Aim to triple revenues in 5-6 years: Havells

Confident of tripling revenues by FY20 to about Rs 20,000 crore in the next 5-6 years through both inorganic and organic play said Anil Rai Gupta, CMD, Havells. He said GST contracted demand for most of their segments and this sluggishness could continue in Q3 as well. we believe that we have either retained or gained market shares in every category said

Paytm mall to offer accidental damage cover to smartphones

Paytm Mall today said it will offer smartphone buyers 'Mobile Protection Plan' to safeguard their devices against accidental damages. This plan will offer year-long coverage against accidental damage including screen...

TRIGO Boosts “Make in India” Initiative in Aerospace

TRIGO Group has started its aerospace cluster development program in cooperation with the Confederation of Indian Industry to uplift India's small and medium enterprises' quality standards and production. The goal of...

Raymond to replace 10,000 jobs with robots in next 3 years

Textile major Raymond is planning to cut about 10,000 jobs in its manufacturing centres in the next three years, replacing them with robots and technology. Explaining the move, Raymond CEO Sanjay Behl said the company employs over 30,000 staff in their 16 manufacturing plants in the country. "Roughly 2,000 work in each plant to scale down the number of jobs to 20,000, through multiple initiatives in technology. One robot could replace around 100 workers. While it is happening in China at present, it will also happen in India," he said, adding that the sector was very manpower intensive.

In textile sector good news for India is that due to rising labour costs,...

For several years, India has enjoyed the position of being the second largest producer exporter of textiles in the world largest being China. The good news for India is that due to rising labour costs, China is gradually losing its competitive edge. Other factors contributing to the downfall of China’s textile exports include appreciating currency value, rising material & energy costs and a high focus on the domestic market. The decline in China’s market share in textiles provides an opportunity for India to excel in this sector.The Technology Upgradation Fund Scheme is anticipated to render a growth of 11.5 percent in cloth production, 15 percent in value exports and an additional employment of almost 15.81 million workers.

British Nutritions Launches Completely Balanced Nutritional Protein Supplement for the Entire Family

A British Nutritions company, announced the launch of unique nutritional supplement for the entire family 'B Sure' at JP Cordial hotel, Bengaluru. "In our mission towards the wellness of the...

Dilip Buildcon to sell road assets to Shrem for ₹1,600 crore

Dilip Buildcon Ltd, a Bhopal-based road developer, has announced the sale of 24 road assets of a total project value of ₹10,500 crore to the Chhatwal Group.The deal, which could emerge as one of the largest in the sector, is estimated at ₹1,600 crore.The road developer has invested a total of ₹682 crore (both in equity and debt) while ₹841.6 crore is yet to be invested.

Infosys Rs 13,000 cr buyback to open on Nov 30

India's second largest IT company Infosys  said its Rs 13,000-crore buyback offer will open on November 30 and end on December 14. Outlining the buyback dates in a regulatory filing,...

Oracle Financial Services Software Ltd Aim to Grow 10-Fold in India By 2020

Global software and Cloud major Oracle is expecting a phenomenal 10-fold growth in its India businesses by 2020 as the country holds an enormous market opportunity for its bouquet of Cloud services, a top company executive has said. “Cloud will be an enormous market opportunity for us in India. My expectation is to become 10 times the size we are now in India by 2020. Actually for us, it is the single largest growth potential country,” Oracle Global CEO Safra Catz said at the ongoing Oracle OpenWorld (OOW) 2016 conference here. Catz, who visited India in April this year, promised $400 million worth of investments in the technology hub Bengaluru, with announcing the first “Oracle Startup Cloud Accelerator” in the city. She also announced nine regional software and technology incubation centres across the country and an initiative to train over 500,000 Indian students every year. Oracle has been in India for over 25 years and during that time we’ve grown our investments tremendously. In fact, India now represents our second largest employee base outside of the US, with nearly 40,000 current employees and an additional 2,000 current job openings.

SBI extends Rs 2317 crore for 43 solar power projects

The seven companies include Adani Group, JSW Energy, Hinduja Renewables, Tata Renewables Energy, Azure Power. Cleantech Solar and Hero Solar Energy. The bank has outstanding loan of Rs 12000 crore to solar energy projects and bad loans are negligible in this sector. Aggregate capacity of 475 mw by availing a line of credit from World Bank. Rajnish kumar chairman.

By 2020, Yes bank will be the top three credit card with 15-18 %...

“ By fiscal year 2020, we will be the top three credit card players of the country with 15-18 % market share,” said Pralay Mondal, senior group president of retail and business banking of Yes bank. Yes Bank will be offering interest rate of minimum 1.2% per month on its credit cards for which high networth customers are eligible. The industry average stands at 3.4% per month. As on March 2016, there are 24.50 million credit cards in the country with HDFC Bank Ltd. leading the chart at 7.28 million, followed by ICICI Bank Ltd at 3.65 million and SBI Bank Ltd at 3.62 million. Mondal said that “market share is skewed which provides opportunity for us. The current credit penetration is 2% in the country which is expected to be 5% in next five years. The incremental 3% growth provides huge opportunity for new players like us.

Biyani is looking to take FMCG revenues from Rs 1,800 crore to Rs 20,000...

Biyani said that his group looking FMCG revenues from Rs 1,800 crore to Rs 20,000 crore by 2021 and 70 per cent of FMCG sales will come from his own brands.Future Consumer Limited India’s first sourcing-to-supermarket food company by Future Group. Under FCL’s spectrum, the company sources best quality commodities from world over, comprises of extensive portfolio of established brands in food and HPC space.