Top headlines: Online festive sale to rise by 50%; Covid hits brand value

From challenging economic environment affecting auto sales to falling VC investment from China, here are top headlines this morning

Covid-19 impact: E-commerce companies may see 50% rise in festive sales

The upcoming festive sales are expected to push up the annual gross merchandise value (GMV) of e-commerce companies to around $38 billion, a growth of 40 per cent from the previous year. With Covid restrictions playing a spoil sport for physical retail, e-commerce festive sales could cross the $7-billion mark, according to a report by research firm RedSeer Consulting. Read More

Despite challenging economic environment, Bharat to drive Maruti's sales

Car market leader Maruti Suzuki India expects the volume recovery seen in the past few months to continue on the back of a strong growth momentum in rural India and a growing preference for personal transportation in urban markets. “Good sowing of kharif crops (up 8 per cent year-on-year), better minimum support prices, and fewer Covid-19 cases (in villages) will help the rural growth story to continue,” said Shashank Srivastava, executive director (sales and marketing), Maruti Suzuki India. Read More

No easing GST rate, automakers should cut royalty payments: FinMin sources

There may not be any cut in goods and services tax (GST) rates for automobiles, finance ministry sources indicated, despite demand for this by the pandemic-hit sector. Rather, the industry has been asked to reduce cuts in royalty payments to parents abroad. Read More

VC investments from China down by 66% in 2020, startups to feel the heat

Private equity and venture capital investments from China have dropped nearly 66 per cent so far this calendar year to $909 million from $2.69 billion in the corresponding period last year. There was also a concomitant fall in the number of deals to 30 till September 17, 2020, from 35 a year ago. Read More

Practo is looking to scale faster riding on Covid-19, says CEO Shashank ND

Practo is preparing for a phase of rapid growth as health care gets the utmost importance amid the pandemic and its delivery rapidly moves online. The Bengaluru-headquartered digital health care firm, backed by investors such as Sequoia and Tencent, is looking at positioning itself as an ‘integrated digital platform’ and rapidly expanding its base of doctors, diagnostic centres, and the cities and towns it caters to. Read More

ITC continues to underperform but analysts say the stock is attractive

ITC, despite being the most attractively valued among the Nifty FMCG stocks, continues to underperform its peers as well as leading indices. In CY20 so far, the stock has lost 25 per cent against the Nifty FMCG index gaining 2 per cent, and a 5.3 per cent fall in the Nifty50 during the same period. Read More

Emami refocuses for handsome gains, puts aside spat with Hindustan Unilever

When the Bombay High Court restrained Emami from using “Glow and Handsome” in a temporary court order last month saying that, prima facie, Hindustan Unilever (HUL) appeared to be a prior adopter, it was a jolt for the company. Emami’s case is that it has been marketing its skin care product under the trademark “Fair & Handsome” and use of “Glow & Handsome” by HUL infringes on its trademark (a separate case is pending before Calcutta High Court). Read More

 Covid-19 pandemic hits value of Indian brands, says Kantar report
 

 

The Covid-19 pandemic has disrupted all aspects of business and the economy, and value of leading brands is no exception. The latest edition of Kantar’s report on the value of Indian companies shows that while the top four brands have managed to hold on to their positions, they have lost value in double digits over 2019. Read More

Farming, fin inclusion weakest spots in aspirational districts plan: study

Agriculture and financial inclusion are the two main weaknesses in the much-talked about aspirational districts programme of the Central government, as most of the districts are 40-90 per cent away from their targets, though they have fared much better on health and education, an independent study of the scheme has shown. Read More