Good morning!
Here are the top stories to start your day.
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⭐ HUL makes strategic investment
Hindustan Unilever has forayed into the ₹30,000 crore health & wellbeing industry through strategic investments in two companies - Zywie Ventures and Nutrionalab. For now, HUL will pay a total of about ₹335 crore for 51% stake in Zywie and about 20% in Nutritionalab. The companies have an annual turnover of about ₹100 crore and ₹50 crore, respectively. Zywie focuses on plant based nutrition, skin & hair health and women’s health products, while Nutritionalab has products related to sleep, beauty and gut health.
⭐ India’s mobile phone export could rise
As per the government, India’s mobile phone exports could witness a rise of upto 57% in the current fiscal year. The exports could be as high as $9.1 billion. Further, it is believed that exports will be of classic and leading brands such as Apple, which is made in India.
⭐ ITC’s premium segment sees rural demand
FMCG major ITC is witnessing good demand for its premium products in the rural market. As per company management, the uptick in rural market (especially in the personal care product) is due to higher market penetration, rise in number of stockists together with the digitisation of the entire rural distribution network. Recently, the management of Patanjali Foods had also commented that it is working towards the premium end of the oil products. Further, in terms of demand, it expects a strong second half of FY23.
⭐Domestic air traffic on the rise
As per credit rating agency Icra, domestic air passenger traffic increased by 13% year-on-year to 23.4 million in November. Rise in business and leisure travel along with reopening of offices have propelled domestic air traffic. However despite the rise, the air traffic is still 7% below compared to the same month of the pre-pandemic period.
Global markets (at 8:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.39% |
| Nikkei 225 (Japan) | ▲ 1.35% |
| Hang Seng (Hong Kong) | ▲ 0.74% |
| SSE Composite (China) | ▼ 0.27% |
| Dow Jones (US) (December 08) | ▲ 0.55% |
| NYSE (US) (December 08) | ▲ 0.59% |
| Nasdaq (US) (December 08) | ▲ 1.13% |
| S&P 500 (US) (December 08) | ▲ 0.75% |
Fact of the day
As per the Railway Ministry, Indian railways was able to reduce its diesel consumption by 50% in 2020-21. It thus cut its fuel bill by a whopping ₹5,000 crore in a year.
Source: Economic Times