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Motisons Jewellers makes bullish entry, lists with a 98.34% surge on BSE

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Motisons Jewellers

Shares of Motisons Jewellers Ltd were listed on Tuesday with a substantial premium of more than 98% compared to the issue price of INR 55.

The stock premiered at INR 103.90, marking an 88.90% increase from the issue price on the BSE. Subsequently, it surged by 98.34% to reach INR 109.09.

At the NSE, the stock was listed at INR 109, indicating a significant surge of 98.18%.

The company’s market capitalization stood at INR 994.30 crore during the early trade.

Motisons Jewellers’ public offering garnered an impressive subscription rate of 159.61 times on the final day of the share sale on Wednesday.

The INR 151-crore initial share sale of the Jaipur-based retail jeweller company had a price range of INR 52-55 per share.

The public offering consisted entirely of a fresh issue of 2.74 crore equity shares, with no Offer For Sale (OFS) component.

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The Swinton House debuts in Jaipur, offering a culinary extravaganza in a Victorian-inspired setting

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The Swinton House

The Swinton House opens in Jaipur, drawing inspiration from the grandeur of Victorian-style estates. This restaurant and bar combines European grace with Rajasthan’s vibrant cultural heritage.

Set amidst Jaipur’s picturesque surroundings, The Swinton House provides a culinary and cocktail adventure.

Its contemporary interiors feature an open courtyard and a bar adorned with Roman arches and glass panels.

“The Swinton House sets itself apart with its commitment to curating bespoke experiences that elevate the senses. Guests can expect a regal twist on world-renowned delicacies, promising a gastronomic adventure like none other. The meticulously restored colonial property serves as a canvas for the seamless fusion of heritage and modernity, offering a captivating backdrop for every visitor,” said Sagar Nagpal & Mohit Gurnani, Co-founders of The Swinton House.

At The Swinton House, The Yard functions as the main restaurant, offering global modern cuisine that harmonizes with the flavours of Rajasthan.

Chef Prince Beniwal’s commitment to imbuing global dishes with regional Indian flavours has led to a creative menu that pays homage to its roots.

The menu comprises options like Moroccan Chicken Kebabs, Cottage Cheese Mousse Nest with Pickled Kataifi, London Fog Rum Tiramisu, and other delectable creations.

The bar at The Swinton House seamlessly merges innovation and heritage, providing guests with a diverse exploration of flavours and liquors.

Ankur, the resident mixologist from Himachal Pradesh, has crafted the menu. His expertise shines through in the signature cocktails, each a unique tale encapsulated in a glass.

Ankur delights in blending local ingredients with international spirits, infusing his drinks with a touch of Jaipur’s allure. Among the trendsetting mixes are Disco Jamun, Vetiver Coffee Highball, and other enticing options.

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Charting the path: UN’s farm-to-fork strategy aims for fair reductions in food emissions

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vegetables

The first-ever UN roadmap for reducing climate-heating emissions from the world’s farming sector, unveiled at the COP28 UN climate summit this month, has stirred debate around how to fairly share the burden of shifting to greener practices.

Check Out Other Articles: Over 130 countries commit to reducing carbon emissions in worldwide food system at COP28

Certain agricultural experts advocate for the complete phase-out of fertilisers and other agro-chemicals, whose production is heavily dependent on fossil fuels. Meanwhile, others argue that poorer countries will still require these inputs to enhance low crop yields.

Food systems, encompassing cultivation practices, inputs such as fertilisers, storage, transportation, and waste, contribute to almost one-third of global greenhouse gas emissions.

The latest proposal, put forth by the Food and Agriculture Organization (FAO) of the United Nations, aims to eradicate hunger and malnutrition while aligning with the most ambitious goal of the Paris Agreement, which seeks to cap global warming at 1.5 degrees Celsius.

It suggests actions to enhance farm productivity while reducing emissions of methane, carbon dioxide, and other greenhouse gases across ten domains. These include adopting clean energy, restoring soil and pastures, and minimizing chemical inputs, food loss, and waste.

Furthermore, it suggests that affluent nations should reduce their substantial consumption of animal-source foods. This adjustment aims to facilitate developing nations in increasing their consumption without causing harm to the climate and the environment.

The roadmap is the first of a series that the FAO will unveil at three annual climate summits, starting with this year’s global overview and detailing next how to make food systems work better for people and the planet at the regional and country levels.

Emile Frison, from the International Panel of Experts on Sustainable Food Systems, expressed approval for the first plan and its “emphasis on a just transition.” However, he noted in a statement that it falls short as it primarily concentrates on incremental enhancements to the current “flawed” industrial food system.

“These efficiency-first proposals are unlikely to be enough to get us off the high pollution, high fossil fuel, high hunger track we’re on,” said the conservation and biodiversity expert.

Patty Fong, the program director at the Global Alliance for the Future of Food, a coalition of nearly 30 philanthropic foundations, asserted that achieving genuine sustainability in food systems demands a dedication to phasing out fossil fuels across the entire value chain, from farm to fork.

However, the roadmap advocates for reduced fertilizer use through increased efficiency rather than a complete transition to sustainable farming practices such as agro-ecology, she pointed out.

Others argued that chemical fertilisers are indispensable for enhancing food security in developing nations with meager crop yields and a substantial proportion of smallholder farmers.

Aditi Mukherji, from the CGIAR global research partnership on food systems, emphasized that solutions should be tailored to specific contexts. She highlighted the necessity for sustainable intensification of agriculture in impoverished regions with low productivity.

“But certainly, this is not true of high-income countries,” she told Context.

In many low-income countries, achieving greater agricultural efficiency and bolstering climate resilience could lead to reduced emissions by mitigating crop losses and minimizing post-harvest waste, she observed.

These discussions are unfolding on the ground in nations such as India, where agriculture stands as the largest employer, sustaining the livelihoods of 250 million farmers and labourers.

Their tasks are becoming more challenging due to the difficulties posed by climate change, making a livelihood from farming arduous and leading to increased debt, migration, and even suicides. Concerns about declining yields have prompted a general increase in the use of chemical fertilisers.

However, an increasing number of smallholder farmers are experimenting with green approaches that endorse organic, natural, or sustainable methods. The extent and success of these initiatives will depend on how effectively they can safeguard incomes, as highlighted by agricultural experts in the given context.

For instance, despite having heard of many farmers switching to natural cultivation methods, Shashikant Shukla continues to grow wheat and pulses using chemical inputs on his half an acre of land in northern India’s Uttar Pradesh state.

His yields and income have been constrained by unpredictable monsoon rains, untimely downpours, and premature heatwaves, exacerbated by climate change. Additionally, rising costs for fertilisers and other overheads have further compounded the challenges he faces.

“I am constantly living in debt; I do not have the courage to experiment on my farm,” said Shukla, who makes up for his climate-related harvest losses by working as a driver-for-hire.

Even if he does try growing organic wheat, he would end up selling it at the same price as conventional wheat – and if it leads to a dip in yields, “it will break my back,” he added.

Transitioning to natural farming frequently results in a decline in yields during the initial years before harvests gradually improve—an outcome that is challenging for many impoverished Indian farmers to endure.

They depend on government purchases of their staple crops, such as rice and wheat, at assured prices and seldom have funds set aside to alter their practices without external assistance.

Devinder Sharma, an independent expert on agricultural policy, emphasized to Context that India must transition towards ecological farming practices. However, he added that green initiatives will only bring about superficial changes unless farmers are provided with a guaranteed income.

Smallholder farmers interviewed by Context for a recent series on achieving a fair green transition in Indian agriculture highlighted various challenges. These ranged from the absence of access to high-quality seeds and markets offering premium prices to the limited availability of natural manure and the burden of high labor costs.

Sharma suggested that smallholder farmers would gain from a government-supported guaranteed price for naturally grown produce, along with subsidies to mitigate any losses and the establishment of more robust marketing channels.

A broad transition to low-carbon, climate-resilient food production, as delineated in the recent UN roadmap, will be effective only if it places farmers at the core and offers the necessary finance, infrastructure, and technology to help them adapt to increasingly extreme weather conditions and embrace greener practices, according to experts.

Another FAO report, supplementing the 1.5°C blueprint, cautioned that insufficient climate finance is being directed towards agriculture.

Between 2000 and 2021, agri-food systems received about US$183 billion, or just 4 per cent of overall climate finance flows, the report said. It noted that the annual allocation for farming fell 12 per cent to US$19 billion in 2021, while hundreds of billions are required.

Moreover, in that same year, only 0.3 per cent of international climate finance from both public and private sources reached smallholder farmers. This group, requiring significant support in the transition to sustainable agriculture, was highlighted in a separate analysis by the Amsterdam-based think-tank Climate Focus.

According to Fong from the Global Alliance for the Future of Food, marginalized groups, including smallholder farmers, should have the opportunity to actively contribute to devising strategies for transforming global food systems.

“Grassroots producers — particularly smallholder farmers, women and Indigenous communities — must be included in all discussions,” she said in a statement on the FAO roadmap.

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Sports brands score big as fitness wave sweeps across India

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athleisure

From trainers and joggers to dumbbells and yoga mats, the sales of almost half a dozen prominent sports brands have surged in the last two years, both during the pandemic and subsequently. They have experienced a twofold increase in business in India, propelled by a growing awareness of fitness and a soaring demand for athleisure wear.

Puma, Decathlon, Adidas, Skechers, and Asics have all experienced year-on-year growth ranging from 35% to 60% since FY21, as indicated by regulatory filings from the Registrar of Companies. In FY23, their combined revenues amounted to INR 11,617 crore, a significant increase from the INR 5,022 crore they collectively generated two years prior. The increased demand for fitness wear and sports equipment, not limited to cricket, underscores a heightened emphasis on health in response to the onset of Covid-19.

“The increased focus on health and fitness has resulted in individuals across ages looking for technical and performance footwear. Running is one of the fastest growing categories for us, along with a notable jump in search for walking shoes by adults aged over 45 years,” said Shreya Sachdev, head of marketing, Puma India. “Overall, the sports and athleisure category is growing faster than the average apparel and footwear market in the country.”

Organizations have leveraged the appeal of relaxed styles following the pandemic, a trend that has diminished, although people remain more health-conscious than ever.

“There is a clear trend of ‘casualisation’ and ‘sneakerisation’ and it is not just restricted during sports or leisure activities. We see people opting for casual attire even at offices, against the earlier assumption that post Covid, formal wear will be back in fashion,” said Abhishek Ganguly, former managing director at Puma India who recently started his own firm Agilitas Sports. “India is no longer just a cricketing nation as we see consumers increasingly getting involved in other activities such as running, football and gyms.”

Boasting a population of 1.4 billion, India stands as one of the swiftest expanding and most extensive global markets for footwear enterprises.

Many international brands have established a presence in India for over two decades, expanding through collaborations with cricket and other sports. In contrast, recent entrants have positioned themselves as brands offering comfortable lifestyle and regular athletic wear.

“India is a crucial market for us and, with the changing consumer landscape, we see a huge potential with new and emerging demand for sports across different regions in India,” Asics Corp. CEO Yasuhito Hirota said in a statement last week, adding it will open 50 new stores in the country by 2025.

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Mumbai Airport’s pricey dosa goes viral: Internet reacts to the hefty INR 600 price tag

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Mumbai airport dosa

A video featuring the cost of a masala dosa at Mumbai airport has gone viral online. While food items are generally sold at a premium at airports, shelling out INR 600 for the humble masala dosa seems unpalatable even to frequent travellers – as evidenced by the comments section of the Instagram video.

The brief video depicts the camera zooming in on the digital menu display of the restaurant. Opting for a basic masala dosa with buttermilk comes at a cost of INR 600, while indulging in a benne khali dosa will require the customer to part with INR 620. The expenses escalate further if one decides to accompany the dosa with filter coffee or lassi.

The video also reveals the preparation of dosa with what many have termed a “dry” masala stuffing. It has garnered over 9 million views and hundreds of comments on Instagram.

Reactions to the cost of a single dosa were generally shocked. Some believed that the dosa’s appearance and taste did not justify its exorbitant price.

“Imagine paying 600rs for masala dosa which is still not better than 40-50rs one,” wrote one person.

“That’s more expensive than dosa at Singapore,” said another.

Some even drew comparisons to the cost of precious metals.

“Gold is cheaper than dosa at Mumbai airport,” read the on-screen text on the video, which some called a stretch.

However, many agreed that the cost of the Mumbai airport dosa was at par with the rate of silver.

“Actually in real silver’s rate is same as this dosa,” one commenter pointed out.

A regular in numerous households and South Indian eateries, dosa can be aptly characterised as a savoury crepe filled with potatoes, accompanied by sambar and chutneys. Nevertheless, this isn’t the initial instance when this South Indian delicacy has garnered attention on social media due to its elevated cost.

Some days ago, a Zomato worker had expressed astonishment upon shelling out INR 1000 for two dosas at a renowned restaurant in Gurugram.

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ITC aims for double-digit market share in smoothies and milkshakes, expanding reach beyond airports

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ITC milkshake

ITC Ltd, a prominent player in the Fast-Moving Consumer Goods (FMCG) sector, anticipates achieving a double-digit market share in the smoothies and milkshake beverage segments during the fiscal year 2024.

The company provides a range of smoothies under the brand Sunfeast, incorporating milk and real fruits in flavors such as mango, strawberry, litchi, and peach-pineapple. Additionally, they offer a delectable dark fantasy chocolate shake.

“We were only selling these smoothies on airlines and airports and earned a good market share in the last two years. Therefore, we expanded that beyond the airports and airlines to modern trade. In modern trade, last year, we were just behind Amul at number 2. In the dairy beverage space this year, we are now going to expand it to general trade, and we anticipate that we should be able to reach nearly double-digit market share in general trade, in the geographies we will operate in,” said Sanjay Singal, Chief Operating Officer for the Dairy & Beverages cluster of ITC’s Foods.

Under the Aashirvaad Milk brand, the company employs digital technology to assess the quality of milk during the procurement process. The live tracking of milk ensures a consistent 4-degree temperature is maintained throughout the supply chain, from the village to the factory.

“We wanted to go the value way. ITC has invested in a state-of-the-art manufacturing facility in Punjab, where we have put up an aseptic PET line which allows you to offer a dairy beverage with six to nine-months shelf life without adding any preservatives and also presents us a unique opportunity that no one in the country today has, which is to add fruit pieces, badam pieces etc into the product,” he said.

The Kolkata-based FMCG manufacturer is strategically planning to diversify into sub-segments of fruit-based beverages, with a specific focus on expanding its presence in the domain of natural fruit drinks.

“We are seeing that consumers across food and beverages are going for more evolved needs. We are betting big on coconut water because coconut water is a completely natural product. It’s a natural electrolyte. It doesn’t have any added sugar and it’s a very light product which can be consumed any time of the day. We have launched it under the brand B Natural, a very tasty coconut water which gives you a very tasty authentic taste. Secondly, it’s very difficult to pick up a raw coconut and take it home, so our coconut water is available in convenient package format in 200 ml and 750 ml. We launched this only a year back and we are happy with the progress,” added Sanjay Singal.

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Livpure sets sights on kitchen market expansion, unveils strategic plans for FY24

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Livpure

Livpure, renowned for appliances such as water purifiers, is seeking to bolster its presence in the overall kitchen space. Following the recent launch of chimneys, the company’s next strategic move involves expanding its footprint in the built-in appliances segment. Overall, Livpure anticipates ending FY24 with revenues amounting to about INR 650 crore.

Continue Exploring: Livpure steps into kitchen space, introduces chimneys for clean and healthy cooking

Rakesh Kaul, Managing Director, Livpure told said, “In the April-September period of FY24, which is the first half of the fiscal, we have grown by around 50 per cent in terms of revenue and our business has become EBIDTA positive. In October too, we saw a strong growth of nearly 121 per cent compared with same month last year.”

He stated that the expansion was aided by the firm’s emphasis on a more refined product mix, digitisation, and the increasing subscriber base for its WAAS business (Water Purifiers on subscription).

“The water as a service business is a critical vertical for us and we saw over 100 per cent growth in this segment. We now have a subscriber base of close 2,00,000 consumers, who are using water purifiers on a subscription basis. We have also increased our gross margins in the water business and addressed various gaps in terms of distribution and in terms of price points in this segment,” he said.

The company is also exploring entry into diverse market areas. It is enhancing its position in the air cooler segment and has recently entered the chimney space.

“We have seen strong response for our chimney range on e-commerce. Even in the air cooler space, we saw very strong growth despite a challenging summer season,” he added.

“In the post Covid times, kitchen as a space has been revitalised. New age appliances which are adding the dimensions of convenience are getting added to the consumers’ kitchens. So we believe the growth opportunity in the overall kitchen space in terms of innovations is very strong. We believe because of the strong brand affinity, Livpure has the ability to become a pre-eminent player in the overall kitchen space,” added Kaul.

“We are also looking at strengthening our retail footprint and have 25-30 exclusive stores which will have our entire range of large kitchen appliances and water purifires in the future,” Kaul stated.

Responding to a query on revenues, Kaul said, “Overall we are targeting a growth of 75-80 per cent in this fiscal which will take us closer to INR 600-650 crore in terms of revenue.”

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Andhra Pradesh’s Srikakulam district emerges as a global hub for shrimp exports, generating INR 10,000 Crore annually

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Shrimp

Shrimp farms in the Srikakulam district of Andhra Pradesh are using modern methods to produce approximately 40,000 tonnes of shrimp annually for exports, fetching them around INR 10,000 crore, according to the Ministry of Fisheries, Animal Husbandry, and Dairying.

All the farms are situated in close proximity to the Srikakulam Sea coast, maintaining high bio-secured conditions. The district plays a significant role in India’s shrimp exports to other nations.

The 1,000-acre farms have engaged nearly 600 farmers and approximately 5,000 workers directly.

Secretary in the Department of Fisheries, Abhilaksh Likhi, visited Kalinga Pattinam in Srikakulam district and interacted with the shrimp farmers in order to understand the grassroot level problems faced by the saline water shrimp farmers, the ministry said on Monday.

Shrimp farmers employ a four-step farming approach with bio-floc technology to cultivate larger, high-quality shrimp, each averaging a weight of 20 grams.

This innovative and advanced cultivation system incorporates fully lined ponds within highly bio-secured environments. It integrates sophisticated technologies such as automatic feeders, central drainage/sludge removal, and Internet of Things (IoT)-based monitoring of water parameters. These features aim to effectively manage high-density intensive farming systems, enhancing productivity within a reduced cultivation area and accommodating higher stocking densities.

Srikakulam is one of the top shrimp producing districts in India. It has been able to consistently maintain the best shrimp quality as the entire culture zone has been developed in the elevated area as compared to other areas.

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D2C activewear brand BlissClub records four-fold surge in operating revenue, reaching INR 68 Crore in FY23, despite widening losses

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BlissClub

BlissClub, a direct-to-consumer (D2C) activewear brand focused on women, reported a more than four-fold surge in its operating revenue, reaching INR 68 crore for the financial year ending on March 31, 2023, even as losses mounted.

The Bengaluru-based startup, as per its regulatory filing, recorded losses of INR 36 crore, marking a four-fold increase compared to the same period last year. In the fiscal year 2022, the company achieved INR 15 crore in operating revenue while incurring a loss of INR 9 crore.

BlissClub, initially focused on online sales of its activewear products, has expanded its operations by venturing into offline stores as it contends with fast fashion brands.

In May 2022, BlissClub secured $15 million in a funding round led by Eight Roads Ventures and Elevation Capital. Notable participation in the round came from angel investors such as Sriharsha Majety, Chief Executive of Swiggy, Ghazal Alagh, Co-founder of Mamaearth, Vivek Gupta and Abhay Hanjura, Co-founders of Licious, and Amar Nagaram, former Chief Executive of Myntra, among others.

Despite the challenging funding environment, Indian direct-to-consumer (D2C) companies have managed to occasionally secure funds this year. For instance, Freakins, a D2C apparel firm specializing in denim, secured $4 million in a funding round led by Matrix Partners India and Blume Ventures. Beyond apparel, D2C enterprises like Pilgrim, a maker of beauty and personal care products, raised $20 million in a funding round led by Vertex Ventures Southeast Asia and India.

Meanwhile, Honasa Consumer Ltd, the umbrella company for the personal care brand MamaEarth, made its stock market debut on October 31. The company announced a 93% increase in net profit, amounting to INR 29.4 crore, for the quarter ending September 2023, with operating revenue reaching INR 496 crore.

Continue Exploring: Mamaearth IPO Set for October 31, Price Band at INR 308-324/Share

Check Out Other Articles: Honasa Consumer soars with a 93% YoY profit surge, reaching INR 29.4 Crore in the September quarter

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Zomato unveils foodie favorites: Biryani and pizza maintain supremacy in 2023

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Biryani Pizza

Zomato has unveiled its food-ordering trends for 2023, with the customary favourites, biryani and pizza, maintaining their dominance on the charts. Over 10.09 crore biryani orders were placed through the platform, while pizza closely followed with over 7.45 crore orders.

In 2023, the biryani orders for the year could fill eight Qutub Minars in Delhi, while the pizzas could cover an area greater than five Eden Garden cricket stadiums in Kolkata, as per Zomato’s statement.

Noodle bowls secured the third position with over 4.55 crore. According to the delivery giant, this quantity of noodles would be sufficient to cover the Earth 22 times.

Bengaluru, bestowed with the title of the cake capital by Swiggy, recorded the highest number of breakfast orders on Zomato in 2023. In contrast, users in Delhi exhibited a different pattern, opting for a greater number of late-night orders.

Continue Exploring: From instant noodles to mangoes: Swiggy Instamart unveils fascinating 2023 trends

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