5 Minutes Read

Chilling In The Heat: Symphony shares jump 10%; Blue Star, Voltas also gain post IMD warning

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Along with Symphony, shares of other cooling and fan-related companies like Voltas, Blue Star, Crompton and Orient Electric gained between 2.5% to 3% on Tuesday.

Shares of Symphony Ltd. gained as much as 10.4% on Tuesday after the Indian Meteorological Department (IMD) issued a warning of higher than normal temperatures in central and western peninsular India between April to June this year.

The IMD also guided for 10-20 days of heat wave in parts of Gujarat, Maharashtra and North Karnataka.

Along with Symphony, shares of other cooling and fan-related companies like Voltas, Blue Star, Crompton and Orient Electric gained between 2.5% to 3% on Tuesday.

In an interaction with CNBC-TV18 on March 20, Symphony’s Nrupesh Shah had said that demand trends in the Southern and Eastern parts of the country are “decent” and that inventory with dealers is at regular levels as demand is stable.

Shah also said that the company has not given any discounts on their products starting February but they do not see any further price hikes either.

In an analyst meet held last week, Crompton also told analysts that summers have started early and that they anticipate good demand for fans going forward.

Over the medium-term, Crompton expects Fans to be a double-digit growth category in the medium-term.

Symphony’s 10% jump is the biggest that the stock has seen in a single day since May 2020.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Air cooler maker Symphony sees stable demand, maintains 50% market share

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The air cooler manufacturer has not offered any discounts since February and there are no plans for any price increases in the near term, said Nrupesh Shah, MD of Corporate Affairs

Nrupesh Shah, MD of Corporate Affairs at air cooler manufacturer Symphony says, after a softer third quarter, demand is now stable and inventory levels have normalised.

Symphony remains committed to maintaining a 50% market share.

“Symphony is always a product leader, we keep on launching innovative, path-breaking models and that is how we command the market leadership, irrespective of the number of players in the organised market,” he said.

While Symphony reported lower than estimated revenue in the third quarter due to subdued domestic demand, resulting from the poor summer sales, its gross margins expanded due to tactical pricing, value engineering and softening of commodity prices,

Higher gross margin resulted in expansion in earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin. The third quarter margin was at 17.8%, while for April-December 2023, it was 13.5%.

Symphony aims to take 25% (EBITDA) margin on a consolidated basis.

The company has not offered any discounts since February and there are no plans for any price increases in the near term, Shah said.

Also Read | Symphony addresses Q3 challenges, expects strong turnaround in FY25

The air-cooling industry is expected to growth at 10% compound annual growth rate (CAGR), with organised players growing at a faster pace.

On a consolidated basis, international business contributes 35-40% of total sales for Symphony.

The current market capitalisation of the company is 5,678.26 crore.

For more, watch the accompanying video

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Symphony addresses Q3 challenges, expects strong turnaround in FY25

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Symphony Ltd. reported that the higher inventory levels across channels adversely impacted its revenue in the third quarter of the fiscal year 2024. The company, known for its innovative cooling solutions, emphasised that the inventory build-up is an industry-wide concern and not specific to Symphony.

Symphony Ltd., a leading player in the air cooling solutions industry, shared insights into its Q3FY24 performance, acknowledging challenges posed by higher channel inventory. However, the company remains optimistic, attributing its resilient margins to the impressive performance of subsidiaries.

Symphony Ltd. reported that the higher inventory levels across channels adversely impacted its revenue in the third quarter of the fiscal year 2024. The company, known for its innovative cooling solutions, emphasised that the inventory build-up is an industry-wide concern and not specific to Symphony.

Despite the Q3 challenges, Symphony highlighted its sustained market dominance, boasting a 50% market share in its targeted segment. The company remains confident that strategic measures will be implemented to address the inventory issue and ensure sustained growth in the upcoming quarters.

An encouraging note was struck as Symphony’s subsidiaries demonstrated robust performance, contributing positively to overall margin resilience. This revelation suggests that the company’s diversified portfolio is proving to be a valuable asset, mitigating the impact of challenges in specific segments.

Symphony also provided a broader market perspective, noting that the stabilisation of export markets and lower freight costs compared to two years ago bode well for the company’s operational efficiency in the long run. These factors contribute to a more favorable business environment, allowing Symphony to navigate challenges and capitalise on emerging opportunities.

Looking ahead, Symphony expressed optimism about the turnaround of its Australia business, projecting a positive shift in fiscal year 2025.

Watch video for full interview

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Symphony shares fall 10% in two sessions despite management guiding for extended summer in FY24

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

In a conference call with analysts, the Symphony management said that the impact of unseasonal rain on sales was approximately 10 percent.

Shares of Symphony Ltd., a leading manufacturer of air coolers, dropped over 5 percent in trade on Monday despite the management saying that there would be an extended summer in financial year 2024 due to El Nino conditions, which may boost sales.

In a conference call with analysts, the Symphony management said that the impact of unseasonal rain on sales was approximately 10 percent.

Symphony’s revenue from operations declined 19.8 percent to Rs 308 crore in the March quarter, compared to Rs 384 crore in the year-ago period.

The management further added that the exports were also affected by the drop in the US sales and recession in the Australian markets.

However, Symphony expressed optimism that growth prospects for the climate technology business in the US and Australia remain intact in the medium to long-term.

The management expected to achieve the historical EBITDA margin levels in the long run, supported by new launches, price hikes and reduction in the cost of doing business. EBITDA refers to earnings before interest, tax, depreciation and amortisation.

EBITDA margin for the March quarter fell to 8.8 percent from 22.4 percent last year.

On Friday, Symphony had announced that its consolidated net profit dropped 75 percent year-on-year to Rs 16 crore for the fourth quarter ended March (Q4FY23) compared with a profit of Rs 64 crore a year ago.

Shares of Symphony are trading 4.7 percent lower at Rs 897.15. The stock had declined 5 percent on Friday as well.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Symphony Q4: Consolidated profit drops 75% to Rs 16 crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Symphony on Friday reported a 75 percent year-on-year (YoY) decline in consolidated profit at Rs 16 crore for the fourth quarter ended March 31, 2023 (Q4FY23). It has posted a profit of Rs 64 crore in the corresponding quarter of the previous financial year (Q4FY22). The air cooling solution provider also saw a decline in …

Symphony on Friday reported a 75 percent year-on-year (YoY) decline in consolidated profit at Rs 16 crore for the fourth quarter ended March 31, 2023 (Q4FY23). It has posted a profit of Rs 64 crore in the corresponding quarter of the previous financial year (Q4FY22).

The air cooling solution provider also saw a decline in revenue from operations at Rs 308 crore, down 19.8 percent (YoY), against Rs 384 crore posted last year.

Symphony’s EBITDA (earnings before interest, taxes, depreciation, and amortisation) fell 68 percent (YoY) at Rs 27 crore in the reported quarter against Rs 86 crore posted last year. Its margin stood at 8.8 percent in Q4FY23 against 22.4 percent posted in Q4FY22.

In addition, the Board of Directors of the company has recommended a final dividend of Rs 1 for FY23.

The company in its release says that it has recorded the highest ever Q4 domestic sales in the reported quarter despite unseasonal rains in March 2023. It has seen a 23 percent growth in sales in Q4FY23 vis-à-vis Q4FY22, which was the historical highest Q4 for the company.

Global headwinds severely impacted performance of CT Australia (USA & Australia domestic both), which had an impact on the its consolidated profitability for the quarter.

Besides, Symphony says that it will complete buyback of shares at Rs 2,000/share by end of this month. The buyback window opened on May 3 & will close on May 17, 2023.

Shares of Symphony was trading at a loss of over 4 percent at Rs 951 per share at 2:20 pm on NSE today, May 5, 2023.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Sun got no chill: Symphony, Voltas shares rise amidst country-wide heatwave alerts

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

IMD on Monday had also issued a heatwave warning for the next 48 hours in isolated areas of Konkan belt and Kutch region in Gujarat.

Shares of Symphony Ltd, a leading provider of air-cooling solutions for household, commercial and industrial establishments, surged 7 percent in trade on Tuesday as heatwave alerts in different parts of the country came earlier than expected.

The Indian Meteorological Department (IMD) has said that the maximum temperatures are likely to remain 5-7 degree Celsius above normal over many parts of northwest India for the next three days.

IMD on Monday had also issued a heatwave warning for the next 48 hours in isolated areas of Konkan belt and Kutch region in Gujarat.

The national capital Delhi, too, recorded the warmest day on February 20 since 2013, with the day’s temperature rising up to 33.6 degree Celsius.

Meanwhile, Symphony shares have also been upbeat after the company reported a strong quarter for the October-December period.

The company’s standalone revenue saw 53 percent year-on-year growth during the quarter. The management, while announcing the earnings, said that Symphony is seeing strong demand in India from channel partners and expects it to sustain itself in the near-term.

In a research report dated February 8, 2023, YES Securities said that it was bullish on Symphony and recommended a ‘buy’ rating on the stock with a price target of Rs 1,291.

“We expect a strong recovery in the domestic air‐cooling market to continue in the upcoming summer. Now with lower commodity prices and price increases being affected, margins are set to improve and return to pre‐covid levels,” it had said in the report.

Shares of Symphony are trading 5.5 percent higher at Rs 1,118.50, while those of its peer Voltas are also trading with gains of 1.7 percent. Blue Star trades little changed.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Storyboard18 | Summer advertising heats up as temperatures soar

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Summer category brands have already mounted big-scale campaigns across media platforms and properties such as the Indian Premier League (IPL).

After a tepid 2021 and 2020 owing to covid-19 led disruption, summer category brand campaigns are back with a bang this year. From colas, coolers/air conditioners to travel companies, brands are leaving no stones unturned to lure customers to buy their products.

In a conversation with Storyboard18, Navin Khemka, CEO South Asia at MediaCom says that it is the first time in the last three years that we are having a normal Q2, a normal summer quarter.

“The last two quarters were badly affected by covid-19 which also impacted media spends in a big way across categories. Therefore, a lot of the growth of media spends this year will be dependent on this quarter and if it continues to go the way it is going right now then the real growth in the adex will return in 2022,” he adds.

Big spends

As per the GroupM TYNY 2022 report, ad spends are estimated to reach Rs 107,987 crore in 2022 in India registering an estimated growth of 22 percent for the calendar year 2022.

“Quarter two will account for 26-27 percent of overall adex. The big change we have seen in the last two years is that we are seeing all summer category brands are back with a huge activity be it soft drinks, hospitality, travel and consumer durables. Of course, the new age brands continue to aid this category further,” Khemka adds.

Summer category brands have already mounted big-scale campaigns across media platforms and flagship properties such as the Indian Premier League (IPL).

Campaign galore

Parle Agro said that it’s the first time we have four high-octane campaigns being rolled out which also taps into IPL media property and premiere of movies. The company’s fruit-based beverage brands Frooti, Appy Fizz and B Fizz and flavoured milk brand, Smoodh will be spearheading our summer campaigns this season.

“Capitalising on the high reach and visibility of big-ticket events, our brand communication will also be promoted across mass pillars like entertainment and sports. Out-of-home mobility resuming to pre-covid levels has given a massive boost to out-of-home consumption. We have implemented a high impact and innovative OOH strategy with eye-catchy hoardings at places of commute and points of purchase,” tells Nadia Chauhan, joint managing director and CMO, Parle Agro.

When compared to last year, this season comes with much-awaited optimism with markets opening up to nearly 100 percent and brands are geared up to capitalize on this opportunity that this season offers.

Travel and tourism ads are also gaining visibility. Online booking platform RedBus, for instance, brought Pushpa famed actor Allu Arjun to spearhead its summer campaign across TV, cinema, digital, social media and OOH platforms.

Symphony Ltd has launched a new campaign to promote its newest air cooler offerings. Electronics firm Voltas Ltd, for instance, has already rolled out its summer campaign in March which will be promoted through June. The company has invested in omnichannel platforms such as digital, electronic, and print to communicate and engage with consumers.

“Additionally, our association with IPL for the past decade has consistently given us incremental gains, as it reaches out to multiple consumer segments and provides wide reach and scale. And this year we will continue to leverage this opportunity,” says Deba Ghoshal, Vice President and Head of Marketing, Voltas Ltd.

Ice-creams, another key summer category, is also back as more ad campaigns by brands gain momentum with soaring temperatures. Havmor Ice Cream is advertising during the IPL with Disney + Hotstar as the lead on OTT in addition to the other OTT platforms. The company has introduced bite-sized ice creams called Shotties and a premium range of TUBS in various flavours.

“Our TV spending has gone up by 2X ensuring we have a prolonged presence during the summer months. In addition, we continue to build on our IP, The Coolest Summer job which will be in its 5th edition and will start accepting entries from 22 April,” notes Vincent Noronha, vice-president, marketing, Havmor Ice Cream.

IMD’s prognosis of a hot summer, high vaccination coverage and low caseload might turn out to be the right mix for brands to redeem themselves this summer season.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

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Symphony sees uptick in demand, will increase prices April onwards

Voltas

Achal Bakeri, Chairman And Managing Director, Symphony sees a fairly good uptick in demand.

The company has absorbed quite a bit of the cost on the expectation that some of the costs will soften going forward plus there is fair amount of inventory lying with the channel. So price increase wouldn’t have helped the company much. However, going forward beginning from next month, Symphony intends to correct that and increase prices, he said.

For the full interview, watch the accompanying video.

Catch all stock market updates here

Fourth quarter looks promising; input cost increase largely done: Symphony

The Q4FY22 looks promising, said Nrupesh Shah, executive director of Symphony, on Thursday, adding that input cost increase is largely done except fuel cost.

The electronics company reported earnings for the December 31, 2021-ended quarter. The earnings were better than estimates even if it reported a weak set of numbers.

In an interview to CNBC-TV18, Shah said, “Q4 seems to be promising and unlike last two summers, this time the third wave (COVID-19) has come in January and hopefully it should not be any more disturbing.”

On input cost pressure, he said, “There has been a major pressure of input cost increase and on top of it also the logistic cost, but it seems that input cost price hike is almost done except fuel price increase.”

Also Read: Consumer durables prices to go up 5-10% as makers feel heat of rising input costs

“We wish to keep a very competitive price but at right time maybe in March-April or later, we are there to take a price increase,” said Shah.

Also Read: Consumer durables to see strong bounceback this fiscal

Talking about orders, Shah said, “We are sitting on a large number of confirmed orders from the United States; there has been some spillover and that export is taking place in the current month.”

For the entire interview, watch the video

Storyboard: Piyush Pandey on his new role at Ogilvy; Impact of new guidelines on influencer marketing

Ogilvy recently elevated Piyush Pandey to the position of Chairman, Global Creative at Ogilvy as he continues to serve as the Chairman of Ogilvy India.

Liz Taylor will be taking on the role of Global CCO from Piyush Pandey as he moves on to his next role.

Storyboard’s Shibani Gharat spoke to Piyush Pandey about his new role in the company and advertising in the times of COVID-19.

Meanwhile, the Advertising Standards Council of India (ASCI) has come out with a new set of guidelines for influencer marketing with the stakeholders and the influencers.

Storyboard’s Ankita Saxena spoke to Subhash Kamath, Chairman of ASCI about the new guidelines and how they are likely to impact influencer marketing and brand engagement.

Also, Storyboard caught up with Achal Bakeri, Founder, Chairman and MD of Symphony to find out how are sales picking up in the summer season and what is the customer sentiment looking like given the second wave of COVID-19.

Watch the video for more.