logo
Video: Basmati Rice Sale In London Store Causes Frenzy, Triggers Backlash Over Stockpiling

Video: Basmati Rice Sale In London Store Causes Frenzy, Triggers Backlash Over Stockpiling

NDTV03-08-2025
A video showing chaos at a Sainsbury's store in East London's Whitechapel area, where shoppers rushed to buy discounted Basmati rice, has gone viral on social media. The footage depicts a frenzy of people, mostly of South Asian descent, filling their trolleys with packets of rice and grabbing multiple bags of Basmati rice while others struggle to navigate the crowded aisle. The rice was apparently a steal at 9.50 pounds per bag, prompting a massive rush.
The clip was originally shared on social media by the account UB1UB2 West London (Southall) with a caption that read, "People stockpile rice after a Sainsbury's in Whitechapel put Laila Basmati rice on sale for 9.50."
Watch the video here:
People stockpile rice after a Sainsbury's in Whitechapel put Laila Basmati rice on sale for £9.50 pic.twitter.com/fBQokKzk1e
— UB1UB2 West London (Southall) (@UB1UB2) August 2, 2025
The clip has been widely shared on social media, generating significant attention and debate. It has sparked a mixed reaction online, with some people amused by the scene and others expressing concern. Others criticised such consumer behaviour and the frenzy surrounding bulk buying.
One user wrote, "I find this kind of greedy behaviour unbearable. People are humiliating themselves over just a few pounds in savings."
Another commented, "Should be limited to 1 person then a stamp on the back of their hand that doesn't come off straight away because they will take, take, take and leave nothing for anyone else."
A third said, "What annoys me is that unfortunately, we are always gonna have selfish people, so supermarkets have restrictions in place. Only one per customer if purchasing only the rice. 3 per customer if you do a minimum of 50 pounds worth of shopping. Will stop the selfish people."
A fourth wrote, "Immigration problem aside, it is not a bad idea to stockpile something that has a long shelf life & does not go bad for a while. In cultures where rice is a staple, it is not uncommon for people to buy even a 100 kg sack of rice, store it in large drums & use it throughout the year."
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Why is smart money chasing these three blue chip stocks?
Why is smart money chasing these three blue chip stocks?

Mint

timean hour ago

  • Mint

Why is smart money chasing these three blue chip stocks?

Who owns a larger stake in India's top companies at present – Indian or foreign institutions? The latest ownership report by Motilal Oswal Financial Services (MOFSL) reveals a clear shift in market dynamics, with domestic institutional investors (DIIs) now holding a larger stake in India's leading companies than foreign institutional investors (FIIs). This changing balance of power has been steadily gaining momentum since 2021 as homegrown capital continued to flow into the market at a record pace. DIIs – comprising mutual funds, insurance companies and pension funds – poured $19.7 billion into Indian equities in the previous quarter alone, leaving FIIs far behind with investments of just $5.4 billion. While this highlights the growing dominance of domestic investors in shaping market trends, there are also instances in which the two have moved in tandem, raising their stakes in certain companies. Here are three blue chip stocks that have recently seen such dual buying interest. #1 Bajaj Finserv A part of the Bajaj Group, the company offers financial services such as financing, insurance, broking and investing. It also distributes these on digital platforms through subsidiaries and joint ventures. It is also in the business of generating power through wind turbines, a renewable energy source. Here's how DII and FII shareholdings increased in the June quarter. In April, Bajaj Finserv's subsidiary Bajaj Finserv Asset Management Company (AMC) introduced two new passive funds — Bajaj Finserv Nifty 50 Index Fund and Bajaj Finserv Nifty Next 50 Index Fund. These open-ended funds are designed to help investors grow their money over the long term by closely following the performance of their benchmark indices. They offer investors a low-cost, transparent, and efficient way to gain exposure to India's large-cap equity market. In June the company launched Bajaj Finserv Small Cap Fund, an open-ended equity scheme focused on small-cap stocks. Bajaj Finserv has increased its customer target to 250 million in the next four years, chairman and managing director Sanjiv Bajaj told Reuters, betting on strong growth in the South Asian economy. For more details, see the company fact sheet and quarterly results. #2 Mazagon Dock Shipbuilders Mazagon Dock Shipbuilders Limited (MDL) established in 1774, is a prominent shipyard in Mumbai. Initially a small dry dock, MDL has evolved into a renowned shipbuilding company. The company is among India's leading shipbuilding yards, specialising in constructing and repairing warships and submarines for the ministry of defence and commercial enterprises. It is the only Indian shipyard to have built destroyers and conventional submarines for the navy, among the first to have manufactured Veer and Khukri-class corvettes, and a lead builder of four Nilgiri-class stealth frigates. It is the only shipyard with Navratna status. Here's how DII and FII shareholdings increased in the June quarter. In June the company announced the proposed acquisition of a controlling stake in Colombo Dockyard PLC (CDPLC), Sri Lanka's largest and most well-established shipyard. The acquisition is valued at up to $52.96 million. This would mark the company's first international venture and represent a significant step in its evolution from a domestic shipbuilder into a regional maritime player with global ambitions. The company now plans to increase production capacity for larger and more advanced military vessels. For more details, see the company fact sheet and quarterly results. #3 Waaree Energies Waaree Energies is a leading solar module manufacturer with integrated capabilities across the energy transition value chain, spanning cells, inverters, batteries and green hydrogen. It's an Indian manufacturer of solar PV modules with an aggregate installed capacity of 15 gigawatt (GW) as of 31 March, making it India's largest solar panel manufacturer. Waaree has five manufacturing units across India, four in Gujarat (Surat, Tumb, Nandigram, and Chikhli) and one in Uttar Pradesh (Noida). It also has a nationwide network of more than 334 franchisees. From March to June, FIIs increased their stake in the company from 0.7% to 2.7%, while DIIs raised their stake from 2.5% to 2.9%. This could be because Waaree Solar Americas, a wholly owned subsidiary of Waaree Energies, received an order on 27 June for the supply of 540MW of solar modules – 270 MW to be delivered in 2025 and another 270 MW between 2027 and 2028. The company's board also approved the acquisition of Kamath Transformers Pvt. Ltd. for ₹290 crore. The acquisition is part of Waaree Energies' business expansion and will be completed in the current fiscal year. It will acquire 100% shareholding in Kamath Transformers for a cash consideration. In line with its growth strategy, the solar PV module manufacturer has also announced plans to expand its manufacturing presence in the US, particularly in Texas, aiming to increase capacity to 3 GW by FY26. For more details, see the company fact sheet and quarterly results. Conclusion Dual buying by domestic and foreign institutions often signals strong confidence in a company's fundamentals, growth potential and resilience. However, it is not a guarantee of future returns. Though these stocks often provide stability and good long-term growth potential, they can still experience ups and downs in the short term. It's important to look closely at a company's earnings potential, how it compares with others in the sector, and whether its stock price is reasonable, rather than blindly follow the moves of big investors. Investors should carefully evaluate these companies' fundamentals, corporate governance, and valuations as key factors before making an investment decision. Happy investing! Disclaimer:This article is for information purposes only. It is not a stock recommendation and should not be treated as such. Learn more about our recommendation services here. This article was syndicated from

Best of BS Opinion: Trump, CSR, and the machinery of Indian democracy
Best of BS Opinion: Trump, CSR, and the machinery of Indian democracy

Business Standard

time11 hours ago

  • Business Standard

Best of BS Opinion: Trump, CSR, and the machinery of Indian democracy

There's a quiet joy in tearing into a fresh croissant. The flaky shell gives way to soft, buttery folds within. Each layer is distinct, yet part of one creation. Life's big stories often feel the same. It has separate textures and flavours, each revealing something new as you peel further in. Today's writeups are a croissant of their own, with layers of law, geopolitics, economics, corporate conscience, and the mechanics of democracy, all shaped by heat and pressure. Let's dive in. The first crisp fold is legislative reform. The government's Insolvency and Bankruptcy Code (Amendment) Bill, 2025, its seventh such tweak, has been laid before the Lok Sabha and sent to a select committee. On paper, it promises faster resolutions (150 days instead of 602), group insolvency for tangled corporate webs, and a framework for cross-border cases. Yet, without more judges and resources at the National Company Law Tribunal, cautions our first editorial, these timelines may remain as aspirational as the perfect pastry rise. Peeling deeper, we find the darker layer of South Asian geopolitics. Pakistan's Field Marshal Asim Munir has made his second US visit in as many months, raising eyebrows with feckless threats about his nuclear policy. His confidence, boosted by military operations and warm words from Washington, could lead to risky missteps with India. Our second editorial highlights that India's restraint, vigilance, and fixing our own security lapses are the butter that will help South Asia rise, instead of collapsing into a charred blob. Then comes the chewy centre of trade policy. M Govinda Rao writes that Donald Trump's 50 per cent tariff blitz on key Indian export items exposes the weakness of India's protectionist turn since 2017. Shielding uncompetitive sectors won't do. Rao calls instead for liberalised trade, more FDI, and an agricultural leap akin to a second Green Revolution. Productivity, he argues, is the yeast for lasting prosperity. Meanwhile, Kanika Datta slices into corporate social responsibility (CSR), a decade after India made it mandatory. The FY24 spend of roughly Rs 17,967 crore is impressive but unevenly spread, favouring richer states and PR-friendly causes.. Without course correction, CSR risks becoming a glossy outer layer with little depth beneath. And finally, Aditi Phadnis reviews SY Quraishi's An Undocumented Wonder: The Making of the Great Indian Election, an unflinching look at the Indian election machine. From trekking to a single remote voter to battling AI-fuelled propaganda, it's a reminder that democracy, like a croissant, demands constant, careful watching. Stay tuned!

Moody's upgrades Pakistan's credit rating to Caa1 with stable outlook
Moody's upgrades Pakistan's credit rating to Caa1 with stable outlook

India Today

timea day ago

  • India Today

Moody's upgrades Pakistan's credit rating to Caa1 with stable outlook

Global rating agency Moody's Investor Service has upgraded Pakistan's sovereign credit rating by one notch, moving it from Caa2 to Caa1 with a stable outlook. This upgrade signals a marginal improvement in the South Asian nation's ability to meet its debt obligations. The decision reflects an expectation that Pakistan's fiscal and external position will remain manageable in the near term, supported by continued support from the IMF and an improvement in foreign currency reserves. While the upgrade could help Pakistan lower its borrowing costs and boost investor confidence, Moody's has cautioned that fiscal vulnerabilities, external financing needs, and reliance on multilateral support remain serious. Both ratings are still in the very high credit risk zone, meaning global investors will see Pakistan as a risky borrower.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store