<ul><li><keyword id="6365619" type="COMPANY" weightage="20" keywordseo="hindustan-unilever">Hindustan Unilever</keyword> Limited (HUL) and <keyword id="40233" type="COMPANY" weightage="20" keywordseo="emami">Emami</keyword> have locked horns over the trademark rights of ‘<keyword id="9530697" type="UNKNOWN" weightage="20" keywordseo="glow-and-handsome">Glow and Handsome</keyword>’. </li><li>On Monday, the Bombay High Court observed that Emami’s comments do amount to a threat, it is yet to be determined whether or not the accusations are ‘groundless or lawful’. </li><li>Aditi Verma Thakur from IndusLaw explains the intricacies of the case and what’s at stake in the battle of the brands. </li></ul>Hindustan Unilever Limited (HUL) and Emami have a history of trademark conflicts. In some cases, Emami has even come out on top. However, this time around, simply being the ‘handsome waala cream’ may not be enough for the company to sue HUL for trademark infringement. Aditi Verma Thakur for IndusLaw told Business Insider for Emami to show a meritorious ground, it will have to file a suit for trademark violations to prove that it is interested in having an injunction order against HUL. HUL, on the other hand, will have to prove that the legal proceedings that Emami has threatened to initiate have no merits. There are two major points of contention between Emami and HUL. First, is the question of which has ownership of the trademark ‘Glow and Handsome’. Second, is whether HUL’s use of ‘Glow and Handsome’ constitutes unfair business practices. The question of ‘who done it first’ According to Emami, it had already changed its men’s fairness cream’s name to ‘Emami Glow and Handsome’ before HUL made its announcement. However, they don’t seem to have launched it fully on a commercial scale yet, since their website still shows ‘<keyword id="738114" type="PERSON" weightage="20" keywordseo="Fair-and-Handsome">Fair and Handsome</keyword>.’ <div type="image" title="Emami fair and handsome_edited" msid="76830044" hostid="261" caption="&amp;lt;p&amp;gt;Screenshot of &amp;#39;Fair and Handsome&amp;#39; on Emami&amp;#39;s website&amp;lt;/p&amp;gt;"></div> HUL, on the other hand, started rebranding ‘<keyword id="82344" type="PERSON" weightage="20" keywordseo="fair-and-lovely">Fair and Lovely</keyword>’ to ‘Glow and Handsome’ at the <a href="https://www.businessinsider.in/advertising/brands/news/huls-fair-lovely-to-now-be-called-glow-lovely/articleshow/76750953.cms">beginning of July</a>. The Bombay High Court observed that "prima facie" — on the face of it — it does appear that HUL was the prior adopter of the mark as it had filed its trademark application first in September 2018 and subsequently on 25 June 2020. <div type="Article" hostid="261" msid="76750953" title="HUL's Fair &amp; Lovely to now be called 'Glow &amp; Lovely'" mstype="2" mssubtype="0"></div> “There is a legal advantage that a brand owner gets when it is the first one to launch or anyhow commercially use a certain brand name,” said Thakur. Is it an unfair business practice? Emami has accused HUL and the rebranding of its men’s ‘Fair and Lovely’ line of products to ‘Glow and Handsome’ as being an “unfair business practice.” By this, Emami is alleging that HUL — by adopting a brand name that’s similar to Emami’s — is indulging in false representation to mislead and confuse consumers. This stems from the fact that Emami’s ‘Fair and Handsome’ range of products is currently the <a href="https://retail.economictimes.indiatimes.com/news/food-entertainment/personal-care-pet-supplies-liquor/when-fair-is-not-lovely-how-fair-and-handsome-targets-to-be-rs-1000-cr-brand/58279263#:~:text=Fair%20and%20Handsome%20which%20is,the%20men's%20fairness%20cream%20category.">market leader</a> in the men’s segment of fairness creams. Emami also claims that its product is generically known as the “handsome waala cream”. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[<iframe width="560" height="315" src="https://www.youtube.com/embed/Zv0vhpaB2Zo" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>]]></cdata></div> “We need to factor in the fact that this tagline is a combination of common words, including the word ‘handsome’ — a laudatory word,” said Thakur. According to her, Emami’s tagline will not give Emami an advantage over HUL in terms of its intellectual property worth. “The tagline may have been used, and may have also become known and connected with Emami’s product branded ‘Fair and Handsome’, but it is overall different from the brand name ‘Glow and Handsome’,” she said. HUL, on the other hand, has a hold over 80% of the <a href="https://www.researchandmarkets.com/reports/4480827/india-fairness-cream-and-bleach-market-overview">₹3,000 crore</a> fairness cream market in India overall. However, simply being the bigger brand won’t be enough for HUL to plead its case. “HUL’s market share will merely show to the High Court that they are bigger in numbers,” said Thakur. HUL went to court before Emami While Emami is reportedly consulting legal experts on the matter, but it has not filed any formal suit. It was, in fact, HUL that filed an application with the Bombay High Court under Trade Mark Act seeking an injunction to keep Emami from issuing ‘groundless threats’. Thakur explains this because India’s Trade Mark Act of 1999 provides for a special provision under which if a person receives a threat of legal proceeding from another person by any means — and if they believe them to be ‘groundless or illegal’ — they can initiate a suit against the person issuing the threats. “In such a suit, the first person would pray for (1) having those threats declared as groundless or unjustifiable, (2) injunction to prevent any more threats and also (3) damages that he may have sustained,” said Thakur. So far, according to the Bombay High Court, Emami’s threats “do amount to a threat” but the question for whether they are unlawful or groundless is yet to be determined. SEE ALSO: <a href="https://www.businessinsider.in/advertising/brands/news/fair-lovely-to-drop-fair-from-its-name-hul/articleshow/76621560.cms">Fair &amp; Lovely to drop 'Fair' from its name: HUL</a> <a href="https://www.businessinsider.in/advertising/brands/news/huls-fair-lovely-to-now-be-called-glow-lovely/articleshow/76750953.cms">HUL's Fair &amp; Lovely to now be called 'Glow &amp; Lovely'</a> <a href="https://www.businessinsider.in/business/corporates/news/hul-share-price-gains-even-while-company-warns-of-lower-profits/articleshow/76175124.cms">HUL shares spike despite a profit warning⁠ as investors get swayed by the broader market mood</a>

HUL vs Emami — A lawyer explains what’s fair and not in the battle of brands

<ul><li>India’s largest consumer goods company HUL posted an increase in revenue for the June quarter, primarily due to the <keyword id="6373926" type="UNKNOWN" weightage="20" keywordseo="horlicks">Horlicks</keyword> boost from the GSK acquisition.</li><li>All but one of HUL’s segments posted a reduction in its revenue – only the Food &amp; Refreshment segment posted a growth of 34%.</li><li>Shareholders, on the other hand, hinted that they want more than just a Horlicks boost – the share price of HUL took a knock on back of earnings, falling by 3.6%.</li><li><a href="https://www.businessinsider.in/stock-market/markets/news/a-deal-with-google-is-not-the-only-lifeline-vodafone-idea-is-betting-on/articleshow/76086104.cms">Check out the latest news and updates on Business Insider.</a></li></ul>Such is the power of Horlicks – a 140-year old brand that has given a boost to the topline of Hindustan Unilever (HUL), turning a 7% fall in sales to a 7% increase. As a result, HUL posted a 52% jump in revenue in the food and refreshment segment in the June quarter. However, even though Horlicks boosted HUL’s revenue, shareholders want more. In the first hour of trade today, HUL’s shares were down by 3%, signalling that shareholders are not happy with the June results. <div type="image" title="Hindustan Unilever share price" msid="77100892" hostid="261" caption="&amp;lt;p&amp;gt;Hindustan Unilever share price in July, 2020&amp;lt;/p&amp;gt;"></div> In the run up to the earnings, HUL’s shares surged by 7.5%. However, since the earnings were released, the company’s shares have taken a beating, falling by as much as 3.6%. Here’s how HUL performed in the June quarter HUL is the largest consumer goods company in India, and the GSK acquisition might have saved it the blushes in the June quarter. Despite the lockdown impacting its business, HUL posted an increase of 7% in its revenues, and a 4.2% increase in its profit. If the benefit from the GSK consumer business takeover is removed, HUL’s revenues would have shrunk 7%. Barring the food and refreshment segment, every other segment posted a fall in revenue. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Segment </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Revenue (in crore) </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Growth </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Others </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">171 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-36% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Beauty &amp; Personal Care </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">4039 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-12% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Home Care </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">3392 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-2% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Food &amp; Refreshment </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2958 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">34% </td></tr></tbody></table> Source: HUL “Domestic Nutrition business performed well; immunity boosting Horlicks with added Zinc was launched in the quarter,” HUL said in a statement. Other products drove HUL’s revenue down. “Ice creams, foods solutions and our vending businesses which are driven primarily by out of home consumption were massively impacted by the lockdown and closure of restaurants/eateries,” the company added. Near-term uncertain, but HUL reassures its shareholders Despite near-term outlook remaining uncertain, HUL tried to assuage its shareholders. “While constraints continue due to restrictions in several parts of the country and the near-term demand outlook remains uncertain, we remain well positioned to drive competitive, profitable and responsible growth,” the company said. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/hindustan-unilever-limited-first-quarterly-earnings-profit-revenue-and-share-price-chart/articleshow/77085971.cms">GSK merger became a pain killer for HUL</a> <a href="https://www.businessinsider.in/business/corporates/news/hindustan-unilever-limited-ceo-sanjiv-mehta-says-the-product-inventory-range-will-be-smaller-and-simpler-hereon/articleshow/76128468.cms">HUL CEO says the product inventory range will be smaller and simpler hereon⁠— analysts believe others may have the same plan</a> <a href="https://www.businessinsider.in/business/corporates/news/hul-vs-emami-a-lawyer-explains-whats-fair-and-not-in-the-battle-of-brands/articleshow/76829901.cms">HUL vs Emami — A lawyer explains what’s fair and not in the battle of brands</a>

Horlicks helps HUL clock a profit – but shareholders want more

<ul><li><keyword id="6365619" type="COMPANY" weightage="20" keywordseo="hindustan-unilever">Hindustan Unilever</keyword>’s (<keyword id="44863" type="CITY" weightage="20" keywordseo="HUL">HUL</keyword>) first-quarter earnings showed a 7% increase in profit after tax, despite the blues of coronavirus-induced lockdown.</li><li>GSK merger helps mask the pain; total sales grows 4% </li><li>The share price of <keyword id="403767" type="PERSON" weightage="20" keywordseo="fast-moving-consumer-goods">fast-moving consumer goods</keyword> major ended a percent lower ahead of the earnings even as the <keyword id="6484188" type="COMPANY" weightage="20" keywordseo="sensex">Sensex</keyword> rallied over 500 points. </li></ul>India’s largest <keyword id="107179" type="ORGANIZATION" weightage="20" keywordseo="consumer-goods">consumer goods</keyword> company Hindustan Unilever’s (HUL) first-quarter earnings showed a 7% increase in profit after tax to ₹1,881 crore. But if the benefit from the merger of <keyword id="78710" type="COMPANY" weightage="20" keywordseo="GlaxoSmithKline">GlaxoSmithkline</keyword>'s (GSK) consumer business is removed, the topline would have shrunk 7%. <table style="width:164.85pt;margin-left:4.55pt;border-collapse:collapse;mso-yfti-tbllook: 1184;mso-padding-alt:0in 5.4pt 0in 5.4pt"> <tbody><tr> <td style="width:53.4pt;border:solid windowtext 1.0pt; mso-border-alt:solid windowtext .5pt;padding:0in 5.4pt 0in 5.4pt;height:15.0pt"> Particulars </td> <td style="width:63.45pt;border:solid windowtext 1.0pt; border-left:none;mso-border-top-alt:solid windowtext .5pt;mso-border-bottom-alt: solid windowtext .5pt;mso-border-right-alt:solid windowtext .5pt;padding: 0in 5.4pt 0in 5.4pt;height:15.0pt"> April-June 2020 </td> <td style="width:48.0pt;border:solid windowtext 1.0pt; border-left:none;mso-border-top-alt:solid windowtext .5pt;mso-border-bottom-alt: solid windowtext .5pt;mso-border-right-alt:solid windowtext .5pt;padding: 0in 5.4pt 0in 5.4pt;height:15.0pt"> Growth </td> </tr> <tr> <td style="width:53.4pt;border:solid windowtext 1.0pt; border-top:none;mso-border-left-alt:solid windowtext .5pt;mso-border-bottom-alt: solid windowtext .5pt;mso-border-right-alt:solid windowtext .5pt;padding: 0in 5.4pt 0in 5.4pt;height:15.0pt"> Revenue </td> <td style="width:63.45pt;border-top:none; border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-bottom-alt:solid windowtext .5pt;mso-border-right-alt:solid windowtext .5pt; padding:0in 5.4pt 0in 5.4pt;height:15.0pt"> ₹1,881 crore </td> <td style="width:48.0pt;border-top:none; border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-bottom-alt:solid windowtext .5pt;mso-border-right-alt:solid windowtext .5pt; padding:0in 5.4pt 0in 5.4pt;height:15.0pt"> 7% </td> </tr> <tr> <td style="width:53.4pt;border:solid windowtext 1.0pt; border-top:none;mso-border-left-alt:solid windowtext .5pt;mso-border-bottom-alt: solid windowtext .5pt;mso-border-right-alt:solid windowtext .5pt;padding: 0in 5.4pt 0in 5.4pt;height:15.0pt"> Profit </td> <td style="width:63.45pt;border-top:none; border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-bottom-alt:solid windowtext .5pt;mso-border-right-alt:solid windowtext .5pt; padding:0in 5.4pt 0in 5.4pt;height:15.0pt"> ₹10,560 crore </td> <td style="width:48.0pt;border-top:none; border-left:none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; mso-border-bottom-alt:solid windowtext .5pt;mso-border-right-alt:solid windowtext .5pt; padding:0in 5.4pt 0in 5.4pt;height:15.0pt"> 4.20% </td> </tr> </tbody></table> Revenue from every segment, except food and refreshment, took a beating as demand went down and supply was choked even for essentials. <table style="border-width: initial; border-style: none;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Segment </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Growth% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Home Care </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3392 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> -2.1% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Beauty &amp; Personal Care </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4039 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> -11.9% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Foods &amp; Refreshment </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2958 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> 34% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Others </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹171 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> -35.6% </td></tr></tbody></table> The street was expecting a 2% fall in revenue. The share price of fast-moving consumer goods major ended a percent lower ahead of the earnings when the Sensex rallied over 500 points. <div type="image" title="HULshare (1)" msid="77085976" hostid="261"></div> "Hygiene and Nutrition constituting, 80% of our portfolio, delivered healthy mid-single digit domestic consumer growth," Chief Executive Officer (CEO) said in a statement to the exchanges. SEE ALSO:<a href="https://www.businessinsider.in/business/corporates/news/hul-vs-emami-a-lawyer-explains-whats-fair-and-not-in-the-battle-of-brands/articleshow/76829901.cms" data-type="tilCustomLink"> HUL vs Emami — A lawyer explains what’s fair and not in the battle of brands</a> <a href="https://www.businessinsider.in/business/corporates/news/hindustan-unilever-limited-ceo-sanjiv-mehta-says-the-product-inventory-range-will-be-smaller-and-simpler-hereon/articleshow/76128468.cms" data-type="tilCustomLink">HUL CEO says the product inventory range will be smaller and simpler hereon⁠— analysts believe others may have the same plan</a>

GSK merger became a pain killer for HUL

The <keyword id="6357149" type="COMPANY" weightage="20" keywordseo="hdfc-bank">HDFC Bank</keyword> has reduced the marginal cost of funds-based lending rates (MCLR) on loans across tenors by 20 basis points with immediate effect. Following the reduction, MCLRs of the bank will range from 7.10 per cent to 7.65 per cent. The bank's overnight MCLR now stands reduced to 7.10 per cent and its one-month MCLR is 7.15 per cent. One-year MCLR will now be 7.45 per cent, while three-year MCLR stands at 7.65 per cent. Banks review MCLR every month. Last month the HDFC Bank had reduced MCLR across tenors by 5 bps. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/intel-will-speed-up-mukesh-ambanis-5g-run-power-him-with-ai-and-possibly-a-jio-laptop/articleshow/76780290.cms">Intel will speed up Mukesh Ambani’s 5G run, power him with AI and possibly a Jio laptop⁠— all in return for massive amount of data</a> <a href="https://www.businessinsider.in/business/corporates/news/hul-vs-emami-a-lawyer-explains-whats-fair-and-not-in-the-battle-of-brands/articleshow/76829901.cms">HUL vs Emami — A lawyer explains what’s fair and not in the battle of brands</a> <a href="https://www.businessinsider.in/science/space/news/nasas-latest-pictures-from-mars-are-fascinating-showing-where-the-curiosity-rover-is-headed-next/articleshow/76825564.cms">NASA's latest pictures from Mars are fascinating — showing where the Curiosity rover is headed next</a>

HDFC Bank loans to be cheaper as interest rates get slashed by 0.2%

<keyword id="6355629" type="DEFINITION" weightage="20" keywordseo="google">Google</keyword> has officially shut down its social networking platform <keyword id="699770" type="COMPANY" weightage="20" keywordseo="Google-Plus">Google Plus</keyword> and it has rebranded the apps on both Google Play Store as well as Apple App Store to Google <keyword id="860771" type="PERSON" weightage="20" keywordseo="Currents">Currents</keyword>. The Currents rebrand started back in April of 2019 when Google Plus was shut down for consumers and search engine giant started to delete consumer accounts on Plus and it launched Currents in beta shortly after. The existing plus.google.com URLs will continue to function and automatically redirect to currents.google.com, creating a seamless migration, reports 9to5Google. According to the Google Play Store listing page, the app is described as a place where people will be able to connect with their colleagues, exchange documents, interact with like-minded people who have similar interests. The Currents app is very similar to the Google Plus app it replaces. The UI is mostly unchanged and many of Google+'s features are still present. There are a few new business-y features for content moderation and administrative privileges. "Currents is available for G Suite customers only. Check with your G Suite IT Administrator to learn more," adds the description. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/intel-will-speed-up-mukesh-ambanis-5g-run-power-him-with-ai-and-possibly-a-jio-laptop/articleshow/76780290.cms">Intel will speed up Mukesh Ambani’s 5G run, power him with AI and possibly a Jio laptop⁠— all in return for massive amount of data</a> <a href="https://www.businessinsider.in/business/corporates/news/hul-vs-emami-a-lawyer-explains-whats-fair-and-not-in-the-battle-of-brands/articleshow/76829901.cms">HUL vs Emami — A lawyer explains what’s fair and not in the battle of brands</a> <a href="https://www.businessinsider.in/science/space/news/nasas-latest-pictures-from-mars-are-fascinating-showing-where-the-curiosity-rover-is-headed-next/articleshow/76825564.cms">NASA's latest pictures from Mars are fascinating — showing where the Curiosity rover is headed next</a>

Google Plus is now 'Google Currents' in app stores

The government is coming up with a <keyword id="110048" type="ENTERTAINMENT" weightage="20" keywordseo="Standard-Operating-Procedure">Standard Operating Procedure</keyword> (SOP) for shooting films in India in light of the <keyword id="8902449" type="UNKNOWN" weightage="20" keywordseo="covid-19-pandemic">COVID-19 pandemic</keyword> and is also set to provide incentives for production to accelerate restarting of film-making, <keyword id="3198120" type="PERSON" weightage="20" keywordseo="Union-minister-Prakash-Javadekar">Union minister Prakash Javadekar</keyword> said on Tuesday. Speaking at the inauguration of 'FICCI FRAMES 2020, a convention on the business of entertainment, Javadekar said all stakeholders need to work together to make progress and harness the <keyword id="65413" type="PERSON" weightage="20" keywordseo="Soft-Power">soft power</keyword> of India -- media and entertainment. "Government is coming up with a standard operating procedure for shooting films in India in the light of the pandemic," the Information and Broadcasting minister said. "Further, to accelerate the restart of film-making that had come to a standstill as a result of COVID, it is also coming up with incentives of production in all sectors, including TV serials, film-making, co-production, animation, gaming. We will be announcing these measures shortly," he said. Javadekar also said that more than 80 foreign film producers have taken advantage of the film facilitation office. They have got a single window clearance for shooting their films in India, Javadekar said. He said the discussions at 'FICCI FRAMES' would certainly throw up new and innovative ideas that can be acted upon. Virtual inaugurations are the new normal and those virtual spaces are the new places for real partnerships, Javadekar said. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/hul-vs-emami-a-lawyer-explains-whats-fair-and-not-in-the-battle-of-brands/articleshow/76829901.cms" data-type="tilCustomLink">HUL vs Emami — A lawyer explains what’s fair and not in the battle of brands</a> <a href="https://www.businessinsider.in/india/news/photographer-of-the-viral-black-panther-images-from-india-shares-his-story/articleshow/76830618.cms" data-type="tilCustomLink">INTERVIEW: Shaaz Jung opens up about the blood, sweat and years behind the viral images of a rare black panther</a>

Government to release safety guidelines for shooting films amid coronavirus

<keyword id="6356109" type="COMPANY" weightage="20" keywordseo="diesel">Diesel</keyword> has extended its gain over petrol in Delhi as oil marketing companies raised its price in the city by 25 paisa a litre on Tuesday after keeping auto fuel prices hanged for the last seven days. With the increase, diesel is priced at Rs 80.78 a litre in the National Capital, up from Rs 80.53 a litre on Monday. The oil companies, however, kept petrol prices unchanged across the country, resulting in diesel extending its gain in Delhi from 10 paisa earlier to 35 paisa now. Delhi is the only metro city where Diesel is priced higher than petrol and this has been maintained since June 24, when for the time ever the transportation fuel climbed up over petrol. Apart from Delhi, diesel is still cheaper than petrol by Rs 6-8 per litre in other metro cities. Diesel is priced at Rs 79.05 a litre in <keyword id="6358070" type="LOCATION" weightage="20" keywordseo="mumbai">Mumbai</keyword> that is an increase of 22 paisa over Monday's price, at Rs 77.91 a litre in <keyword id="12864" type="LOCATION" weightage="20" keywordseo="Chennai">Chennai</keyword> (19 paisa increase) and Rs 75.89 a litre in <keyword id="6354925" type="LOCATION" weightage="20" keywordseo="kolkata">Kolkata</keyword> (25 paisa increase). Officials in oil marketing companies said that diesel prices are seeing more volatility in international market so the price changes in the fuel segment has been higher. But with global oil prices also rising again and set to touch $43 a barrel, the expectation is that fuel prices may again see an uptick in coming days. Before Tuesday, Fuel prices have remained unchanged for the seven consecutive days since June 30 across the four metros. Prices of the transportation fuel have had a pause after rising to record levels in 23 of the past 31 days after the oil marketing companies (OMC) resumed the daily price revision system from June 7 that kept the petrol and diesel prices to rise incessantly till June 29. During the daily hike till June 29, diesel prices in Delhi recorded a new feat by overtaking petrol prices, making the common man feel the heat. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/tcs-share-price-and-first-quarter-earnings-estimate/articleshow/76827257.cms" data-type="tilCustomLink">TCS shares are hot again as investors hope for a quarterly surprise</a> <a href="https://www.businessinsider.in/business/corporates/news/hul-vs-emami-a-lawyer-explains-whats-fair-and-not-in-the-battle-of-brands/articleshow/76829901.cms" data-type="tilCustomLink">HUL vs Emami — A lawyer explains what’s fair and not in the battle of brands</a>

Diesel extends gain over petrol in Delhi after 7-day pause

<keyword id="6354576" type="UNKNOWN" weightage="20" keywordseo="facebook">Facebook</keyword>, <keyword id="790242" type="COMPANY" weightage="20" keywordseo="WhatsApp">WhatsApp</keyword>, <keyword id="6355629" type="DEFINITION" weightage="20" keywordseo="google">Google</keyword>, <keyword id="6354616" type="UNKNOWN" weightage="20" keywordseo="Twitter">Twitter</keyword> and Telegram have said they will not process official requests from the Hong Kong authorities to hand over user data for the time being, in the wake of China imposing a controversial new National Security Law in Hong Kong. According to a report in The Wall Street Journal, WhatsApp decided to pause the review of Hong Kong government requests for user data "pending further assessment" of China's national-security law for territory. Facebook is "pausing" such reviews "pending further assessment of the impact of the National Security Law, including formal human rights due diligence and consultations with human rights experts," a WhatsApp spokeswoman was quoted as saying in the report. Google and Twitter said they suspended their reviews of data requests from Hong Kong authorities immediately after the law went into effect. Twitter cited "grave concerns" about the law's implications. Dubai-based Telegram Group said in a statement that it doesn't intend to process "any data requests related to its Hong Kong users until an international consensus is reached in relation to the ongoing political changes in the city." A company spokesperson said it "has never shared any data with the Hong Kong authorities in the past." The people in Hong Kong fear that the new law can send them to jail on the basis of their social media posts and messages. After China imposed a controversial new National Security Law in Hong Kong, tech giants now face a free speech test in the country. The new law requires local authorities to take steps to supervise and regulate the city's internet. Facebook, Instagram, Twitter and Google-owned YouTube currently operate freely in Hong Kong, unlike China where the great Firewall has censored the US tech giants in mainland China. Twitter said in an earlier statement that it has "grave concerns and is committed to protecting the people using our services and their freedom of expression". The Hong Kong government last week said the US has no right to intervene in the city's internal affairs, after the American Senate unanimously passed a punitive sanctions bill in reaction to the controversial new National Security Law imposed by China. The national security law, which Beijing put into effect and made public last week on the eve of the 23rd anniversary of Hong Kong's handover from British to Chinese rule, criminalises a wide range of behaviour and acts under four categories of secession, subversion, terrorism and collusion with a foreign power. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/intel-will-speed-up-mukesh-ambanis-5g-run-power-him-with-ai-and-possibly-a-jio-laptop/articleshow/76780290.cms">Intel will speed up Mukesh Ambani’s 5G run, power him with AI and possibly a Jio laptop⁠— all in return for massive amount of data</a> <a href="https://www.businessinsider.in/business/corporates/news/hul-vs-emami-a-lawyer-explains-whats-fair-and-not-in-the-battle-of-brands/articleshow/76829901.cms">HUL vs Emami — A lawyer explains what’s fair and not in the battle of brands</a> <a href="https://www.businessinsider.in/science/space/news/nasas-latest-pictures-from-mars-are-fascinating-showing-where-the-curiosity-rover-is-headed-next/articleshow/76825564.cms">NASA's latest pictures from Mars are fascinating — showing where the Curiosity rover is headed next</a>

Facebook, WhatsApp, Google, Twitter and others won't be sharing data with Hong Kong

Scientists have found that <keyword id="644986" type="PERSON" weightage="20" keywordseo="heatwaves">heatwaves</keyword> have been increasing in frequency and duration since the 1950s in nearly every part of the world. The study, published in Nature Communications analysed the extreme temperature events at a regional level since the 1950s and found that nowhere on the planet experienced a significant decrease in heatwaves. "Not only have we seen more and <keyword id="9530937" type="UNKNOWN" weightage="20" keywordseo="longer-heatwaves">longer heatwaves</keyword> worldwide over the past 70 years, but this trend has markedly accelerated," said study lead author Dr Sarah Perkins Kirkpatrick from the ARC Centre of Excellence for Climate Extremes in Australia. "Cumulative heat shows a similar acceleration, increasing globally on average by 1 degree C-4.5 degree C each decade but in some places, like the Middle East, and parts of Africa and South America, the trend is up to 10 degree C a decade," Kirkpatrick added. For the findings, the research team had produced a new metric, cumulative heat, which reveals exactly how much heat is packed into individual heatwaves and heatwave seasons. As expected, that number is also on the rise. According to the researchers, in Australia's worst heatwave season, an additional 80 degree C of cumulative heat was experienced across the country. In Russia and the Mediterranean, their most extreme seasons baked in an additional 200 degree C or more. The study also identified that natural variability impacts on heatwaves can be large at regional levels. This variability can overwhelm heatwave trends, so regional trends shorter than a few decades are generally not reliable. To detect robust trend changes, the researchers looked at how the trends had changed over multi-decade intervals between 1950-2017. The changes were stark. For example, the Mediterranean, saw a dramatic uptick in heatwaves when measured over multi-decade spans. From 1950-2017, the Mediterranean saw an increase in heatwaves by two days a decade. But the trend from 1980 to 2017 had seen that accelerate to 6.4 days a decade. The regional approach also showed how the trends vary. Regions like the Amazon, north-east Brazil, west Asia and the Mediterranean are experiencing rapid changes in heatwaves while areas like South Australia and North Asia are still seeing changes but at a slower rate. "The dramatic region-by-region change in heatwaves we have witnessed over the past 70 years and the rapid increase in the number of these events, are unequivocal indicators that global warming is now with us and accelerating," the study authors wrote. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/intel-will-speed-up-mukesh-ambanis-5g-run-power-him-with-ai-and-possibly-a-jio-laptop/articleshow/76780290.cms">Intel will speed up Mukesh Ambani’s 5G run, power him with AI and possibly a Jio laptop⁠— all in return for massive amount of data</a> <a href="https://www.businessinsider.in/business/corporates/news/hul-vs-emami-a-lawyer-explains-whats-fair-and-not-in-the-battle-of-brands/articleshow/76829901.cms">HUL vs Emami — A lawyer explains what’s fair and not in the battle of brands</a> <a href="https://www.businessinsider.in/science/space/news/nasas-latest-pictures-from-mars-are-fascinating-showing-where-the-curiosity-rover-is-headed-next/articleshow/76825564.cms">NASA's latest pictures from Mars are fascinating — showing where the Curiosity rover is headed next</a>

Heatwaves worldwide have become longer and more common over last 70 years

<ul><li>The photographs of Saya, a rare black panther residing in the <keyword id="9527016" type="UNKNOWN" weightage="20" keywordseo="kabini-forest">Kabini forest</keyword> of India, have gone viral, with people comparing it to Bagheera from the Jungle Book.</li><li>In an interview with Business Insider, Shaaz Jung, the wildlife photographer, shares how he has spent the last five years capturing the black panther.</li><li>For Jung, this was once in a lifetime opportunity.</li></ul>The photographs of Saya, a rare black panther residing in the Kabini forest in Karnataka, India, have gone viral. The man behind the camera, Shaaz Jung⁠— who spent 12 hours a day for five long years tracking the panther⁠— was more surprised how these pictures broke the internet. <div type="image" title="Shaaz Jung" msid="76830780" hostid="261" caption="&amp;lt;p&amp;gt; &amp;#8220;My first reaction was this is so typical of the internet today &amp;#8211; the digital age where anything, anywhere can just go viral,&amp;#8221; Jung told Business Insider. &amp;lt;/p&amp;gt;"></div> Capturing Saya – the rare black panther The 31-year old wildlife filmmaker and photographer has spent the last five years solely documenting Saya – the melanistic leopard who has found his way into the Kabini forest. “When people see these pictures, they think there are several leopards, but actually there’s just one black panther where we are – one melanistic leopard in the dense forest of Nagerhole. So, it was like finding a needle in a haystack,” said Jung, who also owns a wildlife safari lodge in Nagarhole National Park. Jung said the park is one of the few places in the world that have tigers, leopards, the black panther, elephants, bears, dholes and more. “This is truly the real jungle book,” he said. For two-three years straight, Jung has been going into the jungle at 6 am, spending all day out there till 6.30 pm, for all seven days in a week. “I would consider myself very lucky if I saw him twice a week and a lot of times it would be just fleeting glimpses,” he said. <div type="image" title="The Jungle is Watching" msid="76830787" hostid="261" caption="&amp;lt;p&amp;gt;The Jungle is Watching&amp;lt;/p&amp;gt;"></div> But Jung knew that this was once in a lifetime opportunity, so far black panthers were only studied in the forests of Malaysia with the help of remote camera traps. “The result is the first portfolio of a melanistic leopard where we have got him hunting, courting, fighting everything. My aim was to go deeper and understand how he is surviving in a forest where he doesn’t belong,” he said. Black panthers are usually found in evergreen forests, where the thick canopy of trees doesn’t let the sun into the undergrowth, but Saya is found in the deciduous forest of Kabini. “He is not just surviving, he is thriving,” said Jung. From a family of wildlife enthusiasts Jung is the ambassador for Nikon India and also recently worked as the director of photography for a National Geographic film on the rare black panther. The virality began when a Twitter handle called ‘Earth’ picked it up and soon thousands of people across the world were sharing the photos. Jung, whose father is the former Indian cricketer Saad Bin Jung, got a call from his uncle, the actor, <keyword id="333" type="PERSON" weightage="20" keywordseo="Saif-Ali-Khan">Saif Ali Khan</keyword> too about the viral photographs and asking that he would like to share it too. Jung, an economics graduate, was headed for the corporate world, until he came to the forest when he was 20, along with his parents who are wildlife conservationists. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/hul-vs-emami-a-lawyer-explains-whats-fair-and-not-in-the-battle-of-brands/articleshow/76829901.cms">HUL vs Emami — A lawyer explains what’s fair and not in the battle of brands</a> <a href="https://www.businessinsider.in/science/space/news/nasas-latest-pictures-from-mars-are-fascinating-showing-where-the-curiosity-rover-is-headed-next/articleshow/76825564.cms">NASA's latest pictures from Mars are fascinating — showing where the Curiosity rover is headed next</a>

INTERVIEW: Shaaz Jung opens up about the blood, sweat and years behind the viral images of a rare black panther

<ul><li>These metallic electrodes in the new battery can remain liquefied at a temperature of <a href="https://news.utexas.edu/2020/07/06/new-room-temperature-liquid-metal-battery-could-be-the-path-to-powering-the-future/">20 degrees Celsius, the lowest operating temperature ever recorded</a> for a liquid-metal battery.</li><li>Unlike the current batteries, these can be scaled up or down easily, depending on the power needed. The bigger the battery, the more power it can deliver.</li><li>The researchers also noted that it may be possible to create a battery with even lower melting points using different materials.</li></ul>The researchers at <keyword id="794879" type="COMPANY" weightage="20" keywordseo="The-University-of-Texas">The University of Texas</keyword> claim to have developed a new type of battery that combines the many benefits of <a href="https://news.utexas.edu/2020/07/06/new-room-temperature-liquid-metal-battery-could-be-the-path-to-powering-the-future/">existing liquid and solid-state batteries while eliminating their key shortcomings</a> and saving energy. According to the researchers, this will be the first all-liquid-metal battery that can operate at room temperature, and it apparently outperforms lithium-ion batteries. Lithium-ion batteries are used to power an increasing number of devices, such as thermometers, remote car locks, MP3 players, calculators and battery backup systems in computers. The Lithium-ion batteries are also commonly used in electric vehicles because of their high energy density compared to their weight. “This battery can provide all the benefits of both solid- and liquid-state—including more energy, increased stability and flexibility—without the respective drawbacks, while also saving energy,” said Yu Ding, a postdoctoral researcher in associate professor Guihua Yu’s research group. <div type="image" title="texas battery 1" msid="76846357" hostid="261"></div> What's different? In liquid metal batteries, the electrodes are made of liquid metals, which makes it less susceptible to wearing out than solid batteries, since dendrites don’t form and damage the components. However, liquid-state batteries can deliver energy more efficiently, but they either fall short on high energy demands or require <a href="https://techxplore.com/news/2020-07-room-temperature-liquid-metal-battery-path-powering.html">significant resources to constantly heat the electrodes and keep them molten</a>. According to researchers, this battery includes the “best of both worlds” of liquid- and solid-state batteries. And, can be scaled up or down easily, depending on the power needed. The bigger the battery, the more power it can deliver. Stays liquefied at a room temperature Usually, the liquid-metal batteries must be kept at temperatures above 240 <keyword id="136546" type="PERSON" weightage="20" keywordseo="degrees-Celsius">degrees Celsius</keyword> in order to keep the metals liquid. However, these metallic electrodes in the new battery can remain liquefied at a temperature of <a href="https://techxplore.com/news/2020-07-room-temperature-liquid-metal-battery-path-powering.html">20 degrees Celsius (68 degrees Fahrenheit), the lowest operating temperature ever recorded</a> for a liquid-metal battery, according to the researchers. <div type="image" title="texas battery 2" msid="76846376" hostid="261"></div> The new battery includes a sodium-potassium alloy as the anode and a gallium-based alloy as the cathode. Anode and cathode are the parts of the battery through which the current enters and exits into an electrical device. The researchers also noted that it may be possible to create a battery with even lower melting points using different materials. Still at a nascent stage The researchers are still working to find <keyword id="8512007" type="UNKNOWN" weightage="20" keywordseo="alternative-materials">alternative materials</keyword> that can deliver the same performance while reducing the cost of production. As the gallium remains an expensive material which constitutes the backbone of this new battery. The researchers are also working to increase the power of the battery at the room-temperature battery as it “cannot compete with high-temperature, liquid-metal batteries at the current stage, better power capability is expected if advanced electrolytes are designed with high conductivity,” <a href="https://news.utexas.edu/2020/07/06/new-room-temperature-liquid-metal-battery-could-be-the-path-to-powering-the-future/">said Ding</a>. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/elyments-dips-to-3-5-stars-on-google-play-store-heres-what-analysts-believe-indias-new-social-network-needs-in-order-to-be-successful/articleshow/76845819.cms" data-type="tilCustomLink">Elyments dips to 3.5 stars on Google Play Store — Here's what analysts believe India's new social network needs in order to be successful</a> <a href="https://www.businessinsider.in/business/corporates/news/hul-vs-emami-a-lawyer-explains-whats-fair-and-not-in-the-battle-of-brands/articleshow/76829901.cms" data-type="tilCustomLink">HUL vs Emami — A lawyer explains what’s fair and not in the battle of brands</a>

This new room-temperature liquid-metal battery may last longer than lithium-ion batteries, says a new research

<ul><li>The average purchasing power in India is depleting fast that is likely to affect consumer demand.</li><li>However, benchmark indices Sensex and Nifty have recently hit record levels thanks to a surge in corporate profits, most of which came from cost cutting.</li><li>The sustained fall in household savings, both financial and physical assets like gold or real estate, over the last five years has been worsened by the fall in wages.</li><li>This has led to a sharp fall in consumer confidence and that is bad news for companies looking to sell cars, jewellery, home appliances, and even shares and other financial investments.</li></ul>Forget gross domestic product (GDP) and the high-as-a-kite stock markets. Even the Narendra Modi government likes to <a href="https://timesofindia.indiatimes.com/business/india-business/india-gdp-in-ppp-terms-more-than-bdeshs-govt/articleshow/78671559.cms" data-type="tilCustomLink" target="_blank">cite the country’s purchasing power when cornered</a>. But even that is on a slide, a not-so-merry one. It’s hardly a surprise given the knockout punch that the COVID-19 virus has delivered. Businesses looking to protect their bottomline have laid off a lot of employees, and many of those who still have jobs aren’t earning as much as they used to. On the other hand, <a href="https://zeenews.india.com/markets/sensex-hits-fresh-record-high-tops-44000-level-2325095.html" data-type="tilCustomLink" target="_blank">Sensex has kissed new highs</a> because corporate profits have surged in the latest quarterly statements. However, as Mahesh Vyas from the Centre for Monitoring Indian Economy, a business information firm, pointed out, between July and September 2020, corporate profits grew over 20%, the rebound in wages was just 3.8% after a sharp fall in the preceding quarter. And this is likely to be a continuing trend. As <a href="https://economictimes.indiatimes.com/news/company/corporate-trends/why-companies-profits-have-rebounded-faster-than-wages-during-covid-pandemic/articleshow/79308002.cms" data-type="tilCustomLink" target="_blank">Vyas put it</a>, “The lockdown has taught companies a lesson or two on running business with fewer human resources. These lessons are unlikely to be forgotten.” That’s bad news for companies looking to sell cars, jewellery, home appliances, and even shares and other financial investments. There is more evidence of where the profits are flowing from. All the companies analysed by broking firm Motilal Oswal, put together, saw a decline of 7% in sales but a 16% jump in profit after tax. Simply put, most of the profit came from cost cutting and not a rise in demand. Consumer insights firm Nielsen recently explained the phenomenon. The Indian consumer is trading down in certain segments, those who can are buying larger packs to save money, and opting for more private labels. And that’s visible in the gross margin ⁠— before costs like wages, advertisements and promotion are deducted ⁠— of some of biggest names in consumer products. <table style="width: 233pt;"> <colgroup></colgroup><col /> <col /> <tbody><tr> <td class="xl63" style="height:45.0pt;width:129pt">Company</td> <td class="xl64" style="border-left-width: initial; border-left-style: none; width: 104pt;">July-Sep gross margin change (basis points)</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Bajaj Consumer</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-74</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Agro Tech Foods</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-183</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Jyothy Labs</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">128</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">ITC</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-163</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Dabur</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">9</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">HUL</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-128</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Emami</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">55</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Marico</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-163</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Nestle</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">56</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Colgate</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">344</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Godrej Consumer</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-57</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Britannia</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">176</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Varun Beverages</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-149</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Tata Consumer Products</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-269</td> </tr> <tr> <td class="xl63" style="height: 15pt; border-top-width: initial; border-top-style: none;">Aggregate</td> <td class="xl63" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none;">-220</td> </tr></tbody></table>Source: IIFL, Change compared to same period last year Rational people spend more on discretionary items like cars and appliances when they save more. And the larger pessimism is visible in <a href="https://rbidocs.rbi.org.in/rdocs/Publications/PDFs/CCS09102023E6F5FCA08F4C4BAB9F599F5D9DC754.PDF" data-type="tilCustomLink" target="_blank">the consumer confidence data</a>, put out by the Reserve Bank of India (RBI), which is breaking the charts on the wrong side. People do not expect to spend more on non-essential items even in the next one year. <div type="image" title="rbi ccs" msid="79317971" hostid="261" caption="&amp;lt;p&amp;gt;Indian consumer&amp;#39;s expectation of spending on non-essential items is abysmally low.&amp;lt;/p&amp;gt;"></div> The Indian consumer’s ability or willingness to spend had started eroding long before the pandemic. And, on an average, there has been a steady decline in household savings in India, to a point that this year’s estimate is the lowest since at least 2012. The pinch is much worse for people who are retired, many of whom living on their savings lying at the banks. The interest on long-term fixed deposits make less money compared to the savings account, which is much lower than the current inflation. Essentially, people are paying banks rent to keep their money safe instead of earning from it. <div type="image" title="India household savings" msid="79318175" hostid="261" caption="&amp;lt;p&amp;gt;India household savings, both financial &amp;lt;span class=&amp;quot;redactor-invisible-space&amp;quot;&amp;gt;and in physical assets like gold, are sharply down in the last five years.&amp;lt;/span&amp;gt;&amp;lt;/p&amp;gt;"></div> This should concern markets as well as policymakers. "GDP is an aggregative indicator of economic activity and hides the extent of human misery and the loss of social and human capital caused by the health crisis. Nonetheless, if the projections hold, the GDP would have fallen approximately 6% below its pre-COVID level and it may take years to regain this lost output,” Deputy Governor of the RBI and a member of the Monetary Policy Committee Michael D Patra recently <a href="https://timesofindia.indiatimes.com/business/india-business/rate-cut-will-depend-upon-moderation-in-inflation-rbi-governor-shanktikanta-das/articleshow/78829858.cms" data-type="tilCustomLink" target="_blank">said</a>. The gloom, too, shall pass eventually. But to experience a boom people need jobs, good wages and a feeling of certainty. And that will only come from new corporate investment that can generate employment. And it has to happen sooner than later. Else, India’s famed demographic dividend would have been squandered. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/from-downward-dog-to-upward-boom-influencer-and-teacher-ira-trivedi-shares-how-virtual-yoga-took-off-during-the-lockdown/articleshow/79317417.cms">From downward dog to upward boom — influencer and teacher Ira Trivedi shares how virtual yoga took off during the lockdown</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/from-downward-dog-to-upward-boom-influencer-and-teacher-ira-trivedi-shares-how-virtual-yoga-took-off-during-the-lockdown/articleshow/79317417.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/remembering-ym-deosthalee-the-man-who-struck-the-right-chord-between-music-and-math/articleshow/79306305.cms">Remembering YM Deosthalee, the man who struck the right chord between music and math</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/remembering-ym-deosthalee-the-man-who-struck-the-right-chord-between-music-and-math/articleshow/79306305.cms"></a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/indra-nooyi-may-be-in-joe-biden-cabinet-heres-a-look-at-her-take-on-some-key-issues-concerning-india-and-us/articleshow/79303469.cms">Indra Nooyi may be in Joe Biden's Cabinet – here's a look at her take on some key issues concerning India and US</a>

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