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<ul><li>FMCG giant HUL’s shares reported a decline of over 6% on Thursday.</li><li>This comes a day after the company reported a 2.33% decline in consolidated net profit in Q2.</li><li>The stock tanked 6.59% to ₹2,483.95 on the NSE.</li></ul>Shares of FMCG major <keyword id="20002610" type="General" weightage="20" keywordseo="Hindustan-Unilever" source="keywords">Hindustan Unilever</keyword> Ltd (HUL) on Thursday tumbled over 6% after the firm reported a 2.33% decline in consolidated net profit for the second quarter ended in September. The stock tanked 6.59% to ₹2,483.95 on the NSE. The stock emerged as the biggest laggard among the Sensex and Nifty firms during the morning trade. Hindustan Unilever Ltd on Wednesday reported a 2.33% decline in consolidated net profit at ₹2,595 crore for the second quarter ended in September 2024, impacted by moderation in demand from the urban market. The company had logged a net profit of ₹2,657 crore in the July-September quarter a year ago, HUL said in a regulatory filing. However, revenue from product sales was up 2.36% at ₹15,703 crore in the September quarter, from ₹15,340 crore in the year-ago period, HUL which owns power brands such as Surf, Rin, Lux, Pond's, Lifebuoy, Lakme, Brooke Bond, Lipton and Horlicks said. "In the September quarter, <keyword id="21419477" type="General" weightage="20" keywordseo="FMCG-demand" source="keywords">FMCG demand</keyword> witnessed moderating growth in urban markets, while rural continued to recover gradually. In this context, we delivered a competitive and profitable performance," HUL CEO and Managing Director Rohit Jawa said. HUL reported an underlying sales growth of 2% and underlying volume growth of 3%. Total expenses were at ₹12,581 crore in the September quarter, up 3.03% year-on-year. HUL's total income, which includes other income, was up 2.14% to ₹16,145 crore in the September quarter of FY25. Addressing an earnings call, HUL CFO Ritesh Tiwari said, "Two thirds of our business we do in urban areas, and one-third we do in rural areas … we are seeing growth in the urban market moderating. We are seeing rural growth recovery is gradual … it impacts all the categories that we have." On the outlook, he said, "In the near term, we expect demand trends to be stable with no further acceleration in pace of growth." In this context, Tiwari said, "Our focus remains on driving competitive volume-led growth, while continuing investments behind our brands and strategy priorities … If commodity prices remain where they are, we expect a low single digit price growth in the near-term." With inputs from PTI. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms">Afcons Infrastructure IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms">UPI refund to digital arrest scam, here are some online scams you need to be aware of</a> <a href="https://www.businessinsider.in/stock-market/news/waaree-energies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114508632.cms">Waaree Energies IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Hindustan Unilever shares tumble over 6% post Q2 results

India is celebrating <keyword id="23288581" type="General" weightage="20" keywordseo="Dhanteras" source="keywords">Dhanteras</keyword> today, even as the public remains cautious about adding gold's glitter to their portfolios, given the metal's sky-high prices. <keyword id="19910265" type="General" weightage="100" keywordseo="gold-prices" source="keywords">Gold prices</keyword> went past the Rs 81,000 mark today in Delhi. Per IBJA (<keyword id="20397944" type="General" weightage="20" keywordseo="India-Bullion-and-Jewellers-Association" source="keywords">India Bullion and Jewellers Association</keyword> Ltd.), the cost of 24K gold stood at Rs 7,885/gram today, while 22K gold was priced at Rs 7,695/gram. While jewelers anticipate some increase in customer footfall today, between afternoon and late evening, the All India Gem and Jewellery Domestic Council expects sales volumes to remain steady at around 20 tons. However, per their estimates, sales this year might be down by 5% compared to last year. The <keyword id="19921618" type="General" weightage="20" keywordseo="Confederation-of-All-India-Traders" source="keywords" meta.keywordsubtype="org" meta.entityname="Confederation of All India Traders" meta.hostid="261" meta.entityid="Confederation of All India Traders">Confederation of All India Traders</keyword> (CAIT) projects nationwide retail trade worth Rs 50,000 crore during this Dhanteras. Even quick-commerce companies are cashing in on the Dhanteras sentiment. While Blinkit has partnered with Joyalukkas and Malabar Gold and Diamonds to deliver gold and silver coins in 10 minutes, Zepto has teamed with Augmont and Malabar for the same. Per media reports, Swiggy Instamart has partnered with Muthoot Exim and Malabar, while BigBasket has tied up with Tanishq. Legend has it that it was on this day that Lord Dhanvantari, the deity of health, appeared today, making brass utensils particularly auspicious for purchase. People also seek blessings from Lord Ganesha, Goddess Lakshmi, and Lord Kuber, and it is considered auspicious to buy gold and silver jewelry, utensils, kitchenware, vehicles, garments, and electronics on this day. <h2>The appreciation of gold</h2> Gold has had a great run this year, having a YTD (yield-to-date) of 24%. Despite high prices, the demand for gold this festive and wedding season is expected to remain buoyant in India. The yellow metal's demand as a haven has jumped up significantly in recent times, owing to <keyword id="19955176" type="General" weightage="20" keywordseo="geopolitical-tensions" source="keywords">geopolitical tensions</keyword> like the ongoing Israel-Hamas conflict. Moreover, with governments across the world trying to tame inflation and boost spending by way of rate cuts, gold is increasingly being seen as an effective hedge against inflation. Experts suggest that the demand is set to remain elevated for the times to come. "The immediate outlook for gold remains robust, supported by the recent import duty reduction from 15% to 6%, which has already stirred significant market activity with imports doubling year-over-year. Despite price changes, the traditional festive and wedding seasons continue driving strong demand, with consumers adapting their purchasing patterns," says Vikas Singh, Managing Director &amp; CEO of MMTC-PAMP. "Looking ahead, multiple structural factors paint a positive long-term picture. There is an overall trend of increasing gold holdings providing sustained price support. While physical gold remains paramount, there's increasing interest in gold investments, particularly among urban consumers," he continues. <h2>How to check if your gold is pure </h2>First, always make sure to buy only hallmarked physical gold. "Hallmarking is the accurate determination and official recording of the proportionate content of precious metal in the precious metal article. Hallmarking provides consumers with third-party assurance and satisfaction that they get the right purity of gold (or silver), the government noted in a press release yesterday, urging customers to buy only <keyword id="23040621" type="General" weightage="20" keywordseo="hallmarked-gold" source="keywords">hallmarked gold</keyword> and silver. Hallmarked gold is characterized by a few specific marks, like the logo of BIS (Bureau of Indian Standards), the jeweler's mark, and that of the hallmarking center. During the process of hallmarking, each piece of gold or silver is assigned a 6-digit alphanumeric code or HUID (Hallmark Unique Identification). Download the BIS Care app on your phone and enter this code using the verify HUID icon on the app. This will help you test the veracity of your purchased gold.

Gold continues to shine bright on Dhanteras, but should you participate in the glitter?

<ul><li>The <keyword id="22129781" type="General" weightage="20" keywordseo="Moto-G85" source="Orion">Moto G85</keyword> smartphone has been launched in India.</li><li>The device is priced starting at ₹17,999 and is available in two variants.</li><li>Here’s everything you need to know about the latest smartphone from <keyword id="19960470" type="General" weightage="20" keywordseo="Motorola" source="keywords" meta.keywordsubtype="org" meta.entityname="Motorola" meta.hostid="261" meta.entityid="Motorola">Motorola</keyword>.</li></ul> Motorola today announced the launch of the <keyword id="22273415" type="General" weightage="100" keywordseo="Moto-G85-5G" source="Orion">Moto G85 5G</keyword>, the company’s latest offering in its Moto G series. The Moto G85 5G is the successor of the<a href="https://www.businessinsider.in/tech/mobile/webstories/new-smartphone-moto-g84-5g-announced-in-india-checkout-features-and-price/slidelist/103268120.cms"> Moto G84 5G</a> that was launched in September 2023. The Moto G85 5G is the latest offering in the highly competitive sub-₹20,000 segment, which has witnessed the launch of devices like the<a href="https://www.businessinsider.in/tech/mobile/news/redmi-13-5g-with-120hz-display-launched-in-india-starting-at-13999/articleshow/111604488.cms"> Redmi 13 5G</a>,<a href="https://www.businessinsider.in/tech/mobile/news/cmf-phone-1-with-replaceable-back-launched-in-india-starting-at-15999/articleshow/111581575.cms"> CMF Phone 1</a> and more. <h2>Moto G85 price and availability</h2>The Moto G85 has been priced at ₹17,999 for the 8GB RAM + 128GB storage variant and ₹19,999 for the 12GB RAM + 256GB internal storage variant. Also read: <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-6-galaxy-z-flip-6-galaxy-ring-and-more-launched/articleshow/111637913.cms" data-type="tilCustomLink">Samsung Galaxy Z Fold 6, Galaxy Z Flip 6, Galaxy Ring launched</a> The device comes in three colour options – Cobalt Blue, Olive Green and Urban Gray. While the first two colour variants offer a vegan leather back, the Urban Gray variant offers an acrylic glass back. The device will be available from Flipkart, Motorola Online Store and the company’s authorised retail stores across the country starting from July 16. <h2>Moto G85 specifications</h2>The Moto G85 runs on Android 14 out of the box with the company’s new Hello UI. The smartphone will get two years of Android updates and four years of security updates. It features a 6.67-inch Full HD+ curved pOLED display with 120Gz refresh rate and Corning Gorilla Glass 5 protection. The smartphone is powered by the Snapdragon 6s Gen 3 chipset. It is available in two variants – 8GB RAM with 128GB of internal storage and 12GB RAM with 256GB of internal storage. Coming to the camera department, the Moto G85 is equipped with a dual camera setup at the back consisting of a 50MP primary camera with Sony LYTIA 600 sensor, OIS, and an 8MP ultra-wide-angle camera. On the front, the device sports a 32MP selfie camera. The Moto G85 is powered by a 5,000mAh battery and comes with 33W charging support. The device comes with and in-display fingerprint sensor and is IP52 rated for water and dust resistance. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-6-galaxy-z-flip-6-galaxy-ring-and-more-launched/articleshow/111637913.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-6-galaxy-z-flip-6-galaxy-ring-and-more-launched/articleshow/111637913.cms" target="_blank">Samsung Galaxy Z Fold 6, Galaxy Z Flip 6, Galaxy Ring and more launched</a><a href="https://www.businessinsider.in/tech/mobile/news/redmi-13-5g-with-120hz-display-launched-in-india-starting-at-13999/articleshow/111604488.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/redmi-13-5g-with-120hz-display-launched-in-india-starting-at-13999/articleshow/111604488.cms" target="_blank">Redmi 13 5G with 120Hz display launched in India starting at ₹13,999</a><a href="https://www.businessinsider.in/tech/mobile/webstories/cmf-phone-1-vs-nothing-phone-2a-price-specs-and-features-compared/slidelist/111601389.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/cmf-phone-1-vs-nothing-phone-2a-price-specs-and-features-compared/slidelist/111601389.cms" target="_blank">CMF Phone 1 vs Nothing Phone (2a) – price, specs, and features compared</a>

Moto G85 5G with Snapdragon 6s Gen 3, 5,000mAh battery launched starting at ₹17,999

<ul class="summary-list"><li>Urban Revivo has been touted as a rival to Zara in Asia and is looking to expand to the West.</li><li>I tried on clothes at both shops, but my shopping experience at Urban Revivo was better.</li></ul>Urban Revivo is quickly emerging as a <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-06-24/chinese-zara-rival-urban-revivo-is-said-to-weigh-hong-kong-ipo">rival to Zara</a> in the Asian fashion market, with competitive prices, similar store aesthetics, and a large selection of clothing items.The fast-fashion brand, founded in 2006, has <a target="_blank" class="" href="https://urbanrevivo.sg/pages/about-us#:~:text=The%20brand%20has%20more%20than,United%20States%2C%20Europe%20and%20more">more than 300 outlets</a> in mainland China and Southeast Asia.But it now plans to expand its business to <a target="_blank" class="" href="https://www.businessinsider.com/urban-revivo-us-uk-expand-fast-fashion-nyc-london-fmg-2024-7">cities like New York and London.</a>Meanwhile, Urban Revivo's competition — the Spanish fast-fashion powerhouse Zara — is <a target="_blank" class="" href="https://www.theguardian.com/fashion/2023/dec/12/zara-pulls-uk-ad-campaign-images-gaza">weighed down</a> by <a target="_blank" class="" href="https://www.newsweek.com/zara-boycott-controversial-ad-bodies-sheets-israel-hamas-1851186">boycotts over the Israel-Gaza war</a>, impacting its reputation.I checked out the two brands' outlets in Singapore's Jewel Changi Airport and put together basic outfits in each store. Here's my review.<h2 id="baca7690-c343-4a6f-8321-42ad80b9f1ee">Urban Revivo's fits felt way better than Zara's</h2><div type="image" title="(Composite image) The author trying out basics from Zara and Urban Revivo." height="768" width="1024" msid="112163879" hostid="261" sizebytes="54848"></div>I wear US size 6, but I found it difficult to find pieces that fit me properly in Zara.I tried on four basic white tops, but some were too loose around the armholes, while others were too tight around the waist.I tried on a couple of pairs of jeans, too, but was again faced with the same issue.<div type="image" title="The outfit that the author picked out at Zara, consisting of a pair of jeans, a white tank, a beige cardigan and a handbag." height="960" width="1280" msid="112163870" hostid="261" sizebytes="163576"></div>I finally settled on a no-frills white tank ($18.50), a beige knit cardigan ($49), and the straight-leg jeans ($45.90). I added a basic white handbag ($56.60), bringing the total to $170.In contrast, the first thing I noticed about Urban Revivo's offerings was the quality of the pieces. They felt sturdier than the clothes at Zara. The first tank top I put on fit me like a glove, as did the first pair of jeans I tried.<div type="image" title="The outfit that the author picked out at Urban Revivo, consisting of a pair of jeans, a white tank, a black cardigan and a handbag." height="1280" width="960" msid="112163873" hostid="261" sizebytes="75446"></div>My picks included a black-outlined white tank top ($10), a cropped black cardigan ($41.60), a pair of dark wash jeans ($41.60), and a sparkly black handbag ($57.90), for a total of $151.10.However, one drawback for Urban Revivo was the range of sizes available in the store. The largest jeans size I saw was a US size 8, whereas, in Zara, the range went up to size 14.As the name suggests, Urban Revivo's pieces were more street-style than Zara's. Most pieces had a neutral color scheme compared to Zara's more colorful offerings.<h2 id="373b5067-cb9a-40b6-a406-858acacfd69c">The Urban Revivo store experience rivals Zara</h2>The two stores have similar aesthetics, with clean white interiors.Zara's store was largely open concept — a rectangular-shaped floor plan with most products hugging the walls.<div type="image" title="(Composite image) Zara's storefront in Singapore's Jewel, and a picture of its interior." height="768" width="1024" msid="112163880" hostid="261" sizebytes="62830"></div>It was also very brightly lit. The store design worked fine, but it wasn't anything spectacular.In contrast, Urban Revivo felt like it had intentionally curated its space with a flow in mind. The products were displayed in aisles, prompting shoppers to follow a proposed pathway.The store also had arches, adding visual interest to the outlet's design. <div type="image" title="Urban Revivo's interior." height="813" width="1083" msid="112163865" hostid="261" sizebytes="126878"></div>Unlike Zara's bright lights, Urban Revivo was lit more dimly, creating a more relaxed environment.Mário Braz de Matos, the cofounder of Flying Fish Lab, a branding consultancy agency in Singapore, told BI that Urban Revivo invests "far more than any other fast fashion brand in the shopping experience," something other brands like Zara, H&amp;M and Uniqlo are focusing less on.<h2 id="e4618bb1-1337-41b5-8074-989376f78d2a">But Zara doesn't have to worry just yet, experts say</h2>While I thought that Urban Revivo was a strong alternative to Zara, experts told BI it doesn't pose a major threat yet. For one, they say the two brands cater to different target demographics."The UR (Urban Revivo) styles are mostly cute and youthful, while Zara offers more sophisticated clothing, most likely for working," said Marcie Cooperman, a professor from the fashion marketing department of Parsons School of Design.Gregory Angel, an assistant professor of fashion at Parsons, echoed Cooperman's sentiments."Urban Revivo has a variety of products, but there is a 'sophomoric' feel to it," Angel said.And while one might think the Gaza boycott would have people searching for a Zara alternative, the experts are skeptical that political activism will have a lasting impact on the Spanish brand's business."Customers do not have the courage of their convictions for very long," Cooperman said."If they even have a conviction to boycott a brand, they will forget about it as soon as they see something cute on its website," she added.They also say that it's too early to determine if Urban Revivo will be a true threat to Zara."Fighting the incumbents is always an uphill battle," Braz de Matos of Flying Fish Lab said."For now, Urban Revivo is too small outside China to be felt as a threat to Zara. They can compete with Zara in every market where they are present but may not be seen as a menace," he added.Angel said: "Will it be a competitor or a little sister? The market has yet to find out."Richard Tang, CEO of international business at Fashion Momentum Group, Urban Revivo's parent company, said that his firm did identify Zara as a primary competitor. Tang added that while both companies have a broad consumer base, Urban Revivo is gunning for customers who are "quality-driven elites, white-collar professionals, and the new generation of fashion pioneers.""Urban Revivo has evolved, particularly with its global expansion, into its own distinct market position, despite price and product range similarities to Zara," Tang told Business Insider."This strategy is not only about competing with Zara but also about creating a distinct brand image and influence in the foreign market," Tang said. Representatives for Zara did not respond to a request for comment from BI.

I shopped at Urban Revivo, Asia's answer to Zara. I'm a convert, but experts say Zara has nothing to worry about — yet.

<ul><li><keyword id="20243924" type="General" weightage="20" keywordseo="MapMyIndia" source="keywords" meta.keywordsubtype="org" meta.entityname="MapMyIndia" meta.hostid="261" meta.entityid="MapMyIndia">MapMyIndia</keyword> has accused <keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="261" meta.entityid="Ola Electric">Ola Electric</keyword> of stealing its map data for <keyword id="20251740" type="General" weightage="20" keywordseo="Ola-Maps" source="keywords">Ola Maps</keyword>.</li><li>The company has claimed that Ola Electric has copied its data for “unjust commercial gains”.</li><li>The company has reportedly sent a legal notice to Ola Electric.</li></ul> Ola Electric is all set to raise funds from the primary market through an<a href="https://www.businessinsider.in/stock-market/news/upcoming-ipos-this-week-ola-electric-akums-drugs-and-more/slidelist/112097714.cms"> initial public offering</a> (IPO) which is set to open on August 2. Ahead of the IPO, <keyword id="21641099" type="General" weightage="20" keywordseo="CE-Info-Systems" source="keywords" meta.keywordsubtype="org" meta.entityname="CE Info Systems" meta.hostid="261" meta.entityid="CE Info Systems">CE Info Systems</keyword>, the parent company of homegrown MapMyIndia has accused the Bhavish Aggarwal-led company of stealing map data. According to a<a href="https://www.forbesindia.com/article/news/mapmyindia-alleges-ola-copied-data-for-maps-slaps-legal-notice/93765/1"> report</a> by Forbes India, MapMyIndia in a legal notice has accused Ola Electric of stealing its map data after the company launched its own mapping service, Ola Maps. MapMyIndia has claimed that Ola Electric has breached its license agreement. The electric two-wheeler maker had partnered with MapMyIndia to offer navigational services on its electric scooters. <h2>Data copied</h2>MapMyIndia has claimed that Ola Electric has duplicated the API (application programming interface) and SDKs (software development kits) from the company’s proprietary sources to build Ola Maps. <div type="Article" hostid="261" msid="112039063" title="Pixel 9 series design and specs revealed ahead of launch next month" mstype="2" mssubtype="0"></div> “It is firmly stated that our client’s exclusive data has been copied/derived by you to further your illegal motive and for your unjust commercial gains,” MapMyIndia reportedly said in its notice. Further, the company dismissed Ola Electric’s claim of developing the map data for Ola Maps from Open Map. “Your assertion that you have developed API and map data/Ola Maps solely through open map is factually incorrect and not tenable,” the company added. The company has said that the agreement signed between the two companies prohibits co-mingling and reverse engineering under the Intellectual Property laws. “By indulging in such unscrupulous and illegal activities, you have acted in blatant defiance of the terms and conditions of the agreement and have further infringed the copyright vested exclusively in our client pertaining to the source code,” the notice reads. Ola Electric in a statement to Business Insider India has denied the allegations. “Ola Electric wishes to address the recent claims made by CE Info Systems Limited (“CE Info”) in relation to the alleged issues with Ola Maps vis-à-vis MapMyIndia and reported in news media. We would like to state unequivocally that these allegations are false, malicious and misleading. Ola Electric stands by the integrity of its business practices. We will suitably respond to the notice shortly," an Ola Electric spokesperson said in a statement to Business Insider India. The Delhi-based Geotech startup has said that it will initiate appropriate civil and criminal legal action against Ola Electric. Earlier this month, the share price of MapMyIndia jumped by up to 10% during the Budget 2024-25 as Finance Minister Nirmala Sitharaman announced that land records in urban areas will be digitised using GIS mapping, highlighting the rising importance of such data. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/upcoming-ipos-this-week-ola-electric-akums-drugs-and-more/slidelist/112097714.cms">Upcoming IPOs this week – Ola Electric, Akums Drugs and more</a> <a href="https://www.businessinsider.in/business/auto/news/government-extends-ev-subsidy-scheme-till-september-30-increases-outlay/articleshow/112062360.cms">Government extends EV subsidy scheme till September 30, increases outlay</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-to-manufacture-iphone-16-pro-models-in-india-soon-after-launch/articleshow/112045172.cms">Apple to manufacture iPhone 16 Pro models in India soon after launch</a>

Ola Electric IPO – MapMyIndia accuses company of stealing map data days before IPO opens

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

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

<ul class="summary-list"><li>For decades, Detroit was seemingly caught in an economic time warp that hobbled its full potential.</li><li>But the city's downtown has one of the most stunning urban reinvention stories in the United States.</li></ul>Last week, more than 775,000 football fans converged in downtown Detroit for three days as the city hosted the NFL Draft.Detroit obliterated the previous <a target="_blank" href="https://www.freep.com/story/sports/nfl/2024/04/27/detroit-nfl-draft-weekend-breaking-attendance-record/73482236007/">draft turnout record</a> set in 2019 when Nashville hosted roughly 600,000 fans across three days.Campus Martius Park, perhaps the most revered public gathering space in Detroit, served as the centerpiece of the festivities.Such positive developments are not atypical for Detroit these days. New residents continue to flock to <a target="_blank" href="https://www.businessinsider.com/us-cities-downtowns-fight-doom-loop-office-crisis-2024-4">residential developments downtown</a>, and businesses occupy early-20th-century architectural gems that sprouted when the city was at its industrial zenith.So, just how did this Midwestern city become a model for urban reinvention?<div type="image" title="NFL Draft" height="3024" width="4032" msid="109675229" hostid="261" sizebytes="2498410"></div><h2>The past informs the present</h2>In the 1980s and 1990s, downtown Detroit was a visible reminder of the "urban doom loop," when residents head for the exits and office towers empty out — leading to diminishing tax revenues that threaten core municipal services.The legendary flagship location of Hudson's department store, beloved by generations of Detroiters, closed in 1983. The 1980s saw scores of layoffs in the automobile industry and the closing of numerous factories, causing economic strain in a region once known for its prosperity and its gateway to the middle class. Many small businesses either closed up shop or moved to the region's suburbs, a trend that continued into the 1990s.But when the city of Detroit filed for Chapter 9 bankruptcy in July 2013, <a target="_blank" href="https://www.npr.org/2023/07/22/1189093540/detroit-bankruptcy-comeback-hurdle">the largest municipal bankruptcy filing in US history</a>, many wondered whether an economic comeback would ever be fully realized. At the time, even weekly trash pickup had become unreliable in many neighborhoods.Now, the city is seemingly in its best economic position in decades.Detroit beat out Miami as the fastest-appreciating housing market in the country last November, with home prices rising by 8.7% year-over-year, <a target="_blank" href="https://www.businesswire.com/news/home/20240109628017/en/CoreLogic-US-Home-Price-Growth-Speeds-Up-Again-in-November">according to a CoreLogic report</a>.<div type="image" title="Hudson's" height="5584" width="8368" msid="109675230" hostid="261" sizebytes="1641784"></div><h2>People want to live in the city</h2>The allure of walkable neighborhoods, public transportation, green spaces, and businesses catering to local needs is something that many millennials and Gen Zs have embraced with open arms — but it's also a quality attractive to many boomers headed into retirement.Downtown Detroit has <a target="_blank" href="https://www.nytimes.com/2018/03/26/travel/architecture-detroit-albert-kahn.html">an abundance of towering, historic buildings</a> that are perfect for office-to-housing conversions and office renovations that have taken hold in downtowns across the country.Dan Gilbert, the cofounder of Rocket Mortgage (formerly Quicken Loans) and a Detroit native, has poured billions into the city's downtown to revitalize the area.Gilbert's real-estate firm, Bedrock Detroit, is building a 45-story mixed-use skyscraper at the site of the old Hudson's department store. When completed, the development will be home to General Motors' <a target="_blank" href="https://www.freep.com/story/money/cars/general-motors/2024/04/15/gm-headquarters-rencen-detroit-hudsons-tower/73328040007/">new global headquarters</a>, a five-star hotel, and high-rise residences.GM is currently headquartered at the 1970s-era Renaissance Center, a Detroit icon. While the company's move from the Renaissance Center has certainly raised questions about the complex's future, GM is staying in the city. GM's future headquarters, which will be even closer to the residential buildings sprouting up downtown, is poised to continue contributing to the city's vitality.

Detroit's 'doom loop' was unlike any other American city. Its downtown is now a model for urban reinvention.

<ul><li>Inflation has been eating into the purchasing power of lower and middle income groups with many essentials’ sales falling.</li><li>Majority of the upper and upper middle class respondents saw their household incomes go up more than inflation.</li><li>There is a dichotomy seen in online festive sales too as premium products are bought with discounts and purchase options say experts. </li></ul>There are two Indias within the great sub-continent. One where the day-breaking drink of tea has become dearer for many this year and the other half is doubling down on wine purchases. Neither of them are affected by the base effect of last year. <keyword id="2653343" type="General" weightage="20" keywordseo="tea-sales" source="Orion">Tea sales</keyword> were down last year too, and <keyword id="806378" type="General" weightage="20" keywordseo="wine-sales" source="Orion">wine sales</keyword> were up — darkening the ‘K’ line on economic recovery charts. Madan Sabnavis, the chief economist of Bank of Baroda calls it a schizophrenic pattern of consumption. “Sales are doing better in categories where price does not matter,” he tells Business Insider India. <div type="image" title="grocery demand" msid="104810160" hostid="261" caption="&amp;lt;p&amp;gt;Source: Pixabay &amp;lt;/p&amp;gt;"></div> It’s discretion not price The categories of goods where price matters are seeing low growth in output – a reflection of demand. Some of the casualties are detergent powders, groundnut oils, shampoos and hair dyes. Their output fell between April to August 2023, compared to the year before, as per BoB economics research. Inflation has a more indirect effect on these purchases. For example, tea and shampoo saw moderate inflation but their demand fell. Inflation was high in coffee, toothpaste and soaps but their demand grew. “The generalized inflation factor has been at work where real income has come down thus leading to lower purchasing power,” said BoB. In a survey conducted by UBS, about 46% of respondents said that they’re buying less personal care and packaged food compared to last year. For purchase of home care products, the respondents were largely neutral versus last year, it added. India’s largest FMCG player Hindustan Unilever with a large presence across rural and urban India has seen a direct impact of it in the quarter that ended in September 2023. Its overall urban volumes grew 3% and rural volumes fell 1%. “Rural recovery is likely to remain gradual,” the company said in its investor presentation indicating that the situation might not see any dramatic recovery in the coming months. Rural India saw reverse migration during the pandemic, but not all of them have gone back, opines Sabnavis. A chunk of downtrading is also being seen in urban areas amongst income groups that are facing the heat of inflation, experts add. At the other end This is, however, only one half of the story. At the other end, many Indians are not blinking while making discretionary purchases. A majority of the upper and middle class respondents – 65% – surveyed by UBS, saw their household incomes go up more than inflation. “The top 20% of the population account for the bulk of discretionary consumption. The survey results support our view that affluent consumers‘ income levels are holding up, as reflected in corporate wage growth that continues at double digits,” said UBS. Lalit Jhawar, co-founder and CEO, LandCraft Retail says that high-end gourmet products in urban areas have been steadily increasing over the last few years. He owns a luxury gourmet retails store- Food Square in Mumbai, which sells cheeses, truffles, caviar, artisanal breads and all the other international food items. “Affluence in urban areas has grown, resulting in a larger number of consumers with higher discretionary income,” Jhawar tells Business Insider India. Online sales: A story of dichotomy Another sign of higher spending is seen in the e-commerce festival sales. The first week of the many festival discount sales saw ₹47,000 crore worth of goods being sold, which is 19% higher than last year, says Redseer Consulting. Online sales, which now sees a good measure of metro and demand from Tier 2 and Tier 3 cities, is showing a dichotomy as well, say experts. “Two Indias have come into play where one India is saving up and waiting for prices to come down to clinch a good deal on premium products. On the other hand, there are low-value product sales i.e value-for-money purchases that are being bought more frequently,” said Abhishek Tandon, engagement manager at Redseer Strategy Consultants. The sale season, which is manna for bargain hunters, is also enthused by the number of Buy Now Pay Later and EMI options. “When it comes to big ticket purchases, premiumization is bolstered by financing options and discounts that make it affordable,” adds Tandon. In the pre-festive period between April and August,however, most consumer durable sales were in a negative zone, due to the high-base effect of last year, says Bank of Baroda’s report. Refrigerators, mobiles, readymade garments all showed a negative output – also indicating that discounts play a large role in discretionary purchases. Indian consumers have always been complicated and price has always played a big role in purchase decisions, choice of brands and more. But it’s no longer a linear story. One end of the market, driven by affluence, is veering towards premium purchases. The other end is looking for ways to survive with less in hand as inflation is eating into their purchasing power. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/mamaearth-this-fmcg-scion-is-all-set-to-gain-a-windfall-from-honasa-ipo/articleshow/104721052.cms">This FMCG scion is all set to gain a windfall from Honasa Consumer IPO</a> <a href="https://www.businessinsider.in/careers/news/genzs-millennials-wants-to-be-back-to-offices-even-as-costs-pinch/articleshow/104700780.cms">GenZs, millennials want to be back to offices even as costs pinch</a>

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Hindustan Unilever shares tumble over 6% post Q2 results

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

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Detroit's 'doom loop' was unlike any other American city. Its downtown is now a model for urban reinvention.

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