Firms brace for cost inflation as commodity prices catch up
Odisha Slurry Pipeline Infrastructure is a crucial raw material supplier to Essar Steel’s plant in Odisha.Premium
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India Inc. needs to gear up for a gradual increase in raw material costs due to the recent rise in some global commodity prices. In the past three months, prices of crude oil and steel have risen sharply by around 30% and 15%, respectively. Analysts attribute this increase to the lag in supply-chain restoration and robust demand from China.
Hard hit by the pandemic, corporates opted for massive cost rationalization measures to shield their earnings performance. In the past two quarters, companies cut back on employee and advertisement costs, and other operating expenses. However, with businesses resuming normalcy, most of these savings will reverse. This, coupled with the ongoing increase in raw material costs, may push companies to initiate price hikes to curb ma
Stellar DoorDash listing sets stage for Indian food delivery app Zomato IPO
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Investors are on a high, with jab sessions beginning in earnest in the UK, and expected to gradually spread worldwide soon. One clear sign of the euphoria is the massive listing gains of recent IPOs in the US. DoorDash Inc., an American online food delivery services firm, had an extraordinary debut, with a listing gain of over 80% from its issue price. The company, which posted a net loss of $149 million for the nine months ended September, listed with a market capitalization of $60 billion. For perspective: private investors had valued DoorDash at $16 billion in June. Based on the IPO pricing, the firm was valued at around $32 billion.
Stellar DoorDash listing sets stage for Zomato IPO livemint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livemint.com Daily Mail and Mail on Sunday newspapers.