The over-four-decade-old company has long been a supplier to brands like Cadbury and McDonald’s. It is now looking to build a pan-India retail presence, riding on its baked goods business.
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Picking Zomato and Jio Financial Services for inclusion in the benchmark index is part of a larger trend where NSE opts for expensive stocks. Meanwhile, cheaper Chinese equities beckon investors.
While legacy companies are looking to grab a slice of the D2C pie, smaller brands have their own challenges that are pushing them to get acquired.
Going by the FMCG giant’s stated intent and need, fans of the little over four-year-old, digital-first skincare brand have no reason to worry.