Moving forward,by investing a sizeable amount of capital to expand production capacities and producing value added products, the Company aims to increase the share of retail sales to 70% from a current 32% of its turnover in 3-4 years. Just recently, Kohlberg Kravis Roberts (KKR), one of the largest Private Equity firms globally, showed their faith in our story by supporting us upto Rs. 520 crore through structured debt. This is a strong validation of our transformation strategy and our long-term goals to shift our business model towards the retail segment and become a foods company with dominant brands. We believe that this relationship would evolve over a period of time.
76 percent of the home loan market is now below Rs 25 lakh and our average ticket size as a company for home loans is Rs 24 lakh said Gagan Banga, Vice Chairman & Managing Director. Continue to grow at between 35 percent and 40 percent and book will grow by around 30-31 percent and home loan specifically will grow between 35 percent and 40 percent, said Banga. ( Moneycontrol )
Life Insurance Corporation (LIC) of India has acquired 2.021% stake in FMCG( fast moving consumer goods ) firm Colgate Palmolive India through open market purchase, taking the total holding in the company to 7.037%. The Insurance behemoth earlier had 5.016% stake in Colgate Palmolive India,the FMCG company said in a regulatory filing. LIC has acquired additional 54,97,334 shares in the company and now has 1,91,40,291 shares. It earlier had 1,36,42,957 shares in Colgate Palmolive India.
Reliance Industries is the first Indian company to touch ₹6 trillion market-cap. RIL stock got a further push as Jio, its telecom arm, recently hiked tariffs earlier than anticipated. The stock added nearly ₹3 trillion market-cap since April after its telecom arm Reliance Jio started charging its customers.
Equipment renting services Company provides bespoke solutions in the development and construction of infrastructure and real estate The Company has a large fleet of branded equipment which includes: tower cranes, passenger cum material hoists, boom placers, transit mixers, dumpers, excavators, and framework development of buildings/structures. The Indian management and maintenance market is estimated to grow at 17 per cent and cross USD 19 billion mark over the next five years. “The swiftly growing services sector is creating huge potential for FM services, which is anticipated to grow at a CAGR of around 17 per cent during 2015-2020 and reach to approximately USD 19.4 billion by 2020,” the report by Global Infrastructure Facilities and Project Managers Association (GIFPMA) said.
Mobile data traffic in the country is expected to grow the fastest globally at 15 times by 2021, according to a report. The country also grew the most in terms of net additions in mobile subscriptions during the March quarter at over 21 million, followed by Myanmar and Indonesia with 5 million net additions each and US and Pakistan with over 3 million net additions each, the Ericsson Mobility Report said. Between 2015 and 2021, the number of IoT connected devices is expected to grow 23 percent annually, of which cellular IoT is forecast to have the highest growth rate. Of the 28 billion total devices that will be connected by 2021, close to 16 billion will be IoT devices, the report said.
Global direct selling major Amway has been asked to remove two of its products from sales by the apex consumer commission, which also slapped a fine of 1 lakh rupees on it for allegedly wrongly branding its products. The National Consumer Disputes Redressal Commission (NCDRC) asked Amway India Enterprises Pvt Ltd to remove Amway Madrid Safed Musli (Apple) and Kohinoor Ginger Garlic Paste from the market within six weeks.
Maruti Suzuki would look to achieve annual sales of 2.5 million cars by 2023 once it achieves the milestone of 2 million cars per year by 2020, Chairman RC Bhargava. Maruti Suzuki, a 56.21 percent subsidiary of Japan’s Suzuki Motor Corporation, sold 1.56 million vehicles (domestic plus export) in the last financial year. During the first seven months (April-October) of the FY18, India’s largest passenger carmaker sold 1,033,135 vehicles
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.
“ 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.
Vedanta profit up 43% in Q2. Revenue was 21,590 crore, up 37% from a year before. " Key contracts on our announced oil& gas projects are at advanced stages of being awarded and the next two quarters will see an increased trend of protection from this business" Kulidip kaura, chief executive. Free cash flow of 3,280 crore in the September quarter Gross debt reduced by 11,466 crore to 55,798 crore.