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Here are the top stories to start your day.
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⭐ Maruti eyes top spot in SUV segment 🚗
India’s largest car manufacturer Maruti Suzuki is eyeing the top position in the SUV segment by launching multiple models in upcoming months. The company has a range of SUVs priced under ₹20 lakh. The SUV segment contributes nearly 40% of the total industry sales. Meanwhile, the recently launched Brezza and Grand Vitara have already garnered 73,000 bookings till date.
⭐ Havells India posts tepid Q1 profit growth 💡
Havells India reported a 3.1% year-on-year rise in its Q1 net profit to ₹243 crore. Profitability was impacted by fluctuations in commodity costs. The tepid bottomline growth was despite a solid 62% rise in its revenue from operations at ₹4,244 crore. However, the management said that the recent cost moderation will begin reflecting in the coming quarters.
⭐ Emami Agrotech bets big on spice biz 💰
Emami Agrotech, a subsidiary of Emami Group, said its packaged spices business might attract revenues of ₹700-1,000 crore over the next five years. According to an industry report, India’s branded spices market is set to double to touch ₹50,000 crore by 2025. The company said it is rolling out its spices range nationwide. It also plans to expand its footprint across 2,000 stores by the end of 2022 and 5 lakh outlets by 2025.
Global markets (at 7:30 AM today)
| Indices | Today's movement |
| SGX Nifty | ▲ 0.13% |
| Nikkei 225 (Japan) | ▼ 0.08% |
| Hang Seng (Hong Kong) | ▼ 0.94% |
| SSE Composite (China) | ▼ 0.45% |
| Dow Jones (US) (July 20) | ▲ 0.15% |
| NYSE (US) (July 20) | ▲ 0.08% |
| Nasdaq (US) (July 20) | ▲ 1.58% |
| S&P 500 (US) (July 20) | ▲ 0.59% |
Fact of the day
Japan has the world's most powerful passport with visa-free entry to 193 countries. Meanwhile, India’s passport is ranked 87th, offering visa-free access to 60 countries.
Source: Economic Times