Blinkit and Zepto, two major quick commerce platforms, are venturing into the fashion segment by partnering with apparel firms and sellers. They plan to add categories like fashion, beauty, electronics, toys, and home and kitchen. Zepto, the first unicorn of 2023, has already achieved $1 billion in annualized gross sales. These platforms are expected to significantly impact established ecommerce rivals Flipkart and Amazon, as well as nearby kiranas, by increasing the scale of quick commerce.
Passenger vehicle (PV) sales in the domestic market grew in single digits last month, driven by robust consumer demand during the festivals in the first two weeks. The annual growth rate in wholesale despatches from factories to dealerships moderated to 3.7% compared with 15.9% growth in October.
Ashok Sonthalia, CFO of Titan Company, reveals the demand for jewellery during the festive season, the growth in different segments, and the company’s strategies for expansion and market share growth.
Geopolitical concerns, rising crude oil prices, and spikes in US treasury yields warrant caution in equity markets, says Akhil Chaturvedi, Chief Business Officer at Motilal Oswal Asset Management Company. While short-term volatility may occur, these concerns are less likely to have a lasting impact on the markets. He also discusses the long-term implications of geopolitical concerns on the commodity cycle, fund selection strategies, expectations from September quarter earnings, the suitability of PSU stocks, and the sectors to watch during the World Cup and festive season.
Kotak Institutional Equities has ceased to recommend Indian mid-cap companies as it finds limited upside potential following the significant surge in the mid-cap index this year. The rally, driven by irrational exuberance among investors, has raised concerns about a potential market correction. Most of the stocks in Kotak’s model mid-cap portfolio are currently trading near their fair values. The brokerage has found limited opportunities for significant upside potential outside of the banking, financial services, and insurance sector. Kotak has also raised concerns about the quality of certain stocks due to weak execution and governance in the investment sector.
