Brands
Mankind Pharma rolls out PetStar Delight for India’s cats
MUMBAI: Mankind Pharma has broadened its paws in the pet care space with the launch of PetStar Delight, a new cat food range that pushes the company beyond its dog-focused beginnings and into India’s booming feline market.
The move lands at the right moment. India’s cat food category is now worth about Rs 1,500 crore and is climbing steadily with monthly sales of Rs 120 crore and annual growth of 18 to 20 per cent. Pet parents are spending more, reading labels more closely and looking for brands that blend science with taste.
PetStar Delight aims to tick all those boxes. Manufactured in Thailand to stringent quality standards, the range uses a clean label with no artificial colours or preservatives. Each recipe is packed with functional ingredients such as cranberry for urinary health, turmeric for immunity and digestion, and taurine for vital organ support. Three crowd-pleasing flavours feature on the menu: salmon, tuna and ocean fish.
Nutrition has been tailored by life stage. The kitten formula offers 32 per cent protein and 12 per cent fat for energetic growth while the adult variant carries 30 per cent protein and 10 per cent fat to support long-term wellbeing.
Mankind Pharma vice chairman and managing director Rajeev Juneja, said the expansion builds on the company’s early success in dog nutrition. He noted that the PetStar brand was launched in 2022 and has since grown with a focus on quality, affordability and wellness.
Vice president and head of the Pet Food Division Piyush Prashant, added that the new range borrows from the same disciplined approach that shaped PetStar dog food, which is manufactured in the UK using European ingredients and BRCGS standards. Beyond the basics, PetStar Delight features prebiotic beta-glucans and MOS for gut health, natural fibre for hairball control, salmon oil for brain development, choline for nerve health and yucca extract to reduce stool odour.
The range comes in 400g, 1kg and 2.8kg packs. The 1kg bag is priced at Rs 399 for kittens and Rs 375 for adults and will be available across India.
With PetStar Delight, Mankind Pharma strengthens its position in the pet care sector, hoping to charm a fast-growing community of cat owners who want nutrition backed by science and delivered with flavour.
Brands
Microsoft faces worst quarter since 2008 financial crisis
Cloud giant battles soaring AI costs and fierce competition from nimble startups.
MUMBAI: When the tech titan starts looking a little wobbly, even the Magnificent Seven can feel the tremors because Microsoft is currently starring in its own sequel, “Clouds and Doubts.” Microsoft is on track for its worst quarterly performance since the 2008 global financial crisis, according to Bloomberg, as investors grow increasingly uneasy about rising capital expenditure and intensifying competition from nimble AI firms. The company has been pouring money into AI infrastructure, yet markets are questioning when these hefty investments will finally deliver stronger revenue growth.
At the same time, investors are shifting away from traditional software stocks amid fears that AI startups such as Anthropic and OpenAI are developing autonomous agents capable of replacing established products, including those from Microsoft. Jonathan Cofsky, portfolio manager at Janus Henderson Investors, noted growing concern that customers may bypass Microsoft and deal directly with AI vendors, potentially disrupting its core business and putting pressure on pricing and margins.
Microsoft’s stock has tumbled 25 per cent in the first quarter, putting it on course for its largest drop since a 27 per cent fall in the fourth quarter of 2008. It has also emerged as the weakest performer among the so-called Magnificent Seven technology stocks, while a broader index tracking the group has fallen 14 per cent over the same period. The shares slipped a further 1.7 per cent after markets opened on Friday, marking a potential fourth consecutive session of declines.
Cofsky pointed out that Microsoft has become more capital intensive and that improved investor confidence will hinge on assurances that software growth will not slow materially. Despite the sell-off, the stock is now trading at less than 20 times projected earnings over the next 12 months, its lowest valuation level since June 2016. Its valuation remains slightly above that of the S&P 500 Index, although it has recently traded at a discount to the broader benchmark for the first time since 2015.
Bloomberg data shows Microsoft’s capital expenditure, including leases, is expected to surge to $146 billion in fiscal 2026, up around 66 per cent from $88 billion in fiscal 2025. Spending is projected to climb further to $170 billion in fiscal 2027 and $191 billion in fiscal 2028, based on average estimates. Investors are growing cautious about such levels of spending without clearer signs of stronger growth.
Microsoft’s Azure cloud division has reported a slight slowdown in growth compared with the previous quarter, while its Copilot AI product has seen limited user traction, prompting internal changes aimed at improving performance. Ben Reitzes, an analyst at Melius Research, warned in a March note that Microsoft’s upside in Azure could be constrained as the company works to address challenges related to its AI models and Copilot offering, adding that these issues are unlikely to be resolved in the short term.
Of the 67 analysts covering Microsoft, 63 maintain buy ratings, three hold ratings and one a sell rating. The average 12-month price target of $592 implies a potential upside of more than 64 per cent, the highest on record based on data going back to 2009. The stock is also trading below its 200-day moving average by the widest margin since 2009.
Reitzes suggested the dominance of buy ratings may indicate complacency among analysts, while highlighting risks in Microsoft’s productivity and business processes segment as well as its More Personal Computing division. In contrast, Tal Liani of Bank of America reinstated coverage with a buy rating, citing durable multi-year growth prospects across cloud and AI. Jake Seltz, portfolio manager at Allspring Global Investments, maintained that Microsoft retains strong long-term value and that its AI strategy is likely to be validated over time, viewing near-term concerns as a potential opportunity for longer-term investors.
The report highlights a growing divergence in market sentiment, with optimism around long-term AI potential weighed against immediate execution risks and investor uncertainty. In the world of big tech, even the mightiest clouds can have silver linings but right now, Microsoft’s investors are scanning the horizon for clearer skies.
