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CCI finds Zomato and Swiggy guilty for violating competition laws

TFW Bureau Nov 11, 2024 - 1 min read

India's Competition Commission of India (CCI) has found food delivery giants Zomato and Swiggy guilty of violating competition laws, according to a report by Reuters. The investigation revealed that both companies allegedly engaged in practices favouring select restaurant partners, thereby limiting market competitiveness, according to documents cited ...

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TGI Friday’s files for bankruptcy on November 2

TFW Bureau Nov 11, 2024 - 1 min read

TGI Friday's has become the latest restaurant chain casualty, filing for Chapter 11 bankruptcy in Texas on November 2, according to a Bloomberg report. The casual dining restaurant chain said it is facing challenges from changing consumer habits amid a cost-of-living crisis and increased competition from fast food options, the report ...

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Devyani International Limited signs Master Franchise Agreement for three new brands

Beny Sachdeva Nov 11, 2024 - 2 min read

Devyani International Limited (DIL) one of the largest Quick Service Restaurant (QSR) operators in India, has announced that it has secured Exclusive Master Franchise rights for three modern QSR brands - TeaLive, New York Fries and SANOOK KITCHEN. As DIL’s existing brands continue to drive store growth and introduce exciting new menu offerings, DIL broadens ...

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Day two of offer: Swiggy IPO receives 35% subscription

TFW Bureau Nov 09, 2024 - 1 min read

Swiggy’s initial public offering (IPO) received a 35% subscription on day two of the share sale. The initial share sale of the food delivery and quick-commerce major received bids for 5,56,98,652 shares against 16,01,09,703 shares on offer, as per NSE data. The portion for Retail Individual Investors (RIIs) got subscribed 84% ...

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Trent Q2 result: Profit grows 47% to Rs 335 cr; sales jumps 39.3%

TFW Bureau Nov 09, 2024 - 1 min read

Trent Ltd, retail firm from Tata group, reported a 46.9% growth in its consolidated net profit to Rs 335.06 crore for the second quarter ended September 2024. The company posted a consolidated net profit of Rs 228.06 crore a year ago, according to a regulatory filing from Trent Ltd, which operates retail stores under ...

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Shibashish Roy to be the new CEO of Croma

TFW Bureau Nov 08, 2024 - 1 min read

Infiniti Retail Ltd., the Tata Group company behind Croma, India's leading electronics and consumer durables brand, has appointed Shibashish Roy as its new Chief Executive Officer (CEO), with effect from November 18, 2024. “The decision is an outcome of succession planning process in the organisation with the imminent retirement of the present Managing ...

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