Newsletter | Zomato rolls back green uniform for Pure Veg Fleet; Rising Bharat 2024 & more

Giving an update on the latest service, Goyal wrote on X: "While we are going to continue to have a fleet for vegetarians, we have decided to remove the on-ground segregation of this fleet on the ground using the colour green. All our riders — both our regular fleet and our fleet for vegetarians, will wear the colour red."

 

Hindustan Unilever Ltd. is evaluating various options for its ice cream business, the company told CNBC-TV18 exclusively in a statement. The move comes after its parent Unilever Plc, decided to spin off its $8 billion ice cream business.

The company said in a statement that it will hold discussions with the board and Unilever's management in the coming month and further communication will be disclosed one the approach is finalised.

Ice cream contributed 3% to HUL's overall revenue in financial year 2023.

 

The Union Public Service Commission (UPSC), on Tuesday, postponed the civil services preliminary examination from May 26 to June 16, 2024, citing the upcoming Lok Sabha elections.

"Due to the schedule of the impending general election, the commission has decided to postpone the civil services (preliminary) examination-2024 which also serves as a screening test for the Indian Forest Service examination, 2024, from 26-05-2024 to 16-06-2024," the notification from UPSC said.

 

#RisingBharat

Every bull market has leadership, said ace investor Ramesh Damani on Tuesday, while adding that the public sector undertakings (PSUs) have played a partial role in leading India's current bull market rally.

"Every bull market has leadership. So the 2000 bull market, for example, was about the technology stocks in India.This bull market is partially being led by the PSU stocks," said Damani at at the ongoing Rising Bharat Summit 2024 in New Delhi which also included Jefferies' Aashish Agarwal, Advent International's Shweta Jalan and Convergent Finance's Harsha Raghavan.

Damani further added that the level of corporate governance has improved in these firms, and the PSU sector will continue to lead this bull market higher.

On a key concern regarding the presence of froth in the market, Damani said, “Don’t think there is a bubble.” He added that it is a natural aspect of market dynamics, one that typically gets corrected over time.

"All bull markets end, even this one will end, but for now, it’s a green signal ahead. I feel the market is at a reasonably good state," added Damani.

That said, Damani also cautioned and underscored the importance of vigilance in investment decisions. He advised investors to exercise caution and diligence in their investment choices, emphasising the need to carefully scrutinise potential purchases.

Visa CEO Ryan McInerney acknowledges the transformative impact of Indian fintechs on global payment systems, particularly in the realm of QR payments. Speaking at the Rising Bharat Summit 2024, McInerney highlights how India's innovative approach has paved the way for a paradigm shift towards QR as a preferred form factor, reshaping the future of transactions worldwide. Mcinerney is also optimistic about generative AI and is looking to invest in generative AI startups in India.

#PersonalFinance

As the financial year 2023-24 draws to a close, individuals must be preparing for several tax-related work. However, this year poses a unique situation with March 31 falling on a Sunday, and the preceding days comprising a long weekend due to Good Friday falling on March 29.

Despite this, the Income-Tax department has announced that it will not be observing this long weekend and will remain operational from March 29 to March 31 to facilitate the completion of pending tax-related tasks.

This decision comes as a relief for many taxpayers who might have been concerned about the limited timeframe to address any pending tax matters.

 

Deloitte has launched the largest restructuring of its global operations in ten years, according to a Financial Times report. The Big Four firm aims to save expenses and simplify the organisation in the face of an anticipated slowdown in the market, the report added.

As part of the plan, Deloitte’s main business units will be cut to four—audit and assurance; strategy, risk and transactions; technology and transformation; and tax and legal—from the five the firm has had since 2014, the FT report said.

The report also added that "a figure had not yet been put on the savings" and the Big Four firm's global chief executive, Joe Ucuzoglu told partners in an email that the plan would "free up" more employees to work with clients rather than manage staff internally. The company has more about 4.55 lakh employees.

FCM Travel India, a leading global corporate travel management company, recently organised its first-ever FCM Corporate Travel Summit in Mumbai in collaboration with the Global Business Travel Association (GBTA). The summit, sponsored by industry giants such as Hyatt India Hotels, Amadeus, and Singapore Airlines, gathered over 150 professionals from the travel sector, including influential decision-makers.

Discussions during the event covered a wide range of topics, including the latest trends in business travel, technological advancements, meetings, events, and sustainability initiatives.

 

Beyond #Newsroom 📰

Follow the CNBC-TV18 channel on WhatsApp

Catch crispy news updates on the go!- CNBCTV18 Minis

Watch all #videos under one segment- CNBCTV18 Binge

We bring you real-time updates and analysis of the stock market- Real-time market updates

We'll see you tomorrow with another engaging '11:11'