Companies belonging to the Future Group, which runs India’s largest super market chain Big Bazaar, said they have not taken any decision on selling a minority stake to any global retailer. Their comments came in response to a clarification sought by the stock exchanges into a news report that quoted Future Group founder Kishore Biyani […]
Manpasand Beverages said it has inked a distribution tie-up with Parle Products, one of India’s largest food and beverage companies, for the Western Indian market. The move comes after a similar agreement for eastern India helped Manpasand increase its reach. Through this partnership, Manpasand Beverage said, it will have access to 45 lakh outlets pan-India […]
Personal care products maker Emami Ltd reported a 12% growth in fourth-quarter revenue, but profit levels were impacted to due to a sharp increase in material costs and the write-off of a tax credit. The company posted revenue of Rs 617 cr for the quarter, but net profit fell to Rs 60 cr from Rs […]
Hero MotoCorp has launched online shop for consumers to buy genuine parts and accessories for their Hero scooters and motorbikes. The portal, www.hgpmart.com, will be run by the company directly. However, it will tap close to 100 distributors in a ‘hub and spoke’ model for fulfillment. Consumers can buy any part by following a step-by-step […]
Xiaomi, the Chinese brand, sold 2 smartphones for every smartphone sold by Samsung in Maharashtra — one of the most urbanized states in India, according to market research firm CMR. The numbers are a cause for worry for Samsung as they indicate that Xiaomi could continue to ramp up its presence in the country as […]
Information and Broadcasting minister Smriti Irani today clarified that there was no ‘ban’ on the transmission of condom ads during daytime, and that restrictions have been imposed only on ads that “objectified women”. Irani said she had already clarified the matter in response to a query by the health ministry on whether the ministry’s ads […]
Future Retail, the flagship company of the Future Group led by Kishore Biyani, reported an 81% jump in its net profit due to higher operating leverage afforded by increasing revenue and a sharp dip in interest costs. Net profit for October-December rose to Rs 183 cr from Rs 101 cr in the year-ago quarter and […]
Battery and electrical goods maker Eveready Industries India said it will float a joint venture the Wings Group of Indonesia to enter the market of fast moving consumer goods (FMCG) in India. Eveready will acquire 30% shares in the new company, with the remaining held by Universal Wellbeing Pte. Ltd, part of the Wings Group. […]
Tata Consultancy Services said it has entered into a five-year deal with long-time customer and retail chain Marks and Spencer to transform its customer experience and make it a ‘digital first’ business. “TCS will be Marks & Spencer’s principal technology partner and drive agility, intelligence, innovation and efficiency to transform the retailer’s customer experience and […]
Titan Co, India’s largest jewelry company, said its mainstay jewelry business saw retail sales that were in line with expectations for the October-December period, but there was a slight slowdown in sales to franchisees. It also said its pilot stores for special occasion ethnic wear are doing well and it may open a few more […]
Tata Global Beverages reported a 4.4% increase in revenue for the September quarter, while net profit jumped to 144 cr from Rs 127 cr in the year-ago quarter. Revenue declined marginally on a sequential basis, while net profit was higher by Rs 20 cr. The company said revenue comparisons were hit by foreign currency movements […]
Tata Chemicals Limited reported flat revenue for the quarter ended September, partly due to the impact of the GST, but net profit from continuing operations was up 52%. On a like to like basis, said the company, revenue was up 2.6%. As reported, revenue was at 3,462 Cr and net profit at Rs 273 cr. […]
Adani Wilmar, the company that markets ‘Fortune’ brand of food products in India, is all set to enter the online grocery sales business with a new e-commerce portal and app called ‘Fortune Online’. The company has hired Ahmedabad-based Infibeam to set up an app for the same. Infibeam will be responsible for developing and maintaining […]
Tata Global Beverages, the world’s second largest tea company, said it is evaluating the possibility of entering the cafe business and has launched its first pilot outlet at Indira Nagar in Bangalore. The outlet, called ‘Tata Cha’, will offer a wide variety of teas as well as snacks. “Tata Cha will specialise in serving freshly […]
Private players such as Reliance Industries and Essar — owned by Russia’s Rosneft — have tripled the number of petrol and diesel outlets in India in the last two years, and could double their market share by implementing their ongoing expansion plans, India Ratings said. From practically nothing in 2014, private players including Shell and […]
PC Jeweller, the Delhi-based jewellery chain, said it signed up Bollywood stars Akshay Kumar and Twinkle Khanna as it gets ready for a pan-India expansion. The brand, which started 12 years ago with a single shop in Karol Bagh in New Delhi, today has close to 80 outlets. Most, however, are in North India, and […]
Future Retail will pay most of the cost of its proposed Hypercity acquisition by issuing new shares, and only about a fourth will be paid in cash. The deal will put even more distance between Future, which operates chains such as Big Bazaar and Central, and other players in India’s organized retail market. Hypercity is […]
Flipkart, one of India’s top two online market places, said it saw twice as much business as part of its Big Billion Day Sale this year compared to the last. The company said it added over 3000 sellers to Flipkart Millionaire Club in a span of just five days of TBBD sale. The title is […]
The amount of money invested or committed by private equity firms in India reached an all time high in the first nine months of this year, said Venture Intelligence, a research firm tracking unlisted company financials, transactions and valuations. PE firms invested about $17.6 billion in Indian companies as of September, overtaking the previous record […]
Acharya Balkrishna of Patanjali has emerged as the latest addition to the list of the top ten richest people in India, which is still headed by Mukesh Ambani, chairman of Reliance Industries. Haridwar-based Acharya Balkrishna, age 45, rose to 8th position from 25th last year after seeing his wealth grow by 173%. He is now […]
