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Delhi Capitals (DC) on Tuesday secured a 19-run victory over Lucknow Super Giants (LSG) in the Indian Premier League (IPL). This win propelled DC to the fifth position on the points table, concluding their season with seven wins, seven losses, and a total of 14 points. Conversely, LSG fell to seventh place, ending their campaign with six wins, seven losses, and 12 points. Both teams still have slim playoff hopes, which hinge on the outcomes of remaining matches involving other franchises. In this crucial match, DC amassed 208 for four, thanks to opener Abhishek Porel's 33-ball 58 and a late surge from Tristan Stubbs, who remained unbeaten on 57 off just 25 deliveries. In reply, LSG managed 189 for nine despite fighting half-centuries from Nicholas Pooran (61 off 27) and Arshad Khan (58 not out off 33). KKR and Rajasthan Royals have already qualified for the playoffs.According to IPL 2024's official broadcasters Star Sports here are chances of teams qualifying for the playoffs: SunRisers Hyderabad (87.3%), Chennai Super Kings 72.7%,, Royal Challengers Bengaluru (39.3%), DC (0.7%) and LSG (0.2%). — StarSportsIndia (@StarSportsIndia) IPL 2024 Playoff ChancesChennai Super Kings (CSK): CSK is currently positioned third on the points table, with 14 points from 13 matches and a net run rate of 0.528. Their playoff prospects are straightforward: a win against Royal Challengers Bangalore (RCB) on Saturday will secure their spot in the playoffs. If CSK loses but by a margin smaller than 18 runs (assuming they are chasing 200), their net run rate will still surpass RCB’s. A heavier defeat, however, would necessitate that Sunrisers Hyderabad (SRH) lose both their remaining matches, allowing CSK to qualify alongside RCB based on net run rate.Royal Challengers Bangalore (RCB): Currently sixth on the points table, RCB has 12 points from 13 matches and a net run rate of 0.387. RCB's playoff chances are contingent on SRH not earning more than one point from their remaining games. RCB needs to surpass CSK in the standings, which requires a victory over them by at least 18 runs if they score 200. If they chase 200, they must achieve the target in about 18.1 overs. If RCB wins by a smaller margin, they can only qualify if SRH loses both their matches, leaving them tied on points but ahead on net run rate. A loss or a washout against CSK will eliminate RCB from playoff contention.Delhi Capitals (DC): DC concluded their season with 14 points, but their net run rate of -0.377 severely hampers their playoff hopes. For DC to sneak into the top four, they need CSK to defeat RCB, leaving RCB at 12 points, and SRH to lose their last two matches by substantial margins to drop their net run rate below DC’s. Given the current net run rate disparities, DC’s chances of making the playoffs are almost nonexistent.Lucknow Super Giants (LSG): LSG, now sitting at 12 points, can still reach 14 points. However, even a significant victory in their final match against Mumbai Indians (MI) would only marginally improve their net run rate. Thus, like DC, LSG’s hopes are nearly extinguished, relying on a series of highly improbable results to advance.Sunrisers Hyderabad: Gujarat Titans and and Punjab Kings. SRH need just one more point to secure a playoff spot. If they lose both remaining matches, their qualification will depend on CSK defeating RCB, provided SRH maintains a better net run rate than DC. Should SRH lose both games and RCB triumph over CSK, SRH's qualification would then hinge on CSK's net run rate falling below theirs.

Mumbai: Sixteen domestic mutual funds, which held shares of ICICI Securities, voted in favour of parent ICICI Bank's proposal to delist the broking arm, according to data compiled by primeinfobase.com. Seven fund houses opposed the plan in the voting process held on March 27, the data showed.The terms of the proposal were controversial with a section of the shareholders opposing it. However, a majority of ICICI Securities' public shareholders favoured the delisting in the voting process.Mutual funds, including Kotak, Mahindra Manulife, Samco, Quantum, ITI, LIC and Baroda BNP, voted against the resolution. Asset management companies which voted in favour, were UTI, Axis, Aditya Birla, HDFC, ICICI Prudential, Nippon, Mirae Asset, DSP, SBI, Sundaram, Bandhan, and NJ, among others.110131385The reason cited by Kotak Mutual Fund for being against the proposal was that parent ICICI Bank did not give ICICI Securities' minority shareholders an "opportunity to participate in the price discovery process nor to continue their investment in the business". The fund house also said the proposed merger ratio is unfavourable to the company's shareholders.As part of the scheme of arrangement, ICICI Securities' shareholders will receive 67 shares of ICICI Bank for every 100 shares held.LIC Mutual also said the swap ratio is unfavourable to minority shareholders, as both the business environment and the company's performance have improved since the valuations conducted in June 2023.Taking into account the business model of ICICI Securities, which is characterised by higher fee revenues and lower capital requirements, along with the potential for growth in retail brokerage and wealth management business in India, the merger ratio could have been more favourable to ICICI Securities shareholders, said Mahindra Manulife, which voted against the proposal.Investors holding 71.89% of the brokerage shares favoured the proposal, while those owning 28.11% voted against it. As per the scheme of arrangements, ICICI Securities' shareholders will receive 67 shares of ICICI Bank for every 100 shares held.Following the shareholders' voting, a group of retail investors of ICICI Securities, led by Manu Rishi Gupta, a Bengaluru-based investment advisor, filed a class-action lawsuit in the NCLT last month. The lawsuit has been accepted and is scheduled for a hearing on July 3.ICICI Prudential Mutual Fund, part of the ICICI Group, supported the delisting proposal. "The arrangement will strengthen the competitive positioning of the business. The business is inherently cyclical, and the valuations for the transaction are justified," the fund house said. It added 1.33 million shares of ICICI Securities in March. According to sources, ICICI Prudential held over 20,000 shares across passive schemes as of February-end and the fresh purchases of ICICI Securities shares were made after the voting process on March 27.HDFC MF, while voting in favour of the scheme of arrangement, said the proposed merger would simplify the corporate structure and may result in synergy benefits.While UTI MF voted in favour of the scheme, the fund house also raised the same concerns as Kotak MF.

The US Justice Department on Tuesday said Boeing can be prosecuted for two subsequent 737 Max crashes that killed 346 people approximately five years ago.Boeing breached obligations under an agreement that had shielded it against legal proceedings for the accidents, department officials said in a letter to a federal court in Texas.Boeing told AFP "we believe that we have honored the terms of that agreement" and said that it plans to defend itself.US officials said in their letter that Boeing breached its obligations under a deferred prosecution agreement (DFA) by "failing to design, implement, and enforce a compliance and ethics program to prevent and detect violations of the US fraud laws throughout its operations."Such a breach would mean Boeing can be prosecuted for any violation of federal law related to the crashes, according to US justice officials.The government is evaluating how to proceed in the matter and has directed Boeing to respond by June 13.US officials also plan to confer with families of people who died in the Lion Air Flight 610 and Ethiopian Airlines Flight 302 crashes."We will engage with the Department with the utmost transparency, as we have throughout the entire term of the agreement," Boeing said in a statement to AFP.It said this also included "response to their questions following the Alaska Airlines 1282 accident." The dramatic mid-flight blowout on January 5 of a fuselage panel on an Alaska Airlines plane precipitated the departures of a series of top Boeing officials -- including CEO Dave Calhoun, who is set to step down at year's end.It also resulted in reduced production of the 737 MAX. Multiple inquiries, audits The US Federal Aviation Administration was sharply criticized after the crashes of two Boeing 737 MAX planes in 2018 and 2019. But as Boeing faces multiple inquiries and audits in the United States and abroad, it has repeatedly assured critics that it is working "with full transparency and under the oversight" of FAA regulators.The DPA required Boeing to pay $2.5 billion in fines and restitution in exchange for immunity from criminal prosecution for charges it defrauded the government during the certification of the MAX.A federal judge in Texas early last year rejected a challenge by relatives of Boeing 737 MAX crash victims to the aviation giant's US criminal settlement, ruling against ordering changes to the controversial January 2021 DPA.The families have argued that Boeing's role in what they have called the "deadliest corporate crime" in US history merit criminal conviction of the company and top brass.

Mumbai: Finance minister Nirmala Sitharaman on Tuesday said unchecked trading by individuals in the futures & options (F&O) segment could trigger challenges for the market. "Any unchecked explosion in retail trading of futures and options can create future challenges, not just for the markets, but for investor sentiment and household finances," Sitharaman said at an event organised by BSE. She appealed to stock exchanges to work closely with market regulator Sebi to ensure stringent compliance and robust regulatory standards so that investor confidence grows further. "Household finances have made a generational shift... We want to ensure that's not going to be shattered," Sitharaman said addressing the 'Viksit Bharat 2047' event here. Both the BSE and NSE should ensure market stability and mitigate systemic risks, she added. "Stock exchanges should leverage technology and adopt blockchain and AI and have big data to improve market efficiency, transparency and security." Sitharaman said financial sector regulators need to adopt a soft-touch approach through public consultations while framing rules so that functioning becomes easy. "But even after they frame rules, they should be ready for further tweaking based on the inputs which come from people who are on the ground," she said."Regulators will have to be proactively engage with stakeholders so that even after due consultation regulations can further be tweaked for better compliance, soft-touch regulation and not be firm about things."Sitharaman also said that persistent flow of domestic savings in stock market has become the counterbalancing force when foreign portfolio investors come and go. "There may not be actually any fluctuations despite the whimsical FPI movements. India's own savings, which are coming from small retail investors, are providing the shock absorber for you," she said .

On a recent Tuesday morning, a visibly frustrated Donald Trump sat through a tense hearing in the first-ever criminal trial of a former American president. During a break, he let rip on his social media platform. New York Justice Juan Merchan, Trump declared on Truth Social, is a "highly conflicted" overseer of a "kangaroo court." Trump supporters swiftly replied to his post with a blitz of attacks on Merchan. The comments soon turned ugly. Some called for Merchan and other judges hearing cases against Trump to be killed. "Treason is a hangable offense," one wrote. "They should all be executed," added another. The April 23 post by Trump and the menacing responses from his followers illustrate the incendiary impact of his angry and incessant broadsides against the judges handling the criminal and civil suits against him. As his presidential campaign intensifies, Trump has baselessly cast the judges and prosecutors in his trials as corrupt puppets of the Biden administration, bent on torpedoing his White House bid. The rhetoric is inspiring widespread calls for violence. In a review of commenters' posts on three pro-Trump websites, including the former president's own Truth Social platform, Reuters documented more than 150 posts since March 1 that called for physical violence against the judges handling three of his highest-profile cases - two state judges in Manhattan and one in Georgia overseeing a criminal case in which Trump is accused of illegally seeking to overturn the state's 2020 election results. Those posts were part of a larger pool of hundreds identified by Reuters that used hostile, menacing and, in some cases, racist or sexualized language to attack the judges, but stopped short of explicitly calling for violence against them. Experts on extremism say the constant repetition of threatening or menacing language can normalize the idea of violence - and increase the risk of someone carrying it out. Mitch Silber, a former New York City Police Department director of intelligence analysis, compared the Trump supporters now calling for violence against judges to the U.S. Capitol rioters who believed they were following Trump's "marching orders" on Jan. 6, 2021. "This is just the 2023-2024 iteration of that phenomenon," Silber said. "Articulating these ideas is the first step along the pathway of mobilizing to violence." Trump spokesperson Steven Cheung did not respond to specific questions about the posts. Trump, the presumptive Republican presidential nominee, has a right to criticize what he called "un-Constitutional witch hunts," Cheung said. He also asserted, without citing examples, that Trump has been the target of calls for "despicable violence" from "Democrats and crazed lunatics." On Patriots.Win, an online forum that describes itself as Trump's "community of choice," Trump's attacks on courts and judges regularly spur calls for violence. Merchan "needs to be strangled with piano wire," one poster wrote. He "deserves garroting in the street," wrote another. The Gateway Pundit, a website influential in the pro-Trump community, is also a frequent venue for Trump-inspired violent rhetoric against judges hearing his cases. "These judges and lawyers should HANG for perpetuating these fraud cases," a commenter wrote on April 16, suggesting the executions would be "an example for future generations of judges and lawyers." The Federal Bureau of Investigation and the New York Police Department declined to comment on whether any threatening posts directed at the New York judges were under federal or local investigation. While Trump himself hasn't called for violence on judges, his language can signal to followers that judges are no different from partisan rivals worthy of scorn, derision and attack, threatening the legitimacy of the independent judiciary, said experts on political violence. "Trump is constantly riling up his supporters to be angry on his behalf," said Lilliana Mason, a John Hopkins University political scientist. "He takes that large group of angry people, he points them in a particular direction, and then the judges get all these death threats." Cheung had no response to that analysis. The posts also illustrate a shift in the way violent language is being expressed online by Trump's followers. In 2021, Reuters documented a wave of threats by Trump supporters targeting U.S. election workers. Legal experts found that many had met the legal standard for prosecutable threats, which typically requires language or context that reflects a clear intent to act or instill fear, rather than simply suggesting a frightening outcome. In contrast, the current barrage of pro-Trump threats generally stop short of that red line. Posters often call for violence - without explicitly stating they intend to commit it themselves. Such language is usually defensible as constitutionally protected free speech. But experts say it can have the same effect as a direct threat: to intimidate and sow fear. On Feb. 29, Reuters published an investigation into death threats targeting mostly federal judges involved in Trump-related cases, including threats those judges received personally. For this story, Reuters examined three prominent pro-Trump websites to assess the prevalence of violent online posts directed at the state judges handling some of the highest-profile cases against Trump. The judges in both of Trump's New York cases issued gag orders barring him from attacking judicial staff and, in Merchan's court, witnesses, jurors and family members of the judge and prosecutors. On April 30, Merchan held Trump in criminal contempt for violating one of those gag orders, fined him $9,000 and warned him that he could be jailed for further infractions. On May 6, Merchan fined Trump an additional $1,000 for a subsequent violation. His April order noted the "singular power" that Trump's derisive statements and social media posts have to inspire his followers, instill fear in his targets and endanger the rule of law. The judge has warned that he could impose jail time for any additional violations by the former president, who calls the gag orders "election interference." "CROOKED" AND "CONFLICTED" Reuters examined more than 1,800 posts by Trump on Truth Social from March 1 to April 30. In at least 129 of them, he attacked judges handling his cases in New York, Georgia and other jurisdictions, either in his own words or by re-posting critical comments or videos from supporters or others. Much of his anger is focused on Merchan, who is presiding over Trump's criminal prosecution on charges that he violated New York law by falsifying business records to conceal a sex scandal during his 2016 campaign. Trump also frequently attacks New York Justice Arthur Engoron, who ruled in February during a separate civil trial that Trump committed fraud by inflating his properties' values on financial documents. Trump has appealed the verdict. Trump often labels both judges "corrupt" and "conflicted," and falsely accuses them of taking orders from President Joe Biden, his Democratic rival for the White House. As state judges, they weren't appointed by the president, who has no authority over them. Trump's comments and re-posts on Truth Social often trigger a furious response from his supporters. At least 152 posts on the three pro-Trump websites in March and April urged the beating or killing of Merchan or Engoron in New York or Judge Scott McAfee in Georgia, Reuters found. At least 65 of those were on Truth Social, about half in replies to the former president's posts. The rest were split about evenly between Gateway Pundit and Patriots.Win. All three sites have comment policies discouraging threatening or violent rhetoric. Truth Social's terms of service forbids users from writing posts that are "filthy, violent, harassing, libelous, slanderous" or "advocate, incite, encourage, or threaten physical harm against another." A Truth Social spokesperson said the company "works expeditiously to remove posts that violate" those standards. The Gateway Pundit and Patriots.Win did not respond to requests for comment. There was evidence on each site that at least some comments had been removed. However, most of the posts advocating violence stayed up on the sites for days or weeks. Three experts in violent political speech reviewed the posts documented by Reuters, including Jonathan Leader Maynard, a London-based political extremism expert who said many of them echo the "quasi-fascist language" language used by "lone wolf terrorists" to justify their bloodshed. Politically motivated harassment of judges is not exclusive to the political right. Left-wing activists have protested at the homes of judges who have restricted abortion rights. A California man was accused of traveling to Supreme Court Justice Brett Kavanaugh's home intending to kill him. Nicholas John Roske has pleaded not guilty to a charge of attempted assassination. Plea negotiations are ongoing, court records show. Roske's lawyer didn't reply to a request for comment. A Reuters examination of websites catering to the left revealed dozens of hostile comments attacking the competence and credibility of conservative jurists. The targets include U.S. District Judge Aileen Cannon, a Trump appointee who has issued a number of rulings favorable to the former president in his ongoing federal prosecution in Florida for misappropriating classified documents after leaving office. On Democratic Underground, a liberal site, posters have attacked Cannon as "corrupt" and suggested she be tried for espionage. But a review of comments on those sites did not reveal the sort of violent language that Trump supporters use in their online posts, including suggestions that judges be beaten or killed. Calls to execute judges picked up in April on pro-Trump sites, when Merchan began hearing Trump's prosecution for allegedly trying to hide a hush money payment to porn star Stormy Daniels before the 2016 election, the first of four criminal prosecutions Trump faces. "He should be recused from living," one Trump supporter wrote of Merchan in an April 14 post on Truth Social. That comment and other calls for violence cited in this story were posted anonymously. Merchan, 61, has served on the criminal bench since 2009. He grew up in the New York City borough of Queens, also Trump's boyhood home, and began his career as an assistant district attorney in Manhattan, the office now prosecuting Trump. In 2022, Merchan presided over a tax fraud conviction for Trump's business, ordering his company to pay a $1.6 million fine. Last year he sentenced Trump's longtime chief financial officer, Allen Weisselberg, to five months in prison after Weisselberg's conviction on tax fraud. Trump also has directed vitriol at Merchan's daughter, Loren Merchan, an executive at Authentic, a digital marketing agency that works with Democratic candidates. Trump has said the judge is "conflicted" because of his daughter's work and should recuse himself. Pictures of Merchan's daughter have featured regularly in broadsides by Trump supporters on Truth Social. Some mocked her physical appearance and called for her arrest. On one website, an avowed white supremacist published personal information about both Merchan and his daughter, including home addresses and the judge's phone number. Last June, the New York Advisory Committee on Judicial Ethics ruled that Merchan's "impartiality cannot reasonably be questioned" based on his daughter's work for Democratic campaigns. A spokesperson for the New York courts, Al Baker, said both Merchan and Engoron have "been subjected to threats as have many other judges" and their safety is "the utmost priority." He declined to elaborate on security arrangements. Loren Merchan did not respond to a request for comment. "TREASONOUS PIECE OF TRASH" Engoron, 74, has been bombarded with invective from Trump and threats from his supporters. A New York court security officer reported in a sworn statement last year that Engoron and his staff had received hundreds of threatening and harassing messages, including some laced with profanity and anti-Semitic insults against the judge, who is Jewish. The hostile communications spiked after Trump attacked the credibility of Engoron and his clerk on Truth Social, the statement said. "Resign now, you dirty, treasonous piece of trash snake," said one voicemail left at his chambers and included among a half-dozen quoted in the security officer's statement. "We are coming to remove you permanently." A Democrat, Engoron was elected in 2015 to the state Supreme Court and has been a judge for two decades. He has drawn the former president's rage after repeatedly ruling against him in a civil business fraud suit filed by New York Attorney General Letitia James. Engoron ultimately ordered Trump to pay a $454 million fine in that case. The judge issued a gag order last October after Trump shared on social media a photo of Engoron's law clerk posing with U.S. Senate Majority Leader Chuck Schumer, a Democrat, and falsely described her as "Schumer's girlfriend." Engoron barred Trump from making any statements disparaging court staff. The judge fined Trump twice for violating the order. "The threat of, and actual, violence resulting from heated political rhetoric is well-documented," Engoron wrote in a November court filing. Engoron received a fake bomb threat at his home in January, and an unknown threatener sent an envelope containing white powder to his chambers the following month, said court and law enforcement officials. In a March 22 post on Truth Social, Trump labeled him a "Corrupt, Radical Left Judge in New York, a Trump hater the highest level." Calls by his supporters for the judge's death came quick. One poster on Truth Social said Engoron should be hanged. Another wanted him executed. Online rage thundered for days, accompanied by appeals for violence. "He should be skinned alive, bobbed in a vat of alcohol, then dipped in honey before being staked to an anthill," read a March 25 post about Engoron on Patriots.Win. "ROGUE JUDGES" The threats aren't limited to New York. As state courts in Colorado, Illinois and Georgia have taken up Trump-related cases, at least four judges in those states have faced threats or harassment, according to interviews with court and law enforcement and officials and a review of social media posts. State courts typically provide judges with far less protection than their counterparts receive on the federal bench, where some Trump-related cases have also landed. Georgia Judge McAfee, presiding in an election interference case against Trump, is among the targets. Fulton County prosecutors charged Trump with illegally pressuring officials to overturn the state's 2020 presidential election. McAfee has received less attention from Trump than the New York judges. Trump has repeatedly denounced Fulton County District Attorney Fani Willis, who brought the case, but has refrained from criticizing McAfee by name. But after the judge denied his motion to dismiss Willis over her romantic relationship with a fellow prosecutor, Trump posted two Fox News videos from one of his spokespeople and a legal analyst assailing the decision. Trump backers quickly turned on McAfee. "Judge McAfee should be hanged," one commented in response to a Gateway Pundit post about the ruling. After a subsequent decision again denying Trump's request for a dismissal, more violent comments followed. "These people need gutting like we do fish," one unidentified commenter wrote beneath another Gateway Pundit post about McAfee's decision. McAfee and Willis did not respond to requests for comment. Even when Trump himself does not single out judges for criticism, supporters often threaten and harass judges who rule against the former president's interests. In late February, an Illinois circuit court judge in Chicago, Tracie Porter, ruled that Trump should be unable to stand on the state's primary ballot because of his role in the 2021 Capitol attack. Furious at the decision, Trump supporters targeted Porter with violent online messages and menacing calls to her office, said Illinois Supreme Court Marshal Jim Cimarossa. As head of the state marshal program, Cimarossa oversees security for Illinois' highest-ranking judges and maintains a statewide database on threats against the local judiciary and courts. The threats against Porter haven't been previously reported. In the days after Porter's ruling, the Illinois Marshals program saw a rise in threats against other state judges, Cimarossa said, describing it as a "copycat bump." Threats against the judiciary often climb when another judge is attacked in a high-profile case, he said. Porter's ruling was later nullified by the U.S. Supreme Court. Trump didn't mention Porter by name. But in a March 4 speech he criticized states that "didn't want" him and "rogue judges." A Cook County Circuit Court spokesperson said Porter could not comment due to aspects of the case that continue to be litigated. He said the judiciary and law enforcement "give high priority to protecting judges." "We have a lot, a lot of threats," Cimarossa said, citing a nearly 18% increase in threats to his state's courts so far in 2024. "It's escalating." At least 25 states have state-run court security programs that provide services such as threat assessment and physical protection for high-ranking judges. But most state and local judges across the country rely on sheriffs or police to respond to requests for protection, Cimarossa said. In a survey of nearly 400 mostly state judges by the National Judicial College, an education group, nearly eight out of 10 agreed that it is becoming more dangerous to be a judge. The survey, completed in 2022 and made available to Reuters in advance of publication later this year, also found that more than 70% of respondents had received harassing or menacing communications. New Mexico Judge Francis Mathew told Reuters he received dozens of threatening messages after ruling that Couy Griffin, an Otero County commissioner who founded Cowboys for Trump, a political advocacy group, was ineligible to hold public office because he participated in the 2021 Capitol riot. On the day of his ruling in September 2022, Mathew received one email calling for his execution and another that included his home address, according to communications shared with Reuters. Griffin said in an interview that he and his family also have received threats and that he never called for violence against Mathew. "As far as threats and stuff goes, that's something that's out of my control," he said. Although Trump has not criticized him on social media, Mathew blames Trump for "orchestrating" the deluge of threats targeting judges. "Trump's behavior is teaching people that they can do these things," Mathew said in an interview. Cheung, Trump's spokesperson, did not respond to that claim. "A FACE ONLY A FIST COULD LOVE" Much of the violent rhetoric documented by Reuters illustrates a phenomenon identified by social scientists: Online communities catering to specific political views can create an echo chamber, where participants spur each other to increasingly extreme posts. In pro-Trump forums, when someone "pushes the norm of what is considered acceptable speech" by posting a call to execute judges or other public officials, "and no one questions it, then the norm of what is acceptable may shift," said Cathy Buerger, who studies inflammatory rhetoric at the nonpartisan Dangerous Speech Project in Washington. Buerger reviewed the violent posts identified by Reuters. That pattern emerged in a series of Gateway Pundit comments posted April 2. In response to an article criticizing "far-left judge Juan Merchan," one reader referred to a photo of the jurist by saying, "A face only a fist could love." "Or a steel toed boot," another reader replied. "Or an aluminum bat," a third wrote. Another poster upped the ante: "Colt Combat Commander 45" - a popular semi-automatic handgun.

Kolkata: Big consumer goods companies such as Hindustan Unilever (HUL), Dabur, Adani Wilmar and Parle Products have said the contribution of quick commerce to overall ecommerce sales rose as high as 35% in FY24, almost doubling in a year.Quick commerce drove overall ecommerce for these companies as well as the broader fast moving consumer goods (FMCG) industry, executives said. 110126769The contribution of quick commerce was 15-18% in FY23.FMCG companies have consistently reported the fastest growth in sales from ecommerce since the pandemic, followed by modern trade or grocery retail chains, and then general stores or kiranas. This trend has gathered momentum in FY24.FMCG companies have consistently reported the fastest growth in sales from ecommerce since the pandemic, followed by modern trade or grocery retail chains, and then general stores or kiranas. This trend has gathered momentum in FY24.The shift has led Walmart-backed Flipkart to plan a quick commerce entry.Parle Products vice-president Mayank Shah told ET that the speed of the change has been surprising, with consumers not balking at the extra convenience fee. Quick commerce companies such as Zepto, Swiggy, Blinkit and BB Now are enthused enough to move into newer markets.FAST FORWARD“Even the burning of money through discounts has come down a bit. Time has become a premium for people,” he said.Social commentator and brand specialist Santosh Desai said quick commerce has reached a stage of normalisation, with people not wanting to plan their purchases in advance. “For more and more consumers, the convenience cost charged by quick commerce is much lower than planning a shopping trip or ordering in advance,” he said. “It’s a new value equation in their life.”Zomato is rapidly expanding its Blinkit quick commerce business, aiming for 1,000 dark stores (warehouses from where goods are shipped to consumers) by March 2025, from 526 as of the March quarter, it said on Monday in its earnings release. While Blinkit is present in 26 cities, the expansion focus is on the top eight cities such as Bengaluru, Mumbai and Hyderabad, it said.Dabur India chief executive Mohit Malhotra told analysts earlier this month that quick commerce is contributing around 30% to the ecommerce business. “And we want to get in with Swiggy, Zomato (Blinkit), Zepto — all those coming and opening up the towns, one after the other, in urban India. That presents a big opportunity,” he said.RISING POPULARITYSales growth through ecommerce for FMCG companies has been two to three times more than that of modern trade.For instance, Tata Consumer Products’ ecommerce sales grew 35%, compared with 9% for modern trade. The contribution of modern trade to overall sales was stagnant at 14% for the company, but that of ecommerce went up from 9% in FY23 to 11% in FY24.Adani Wilmar managing director Angshu Mallick said quick commerce is driving growth of the overall ecommerce pie for FMCG. “In fact, there are consumers who are now ordering every half an hour. Our fastest-moving items in quick commerce are packs of mustard oil, sunflower oil and atta,” he said. Nestlé said in its latest investor presentation that ecommerce contribution to domestic sales has grown five times in the last five years — from 1.3% in 2018 to 6.8% till March 2024 — driven by “significant growth in quick commerce.”Apart from quick commerce, even beauty commerce and marketplace are growing for HUL in the overall ecommerce pie, Jawa said.

The Arabian Sea shimmered in the late afternoon sun 21 floors below as the highpowered jury gathered to deliberate on the young business leaders vying for a highly coveted spot on The Economic Times 40 Under Forty scroll. Thirteen elite jurors — women and men who have weathered many economic cycles and built enduring businesses — gathered in the Jaipur Suite at The Oberoi in Mumbai last week, tasked with recognising the most brilliant young leaders of corporate India. The 10th edition of 40 Under Forty was adjudicated by a power-packed panel led by Reliance Foundation’s Nita Ambani.“This is a wonderful exercise to reflect on our new generation of business leaders,” said Ambani, who joined the august gathering virtually from London. “Such initiatives help nurture young talent and give them resources and a platform to shine… Thanks to ET for bringing all of us together today.”110126678The jury seemed overwhelmed initially by the number of nominees they had to pick from. However, as they got into the groove of shortlisting, they moved efficiently through the numbers with Kotak Mahindra Bank founder Uday Kotak, former banker Kalpana Morparia and Hindustan Unilever’s Rohit Jawa cheerleading the jury.Once they narrowed down the selection, the jury settled in for an insightful debate with plenty of time in hand.At one point, when the panel was beginning to drag its feet, Nita Ambani gave them a gentle nudge, citing the IPL’s “accelerated auction” concept. It’s cricket season, after all! To the delight of the jury, the selection pool was brimming with talented young women, a testament to the remarkable strides Indian business has made when it comes to gender empowerment.“I am super excited looking at the long list,” said Morparia, who was seeking young achievers who not only demonstrated professional and business acumen but also believed in giving back to society. “I am just blown away by this profile of people under 40… It shows the rich talent landscape of India,” said Morparia, resplendent in an exquisite purple blue cotton saree embellished with fine Kashmiri embroidery.The jury members actively engaged in lively discussions, drawing on their own experience or insights of fellow panel members to evaluate the candidates. They diligently inquired about their work ethic, leadership skills and innovative approaches, before approving candidates for the accolade.Every now and then, the two private equity leaders on the table — Shweta Jalan of Advent International and Manish Kejriwal of Kedaara Capital — would engage in playful banter, making the arduous task of picking India Inc’s brightest sparks a wee bit lighter.“The global firms are bullying the local ones,” Kejriwal said in mock lament, much to the amusement of RPG Group’s Anant Goenka and JM Financial’s Vishal Kampani.A testament to the remarkable talent and ambition of India’s rising stars, the selection pool also had several candidates significantly younger than the 40-year cutoff. Renowned lawyer and former solicitor general of India Harish Salve, who along with his Supreme Court peer Abhishek Manu Singhvi joined the jury meet virtually, said “40 is the new 25”, to which the forever witty Kotak retorted: “This is how the 60-pluses speak… Actually, 60 is the new 40.”Adman Prasoon Joshi, who brought a refreshing perspective to the deliberations, chipped in, saying, “As Uday keeps moving up, that bar will keep going up.” The founders of a few social impact ventures also made it into the candidates’ pool, prompting the jury to first define the criteria for adjudicating them. “Social impact outweighs everything,” said Singhvi, while Kotak held the view that “only ventures with a certain scale should be considered”. Prasoon Joshi emphasised the need for defining social impact as “quite often, such businesses strike an emotional chord, and jury members may feel obliged to vote for it”. An alternative viewpoint on the jury table was to pick “businesses that exhibited both impact and profitability”.As the jury members dissected the candidate profiles, Google India boss Sanjay Gupta pointed out the value that human minds can bring to a jury table. “It’s not an AI-powered selection process; every candidate is picked after lengthy debate,” he said. Three hours — and several rounds of tea, black coffee and lemonade — later, the jury arrived at its pick of 40 young achievers.Throughout the selection process, the jury members found themselves thoroughly engaged and impressed by the quality of the candidates. Bajaj Auto’s Niraj Bajaj rounded things off nicely, saying, “This was a lot more fun than I expected.” His fellow panelists concurred. Before calling it a day, Kotak pushed for a last-level check of the final list. “We have to be careful about counting,” he said. “It’s election season after all.”

New Delhi: The country's largest two-wheeler maker Hero MotoCorp’s market cap reached Rs 1 lakh crore for the first time on Tuesday as its stock crossed the Rs 5,000 mark.Hero’s stock has surged 85.42% in the last 12 months and 21.8% so far this year.Investors have been upbeat on the stock on the back of the company’s focus on premium and electric vehicle segments.Hero MotoCorp has three key premium motorcycles – the Karizma XMR, Mavrick 440, and Harley-Davidson X440. These performance bikes have received positive feedback from the market and the company has raised production for these three products to 10,000 units per month.Hero also plans to strengthen its scooter segment this year with the launch of Xoom 125 and Xoom 160.Hero MotoCorp CEO Niranjan Gupta recently said the company is looking at a holistic approach in the premium segment with a focus on products, new-age retail formats under Hero Premia and Hero 2.0 stores, and improving customer experience.In the EV segment, under the Vida brand, the company is planning to launch scooters in the affordable and mid-price segments this year. Vida operates in over 100 cities across the country with sales and charging infra.Hero MotoCorp recently said it will set up a subsidiary in Brazil soon and also launch operations in the Philippines. It had earlier said it will begin operations in Europe this year.The company last week reported its highest-yet revenue and PAT in a financial year for FY24.Hero MotoCorp’s market cap stood at Rs 100,803.27 crore at the close on the BSE on Tuesday, just behind TVS Motor Company, which had a market cap of Rs 101,390.72 crore.Maruti Suzuki led the pack of automobile companies listed on the bourses with a market cap of Rs 4.03 lakh crore, followed by Tata Motors at Rs 3.21 lakh crore, Mahindra & Mahindra (M&M) at Rs 2.82 lakh crore, Bajaj Auto at Rs 2.53 lakh crore, and Eicher Motors at Rs 1.29 lakh crore.Gupta is optimistic that favourable macroeconomic conditions, normal monsoons and increase in government spending post elections will aid growth in the two-wheeler industry in the coming months.“Moving forward, we expect the macroeconomic factors to aid the industry’s growth. With commodity prices remaining stable, expectations of normal monsoons, and government spending expected to increase, we see multiple tailwinds for the sector over the upcoming quarters,” he said post the results announcement.