Unilever to Divest Ice Cream Unit, Lay off 7,500 Staff
Unilever, the consumer goods conglomerate behind household brands like Dove soap and Knorr soup, announced a significant strategic restructuring plan on Tuesday. The company will establish a separate entity for its entire ice cream division, encompassing popular labels like Ben & Jerry’s and Magnum. This move coincides with a cost-saving initiative that will result in […]
Tata Steel Board Sanctions Rs 2700 Cr NCDs Fund Raise
Tata Steel, a leading global steel producer with a market capitalization of Rs 1.2 lakh crore (as of March 19, 2024), has announced its board’s approval to raise Rs 2,700 crore through the issuance of non-convertible debentures (NCDs). This strategic debt financing move comes after similar fundraising activities undertaken by the company in the past […]
Jio Financial Services Invests ₹40 Cr in JLSL Leasing
Jio Financial Services, the financial arm of Reliance Industries, has sent ripples through the Indian leasing sector with a well-timed investment. On March 19, 2024, the company announced a Rs 40 crore infusion into its wholly-owned subsidiary, Jio Leasing Services Ltd (JLSL). This strategic move signals Jio Financial Services’ intent to become a key player […]
Lloyd Targets 50% Growth in Mass Premium Market
Havells’ consumer durables brand, Lloyd, is charting a course for significant growth in the Indian market by strategically prioritizing the mass premium segment. The company anticipates this strategic move to be a game-changer, propelling the mass premium segment to contribute a remarkable 50% to its overall growth trajectory in the coming years. Capturing the Value-Conscious […]
Zomato Launches ‘Pure Veg Fleet’, CEO on Delivery Duty
Zomato, India’s leading food delivery platform, has shaken things up with a unique initiative aimed at the country’s vast vegetarian population, estimated to be over 600 million strong. The new “Pure Veg Fleet” and “Pure Veg Mode” features cater specifically to strict vegetarian customers who prioritize how their food is prepared and handled. Pure Veg […]
Bharti Hexacom IPO Approved by Sebi
Bharti Airtel’s subsidiary Bharti Hexacom, a telecommunications service provider with a strong presence in Rajasthan and Northeast India, has received approval from the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO). This move marks a significant step for Bharti Hexacom, currently valued at approximately ₹20,000 crore, as it prepares […]
Reliance, Elephant House Partner to Expand Beverage in India
Reliance Consumer Products Limited (RCPL), the FMCG arm of Reliance Retail Ventures Limited (RRVL), has struck a strategic partnership with Sri Lanka’s iconic beverage brand, Elephant House. This collaboration aims to introduce, manufacture, market, and distribute Elephant House beverages across the vast Indian market. Expanding Beverage Portfolio and Challenging Dominance The partnership with Elephant House […]
Adani Power Denied Rs 1,300 Cr Surcharge by Supreme Court
In a setback for Adani Power Rajasthan Ltd. (APRL), the Supreme Court of India dismissed their petition seeking over ₹1,300 crore as a late payment surcharge (LPS) from Jaipur Vidyut Vitran Nigam Limited (JVVNL). JVVNL is a power distribution company owned by the Rajasthan government. A Long-Standing Power Purchase Agreement Dispute The dispute stems from […]
Tata Sons Sells 0.6% TCS Stake for ₹9,300 Crore
Tata Sons, the holding company of the Tata Group, has announced the sale of a 0.65% stake in its crown jewel, Tata Consultancy Services (TCS), for ₹9,362.3 crore (approximately $1.13 billion) as of March 19, 2024. This move comes amidst talks of a potential TCS Initial Public Offering (IPO) and has sparked discussions within the […]
Flipkart Ordered to Pay ₹10K for Cancelled iPhone Order
A recent order by the District Consumer Disputes Redressal Commission (DCDRC) in Mumbai has shed light on the importance of consumer rights and transparency in e-commerce transactions. The commission directed e-commerce giant Flipkart to pay ₹10,000 to a customer for mental harassment caused by the unexpected cancellation of their iPhone order. Case Details and Chronology […]