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The Reserve Bank is unlikely to ease the benchmark policy rate from 6.5% during 2024, given the persisting uncertainty over <keyword id="19999654" type="General" weightage="20" keywordseo="food-inflation" source="keywords">food inflation</keyword>, State Bank of India (<keyword id="19898108" type="General" weightage="20" keywordseo="SBI" source="keywords">SBI</keyword>) chairman C S Setty has recently said. The US Federal Reserve's first cut in <keyword id="20071327" type="General" weightage="20" keywordseo="interest-rate" source="keywords">interest rate</keyword>s in more than four years happened today, triggering central banks in other economies to follow suit. The Fed trimmed the interest rates by 50 basis point trim to its target interest rate range to 4.75-5%. "On the rate front, a lot of central banks are taking independent calls. While Fed rate cut would influence everyone, <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword> would be mindful of the food inflation before taking a call on interest rate cut," Setty, who recently took over the reins of the bank, was noted as saying. "Our view is also that the rate cut during the current calendar year may not happen. Probably, we may have to wait for Q4 (January-March 2025) unless there is a good improvement in terms of food inflation," he added. Notably, RBIs <keyword id="19913109" type="General" weightage="100" keywordseo="Monetary-Policy-Committee" source="keywords">Monetary Policy Committee</keyword> (MPC), headed by RBI Governor Shaktikanta Das is scheduled to meet next month, between October 7-9 and take a call on interest rate. The committee will largely take <keyword id="19999652" type="General" weightage="20" keywordseo="retail-inflation" source="keywords">retail inflation</keyword>, which inched to 3.65% in August, up from 3.54% in July, into account for making rate-related decisions On the other hand, India's wholesale price index (WPI) eased to 1.31% on an annual basis, which is also a 4-month low, down from 2.04% in July. The data, released recently by the government, also highlighted the stickiness of food price inflation, which stood largely undeterred at 3.11% in August, as compared to 3.45% in July. Although WPI rates do not directly impact RBIs decision making, it does affect the retail inflation rates, although it takes time to reflect the same. Says Rahul Agrawal, Senior Economist at ICRA Ltd, “The <keyword id="20198768" type="General" weightage="20" keywordseo="WPI-inflation" source="keywords">WPI inflation</keyword> eased to a four-month low in August 2024, with the fuel and power, core (non-food manufacturing), and crude petroleum and natural gas sub-groups together pulling down the headline WPI print by as much as 70 bps in the month vis-à-vis July 2024. The core WPI inflation dipped to 0.7% in August 2024 from 1.2% in July 2024, amidst a continued softening in global commodity prices. "While prices of most food items have eased further on a month-on-month basis in September 2024, an adverse base would push up the YoY inflation prints for the primary food articles category significantly in the ongoing month, exerting upward pressure to the headline WPI inflation print for September 2024", said Agrawal. The price of the Indian basket of crude oil has averaged 6.0% lower in September 2024 on a sequential basis, touching the lowest levels in 33 months, which would also help contain the uptick in the headline WPI inflation print in the month. We anticipate WPI to touch the 2.0% in September 2024 from 1.3% in August 2024", he continued. Amongst the food articles whose prices dipped during the month were cereals (8.44%), paddy (9.12%), pulses (18.57%) and onions (65.75%), it did little to tame inflation, which continued to stay put in double digits. On the other hand, prices of potato (77.96%) and fruits (16.7%) inched up. The dip in WPI was largely led by slowdown in prices of manufactured food products (3.61%), beverages (1.9%), pharmaceuticals (1.97%) and petrol (4.23%). "While there may not be a one-to-one correspondence between the WPI and the CPI data because of the items, size, number, and relative weights assigned, the CPI data will also down-trend in sync with the RBI’s medium-term target of 4 % for the second time in nearly five years. However high food prices will induce the RBI to be wary", notes Manoranjan Sharma, Chief Economist, Infomerics Ratings.

RBI unlikely to cut interest rate in 2024, food inflation to be deciding factor, says SBI chief Setty

Diversified natural resources company <keyword id="2040264" type="General" weightage="50" keywordseo="vedanta-resources-ltd" source="Orion">Vedanta Resources Ltd</keyword>'s credit profile is not likely to be weighed down by the group's plans to make semiconductors, said S&amp;P Global Ratings. According to the global credit rating agency, <keyword id="99389" type="General" weightage="100" keywordseo="vedanta-resources" source="Orion">Vedanta Resources</keyword>' credit profile will not be weighed down by the group's $20 billion semiconductor manufacturing venture as the investment will be made outside of the company. "The business (semiconductor) will be undertaken in a separate entity under Vedanta Resources' holding company <keyword id="5026635" type="General" weightage="50" keywordseo="volcan-investments-ltd" source="Orion">Volcan Investments Ltd</keyword>," it said. Any potential credit impact of the planned investments in the semiconductor business will depend on the details of the funding plan, which have yet to emerge, the credit rating agency added. "For example, we could watch out for any change in Vedanta Resources' dividend policy, to support servicing of any debt at <keyword id="4055768" type="General" weightage="50" keywordseo="volcan" source="Orion">Volcan</keyword> for the semiconductor business. We believe Vedanta Resources will prudently manage its investments so that it does not put debt servicing at risk," S&amp;P Global Ratings said. According to the credit rating agency, the <keyword id="147780" type="General" weightage="50" keywordseo="vedanta-group" source="Orion">Vedanta Group</keyword>'s investments will also likely happen over a long period of time. "Our rating on Vedanta Resources does not assume any material exposure by the company or its key subsidiary, Vedanta Ltd., to the semiconductor business over the next 12-24 months," it said. Vedanta partnering with Taiwanese group Foxconn recently inked an agreement with Gujarat government to set up a semiconductor venture in the state. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/cheetahs-brought-from-namibia-savour-their-first-meal-in-india-appear-playful/articleshow/94304567.cms">Cheetahs brought from Namibia savour their first meal in India, appear playful</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/enough-wheat-stock-in-india-govt-to-take-action-against-hoarders-if-needed-food-secy/articleshow/94304468.cms">Enough wheat stock in India; Govt to take action against hoarders if needed: Food Secy</a>

Semiconductor business not to 'short circuit' Vedanta Resources credit profile: S&P Global Ratings

Ordering groceries, vegetables and daily essentials is just a WhatsApp away as billionaire <keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>'s e-commerce platform <keyword id="8506093" type="General" weightage="100" keywordseo="jiomart" source="Orion">JioMart</keyword> taps into the popular messaging app to scale up online business in its fight for dominance in the giant Indian retail market with Amazon and Walmart-owned Flipkart. <keyword id="10924" type="General" weightage="20" keywordseo="ambani" source="Orion">Ambani</keyword>'s twin children, Akash and Isha gave a preview of the ordering at Meta's second edition of the Fuel for India event on Wednesday. A new 'tap and chat' option allows users to order groceries through WhatsApp. Delivery is free and there is no minimum order value. Customer can fill their shopping carts within the app and pay either via JioMart or in cash on delivery. "The JioMart experience through WhatsApp is actually, very simply put - 'conversational' in nature. WhatsApp is extremely simple and easy to use; So there's no customer inhibition when ordering for supplies," said Akash. It's extremely intuitive - so there are no barriers to technology. "And digital shopping is now just an extension of messaging via WhatsApp to JioMart, it's all taken care of in a couple of steps effortlessly." Isha said all a customer needs to do is just order away on JioMart. "Bread, butter, vegetables, beverages, everything that you need in your household that day or that week... look up a product, set up a subscription for a regular buy if that's what you want, or get personalized recommendations based on your past purchase history, it's all there," she said. Facebook, now known as Meta, in April last year invested $5.7 billion for a 9.99 per cent in <keyword id="2003276" type="General" weightage="50" keywordseo="jio" source="Orion">Jio</keyword> Platforms, the digital and telecom arm of Ambani's <keyword id="105301" type="General" weightage="20" keywordseo="reliance-industries-ltd-" source="Orion">Reliance Industries Ltd.</keyword> The partnership was aimed at connecting over 400 million WhatsApp users and half a million retailers that Reliance has on its network. And playing a catalyst is cheap data that 425 million subscribers of <keyword id="6354504" type="General" weightage="20" keywordseo="reliance-jio" source="Orion">Reliance Jio</keyword> get. The orders are executed using the network of <keyword id="58448" type="General" weightage="20" keywordseo="reliance-retail" source="Orion">Reliance Retail</keyword>, the biggest brick-and-mortar store chain. Also, repaid users of Reliance Jio can recharge using WhatsApp. "As Jio and Meta teams work closely, we are opening more and more avenues of working together. One such avenue is Jio on WhatsApp, which is simplifying the entire 'prepaid recharge'," Akash said. This, he said, will bring consumers convenience like they've never had before. "Yes, it makes it very simple for anybody to adopt. For example, for older citizens who at times may find it difficult to head outside, this Jio recharge feature through WhatsApp is so helpful! And payments on WhatsApp adds to that ease!" Isha said. Akash said it is really exciting how the end-to-end experience for Recharge through WhatsApp along with the ability to make payments can potentially make the lives of millions of Jio subscribers much more convenient. JioMart delivers from fruits and vegetables to cereal, toothpaste and cooking staples like panner and chickpea flour ordered through WhatsApp. Food and groceries account for nearly half of India's retail spending, which is projected to reach as much as $1.3 trillion by 2025, according to Boston Consulting Group. Interconnected to the entire scheme is Jio's low-priced smartphone that it is offering in association with Google. The phone comes preloaded with the JioMart and WhatsApp apps. Last year, Google invested $4.5 billion for a 7.73 per cent stake in Jio Platforms Ltd. "We believe that small businesses are the bedrock of our country's economic backbone. The pandemic really brought home the truth that small merchant shops, retailers, and small businesses urgently needed to convert their physical brick and mortar stores to digital storefronts," Isha said. The partnership with Meta allowed to quickly leverage the strength of the WhatsApp platform that provides access to over 400 million people. "With an equal number of Jio subscribers it seemed like a natural progression for us to be able to support these businesses not only through a digital connection with their customers online, but also to quickly develop and build very specific digital-commerce solutions," she said. Akash said JioMart currently has over half a million retailers and is growing every day. "We were very clear that the JioMart's unmatched network - both in online and offline retail should be leveraged optimally, given the size of the opportunity." "We continue to be so excited about our partnership with Meta and in collaboration with the WhatsApp team, we intend to build out native features that will not only help users shop seamlessly on WhatsApp but will also help retailers increase stock assortments, improve margins and get them closer to perhaps a larger base of customers, like never before. "They will be able to get new orders in addition to keeping their relationships with their regular user base intact," he added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/apple-working-on-prototypes-of-foldable-devices-but-may-see-one-only-in-2024/articleshow/88298981.cms">Apple working on prototypes of foldable devices, but may see one only in 2024</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/economy/news/india-makes-a-10-billion-bet-to-woo-chip-makers-at-home/articleshow/88298295.cms">India makes a $10 billion bet to woo chip makers at home</a>

JioMart taps WhatsApp to deliver groceries, vegetables

<ul><li>A 50:50 joint venture between Connaught Plaza Restaurants Pvt. Ltd (CPRL) and <keyword id="6378093" type="UNKNOWN" weightage="20" keywordseo="mcdonalds">McDonald's</keyword> India runs 169 outlets in North and East India.</li><li>In August 2017, McDonald’s terminated its agreement with CPRL, but the Indian venture is still operating while the dispute is being examined by the courts. </li><li>Domino’s Pizza operator <keyword id="129118" type="COMPANY" weightage="20" keywordseo="Jubilant-Foodworks-Ltd-">Jubilant FoodWorks Ltd.</keyword> profits more than tripled to 660 million rupees in the quarter ending December 2017. </li><li>Domino’s Pizza is slated to open up at least 30 additional outlets to add to its 1,127-strong network across 265 cities this year. </li><li>The market for fast-food in India is expected to expand 5.8 percent to $21.2 billion this year.</li></ul>While the world is veering towards healthy foods, Indians have not deterred from their dedication to their Domino’s chicken tikka pizza - a point made amply clear by the fact that parent company Jubilant FoodWorks’ profit more than tripled to 660 million rupees in the quarter ending December 2017. This may be because Indians prefer pizzas to burgers, but the more plausible reason could be that Domino’s is profiting off the bitter legal battle that McDonald’s franchise operator in India is embroiled in. The McDonald’s Downfall Led by <keyword id="193724" type="PERSON" weightage="20" keywordseo="Vikram-Bakshi">Vikram Bakshi</keyword>, Connaught Plaza Restaurants Pvt. Ltd (CPRL), a 50:50 joint venture between him and McDonald's India, runs 169 outlets in North and East India. A nasty legal battle ensued when McDonald's proposed to buy out Vikram Bakshi’s (MD, Connaught Plaza Restaurants Pvt. Ltd.) stake in 2008. They offered him $5 to 7 million but Bakshi wanted $100 million after Grant Thornton valued CPRL at $331million. In August 2013, McDonald’s ousted Bakshi as managing director of CPRL over alleged financial irregularities. Bakshi in-turn filed a complaint with the Company Law Board (now the National Company Law Tribunal or NCLT) in September 2013 claiming that McDonald’s was trying to strong-arm him into selling his share to them at a lower valuation. In July 2014, <a href="https://www.livemint.com/Companies/PJVjPgc9oU6dtUFoNbRfcN/NCLT-reinstates-Vikram-Bakshi-as-MD-of-McDonalds-joint-vent.html">NCLT reinstated Vikram Bakshi as MD</a> of CRPL. In June 2017, <a href="https://qz.com/1058465/want-to-know-why-mcdonalds-may-shut-down-in-half-of-india-ask-its-first-indian-business-partner/">43 outlets of the fast-food chain were closed</a> in the capital following the expiry of its eating house licences. In August 2017, McDonald’s terminated its agreement with CPRL, though the Indian venture has kept running its 169 outlets while the dispute is being examined by the courts. In the middle of all this, <a href="https://timesofindia.indiatimes.com/business/india-business/over-half-of-mcds-outlets-close-down-in-north-east-india/articleshow/62246480.cms">in December 2017</a>, burger-loving Indians woke up to a rude shock when 84 McDonald’s in North and East India were shut down after its supply chain partner Radhakrishna Foodland discontinued supplies due to the alleged non-payment of dues. Most of the outlets subsequently reopened a month later. “Our growth has completely petered off,” Vikram Bakshi told The Economic Times. However, not all is bleak for McDonald’s. <keyword id="6211434" type="COMPANY" weightage="20" keywordseo="Westlife-Development-Ltd-">Westlife Development Ltd.</keyword>, the other McDonald’s franchise partner that runs 271 stores in the Southern and Western parts of India plans to expand to as many as 500 outlets by 2022, according to a company spokeswoman. Domino’s Jubilant Story With all this unfolding, it is but natural that rivals like Domino’s, KFC, Burger King and Subway have been able to make hay while McDonald's sun has dimmed. In 2013, while Bakshi was busy fighting McDonald’s, Domino’s conveniently overtook McDonald’s as India’s largest fast-food brand. According to <a href="https://economictimes.indiatimes.com/industry/cons-products/food/mcdonalds-has-a-legal-problem-in-pizza-loving-india/articleshow/63498024.cms">the Economic Times</a>, shares of India’s Domino’s Pizza operator Jubilant FoodWorks Ltd. have more than doubled in the past year. And this year, it is slated to open up at least 30 additional outlets to add to its 1,127-strong network across 265 cities. According to a transcript of a conference call between analysts and investors and Chief Financial Officer (CFO) of Jubilant FoodWorks, Pratik Pota, the CFO said, “There is significant potential for the pizza business in the country, and we are committed to leveraging that potential.” As a result of India’s growing economy and its youth population, the market for fast-food in India is expected to expand 5.8 percent to $21.2 billion this year -- a 50 percent jump since 2008 -- according to Euromonitor International, a market research firm. Until McDonald’s promoters in India can resolve their dispute, which looks unlikely at the moment, its competitors can continue to forge ahead.

Battle of the fast food brands: How Domino’s is cashing-in on McDonald’s weak position

Advertising sector watchdog <keyword id="169284" type="ORGANIZATION" weightage="20" keywordseo="ASCI">ASCI</keyword> has rapped <keyword id="6356684" type="UNKNOWN" weightage="20" keywordseo="patanjali">Patanjali</keyword> Ayurved for "false and misleading" claims in its various advertisements , including for its hair oil and washing powder brands. 
 
The watchdog has ruled that the advertisements of the group associated with Yoga Guru Ramdev "unfairly denigrates" other products in the market. 
 The Customer Complaints Council (CCC) of <keyword id="382559" type="ORGANIZATION" weightage="20" keywordseo="Advertising-Standard-Council-of-India">Advertising Standard Council of India</keyword> (ASCI) has also upheld complaints against advertisements by Johnson &amp; Johnson, Amazon and ITC, among other companies. 
 
In March, the CCC received 156 complaints, out of which it upheld as many as 90 complaints, terming them as "false and misleading". The upheld complaints included 32 in the education category, 30 in the healthcare and personal care category, and further 10 in the food and beverages category. 
 The CCC found Patanjali's advertisement claim for its product <keyword id="3380075" type="UNKNOWN" weightage="20" keywordseo="Patanjali-Kesh-Kanti-Natural-Hair-Cleanser-and-Oil">Patanjali Kesh Kanti Natural Hair Cleanser and Oil</keyword> that "mineral oil is carcinogenic in nature and may cause cancer" was false and misleading by ambiguity and by gross exaggeration. 
 
It also upheld complaints against Patanjali Ayurved's Patanjali Kachi Ghani Mustard Oil . 
 
"The advertisement's claims 'Other than Kacchi Ghani process most of the other edible refined oils and mustard oil are made using neurotoxin Hexagon solvent extraction process. To make profits at the cost of consumers' health many companies mix cheap palm oil in mustard oil", were not substantiated and the claims were misleading," it said. 
 
"The statement also unfairly denigrates other oils/ mustard oil," the advertising watchdog added. 
 
The advertising watchdog also upheld complaint against Patanjali Ayurved's Patanjali Herbal Washing Powder, Cake and Dishwash Bar. 
 
Johnson &amp; Johnson Ltd advertisement's claim on Benadryl DR was pulled up. CCC ruled that the claim "sookhi khansi ko dobara aane se roke (meaning - stops dry cough from reoccurring') is an absolute claim and was not substantiated...The claim is misleading by exaggeration". 
 
FMCG firm ITC was pulled for its advertisement on Aashirvaad Multigrain Atta. 
 
"The advertisement's claim 'India's No 1 Atta' is misleading by ambiguity as the claim support was for the mother brand Aashirvaad whereas the advertised product was only one variant i.e. Aashirvaad Atta with Multigrains. Also, the disclaimer was not as per Nielsen criteria," it said. 
 
Complaint against Kalyan Jewellers was upheld for making 'substantiated claim and misleading by exaggeration" that "Kalyan Jewellers is the biggest jewellery showroom in the world."

Patanjali rapped for 'false and misleading' hair oil, washing powder ads

For the past four months, <keyword id="157271" type="COMPANY" weightage="80" keywordseo="PVR-Ltd">PVR Ltd</keyword>'s Group President, Pramod Arora, has been clocking up air miles as he travelled the world looking for inspiration. In fact Arora travelled so far and wide that he could be soon be dubbed Ryan Bingham - the character played by <keyword id="11804" type="PERSON" weightage="40" keywordseo="George-Clooney">George Clooney</keyword> in the film Up in the Air. 
 
Multiplexes are generally not known to be citadels of innovation but in a country where cricket and movies are a religion it is important to keep pioneering to stay relevant. At the heart of this exercise is one of PVR's one of the most ambitious and largest projects till date - the 15 screen 'Superplex' in Noida. 
 
"As plans for the Superplex were drawn, I visited every cinema hall in every part of the world to experience the best practices that we can pick up. At the end I realized cinema industry may not be the correct industry to look at. By looking at the cinema industry we realized that either we were ahead of what others were doing or at par with what they were doing," says Arora. 
 Arora turned elsewhere for insights. "In terms of benchmark we decided to compare ourselves to the hospitality industry and also looked at companies like <keyword id="6354427" type="CITY" weightage="40" keywordseo="Apple">Apple</keyword>. People say there are no similarities between Apple and the cinema industry but there are immense commonalities. 
 
Arora says the trick lies in making sure the consumer is deriving satisfaction from the product you are selling in the minimum possible time and how a company is able to retain the consumer, once he is serviced, for the maximum possible time. "In this minimum and maximum lies your ability to monetize and this is what we are trying to master. For us it was picking up the thread from various industries across the globe," says Arora. 
 
PVR now plans to invest Rs. 250 crore to add 100 new screens this fiscal. It currently has 444 screens in 101 properties spread across 43 cities and targets to touch 1,000 screens by 2017-18. The Superplex is expected to be operational by end of March 2015 and the 15 screen complex would cost the company about Rs. 50 crore to develop. 
 
Inception: 
 According to a <keyword id="50041" type="CITY" weightage="40" keywordseo="KPMG">KPMG</keyword> report Multiplexes, as of today, account for approximately 25 percent of the total number of screens in the country with a low screen density of 8 screens per million in comparison with 117 per million in the US. "Given the low screen penetration, India has the potential to significantly increase the number of existing multiplex screens in the country over the next decade without causing an oversupply of screens," says the KPMG report. 
 
In 2013, the industry added approximately 150-200 screens, with major growth coming from expansion of multiplexes in tier II and III cities. Occupancy levels for major multiplexes players have risen from approximately 23-27 percent in 2011 to more than 30 per cent in 2013. 
 
"In India movie watching theoretically begins from the age of 5. If we look at cinema halls we will see that we do not provide anything for five year olds except sit on their mother's lap and cry or disturb others around them. We have realized that the categories of ages 5-9 need to be addressed," says Arora. 
 Arora says PVR Superplex will have a special auditorium designed called the 'PVR Playhouse'- an exclusive fun and <keyword id="4578" type="COMPANY" weightage="40" keywordseo="entertainment">entertainment</keyword> destination for children. PVR Playhouse will witness a space exclusively for kids to be at their natural best. The auditorium will have half dim light - brighter lighting than other formats, cartoon characters both on and off screen and special seating facilities like bean bags to create a comfortable environment. "For younger kids, PVR will provide visual attractions like play seats, playful interiors and the middle alley will resemble a slope just like a slide for kids to enjoy. Keeping in mind the safety of kids, the flooring will have a rubberized surface for an easy topple," says Arora. 
 
PVR will also operate on the opposite end of the age spectrum as the new multiplex would also have a different screen for senior citizens. 
 
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PVR is well aware that technology changes fast and multiplexes in days to come may not be the preferred medium for cinema as home theater screens are becoming better and bigger. "For example HD has become table stake today and we have understood that if we do not make our medium more immersive, it is not really going to deliver the bang for the buck for the consumer," says Arora. 
 For an immersive movie viewing PVR is addressing the sound and the elctroacoustics in a much more superior way. "<keyword id="16674" type="PERSON" weightage="40" keywordseo="George-Lucas">George Lucas</keyword> has done this in the US for time immemorial but why people have not taken it up is because it is expensive," says Arora. 
 
He adds that PVR took two years to re-engineer the technology at a fraction of a cost. "For example if it rains in the movie, you currently hear it from the surround system or from the speakers behind the screen. For you to be able to feel rain the sound must come from the top and when it falls to the ground, the sound must come from the bottom. From an engineering perspective, it is a very big problem but we have worked on it and managed to reduce the cost associated with it," says Rao. 
 
With respect to screens the ones in cinemas today is flat. PVRs new screen would be curved or concave, which would provide a more immersive and greater viewing area. PVR says there is a perceptible difference in viewing. "These Silver screens are more expensive to the tune of about 200 percent but since it lasts for about 20 years so it's worth it," says Arora. 
 
Five formats and a playhouse: 
 
This will be the first time PVR brings all its brands under one roof. PVR currently runs five brands ranging from IMAX, ECX (enhanced cinema experience), PVR Premier, Directors Cut, PVR 4DX in India and with the addition of PVR Playhouse will operate six formats, all under one roof. "PVR stands as a strong mother brand and we were looking to introduce the other brands of cinemas. IMax is one of them and then we go on incorporating multiple other brand that PVR straddles under one roof. This way failure of one brand will never be able to define or shape the final outcome of the mother brand," says Arora. 
 According to Emkay Global Financial Services research report, PVR enjoys a <keyword id="34527" type="UNKNOWN" weightage="40" keywordseo="market-share">market share</keyword> of 20-22 percent and 30-35 percent of <keyword id="143" type="CITY" weightage="40" keywordseo="Bollywood">Bollywood</keyword> and Hollywood box-office film revenues, respectively. This provides better negotiating power for content sharing with distributors/producers. Its right location strategy and aggressive expansion plans would continue to drive footfalls and revenues, going forward. Emkay also sees robust growth in F&amp;B and advertisement, which would help drive revenue/EBITDA at a <keyword id="107168" type="ORGANIZATION" weightage="40" keywordseo="CAGR">CAGR</keyword> of 17 percent/23 percent over FY14-16 (estimate), resulting in healthy cash generation. 
 
Chocolat: 
 
As discretionary spends on eating out is on a rise, if cinemas go on serving the consumer with Soda and popcorn, it is not going to take them far. "The consumer is ready to pay money but they need quality and service. In a cinema environment it is challenging to provide gourmet chef driven menu but we have decided to push ahead. We have decided to come up with a menu that change with the season and that is being mastered now and by the time the complex is open, he would be ready to cater to all," says Arora. 
 
A multiplex has limited retail space to display food items so PVR will push information on food on cinema goers' mobile phones and through specialized tablets. "We will have a large base kitchen in the multiplex and once you order your food through the PVR app or through the tablets we will have in the multiplex, fresh food will be delivered to your seats. Different strokes for different folks as senior citizens will get large plasma screens to make their food choice," says Arora. KPMG says currently, an exhibitor's revenue comprises of 70 percent of ticket sales, 20 percent of food and beverages and 10 percent of cinema advertising. 
 
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A. I. Artificial Intelligence: 
 
Major corporate houses have multiple Customer Relationship Management (CRM) systems running but when it comes to engagement most companies in India have been going wrong. "Forget about going into predictive intelligence, many have not even been able to identify the sex of the individual whose mobile number they have in their database," says Arora. 
 
The mobile app of PVR, developed in-house, now uses predictive intelligence where it knows what you have been watching, what you like, what you did not and a plethora of data around an individual's movie watching habits. "We envisage a situation where you are a part of a community that wants to watch a movie like Mughal-e-Azam, which is not running in the cinemas; you should be able to book a cinema for that movie if say 60 such individuals decide to watch it on a particular date and time," says Arora.

Lord Of The Screen: How PVR Is Innovating To Stay Ahead

<ul><li>Dabur has launched its first organic product. </li><li>As per the company statement, Dabur <keyword id="3135785" type="PERSON" weightage="20" keywordseo="Organic-honey">Organic Honey</keyword> comes with the ‘promise of being completely unprocessed and unpasteurized.’</li></ul>A recent study by the Centre for Science and Environment (CSE) put the honey market and the intense competition in the limelight. It found rampant adulteration in honey sold by major Indian brands, with 77% of samples failing purity tests for sugar syrup adulteration. Following the controversy, <keyword id="6373748" type="DOMAIN" weightage="20" keywordseo="dabur-india">Dabur India</keyword> Limited has now partnered with Amazon India to launch Dabur Organic Honey, which is the first organic product from the house of Dabur. Dabur Organic Honey claims to come with the ‘promise of being completely unprocessed and unpasteurized.’ Commenting on the launch, Prashant Agarwal, Marketing Head- Health Supplements, Dabur India Ltd said, “Organic is not just a choice of products. It is gradually becoming a mainstream lifestyle. In terms of consumption, the focus on natural and other products is on the rise. We are confident that people who conform to this lifestyle would definitely find the Dabur Organic Honey a much-needed addition to their daily routine. Dabur Organic Honey is completely unprocessed and unpasteurized with only filtration done to remove any impurities. We are happy to have partnered with Amazon to take this product to our consumers, who have made <keyword id="425049" type="PERSON" weightage="20" keywordseo="Dabur-Honey">Dabur Honey</keyword> as World’s No. 1 honey brand.” Saurabh Srivastava, Director – Category Management, Amazon India said “We are happy to bring the new ‘Dabur Organic Honey’ for customers on Amazon.in. With the new Dabur Organic Honey, we aim to strengthen our portfolio and provide our customers a vast selection of organic products from a trusted brand like Dabur. We continue to give our customers an unmatched value, fast and reliable delivery and a great shopping experience." “Today Indian consumers’ demand for Organic food has increased and with fitness and healthy lifestyle at the forefront, we as a brand have developed an Organic version of our Star product Dabur Organic Honey which is 100% pure and natural. The process of procuring the Organic Honey from remote rainforests has been the most rewarding experience for us as a brand and we make sure we pass on the unadulterated and unpasteurized product to our consumers, as it is. So yes, I am proud to say that we select apiaries within close proximities of only organic farmlands managed without chemicals or pesticides to get our hero product. The product is exclusively available on Amazon at INR 235 for a 300g pack,” said Smerth Khanna, Business Head – Ecommerce, Dabur India.

Following the honey adulteration controversy, Dabur launches 'Organic Honey' which is 'untouched by chemicals'

New Delhi, Feb 27 () Biotechnology major Biocon on Thursday said the US health regulator has issued a Form 483 with two observations after inspecting its Bengaluru-based active pharmaceutical ingredients (API) facility. The US Food and Drug Administration (USFDA) had conducted a post approval and GMP inspection of company's small molecules API manufacturing facility at Biocon campus in Bengaluru from February 20 to February 26, 2020, a Biocon Ltd Spokesperson said in a regulatory filing. "At the conclusion of the inspection the agency issued a Form 483, with two observations, which are procedural in nature," it added. The company is confident of addressing these observations expeditiously and will respond to the FDA with a corrective and preventive action plan (CAPA) in a timely manner, the spokesperson said. The US health regulator issues observations by means of a FDA Form 483 notifying the company's management of objectionable conditions at the facility inspected. Biocon shares on Thurday ended 0.17 per cent up at Rs 299.20 apiece on the BSE. MSS SHWSHW

Biocon gets two observations from USFDA for Bengaluru-based API plant

New Delhi, Mar 31 () Oil and Natural Gas Corp (ONGC), Indian Oil Corp (IOC) and other public sector oil companies have contributed over Rs 1,000 crore to the Prime Minister CARES Fund to help in the fight against COVID-19 pandemic. ONGC was the top contributor with Rs 300 crore, followed by IOC chipping in Rs 225 crore. Privatisation-bound Bharat Petroleum Corp Ltd (BPCL) provided Rs 175 crore, while Hindustan Petroleum Corp Ltd (HPCL) chipped in Rs 120 crore. Petronet LNG Ltd gave Rs 100 crore, gas utility GAIL Rs 50 crore and Oil India Ltd another Rs 38 crore. ONGC Chairman and Managing Director Shashi Shanker said the company gave Rs 300 crore from its corporate social responsibility (CSR) funds while the company employees contributed two days' salary, totalling Rs 16 crore, to the fund. "We are maintaining oil and gas production by practicing social distancing," he said adding besides contributing to the PM fund, company employees and their families have feeding hungry daily wagers. In Vadodara, company employees not just fed daily wagers but also handed over 300 ration kits (8 kg each) to the district police chief for distribution. At Dehradun, the company distributed 10,000 sanitizers and an equal number of face masks to poor slum dwellers. In Noida, ONGC employees at their personal level handed over 100 food packets to the police, he said. "IndianOil as a responsible corporate is contributing Rs 225 crore to #PMCaresFund specially created to combat COVID-19 pandemic," the company said in a tweet adding its employees are also contributing two days' of their salary towards the fund. In a statement, Petronet LNG Ltd said it has made a contribution of Rs 100 crore to the PM CARES fund. "While ensuring a seamless supply of LNG to India, the company stands with the nation and has also contributed Rs 1.53 crore to various health institutions for procuring personal protective equipment for healthcare workers at Bharuch in Gujarat and Kochi in Kerala," it said. BPCL in a statement said it continues to operate units, feeding the nation with fuel and LPG. "We want to assure everyone that we have enough of LPG stock, across our network. All our LPG plants have enough manpower to operate them and all our distributors are making all efforts to deliver Bharatgas cylinders at the doorstep of our consumers," it said. "BPCL and its subsidiaries commit Rs 175 crore towards PM CARES fund to help the government to combat coronavirus, as our humble contribution towards the well-being of the society," it said. Oil India Ltd Chairman and Managing Director Sushil Chandra Mishra said the company is contributing Rs 38 crore to the fund. "OIL strives not only towards energy security of the nation but also is resolved in rising to the occasion to combat this difficult time." Besides, employees of OIL have contributed one day's salary to the PM fund, he said. GAIL, besides contributing Rs 50 crore to the PM Fund, said its employees have contributed 2 days' salary amounting to Rs 3.8 crore. Further, Numaligarh Refineries Ltd has contributed Rs 25 crore, OIDB Rs 17 crore, MRPL Rs 2 crore, CPCL Rs 2 crore and Engineers India Ltd Rs 1 crore. "I am grateful, and delighted, to announce that the oil and gas establishment is ready with a contribution of Rs 1031.29 crore by the PSUs and other oil JVs for the PM-Cares Fund. Additionally, Rs 61 cr has been contributed by colleagues of PSUs from their salaries for the #PMCARES," Oil Minister Dharmendra Pradhan tweeted. "I am humbled to see the commitment of our people of oil and gas PSUs when the world faces one of the biggest crises. I am proud to be a part of this family," he added. ANZ ANZ ANSANS

ONGC, IOC, other oil cos contribute over Rs 1,031 cr to PM COVID-19 fund

New Delhi, Mar 5 () A venture fund is being provided by the Ministry of Development of North Eastern Region (DoNER) for the growth of entrepreneurship and to encourage start-ups in the region, Union Minister Jitendra Singh said on Thursday.Singh informed Rajya Sabha that the North East Venture Fund (NEVF) was formally launched in 2017 with joint efforts of the Ministry of DoNER and North Eastern Development Finance Corporation Ltd (NEDFi) to encourage start-ups and empower entrepreneurs from the North Eastern Region (NER).It is a close-ended fund with capital commitment of Rs 100 crore and the investment ranging between Rs 25 lakh and Rs 10 crore per venture, which is long term in nature with investment horizon of 4-5 years, he said in reply to a written question.Singh said the NEVF team has vigorously been participating in various events, seminars, conclaves, etc., across the Northeastern region and interacted with start-ups, both on one-on-one and group basis, to promote the fund.The team members have also interacted with various venture funds, incubators in the venture capital eco-system, he said.Singh, Minister for DoNER, said over the last three years, 212 enquiries and applications were received across sectors like agri-allied, healthcare, biotechnology, education, food processing, tourism, logistics, parking, aggregation of services, entertainment, etc.Among these, 40 proposals have been taken to the investment committee for perusal and 22 proposals have received investment commitment.The NEVF till date has made a disbursement of Rs 18.16 crore to 12 start-ups, he said. ACB ACB RDMRDM

Venture fund provided by govt for start-ups, entrepreneurship in NE

New Delhi, Apr 23 () Global FMCG major Unilever on Thursday said its growth in India has been hit by both slowing market and the coronavirus-forced lockdown that led to a halt in production and shipping activities for a number of days.The Anglo-Dutch firm has also withdrawn its growth and margin outlook for 2020, citing the impact of the pandemic and subsequent containment measures taken by authorities and a shift in demand patterns of the geographies where it operates.Though the FMCG major has witnessed upswings in sales of hygiene and in-home food products, the crisis has affected particularly its food service and ice cream business, Unilever said in its trading statement for the first quarter ended March 31.Unilever also witnessed a major impact on the businesses in China and India, two of its major markets where restrictions were imposed by the respective governments to contain the spread of COVID-19. "China declined as a result of the downturn in food service, out of home ice cream and retail sales during the lockdown. Growth in India was impacted by both the slowing market and the lockdown implemented at the end of March, which stopped production and shipping for a number of days," Unilever CEO Alan Jope said in a statement.He further said, "Underlying sales growth was zero per cent with 0.2 per cent from volume and negative 0.2 per cent from price. Developed markets grew 2.8 per cent whilst emerging markets declined 1.8 per cent."According to Jope, demand patterns are changing. "As the crisis hits countries around the world, we see upswings in sales of hygiene and income food products, combined with some household stocking, and near cessation of out of home consumption which is particularly affecting our food service and ice cream business," he said.The FMCG major is adapting to new demand patterns and are preparing for lasting changes in consumer behaviour, in each country, as it moves out of the crisis and take steps towards recovery, according to the Unilever CEO."We will continue to adapt throughout this crisis. However, the unknown severity and duration of the pandemic, as well as the containment measures that maybe adopted in each country, mean that we cannot reliably assess the impact across our markets and our business. We are therefore withdrawing our previous growth and margin outlook for 2020," said Jope.While talking about the Indian market, where it operates with subsidiary Hindustan Unilever Ltd (HUL), he said "seven days of national lockdown at end of Q1" affected the trading, adding that there was supply chain disruption following the lockdown."Lockdown measures in India commenced from mid-March, followed by a strict national lockdown, severely limiting the flow of goods and leading to a decline in South Asia. Indonesia and Vietnam performed strongly although the Philippines declined across divisions as restrictive social measures were put in place," said Unilever.However, it also added that the Indian market had slowed even before the strict lockdown began at the end of March.The company said its tea segment business declined, impacted by India and out of home channel closures. "The strategic review of our tea business is ongoing".Skin care business also took a hit amid lockdown conditions. "Vaseline continued to perform well, with mid-single digit growth, and we launched anti-bacterial hand cream in the UK as well as a new Pro Derma Clinical range in China. The Prestige portfolio was impacted by health and beauty channel closures in many markets. Whilst hair care (segment) grew in the USA, the lock-down impacted the portfolio in China and in India," it said.Deodorants grew in mid-single digit, with strong performances from our RexonaClinical range and Dove deodorants. Its oral care grew, with growth from natural toothpastes and bamboo toothbrushes."Negative pricing was primarily driven by India following price reductions in the previous quarter," he said.Meanwhile, Unilever informed that HUL completed its merger with GlaxoSmithKline Consumer Healthcare Limited (GSKCH), on April1."The transaction is in line with Unilever's strategy to evolve the Foods &amp; Refreshment portfolio into higher growth segments," said HUL.As per the deal, HUL has also announced to acquire popular health food drink brand Horlicks in a Rs 3,045 crore deal from GSKCH using the option available in the original agreement between HUL and GSK.Besides, other Health Food Drinks (HFD) brands of GSKCH -- Boost, Maltova and Viva -- had come to HUL's portfolio by virtue of the merger, making it a leading player in the segment.According to regulatory filings, HUL would declare its Q4 (Jan-March) earnings results on April 30. KRH RKL MKJ

Unilever withdraws growth outlook, says India business impacted amid lockdown

New Delhi, Apr 18 () State-owned gas utility GAIL India Ltd on Saturday said it is in readiness to resume construction of various hydrocarbon infrastructure projects of national importance post lifting of the COVID-19 lockdown. "In order to kick start the crucial infrastructure projects to enable expansion of the gas based economy, GAIL along with its subsidiary and joint venture companies has chalked out catch-up plans for various locations and work fronts to ensure timely completion and avoid any slippages," the company said in a statement here. Before the March 25 nationwide lockdown stopped all construction activities, GAIL was building multi-crore gas pipelines to connect fuel sources with consumption centres as well as setting up city distribution networks to sell CNG to automobiles and piped cooking gas to households. "Graded measures in the short to medium term shall be rolled out starting from April 20 with the support of local administrative authorities across the states," the company said, adding it has facilitated arrangements for continued stay of the migrant labourers working at various sites/camps during the lockdown period for ensuring safety of all concerned. Detailed SOPs / protocols have also been devised for ensuring hygiene and social distancing norms, promoting use of masks at the project sites and work stations in compliance with the instructions/ guidelines issued by the Government of India, it said. In parallel, GAIL has also maintained safe and uninterrupted supplies of LPG to oil marketing companies and natural gas to the crucial downstream utilities such as fertilizer, power, refineries and city gas distribution, the statement said. "Management of the company is in regular communication with the nodal ministry to seek guidance on issues requiring support for resuming full-fledged activities, post the phase of lockdown. Key stake holders are also kept informed on the current developments as well as the proposed line of action under GAIL's complete readiness plan for returning to normalcy in the near term," it said. Besides ensuring operational commitments, GAIL and its employees have been at the forefront in fighting this disease by contributing about Rs 54 crore to the PM CARES Fund. In addition, GAIL has so far provided support aggregating over Rs 3.5 crore to various district administrations across the country for procuring PPE, ventilators, masks and other medical equipment. Distribution of food packets and ration kits are also being undertaken for extending immediate support to the marginalised and needy sections of the society at many locations, it added. ANZ ABMABM

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