Nestle has once again got into an unhealthy food controversy. Everyone would remember the maggi noodle controversy that Nestle was subjected to in 2015. It then took more than a year for Nestle to navigate the troubled waters. Again in 2021, the Company got a scare. This time an internal memo got leaked wherein the … Read more
Nestle India’s board has approved a staggered increase in royalty payout to the company’s Swiss parent Société des Produits Nestlé S.A. (The Company had in 2019 announced that it would seek approval of it’s shareholders every five years for royalty payments to it’s parent company.) Royalty will increase from current 4.5% of net sales to … Read more
Apple ecosystem the biggest blue-collar job creator for India! Since the launch of the Production-Linked Incentive (PLI) scheme for smartphones in August 2021, the Apple ecosystem has emerged as a major job creator in India. Directly employing over 150,000 individuals, it stands as the largest blue-collar employer in the country. Government officials and experts told … Read more
The United States Friday said that it continues to monitor implementation and raise concerns with India on restriction of imports of certain information and communications technology products, including laptops, tablets, and servers. In its National Trade Estimate Report on Foreign Trade Barriers 2024, the US Trade Representative (USTR) said: “Since 2021, US firms have been … Read more
British American Tobacco (BAT) has sold a 3.5% stake in ITC. The stake has been sold in a block deal. BAT has realised a total of Rs 17,491 crore from the sale. The transaction has taken place @ Rs 400/ share which is similar to the prevailing market price. Post this stake sale, BAT’s shareholding … Read more
Private equity major, Advent has sold 10% stake of Eureka Forbes (EFL). Advent had acquired Eureka Forbes from Shapoorji Group in September 2021 through a SPV, Lunolux Limited. Before this sale, Lunolux held 72.56% of EFL. 10% stake has been sold at an average price of Rs 506.06/ share totalling Rs 979 cr. Previous day’s … Read more
Whirlpool Corporation, the American parent has sold 24% stake in its Indian entity, Whirlpool of India. Stake has been sold in the open market for a total value of $468 mn. Sale happened at Rs 1,277/ per share, a discount of 4.5% to the previous day’s closing price. Purpose of the sale has been mentioned … Read more
British American Tobacco (BAT) is the largest shareholder in ITC holding 29.03% stake. It has informed that it is looking to reduce it’s stake as part of the Capital reallocation strategy. “We continue to pursue all opportunities to enhance balance sheet flexibility and, as part of this, we regularly review our stake in ITC. We … Read more