Uber Eats was in market looking for suitor for a few quarters now. There have been reports suggesting Swiggy and Amazon as potential buyers. In the end, it ended up on Zomato’s plate. Interestingly, Uber took more time than ride-sharing rival Ola to realise it needs to exit the food delivery business. Ola, which entered the market by buying FoodPanda in December 2017, had decided to discontinue the business in May 2019. Uber launched Uber Eats in India in May 2017. … [Read more...] about What’s cooking | Profitability takes a back seat as Zomato buys Uber Eats
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Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app. … [Read more...] about Rallis India Q3 FY20 – Tide has turned, but pricing is a sticking point
— Jeff Bezos (@JeffBezos) January 20, 2020Bezos had previously announced that Amazon would invest $1 billion in India till 2025. The investment is aimed to digitise small and medium businesses. Bezos, during his visit to India for the Amazon SMBHAV event, delivered a package to a local kirana store amid protests from the Confederation of All India Traders (CAIT). … [Read more...] about Amazon rolls out electric delivery rickshaws in India
“The overall tone is that of caution. Loan growth has come down and stress levels have inched up. The bank tends to be selective on credit growth,” said Sidhharth Purohit, analyst at SMC Global Securities, adding he didn’t have a rating on the bank. Gross slippages of the bank jumped up to 2.46 percent from to 2.32 percent in the quarter ended September. Net NPA ratio stood at 0.89 percent versus 0.85 percent. … [Read more...] about Bad loan hit banks wary of corporate loans; what it means for a struggling economy?
"Overall, the net profit saw an improvement due to reduction in finance costs and tax. There has been a reduction in finance costs because we are sitting on a cash of about Rs 650 crore. Similarly, our effective tax rate came down to 26 percent compared to 35 percent a year ago," he said. … [Read more...] about Polycab India Q3 net profit up 14% on low finance costs, tax outgo