Market News
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Swiggy CEO Sriharsha Majety vows to stay out of Amazon-Ambani spending war
Swiggy is prioritizing profitability over rapid expansion. The company will not match rivals like Flipkart and Reliance Retail's aggressive delivery speed and discount strategies. Swiggy's CEO believes this approach will retain loyal customers. This decision comes amid intense competition in India's fast-growing quick commerce sector. Investors are seeking a clear path to profitability for Swiggy's Instamart unit.
Retailers face AC shortage as heatwave boosts demand
Intense heatwaves have driven a sharp rise in air-conditioner sales. This surge, following lower production in March, has created significant supply shortages. Retailers are receiving only half their orders. Higher energy-efficient models are particularly affected. Companies are now increasing production to meet the unexpected demand. Consumers are buying early, anticipating further price increases.
Temperatures rise! NTPC Green, Adani Power shares jump up to 7%; what lies ahead?
Soaring temperatures across India are fueling a surge in power demand, boosting shares of NTPC Green and Adani Power. Heatwave warnings are in effect for Mumbai and Delhi, with Gujarat and Madhya Pradesh also experiencing intense heat. Experts anticipate a record summer, benefiting power companies as they prepare for heightened electricity needs.
India's kitchens safe amid energy shock, assures Hardeep Puri
As the world grapples with an intense energy upheaval, India remains steadfast in its commitment to its citizens by prioritizing access to cooking fuel. The government is actively protecting LPG supplies while maintaining consumer prices against the backdrop of global market shifts. Crude oil remains in supply, and LPG production has been ramped up to meet demand.