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As On 04-Jul-2022 EOD, Market Closed
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  • lTC to invest in D2C community-commerce brand Mylo

    ITC said that it will acquire 10% stake in Blupin Technologies, the company behind brand Mylo.



    Founded in 2017, Mylo, is a full stack community eco-system focused on the parenting journey of young families. Mylo addresses the needs of its consumers through a wide and relevant range of content, health tools, conversations and community sharing features.

    Beyond personalised content and an active community, Mylo also offers its users direct-to-consumer (D2C) personal care brands.

    With this investment, lTC will further expand its presence in the D2C mother and baby care segment.

    In November 2021, the company had announced its investment in Mother Sparsh Baby Care, an ayurvedic and natural personal care brand in the D2C space with a focus on the mother and baby care segment.

    This investment will provide lTC an early mover advantage in the evolving content-to-community-to-commerce space, which is expected to emerge as a platform of the future.

    The 'lTC Next' strategy articulated by chairman Sanjiv Puri, which focusses on agility, consumer-centricity and future readiness amidst a digital-first culture has identified such value accretive opportunities as a vector of growth.

    Commenting on the development, Sameer Satpathy, chief executive, personal care products business, lTC, said, "Within a short period of time, Mylo has demonstrated great potential in the evolving Content-to-Community-to-Commerce model by nurturing an online platform where people learn, share, trust and belong.

    The investment will provide lTC the opportunity to foray into this emerging space and become an integral part of the evolution ofthis area. Our investment in Mylo will also enable us to strengthen focus in the mother and baby community building platform, besides expanding our presence in the D2C mother and child care segment."

    Mylo has a content and community first approach that aCts as a key differentiator for the brand. The model focuses on a creating a wide range of useful content and digital health tools across different life stages of the expectant and young mothers, driving community-conversions for its Mylo range of products and service.

    With a learn-share-buy philosophy, the brand has been able to drive high engagement amongst its users, leading to a strong conversion to purchase and high consumer retention.

    Till date, the platform has over 22 lakh questions and 1.6 crore answers along with over 3.7 crore content pieces that drive engagement.

    ITC has a diversified presence in FMCG, hotels, packaging, paperboards & specialty papers and agri-business.

    The company's standalone net profit rose 12.70% to Rs 4,156.20 crore on 32.06% increase in net revenue to Rs 15,689.29 crore in Q3 December 2021 over Q3 December 2020.

    The scrip added 0.35% to end at Rs 260.40 on the BSE.

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Flash News 04-Jul-2022
  •  ( 15:45) Tata Power signs pact for solar manufacturing plant in TN  
  •  ( 14:53) Mahindra Finance disbursement soars 115% YoY in June'22  
  •  ( 14:50) Va Tech Wabag wins order from Reliance Industries  
  •  ( 14:31) Private bank stocks advance  
  •  ( 14:31) Shares trade near the day's high  
  •  ( 13:43) Dilip Buildcon emerges as lowest bidder for Rs 702 cr project  
  •  ( 13:35) Sensex adds 100 pts; european stocks edged higher  
  •  ( 13:32) Ashoka Buildcon JV emerges as the lowest bidder for Rs 611-cr project  
  •  ( 12:41) Renaissance Global D2C biz Q1 FY23 revenue up 63% YoY  
  •  ( 12:35) Nifty hovers above 15,750 level, FMCG shares in demand  
  •  ( 12:10) DCB Bank increases MCLR rates  
  •  ( 11:33) Bank stocks in demand  
  •  ( 11:33) Sensex, Nifty trade sideways  
  •  ( 11:3) Brigade Enterprises unit acquires stake in Tandem Allied Services  
  •  ( 11:05) Adani Ports handles total cargo volume of 31.88 MMT in June 2022  
  •  ( 10:58) HDFC Bank Q1 advances jumps 22% YoY  
  •  ( 10:48) IDFC First Bank total deposits grow 21% YoY in Q1  
  •  ( 10:35) Metal stocks decline  
  •  ( 10:35) Nifty slides below 15,700  
  •  ( 10:19) CSB Bank total deposits jump 9% YoY in Q1 FY23  
  •  ( 1) Federal Bank rises as Q1 retail deposits grow 10% YoY  
  •  ( 09:45) National Fertilizers reports strong fertilizer sales in Q1 FY23  
  •  ( 09:43) Angel One client base soars 97% YoY in June  
  •  ( 09:30) Strong market breadth  
  •  ( 09:30) Benchmarks trade with minor gains  
  •  ( 08:38) Asian stocks trading mixed  
  •  ( 08:36) Paisalo Digital board to mull NCDs issue on 6 July  
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04 July 2022 00:00
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