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Encouraged by volume growth, margin improvement and recovery in rural sales, India's top fast-moving consumer goods (FMCG) companies are now back to their normal growth cycle as they step up investments as well as spending on advertising and marketing. <keyword id="84065" type="General" weightage="20" keywordseo="fmcg-companies" source="Orion">FMCG companies</keyword> are chasing volume growth again after a gap of a few quarters, offering higher grammage and price cuts thanks to inflationary pressures softening on key raw materials for everything from soaps to food items. Hindustan Unilever (HUL), Dabur, Marico, Godrej Consumer Products, ITC, Tata Consumer Products and Nestle reported volume recovery in the March quarter and said they expect a gradual pickup in consumption in FY24. "The prospects of a sustained recovery have strengthened. After five quarters of volume decline, the sector has posted volume growth," Marico MD and CEO Saugata Gupta said in the company's earnings conference call. "Urban consumption has been steady while rural is showing some convincing signs of having bottomed out." Foods continue to drive growth for the sector, while the home and personal care segment also entered positive territory after an extended slowdown. Marico, which owns popular brands like Saffola, Parachute and Livon, reported an 18.7 per cent increase in its consolidated net profit to Rs 305 crore for the fourth quarter ended March 2023 while sales rose 3.65 per cent to Rs 2,240 crore, driven by single-digit volume growth and moderation in commodity prices. HUL said rural areas have shown improvement with higher value growth sequentially. While HUL's volumes continue to fall, the extent of decline has reduced versus last quarter. "The slowdown in the FMCG market is bottoming out. This improvement was led by volumes, which have turned flat in this quarter, versus a mid-single-digit decline in the December quarter," said HUL CFO Ritesh Tiwari in its earnings call. The makers of popular brands such as Rin, Lux, Surf Excel and Pond's said it expects the price-volume growth to rebalance further. "We expect volumes to recover gradually due to high levels of cumulative inflation and the fact that consumption habits typically recover with a lag," he said. For the March quarter, HUL reported an increase of 12.74 per cent in its consolidated net profit to Rs 2,601 crore. Net sales rose 10.83 per cent to Rs 14,926 crore. However, HUL warned the near-term operating environment is likely to remain volatile due to global slowdown risk and uncertainty related to weather phenomena like El Nino and heatwaves. Abneesh Roy, Nuvama Group Executive Director for Institutional Equities, said the outlook for the <keyword id="495979" type="General" weightage="20" keywordseo="fmcg-industry" source="Orion">FMCG industry</keyword> was "positive" with volume growth and improvement in margins for most companies in FY24. "As raw material prices are cooling off, companies shall start paring prices via grammage increase or gradual price reductions. Price growth shall ease while volume growth will improve," he said. Roy also cautioned about the impact of El Nino and the "aggression" from billionaire Mukesh Ambani-led Reliance Industries Ltd, a known disrupter, which aims to be a big player in the USD 110-billion FMCG segment. Meanwhile, Godrej Consumer reported an 11.47 per cent increase in its India revenue to Rs 1,822.92 crore in the March quarter. This was led by volume growth of 11 per cent. Its home care segment, which consists of household insecticides and air fresheners, grew 14 per cent and 17 per cent, respectively. "We expect to build on the current momentum and deliver volume-led growth along with upfront marketing investments and improvement in profitability," said its Managing Director and CEO Sudhir Sitapati. Britannia Executive Vice-Chairman and Managing Director Varun Berry also expressed optimism. "Volume growth will be certainly much better than this year," he said. On commodity prices, Berry said there is deflation in prices of palm oil, laminates and corrugated material for packing but flour and milk prices are soaring. "There are certain brands and certain packs where we have already initiated price reductions or promotions," he said. In the March quarter, Britannia reported a 47.53 per cent jump in consolidated net profit to Rs 557.60 crore. Its revenue from operations rose 10.93 per cent to Rs 3,892.02. Similarly, Dabur reported volume growth of 11 per cent during the March quarter and 14 per cent for FY23. Its quarterly net profit was Rs 292.76 crore and revenue from operations stood at Rs 2,677.8 crore. "Despite near-term concerns around inflationary pressures, we plan to accelerate the growth momentum by continuing to invest in brand building, innovation, and capabilities that will drive growth," said Dabur India CEO Mohit Malhotra. Other companies also recorded growth. ITC's revenue from the FMCG segment rose 19.34 per cent to Rs 4,951.17 crore from Rs 4,148.62 crore while EBITDA jumped 76 per cent. Nestle, the maker of Maggi, Kitkat and Nescafe, reported an increase of 24.69 per cent in its net profit to Rs 736.64 crore in the March quarter. Sales rose 20.43 per cent to Rs 4,808.40 crore. Tata Consumer reported a 21.12 per cent rise in its consolidated net profit to Rs 289.56 crore. Its revenue from operations was up 13.96 per cent at Rs 3,618.73 crore. Tata Consumer said it recorded growth in the India beverages business and food. It had a "strong margin growth and strong topline growth driven both by volume and price," the company said in its earnings call. "We have started seeing volume growth coming back. The impact of inflation and monetary tightening on economic growth and demand seems to be slowing down, but I would keep my fingers crossed and monitor it closely," said Tata Consumer MD and CEO Sunil D'Souza. "In the near term, we are seeing stability." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/zomato-net-loss-narrows-to-188-crore-in-q4-revenue-rises-70-yoy/articleshow/100358894.cms">Zomato net loss narrows to ₹188 crore in Q4, revenue rises 70% YoY</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mankind-pharma-pnb-among-stocks-to-become-largecap-from-midcap-mutibagger-rail-vikas-nigam-to-turn-midcap-from-smallcap/articleshow/100356527.cms">Mankind Pharma, PNB among stocks to become largecap from midcap; mutibagger Rail Vikas Nigam to turn midcap from smallcap</a>

FMCG makers expect sustained recovery in volume and margins with price reduction in FY24

<keyword id="6359861" type="UNKNOWN" weightage="20" keywordseo="Veteran">Veteran</keyword> industrialist Adi Godrej will step down as chairman as well as from the board of directors of <keyword id="167591" type="COMPANY" weightage="20" keywordseo="Godrej-Industries-Ltd">Godrej Industries Ltd</keyword>, passing on the baton to his younger brother Nadir Godrej, effective October 1, according to a company statement. The 79-year-old industrialist will continue to serve as chairman of the <keyword id="133008" type="COMPANY" weightage="20" keywordseo="Godrej-group">Godrej Group</keyword> and chairman emeritus of GIL, said the statement. "Nadir Godrej, who is currently managing director of GIL, will take over as chairman and managing director of the company," it added. GIL is a holding company of the Godrej Group. It has significant interests in consumer goods, real estate, agriculture, chemicals and financial services through its subsidiary and associate companies, across 18 countries. Adi Godrej has served GIL for almost four decades. "It has been a privilege to serve <keyword id="113571" type="CITY" weightage="20" keywordseo="Godrej-Industries">Godrej Industries</keyword> for over four decades, during which we have delivered strong results and transformed our company," said Adi Godrej. He thanked the board for its support and guidance, his team members, business partners, shareholders, investors, and communities, for their continued partnership. "I am very confident that our best years are ahead of us, and I look forward to Nadir and our team achieving our exciting aspirations," Adi Godrej. In the statement, Nadir Godrej thanked his brother for his vision and leadership, which shaped the company. "On behalf of our team at Godrej Industries and our board, I want to thank our chairman for his vision, values and exceptional leadership that has guided and shaped our company. "Our leadership team is committed to building forward on these foundations; continuing to serve our people and communities, and creating long-term value for all our stakeholders," said Nadir Godrej said. On August 4, Adi Godrej announced to step down from the board of group's FMCG arm, Godrej Consumer Products Ltd (GCPL), effective next month. In GCPL, he already passed on the baton to his younger daughter Nisaba Godrej in 2017 as chairman. But, he will remain as chairman emeritus of the FMCG firm. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/india-now-has-four-edtech-unicorns-byju-unacademy-eruditis-upgrad/articleshow/85300757.cms">From Byju’s to Eruditus — India now has four edtech unicorns, thanks to a $4 billion funding inflow since 2020</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/realme-book-slim-laptop-launching-in-india-on-august-18-check-expected-price-and-specifications/articleshow/85299743.cms">Realme Book Slim laptop launching in India on August 18 – specs, expected price and everything we know so far</a>

Adi Godrej to step down as Godrej Industries' chairman and board of directors

<keyword id="45432" type="General" weightage="80" keywordseo="godrej-properties" source="Orion">Godrej Properties</keyword> Ltd on Friday said it has acquired legendary film actor, director, and producer <keyword id="6358412" type="General" weightage="80" keywordseo="raj-kapoor" source="Orion">Raj Kapoor</keyword>'s Bungalow at Chembur in <keyword id="6358070" type="General" weightage="50" keywordseo="mumbai" source="Orion">Mumbai</keyword> to develop a luxury housing project. The land was purchased from the <keyword id="53" type="General" weightage="100" keywordseo="kapoor" source="Orion">Kapoor</keyword> family, legal heirs of Raj Kapoor, the company said in a regulatory filing. The deal value has not been disclosed. The site is located at Deonar Farm Road, Chembur, Mumbai, adjacent to <keyword id="6356045" type="General" weightage="50" keywordseo="tata-institute-of-social-sciences" source="Orion">Tata Institute of Social Sciences</keyword> (TISS). In May 2019, Godrej Properties had acquired R K Studios in Chembur from the Kapoor family to develop a premium mixed-use project Godrej RKS. The project is expected to be delivered this year. Gaurav Pandey, MD and CEO, Godrej Properties, said, "We are pleased to add this iconic project to our portfolio and are grateful to the Kapoor family for entrusting us with this opportunity." The demand for premium developments has been strong over the past few years, he said. This project will allow us to further strengthen our presence in Chembur, Pandey said. <keyword id="1562" type="General" weightage="50" keywordseo="randhir-kapoor" source="Orion">Randhir Kapoor</keyword> said, "This residential property in Chembur has been of great emotional and historical significance to our family. We are happy to once again associate with Godrej Properties to take forward this rich legacy for the next phase of development for this location," Godrej Properties, which is part of the business conglomerate <keyword id="133008" type="General" weightage="50" keywordseo="godrej-group" source="Orion">Godrej Group</keyword>, is one of the leading real estate developers in the country. It has a significant presence in Mumbai Metropolitan Region (MMR), Delhi-NCR, <keyword id="2094" type="General" weightage="50" keywordseo="pune" source="Orion">Pune</keyword> and Bengaluru. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indigo-plans-flights-to-nairobi-jakarta-some-central-asian-destinations-ceo-pieter-elbers/articleshow/98000625.cms">IndiGo plans flights to Nairobi, Jakarta, some central Asian destinations: CEO Pieter Elbers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/fashion-industry-needs-to-move-further-and-faster-to-meet-1-5c-target-prove-they-care-about-real-change-un-expert/articleshow/97987975.cms">Fashion industry needs to move "further" and "faster" to meet 1.5°C target, prove they care about real change: UN expert</a>

Godrej Properties acquires Raj Kapoor's Bungalow in Mumbai

<ul><li>Indian stock market indices opened in green on Thursday.</li><li>The Sensex was trading 0.45% higher, while the Nifty50 was up 0.37%. </li><li>These are the top stocks that are buzzing on D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian benchmark stock index, Sensex advanced over 175 points in early trade on Thursday, led by financial stocks and fuelled by foreign funds ahead of the expiry of monthly derivative contracts. The Sensex was trading 0.45% higher, while the Nifty50 was up 0.37%. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Housing Development Finance Corp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shree Cement </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td></tr></tbody></table>*as of August 27 10:40 am These are the top stocks that are buzzing in trade today: ICICI Bank gained over a percent ICICI Bank gained over a percent after the bank said it would sell up to 6.4 million shares (about 2% of the company) of its broking subsidiary ICICI Securities. The market value of 2% stake would be about ₹300 crore. With overall credit demand languishing under the weight of the pandemic, ICICI Bank has been cashing out of its investments. In <a href="https://www.businessinsider.in/finance/banks/news/just-like-sbi-icici-bank-has-created-a-cash-cushion-in-case-bad-loans-rise/articleshow/77140214.cms">June 2020, the country's second largest private bank sold</a> stake in <keyword id="6468827" type="COMPANY" weightage="20" keywordseo="ICICI-Prudential-Life-Insurance">ICICI Prudential Life Insurance</keyword> and ICICI Lombard to raise around ₹3,090 crore. <div type="Article" hostid="261" msid="77776199" title="ICICI Bank's share price is expected to surge as much as 34% in the coming year — despite having more loans under moratorium than other lenders" mstype="2" mssubtype="0"></div> Mahindra &amp; Mahindra Limited shares up over 1% Mahindra &amp; Mahindra share price gained over a percent after the company said it has entered into a memorandum of understanding (MoU) with Israel-based e-mobility technology company REE Automotive to explore development and manufacturing of commercial electric vehicles for global markets. Reports suggest that the joint venture will produce up to 250,000 vehicles in the first few years. More importantly, the partnership will enhance Mahindra Group's capabilities in producing electric vehicles. <div type="Article" hostid="261" msid="77389244" title="M&amp;M’s farm equipment segment may have fueled investors hopes — but analysts aren’t too optimistic about it" mstype="2" mssubtype="0"></div> Sunteck, Godrej Properties and Oberoi Realty and other real estate stocks zoom Sunteck zooms 8%, Godrej Properties gains 5% and Oberoi Realty up over 6% after the Maharashtra government decided to slash stamp duty on sale deed documents by 3% from September 1 to December 31, 2020, and by 2% from January 1, 2021, to March 31 2021. <div type="Article" hostid="261" msid="77757126" title="Indians are borrowing heavily against gold⁠— but it may have been wiser to borrow money to buy the precious metal instead of homes" mstype="2" mssubtype="0"></div> Future Enterprises hit upper circuit Future Enterprises shares hit a 5% upper circuit set by the stock-exchanges after the company said it is considering raising funds through the issuance of bonds. The cash-strapped Future Group <a href="https://www.business-standard.com/article/companies/future-enterprises-board-likely-to-discuss-merger-plan-on-saturday-120082100066_1.html?1597982924">reportedly</a> may merge three of its group companies before selling 50% stake in the combined entity to <keyword id="6355199" type="COMPANY" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>. This has led to a rally in other group stocks as well, like Future Retail (up 7%), Future Consumer (up 4.3%), and <keyword id="1854044" type="PERSON" weightage="20" keywordseo="Future-Lifestyle">Future Lifestyle</keyword> (up 5%). HAL tanks 11% HAL shares tanked 11% after news surfaced that the Union Government is selling 15% of its equity stake in the state-owned Hindustan Aeronautics Ltd (HAL) at ₹1,001 per share to raise about ₹5,000 crore through an offer for sale (OFS). This government owned defence equipment maker has been a bad investment for shareholders since its listing over 2 years ago. While the government raised a little over ₹4,000 crore from the IPO, the shares have remained below the issue price for nearly the entire time. It did cross the threshold earlier this month, for the first time since the listing, but the exuberance lasted barely a week. Auto stocks tanked despite the expected GST rate revision <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Top losers on Nifty50 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth % </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.26% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.13% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.13% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.56% </td></tr></tbody></table> According to a statement issued by <keyword id="6363932" type="COMPANY" weightage="20" keywordseo="confederation-of-indian-industry">Confederation of Indian Industry</keyword>, Finance Minister Nirmala Sitharaman hinted at a cut in goods and services tax (GST) rate from 28% to 18%. The proposal is expected to be discussed at the 41st GST Council meeting at 11 am today via video conferencing. Allcargo Logistics gains about a percent Allcargo Logistics shares gained nearly a percent during the early trade hours on August 27. The board of directors of Allcargo Logistics is slated to meet today to consider and approve the voluntary delisting of shares. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-in-trade-icici-bank-oberoi-realty-godrej-properties-hal-infosys-mm-itc-rossari-biotech-allcargo-and-more/articleshow/77775215.cms" data-type="tilCustomLink">Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&amp;M, ITC, Rossari Biotech, Allcargo and more</a> <a href="https://www.businessinsider.in/defense/news/china-fires-two-missiles-into-the-south-china-sea-and-asian-markets-feel-the-blow/articleshow/77777358.cms" data-type="tilCustomLink">China fires two missiles into the South China Sea and Asian markets feel the blow</a>

Top stock movers — Future Enterprises, HAL, Suntek, Oberoi Realty, M&M, ICICI Bank, Maruti Suzuki, Bajaj Auto and more

New Delhi, Feb 13 () Godrej Industries Ltd on Thursday reported a consolidated net profit of Rs 216.32 crore in the third quarter ended December 31, 2019. The company, which announced reappointment of Nadir Godrej as its managing director for a period of three years, had posted a consolidated net profit of Rs 156.42 crore in the year-ago quarter. Revenue from operations during the third quarter this fiscal stood at Rs 2,696.31 crore. It was Rs 2,417.58 crore in the same period a year ago. The company said during the previous year, one of its subsidiaries had acquired control of Godrej Tyson Foods Ltd and Godrej Maxximilk Pvt Ltd and they became subsidiaries with effect from March 27, 2019. Accordingly consolidated financial results of the current quarter and nine months ended December 31, 2019 include results of these acquired firms. Hence, the consolidated financial results of the current quarter and nine months ended December 31, 2019 are not comparable with the financial results of the corresponding previous periods, the company said. On Godrej's reappointment, the company said the Nomination and Remuneration Committee of the Board of Directors had recommended the proposal. The board approved the re-appointment of managing director of the company for a further period of three years commencing from April 1, 2020 upto March 31, 2023 subject to approval of the shareholders. Godrej Indistries also said its board has approved investment of up to Rs 5OO crore by way of subscription or purchase of securities or otherwise in Godrej Agrovet Ltd, its subsidiary company subject to shareholder approval. RKL SHWSHW

Godrej Industries Q3 net at Rs 216.32 cr

<ul><li><keyword id="1107" type="General" weightage="20" keywordseo="sunil-kataria" source="Orion">Sunil Kataria</keyword>, Chief Executive Officer, India and SAARC, <keyword id="140888" type="General" weightage="20" keywordseo="godrej-consumer-products" source="Orion">Godrej Consumer Products</keyword> Limited has been re-elected as the Chairman of the <keyword id="32717" type="General" weightage="20" keywordseo="indian-society-of-advertisers" source="Orion">Indian Society of Advertisers</keyword>.</li><li>Sunil has led the Society over the past five years.</li><li>The <keyword id="222666" type="General" weightage="80" keywordseo="isa" source="Orion">ISA</keyword> played a significant role in formation of BARC and is closely partnering with it towards advertisers getting robust and credible data.</li></ul>The newly elected Executive Council of the Indian Society of Advertisers (ISA) has elected Sunil Kataria, Chief Executive Officer, India and SAARC, Godrej Consumer Products Limited as the Chairman of the ISA. Sunil has led the Society over the past five years to greater heights garnering support from the fellow Executive Council members, the ISA members and other industry bodies. On his election for the sixth consecutive term as the Chairman of the ISA, Sunil said, “In our journey towards creating greater value proposition for the ISA in the industry, the focus will be to make this unique body even stronger in the future to provide value added support to our members for the new normal and beyond. With the digital advertising having ascended as second only to TV and growing even further, our endeavour this year would be take forward our efforts in the area of digital measurement. The ISA’s plans to work with BARC to create a Multimedia Measurement are progressing in good shape. We heartily thank all fraternity organizations for their strong partnering and this will surely help us scale newer heights. I also acknowledge the continuing support by the ISA members in all our endeavours.” He further added, “In particular reference to the Covid-19 pandemic, I am glad to acknowledge the cooperation of all our members, industry associates, vendors and ISA Secretariat team in staying safe, getting vaccinated and adhering to directives by health authorities and governments”. ISA is the apex national body as a strong voice to advertisers over the last 69 years. Its cross-sector advertiser members contribute to more than half of the annual national non-governmental ad spends. ISA, which is a founder member of the World Federation of Advertisers (WFA) and one of the founders of ASCI, continues to partner with other industry bodies that connect to the advertisers. The ISA played a significant role in formation of BARC and is closely partnering with it towards advertisers getting robust and credible data. Other members of the Executive Council are: Atul Agrawal, Senior Vice President – Corporate Brand and Marketing, Tata Services Limited Narendra Ambwani, Director, Agro Tech Foods Limited Tarun G. Arora, Chief Executive Officer &amp; Whole Time Director, Zydus Wellness Limited Subhadip Dutta Choudhury, Chief Executive Officer, Hawkins Cookers Limited Paulomi Dhawan, Independent Director, Whistling Woods International Neil George, Managing Director, Nivea India Pvt Limited Girish Kalyanaraman, Vice President, Brand Operations, Procter &amp; Gamble Hygiene and Health Care Limited Chandru Kalro, Managing Director, TTK Prestige Limited Devraj Lahiri, Chief Operating Officer - India Tobacco Division, ITC Limited Angshu Mallick, Managing Director &amp; CEO, Adani Wilmar Limited Bharat V. Patel, Independent Director, Aditya Birla Sun Life AMC Limited Anuj Poddar, Executive Director, Bajaj Electricals Limited Ramakrishnan Ramamurthi, Advisor J. K. Enterprises Ram Raghavan, Managing Director, Colgate-Palmolive (India) Limited <keyword id="2907402" type="General" weightage="20" keywordseo="gauravjeet-singh" source="Orion">Gauravjeet Singh</keyword>, General Manager – Media Services (South Asia) Media Dept, Hindustan Unilever Limited Shashank Srivastava, Senior Executive Director (Marketing &amp; Sales), Maruti Suzuki India Limited

Sunil Kataria elected as the Chairman of The Indian Society of Advertisers for the sixth consecutive term

<ul><li>India has decided to open up its inventory of <keyword id="6430693" type="UNKNOWN" weightage="20" keywordseo="Satellite-Data">satellite data</keyword> to Indian companies.</li><li>Bigwigs like the <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> Group, <keyword id="6367820" type="ORGANIZATION" weightage="20" keywordseo="adani-group">Adani Group</keyword> and the <keyword id="133008" type="COMPANY" weightage="20" keywordseo="Godrej-group">Godrej Group</keyword> — companies wanting to get into the space sector using data — also have a lot to gain.</li><li>However, the frequency and speed at which these images are captured still leave a lot to be desired. </li></ul>The Indian government has announced that it’s opening up its treasure trove of geospatial data and services, including maps, to all Indian entities. “What is readily available globally does not need to be regulated,” said the country’s Department of Science and Technology, in a <a href="https://pib.gov.in/PressReleseDetail.aspx?PRID=1698073&amp;fbclid=IwAR2mym1Rh_bFaTBao_wAAlOyksKlrQtJk8qCPvL5eQ9GCv2sAQjerfRCgAM">press statement.</a> The move will not only benefit India's burgeoning startup ecosystem, but also bigwigs like <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s Reliance Group, <keyword id="111343" type="PERSON" weightage="20" keywordseo="Gautam-Adani">Gautam Adani</keyword>’s Adani Group and <keyword id="6364063" type="DEFINITION" weightage="20" keywordseo="Adi-Godrej">Adi Godrej</keyword>’s Godrej Group. According to Mumbai-based think tank Gateway House’s Chaitanya Giri, big conglomerates that have not classically been in the space industry — but have a foothold in the FMCG and agriculture — have been wanting to get into the space sector by using data. “They want to use precision agricultural techniques using <keyword id="21340" type="PERSON" weightage="20" keywordseo="Satellite-images">satellite images</keyword> to increase their output or to maintain the efficacy of their crops because most of them have benefitted from contractual farming, which is now a ‘hot topic’ in India,” Giri told Business Insider referring the recent the <a href="https://www.businessinsider.in/india/news/farmers-plan-to-block-delhi-jaipur-and-delhi-agra-highways-starting-december-12-and-start-nationwide-protests-on-december-14/articleshow/79644167.cms">farmer’s protests against the India’s government’s new farm laws</a>. Reliance, on the other hand, asserted in January that it has ‘<a href="https://www.businessinsider.in/business/corporates/news/reliance-says-it-has-absolutely-no-plan-to-enter-contract-farming-urges-government-to-stop-vandalism-amidst-ongoing-farmers-protests/articleshow/80091733.cms">absolutely no plans</a>’ to enter contract farming. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[]]></cdata></div> Insurance companies also have something to gain In addition to the Ambani’s and Adani’s of the country, insurance companies could also be potential beneficiaries of satellite data being available for use in India. In professional agriculture in foreign countries, you can actually see the amount of pests through satellite imaging. You can identify where the pests are, where they are not and where they may be headed. And if crops do suffer any kind of damage, crop insurance can be claimed on the basis of satellite images. “Canadian insurance companies have collaborated with satellite imagery suppliers to provide imagery for any person who’s crop has been damaged. This can lead to a lot of new algorithms and methods to quantify the extent of damage and depending on the extent of damage — quantify the premiums and payouts,” explained Giri. What’s the catch? While these companies are looking to get into the sector, the frequency and speed at which these images are captured still leave a lot to be desired. “The concept of setting up small satellites in large numbers is yet to start at <keyword id="6358064" type="UNKNOWN" weightage="20" keywordseo="isro">ISRO</keyword> [Indian Space Research Organisation]. So that’s where the constellation concept is still in its nascent stages,” explained Pawan Kumar Chandana, the CEO and co-founder of Skyroot Aerospace. “That’s where rapid, very high frequency images of Earth are still not yet available.” India needs to open up its satellite images for startups regardless Regardless of who stands to benefit from the treasure trove of satellite data that the Indian government has now put out in the public domain, startups are happy. “This announcement reaffirms our unique capability in all kinds of high definition mapping from drones, aircrafts, satellites, mobile, terrestrial to underground — where the company has done pioneering work in India and abroad,” said Sajid Malik, the chairman and managing director of Genesys International, which claims to be the largest 3D mapping company in India. The biggest challenge about maps has always been getting the spatial data and the biggest source for spatial data is satellite images. The new guidelines remove the barrier of red-tape and getting permissions — giving <keyword id="982553" type="PERSON" weightage="20" keywordseo="Indian-startups">Indian startups</keyword> and companies a leg up. “If they tie-up with ISRO and others, they will get access to a huge database and technology on a continuous basis and India will have its own company that will have these maps and won’t have to depend on Google Maps,” said TV Mohanas Pai, former director of Infosys and current chairman of Manipal Global Education, in a statement. But it’s not just mapping companies that have something to gain. Anyone working in logistics, transportation, aerial vehicles, and other areas where mapping is the foundation for other applications also has something to celebrate. According to Giri, Indian startups are being approached by European incubators and Australian venture capitalists. While it’s a welcome sign, it also raises an alarm. “You have startups that are working in critical areas, critical technologies — you really don’t want them to be bought out by nefarious players,” he explained. SEE ALSO: <a href="https://www.businessinsider.in/science/research/news/worlds-oldest-beer-factory-discovered-in-egypt-was-producing-50000-pints-at-a-time/articleshow/80920087.cms">Drink like an Egyptian: Historians discover the world’s oldest beer factory in Egypt</a> <a href="https://www.businessinsider.in/defense/news/list-of-10-latest-defence-deals-that-india-has-signed-in-the-last-six-months/slidelist/80926534.cms">List of 10 latest defence deals that India has signed in the last six months</a> <a href="https://www.businessinsider.in/finance/banks/news/bank-of-india-central-bank-of-india-indian-overseas-bank-and-bank-of-maharashtra-rally-by-over-10-on-hopes-of-privatisation/articleshow/80971254.cms">Bank of India, Central Bank of India, Indian Overseas Bank, and Bank of Maharashtra rally by over 10% on hopes of privatisation</a>

From Ambani, Adani to Godrej — India's treasure trove of satellite data goes beyond helping startups

<ul><li>Summer is a peak season for appliances. However, this year was exceptional. </li><li>Swati Rathi, Head – Marketing, <keyword id="141771" type="COMPANY" weightage="20" keywordseo="Godrej-Appliances">Godrej Appliances</keyword> tells us how summer plays an important role for their business, challenges the brand faced during the nationwide lockdown period, its plan for unlocking 1.0, and a lot more. </li></ul>There are a few things that define summer for Indian markets. It is the period when you see ‘Chubhti Jalti’ jingle come back on television, Rooh Afza in retail stores and cartons of mangoes in your home. Summer also sees an increase in marketing spends by cold beverages, ice cream brands, masalas, sun screens, travel and electronics, as it is a peak period for their businesses. However, considering the complete shutdown of all store outlets, this summer was quite unusual for these categories. For Godrej Appliances, the first quarter of every year contributes to as much as a third of their annual revenue. While this quarter was challenging for the giant, it is hoping to revive its business in the upcoming months of unlocking. With the nationwide lockdown, Godrej Appliances soon realised complete digitalisation was the way to survive. It started empowering its trade partners to address all consumer queries online. So far, it has managed to reach out to 5,000 trade partners to explain to them the changing dynamics of industry, the consumer and how they need to prepare themselves. As a result, during the lockdown, Godrej Appliances resolved more than 15,000 service requests digitally. We caught up with Swati Rathi, Head – Marketing, Godrej Appliances to further understand their unlocking plan, how they have helped their employees cope up with the current situation of uncertainty, changing future of the retail industry and importance of adapting to the new digital world. Excerpts: Q. How has the last month been for you? How have you observed the consumer behaviour changing? From a business perspective, summer was largely a wipe out for appliance industry which derives a significant chunk of sales from cooling categories like ACs and Refrigerators. The 1st quarter contributes to as much as a third of the annual revenue for Godrej Appliances. With markets opening across albeit with various conditions June is expected to fare better returns. With the phase-wise lifting of the lockdown – there are countering forces at play. On one hand, consumers need to buy appliances for their comfort and effort reduction, while on the other hand, social distancing norms and overall pandemic fear is keeping people away from stores. There is also the added uncertainty around the lockdown withdrawal given that the scenario is dynamic. With subdued sentiments and an aversion to higher discretionary spends, a change in investment priorities among consumers is also expected. Buying behaviour both in terms of purchase behaviour and value propositions being sought is going through changes. Q. What does your media plan look like? Which medium gets your lion's share? The appliance sector is highly seasonal and with summers being severely impacted, spends are also adversely impacted. Traditional media will definitely undergo a cut this year, digital spends less so. However, this is also dynamic and essentially it will boil down to which medium is expected to give better returns for the budgets available. In case demand sentiments recover, we could see some spike in media platforms like TV or Newspaper, but other traditional media like cinema or outdoor hoardings or radio spends will be more or less replaced by digital. Event costs which tended to be significant in our industry will also be replaced by virtual events and will not be incurred at the same scale. Q. Tell us a bit about your partnership with trade merchants? As consumer behavior is changing across the country amidst the pandemic we are going through, it is important that the entire ecosystem undergoes a transformation to be able to meet consumer’s increased needs for safety and health, across the purchase process. Small shop owners form a vital part of this ecosystem. By making them self-reliant when it comes to online business, Godrej intends to make it a win-win situation for consumers, trade partners and companies. The trade partners are company's key interface with the customers and helping them to gain business online also is crucial for consumer safety, trade safety and improved business overall. During the lock down we started with an enormous online trade engagement program – which is still ongoing. We have covered 5000 trade partners already explaining to them the changing dynamics of industry and the consumer and how they need to prepare themselves, underscoring the need and ways for digital transformation. We have also set up a robust engagement mechanism using Ms Kaizala Platform – on which a number of groups are created for Retailers, EBO, PBO, GACH – providing all the trade partners with a common platform for information sharing. Apart from assisting the trade partners to come aboard on Google My Business, we are enabling our offline retailers to build a digital presence by creating a Facebook Business Page for each of them. We target each of our 25000 offline retailers’network to have a Facebook Business Page by end of June, with 2500 already on board and counting. For customers, this will help them access product information and allow them to purchase a Godrej appliance from their familiar local retailers. All the Godrej Exclusive brand outlets and bulk of the preferred retailer partners and GodrejGreen AC Hubs have already been made live on Facebook with their shop pages. This allows them to link up with consumers through WhatsApp also to discuss, negotiate and conclude the sale. We understand that consumers even if they do visit the stores want to spend the least amount of time at the store and hence it’s important that everyone at store is completely trained on the products. Consequently, the lockdown period is being used effectively to train the large network of promoters and store staff by training them online. We have conducted more than 2000 batches of online product and sales training and ongoing and the initiative has received tremendous feedback. As a responsible brand, we are taking all the necessary precautions against the spread of the COVID-19 pandemic. Keeping in mind the safety and wellbeing of its customers and that of trade partners, we have issued guidelines across its retail and distribution channel to follow Govt. directives like practising social distancing, maintaining hygiene standards and sanitization of appliances and work surfaces at retails shops. The overall endeavor is to get the entire ecosystem transformed digitally, keeping in mind the changed consumer concerns and serving them in the best way. Q. Have you introduced any new tools to empower your employees to accept the new normal? How big is your team right now and how is your brand helping its employees deal with lockdown blues and anxiety? The COVID-19 pandemic has compelled companies to rapidly embrace remote working and presented us with a unique opportunity to embed new ways of working in preparation for the ‘new normal.’ Since the bulk of our organization was already on Office 365 with access to Ms Team, the digital transition on day to day work happened very fast for us without many hiccups. Agile ways of working with digital tools for facilitating every aspect of work have been a key focus area to ensure productivity. But beyond all this, having a very strong engagement process with all stakeholders digitally will play a key role. Keeping stakeholders bonded and engaged with the larger team is a strong action area. A series of large scale and small-scale online meets are in progress at our end and will have to be continued throughout the year. More such initiatives are in the pipeline to help keep the lockdown blues at bay , have everyone up to date, well informed and empowered to capture every opportunity. In line with the much-enhanced sensitization of safety, health and hygiene, we are comprehensively looking at all aspects based on the MHA guidelines for resuming operations post the lockdown. We have a huge team spread across the country following the guidelines and applicable work formats as per local authority directives. Our HR teams are building various scenarios and are identifying which all work can be carried out from home. Based on the scenarios and Govt. permissions on percentage of employees, we plan for a slow ramp up as things stabilize. We are also counselling our employees on practicing social distancing at all times and ensuring that they follow proper guidelines and help them understand the new normal at home, outside and at work and their role &amp; responsibilities in keeping themselves and their loved ones safe. Our technicians have been trained comprehensively on all precautions as they start visiting consumer homes for after-sales service. During the lockdown, more than 15000 service requests were resolved digitally and this practice will continue in times to come as well through our remote service assistance. Q. What are some of the key learnings from this experience? COVID has impacted us like nothing else has in a century now. And it is fair to say that the whole world was caught completely unprepared. As tough as it has been, it has also served as an intense crash course. One of the most surprising and positive outcomes has been the speed of digital adoption across the spectrum. The COVID lockdown forced everyone to speeden the learning curve on digital in a completely unanticipated manner. A related learning hinges around the immense power of digital collaboration in reducing wasteful expenditure and driving higher customer convenience - a lot of processes across organizations are changing for the better and far higher levels of agility is a definite outcome. Going beyond the corporate world – of course, there are other learnings for all of us - from developing a grudging respect for nature’s immense power and hoping that this pandemic will lead to more conscious, sustainable ways of business in the future; to a much-needed reminder that countries should invest in health care first and foremost to the home front where I think in general there is a much higher appreciation for the many tasks that home-makers do round the clock to keep our homes running in order and one can now hope that we strike a better balance by playing equal home-makers in future too – the lessons have been many. As marketers, our job is about keeping a tab on the consumer pulse - understanding their concerns which today are focused on core needs like safety, hygiene, health and convenience and ensuring that our offerings address these needs. Consumers are also reassessing what’s really important to them and learning the benefits of a simpler life. Brands will have to reassess their offerings and they will need the support of their agency partners much more than before to be able to deliver these revised offerings to consumers in an agile and relevant manner. Success in these post COVID times will come only at the back of collaboration, traditional wasteful ways will have to be thrown aside and win-win strategies that involve the larger ecosystem will have to be devised. People will need to acquire new skills and don new hats - the learnings are indeed immense and one only needs to be willing. Q. In these uncertain and stressful days, how are you communicating with your audience? Has the current situation made you innovate and think out of the box, in terms of how you communicate with your consumers? In these unprecedented times, we are adapting to this new business climate by retuning our marketing plans and budgets, finding new ways to increase efficiency and effectiveness and also changing the way we connect with our customers. It is critical to redefine how we as a brand - interact with our audience, avoiding grave pitfalls of insensitivity or myopia. The consumer clearly needs brands to play a larger or at least a different role than what it may have played in the past. It is important to be authentic, credible, and empathetic towards the consumers’ concerns. We need to reflect on the real issues that consumers are facing and addresses ‘CONSUMER NEEDS’ with the right value and solutions. In this new era, it is becoming more and more evident that we need to innovate and re-orientate our products, services and communications to fit the Covid-19 landscape. We are reassessing both - our offerings and the way they are delivered, to address the new consumer concerns which have come up and designing fresh consumer communication and promotion which flows from these new ways of adding value to consumers. One of the promotions we designed for example was around a special extended warranty for COVID Warriors going beyond the free extended warranty being offered to other consumers. This promotion is getting a high acceptance in the marketplace. We are also looking at more user generated content which is a bigger evidence of how we have served the countrymen with exemplary performance. Much earlier in the lockdown, with the insight of how the household chores is now being shared by couples, we launched the first completely in-house film HumSabHomeMakers with real authentic footage. As we empower our large trade partner network on the digital journey, we are also encouraging them to share content directly with their customer bases instead of trying to reach them through traditional channels. Some themes have emerged as more compelling like health &amp; hygiene and safety as well as self-reliance and environment consciousness. They have a role to play across the chain from product development to product purchase and product usage through its lifecycle. Brand building will have to take into cognizance these terrains – some new and some old, in a relevant and authentic manner. Q. How do you see the retail sector shaping up after the lockdown? What would its future look like? Indian retailers are faced with a multitude of challenges as the pandemic continues to impact the sector - witnessing significant disruption over the past few months. The challenges range from managing consumer demand, ensuring liquidity, supply chain disruptions, management of store operations to ensure social distancing and proper hygiene, governance issues, and ensuring the health and safety of employees as well. Foremost for the retailers would be to cater to consumers via their preferred channels. Being able to make use of various digital channels to reach out to customers will be key. Equally important will be to offer digital payment options to consumers. As we go along, digital purchase or digital influence may dip from current levels once the pandemic worry settles down but it is expected to stay significantly higher than pre-pandemic levels. And eventually grow further from there. From a current perspective, as the government is easing restrictions, retailers will need to focus on bouncing back from the current situation. Speed and agility are the key levers of success in this situation. They will have to focus on transforming themselves to succeed in the new way of doing business and to build business resiliency to operate smoothly under such crises in the future. This also means they must become flexible and adaptable to alter operating models and product assortment to meet the requirement at any given point of time.

Small shop owners form a vital part of the consumer electronics ecosystem and we want to make them self-reliant: Swati Rathi, Godrej Appliances

Internship programs help companies make better hiring decisions and also provide great insights for students so that they make more informed recruitment decisions. 
 For years, Gurukul, <keyword id="6369697" type="COMPANY" weightage="100" keywordseo="Godrej">Godrej</keyword>’s two-month internship program, has been a source of business school talent for the company. As part of Gurukul, students work on real-time, live projects across the different business of Godrej. The company invests significantly in mentoring for all its interns and also has buddy program to help interns better integrate with the teams at Godrej. 
 
<a href="http://www.businessinsider.in/Exclusive-AdvantEdge-Partner-Kunal-Khattar-on-why-Failure-should-be-Celebrated-in-an-Entrepreneurs-Risky-Life/articleshow/58530868.cms">ALSO READ: Exclusive: AdvantEdge Partner, Kunal Khattar on why Failure should be Celebrated in an Entrepreneur’s Risky Life</a> 
 
On an average, around 40 per cent of the Gurukul batch receives pre-placements offers for Gallop, Godrej’s management trainee program. 
 <keyword id="113571" type="CITY" weightage="20" keywordseo="Godrej-Industries">Godrej Industries</keyword> welcomed its 87 interns across 11 B-schools with immense grandeur this year. The welcome program was spread across 2 days. Day 01 was dedicated to the fun activity called The Amazing Race while Day 02 consisted of formal welcome notes from senior leadership across businesses of Godrej. Nisaba Godrej, Executive Director at <keyword id="133008" type="COMPANY" weightage="20" keywordseo="Godrej-group">Godrej Group</keyword>, and <keyword id="218886" type="PERSON" weightage="20" keywordseo="Vivek-Gambhir">Vivek Gambhir</keyword>, ‎Managing Director at GCPL among other senior leaders answered queries of the new joiners. 
 
<a href="http://www.businessinsider.in/The-International-MetLife-Foundation-Inclusion-Plus-Competition-has-awarded-this-startup-100000/articleshow/58531903.cms">ALSO READ: The International MetLife Foundation Inclusion Plus Competition has awarded this startup $100,000</a> 
 
Check out the pictures from the program.

See why Godrej's
internship program is a great option for college students

<ul><li>At 7:45 am, the SGX Nifty was trading flat, indicating a tepid start for Nifty50. </li><li>Here's a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start lower on Wednesday, led by mixed cues from the global markets. At 7:45 am, the SGX Nifty was trading flat, indicating a tepid start for Nifty50. However, the US <a href="https://www.businessinsider.in/stock-market/news/dow-closes-at-record-as-democratic-senate-win-and-stimulus-expectations-offset-capitol-chaos/articleshow/80143521.cms">stocks closed at record highs on Wednesday</a> as the prospect for more stimulus under a Democratic-controlled Senate offset chaos at the US Capitol. The Dow Jones Industrial Average closed 437 points higher, and the S&amp;P 500 was up 0.57%. These are the stocks to watch out for during the trading session today: Godrej Properties, Oberoi Realty, Indiabulls Real Estate, Sunteck Realty, and other realty stocks After reducing stamp duties, the Maharashtra government has given a further boost for real estate developers. On January 6, the Maharashtra cabinet approved the proposal to cut the premium on real estate projects by 50% till December 31, 2021. <cmsannotation type="cmsannotation" annotationid="Sobha" comment="subhead" text="Sobha">Sobha</cmsannotation> In its quarterly update, Sobha Limited said its total sales value was up 22.2% to ₹887.6 crore during the quarter. Good demand across product categories has helped Sobha lock in improved sales. It also registered its highest price realisation in the past six quarters. Telecom stocks: Airtel, Vodafone-Idea, RIL, and others The telecom department has issued a notice, inviting applications from companies for the sixth round of 4G spectrum auction for radio waves worth ₹3.92 lakh crore. The auction will begin from March 1, while the companies who wish to bid for the spectrum can submit their applications till February 5. Lupin On Wednesday, homegrown pharma major Lupin said it has received approval from the US health regulator to market its generic version of sulfamethoxazole and trimethoprim oral suspension used to treat bacterial infections. Dixon Technologies Dixon Technologies has bagged a twin wireless speakers manufacturing contract from boAt. The company will be manufacturing the said products from its manufacturing facility located at Noida. Bandhan Bank Private lender Bandhan Bank said its loans and advances grew by 23% year-on-year to ₹80,255 crore during the third quarter of the current fiscal. During the quarter, its total deposits increased by 30% to ₹71,188 crore compared to the corresponding period last year. Maruti Suzuki Maruti Suzuki India, the country's largest carmaker, said its total production in December increased 33.78%. Future Consumer Kishore Biyani-led Future Consumer's <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/58a8372e-408d-42df-955b-35c1f84ce722.pdf">loan default amount till December</a> 31 stands at ₹90 crore and total outstanding loan amount stands at ₹329 crore. Tata Consultancy Services Tata Sons tendered shares worth ₹9,997 crore of <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/76e1562e-e8e4-4dfe-a9fb-03cd45432177.pdf">Tata Consultancy Services (TCS)</a> during the IT major's ₹16,000 crore-buyback offer that concluded recently. The single largest shareholder of TCS, Tata Sons, tendered more than 3.33 crore shares during the offer. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/boat-raises-over-100-million-from-warburg-pincus-analysts-expect-the-headphone-brand-to-double-its-revenue-to-10-billion-this-financial-year/articleshow/80126200.cms" data-type="tilCustomLink">boAt raises over $100 million from Warburg Pincus — analysts expect the headphone brand to double its revenue to ₹10 billion this financial year</a> <a href="https://www.businessinsider.in/stock-market/news/analysts-explain-why-burger-king-and-mrs-bectors-shares-fell-with-a-thud-and-what-to-do-now/articleshow/80120941.cms" data-type="tilCustomLink">Analysts explain why Burger King and Mrs Bector’s shares fell with a thud — and what to do now</a>

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FMCG makers expect sustained recovery in volume and margins with price reduction in FY24

PTI

Adi Godrej to step down as Godrej Industries' chairman and board of directors

PTI

Godrej Properties acquires Raj Kapoor's Bungalow in Mumbai

PTI

Top stock movers — Future Enterprises, HAL, Suntek, Oberoi Realty, M&M, ICICI Bank, Maruti Suzuki, Bajaj Auto and more

Navdeep Yadav

Godrej Industries Q3 net at Rs 216.32 cr

PTI

Sunil Kataria elected as the Chairman of The Indian Society of Advertisers for the sixth consecutive term

BI India Partner

From Ambani, Adani to Godrej — India's treasure trove of satellite data goes beyond helping startups

Prabhjote Gill

Small shop owners form a vital part of the consumer electronics ecosystem and we want to make them self-reliant: Swati Rathi, Godrej Appliances

Karuna Sharma

See why Godrej's internship program is a great option for college students

Tanya Dubey

Top stocks to watch — TCS, RIL, Maruti, Airtel, Godrej Properties, Oberoi Realty, Sobha, and others

Navdeep Yadav

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