Business

25 Apr

Coca-Cola reports 3 billion transactions in India in Q1

Priyanka BhowmickBUSINESS, IndiaBusiness, india

Buoyed by sales of 3 billion Coca-Cola products in a country of 1.4 billion in the March quarter, global CFO and president John Murphy said on Monday that the Indian economy is "resilient with a strong job market and robust consumption". The soft drink major said it increased availability by more than 3 lakh stores in India in the first quarter, driving an estimated 3 billion transactions at the affordable point. At the beginning of the summer, the company added 40,000 coolers, The Coca-Cola Company said in its global earnings statement. “During the first quarter, the company and its bottling…

24 Apr

Esri India starts ArcGIS business analyst

Priyanka BhowmickBusiness, IndiaBusiness, india

Esri India, a provider of location intelligence software and solutions, has announced the availability of ArcGIS Business Analyst, a location intelligence solution suite designed to help organizations make data-driven smart decisions. Some of the target markets for this solution are banking and financial services companies, manufacturing companies, retail chains, insurance, real estate companies, healthcare, hospitality, transportation, logistics, etc. All such companies have business data to which a location element is attached, and using ArcGIS Business Analyst they can realize the full value of their data in decisions and gain a competitive advantage. ArcGIS Business Analyst for India will include various…

24 Apr

Reliance Retail signs joint venture with Haryana firm for toy manufacturing

Priyanka BhowmickBusiness, IndiaBusiness, india

Reliance Retail announced on Sunday (April 23) that it has entered into a joint venture with a Haryana-based company for local production of toys to meet the growing demand. Reliance Retail currently owns the British toy brand Hamless and the homemade toy brand Rowan. The new venture will cater to both toy brands, sources said. Reliance Retail is playing a major role in the B2B toys segment, operating through Rowan. "We had a JV with Circle E retailer to produce toys for vertical integration for our toy retail business," Dinesh Taluja, CFO of Reliance Retail, said during an earnings call…

22 Apr

Deloitte to lay off 1,200 employees in the US

Priyanka BhowmickBusiness, BUSINESSBusiness, india

Deloitte will cut 1,200 jobs, or 1.5% of its US workforce, the Financial Times reported. Layoffs will be higher at auditing firms in areas such as the financial advisory business, the report added. Earlier this week, Deloitte's rival Ernst & Young said it had cut staff in its U.S. arm by 5%. Layoffs from auditing firms will be even greater in areas such as the financial advisory business, which has been hit by a slowdown in merger and acquisition activity, the newspaper said.Earlier this week, Deloitte's rival Ernst & Young said it had cut staff in its U.S. arm by…

21 Apr

Mesa School raises INR 34 Cr startup leadership programme

Priyanka BhowmickBusiness, IndiaBusiness, india

In a funding round led by Mesa School of Business Elevation Capital, INR raised Rs 34 crore with the participation of angel investors like Kunal Shah, Vidit Atre, Abhiraj Bahl and others. The startup is looking to deploy incoming funding to develop a curriculum and deliver it to a founding cohort of 60 students in partnership with startup leaders and potential future employers. Ankit Agarwal and Varun Limaye founded the Mesa School of Business in 2023 startup leadership began offering a 12-month, full-time PG program. At the end of the program, startups claim that students will get opportunities for leadership…

21 Apr

Amazon to expand office supplies business after pandemic sales surge in Europe

Priyanka BhowmickBusiness, BUSINESS, IndiaBusiness, india

In Europe, the business first launched in Germany in 2016, followed by Britain in 2018 and Italy, Spain and France in 2018.Amazon's business clients in the region include Centrica, Siemens Gamesa and ABB, the company said, and it offers IT and healthcare equipment and school products. Amazon declined to say which countries it would target next. It's spending time for European companies to buy things like office chairs, desks, paper and printer ink in bulk, Gagnon said, with the goal of winning contracts to supply them. The business offers potentially higher margins than Amazon's core consumer business, as it's cheaper…

13 Apr

Radisson’s luxury brand Radisson Collection arrives in India

Priyanka BhowmickBusiness, IndiaBusiness, india

Radisson Hotels Group on Wednesday announced its entry into India by signing its luxury lifestyle brand "Radisson Collection" at its first hotel in Hyderabad. The company says the 300-room hotel is close to the city's financial district, which houses business centers, IT parks and special economic zones (SEZ). The hotel will be operational by the second quarter of 2026. Launched worldwide in 2018, Radisson Collection is currently operating and developing more than 50 hotels across the UK, Germany, Italy, Spain and Türkiye.Ellie Younes, Executive Vice President and Global Chief Development Officer, Radisson Hotels Group, said, "India is one of our…

12 Apr

LIC hikes stake in 4 Adani stocks

Priyanka BhowmickBUSINESS, BusinessBusiness

While mutual funds reduced their stakes in Adani group companies, the country's largest investor in the public market - Life Insurance Corporation of India (LIC) - increased its stake in four group stocks amid a sell-off crisis in the March quarter. A damning report by US-based short seller Hindenburg Research. In the March quarter the insurer increased its stake in four of the six companies - Adani Green Energy, Adani Enterprises, Adani Total Gas and Adani Transmission, while it reduced its stake in two others - Ambuja Cements and Adani Ports and Special Economic Zone. Shareholding in ACC remained the…

11 Apr

BoB Q4 loans rise 19%, deposits grow 15%

Priyanka BhowmickBusiness, IndiaBusiness, india

Public sector lender Bank of Baroda's (BoB) progress in FY23 grew by 19 percent on a year-on-year (YoY) basis, higher than the nearly 15 percent growth in the banking system for the financial year. In absolute terms, advances rose to Rs 9.73 trillion by the end of 2023 from Rs 8.18 trillion at the end of March 2022, according to a BSE filing. BoB deposits rose 15.1 percent YoY to Rs 12.04 trillion at the end of March 2023. This pace was higher than the 9.6 percent annual growth in banking system deposits Sequentially they rose 4.7 percent to Rs…

10 Apr

Denver ropes in Varun Dhawan as its brand ambassador

Priyanka BhowmickBusiness, IndiaBusiness, india

Denver is on the way to launching a campaign featuring the actor to connect with its target audience and increase the brand's reach all over India. Commenting on the association, Varun Dhawan said in a statement, “I am thrilled to announce my association with Denver, a brand I have always admired for their commitment to delivering the best. Working with the energetic team at Denver Face Wash has been a great experience, and I'm excited to be a part of their growth journey.” Saurabh Gupta, Sales Marketing Director, Vanessa Care added, “Partnering with Varun Dhawan presents an exceptional opportunity for…