Tamil Nadu State Marketing Corporation (Tasmac) plans to introduce a range of premium beer brands, including Bira, Geist, Godfather, and Thunderbolt, across all its retail locations.
For years, beer enthusiasts in Tamil Nadu have voiced their dissatisfaction over the limited options available. However, Tasmac is set to address this issue by procuring beer, including pint-sized cans and bottles, from out-of-state sources for the first time.
Until recently, Tasmac had restricted the sale of beer in Tamil Nadu to brands with local breweries, even though imported beer was permitted.
At the moment, Tasmac sources 35 different beer varieties from Accord Distillers and Breweries, United Breweries, SNJ Breweries, and Kals Breweries. However, the SOM Group, based in Madhya Pradesh, has established a brewery in Gummidipoondi and is gearing up to supply fresh selections, including Hunter, Woodpecker, and Powercool.
Although these brands will be accessible starting in November, the ones obtained from other states are anticipated to be stocked on retail shelves by December.
Tasmac procurement officials have verified that these beer varieties will be accessible at all outlets, without any restrictions to exclusive shops.
“The intention is to make more varieties available,” said an official on condition of anonymity. Tasmac had recently introduced 100% barley-based beer from SNJ Group.
Tasmac is also contemplating the launch of new beers with lower alcohol content.
Authorities are currently in negotiations with suppliers to ensure the availability of these products before the arrival of the next summer season.
The supplier will furnish the outlet with a chiller for the exclusive storage of fresh beer. Unlike standard beer, fresh beer does not undergo pasteurization, resulting in a shelf life of 90 days, whereas regular beer can be stored for 180 days.
Fresh beer contains 4% alcohol content, which is lower than the 8% alcohol content found in strong beer varieties. Lager beer, on the other hand, has a 7% alcohol content.
Indian government-backed Open Network for Digital Commerce (ONDC) has unveiled the ONDC Official Guide App, aimed at providing assistance and support to various user groups, including sellers, buyers, logistics providers, and network participants.
The application can be found on the Google Play Store and offers language support in English, Hindi, as well as 10 additional Indian languages.
Commenting on the initiative, ONDC’s MD and CEO T Koshy said, “It is an extension of our continued dedication to transparency and accessibility for all. We look forward to the app’s pickup on the Google Play Store and remain dedicated to continuously enhancing its functionality to provide ongoing value to our ecosystem.”
In a statement, ONDC mentioned that prior to its release, the Guide App underwent thorough testing to ensure its functionality and adherence to Google Play Store policies and guidelines.
The application was created with the aim of enabling the user community to actively engage with the ONDC ecosystem. Designed as a primary resource, its notable features comprise:
The application offers authenticated ONDC data and valuable insights into the ecosystem, along with incorporating real-time updates and interactive elements like videos and frequently asked questions (FAQs).
Launched in 2021, ONDC is a seller network designed to ensure the accessibility of e-commerce to every part of India. Its primary goal is to establish open standards for all aspects of digital commerce, enabling buyers and sellers to conduct transactions through any compatible app or service.
Recently, ONDC has ventured into skill-based services, including appliance repair and teaching assistance, thereby broadening its existing array of offerings that already encompass food, grocery delivery, and mobility services.
Furthermore, it is reported to be preparing for the official launch of its cab services program in Kolkata, in collaboration with the West Bengal government’s Yatri Sathi app. Since its pilot launch in July, the program has been achieving an average of more than 5,000 rides daily, with an impressive user base of over 365,000 registered users and 18,600 registered driver partners.
During July, ONDC announced that its daily retail orders, encompassing food and grocery, exceeded 35,000, with significant contributions from Delhi NCR accounting for over 11,000 orders and Bengaluru for more than 7,000 orders.
According to a circular issued by the National Stock Exchange of India, Patanjali Foods is set to exit the additional surveillance framework under the insolvency and bankruptcy code starting this Wednesday.
The Additional Surveillance Framework (ASM) is a component of the measures implemented by the Securities and Exchange Board of India and stock exchanges to bolster market integrity and protect the welfare of investors. The ASM framework relies on specific criteria, such as price, volume fluctuations, and volatility, to achieve its objectives.
Stocks are categorized into two surveillance frameworks, primarily based on their time horizon: short-term and long-term.
The selection of stocks for inclusion in the ASM list serves as a cautionary signal to investors regarding unusual price movements. Implementing specific trading restrictions aims to prevent potential volatility and protect investors from losses.
Patanjali Foods’ shares on the NSE closed 4.5% higher at INR 1,367.90 on Tuesday.
Nita Ambani, the founder and chairperson of Reliance Foundation, made her grand entrance at the Jio World Plaza launch event in Mumbai on Tuesday.
Expressing her excitement at the event, Nita Ambani said, “Jio World Plaza is not only going to be the best mall in India but I hope it will become the best mall in the world. Definitely, we are really looking forward to it…Today is an ode to all the Indian designers and our arts & artisans also.”
In a press release issued by Reliance Jio, Jio World Plaza, strategically situated in the vibrant Bandra-Kurla Complex (BKC) at the core of Mumbai, officially welcomed the public on November 1st.
The Plaza seamlessly blends with the Nita Mukesh Ambani Cultural Centre, the Jio World Convention Centre, and the Jio World Garden, creating a comprehensive destination for all visitors.
Talking about the Jio World Plaza at the grand event, Isha Ambani, Director of Reliance Industries Limited said, “I am very excited to open the next step of our Jio World Centre – a vision that my mother set out for bringing the best in the world to India and taking the best in India to the world…”
JWP is designed as an exclusive hub for retail, leisure, and dining, spreading across four levels and an expansive 7,50,000 square feet area.
The retail mix boasts an impressive roster of 66 luxury brands. Notable international newcomers to the Indian market include Balenciaga, the Giorgio Armani Cafe, Pottery Barn Kids, Samsung Experience Centre, EL&N Cafe, and Rimowa. Mumbai welcomes its first stores of Valentino, Tory Burch, YSL, Versace, Tiffany, Laduree, and Pottery Barn, while key flagships include other iconic brands like Louis Vuitton, Gucci, Cartier, Bally, Giorgio Armani, Dior, YSL, and Bulgari.
JWP will also feature renowned designers like Manish Malhotra, Abu Jani-Sandeep Khosla, Rahul Mishra, Falguni and Shane Peacock, and Ri By Ritu Kumar, among others.
The Plaza’s structure, inspired by the lotus flower and other elements of nature, was brought to life through a collaboration between TVS, a prestigious international architecture and design firm headquartered in the United States, and the Reliance team.
The shopping concourse is adorned with meticulously placed sculptural columns, creating a visual thread that weaves design continuity into the space. Marble-clad floors, soaring vaulted ceilings, and artful lighting come together to establish a backdrop that epitomizes the essence of luxury.
Services like personal shopping assistance, VIP concierge, taxi-on-call, wheelchair services, hands-free shopping with baggage drop, butler service, and baby strollers amplify the Plaza’s commitment to the consumer.
With Jio World Plaza, Reliance Industries Limited has set the benchmark for luxury and innovation in India’s retail landscape.
A surge in new restaurant openings is on the horizon for this quarter, encompassing not only metropolitan cities but also tier II-III towns, as the New Year approaches.
Restaurateurs have expressed their intentions to leverage the current unprecedented demand, which marks the highest they’ve witnessed since the onset of the pandemic.
MMG Group, the master franchisee responsible for operating the McDonald’s burgers-and-fries chain in the north and east regions, is gearing up to open nearly as many new Quick-Service Restaurants (QSRs) in the current quarter as they did throughout the entire previous year.
“We will be opening 18 outlets in this quarter across New Delhi, Kolkata, Punjab, Haryana, Himachal Pradesh, Uttar Pradesh and the Delhi-Mumbai Expressway (area),” said Sanjeev Agarwal, chairman of MMG Group and McDonald’s India North and East. The chain added 19 outlets in calendar year 2022.
Zorawar Kalra, the Founder of Massive Restaurants, which boasts brands like Farzi Cafe, Masala Library, and Bo Tai, anticipates concluding the year at an unprecedented peak. He plans to inaugurate 30 cloud kitchens in this quarter, alongside the introduction of new restaurants in Bhopal, Chennai, and Raipur.
“We are expecting our best-ever December this year as we foresee a major uptick in demand. Our growth will include a combination of cloud kitchens and company-owned and franchised dine-in outlets,” he said.
Pranav Rungta, the Co-Founder and director of Nksha restaurant and the Mumbai chapter head of the National Restaurant Association of India (NRAI), has projected the emergence of approximately 150 new restaurants within the Mumbai Metropolitan Region over the next three months.
Sandeep Anand Goyle, the director of Essex Farms and the head of the Delhi chapter of NRAI, has indicated that Delhi-NCR is poised to welcome approximately 100 new restaurants in the coming three months.
Riyaaz Amlani, the Founder and managing director of Impresario Entertainment & Hospitality, has noted a robust reception not only in metropolitan areas but also in tier II-III cities like Indore, Dehradun, and Chandigarh.
“We intend to penetrate deeper in markets where we already exist, and enter cities that we are not currently in,” said Amlani. “Our immediate focus for expansion remains on Kolkata, Goa, Hyderabad, Lucknow and Faridabad by the end of this year. We are launching Park Street Social in Kolkata soon.” Dine-in at the Russel Street address begins after the launch party on November 2, but the kitchen is already open for online delivery, according to an Instagram post.
The expansion initiatives are driving an increase in budgets. Prasuk Jain, a restaurateur and the founder of Snow World Entertainment, is set to open cocktail bars Emily and Speak Easy at Waterfield Road in Mumbai, along with additional restaurants in Pune and New Delhi. Jain expressed intentions to invest INR 80 crore in this quarter and plans to onboard over 500 new staff members across various outlets.
Food delivery platforms are experiencing a surge in new restaurant partnerships, in line with the bustling outlook for dining out during the final quarter of the calendar year 2023.
A spokesperson from Zomato highlighted a year-over-year rise in the number of new business listings.
Sidharth Bhakoo, the Vice President and National Business Head at rival company Swiggy, mentioned the platform’s extensive collaborations with numerous restaurants and food entrepreneurs to meet the escalating demand during this festive season.
“We’ve seen a consistent increase in new restaurant onboarding, both in the metros and in smaller cities,” he added.
“Despite a sluggish period in Bengaluru during September and October due to increased travel on long weekends, restaurateurs are now aiming to capitalize on the year-end, leading to a surge in launches,” stated Chethan Hegde, the founder of the 1522 chain of pubs. Hegde further mentioned the upcoming launch of two pubs in Bengaluru and one in Mumbai.
“About 20-25 outlets in the city are in different stages of completion. People wanted to be sure there was not another Covid wave before opening,” said Hegde.
Ethnic wear retailer Neeru’s recently unveiled a new store in Andhra Pradesh, as shared by a company official on social media. Spanning 7000 square feet, this standalone store is positioned at JN Road, Rajahmundry.
“Adding another feather to the cap! Neeru’s now at JN Road, Rajahmundry,” said Avnish Kumar, managing director at Neerus Ensembles Pvt. Ltd. in a LinkedIn post while sharing the images of the new store.
This three-story establishment features an impressive 85-foot frontage to the property.
The store presents an extensive selection of items, encompassing sarees, lehengas, gowns, and bridal wear collections for women. Additionally, it features dedicated sections for men’s and children’s wear.
Established in 1971 in Hyderabad by the mother-son pair Basant Kaur and Harish Kumar, Neeru’s saw its inaugural retail store, Neeru Emporium, open in 1979. The expansion continued with the establishment of Neeru’s Textiles in 1983, focusing on manufacturing and wholesaling fabrics to over 1000 retailers across the country.
Presently, this retailer possesses 52 exclusive brand outlets (EBOs) and 49 multi-brand outlets (MBOs) situated nationwide. Among them, over 20 stores grace various locales in Hyderabad, such as Banjara Hills, King Koti, Jubilee Hills, Somajiguda, Dilsukhnagar, Himayatnagar, Nagarjuna Hills, and Kukatpally.
The company maintains a presence in more than 25 cities across India, spanning locations like Hyderabad, Mumbai, New Delhi, Thiruvananthapuram, Pune, Gurugram, Khanpur, Bangalore, Chennai, Noida, Lucknow, Raipur, Vijayawada, Visakhapatnam, Tirupati, Nizamabad, Rajahmundry, and Guntur.
Additionally, it has a retail presence through major retail chains in India, partnering with the Landmark Group and Reliance Retail.
The UK-based fashion brand Pepe Jeans London has teamed up with the e-commerce platform GoKwik to extend its cash-on-delivery reach across India and decrease return expenses, as per a company statement released on Tuesday.
Pepe Jeans and Gokwik have joined forces to expand the company’s digital footprint, broadening the cash-on-delivery service to cover a wider array of postal codes. By leveraging Gokwik’s extensive network intelligence, which reaches over 100 million shoppers, Pepe Jeans is striving to reduce the number of undeliverable cash-on-delivery orders.
“Cash on delivery is a distinct preference for the majority of Indian consumers, and this preference brings with it the intricate issue of RTO,” said Manish Kapoor the CEO and MD of Pepe Jeans India.
The statement emphasized that Cash on Delivery (COD) holds significant appeal in India and plays a vital role in achieving sustained business growth.
Gokwik is renowned for its data-driven intelligence solution, which assesses customers’ behavior based on 200 parameters and computes the likelihood of order returns. Gokwik asserts that its solution has rescued brands by saving over 130 crores.
“We are constantly committed to building solutions that help eCommerce brands grow at a high speed yet sustainable pace,” said Chirag Taneja, Co-Founder & CEO of GoKwik.
Established in 2020, Gokwik is a forward-thinking entity that leverages data and technology to develop a comprehensive solution suite aimed at empowering eCommerce and direct-to-consumer (D2C) brands, enabling them to achieve significant business growth. Pepe Jeans, originally founded in Portobello, London, United Kingdom in 1973, made its foray into the Indian market in 1989.
On Tuesday, Tata Consumer Products Limited (TCPL), a prominent player in the FMCG sector, announced that its board of directors has granted approval for the merger of its wholly-owned subsidiaries, which include NourishCo Beverages Limited, Tata SmartFoodz Limited, and Tata Consumer Soulfull Private Limited, with the main company. This decision was communicated through a regulatory filing by TCPL.
According to the filing, the designated date for the scheme is April 1, 2024.
The recipient company, TCPL, previously acquired and held all the equity shares issued by the transferring companies—NourishCo Beverages Limited, Tata SmartFoodz Limited, and Tata Consumer Soulfull.
In accordance with the share purchase and investment agreement established on February 2, 2021, TCPL has acquired all the optionally convertible preference shares of Tata Consumer Soulfull Private Limited (previously identified as Kottaram Agro Foods Private Limited) (“TCSPL”) from its previous promoters.
Consequently, Tata Consumer Products now owns the complete share capital of all three transferring companies, including TCSPL. Given that TCPL is the parent company holding all shares in the share capital of the transferring companies, it is not permitted to issue or allocate any new shares to itself in connection with the merger. As a result, no new shares will be issued by TCPL as part of the amalgamation.
The scheme is contingent upon obtaining essential statutory and regulatory endorsements, including approval by the esteemed National Company Law Tribunal in accordance with Sections 230 and 232 of the Companies Act, 2013. This proposal is designed to be advantageous for both the transferring and transferee companies and is expected to deliver favorable outcomes for shareholders, creditors, employees, and all relevant stakeholders.
Tata Consumer Products Limited primarily operates in the field of producing, promoting, distributing, and selling consumer goods. The company offers a wide range of products within the food and beverage sectors, encompassing items like tea, coffee, water, edible salt, spices, protein-based foods, ready-to-eat and ready-to-drink beverages, along with various other consumer products. These products are marketed under well-known brands such as Tata Tea, Tetley, Tata Salt, Tata Sampann, and more.
On Tuesday, Tata Consumer Products Ltd (TCPL) announced a 6.55 percent decrease in its consolidated net profit for the September quarter, with earnings totaling INR 363.92 crore. This dip comes despite robust growth in its domestic operations. In comparison, the company had reported a net profit of INR 389.43 crore during the July-September quarter in the previous year, as disclosed in a regulatory filing by TCPL, formerly known as Tata Global Beverages Ltd.
During the quarter under review, the company’s revenue from operations increased by 11.02 percent, reaching INR 3,733.78 crore, compared to INR 3,363.05 crore in the corresponding period from the previous year.
In the September quarter, the total expenses for Tata Group’s FMCG division amounted to INR 3,318.18 crore, marking a 9.8 percent increase.
In the September quarter, TCPL’s total revenue surged by 12.71 percent, reaching INR 3,823.61 crore.
On Tuesday, Tata Consumer Products Ltd’s shares closed at INR 900.60 each on the BSE, marking a 0.81 percent increase from the previous closing price.
Arya.ag, India’s largest and only profitable grain platform, is proud to announce a strategic collaboration with Fortune Rice Limited aimed at advancing crop monitoring capabilities for the agricultural industry. This partnership will utilize Arya.ag’s cutting-edge satellite surveillance product in tandem with Fortune Rice’s agricultural expertise to enhance the monitoring and growth of paddy crops.
Within this partnership, Fortune Rice Limited will furnish information regarding 2000 acres of monitored farmland. Arya.ag will offer in-depth perspectives on crop health and growth trends, equipping farmers and agribusinesses with data-powered tools for making informed decisions.
A pivotal aspect of this partnership involves the incorporation of Arya.ag’s Artificial Intelligence and satellite surveillance technologies to grant access to extensive datasets, intricate maps, and a secure Application Programming Interface (API) tailored to streamline data retrieval. This integration will enable real-time monitoring and analysis of subscribed districts, villages, and blocks, providing a more profound insight into crop performance. It will facilitate the early identification of irregularities in the monitored farmland, allowing for prompt action in terms of irrigation, fertilization, and pest control to enhance operational efficiency and crop yield. Moreover, this user-friendly mobile application will be the conduit for these advancements.
“We are excited about our collaboration with Fortune Rice, which represents a significant step towards optimizing crop management,” said Anand Chandra, Co-Founder and Executive Director of Arya.ag. “Together, we will transform the way farmers and agribusinesses monitor and manage their crops, ensuring food security and sustainable agricultural practices.”
Jai Kumar Gupta, Executive Director at Fortune Rice Limited, stated, “We are delighted about our collaboration with Arya.ag which represents a big step towards modernizing agriculture. Through this collaboration, we will be able to monitor and improve the performance of our paddy crops by utilizing cutting-edge technologies. We hope to promote sustainable agriculture, assure food security and provide farmers with useful data-driven insights.”
Fortune Rice’s dedication to leveraging cutting-edge technology seamlessly aligns with Arya.ag’s mission to transform agriculture with data-driven solutions. This partnership represents a noteworthy achievement in the pursuit of a more sustainable and productive agricultural industry.
Arya.ag, India’s largest and rapidly expanding integrated grain commerce platform, has revolutionized the grain commerce value chain by eradicating trust deficits. Its disruptive PAN India platform provides value to all stakeholders by granting access to high-quality produce, products, and services. With a continually expanding network spanning 425 districts across 21 states, 11,000 warehouses, and a grain volume of USD 2.5 billion, Arya.ag assures quality supply to buyers and ensures timely and equitable payments to sellers and service providers. Additionally, the platform seamlessly incorporates finance solutions to maximize value for both sellers and buyers, facilitating an annual finance volume exceeding USD 700 million.
Fortune Rice Limited, a prominent firm, has been a key player in rice manufacturing and exportation since 2005, seamlessly combining excellence and innovation. The company specializes in providing both basmati and non-basmati rice, focusing on the production of top-tier rice varieties. Across the years, Fortune Rice has garnered an outstanding reputation nationwide, solidifying its position as a trusted and esteemed name within the industry.
Lately, the company has been devoted to cultivating paddy in close collaboration with ground-level farmers, adhering to the rigorous international food safety standards of the European Union (EU) and the United States, among others. This dedicated emphasis has enabled us to guarantee that our products meet the most stringent levels of quality and safety, satisfying the demands of discerning customers.
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