Ottawa will lift the 30% investment cap on pension funds in Canada.

In an effort to encourage greater investment, the government of Prime Minister Justin Trudeau is loosening regulations for domestic pension funds, enabling them to purchase over 30% of a Canadian company.Two days priorBloomberg — In an effort to encourage greater investment, the government of Prime Minister Justin Trudeau is loosening regulations for domestic pension funds, enabling them to purchase over 30% of a Canadian company."The battle for capital has never been more intense at a time of growing economic nationalism," said Finance Minister Chrystia Freeland in a statement on Friday."Canada must battle for capital more vigorously than ever before, which includes encouraging and assisting Canadian capital to invest domestically. All Canadians' future prosperity depends on this. The Canada Pension Plan Investment Board and other federally regulated pension managers will be affected by the change, although Freeland's department stated that it will confer with provincial governments over how to handle pension plans that are under to their regulations.Additionally, the government announced that it intends to contribute up to C$15 billion ($10.5 billion) in loans and equity to support the construction of AI data centers, noting that seven pension funds have already indicated interest in supporting such initiatives. The statements coincide with a national discussion about how to address low productivity and soft business expenditure. For a number of years, non-residential corporate investment in Canada has not kept pace with that of the United States. Although the technology industry in Canada is thriving, many promising businesses sell out or relocate to the US at a relatively early stage of development in order to seek expansion. Few IPOs worth more over $100 million have been made on the Canadian market in recent years.The government stated that as part of the extensive package of initiatives, a fourth round of the Venture Capital Catalyst Initiative will be launched, with C$1 billion in funding in 2025–2026 and "more enticing terms for pension funds and other institutional investors." Additionally, Freeland and the government are considering changing ownership regulations that prohibit pension funds from controlling over 10% of municipal utilities, including electricity distributors. Stephen Poloz, the former governor of the Bank of Canada, was asked in April to research ways to encourage the nation's pension funds to make greater investments in Canada. One suggestion was to eliminate the 30% ownership cap. Poloz told Bloomberg in September that several pension funds expressed interest in playing.  

Private companies poised to boost the economy

Leading entrepreneurs said Thursday that China's private companies are confident in their ability to overcome obstacles and take advantage of opportunities in a changing global environment because the government has implemented a number of policies that assist the private sector.The chairman and CEO of Tencent Holdings, Ma Huateng, stated in a People's Daily essay on Thursday that the government has lately implemented a potent set of incremental measures that have assisted in addressing the urgent issues and bottlenecks that have hampered the economy. "These actions are directly addressing the demands of the market and giving companies new hope that the government will continue to pursue a stable economic recovery. Additionally, this has given businesses more confidence and strengthened their conviction that they should act boldly and decisively in order to proceed with unwavering determination," Ma said.He believes that the internet and the digital technology sector are essential to reviving the economy. According to him, Tencent has been investigating new directions in digital consumption and developing a variety of models and scenarios to increase demand. "Looking ahead, Tencent is committed to ramping up investment in line with government encouragement, championing the spirit of entrepreneurship, and weaving together technological innovation and industrial advancement more deeply than ever before," Ma said.  

PIA selling obstacles will soon be removed

The two main barriers to PIA's privatization have been removed with the approval of the International Monetary Fund (IMF), which waives the 18% sales tax on aircraft leases for induction into PIA and for depositing additional liabilities in a holding company.The development might assist restart the fourth-largest loss-making organization in Pakistan's privatization process. During a briefing on the PIA sell-off on Tuesday, Deputy Prime Minister Ishaq Dar learned that the two largest obstacles would soon be lifted, according to sources.After the government rejected their proposals to eliminate the sales tax and pay the remaining Rs45 billion in obligations to convert the negative equity to positive, the serious PIA bidders earlier withdrew. The PIA privatization process might soon be resurrected with the IMF's approval. In order to persuade the IMF to permit the tax exemption and the addition of additional liabilities in a holding company, the Finance Ministry and the Privatization Commission engaged in talks with the organization. The government split the business into two firms earlier this year and transferred Rs623 billion in liabilities from the primary PIA to a holding company.The PIA bidders requested last month that the government remove the 18% sales tax on new or leased aircraft and write off an additional Rs45 billion in liabilities, according to Privatization Secretary Usman Bajwa. The Federal Board of Revenue was responsible for around Rs26 billion in liabilities, the Civil Aviation Authority provided bridge financing of Rs10 billion, and other liabilities amounted to Rs9 billion. The Privatization Commission informed the IMF that the privatization had failed due to the two requirements, and it asked the IMF to grant it permission to write off Rs45 billion in liabilities and exclude the sales tax.  

Although the sector is skeptical, Britain hopes to replace the U.S. as a global center for cryptocurrency.

LONDON— Britain is making a new attempt to establish itself as a global center for cryptocurrency, but it will have a difficult time doing so given opposition from regional business owners and competition from the United States under President-elect Donald Trump.The Labour government in Britain has pledged to create a welcoming atmosphere for companies involved in blockchain and cryptocurrency-related ventures.The government wants to work with companies on draft legal measures for digital assets, such as stablecoins, which are tokens based on the value of sovereign currencies, "as early as possible next year," according to a recent speech by U.K. Economic Secretary to the Treasury Tulip Siddiq.Additionally, she stated that the government would not consider cryptocurrency staking services—which pay out on users' token holdings—to be collective investment schemes. Insiders in the cryptocurrency sector were concerned that such a treatment would have resulted in onerous regulatory requirements. At an event last week hosted by the U.K. branch of Coinbase-backed advocacy group Stand With Crypto, Britain's investment minister, Poppy Gustafsson, stated, "This is a sector with enormous potential and a sector that's already playing a central role in the U.K.'s vibrant tech landscape." According to Gustafsson, the government is "already taking decisive steps to support this sector and ensure that we remain at the forefront of this global innovation" and is "committed to fostering and embracing blockchain."  

The China Cotton Association regrets the statement made by the Uniqlo CEO.

The China Cotton Association has urged relevant enterprises to restart using cotton from the Xinjiang Uygur autonomous region and has expressed remorse over recent remarks made by the CEO of the company that makes Uniqlo."We are looking forward to relevant companies actively responding to the concerns of Chinese consumers and industry organizations, resuming the use of cotton from Xinjiang, and taking practical actions to maintain the health and stability of the global cotton textile industry," the organization stated in a statement.The remarks come after a recent BBC story that quoted Tadashi Yanai, CEO of Uniqlo's parent business, Fast Retailing Co Ltd, as saying that the fast fashion brand doesn't utilize Xinjiang cotton in its goods.In the past, Uniqlo has stated that it does not reveal the source of its raw materials and has affirmed that its manufacturing processes have not changed recently. A spokesman for the Chinese Ministry of Foreign Affairs responded by expressing the expectation that pertinent businesses would make autonomous business decisions that are in line with their own interests while fending off political pressure and excessive meddling.One of Uniqlo's most important markets is still China. With 1,032 locations nationwide, including 926 on the Chinese mainland, China is Uniqlo's largest market in terms of both store count and revenue, coming in second only to Japan. However, the company's earnings growth has slowed. Uniqlo China reported a 9.2 percent increase in revenue to 677 billion yen ($4.5 billion) in the fiscal year 2024 (September 2023 to August 2024), while operating profit increased by 0.5 percent to 104.8 billion yen. In 2025, the company expects operating profit margins in China to slightly improve along with more revenue and profit growth. It intends to open 60 new stores nationwide in fiscal 2025, as opposed to 54 new openings and 53 closures in fiscal 2024.    

US Airbnb users mine $84 lakh in cryptocurrency, and the host pays the $1.25 lakh power cost.

Keep reading to learn about Bill Gates, Elon Musk, Mukesh Ambani, and Gautam Adani, as we bring you up to date on all the latest business news. Follow the most recent prices for both gold and silver here. With us, stay on top of everything business-related.During their three weeks at the house, a group of Airbnb visitors in North Carolina mined cryptocurrency valued at over $100,000 (about Rs 84 lakh). The property owner, Ashley Class, was left with an electricity bill of $1,500 (around Rs 1.25 lakh). Class has responded by enacting a new regulation that forbids mining cryptocurrencies on her rental homes. Class talked about her experience. During their three weeks at the house, a group of Airbnb visitors in North Carolina mined cryptocurrency valued at over $100,000 (about Rs 84 lakh). The property owner, Ashley Class, was left with an electricity bill of $1,500 (around Rs 1.25 lakh). Class has responded by enacting a new regulation that forbids mining cryptocurrencies on her rental homes. In a TikTok video, Class talked about her experience and said she saw the visitors had brought at least ten computer rigs for mining after seeing footage from her outdoor camera. "It was cheaper for them to rent a house than to pay for that electricity," the woman observed. Class also stated in the video that she contacted the visitors to let them know she would be billing them for using too much electricity. The  

Two months before it was released, Hindenburg gave the client access to the Adani study. Sebi

Hindenburg was accused by Sebi of earning "unfair" gains through "collusion" to exploit "misleading" and "non-public" information to cause "panic selling" of Adani Group equities.According to market regulator Sebi, US short-seller Hindenburg Research made money from a contract to split profits from share price movement and sent New York-based hedge fund manager Mark Kingdon an advance copy of its devastating report about the Adani group roughly two months before it was published.In a 46-page show cause notice to Hindenburg, the Securities and Exchange Board of India (Sebi) described how the US short seller, the New York hedge fund, and a broker associated with Kotak Mahindra Bank profited from the USD 150 billion decline in the market value of the ten listed companies in the Adani group following the report's release. Hindenburg was accused by Sebi of earning "unfair" gains through "collusion" to exploit "misleading" and "non-public" information to cause "panic selling" in the Adani Group's equities.In its response, Hindenburg, which had previously made the Sebi notice public, stated that the show cause was an attempt to "silence and intimidate those who expose corruption and fraud perpetrated by the most powerful individuals in India" and disclosed that Kotak Mahindra (International) Ltd., a Kotak Mahindra Bank Ltd. subsidiary based in Mauritius, owned the vehicle used to bet against Adani Enterprises Ltd., the company's flagship company.The KMIL fund made investments in Adani Enterprises Ltd. on behalf of Kingdon's Kingdon Capital Management, a customer.Excerpts from time-stamped conversations between KMIL traders and a hedge fund employee about selling future futures in AEL are included in the Sebi notice. Kingdon "never disclosed that they had any relationship with Hindenburg nor that they were acting on the basis of any price-sensitive information," according to Kotak Mahindra Bank.  

News about stocks include NMDC, KPI Green, Indian Bank, Hero Moto, Tata Motors, Lupin, and Allied Blenders

Before the opening bell on Tuesday, July 02, stocks like Allied Blenders, Lupin, Tata Motors, NMDC, Hero Moto, KPI Green, Indian Bank, Patanjali, and more could continue to be closely watched.Monday's trading session saw significant increases for Indian benchmark indices due to purchasing in IT and financial companies. The BSE Sensex finished at 79,476.19, up 443.46 points, or 0.56 percent. The Nifty50 index on the NSE increased by 131.55 points, or 0.55 percent, to end the day at 24,141.95. The following equities could continue to be watched closely before to Tuesday, July 02, 2024's opening bell:Allied Blenders and Distillers: After raising Rs 1,500 crore through an initial public offering (IPO) that was open for bids from June 25 to June 27, the alcohol manufacturer's shares will make their Dalal Street debut on Tuesday. The shares were sold by the corporation for between Rs 267 and Rs 281, each. As of right now, the stock's GMP was Rs 59 a share. Tata Motors: In June 2024, total domestic sales down 8% YoY to 74,147 units. Sales of commercial vehicles decreased 7% to 31,980 units, while sales of passenger vehicles decreased 8% to 43,524 units. In comparison to the same quarter last year, its overall sales increased 1.6% to 2,29,891 units in Q1 FY25.Hero MotoCorp: The biggest motorcycle and scooter manufacturer in the world sold 5,03,448 units in June 2024, a 15% increase over the same month the previous year. The company sold 4,91,416 units in the home market, up 16% YoY, but exports dropped 15.5% YoY to 12,032 units in the same month.Maruti Suzuki India: In June 2024, the nation's biggest automaker manufactured 133,095 cars, a 2.94 percent decrease from 137,133 cars produced in the same month the previous year. TVS Motor: Sales of 3,33,646 units were recorded by the two-and three-wheeler manufacturer in June 2024, representing a 5% increase over the 3,16,411 units sold in the same month the previous year. In June 2024, sales of electric vehicles increased by 10% YoY to 15,859 units, while sales of two-wheelers increased by 6% YoY to 322,168 units overall. In June, total exports decreased 3.9% year over year to 76,074 units. Lupin: The pharmaceutical company has successfully transferred its Indian commercial generics business to Lupin Life Sciences, a subsidiary.  

After a 20% gain in a month, will Wipro's stock reach its one-year highs again?

Wipro stock price: At Rs 530.70, the stock was last seen trading 3.07 percent higher. It has increased 19.54% at this pricing in the last month. The share price was down 2.82 percent from its 52-week high of Rs 546.10, which was reached on February 2 of this year, notwithstanding the aforementioned increase.Wipro Ltd.'s shares increased 4% on Monday to reach a high of Rs. 535.50. At Rs 530.70, the stock was last seen trading 3.07 percent higher. It has increased 19.54% at this pricing in the last month. The share price was down 2.82 percent from its 52-week high of Rs 546.10, which was reached on February 2 of this year, notwithstanding the aforementioned increase. "The relative value of IT equities appears advantageous when looking at it in the long run. Long-term investors may want to look into equities like Wipro," said WealthMills Securities Director of Equity Strategy Kranthi Bathini.Having said that, Bathini continued, "the upcoming quarterly results and guidance will be extremely crucial going forward." Support for the counter's technical configuration was visible in the Rs 500–490 area. Additionally, additional upside requires a firm close above Rs 545.Wipro has gained a lot of momentum after breaking beyond the Rs 500 barrier. On an intermediate perspective, the stock is ready to attempt the recent swing high of Rs 545. It would be important to keep an eye on the counter for a breakout above the indicated zone, as this might lead to significant traction in a similar amount of time. Any short-term hiccup is probably to be cushioned on the lower end by Rs 500–490, according to Osho Krishan, Senior Research Analyst, Technical & Derivatives at Angel One.  

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Investors should monitor stocks, create a budget, and look for earning signals. Dharmesh Kant of Chola Securities explains.

Throughout the first half of 2024, broader markets outperformed the benchmark equity index. During the month ending on June 27, the BSE MidCap and BSE SmallCap indices experienced gains of 25% and 21%, respectively, while the BSE Sensex had gained about 10% year-to-date. Will mid- and small-cap stocks continue to rise in the second half of this year? Now, what should investors do? Dharmesh Kant, Head of Equity and Derivative Research at Chola Securities, discussed his opinions on the domestic equity markets with Business Today. Revised passages:Throughout the first half of 2024, broader markets outperformed the benchmark equity index. During the month ending on June 27, the BSE MidCap and BSE SmallCap indices experienced gains of 25% and 21%, respectively, while the BSE Sensex had gained about 10% year-to-date. Will mid- and small-cap stocks continue to rise in the second half of this year? Now, what should investors do? Dharmesh Kant, Head of Equity and Derivative Research at Chola Securities, discussed his opinions on the domestic equity markets with Business Today. Revised passages: Investors received exceptional profits from mid- and small-cap stocks in the first half of 2024. What are the markets likely to do next? Kant: The index front for mid- and small-cap stocks saw the majority of this outperformance. Both divisions' breadth was polarized and non-secular. The reason for this is that a small number of equities drove the price and earnings activity in the banking, finance, real estate, automotive and auto-ancillary, and textile industries. Just about 30% of the top 500 stocks by market capitalization are trading at or near their all-time highs at the most recent all-time high (Nifty at 24,000+). Looking at the Nifty 50 basket, where just 10 equities are at or above their all-time highs, the situation becomes much more dire.  

India's current account surplus in March quarter was 0.6 percent due to increased service exports and remittances.

The vital indicator of the nation's external strength has entered surplus mode for the first time in ten quarters.The Reserve Bank of India announced on Monday that the country's current account surplus for the March quarter was USD 5.7 billion, or 0.6% of GDP.The vital indicator of the nation's external strength has entered surplus mode for the first time in ten quarters.The current account deficit was USD 1.3 billion, or 0.2 percent of GDP, in the same period last year and USD 8.7 billion, or 1 percent of GDP, in the previous quarter that ended in December 2023.According to a press statement from the RBI on developments in India's balance of payments, the current account deficit for FY24 decreased to USD 23.2 billion, or 0.7% of GDP, from USD 67 billion, or 2% of GDP, in FY23.Aditi Nayar, chief economist at domestic rating agency Icra, stated that the agency anticipates a minor increase in the FY25 CAD to 1.1–1.2 percent of GDP, although she quickly clarified that this increase will be extremely manageable. She stated that increased domestic demand and higher commodity prices will cause the goods trade gap to widen this fiscal year, and that increased foreign portfolio investments (FPI) in the nation's bond market indexes will be a crucial component in ensuring comfortable financing.The goods trade deficit during January to March 2024 was USD 50.9 billion, which is less than the USD 52.6 billion from the same period the previous year.  

Due to global cues, Sensex and Nifty open poorly analysts warn of overbought signals

Nifty, Sensex, and Stock Prices LIVE: Due to conflicting global cues, the Indian main indices, the Sensex and Nifty, began sluggish on Tuesday. The NSE Nifty dropped 9.55 points to 23,249.65, while the BSE Sensex declined 84.32 points to 76,405.76). The market's confidence was observed by analysts as a result of the major portfolios' continuity, especially with Nirmala Sitharaman serving as Finance Minister. After seeing the market's dramatic V-shaped rebound, Ruchit Jain of 5paisa.com recommended that any corrections be viewed as a necessary component of the uptrend. Following the portfolio allocation, attention now turns to policy initiatives of various government ministries. But worries about possible populist policies surface. UBS India Chief Economist Tanvee Gupta Jain emphasized the importance of a broad-based capital expenditure recovery. The India VIX dropped by 2.71 points.Stock Market Today| Share Market Live Updates - Get all the latest information on the Indian stock markets, share prices, Sensex, Nifty, BSE, and NSE for June 11, 2024, right here.  

In morning trading, Nifty adds 560 points and Sensex moves up 2.46%.

The volatility index, India VIX, decreased even more on Wednesday to 19.45, suggesting a reduction in short-term volatility.The domestic stock market indices, Sensex and Nifty, which opened on Wednesday, May 5, over 1% higher, continued their advances in the morning session, one day after the Lok Sabha elections were announced.At 11:30 am, the Sensex increased by 2.46 percent, or 1,772.04 points, to 73,851.09. At the opening, the index was up 1.32 percent, or 73,027.88, over the previous finish of 72,079.05.After beginning with a gap up of 243.85 points, or 1.11 percent, the wider Nifty also surged 2.56%, or 560.5 points, to an intraday high of 22,445.Following the Bharatiya Janata Party's (BJP) failure to achieve a majority in the general elections on Wednesday, the Nifty 50 plummeted 1,379.4 points, or 5.93 per cent, to close at 21,884.5 and the Sensex lost 4,389.73 points, or 5.74 points, to end at 72,079.05. Only 240 seats were won by the party, many fewer than predicted by the market.The surprise election results will take some time for the market to process. The market will quickly stabilize, but volatility will persist until the cabinet and the major portfolios are clear. Sectoral preferences may shift, but a significant market rebound is unlikely in the foreseeable future, according to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.With the Sensex moving 1,971 points and the Nifty 653 points, the market was very volatile. The volatility index, or India VIX, fell to 19.45 on Tuesday, indicating reduced volatility in the immediate future. On Tuesday, it had surged 51% to 31.71 during intraday transactions and closed at 26.75. Together with coalition allies, the National Democratic Alliance (NDA) will form the Modi 3.0 government. The market will probably become more confident in the stability of both the policies and the politics as a result. Therefore, a positive rebound is anticipated going forward, according to a research from Axis Securities.  

The IATA annual meeting will be hosted in Delhi by IndiGo in 2019

IATA's decision to host its next AGM in Delhi was hailed as a "proud moment for Indian aviation" by Civil Aviation Minister Jotiraditya Scindia.The International Air Transport group (IATA), a trade group for airlines, will hold its annual general meeting (AGM) in Delhi on June 8–10, 2025, hosted by IndiGo. The IATA AGM, a prestigious annual aviation event held worldwide, was last held in India in 1983, more than forty years ago. India had hosted the conference in 1958 before that."With record-breaking aircraft orders, remarkable growth, and top-notch infrastructure developments, India is well positioned to emerge as the third-largest aviation market globally by the end of this decade." IATA Director General Willie Walsh stated, "With such promising prospects, it's the ideal time for the IATA AGM to return to India and witness these exciting developments first hand."Pieter Elbers, CEO of IndiGo, took over as head of IATA's board of governors during the 80th AGM of the 330-airline strong association in Dubai on Monday. Pieter Elbers succeeded RwandAir CEO Yvonne Manzi Makolo in this role. Elbers's one-year tenure is anticipated to come to an end in Delhi, India, during the 81st IATA AGM in 2019."IndiGo is excited to welcome the world's aviation community to Delhi in 2025 and is honored to be the host airline for the 81st IATA AGM. India is a country on the rise, using AI to spearhead the fourth industrial revolution and rising to become the third largest economy in a few years. The CEO of IndiGo stated, "India's ascent in the world of aviation in recent years has been nothing short of remarkable."IATA's decision to host its next AGM in Delhi was hailed as a "proud moment for Indian aviation" by Civil Aviation Minister Jotiraditya Scindia."The industry has expanded immensely under PM @narendramodi Ji's leadership, with record passenger numbers, world-class infrastructure development, improved regional connectivity, and historic aircraft orders. I'm confident that this will give domestic and foreign stakeholders a forum to learn more about the Indian aviation industry and create new opportunities for cooperation and sustainability," Scindia wrote in a post on the social media site X (previously Twitter).  

Tankers-of-the-shadow-fleet-transporting-tainted-fuel-are-a-blow-to-cleanup-operations

According to shipping data and sources, the expanding shadow fleet of tankers carrying oil from sanctioned sources such as Venezuela, Iran, and Russia is filling up with the cheapest gasoline available, impeding industry efforts to use cleaner fuel to reduce shipping emissions.In order to reach more ambitious environmental goals and cut down on pollutants like carbon and sulphur dioxide emissions, the shipping sector worldwide is coming under increasing pressure to use cleaner fuel. There are hundreds of vessels hauling authorized oil that are posin...According to Lloyd's List Intelligence, the shadow fleet has increased from 530 tankers to around 630 tankers, accounting for 14.5% of the world's total tanker fleet. Over 800 tankers are estimated to be involved, according to some industry estimates.    

Trade Ministry shuffles negotiators in an effort to preserve institutional memory

Experts noted that the nation's trade negotiations may require a separate service and that the country's negotiating strategy cannot depend on transportable generalist public officials.The European Union (EU) and the United Kingdom (UK) are two formidable negotiators, so India's Commerce and Industry Ministry has begun exploring strategies to improve its negotiation position. This exercise will probably center on closing gaps that result from institutional memory loss caused by the frequent transfers of important federal officers who lead protracted trade discussions, among other factors.The Ministry is considering a number of actions, one of which is creating a new set of standard operating procedures (SOP) for expediting trade negotiations. The Ministry formerly had a 60-page SOP that included information on how to handle trade negotiations. At the two-day "Chintan Shivir" event on May 16–17, a number of past and present negotiators as well as trade experts emphasized that India is dealing with a systemic issue in the context of trade negotiations, given the rapidly evolving nature of trade talks that extend beyond traditional topics like tariff concessions to labor and environmental issues.  

Sensex up 240 points, Nifty above 22,650; gains for banks, metal, and pharmaceuticals

IRFC, Rail Vikas Nigam, Cochin Shipyard, Bharat Electronics, and Go Digit are some of the most actively traded stocks on the NSE, according to Sensex Today | Stock Market LIVE Updates.Share Market Today Live Updates: Stay up to date on your favorite firms' stock movements by subscribing to Mint's market blog. You can stay up to date on everything Dalal Street and international markets with this blog. Live updates for today's share market: Watch the market summary for today! Follow the fluctuations of the Sensex and Nifty 50, as well as the top gainers and losers. View the performance of the US and Asian markets as well as the leading (or declining) sectors. Take a look at Mint's market blog to get up-to-date information about your favorite businesses. You can stay up to date on everything Dalal Street and international markets with this blog.  

Nykaa Q4 Results: Net profit soars 187% YoY; GMV growth in the beauty industry reaches its greatest level in six quarters; five salient features

Results for the January-March quarter of fiscal 2023–24 (Q4FY24) were released by Nykaa's parent company, FSN E-Commerce Ventures, on Wednesday, May 22. The results showed a massive four-fold increase in the quarterly net profit attributable to shareholders, with a preference for customer retention over steep discounts. In the fourth quarter of FY24, the net profit increased by 187% to ₹6.9 crore from ₹2.4 crore during the same period the previous year. The company headed by Falguni Nayar had a 28% increase in operating revenue in the March quarter, totaling ₹1,668 crore, as opposed to ₹1,302 crore during the same period the previous year. The inclination of wealthy customers for high-end cosmetics and fragrances from names like Dior, Bobbi Brown, and Estee Lauder drove the sales.