Bullets

Myntra, India's leading fashion e-commerce platform, has turned the page on its losses. In the last fiscal year, they raked in a profit of ₹30.9 crore!

How did they do it? By boosting sales, cutting costs, and focusing on logistics and advertising.

It seems like fashion is back in style, and Myntra is leading the trend.

Stay tuned for more updates with Bullets by Insider.

Flipkart, India's e-commerce giant, is planning a massive IPO in the next year or so.

To make this happen, they've shifted their base from Singapore to India. This move could set a new record for the largest IPO by a new-age company in India.

Are you curious for the next big tech IPO? Stay tuned for more updates on IPOs!

TikTok, the popular short-form video app, is facing a potential ban in the US. The US government is worried about the app's Chinese ownership and the potential risk to user data.

President Biden has signed a law that could force TikTok's owner, ByteDance, to sell the app to a US company. If a deal isn't reached, TikTok could be banned as early as January.

What will TikTok do now that its going to lose yet another big consumer base apart from India?

Paytm's parent company, One97 Communications, is selling its stake in the Japanese payments firm PayPay. This move is expected to boost the company's cash reserves.

This isn't the first time Paytm has sold off assets. Earlier this year, they sold their ticketing business, Paytm Insider, to Zomato.

What do you think about Paytm's recent moves? Is this a smart strategy for the company?

Also Read: Is Paytm going to lose its payment licence?

The Reserve Bank of India (RBI) Governor Shaktikanta Das announced the Monetary Policy Committee's decision to keep the repo rate unchanged at  6.5%. This decision came amid high inflation and economic slowdown in the country. 

The Cash Reserve Ratio (CRR) has also been reduced from 4.5% to 4%. CRR is a tool used by RBI to manage inflation and control excessive lending by banks. 

But have you ever wondered what would happen if there's no inflation? We have the answer. Check out here.

Nykaa Fashion CEO Nihir Parikh has stepped down from his role. However, he will continue to contribute as a member of its Board of Directors. 

The majority of the revenue of Nykaa comes from its beauty segment. The fashion vertical accounts for less than 10 per cent and is still loss-making. Nykaa reported a net profit of ₹12.97 Cr. and revenue of ₹1,874 Cr. for Q2 FY25. 

Check out the full story of how Nykaa became a success story.

Tata Electronics is planning to diversify beyond its “just an Apple supplier" status. It's aiming to become India's Foxconn. 

It’s targeting multiple tech giants like Microsoft, Dell, and HP to expand its contract manufacturing portfolio. Tata's strategy aligns with its ambition to become a key player in the global electronics manufacturing landscape. 

Check out Tata Group's other companies that are doing great in terms of market cap.

Swiggy Instamart is focusing on increasing its average order value (AOV) as part of its strategy to improve profitability in the competitive quick commerce space 

It reported 75% year-on-year gross sales growth in the September quarter. However, its AOV is ₹499, which is lower as compared to its competitors like Blinkit, with a reported AOV of ₹600. 

Swiggy also launched its IPO this year. Check out the full story here.

A US court has sanctioned millions of dollars on Byju's Chief Content Officer Vinay Ravindra & business partner Rajendran Vellapalath. 

The sanctions relate to their failure to comply with a court-ordered deposition, which could impact Byju's ongoing legal & financial struggles. 

This added another setback in the series of global setbacks the company's is facing.

To know the full story of the financial struggles of Byju's. Click here.

Unacademy has reportedly held a discussion with Allen Institute to sell the edtech platform for around $800 million (₹6,774.4 Cr.), marking a significant drop in valuation from its $3.4 billion (₹25,302 Cr.) peak in 2021. 

The talks reflect the challenges faced by India’s edtech sector, which has struggled with a prolonged slowdown post-pandemic. The after-effects of Byju's bankruptcy are another factor contributing to the deal. 

Aakash Insitute is also facing trouble because of its association with Byju's. Click here to know more.

Elon Musk's space exploration company, SpaceX, is now valued at $350 billion (₹2.96 Cr.). It has surpassed its earlier considered value of $255 billion (₹2.16 Cr.) as reported last month. This new valuation makes SpaceX the most valuable private startup in the world. Earlier this year, in another tender offer, the company was valued at $210 billion (₹1.77 crores).

Check out how SpaceX is also collaborating towards advancements in India's satellite technology. 

Flipkart is entering its 10-minute delivery market with its new service, Flipkart Minutes. This would likely make it the first quick-commerce service to deliver medicines. 
The platform plans to leverage its extensive logistic network by partnering up with local pharmacists to ensure ultra-fast deliveries. 

However, this has been criticised by Devangshu Dutta, chief executive at consulting firm Third Eyesight. He pointed out that undertaking quick commerce for pharmaceutical products wouldn’t be sustainable due to logistic-based issues. 

Is Flipkart being desperate to make its way to the quick-commerce industry? Check out the full story on why Flipkart is failing to attract investor’s attention.
 

Everything’s done virtually these days, even love. Artificial Intelligence is reshaping modern relationships with AI chatbots like Character.ai, Replica, Candy.ai, kupid.ai, and many more. 

These companies capitalise on the natural human desire to find love and overcome loneliness. 

And they're indeed earning a lot! Candy.ai was launched in September 2024 and has already hit $25 million (₹211.3 crores) in annual recurring revenue.

India is also a participant in this AI race with Urvashi, the AI girlfriend created by Jani Infotech. This app has been uploaded more than 10,000 times on the Google play store. 

However, one cannot ignore the benefits of AI in other sectors. Several Indian companies have incorporated AI into their business. 

Click here to know about these companies.

The Indian government is reportedly planning to relax security norms for satellite communication (Satcom) to attract private investments, most likely Elon Musk's Starlink and Jeff Bezos' Amazon Kuiper in India. 

This move comes as India looks to strengthen ties with Elon Musk's SpaceX, which recently launched GSAT-20, the Indian Space Research Organisation's (Isro) communications satellite, from Cape Canaveral in Florida, US. 

But Elon Musk has made some sensationals deals in the past. His Twitter acquisition is one of the most famous ones. 

Click here to check out the full story of his Twitter deal.

Bangladesh is negotiating to lower power tariffs under its deal with Adani Power, citing economic challenges and rising concerns over affordability. 

This move comes at a time when Adani Group is currently facing allegations of $265 million (₹226.5 crore) bribery scheme from the US officials.

Adani Group is also under investigation ordered by a High Court in Bangladesh regarding the 25-year deal signed in 2017 with Adani Power for coal-fired energy from a $2 billion (₹13,552 crore) plant in eastern India, as per Bangladesh's energy minister.

To know more about Adani Power and its market position, click here.

The Supreme Court of India on Friday restrained Aakash Educational Services (debt-laden Byju’s) from proceeding with its plans to amend its Articles of Association (AoA).

Two minority shareholders of Aakash Educational Services- Singapore VII Topco I Pte and BCP Asia Athena ESC (Cayman) appealed to the Supreme Court, barring Aakash from amending the AoA.

The amendment sought to alter key clauses potentially impacting the rights and obligations of existing stakeholders. The legal dispute also arose in the midstarose midst of Byju's ongoing financial struggles, raising concerns about governance and decision-making within its subsidiaries.

To know what’s going on with Byju’s, click here.

30 November 2024 is the last day to submit Jeevan Pramaan Patra (or Life Certificate) for pensioners.

This is a crucial step for all pensioners in India to ensure uninterrupted pension payments. F

The Life Certificate can be submitted online through the Jeevan Pramaan App or by visiting designated banks. Your next payment cycle will resume when the Central Pension Processing Centers (CPPC) will receive and process your certificate.

Want to know about the best retirement investment plans to secure your future? Click here.

As per a recent NielsenIQ study, ~3/4th of mid-sized companies favour e-commerce as their top sales channel.

Emerging manufacturers are witnessing e-commerce growth 1.5x faster than the category averages.

Meanwhile, convenience stores are gaining momentum, achieving a 48% penetration rate in India, compared to the global average of 18%.

The fastest-growing categories in 2024 (till Sep) with their growth rate:

• Ready-to-eat products - 52%
• Salty snacks & refined edible oils - 41%
• Biscuits - 40%
• Packaged atta - 39%

Also, read how 2 FMCG giants stack up against each other in this detailed comparison.

CarDekho, India's leading auto marketplace, saw a slight dip in its annual revenue. However, if you exclude the impact of their discontinued used-car business, their core operations actually grew by a significant 54%.

The company has shifted its focus to online classifieds, insurance, and fintech services.

Want to know more about CarDekho's strategy? Stay tuned for updates with Bullets by Insider!

The Life Insurance Corporation of India (LIC) is planning to acquire almost half of the stakes in ManipalCigna Health Insurance. ManipalCigna is a joint venture between Bengaluru-based group, Manipal Education & Medical Group and US-based Cigna Corporation.

Manipal Group holds a 51% stake in the standalone health insurance company, while Cigna Corporation owns the remaining 49%.

This acquisition will allow the government-owned LIC to diversify its services and enter into the health insurance sector, which constitutes 37% of the ₹3 lakh crore general insurance industry.

Can LIC earn India's trust in health insurance as well? Click here to know more.