Tanvi Sharma MBA-2C Presentation on Economic Times
Biyani eyes Rs 10,000-cr revenue from food biz in 4 years The future group is eyeing around 10,000-cr revenue from its food business over the net 3-4 years with aropund 40% growth in this fiscal The group presently has 210 Big Bazaar and Food Bazaar stores. “Secret behind group’s increasing success is the creation of cost-control committee and focus on exsiting businesses without changing prices of our product,” the Future Group's Chief said.
Toyota to start production of ‘ETIOS’ World’s largest car manufacturer Toyota will be starting trial production of its much anticipated car ‘Etios’ for Indian market from next month. Toyota entered India through a joint venture with the Kirloskar Group. A sum of Rs 3,200-cr will be invested to set up its second manufacturing facility in Bangalore.
Continued……….. Over 2,000 engineers from Toyota’s Indian and Japanese operations have been working on this model from last 4 years
Tech Mahindra CEO Sanjay Kalra quits firm after six years Tech Mahindra CEO Sanjay Kalra has resigned from the firm after spending around six years in its management. Vineet Nayyar, who is the vice-chairman of Tech Mahindra will take over the operational responsibilities of CEO. Sanjay Kalra is quitting at a critical point when Satyam Computer Services and Tech Mahindra are to be merged after Satyam’s accounts are re-stated.
Oil companies set to hike prices by up to 70 paise per litre Government decontrolled petrol prices on June 26, 2010 and state-owned oil companies are all set to use their pricing freedom for the first time. The three public sector oil marketing companies (OMCs)—Indian Oil, Bharat Petroleum, and Hindustan Petroleum—will meet to work out a mechanism to peg pump prices of petrol to international prices.
Misclleneous News MukeshAmbani has been elected to World Economic Forum’s board by Foundation Board. IDBI bank has received best Public Sector bank for financing SMEs in Polaris software Banking Awards 2010. Panasonic will be investing Rs 1,400-cr in coming 3-4 years in Indian market to establish itself as home appliance major.
Continued…………. India is the largest recipient of World Bank loans in 2009-10. World Bank has provided USD 9.3 billion financial assistance to India.