Foxconn revenue hits $64.72 Bn💰
Hindustan Unilever to acquire Minimalist, SBI launches online onboarding for NRIs, Health, fitness products fly off the shelves, Funding Deals and more.
Good morning and welcome to Monday’s edition of Rise & Shine!
“Every champion was once a contender that refused to give up.”
— Sylvester Stallone
Today, Sylvester Stallone’s motivational words remind us that champions are not born but made through perseverance, resilience, and an unwavering refusal to give up.
Champions are simply those who keep striving when others might quit.
Tech Updates
Hindustan Unilever in talks to acquire Minimalist for Rs 3,000 Cr
Hindustan Unilever Limited (HUL), a fast-moving consumer goods company, is reportedly in advanced discussions to acquire a majority stake in the skincare startup Minimalist for approximately Rs 3,000 crore (more than $350 million). Founded by serial entrepreneurs Mohit and Rahul Yadav, Minimalist is a skin and hair care brand offering products such as serums, toners, and moisturizers.
SBI launches online onboarding process for NRIs to open NRE, NRO accounts
India's largest bank, the State Bank of India (SBI), has launched a new online onboarding process for non-resident Indians (NRIs) to open non-resident external (NRE) and non-resident ordinary (NRO) accounts. The new platform is an end-to-end digital onboarding process that has been made available across SBI branches in India and select foreign offices.
Health, fitness products fly off the shelves for D2C, quick commerce
Direct-to-consumer (D2C) brands and quick commerce platforms are witnessing a significant spike in demand for health and fitness products as consumers prioritise fitness and personal well-being in the New Year. Quick commerce platforms are fueling this trend by making fitness and wellness products more accessible. Swiggy Instamart, for instance, recorded a 123% surge in orders for protein-based items between January 1 and January 2.
Foxconn Q4 revenue hits $64.72 billion; beats estimates over high AI server demand
Taiwanese giant Foxconn or Hon Hai Precision Industry Co., Ltd beat its revenue estimates for the fourth quarter. The company announced its highest-ever revenue record fueled by strong demand for artificial intelligence (AI) servers. The world's largest contract electronic maker's revenues surged 15.2% to $64.72 billion (T$2.13 trillion), according to a company statement released on Sunday, cited by the agency. Foxconn beat the LSEG SmartEstimate of T$2.1 trillion.
Funding Deals
Hospitality major Oyo has raised Rs 550 crore (approximately $65 million) from Redsprig Innovation Partners, an affiliated entity of the company’s founder Ritesh Agarwal.
Balmer Lawrie & Co Ltd, a central public sector undertaking, announced an equity funding of Rs 1 crore in NapTapGo, a startup in the affordable hospitality segment, as part of its annual startup fund program.
🥊 Short Story: The Relentless Boxer
Ravi, an amateur boxer, faced a series of defeats early in his career. Many told him he didn’t have what it takes, but Ravi refused to give up. He trained harder, learned from his losses, and built his skills and confidence.
Years later, he became a national champion, proving that persistence and self-belief can turn any contender into a champion.
Tweet of the day🐥
As you start your week, remember that persistence is the key to turning challenges into victories.
Rise & Shine encourages you to keep going, no matter how tough the journey may seem.
Have a resilient and winning Monday!
Thanks for reading till the end!