The latest raids targeting the “quick commerce” sector, where companies deliver groceries within minutes, come after the state’s new food safety head, Tukaram Mundhe, 51, shut some of Mumbai’s most popular eateries for poor hygiene.

Reports of food contamination are common in India’s food sector, but Mundhe’s drive is gathering widespread public and media attention for his rigorous approach, as historically there has been little enforcement of food safety standards.

Mundhe’s department this week shut four Domino’s outlets, a brand that is India’s biggest fast-food chain and typically considered to have stricter safety protocols.

The state’s Food and Drug Administration said in a statement on Friday that it had inspected 86 establishments, issued 60 “improvement notices”, and suspended the permits of five warehouses of Eternal’s Blinkit, five of Zepto’s, and two of Swiggy’s Instamart.

Swiggy and Eternal declined to comment, and Zepto did not respond to queries from Reuters.

Swiggy posts narrower loss as quick commerce arm hits contribution break-even

Booming sector faces scrutiny

Swiggy and Zepto have roughly 1,100 delivery outlets each in India, and Blinkit has 2,200, according to Datum Intelligence.

Photos shared by the state FDA about its crackdown on the companies showed rusted and dirty storage racks, with cockroaches crawling around food items.

The raids have put a spotlight on the $13 billion quick commerce sector which has over the years raised billions of dollars of foreign capital, with companies clocking 9 million daily orders.

On Saturday, consumers vented their frustration on social media about poor standards maintained by the companies, expressing shock at the FDA pictures posted by local media.

“About damn time. A city wide crackdown in all quick e-commerce warehouses is needed,” Nolan Lucano D’souza wrote on X.

At one of the food storage facilities of Blinkit, India’s biggest quick commerce company, according to the release from Mundhe’s office on Friday, inspectors found a cockroach infestation and rotten vegetables, and inspections at other sites turned up rodent droppings and unhygienic conditions.

At a Zepto warehouse in Nashik in northwestern Maharashtra state, delivery staff were entering storage areas in street footwear, raising cross-contamination risks, the state FDA statement also said.

A Reuters photographer who visited one Blinkit store scrutinised by the FDA saw cleaning and pest-control work under way, with trash bins outside filled to the brim.

“We will not tolerate any playing with public health,” Mundhe said in the FDA statement, warning of tougher action against unsafe food preparation and unhygienic food storage.

On August 7, ZARR delivered its highest-ever daily sales performance, 3x its previous peak, helping drive 4x MoM growth. This momentum reflects the strength of an ecosystem-wide push, differentiated and exclusive assortment, compelling brand-funded discounts, and payment-led incentives, together reinforcing ZARR’s growing relevance with both customers and brand partners.

The Azaadi Sale has been a defining catalyst in ZARR’s growth trajectory. With 2.5 million active users, 30%+ repeat shoppers and ~70% prepaid orders, the platform is demonstrating strong customer trust and stickiness. Its structural edge is the Jazzworld ecosystem, which drives nearly 60% of orders through precision targeting, hyper-personalization and proprietary lookalike modelling, giving brands privileged access to a high-intent audience at scale.

The growth has been supported by a unified push across the JazzWorld ecosystem, exclusive brand inventory and discounts, partner-funded payment offers through JazzCash and PayPak, as well as a focused marketing campaign designed to drive awareness and customer engagement.

Ali Fahd, President, Jazz Lifestyle Ventures (JLV), said, “ZARR’s record performance demonstrates what is possible when ecosystem capabilities, differentiated offerings, and focused execution come together. The traction from exclusive inventory is particularly encouraging, reinforcing our belief that differentiated assortment can become a sustainable engine for growth.”

The latest results underscore ZARR’s growing potential within the wider JazzWorld ecosystem. Beyond short-term campaign momentum, the increasing contribution of exclusive inventory points towards a broader strategic opportunity: creating a distinctive assortment that gives customers compelling reasons to discover and return to the platform.

With strong ecosystem support, an expanding proposition, and continued focus on customer experience, ZARR is positioning itself to build sustained momentum and unlock the next phase of its growth.

Copyright Business Recorder, 2026

Customers can enjoy Costa Coffee’s signature handcrafted beverages, prepared with the brand’s distinctive Mocha Italia Signature Blend, alongside a carefully selected range of food and bakery options. Every part of the experience reflects the care, quality and coffee expertise that have defined Costa Coffee for more than 50 years.

Speaking on the expansion, Akram Wali Muhammad, Group Managing Director of Gerry’s Group, said: “Costa Coffee has become much more than a coffee brand in Pakistan. It has evolved into a place where people meet, work, celebrate milestones and build everyday connections. As we continue expanding, our focus remains on identifying communities where Costa can naturally become part of people’s daily lives.”

Copyright Business Recorder, 2026

A prototype of the jet, known as the Advanced Medium Combat Aircraft, is expected to roll out in 2028 and play a key role in India’s future air combat strategy.

Last year, India approved a framework to build its most advanced stealth fighter jet and invited interest from defence firms.

In a move to reduce its dependence on imported defence equipment, the country also opened the door for domestic companies to participate in developing the twin-engine stealth fighter, approving the execution model for the Advanced Medium Combat Aircraft (AMCA) programme.

Under the proposed partnership announced on Friday, Reliance and Rolls-Royce will explore forming a dedicated aerospace gas turbine complex in India to jointly develop the engine.

India clears proposal to buy 114 Rafale fighter jets from Dassault, reports say

“Our intent with Rolls-Royce is to combine their world-leading expertise in advanced propulsion with Reliance’s technology, manufacturing, scale and execution capabilities to build an indigenous aero-engine ecosystem in India,” Reliance Executive Director Anant Ambani said in a statement.

The announcement potentially positions the British aero-engine maker against France’s Safran, which has separately proposed a joint venture with India’s state-run GTRE to develop a higher-thrust engine for later versions of the AMCA fighter.

Hindustan Aeronautics manufactures the 4.5-generation Tejas fighter jet, but has faced slow engine deliveries from General Electric due to supply chain issues faced by the U.S. firm.

Rolls-Royce, which has previously worked with India on military propulsion programmes, supplies engines for a range of defence and civil aerospace applications.

The shares listed at 165.9 rupees apiece on the National Stock Exchange of India, a premium of 4.3% to their issue price of 159 rupees.

 The KKR-backed firm had received bids for 8.38 times the number of shares on offer in a $260 million IPO.

The IPO comprised a fresh issue of shares worth $50.3 million and an offer-for-sale of $209.7 million, mostly by KKR-backed Vertical Holdings II.

The trading debut comes in a subdued market, with the benchmark Nifty 50 index down 0.2%.

Retail investors subscribed 1.71 times the shares reserved for them, on valuation concerns, analysts said.

Indian shares end week lower as higher crude tempers risk appetite

“Declining EBITDA margins despite rapid scale-up, sensitivity to utilisation and asset recovery, and the absence of direct listed peers temper near-term earnings visibility and valuation comfort,” Arihant Capital said in a note last week.

Vertical Holdings II sold about $39 million worth of shares in LEAP India in a private placement ahead of the public launch of the IPO.

The license of one Pizza Hut store was also suspended as many products used were found to lack expiry dates, according to a note from the state’s Food and Drug Administration about this week’s operation that was shared with Reuters late on Thursday.

Jubilant FoodWorks, which operates Domino’s outlets in India, declined to comment, and Pizza Hut franchisee Sapphire Foods did not respond to a Reuters request for comment. Domino’s Pizza Inc. and Yum Brands, which owns Pizza Hut, did not immediately respond to requests for comment.

In recent weeks, India’s federal food regulator has cracked down on labelling by companies including PepsiCo and Diageo that it says breaches rules, while also cancelling many food business licenses over poor hygiene.

Maharashtra, home to Mumbai, has seen its new food safety chief, Tukaram Mundhe, conduct raids and shut popular eateries, making him a social media sensation.

Many Indian roadside food and local restaurants have a reputation for poor food quality. On Tuesday alone, Maharashtra food officers inspected more than 100 outlets, and issued “improvement notices” to 95 of them.

Mundhe’s department also inspected outlets of Domino’s and Pizza Hut, foreign brands which have a reputation for maintaining stricter safety and hygiene protocols.

The government department said three Domino’s outlets in Mumbai and one in another city lacked proper pest control.

“The administration has a strict stance on the quality of food items,” Mundhe said in Thursday’s note.

Footage posted online by Indian media outlets appeared to show at least one Domino’s outlet’s pizza oven containing heavy rust and a buildup of food and grease.

Over the years, Domino’s and Pizza Hut have become popular, with outlets expanding fast into India’s smaller cities. Domino’s is also India’s largest international fast-food and pizza chain, with around 2,400 outlets.

The August 4 incident occurred on Air India flight AI2379 from Phuket to Delhi, which landed safely in Delhi despite the altitude loss.

Airbus’ initial analysis showed the plane registered losses in all three hydraulic systems, which use pressurised fluid to power flight controls and other equipment, in quick succession.

For about four seconds, the pilots were unable to use the elevators and ailerons, movable parts on the wings and tail that control whether the plane points up or down and banks left or right. During that time, the aircraft pitched upward, Airbus said in a communication responding to an Air India request for an assessment.

The first officer applied a full nose-down input, but there was “no direct response” from the flight-control surfaces before the hydraulic systems recovered within seconds.

The assessment did not establish what caused the loss of hydraulic pressure.

Air India expands drug testing to all pilots after captain tests positive for marijuana

Airbus asked Air India to run tests on the aircraft’s hydraulic systems and the pressure sensors and switches that monitor them. It also asked for some sensors to be removed for inspection, and said further checks of the wiring might be needed.

Airbus also found the aircraft experienced forces above specified limits during the sudden altitude change. It asked Air India to inspect the plane for possible structural damage caused by the abrupt movement.

The planemaker also asked the airline for details of hydraulic system maintenance carried out in the past month and for more detailed accounts from the pilots, as it continued its assessment.

Air India did not respond to a request for comment. Airbus declined to comment on an ongoing investigation and said it was providing technical assistance to relevant authorities under international rules governing air crash probes.

Serious incident

Air India initially described the event as turbulence-related. Its later statement dropped that description, saying that the aircraft had suffered a sudden loss of altitude.

Indian authorities have classified it as a serious incident, and the Aircraft Accident Investigation Bureau is investigating, with technical assistance from Airbus and France’s BEA.

The flight’s captain tested positive for marijuana in a confirmatory drug test, according to a source familiar with the matter. No link between the test result and the altitude loss has been established to date, but Air India on Thursday began mandatory substance testing for all pilots, according to an internal memo.

The incident adds to the challenges facing Air India as former Ethiopian Airlines chief Tewolde Gebremariam prepares to take over as CEO.

The Tata Group-controlled carrier is trying to turn itself around while grappling with mounting losses and increased safety and regulatory scrutiny following the June 2025 crash of one of its Boeing 787s in Ahmedabad, India, which killed 260 people.

Singapore Airlines also has a roughly 25% stake in Air India.

The Securities Appellate Tribunal, which hears appeals against orders passed by the Securities and Exchange Board of India, allowed Zee to issue fully convertible warrants to a promoter group entity on a preferential basis, an order showed.

Shares of Zee ended 5.7% higher on Friday.

In July, SEBI barred Zee from the securities markets for two months, and CEO Punit Goenka and Founder-Chairman Emeritus Subhash Chandra for a year.

Last month, Zee approved the issue of convertible warrants worth 31.44 billion rupees ($329.5 million).

Indian broadcaster Zee posts quarterly loss on weak ad demand, higher costs

The tribunal said the company’s debarment from the securities markets would continue apart from the limited permission to complete the warrant issue.

The tribunal also extended by a week the deadline for the warrant issue, which was due to expire on August 14.

The stock was down 4.8% at 332.85 rupees as of 1:37 PM IST, its biggest one-day percentage decline since June 17. It was the top loser on the auto and Nifty 50 indexes.

During a post-earnings call on Thursday, Tata Motors PV said commodity-related cost pressures were expected to persist into the July-September quarter.

“The second quarter is going to hit us badly. Not just us, but the whole industry will get hit,” CEO Shailesh Chandra said.

Tata Motors says change of group chairman won’t affect investment plans

First-quarter margins at luxury unit Jaguar Land Rover (JLR), which makes up about 80% of Tata Motors PV’s revenue, and at its domestic passenger vehicle business both came in below analysts’ expectations.

Tata Motors PV is facing multiple headwinds at JLR, including increased competition, heavy discounts and high warranty costs, Jefferies said in a note. The brokerage lowered its FY27 earnings per share estimate by 10% and cut its target price on the stock while maintaining its “underperform” rating.

Margin pressure at JLR and in the domestic passenger vehicle business could weigh on the company’s cash generation in the near-term, Nomura said in a note, while maintaining its “neutral” rating.

Tata Motors PV on Thursday reported a quarterly consolidated net profit of 7.75 billion rupees in the April-June quarter compared to 39.24 billion rupees in the year-ago period.

The Post-it notes and Scotch-Brite cleaning pads maker reported a net profit of 2.33 billion rupees ($24.42 million) for the quarter ended June 30 from 1.77 billion rupees a year earlier.

Revenue from operations rose 19% to 14.23 billion rupees, while expenses increased 24.1% to 12.06 billion rupees from a year earlier.

3M India, a unit of U.S. industrial conglomerate 3M, sells a range of industrial, safety, healthcare and consumer products, from abrasives and adhesives to personal protective equipment and office supplies.

Shares of the company were up 0.6% after the results.

Analysts have previously flagged pressure on the company’s margins from rupee depreciation, commodity inflation and elevated freight costs.

Last month, parent 3M raised its full-year profit forecast, driven by strength in its safety & industrial business, as well as price hikes, which are expected to “fully offset” a hit to its profit from oil-led inflation.

The general public subscribed to around 813 million shares through 11,358 applications, with total retail subscriptions amounting to approximately Rs2.4 billion, the company said in an announcement following the conclusion of the offering.

In view of the strong demand, the allocation for general public investors has been increased from 25 percent to 35 percent of the shares offered to the public, which the company described as the first such increase in Pakistan’s IPO history.

Under the revised allocation mechanism, applicants seeking more than 2,000 shares will be allotted 5.32 percent of their requested shares on a pro-rata basis, according to the announcement.

The IPO comprised 150 million ordinary shares, which were initially offered at a floor price of Rs1.90 per share. The strike price was subsequently determined at Rs3 per share through the book-building process conducted on August 5 and 6, 2026.

The general public subscription was held on August 11 and 12, 2026.

The company said that, out of a total 219 million shares, 69 million shares were placed with pre-IPO investors. These shares represented an offer for sale by minority shareholders, according to the announcement.

The strong retail participation reflects significant investor interest in the offering, with the general public subscription substantially exceeding the number of shares initially earmarked for retail investors.

Topline Securities Limited is acting as the consultant to the issue. The company thanked investors for their participation and said the successful completion of the IPO marked a significant milestone for Tasdeeq Information Services Limited.

Copyright Business Recorder, 2026

The company posted a profit of 1.93 billion rupees ($20.22 million) for the three months ended June 30, compared with 2.01 billion rupees a year earlier.

Page said sales volumes grew 5.7%, faster than the 1.9% increase in the comparable quarter last year.

Revenue from operations rose 7.9% to 14.2 billion rupees.

However, margins came under pressure from higher input costs, particularly for cotton and other synthetic fibres.

Expenses rose 10.5%, outpacing revenue.

Operating profit margins declined to 20.3% from 22.4% a year ago.

Short-term logistics disruptions limited the company’s ability to meet demand, preventing underlying volume growth from fully translating into reported quarterly revenue growth, though conditions have begun to stabilise and the impact is expected to be temporary, the company said.

According to PhillipCapital, retail consumption improved in April and May before slowing in June, while price hikes helped cushion rising raw-material costs, though apparel and footwear retailers were expected to lag other retail segments.

Page Industries’ stock was down 4.7% after results.

Noel’s stewardship of the trusts, influence over Tata Sons’ succession process and role in the listing debate could shape the future of one of India’s best-known and biggest conglomerates.

Tata Sons, the holding company of the group with a combined market value of around $277 billion, must choose a new leader to succeed Chairman N. Chandrasekaran when his tenure ends in February 2027. Tata Trusts hold great sway over the decision with a controlling stake in Tata Sons.

Long overshadowed by his half-brother Ratan Tata, the public face of the conglomerate for decades, Noel, 68, rose through less prominent corners of the business, building credentials in retail and trading rather than the group’s flagship companies.

Chair of India’s Tata to step down after tension with controlling charity

Though rarely visible publicly, Noel spent years serving on boards across the group. Unlike Ratan Tata, one of India’s most recognisable corporate leaders, Noel largely shunned publicity despite his growing influence within the group. He emerged as a central figure only after Ratan’s death in October 2024.

Trustees unanimously appointed him as chairman of Tata Trusts and he subsequently joined the Tata Sons board as a non-executive director.

He now occupies one of the most powerful positions in Indian corporate governance.

“The job is to find the most effective allocation of the resources we have, make choices on how to deploy those resources meaningfully, and do what is best for India,” he said at an event this month.

“We must serve the purpose for which the founders of the Trusts left their shares – to improve life in India.”

Succession and listing debate

Two issues will shape the future of the 158-year-old conglomerate: the selection of Tata Sons’ next chair and whether the privately held company should eventually pursue a public listing.

Tata Motors says change of group chairman won’t affect investment plans

Tata Sons has faced pressure from minority shareholder Shapoorji Pallonji Group to pursue a public listing, while regulatory requirements could also eventually revive the issue unless the company secures an exemption.

Noel has not made public comments, but media reports said he and other trustees unanimously opposed ​listing last year. He sought clarification from Tata Sons on four to five issues, including the group’s business performance, its five-year plan, capital expenditure and the rationale for remaining unlisted, according to a source with direct knowledge of the matter.

With regard to the next chairman, his influence is likely to be decisive. While the Tata Sons board will oversee the selection process, the trusts’ control of the holding company means Noel will have a significant say in choosing a leader capable of balancing commercial ambitions with the group’s distinctive governance structure. The trusts appoint a third of Tata Sons directors, who hold veto powers over key decisions.

Retail and trading background

Noel spent most of his career away from the public eye after graduating from Britain’s Sussex University. He built his reputation within the group through retail and trading businesses rather than its flagship steel, IT and auto companies.

India’s Tata shares fall as Chandrasekaran decides to step down

He joined Tata International, the group’s trading arm, before moving to Trent, then a relatively small retail business. As managing director from 1999, he helped transform Trent into one of India’s biggest retail success stories through brands such as Westside and, later, value-fashion chain Zudio.

The success established him as a respected operator within the Tata group and paved the way for broader leadership responsibilities.

“Noel is well versed with how Tata businesses are run. In retail, many people thought how will Tata compete with the big retailers. Noel has shown it,” Sanjay Singh, a former Tata Sons executive who retired in 2019, told Reuters in 2024.

Unlike Ratan Tata, he built influence quietly and remained very private, with his office serving as the main conduit for his views and public statements, the source with knowledge of the group said.

In August 2010, Noel became Tata International’s managing director. During his tenure, the company’s turnover grew to more than $3 billion from roughly $500 million as it expanded across geographies and businesses.

He stepped down as managing director in November 2021 after reaching the group’s retirement age for senior executives but remained its non-executive chairman.

He accumulated other boardroom responsibilities across the conglomerate, including chairmanships at Voltas and Tata Investment Corporation, and vice-chairmanships at Tata Steel and Titan.

“He has kept a low profile so the outer world doesn’t know him well, but he is quintessential Tata,” Singh said.

Tata Motors is the first company in the Tata group to comment on its future plans after Chandrasekaran, 63, said on Wednesday he will not seek reappointment as chairman of Tata Sons, citing the board’s lack of backing after tensions with the charitable arm that controls the group.

His departure has raised investor worries over stability at the sprawling group.

“Tata Motors has a clear strategy and a strong management team focused on execution,” MD and CEO Shailesh Chandra said in a post-earnings call. “We will remain fully focused on driving growth and create sustained value for our stakeholders.”

The automaker recently outlined plans to invest 330 billion to 350 billion rupees ($3.46 billion-$3.67 billion) in its passenger and electric vehicle businesses between FY26 and FY30.

Chair of India’s Tata to step down after tension with controlling charity

On Thursday, Tata Motors reported an 80% drop in first-quarter profit, hurt by supply chain constraints at its luxury Jaguar Land Rover (JLR) unit and rising raw material costs. The firm said higher commodity prices hurt margins in the first quarter and warned that cost pressures would persist through the second quarter.

“The second quarter is going to hit us badly. Not just us, but the whole industry will get hit,” Chandra said, adding thatit expects commodity price pressure to persist until September-end.

JLR, which contributes about 80% to Tata Motors PV’s topline, continued to face challenges as supply constraints, including a fire at a major components supplier, as well as Middle East-related disruptions and the planned wind-down of outgoing Jaguar models weighed on volumes.

However, the company reiterated its target of achieving £1.7 billion ($2.29 billion) in cost savings at JLR over the next two years.

Tata Motors’ domestic business, which sells popular SUV models like Nexa and Punch in India, saw volumes rise 48% year-on-year in its first quarter that ended June 30, driven by strong demand for its newly launched models and electric vehicles.

India’s Tata shares fall as Chandrasekaran decides to step down

Tata Motors also said that it had not received any reports of vehicle failures linked to ethanol-blended fuel, amid debate over a contentious federal policy to cut costly petroleum imports by increasing ethanol blending in petrol.

Total quarterly revenue rose to 957.99 billion rupees on a consolidated basis, from 876.77 billion rupees a year earlier.

Analysts, on average, expected quarterly revenue of 934.28 billion rupees, according to data compiled by LSEG.

The refiner purchased 2 million barrels of Murban crude from BP, another 1 million barrels of Murban from PetroChina and 1 million barrels of Oman crude from Trafigura, they said.

Both grades are loaded and exported from outside the Strait of Hormuz.

The price for Murban delivered was about $7 per barrel above the dated Brent contract, while that for Oman delivered was about $4 to $5 per barrel, two of the people said.

India hikes fuel prices for second time in a week

The oil will arrive around early October.

The companies typically do not comment on commercial transactions.

But separate communications between industry executives, reviewed by Reuters, showed that in the preceding days, top automakers Maruti Suzuki, Tata Motors and Mahindra discussed their concerns about contamination of petrol blended with 20% ethanol, called E20.

Their data compiled the most comprehensive fuel testing done by the industry since Prime Minister Narendra Modi’s government started rolling out E20 nationwide from last year to help curb pollution and cut oil imports.

With no other petrol available since April 1, consumer concerns have grown about the impact on vehicle performance.

The carmakers’ emails show for the first time how they are privately worried about contaminants in E20, like chloride and moisture, which they say are hurting vehicles, even as they publicly back the government’s rollout of the fuel.

India’s E20 petrol rollout pushes buyers towards alternative-fuel vehicles

The Society of Indian Automobile Manufacturers (SIAM) withdrew its July 28 letter on fuel contamination after a government and public uproar over the warning, saying “some numbers” need “authentication”.

The previously unreported industry data and emails reviewed by Reuters show “multiple” automakers had already conducted extensive tests by collecting over 250 fuel samples from pumps over a year from as many as 21 of India’s 36 states and territories. They found high chloride contamination in many of the samples in 18 states, as well as high moisture content.

The executives’ emails raised no concern about data authentication.

Asked for comment on the private emails, SIAM told Reuters the data was intended only for internal circulation, discussion and validation, and collected by “very few” automakers.

Maruti, Tata and Mahindra, who were part of the SIAM internal emails seen by Reuters, account for 67% of India’s car market.

As “the testing basis and sample size were insufficient to support definitive conclusions, the communication was withdrawn” as it was sent inadvertently, SIAM said, adding it intends to undertake a proper scientific study.

Backlash on ethanol-blend fuel intensifies in India, puts carmakers in the dock

The Ministry of Petroleum and Natural Gas did not respond to requests for comment. Its minister, Hardeep Singh Puri, said on Friday that two weeks prior to receiving the letter from SIAM, India’s oil marketing companies had begun “rigorous testing” of fuel at retail outlets to check for contamination.

Only four cases of contamination were found, he said. State-run fuel retailers also said last week that extensive random and scientific tests showed “no cause for any alarm on account of fuel contamination”.

Mahindra said conclusions drawn from its executive’s emails “are completely baseless and incorrect”, industry data is limited and preliminary, and it does not see issues with E20. Maruti and Tata did not respond to requests for comment.

Auto industry met government to flag chloride concerns

E20 has angered motorists, with hundreds alleging it has reduced mileage and increased wear and tear on their cars, and triggered at least one court challenge.

SIAM had earlier said high levels of chloride are corrosive for auto parts, while high moisture levels in fuel can immobilise a vehicle immediately after fuelling.

India’s auto industry defends ethanol fuel mandate amid backlash

In the group emails exchanged among Maruti, Tata, Mahindra and SIAM, Maruti’s senior executive Anoop Bhat raised concerns on the high chloride findings saying this had been privately discussed with the petroleum ministry on July 26.

The tabulated state-wide findings shared by the industry on group emails showed they recorded chloride levels of 6 to 570 parts per million (ppm) in Rajasthan state, 1.4 to 420 ppm in the capital New Delhi and 10 to 357 ppm in Maharashtra.

The Indian government says the permissible limit is 3 ppm.

The data tables also showed moisture levels reaching 13,000 ppm in Andhra Pradesh and 12,500 ppm in Uttar Pradesh, versus a permissible government benchmark of 3,000 ppm.

While the reason for contamination is not known, SIAM said in its now withdrawn letter it had seen an increase in chloride levels since the rollout of E20 and has requested the government to direct oil marketing companies to find the root cause.

India auto lobby withdraws warning on ethanol fuel damage to revise numbers

For moisture, the SIAM letter noted, the cause could be inadequate “maintenance of the underground storage tanks and pipelines at retail outlets”.

Maruti’s Bhat wrote in his July 26 email that 1 ppm of chloride was the maximum that current fuel injectors, which transport fuel to the engine, “can tolerate”.

“Lesser than 1 ppm in E20 is also in line with international standards. Same is in line with discussion held with” the petroleum ministry, Bhat wrote.

Mahindra’s senior principal engineer of fluids technology, R. Ramaprabhu, said in emails that organic chloride is the contaminant responsible for the very rapid vehicle failures the industry is seeing and can spoil engines “within 200 km”.

“Majority cases reported immediately after fuelling … is due to organic chloride,” he wrote, adding that Mahindra has “strong evidences” of fuel sample data from retail outlets.

Mahindra’s Ramaprabhu and Maruti’s Bhat did not respond to Reuters’ queries.

The tests will screen for substances and medications prohibited under aviation regulations and will be conducted alongside training sessions at the airline’s Gurugram academy, after flights at briefing centres and offices, or at locations designated by pilots’ home bases.

Pilots at budget subsidiary Air India Express will also be tested.

Air India did not immediately respond to an email seeking comment. Existing rules require airlines to randomly test at least 10% of their flight crew for psychoactive substances each year.

Air India captain’s confirmatory drug test positive for marijuana, TV channels say

“We nevertheless now feel that it is important to go further,” Air India said in the memo, adding that the initiative was intended to uphold safety standards and provide reassurance to passengers and other stakeholders.

The move comes as authorities investigate an August 4 incident involving an Air India Airbus A320neo flying from Phuket to Delhi that suddenly lost about 300 feet (91 metres) of altitude during cruise.

The flight’s captain tested positive for marijuana in a confirmatory drug test, according to a source familiar with the matter.

Accredited investors are individuals or companies that are financially sophisticated based primarily on their annual income or net worth.

SEBI proposed widening the framework beyond alternative investment funds (AIFs) to portfolio managers and specialized investment funds.

The fund managers will be able to determine an investor’s accredited status as part of the onboarding process, replacing the current requirement for investors to be certified by independent accreditation agencies.

India’s markets regulator sees no manipulation in stock closing auction, chief says

SEBI has suggested adding another criterion for qualifying as an accredited investor based on an individual’s securities holdings. A person will qualify if they own more than 50 million rupees ($523,889.35) in securities. For corporates, the threshold is 200 million rupees.

SEBI has proposed extending the accredited investor status to people residing outside India, removing the need for a separate accreditation requirement when they look to invest in private markets and specialised funds.

The OMODA 7 arrives as a plug-in hybrid, pairing a 1.5-litre turbocharged engine with an electric motor for a combined output in the region of 341HP and 525Nm of torque. An 18.4 kWh battery pack delivers 90+ km of pure electric range for daily commuting, while the combined petrol-electric range of up to 1,250km, positioning it as a genuine do it all SUV for buyers who want electrified efficiency without range anxiety on longer trips.

Unique features such as the Stargazing Zero Gravity Seats, 12 SONY Speakers, Illuminated Front Bumper Lights, Star Rail Glide Screen, 8-Point Massage Seat, Luxury Fragrance Dispensers, and 20-inch Alloy Wheels (with a T-type spare wheel) make it one of the most comprehensive and detail-oriented SUVs available in the Pakistani market today.

At PKR 10,649,000, the OMODA 7 positions itself as a premium option in the C-SUV segment, while offering a price-lock till 31st August, 2026. The vehicle can be booked online and via 20 of Omoda & Jaecoo dealerships across Pakistan.

Backed by Nishat Group

The OMODA 7’s price reveal builds on a foundation Nishat Group has laid since August 1, 2025, when its subsidiary NexGen Auto introduced OMODA and JAECOO brands to Pakistan at a landmark event at Expo Centre Lahore, led by Group founder Mian Mohammad Mansha. That brand launch unveiled five models at once, the Omoda E5, Jaecoo J6, Jaecoo J7, Omoda 7, and Jaecoo J5, and now all these models are available in the market, exactly one year after the brand was launched.

Pakistan delivered OMODA & JAECOO’s highest first-month sales of any market globally, and the brand has since gone on to cross 10,000 vehicle deliveries in the country within its first year. Globally, OMODA & JAECOO have expanded into 64 markets in under three years and are closing in on one million total sales, with Pakistan standing out as one of the fastest-growing markets in that story.

Check out the official website to explore more about the OMODA 7 SHS-P:
https://omodajaecoo.pk/omoda-7-shs-p

The company will offer 58,049,541 shares to the public, representing 15% of its post-IPO paid-up capital.

The IPO will be conducted through the book-building method.

Under the offering, 75% of the shares will be offered to institutional and high-net-worth investors, with 25% reserved for retail investors.

Agro Processors is engaged in the manufacturing, processing and sale of edible oils, vanaspati, industrial fats, margarine, spices and sauces.

The company plans to use about 40% of the proceeds to increase its refining capacity by a third to 120,000 tons a year. Whereas sizable amounts of funding will be allocated to build a storage facility and invest in companies in biomass and solar energy to reduce costs.

PSX has experienced a strong revival in its IPO market, particularly in 2024 and continuing with significant momentum into 2026, with new listings generally showing robust post-listing performance.

The robust IPO momentum in 2026 is a continuation of a trend driven by improved macroeconomic stability under the IMF program, coupled with positive market sentiment, high liquidity, and political stability, which encourage equity investment.

Meanwhile, one Pakistani company has been removed from its FM Small Cap Index.

In the MSCI Frontier Markets Small Cap Indexes, one Pakistani company, i.e. Air Link Communications, has been added, while Biafo Industries has been deleted, stated MSCI in the note.

With the latest development, Pakistan now has 80 stocks in the MSCI FM Small Cap Index, said JS Global in a note.

Meanwhile, there was no change in the MSCI Frontier Markets Index for Pakistan.

As per JS Global, Pakistan has 109 stocks in the MSCI Frontier Markets Index.

MSCI adds 1 Pakistani co to Frontier Market Index, 3 to FM Small Cap Index 

These changes are to take effect from the close of August 31, 2026.

In September 2021, Pakistan was downgraded from its status as an emerging market, a little over four years after it was reclassified from the Frontier Markets (FM) Index by MSCI.

Back then, MSCI had said that while the Pakistani equity market meets the requirements for market accessibility under the classification framework for Emerging Markets, it no longer meets the standards for size and liquidity.

Lenovo’s revenue rose to $26.94 billion in the three months ending June 30, beating analyst expectations of $22.3 billion, as the consumer electronics hardware giant benefited from artificial intelligence-driven demand and solid PC sales.

The company swung to a net loss attributable to shareholders of $609 million from profit of $505 million last year, compared to the average analyst estimate of $589 million, according to data compiled by LSEG.

Gasoline-powered ​cars and electric vehicles imported from China are subject to hefty duties.

The US tariff on the Lincoln Nautilus, ​the main vehicle Ford imports from China, is 52.5%, Ford confirmed.

“We made this decision as soon ⁠as the policy of the administration was set,“ Ford CEO Jim Farley said, referring to the tariffs. “We knew exactly what they ​wanted to do, and we knew exactly what it meant for Ford,” Farley said in a joint interview with U.S. Commerce Secretary ​Howard Lutnick.

The U.S.-made Lincolns would be sold in the domestic market as part of a significant effort to scale up output, Farley said, although the company did not disclose where they would be produced.

Lutnick added: “Ford’s got an edge. Domestic manufacturing has an edge.”

Crosstown rival General Motors has announced ​it will move production of its Buick Envision to the U.S. from China starting in 2028.

Along with tariffs, automakers have faced ​restrictions under the Connected Vehicle Rule, which bans some Chinese technology and hardware in U.S. models. Farley said that both regulations prompted Ford to ‌make the ⁠decision, although he pointed to tariffs as the driving factor.

Ford was one of several companies requesting authorization from the U.S. Commerce Department to continue selling vehicles potentially restricted under the rule. Automakers denied an authorization, such as EV company Polestar, face bans from selling certain products in the U.S. market.

A spokesperson for the Dearborn, Michigan-based automaker said on Wednesday that, after discussions with the Commerce ​Department, it realized the Lincoln ​Nautilus no longer needed an ⁠authorization to sell in the U.S.

The company had previously said the Nautilus software was developed in the U.S. but installed into the vehicle in China, requiring government approval to continue selling it ​in the United States. Ford sold about 34,000 Nautilus vehicles in the U.S. last year.

U.S. lawmakers ​have sought to ⁠further tighten prohibitions beyond those introduced in the Connected Vehicle Rule. One such push, approved by the U.S. Senate Commerce Committee in July, would bar companies that are more than 15% owned by Chinese entities from selling vehicles in the United States. If implemented, it ⁠would prevent ​Mercedes-Benz from selling new vehicles in the U.S.

Ford said the move announced ​on Wednesday builds on Lincoln’s U.S. production base. Lincoln assembles the Navigator at a plant in Louisville, Kentucky, and the Aviator at the Chicago Assembly Plant, and ​exports both models to markets including Canada, Mexico and the Middle East.

India’s top IT services exporter, Tata Consultancy Services, slumped 3.9% and was the biggest loser on the Nifty, dragging benchmark indexes lower.

Jaguar Land Rover-parent Tata Motors Passenger Vehicles closed down 1.3%, while jeweller Titan and Tata Steel slipped 0.6% and 1.1%, respectively.

The stocks, however, ended off the day’s lows.

Chandrasekaran cited a lack of backing from the board as the reason behind his decision, following months of tensions with Tata Trusts, the charity arm that owns 66% of Tata Sons, which, in turn, controls more than 30 companies in the conglomerate.

The two sides have disagreed over a potential listing of Tata Sons, losses at Air India, the planned exit of a minority shareholder and board representation.

Chair of India’s Tata to step down after tension with controlling charity

“It’s a knee-jerk reaction as Chandra has been at the helm for a long time, however, once the new chairperson is announced, it would be back to business as usual,” said Ambareesh Baliga, a Mumbai-based market analyst.

Over the past year, the conglomerate has had to grapple with regulatory scrutiny of Air India following a fatal crash, pricing pressure at TCS and a cyberattack at JLR that disrupted production and weighed on Britain’s economic output.

A source with direct knowledge of Chandrasekaran’s decision told Reuters the disagreements were the sole reason for his resignation.

So far in 2026, TCS shares have dropped 25.6%, Tata Motors Passenger Vehicles is down 6.6% while Tata Steel has gained 3.4%. Titan shares have risen 26%.

“We have witnessed such uncertain periods for Tata Group, when Ratan Tata had taken over in early 1990s and more recently during the Cyrus Mistry imbroglio, but it has always managed to steer through. So this time it shouldn’t be any different,” said Baliga.

N. Chandrasekaran’s decision to leave in February adds to the difficulties of the 158-year-old group that faces mounting losses at airline Air India, a sharp decline in sales for its Jaguar Land Rover car business and was forced to revamp processes after a data leak at its electronics arm that affected clients Apple and Tesla.

Disagreements have simmered over recent months between Chandrasekaran, 63, and Tata Trusts, which owns 66% of Tata Sons. The two sides have clashed over issues including whether Tata Sons should be listed, the losses at Air India and how to handle the planned exit of a minority shareholder.

In February, Tata Sons — which controls more than 30 Tata companies, including IT firm TCS, Tata Motors and Air India — postponed a decision on reappointing Chandrasekaran as chairman after Noel Tata, chairman of Tata Trusts, opposed the move.

“It has been six months since that board meeting, and no resolution has been reached till date,” Chandrasekaran said in his statement.

“Tata Sons is a very large institution and there are many strategic projects that are under critical stages of execution … clarity on leadership is important for employees, investors, partners and other stakeholders,” he added.

Tata Trusts did not respond to a Reuters request for comment.

A source with direct knowledge of his decision, who declined to be identified, said the disagreements between Chandrasekaran and the Tata Trusts were the sole reason for his resignation.

India’s TCS to probe sexual assault, religious conversion allegations in western India office

Shares in TCS, where Chandrasekaran built his career, closed down 4%, while Jaguar Land Rover-parent Tata Motors fell 1.3%. Tata Steel lost over 1%.

“Under Chandrasekaran, the group has scaled profits substantially. However, some parts are also making substantial losses in areas such as Air India, digital and e-commerce,” said Deven Choksey, managing director of a Mumbai-based financial services firm.

Tata has experienced disagreement before

Over the years, Tata, India’s largest conglomerate by market capitalisation, acquired Jaguar Land Rover, British tea firm Tetley, and last year said it had agreed to buy European company Iveco’s trucks and bus business in a $4.36 billion deal. Tata also runs hundreds of Starbucks outlets as a partner of Starbucks India. Relations between Tata Sons and Tata Trusts have been turbulent

in the past and in 2016, Tata Sons’ board sacked the then-chairman after he fell out with group patriarch and charity arm’s head Ratan Tata over corporate governance issues.

Tata products, ranging from salt, tea and pulses to cars and hotels, are found almost everywhere in India.

In the last financial year, Tata Group companies had combined revenue of $185 billion. The 26 that are publicly listed had a combined market capitalisation of $277 billion as of March 31.

Chandrasekaran joined the Tata Group in 1987 as an intern at TCS and spent his entire corporate career at the IT giant, rising through the ranks to become CEO in 2009, before taking over as Tata Sons chair in 2017.

The Tata family are descendants of Persians who first landed in India in the eighth century. Chandrasekaran, widely known as Chandra, is not related to the Tata family and was the first non-Parsi chairman of Tata Sons.

Medical inflation of roughly 12% to 14% a year, according to industry estimates, puts pressure on families and prompts authorities to hunt ways to standardise pricing and coverage, said the sources, who are directly familiar with the matter.

Reform recommendations are expected by year-end from a panel of regulators, industry leaders, hospitals and the Confederation of Indian Industry (CII) group, with implementation to be rolled ut later, added the sources, who sought anonymity as the discussions are private.

“The idea is to benchmark treatment rates, agreed between insurers and hospitals, to reduce disputes and fraudulent claims,” said one of the sources.

Industry estimates suggest 10% to 15% of health claims are unwarranted or fraudulent, one of the sources said.

The chief of the Insurance Regulatory and Development Authority of India (IRDAI) chairs the panel, the sources said.

Manipal Health jumps on market debut, valuing hospital chain at $9 billion

The regulator IRDAI did not respond to requests for comment. A CII spokesperson declined to comment.

India looks to spur health insurance

India wants more of its population of 1.4 billion to invest in insurance, where such spending stands at less than 4% of GDP, as compared to a global average in excess of 7%.

It has lifted curbs on foreign investment and reformed distribution of its $130-billion insurance industry in the effort to do so.

More than 40 insurers, including joint ventures of global groups such as Lombard, ERGO and AIG, operate in India’s health insurance market, generating premiums of about 1.17 trillion rupees ($12.3 billion) in the fiscal year ended March 2025.

Just this week, lawmakers urged government action to make private healthcare more affordable, as rising costs for consumers prompt authorities to focus on health insurance.

Private hospital stays in India cost about $530 on average, as compared to $70 at public facilities, a parliamentary committee report showed last week.

Standardised tariffs and billing transparency are seen as the biggest levers to slow the rampant growth of costs over time, said one of the sources.

The reforms envisage a common health insurance product that all insurers will be required to offer alongside existing plans, aiming to standardise coverage and rates for a range of illnesses and procedures, the sources said.

Uniform list of admissible treatments

It could also include a uniform list of admissible treatments that makes coverage provisions easier for policyholders to understand.

The widely varied rates and coverage now on offer from providers prompt consumers to switch policies more often in search of the best deal.

The committee will also push for wider adoption of the National Health Claims Exchange, a platform developed by India’s health ministry and the insurance regulator, the sources said.

It would offer hospitals and insurers a common format to share claims and billing data, allowing faster settlement by speeding up verification and making prices more transparent.

“By functioning as a bridge … the common exchange can significantly speed up time to settle claims at the time ofdischarge,” said Amit Chhabra, the chief business officer of online insurance marketplace Policybazaar.

The listed bank announced the development in a filing to the Pakistan Stock Exchange (PSX) on Wednesday.

“We are pleased to inform you that pursuant to the FPT clearance received from the State Bank of Pakistan, Adil Salahuddin will assume the charge of his office as the new CEO/Director of the bank with effect from 13 August 2026,” read the notice.

It is pertinent to note that an FPT clearance, or a Fit and Proper Test clearance, is a formal regulatory approval certifying that a proposed candidate meets the criteria to assume key executive positions in a bank or financial institution.

Last month, Standard Chartered Bank (Pakistan) Limited appointed Adil Salahuddin as its incoming CEO and director.

Salahuddin brings more than 30 years of banking experience and has been associated with the Standard Chartered Group for 25 years, Standard Chartered informed the bourse in a notice back then.

“During this period, he has held various leadership roles across markets, coverage and transaction banking in different geographies. While his primary focus has been Pakistan, Salahuddin has also worked in the UAE and Saudi Arabia, gaining a deep understanding of the Middle East and African markets,” it added.

Standard Chartered Bank (Pakistan) Limited was incorporated in Pakistan on 19 July 2006 and was approved for the commencement of banking business by the State Bank of Pakistan, with effect from 30 December 2006.

The ultimate holding company of the bank is Standard Chartered Plc., incorporated in England. The bank is engaged in the banking business as defined in the Banking Companies Ordinance, 1962.

Understanding the stagflation trap

Stagflation-style conditions create a frustrating trap for currency markets The combination of stubborn inflation and weakening economic growth forces central banks into difficult policy corners. This environment generates conflicting economic signals every week. One day, a higher-than-expected inflation print suggests higher interest rates, driving currency strength. The next day, a poor manufacturing report signals economic contraction, instantly driving currency weakness.

For the euro area, the economic outlook remains undeniably fragile. Recent OECD  analysis has pointed to a weaker global growth backdrop, with Europe particularly exposed to energy-price shocks and slower demand. Simultaneously, US data draws a similarly complicated picture. Recent data published by Reuters indicates that US consumer inflation slowed to 3.5% in June. This lack of a unified global growth narrative means the traditional drivers of the EUR/USD are harder to read. Usually, strong growth and rising rates in one region propel its currency higher. Today, both regions face slowing growth and sticky inflation.

These shifting dynamics mean interest rate differentials between the US and Europe are constantly being repriced by the market. Markets broadly expect the ECB to remain cautious in July, with policymakers signaling that rates are already at an appropriate level despite renewed oil-price pressure. This leaves the EUR/USD pair struggling to establish sustainable trends. Every new economic release reshapes market expectations, causing frequent reversals rather than definitive breakouts.

The psychology of uncertainty

Indecisive markets often exert greater psychological pressure on traders than strongly trending environments. When a clear trend exists, traders can easily identify support and resistance levels to guide their entry and exit points. In a stagflation trap, the lack of directional bias leads to frustration and costly behavioral mistakes.

The most common pitfall is overtrading during range-bound conditions. Traders often chase every macro headline in hopes of catching the next big breakout. This confirmation bias forces them to see trends where only market noise exists. A better-than-expected employment report might trigger an aggressive long position, only for a dismal purchasing managers index survey to reverse the move just hours later. The fear of missing the next breakout drains capital through repeated false signals.

When the EUR/USD pair has been stuck in a narrow range for weeks, the psychological urge to force trades becomes overwhelming. Traders start dropping down to lower timeframes, mistaking short-term momentum for a fundamental shift. Experienced traders understand that preserving capital during uncertain macro conditions is often as valuable as capturing large directional moves. Patience and selective trade execution become critical. In these environments, trading less is often the most profitable strategy.

When the setup is unclear, the environment matters more

Operating inside uncertain macro environments requires more than patience. It demands a trading process that can survive false starts, headline reversals, and sudden repricing. When EUR/USD is being pulled between inflation data, growth concerns, central-bank signals, and shifting rate expectations, every part of the trading environment becomes more important.

This is where Exness can be introduced without forcing the point. In a market like EUR/USD, where the story can change from one data release to the next, CFD traders need conditions that help them stay measured. A broker cannot make the macro picture clearer, but it can help reduce the distractions around the decision itself: whether the order is placed cleanly, whether costs remain understandable, and whether the CFD trader can manage exposure without losing focus.

That matters because range-bound currency markets often punish hesitation and overreaction in equal measure. If a CFD trader is already trying to separate a real policy signal from another false move, the mechanics of the trade should not become another source of uncertainty. More consistent execution and clearer pricing can help keep attention where it belongs: on the setup, the risk, and the reason for being in the trade.

The Exness Terminal also fits this discussion through the way EUR/USD is actually traded. The pair rarely moves on one signal alone. CFD traders may need to follow the dollar, eurozone data, Fed expectations, ECB commentary, gold, oil, and equity sentiment at the same time. A single workspace for charting, execution, position management, and account controls helps keep that wider macro picture connected, which is especially useful when EUR/USD is moving sideways but the reasons behind each move keep changing.

Risk control becomes part of the same discipline. In a clean trend, CFD traders can often let the structure do more of the work. In a choppy EUR/USD market, structure is less generous. Stops are tested more often, conviction fades faster, and CFD traders may be tempted to adjust the plan mid-trade. Clear visibility over exposure, margin, and account status helps keep the trade grounded in rules rather than reaction.

The point is not that infrastructure solves uncertainty. It does not. The point is that uncertain markets already ask enough of the CFD trader. When EUR/USD is caught between two weak narratives, the platform should help preserve discipline rather than add another variable to manage.

Conclusion

Successful EUR/USD trading during stagflation is less about predicting every economic release and more about maintaining discipline while markets search for direction. The August stagflation trap will undoubtedly test the patience of macro investors and swing traders alike. Traders must approach these uncertain macro conditions with objective analysis and a strict refusal to force trades. By relying on a robust trading infrastructure that supports consistent execution, traders can navigate frustrating range-bound markets and emerge with their capital intact.

The public limited company, involved in the procurement and distribution of lubricants and petroleum products, disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Wednesday.

“The acquisition represents an important strategic milestone for the company,” HTL said, adding that the proposed depot is intended to provide the essential storage and supply-chain infrastructure required to support the planned expansion of its retail fuel station network, i.e.  HTL Stations across Sindh.

The expansion is subject to the completion of all applicable regulatory approvals and development requirements, it added.

HTL was of the view that the establishment of storage infrastructure in Sindh is significant and is expected to strengthen its operational presence in the southern region of Pakistan.

It also provides a platform for the phased rollout of its retail network in the province, it added.

Hi-Tech Lubricants Limited

“Owing to its strategic location, the proposed depot is also expected to: enhance the availability and continuity of petroleum product supplies for the company’s retail network in Sindh; improve supply-chain efficiency and reduce transportation distances and logistical lead times; support the planned addition of new retail fuel stations in the province,” it said.

Moreover, apart from facilitating volumetric growth of the company’s OMC segment, the depot is also expected to strengthen the company’s long-term geographical diversification and market presence in southern Pakistan, HTL said.

“The development of the proposed depot shall be undertaken in accordance with the applicable requirements of the Oil and Gas Regulatory Authority (“OGRA”) and other relevant regulatory authorities,” it added.

The company disclosed this in a notice to the Pakistan Stock Exchange (PSX) today.

The said land has been funded from the proceeds of the company’s initial public offering (IPO), in line with the utilisation plan disclosed in the prospectus, the notice added.

“The acquisition of land represents a key milestone in the implementation of the company’s value-added expansion strategy.

The proposed pasteurisation plant to be established on the said land is expected to enhance the company’s processing capabilities, enable diversification into value-added egg products, and strengthen overall operational efficiency and market competitiveness.”

Moreover, the notice said that the company remained committed to timely execution of its expansion projects and will continue to keep the PSX and shareholders informed of further material developments, including construction progress and installation of plant and machinery.

In July, the company approved its annual budget and business plan for the financial year ending June 30, 2027, while also giving the green light to a series of strategic expansion initiatives aimed at strengthening its value-added product portfolio and operational efficiency.

Founded in 2006 and later incorporated as a public limited company, Wahdat Poultry operates as a vertically integrated poultry business engaged in egg production, grading, packaging and distribution.

The company currently operates four automated layer farms with a capacity of around 430,000 birds, producing up to 400,000 eggs per day.