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Domestic markets experienced volatility on Wednesday and closed nearly unchanged amidst mixed signals. In today's trade, shares of Vedanta, PNB Housing, Best Agrolife, Mas Financial, Brigade Enterprises among others will be in focus due to various news developments.VedantaVedanta Ltd is planning to spend $5 billion over the next decade as it looks to cut its carbon emissions by a fourth by 2030.Best AgrolifeSpecialty agrochemical maker Best Agrolife Ltd said it has received regulatory approval for a new patented insecticide formulation called Nemagen to target resistant pests causing major crop damage.Mas FinancialMas Financial has launched a qualified institutional placement worth Rs 400 crore with an upside option of further Rs 100 crore.Brigade EnterprisesBrigade Enterprises has signed an agreement worth Rs 150 crore to develop third tower of World Trade Center (WTC) at Infopark, Kochi.PNB Housing FinanceAsia Opportunities Fund, General Atlantic is likely to sell 4.2% stake in PNB Housing Finance through block deals on Thursday, according to reports.WanburyUSFDA has issued Form 483 with zero observations for the company’s Patalganga site.Indian OilIndian Oil has entered into a joint venture agreement with GPS Renewables for sustainable energy solutions.

The ubiquitous kirana store has a new rival - dozens of tech-enabled companies that run thousands of neighbourhood stores and have either entered the grocery market or raised funding after the Covid-19 pandemic.For fast-moving consumer goods (FMCG) companies, these self-service outlets, including Gujarat-based Frendy, Telangana's SuperK, Apna Mart from Bihar and Rajasthan's Kirana King, now account for 4% of their total sales, compared to less than 1% before the pandemic. In premium categories, their contribution is much higher at 8-10%.Unlike traditional kirana stores, where operations such as billing and sourcing are manual, the new-age retail chains have digital apps for orders and delivery as well as the advantage of centralised sourcing."These are like modern trade stores but much smaller in size. There is a rise in such stores and put together, there should be around 10,000 outlets across India, giving a tough fight to larger modern trade outlets like Reliance as they understand the local nuances better," said Krishnarao Buddha, senior category head for marketing at Parle Products, India's biggest foods company.While smaller supermarket chains such as Ratnadeep, Vijetha, Patel's R Mart, Ondoor, Arambagh, Shubham K Mart and Magson have existed for more than a decade, the number of such franchise-led grocery chains has surged, mostly in smaller towns. Take, for instance, four-year old Frendy, which has 25 outlets as marts and warehouse to 2,000 micro-kiranas. It has about 100 people working in its in-house technology team. Similar is the case with Kirana King and SuperK, which runs 100 outlets each, and Apna Mart, which has 50 outlets."Our hub and spoke supply chain model is built on an in-house suite of digital apps which includes a point of sale software digitally connected to the central warehouse for automatic replenishment of stock so that shelves are always full. On the front end the micro kirana app and the customer app allow digital ordering and delivery all trackable on the app and includes payments, returns and refunds," said Frendy's co-founder Sameer Gandotra.111121192Globally, corner shops including 7-Eleven in Japan, Taiwan, Thailand and Singapore, Lawson in Japan and Oxxo in Mexico are among the largest retailers in their respective markets, reflecting the growing business of small outlets in several countries despite the presence of international supermarket and hypermarket chains. With many smaller format stores such as EasyDay, More and Spencers either getting shut or rationalised, the new-age retail chains have leased their properties to retain the catchment's existing customers.These startups have attracted investors, too. For instance, Frendy has raised $5 million while SuperK has raised $6.5 million so far. Apna Mart and Kirana King too have raised funding, $13 million and $1 million respectively. Osia Hypermarket Magsen and Ondoor raised funds through small and medium enterprises initial public offerings.Companies also said they use these stores for launching new products since they are highly tech-driven and can share insights and data easily."It is a growing channel for us as it gives a new experience to consumers, where they can go and pick up products themselves. And that's great for new product launches, because it's easier for the consumer to know about a new launch. For newer products, these outlets account for about 8-10% of the sales," said Wipro Consumer Care and Lighting CEO Vineet Agrawal.

Union health minister JP Nadda on Wednesday directed for special heatwave units to be started in central government hospitals, with the temperatures soaring. An advisory was issued to state health departments to reduce health impacts of extreme heat.The Director General of Health Services (DGHS) Dr Atul Goel directed the central government hospitals to identify cases of heat related illnesses (HRI) on time, triaged and provided immediate attention with rapid, active cooling and subsequent supportive care."All AlIMS and State Govt. Institutions to ensure all health professionals, ambulances and health facilities ensure immediate attention to such patients in facilities prepared to manage HRIs in accordance with local temperature forecasts and warnings," he said in a letter.While reviewing the heatwave situation and preparedness of central government hospitals, Nadda asked the officials to ensure that all hospitals are prepared to provide the best healthcare to those affected from heatwave.Parts of India have been reeling under excessive heat, with the maximum temperature soaring to 45 degrees Celsius.The health ministry in its advisory to the states asked the state health departments to organize a task force meeting for update and approval of the heat-health action plan at State/District levels. "This plan should detail the ‘Standard Operating Procedures’ which shall be in place during heat wave season," it said.States have also been told to start daily submission of data on heatstroke cases and deaths, emergency attendance and totaldeaths from March 01, 2024, on IHIP portal under National Programme on Climate Change and Human Health.The health ministry has asked the states to undertake “Investigation of Suspected Heat Related Illness Death” by medical officer/epidemiologist for each suspected heat-related illness deaths.Healthcare facilities have been told have procurement and supply of adequate quantities of ORS packs, essential medicines, IV fluids, ice-packs, and equipments to support management of volume depletion and electrolyte imbalance etc."Identify active cooling strategies that can be used at health facilities and field levels based on resources available, it said, adding that while organizing mass gathering or sporting events during summer, sufficient preparedness should be made to prevent and manage heat-related illnesses (HRI) through active engagement of health departments, other relevant departments, and local administration.Meanwhile, doctors are seeing increasing number of cases of fever, fatique and low blood pressure due to heat wave.Dr Ritesh Yadav, Senior Consultant - Internal Medicine Paras Health, said temperature have started picking up increasing the risk of heat strokes."We are getting at least 28 cases per week with fever and heat-related issues. The patients visiting our hospital are having fever, fatigue, and low blood pressure. The cases are likely to increase next month with mercury soaring above 40 degrees Celsius, he said. Dr Yadav recommended avoiding outdoor exercise in very hot weather.Dr. Atul Kakar Chairperson, Department of Internal Medicine Sir Ganga Ram Hospital echoed the same concern regarding rise in heat-related illnesses attributed to increasing temperatures, as evidenced by a significant influx of patients seeking medical attention."At the outpatient department (OPD), medical facilities are reporting between 30 to 35 cases weekly related to heat-induced ailments. These include conditions such as heat cramp and heat exhaustion," he said.Earlier in June too the government had asked all states and union territories to "immediately" implement the heat health action plan to ensure safety of people amid rising temperatures that are triggering intense heatwaves across the country.

The Union Cabinet led by Prime Minister Narendra Modi on Wednesday approved minimum support price (MSP) for 14 kharif crops. Announcing the decision, Ministry of Information and Broadcasting Ashwini Vaishnaw said, "Some very important decisions have been taken in today's Cabinet. One very important decision has been taken for the welfare of farmers. Kharif season is starting, and for that, the Cabinet has approved MSP on 14 crops."The government on Wednesday raised MSP for paddy by 5.35 per cent to Rs 2,300 per quintal for the 2024-25 kharif marketing season. The hike in paddy support price comes despite the government sitting on surplus rice stocks, but it is significant ahead of elections in states like Haryana, Maharashtra, Jharkhand, and Delhi. 111118588"The third term of PM Modi is very important as it focuses on continuity with change through many decisions for farmers's welfare," said Vaishnaw.The MSP for 'common' grade paddy has been raised Rs 117 to Rs 2,300 per quintal, while for the 'A' grade variety it has been hiked to Rs 2,320 per quintal for the upcoming kharif season, Vaishnaw told reporters. 111118668The highest absolute increase in MSP over the previous year has been recommended for oilseeds and pulses viz. nigerseed (Rs.983 per quintal) followed by sesamum (Rs.632 per quintal) and tur/arhar (Rs.550 per quintal). 111118618The minister said the government is committed to providing price to farmers at 50 per cent more than the input cost and the decisions were aligned to that objective.After being sworn in as PM for the third time, Prime Minister Narendra Modi signed his first file authorising the release of the 17th instalment of PM Kisan Nidhi reflecting the commitment of the government towards farmer welfare.