Island, following what appears to be a medical situation while swimming," Carnival Australia said in a statement, per the report, adding that the cruise line is "supporting the guest's family along with other guests during this difficult time."The passenger was traveling on the Carnival Splendor cruise ship, which was scheduled for a nine-day sail in the Pacific Ocean. The cruise departed Sydney on May 15. Five days into the cruise, the passenger died, Carnival Australia told 7News. The cruise returned to Sydney on Tuesday.<div type="image" title="mystery island, vanuatu" height="3264" width="4352" msid="100522203" hostid="261"></div>The next Carnival Splendor is <a href="https://www.cruisehive.com/carnival-cruise-guest-dies-while-swimming-ashore/102075" target="_blank" rel="noopener">scheduled to begin on May 28</a>, according to Cruise Hive. The 12-night sail in the Pacific Ocean visits islands in New Caledonia and Vanuatu. The sail's itinerary also notes a stop at Mystery Island. In recent years, several cruise passengers have died while snorkeling during island expeditions. In September, an <a href="https://www.insider.com/american-woman-has-died-after-shark-attack-bahamas-2022-9">American passenger on a Royal Caribbean cruise was killed</a> after being attacked by a bull shark while snorkeling in the Bahamas. Another passenger, who was touring with P&amp;O's Brittania cruise ship, <a href="https://sg.news.yahoo.com/grandfather-died-snorkelling-cruise-holiday-caribbean-082915783.html#:~:text=Andrew%20Evans%2C%2060%2C%20from%20Llanelli,at%20the%20end%20of%20March.&amp;text=Tributes%20have%20been%20paid%20to,on%20board%20P%26O's%20Britannia%20ship." target="_blank" rel="noopener">died while snorkeling in St. Kitts in March</a>, per Yahoo News.Carnival did not immediately respond to Insider's request for comment, which was sent after office hours.

A Carnival cruise passenger died snorkeling in the ocean while on an expedition in Mystery Island

<ul><li>Sensex and Nifty tanked by over 0.5% after RBI raised its inflation projections for FY24.</li><li>The markets had been expecting the RBI MPC to keep the base interest rates unchanged.</li><li>The markets are also awaiting US inflation data to be released on Thursday.</li></ul>Indian benchmark indices, the Nifty and the Sensex, slid over half a percent soon after the Indian central bank’s monetary policy committee (MPC) <a href="https://www.businessinsider.in/policy/economy/news/rbi-policy-mpc-holds-fire-and-keeps-repo-rate-unchanged-inflation-forecast-raised/articleshow/102594613.cms">kept base interest rates unchanged</a> but raised inflation projections for FY24 to 5.4% from 5.1% earlier. Moreover, the inflation projection for the second quarter has shot up to 6.2%. The Nifty Bank, which tracks the top banking stocks in the country, slid over 300 points. "Vegetable prices may see a significant correction in the next few months but uncertainties may remain in domestic food price outlook," said RBI governor <keyword id="6359111" type="General" weightage="50" keywordseo="shaktikanta-das" source="Orion">Shaktikanta Das</keyword> in his speech on Thursday. He added that bringing headline inflation in the tolerance band is not enough, and that they need to be firmly focussed on bringing inflation to 4%. The MPC also maintained status quo on the ‘withdrawal of accommodation’ status. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td colspan="3" style="border-left:solid #cccccc 0.50000025pt;border-right:solid #000000 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 0pt 2pt 0pt;overflow:hidden;overflow-wrap:break-word;">CPI Inflation Forecast Hiked </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 0pt 2pt 0pt;overflow:hidden;overflow-wrap:break-word;">Period </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 0pt 2pt 0pt;overflow:hidden;overflow-wrap:break-word;">Now </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 0pt 2pt 0pt;overflow:hidden;overflow-wrap:break-word;">Earlier </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 0pt 2pt 0pt;overflow:hidden;overflow-wrap:break-word;">FY24 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.40% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.10% </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 0pt 2pt 0pt;overflow:hidden;overflow-wrap:break-word;">Q2FY24 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.20% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.20% </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 0pt 2pt 0pt;overflow:hidden;overflow-wrap:break-word;">Q3FY24 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.70% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.40% </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 0pt 2pt 0pt;overflow:hidden;overflow-wrap:break-word;">Q3FY24 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.20% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.20% </td></tr><tr><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 0pt 2pt 0pt;overflow:hidden;overflow-wrap:break-word;">Q1FY25 </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.20% </td><td style="border-left:solid #cccccc 0.50000025pt;border-right:solid #cccccc 0.50000025pt;border-bottom:solid #cccccc 0.50000025pt;border-top:solid #cccccc 0.50000025pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">- </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> The stock markets which had been trading cautiously for the last few sessions — fell deeply into the red with Sensex tanking by 421 points and Nifty falling by 119 points. In other announcements, the MPC also raised the incremental cash reserve ratio for scheduled banks to 10%, which will come into effect on August 12. This temporary measure is intended to absorb excess liquidity from the system including the influx of ₹2,000 notes into the system. “Good times are when we should build buffers,” Das said in his speech. For the first time in two years, China is experiencing deflation for the first time. The nation’s consumer price index (CPI) fell 0.3% year-on-year in July. Added to that, factory gate prices — called producer price index plunged 4.4% year-on-year in July. Brent crude price fell by 0.15% in morning trade to $87.42 per barrel. ICICI Bank, Brittania, Titan and Tata Motors were among the major laggards in the Nifty pack, while Adani Enterprises, BPCL and ONGC were among the top gainers. On Wednesday, the benchmark indices closed in the green, charting a smart recovery after falling in early trade. There was heavy buying in Reliance Industries, ITC and M&amp;M after a good start was seen in the European markets. Apart from cues from the RBI, the markets are also awaiting US inflation data to be released on Thursday, which will guide Fed’s rate action. “The disinflationary process in the US is likely to continue. A major development which is significant for global markets in general and India in particular is the news of the Chinese economy tipping into deflation. This is bad news for global growth but from India’s perspective the positive likely fall out is that there can be more FPI outflows from China to India. Stocks which FPIs have been buying will benefit,” said <keyword id="18255189" type="General" weightage="50" keywordseo="dr-v-k-vijayakumar" source="Orion">Dr V K Vijayakumar</keyword>, chief investment strategist at Geojit Financial Services. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[]]></cdata></div>

RBI’s inflation forecast hits Dalal Street – Nifty Bank tanks over 300 points; Sensex, Nifty slip 0.5%

<ul class="summary-list"><li>The <keyword id="11939753" type="UNKNOWN" weightage="60" keywordseo="rolling-stones" source="Orion">Rolling Stones</keyword>' <keyword id="13096655" type="UNKNOWN" weightage="60" keywordseo="ronnie-wood" source="Orion">Ronnie Wood</keyword> wants Queen Elizbeth to see the portrait he drew of <keyword id="11971678" type="UNKNOWN" weightage="60" keywordseo="prince-philip" source="Orion">Prince Philip</keyword>.</li><li>Wood told the Daily Mail that Prince William invited him to present him with the painting.</li></ul>Ronnie Wood of The Rolling Stones created a portrait of Prince Philip shortly before the royal's death and <a href="https://www.dailymail.co.uk/femail/article-10465981/Rolling-Stones-Ronnie-Wood-paints-portrait-Prince-Philip-given-Queen.html">now he wants Queen Elizabeth to see it</a>, according to the Daily Mail.Speaking to the British tabloid in a story published on Tuesday, Wood, 74, said that his artwork caught the attention of Prince William, who now intends to show it to the Queen."I did a wonderful painting of the Duke of Edinburgh shortly before he died where he is tipping his hat," he told the Daily Mail's Eleanor Sharples. "I've been asked by Prince William to present the picture to him in the coming weeks, and he's going to show the Queen, so it's a real honor for me.""I am very pleased with it. It's charcoal, a brown sepia pastel of the Duke, and I finished it shortly before he died and I was going to show it to him," he added.Insider's Mikhaila Friel previously reported that shortly after his release from the hospital, <a href="https://www.insider.com/prince-philip-dead-2021-3">Prince Philip died aged 99 on April 9</a>, as the longest-serving British consort in history. Taking to Instagram on the day of the royal's death, <a href="https://www.instagram.com/p/CNc0Hhjjpcz/">Wood first revealed his charcoal etching in a post</a> captioned: "We are very sad to hear of the death of His Royal Highness, The Prince Philip, Duke of Edinburgh. It was an honor to have met the Prince over the years, and have been involved in his charitable causes.""I recently painted this picture of him from a photo I saw, and wanted to share it with you," he added. <div type="image" title="Prince Philip, Duke of Edinburgh, pictured painting with oil colors at an easel during filming of the television documentary 'Royal Family' in London in 1969." height="750" width="1000" msid="89324936" hostid="261"></div><a href="https://www.ralphheimans.com/">Ralph Heimans</a>, the Australian-British royal painter who <a href="https://www.insider.com/prince-philips-final-portrait-artist-reveals-hidden-details-painting-2021-4">painted the royal's final portrait upon his retirement</a> in 2017, told Insider that Philip enjoyed painting his own works, as well as engaging with artists about their craft."When I showed Prince Philip the portrait at the end of the work, we had a good moment in front of the painting, talking about technique, how our techniques differ," said Heimans. "He loves painting seascapes and landscapes and would paint from the deck of the Brittania and his approach, his whole technique was much more spontaneous."Representatives for Wood, Buckingham Palace, did not immediately respond to Insider's request for comment and Kensington Palace declined to comment.

Rolling Stones' Ronnie Wood wants the Queen to see the Prince Philip portrait he drew before the royal died

<ul><li><keyword id="6365619" type="COMPANY" weightage="20" keywordseo="hindustan-unilever">Hindustan Unilever</keyword> Limited has cut prices for <keyword id="6616182" type="UNKNOWN" weightage="20" keywordseo="Lifebuoy">Lifebuoy</keyword>, <keyword id="119472" type="ENTERTAINMENT" weightage="20" keywordseo="Lux">Lux</keyword> and Dove in lieu of low demand. </li><li>The Indian economic slowdown has hit FMCG companies.</li><li>Biscuit manufacturers Parle G and Brittania too have a worried outlook for the <keyword id="34412" type="ORGANIZATION" weightage="20" keywordseo="economy">economy</keyword>. </li></ul>One of the biggest FMCG companies in India – Hindustan Unilever Limited – has cut prices for some of its most popular <a href="https://www.livemint.com/industry/retail/hul-reduces-lifebuoy-lux-prices-in-latest-sign-of-weak-demand-1566928904118.html">soaps </a>– Lifebuoy, Lux and Dove. While demand is one reason for it, tapering commodity prices also allowed them to take a call and pass on the benefits, the company told <a href="https://www.livemint.com/industry/retail/hul-reduces-lifebuoy-lux-prices-in-latest-sign-of-weak-demand-1566928904118.html">Mint.</a> While the price of Lux range will go down by 4%, that of Lifebuoy will go down by 6%. The Indian economic slowdown has impacted all major companies in the FMCG sector. Parle G, a leading biscuit manufacturer said it is planning to slash 10,000 jobs due to weak demand. Even though <a href="https://www.hindustantimes.com/india-news/fair-tax-gst-and-big-job-cut-parle-clears-air-on-layoffs/story-G2N4IYsC5aQ0x9rINe8EHN.html">Parle G</a> has denied the same, it has also said it is “an eventuality if our demand for lesser tax rates is not met.” In the <a href="https://www.dnaindia.com/business/report-consumers-thinking-twice-before-buying-a-rs-5-pack-britannia-2781047">latest earnings conference call</a> of Britannia, the company’s MD Varun Berry raised some serious concerns about the Indian economy. "We've grown only 6% and the market is growing slower than that. And that's a little bit of a worry, because even for a ₹5 product if the consumer is thinking twice before buying it, then there is some serious issue in the economy,” he said. See Also: <a href="https://www.businessinsider.in/indian-villagers-are-not-buying-clothes-and-cutting-back-on-hair-oil/articleshow/70856804.cms">After biscuits, Indian villagers are cutting down on clothes and hair oil too</a>

Lifebuoy and Lux get cheaper as HUL reduces prices because of low demand

<ul><li>A CARE report did a deep dive into FMCG production decline. It revealed that 22 out of 36 products witnessed a declined in spite of low prices. </li><li>As per the report, items like fruit juices, butter, breads and buns, besan , sauces etc belong to the low-inflation and low-production category. </li><li>Several factors including change in tastes and preferences of the consumers, the report said. </li></ul>Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> made the country roar with laughter when she blamed auto slump on millennial love for Ola and Uber. While she may have exaggerated the example, it is true Indian consumption patterns are changing and they are affecting the economy. Even as the country is slowing down, it is also transforming and the latter part is shrouded. The index of industrial production is at its lowest in five years, growing at 4% as opposed to last year’s 10.5%. Several factors are influencing it and not just slowing incomes and consumer confidence, according to a study by rating agency CARE. Indians shun fruit juices Some of the non-durable goods which showed a massive decline in production were butter, jams, pickles, cakes and pastries and ghee. Consumption and subsequent production of these products remained low in spite of the fact that their prices remained unchanged. Fruit juice production fell by over a massive 50,000 tonnes and spirits by over 60,000. “Lifestyle changes, increased health concerns have prompted consumers to avoid aerated drinks, alcoholic drinks, butter, jam, sauces, fruit juices, resulting in lower production of these products. One can come to a conclusion that price levels alone do not determine the production/demand of any product,” said the CARE report which took a deep dive into FMCG production story. The agency did an average production decline between FY16 and FY17 and FY18 and FY20. As per the study, 22 out of 36 products witnessed a decline in production levels. What’s interesting is that of these 22 items, production/demand of 18 products have declined, despite inflation being low, the agency said. Lifestyle changes affect sales of sauces and pickles As per the report, items like besan (gram flour), sauces etc belong to the low-inflation and low-production category. In the non-foods segment, Indians also seem to be shunning detergent power and cake, toilet soaps and toothpastes – probably for better alternatives. For one, most Indians now use liquid washing soap which is clearly taking over the market from detergent powder. Yet another victim of the changing country is purchase of newspapers and periodicals. Their production is affected by digitisation which is now the preferred mode for news consumption amongst millennials and others. “Several factors including change in tastes and preferences of the consumers, increased awareness among consumers, income levels, changes in the prices of substitutes and complementary goods and consumers’ inflationary expectations in future also affect the demand/production of any good,” the report said. This has been a continuing trend in India over the last few years. Firms like Nestle, Pepsi and Brittania etc have adapted to the growing health consciousness in India by introducing brands and products like Maggi Oats, fruit juices by Pepsi and Coke, and flourless and sugarless versions of biscuits and other snacks. It seems, Indians need more convincing of the benefits that these products offer. If not, the companies will have to adapt further, for the sake of their own health. SEE ALSO <a href="https://www.businessinsider.in/policy/economy/news/income-tax-slabs-for-2020-and-cuts-proposed-by-finance-minister-nirmala-sitharaman-in-next-budget/articleshow/72975148.cms">Income tax cuts and new tax slabs ⁠— here’s how Indian Finance Minister Nirmala Sitharaman wants to make people shop more</a> <a href="https://www.businessinsider.in/business/news/bollywood-star-ayushmann-khurranas-video-complements-data-from-fmcg-majors-like-marico/articleshow/72486152.cms">The spectacular rise in the use of these 3 products tells the story of the evolution of the Indian economy</a> <a href="https://www.businessinsider.in/business/news/retail-inflation-spikes-to-3-yr-high-of-5-54-pc-in-nov-iip-shrinks-for-3rd-month-at-3-8-pc/articleshow/72495282.cms">Retail inflation spikes to 3-yr high of 5.54 pc in Nov, IIP shrinks for 3rd month at 3.8 pc</a>

Your ‘healthy’ diet is making the Indian economy leaner ⁠— but it’s not for you to change

<ul><li>Parle is considering laying off 10,000 employees, thanks to the significant slump in sales, according to an ET report. </li><li>The auto industry has already laid off nearly 350,000 employees in the last four months. </li><li>Rural wages hit the lowest level in the last three years in May 2018. </li></ul>Every economic slowdown hurts the poorer people the most. It’s no different this time. The cash crunch rising out of a slowing economy and rising unemployment is biting budget households in India so bad that they are cutting back on biscuits and that is leading to more job losses at manufacturing plants. India’s largest biscuit maker, Parle is considering laying off 10,000 employees, thanks to the significant slump in sales, <a href="https://economictimes.indiatimes.com/jobs/drop-in-demand-may-force-parle-to-lay-off-up-to-10000-employees/articleshow/70763132.cms?from=mdr">according to</a> an ET report. Parle’s products are mostly consumed by people in the lower rungs of India’s economic pyramid, people in smaller towns and villages. Parle, which makes Parle-G, Monaco and Marie biscuits records an average sale of over ₹10,000 crore annually with over 100,000 employees. “The number of shops stocking these products is the same, but the number of products being sold from these shops is going down due to weakening consumer demand,” Mayank Shah, category heads at <keyword id="235733" type="COMPANY" weightage="20" keywordseo="Parle-Products">Parle Products</keyword> <a href="https://www.nationalheraldindia.com/india/after-britannia-now-parle-hit-by-slowdown-says-gst-responsible-for-it">told </a>National Herald. Higher tax and lower incomes It doesn’t help that biscuits are taxed at 12-18% in the goods and services tax regime. ““These biscuits were taxed at only 12-14 per cent under the previous excise and value added tax regime. Under GST, they are priced at 18%. This forces companies to increase prices, impacting sales,” Shah had added. The slowdown is getting increasingly visible in consumption. It started with trucks followed <a href="https://www.business-standard.com/article/companies/hul-volume-growth-slowest-in-7-quarters-q1-profit-in-line-with-estimates-119072400067_1.html">by car sales</a> and then two wheelers and now it has hit even products <a href="https://www.business-standard.com/article/companies/hul-volume-growth-slowest-in-7-quarters-q1-profit-in-line-with-estimates-119072400067_1.html">of daily consumption</a>. The auto industry has already <a href="https://www.businessinsider.in/indian-auto-manufacturers-have-laid-off-350000-jobs-in-four-months/articleshow/70563890.cms">laid off nearly 350,000 employees </a>in the last four months. Job cuts in companies like Parle will only make the situation worse. People are increasingly worried about the prospects in the coming as signalled by the Reserve Bank of India’s co<a href="https://www.livemint.com/news/india/consumer-confidence-for-the-month-of-june-drops-thomson-reuters-ipsos-survey-1563012458113.html">nsumer confidence index </a>that fell sharply in June 2019 and has stayed near that level since then. The falling biscuit sales only confirm that the country’s rural distress is far from abating. Rural wages hit the lowest level in the last three years in May 2018. “The turmoil is in rural, the turmoil is related to agriculture, so because of that the issues are happening in the value segment, right. So obviously it's affecting every segment but the biggest issue is happening in the value segment because that's what sells in those markets,” Varun Berry, the MD of Brittania said adding that people are shying away from buying <a href="https://www.businessinsider.in/Forget-cars-Indian-consumers-are-wary-of-buying-a-5-biscuit-packet/articleshow/70638256.cms">biscuits packs that are worth a mere ₹5</a>. Richer the better However, the richer Indians may be shelving plans for a new car but they aren’t cutting down on biscuits yet. So, the more expensive packs of biscuits are still selling well and that’s where <keyword id="6359432" type="DOMAIN" weightage="20" keywordseo="britannia">Britannia</keyword> has not had to resort to job cuts yet but Parle has. “With around 65-70% of the portfolio in the premium space, the company plans to introduce variants with protein, gluten free, whole wheat, seed, nuts, etc., and also a niche offering catering to modern trade and e-commerce channels,” said report on consumer sentiment by SBI Caps. See also: <a href="https://www.businessinsider.in/britannia-md-says-consumers-think-twice-before-buying-a-5-biscuit-raises-concerns-about-indian-economy/articleshow/70638256.cms">Forget cars, Indian consumers are wary of buying a ₹5 biscuit packet</a> <a href="https://www.businessinsider.in/kishore-biyanis-big-bazaar-wants-to-take-hindustan-unilever-and-procter-gamble-to-the-cleaners-with-its-own-laundry-brands/articleshow/70173836.cms">Kishore Biyani’s Big Bazaar wants to take Hindustan Unilever and Procter &amp; Gamble to the cleaners, with its own laundry brands</a>

India’s biscuit crisis shows slowdown is hurting the poor more — and job losses are making it worse

<keyword id="59920" type="PERSON" weightage="60" keywordseo="Sacha-Baron-Cohen">Sacha Baron Cohen</keyword> loves to pull a good awards show prank - remember when he <a href="http://www.eonline.com/news/296912/could-sacha-baron-cohen-face-criminal-charges-for-ashing-ryan-seacrest" target="_blank">spilled Kim Jong Il's "ashes" all over Ryan Seacrest</a> on the Oscar's red carpet?
The comedian/actor's latest stunt was just as insensitive.
While accepting the Charlie Chaplin Britannia for Excellence in Comedy award at Saturday's BAFTA-LA Brittania Awards, the actor "tripped" and shoved an elderly woman flying off the stage into the crowd.
Watch the video below:

The wheelchair-bound woman was introduced as "Grace Cullington," described as the oldest-living person to have worked with the Charlie Chaplin. In reality, the woman was a stunt performer.<div class="image-container"><div class="image">Michael Tran/Getty</div></div>
Cullington presented the Charlie Chaplin comedy award to Sacha Baron Cohen, but when he took Chaplin's cane and tripped dancing, the woman went flying. Many in the star-studded crowd didn't initially realize it was a prank as the woman lay lifeless in the audience.
"Grace Cullington is the oldest, no, sorry, was the oldest surviving [Chaplin co-star]. I dedicate my award to her. This is obviously a tragedy. She has upstaged me," said Cohen, going on to quip, "But on the bright side, what a great way to go, giving an award to me. Thus, she'll probably make the Oscars In Memoriam segment."
<div class="image-container"><div class="image">Kevin Winter/Getty</div></div>

Sacha Baron Cohen Pranks BAFTA Awards By 'Killing' Old Woman

The <a href="http://www.businessinsider.com/insiderpicks">Insider Picks</a> team writes about stuff we think you'll like. Business Insider has affiliate partnerships, so we get a share of the revenue from your purchase.<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://flamingo.sjv.io/c/196318/566984/9412?u=https%3A%2F%2Fwww.shopflamingo.com%2F" target="_blank" rel="noopener"></a>Flamingo</div></div></div><ul class="summary-list"><li>The team at men's shaving startup <a href="http://harrys.pxf.io/c/196318/322646/4972?u=https%3A%2F%2Fwww.harrys.com%2Fen%2Fus" target="_blank" rel="noopener">Harry's</a> has launched a new women's brand, <a href="http://flamingo.sjv.io/c/196318/566984/9412?u=https%3A%2F%2Fwww.shopflamingo.com%2F" target="_blank" rel="noopener">Flamingo</a>.</li><li>Like Harry's, Flamingo sells simple, affordable, and effective shaving products, including a <a href="http://flamingo.sjv.io/c/196318/566984/9412?u=https%3A%2F%2Fwww.shopflamingo.com%2Fproducts%2Frazor%2F" target="_blank" rel="noopener">$9 razor</a> and <a href="http://flamingo.sjv.io/c/196318/566984/9412?u=https%3A%2F%2Fwww.shopflamingo.com%2Fproducts%2Fshave-kit%2F" target="_blank" rel="noopener">$16 shave set</a>. It also sells waxing products, acknowledging another hair removal method that many women use instead of or in addition to shaving. </li><li>We tried and loved its shaving tools, which were optimized for the body's natural curves and contours. They gave us a smooth, soft shave. </li></ul>In 2013, direct-to-consumer startup <a href="http://harrys.pxf.io/c/196318/322646/4972?u=https%3A%2F%2Fwww.harrys.com%2Fen%2Fus" target="_blank" rel="noopener">Harry's</a> entered the men's shaving aisle with a set of simple products: <a href="https://www.businessinsider.com/harrys-razors-shave-plan-review-2018-6" target="_blank" rel="noopener">sharp, durable razors and soothing skin care</a>, all sold at a fair price. Seems like an obvious combination of qualities since many men shave every day of every week of every year, but Harry's was the first new brand to fully deliver on strong, long-lasting, and financially sustainable shaving tools. Many women seek the same things out of their shaving tools, and they liked the way Harry's approached this personal care chore so much that since the company's launch, more than a million women have used and enjoyed Harry's products. Still, those within the company knew it could create products better catered towards women's needs - and no, the answer was not to make the razor handle pink. New out of Harry's, Inc. is a women's shaving brand called <a href="http://flamingo.sjv.io/c/196318/566984/9412?u=https%3A%2F%2Fwww.shopflamingo.com%2F" target="_blank" rel="noopener">Flamingo</a>, which is guided by the same vision (and even uses the same factory) that has made Harry's a hit among men. Read more: <a href="https://www.businessinsider.com/harrys-razors-shave-plan-review-2018-6" target="_blank" rel="noopener">I shaved my 4-day beard with a Harry's razor to see if it's worth buying - now I get why they're so hyped up</a><div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://flamingo.sjv.io/c/196318/566984/9412?u=https%3A%2F%2Fwww.shopflamingo.com%2Fproducts%2Fshave-kit%2F" target="_blank" rel="noopener"></a>Flamingo</div></div></div><h3>Why you should trust <a href="http://flamingo.sjv.io/c/196318/566984/9412?u=https%3A%2F%2Fwww.shopflamingo.com%2F" target="_blank" rel="noopener">Flamingo</a>:</h3>Flamingo is led by two Harry's veterans who have been with the company since its start: Allie Melnick (brand strategy and VP of new growth), and Brittania Boey (SVP of research, development, and design). This expertise has allowed Flamingo to hit the ground running with a focused, thoughtful product line and distinctive brand look. For shaving, it currently sells a <a href="http://flamingo.sjv.io/c/196318/566984/9412?u=https%3A%2F%2Fwww.shopflamingo.com%2Fproducts%2Frazor%2F" target="_blank" rel="noopener">razor</a> ($9), <a href="http://flamingo.sjv.io/c/196318/566984/9412?u=https%3A%2F%2Fwww.shopflamingo.com%2Fproducts%2Fblades%2F" target="_blank" rel="noopener">blade cartridges</a> (four for $9), <a href="http://flamingo.sjv.io/c/196318/566984/9412?u=https%3A%2F%2Fwww.shopflamingo.com%2Fproducts%2Ffoaming-shave-gel%2F" target="_blank" rel="noopener">foaming shave gel</a> ($5), and <a href="http://flamingo.sjv.io/c/196318/566984/9412?u=https%3A%2F%2Fwww.shopflamingo.com%2Fproducts%2Fbody-lotion%2F" target="_blank" rel="noopener">body lotion</a> ($9) a la carte. The <a href="http://flamingo.sjv.io/c/196318/566984/9412?u=https%3A%2F%2Fwww.shopflamingo.com%2Fproducts%2Fshave-kit%2F" target="_blank" rel="noopener">shave set</a> ($16) throws the razor, smaller versions of the shave gel and body lotion, an extra blade cartridge, and a shower hook into a reusable, travel-friendly pouch. All of its razor blades are manufactured in the same Harry's factory in Germany, so you can expect ultra-sharp, high quality blades. However, design features like a hydrating aloe vera strip, rounded edges, and a flexible hinge that allows you to smoothly bring the razor along contours and curves make it different from the men's razors. Since most women shave in the shower, the razor handle has an ergonomic, textured rubber grip that won't slip out of your hands. If you're already subscribed to Harry's, you can actually use its blade cartridges on your Flamingo razor handle. Read more: <a href="https://www.businessinsider.com/billie-razors-review" target="_blank" rel="noopener">I tried the buzzy new Billie razor for women - and now I actually look forward to shaving my legs</a><div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://flamingo.sjv.io/c/196318/566984/9412?u=https%3A%2F%2Fwww.shopflamingo.com%2F" target="_blank" rel="noopener"></a>Flamingo</div></div></div><h3>What it's like to shave with <a href="http://flamingo.sjv.io/c/196318/566984/9412?u=https%3A%2F%2Fwww.shopflamingo.com%2F" target="_blank" rel="noopener">Flamingo</a>:</h3>The razor handles come in different colors, Taro and Rose Gold, Mint and Gold, and Pomelo and Silver, which give them some personality, but this is certainly not Flamingo's main selling point. I don't care what my razor looks like as long it gets the job done and does it well every single time, and my experience with Flamingo involved just that. I have a pretty matter-of-fact attitude towards shaving. It's annoying and time-consuming, but I've been doing it long enough to quietly nod and accept my fate every time I need to break my razor out. Admittedly, it was exciting to try a new razor, and unlike with my past razors, the excitement didn't die down with each subsequent use, because my Flamingo razor continued to do a pain-free, efficient job through multiple shaving sessions.I loved using it with the rich and thick foaming shave gel that stayed on my skin instead of sliding right off and left it feeling very smooth. Insider Picks reporters <a href="https://www.businessinsider.com/author/mara-leighton" target="_blank" rel="noopener">Mara Leighton</a> and <a href="https://www.businessinsider.com/author/remi-rosmarin" target="_blank" rel="noopener">Remi Rosmarin</a> agreed, calling the cream "luxe." It contains aloe vera and conditioning emollients, plus it's dermatologist-tested and free from parabens, sulfates, and mineral oil. A nice detail I appreciated about the container construction itself is that it won't leave rust rings in your shower or tub. I don't shave that consistently, which means that when I do, there's usually a lot of hair to get through. My Flamingo razor felt gentle enough on my skin that at times I wondered if it was actually doing anything, before I pulled it away and confirmed it was doing a lot. While I still can't say the process of shaving is enjoyable, using Flamingo's tools made it more enjoyable than usual. I finished shaving in half the time and with cleaner, smoother results than with other razors. <div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://flamingo.sjv.io/c/196318/566984/9412?u=https%3A%2F%2Fwww.shopflamingo.com%2F" target="_blank" rel="noopener"></a>Flamingo</div></div></div><h3>Other reasons to let <a href="http://flamingo.sjv.io/c/196318/566984/9412?u=https%3A%2F%2Fwww.shopflamingo.com%2F" target="_blank" rel="noopener">Flamingo</a> handle your hair care: </h3>To address another common hair removal method among women, Flamingo also sells $10 <a href="http://flamingo.sjv.io/c/196318/566984/9412?u=https%3A%2F%2Fwww.shopflamingo.com%2Fproducts%2Fthe-face-wax-kit%2F" target="_blank" rel="noopener">face wax</a> and <a href="http://flamingo.sjv.io/c/196318/566984/9412?u=https%3A%2F%2Fwww.shopflamingo.com%2Fproducts%2Fthe-body-wax-kit%2F" target="_blank" rel="noopener">body wax kits</a>, which contain wax strips and post-wax cloths. The face wax kit includes an additional calming serum. At the time of this writing, we weren't able to test the wax products since our hair wasn't long enough, but we plan on writing about the experience when we can. This decision to offer hair removal products other than razors was smart on the brand's part and opens up its customer base to women who exclusively wax or switch between shaving and waxing. Shaving isn't fun, and it never will be, but Flamingo's easy-to-use and affordable tools get us one step closer to a seamless shave. Supported by the <a href="http://harrys.pxf.io/c/196318/322646/4972?u=https%3A%2F%2Fwww.harrys.com%2Fen%2Fus" target="_blank" rel="noopener">Harry's</a> name, it shares commonalities in blade technology and overall mission, while gearing itself towards women's specific shaving needs. Unlike Harry's (and its close competitor <a href="http://www.pntrac.com/t/TUJGR0dFS0JGSEhLR01CRk1HSklF?url=https%3A%2F%2Fmybillie.com%2F" target="_blank" rel="noopener">Billie</a>), it doesn't sell subscription plans, so you have the freedom to restock shaving and waxing products whenever you need them. <h3><a href="http://flamingo.sjv.io/c/196318/566984/9412?u=https%3A%2F%2Fwww.shopflamingo.com%2Fproducts%2Fshave-kit%2F" target="_blank" rel="noopener">Shop the Shave Set for $16 at Flamingo here</a></h3><h3><a href="http://flamingo.sjv.io/c/196318/566984/9412?u=https%3A%2F%2Fwww.shopflamingo.com%2F" target="_blank" rel="noopener">Shop all shaving products at Flamingo here</a></h3><a href="http://e.businessinsider.com/join/ci/insider-picks">Subscribe to our newsletter.</a> Find all the best offers at our <a href="https://coupons.businessinsider.com/">Coupons page</a>. Disclosure: This post is brought to you by the <a href="http://www.businessinsider.com/insiderpicks">Insider Picks</a> team. We highlight products and services you might find interesting. If you buy them, we get a small share of the revenue from the sale from our commerce partners. We frequently receive products free of charge from manufacturers to test. This does not drive our decision as to whether or not a product is featured or recommended. We operate independently from our advertising sales team. We welcome your feedback. Email us at insiderpicks@businessinsider.com.

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