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Business News

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    Business News Business News Presentation Transcript

    • SUBMITTED BY :
      Pushp Sambyal
      Mba – 2b
      BUISNESS NEWS (18TH OCT – 24TH OCT 2010)
    • Spice Mobility To Spend 25 Crore In Marketing 
      Spice Mobility on Sunday said it will launch nine models and invest about 25 crore in marketing and promotional activities during the festive season.
      The new handsets, to be launched in the price range of 2,000-6,000,will include basic and qwerty keypad phones.
      The company will also launch an Android-based tablet and handset, but has not disclosed the pricing yet. They are expecting good sales in the festive season (October-November ) and have offering at various price points.
    • Ranbaxy slowest in growth despite boosting sales teams
      The country’s largest drugmaker by revenues has recorded the slowest domestic sales growth rate among its peers in the first seven month of this year, despite boosting its sales force by over 50%.
       For August alone, Ranbaxy was also the only company among the top 15 drugmakers to register a single digit growth of 7.4%, less than half the industry growth of 17.4%, (IMS Health).
      Japan’s Daiichi Sankyoowneddrugmaker has rejected IMS retail sales numbers. For the year to date period, Ranbaxy’s sales growth (company’s internal sales data) has been over 16% and in particular, has demonstrated a healthy acceleration in last three months to 20% plus.
    • Britannia enters baked snacks market with time pass. 
      Britannia Industries entered the baked snacks category with its brand, Time Pass, in Bangalore on Tuesday.
      While Britannia sells salted biscuits under its youth centric Time Pass brand, the new offering will directly compete with Parles Monaco smart chips, Frito Lays Aliva and Parle Agros Hippo.
      The company will add about two variants every quarter and intends to roll out the brand nationally in a year.
      The salted snacks category is estimated to be at Rs 6,000 crore.
    • Wipro admits to performing lower than TCS, Infosys.
      BANGALORE: India's third largest IT bellwether Wipro Ltd on Friday admitted that its performance during the second quarter (July-Sept) of this fiscal was lower than industry peers TCS and Infosys Technologies sequentially and annually.
       
      A day after India's numerouno Tata Consulting Service (TCS) reported a record 11 per cent volume growth on second quarter and 7.2 per cent by Infosys Technologies a week ago, Wipro reported 6.6 per cent only.
      Returning to double-digit growth rate, TCS net profit at Rs 2,169 crore (Rs 21.69 billion) is up 32 per cent year-on-year (YoY) and 14 per cent sequentially while Infosys posted net profit of Rs 1,737 crore (Rs 17.37 billion), registering 13.2 per cent YoY and 16.7 per cent sequentially.
       In contrast, Wipro's net profit at Rs 1,285 crore (Rs 12.85 billion) is 10 per cent higher YoY but 2.7 per cent lower sequentially from Rs 1,319 crore (Rs 13.19 billion) in first quarter (April-June) of this fiscal. 
    • Future Group Ties Up With Everonn To Woo Youngsters To Retail Trade
      KISHORE Biyani's Future Group and Chennaibased education company Everonn Education have joined hands to provide training in organised retail. The 50-50 joint venture between Future Human Development (FHDL).This partnership will help create frontline workforce for the retail industry where there's a growing requirement of skilled people
      Training programmes will focus on year-long courses on visual merchandising, supply chain management & other short courses on warehousing, housekeeping, home furnishing and beauty & wellness.
       
      While the Future Group will offer its domain knowledge in retail and will offer the course methodology, Everonn Education will manage the content and provide reach through its VSAT connectivity across all the centres 
      JV will start with 3,000 students and plan to train about 25,000 next year.
    • B M Munjal Family Retains Rights To Hero Group.
      • NEW DELHI: The family led by B M Munjal and his sons, owners of the Indian promoter's stake in Hero Honda, will be officially known as the Hero Group, following the division of the $4.2 billion group. 
      • In June, the diversified group was divided on a simple principle of ending the numerous cross holdings between the families of B M Munjal and his three brothers - O P Munjal, SatyanandMunjal and Late DayanandMunjal.
    • Tcs, Infosys Plan To Hire 50,000 & 40,000 Respectively
      • NEW DELHI: With double-digit revenue growth returning to the $60 billion Indian IT-ITeS sector , top IT players, including TCS and Infosys, are stepping up their hiring plans for the next few quarters to meet the reviving demand in the US and European markets. 
      • Country's largest software firm Tata Consultancy Services (TCS) has revised its hiring plans to add 50,000 people this fiscal against earlier target of 30,000 persons. 
      • Similarly, rival Infosys has also announced plans of hiring 40,000 new employees in the ongoing fiscal, up from the earlier projection of 36,000.
      • "The IT industry is very bullish on hiring. Even if the hiring is not very substantial in the third quarter, it will definitely be in line with last few quarters," Kelly IT resources director Thammaiah BN said. 
      • According to industry body Nasscom, the Indian IT industry is estimated to have added 90,000 jobs during FY'10, taking the workforce to 2.3 million professionals. 
    • THANKS…