Abhishek Securities

Some of India's biggest startups have ranked near the bottom when it comes to  working conditions  for their gig  workers , according to a report released Wednesday. While  Swiggy ,  Zomato  and Uber India scored 1/10, Urban Company and Flipkart’s logistics arm EKart scored the highest 8/10 and 7/10, respectively, ‘ Fairwork India Ratings  2020: Labour Standards in the Platform Economy’  showed . The report assessed the companies on five principles: fair play, fair conditions, fair contracts, fair management, and fair representation. Deepinder Goyal, chief executive officer of Zomato Media Pvt. Ltd., acknowledged the ratings on Twitter. “Zomato ranked at the bottom of 2020 Fairwork India scores. We knew we had things to work on, but we didn’t know that there is so much room for improvement.” The company takes full responsibility and “will leave no stone unturned to perform better in the rankings next year,” he added. Zomato received a 4/10 in ...

  JioMart , Reliance's online-to-offline commerce  platform that launched in May , has scaled up rapidly, riding on the pandemic-fuelled digital acceleration. The service, which went   live in 200 cities across India, is currently processing an average of  500,000 orders per day. " We can go even higher on peak days",  Jio Platforms CEO   Kiran Thomas  revealed at the Facebook for Fuel India 2020 event. He said, "JioMart is empowering millions of  kiranas  and small merchants through the simple and secure platform of WhatsApp, and linking them to Reliance Retail's pan-India supply chain. We expect to grow manifold in future, and are optimistic about enabling new cohorts of users and making it easier for them to shop for daily essentials."  "Customers are transacting seamlessly on JioMart and the  conversational nature of the service  enabled by WhatsApp has made people adapt to it intuitively," he added. Reliance also stated th...

  Times Internet has posted a 24% jump in its annual revenue in the financial year ending March, recording Rs 1,625 crore in revenue in FY20. In its annual report, the company  said the revenue growth has been adjusted for seasonality of cricket events. In FY19, it had posted revenues of $196 million. The company has registered a surge across its revenue streams i.e. advertising revenue, subscribers, transaction revenue and gross merchandise value (GMV) in the last fiscal year. While advertising revenue grew 22% with faster growth in music and video, overall subscribers to Times Prime grew 62%.  Times Internet’s annualized GMV in transacting businesses grew 68% with a 75% jump in net revenues, said the company in its annual report. Its subscription and transactional businesses include Times Prime, Gaana Plus, TOI+, ET Prime, and Gourmet Passport.  Times Prime also crossed 2 million subscribers last year. “We broadened our media strategy beyond news, and we focused on...

  Times Internet has posted a 24% jump in its annual revenue in the financial year ending March, recording Rs 1,625 crore in revenue in FY20. In its annual report, the company  said the revenue growth has been adjusted for seasonality of cricket events. In FY19, it had posted revenues of $196 million. The company has registered a surge across its revenue streams i.e. advertising revenue, subscribers, transaction revenue and gross merchandise value (GMV) in the last fiscal year. While advertising revenue grew 22% with faster growth in music and video, overall subscribers to Times Prime grew 62%.  Times Internet’s annualized GMV in transacting businesses grew 68% with a 75% jump in net revenues, said the company in its annual report. Its subscription and transactional businesses include Times Prime, Gaana Plus, TOI+, ET Prime, and Gourmet Passport.  Times Prime also crossed 2 million subscribers last year. “We broadened our media strategy beyond news, and we focused on...

  Future Enterprises Ltd   NSE 1.75 %  (FEL) is planning to prepay the  debentures  issued by the company from the money to be received after selling its retail and other businesses to  Reliance Industries   NSE 0.07 % ' step down firm  Reliance Retail Ventures . The company has proposed to utilise the consideration received from the Rs 24,713 crore deal for pre-payment of the Non-Convertible Debentures (NCDs), FEL said in a regulatory filing. FEL is convening a meeting of its debenture-holders of Series XV on January 7 next year to consider and approve prepayment of debentures and amendment of  the Debenture Trust Deed . “As part of the overall reorganisation proposal, the company proposes to utilise the consideration to be received from  Reliance  entities from slump sale of the business undertakings, to prepay the various NCDs the company has issued and one of the NCDs proposed to be prepaid is NCD-XV, viz the debentures he...

  Indian logistics unicorn Delhivery has raised investment from Steadview Capital. The global investment firm has picked up $25 million worth shares in Delhivery through a secondary transaction. With the investment, the co-founder of the logistics unicorn hinted that the startup would head towards an IPO soon. “Steadview is a long-term investor and we see them playing a key role as Delhivery heads towards the public markets in the next 12-15 months,” said Sahil Barua, founder and CEO of Delhivery. Steadview Capital has also invested in other Indian unicorn startups such as Dream11, Nykaa, Ola, Unacademy, Policybazaar, Zomato, Lenskart among others. “We are excited to partner with the excellent management team of Delhivery. The company’s tech-centric approach has been a key enabler in ensuring faster delivery speeds, decreasing logistics costs, and increasing e-commerce adoption in the country over the last decade. We believe Delhivery is well-positioned to become the largest logist...

The Studds Thunder D series is a popular offering from Studds. And the D6 decor is no different. It packs a flurry of impressive bits and features. When it comes to homegrown helmet manufacturers, Studds is a renowned name and has been in the game for quite some time now. It has now unveiled its new Thunder D6 Decor helmet, which according to their press statement is their reaffirmation to their commitment to rider safety and comfort. The Thunder D series is a popular offering from Studds. And the D6 decor is no different. It packs a flurry of impressive bits and features. More details Thunder D6 is available in 8 colour options with a Matte black base – Orange, Yellow, Red and Blue and a black base – Orange, Yellow, Red and Blue to opt from. It is available in 3 different basic sizes – Medium ( 570mm ), Large ( 580mm ) and Extra Large ( 600mm ) to make it suitable to all kinds of riders. Talking about the impressive bits, the Thunder D6 is an aerodynamically designed full-face hel...

  Digital financial services platform Paytm on December 15 launched a 24x7 RTGS facility to support the companies that make high-value transactions. It also enables businesses to make bulk and instant money transfers to their employees, vendors & partners. Customers can instantly make bulk payments to Bank Accounts, UPI addresses, and Paytm Wallets through Paytm Payouts' APIs and Paytm for Business Dashboard. Paytm Payout is the only service provider that offers seamless round the clock money transfers through Wallet, UPI, IMPS, NEFT & RTGS. The company has made this announcement after Reserve Bank of India (RBI) decision to make RTGS facility 24x7. This service saves time and resources and it is beneficial for SME & large enterprises who use it to adopt an automated payment mechanism. "RBI's move supports commerce in the country and enhances ease of doing business recently allowed the transfer of funds through Real-Time Gross Settlement (R...

  After raising a $20 million bridge round from existing investors Sequoia Capital and Sofina, Bira 91 has raised 9.3 crore from a clutch of angels including Pankaj Chaddah, Shikha Sunil Chandak and Nishant Mittal. The money has come at a time when Bira 91 is gearing up to foray into non-alcoholic beverages. Sajeev Singh has invested Rs 2 crore whereas Chandak put in Rs 1.04 crore, regulatory filings show. Suprati Finvest Pvt Ltd, Vineeta Gupta and Naveen Sangari have infused Rs 1 crore each in the craft beer brand. Majithia Family has invested Rs 1.45 crore while Kais Holding invested Rs 71.52 lakh. Zomato’s and Mindhouse’s co-founder Chaddah has put in Rs 75 lakh and Mittal invested Rs 34 lakh. Following the fresh infusion, promoters holdings has been diluted to 19.35% while ear;y backer Sequoia remains the largest stakeholder with 42.19% stake.  Sofina Ventures controls 10.3% in the Delhi-based venture. Sixth Sense India opportunity Fund owns 1.81% whereas the ESOP pool con...