Sector: FMCG
Tata Consumer announces two new acquisitions
1. Capital Foods (CFPL) The Company manufactures and sells chutney, masala, sauces, noodles and soups under the popular brand names – ‘Ching’s Secret’ and ‘Smith & Jones’. Initially, Nestle was rumoured to be acquiring the Company. Finally, it’s Tata Consumer Products that has announced the deal. It’s a 100% acquisition for Rs 5,100 cr Full … Read more
Proxy advisory urges Raymonds independent directors to probe assault allegations
Gautam Singhania, the CMD had publicly announced his separation from his wife Nawaz Modi on November 13. In the aftermath, Nawaz Modi, also a board member, had alleged that she and her daughter were physically assaulted by Singhania in September 2023. On November 28, 2023, Institutional Investor Advisory Services (IIAS), an Indian proxy advisory firm, … Read more
Mahadev Betting App Scam: Dabur chairman-director duo listed in FIR against illegal syndicate
The Burman duo – Dabur Group Chairman Mohit V. Burman and Director Gaurav V. Burman – has been listed in an FIR lodged by Mumbai Police in the Mahadev betting app case. It also includes Bollywood actor Sahil Khan and 28 other accused, ANI reported. However, Dabur issued an official statement and rejected any such … Read more
How local brands like Balaji Wafers, Rungta Tea are taking the fight to big FMCG players
Regional FMCG brands are rapidly expanding to challenge national brands after outpacing them and posting double-digit sales growth in the past two quarters as inflation cools off. Brands like Rungta Tea, Balaji Wafers, Mario Rusk, and Bovonto soft drinks are among those increasing their brand visibility and diversifying their offerings after emerging stronger from pandemic … Read more
Reliance AGM today: What to expect
The 46th Annual General Meeting (AGM) of Reliance Industries Limited (RIL) is being held on Monday. The RIL AGM is a major event for the Indian business community. The announcements made at the meeting could have a significant impact on the Indian economy. Investors are therefore eagerly awaiting the meeting to hear what Mukesh Ambani … Read more
Reliance Retail raises money from QIA at double the valuation in 3 yrs
Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries (RIL) has announced raising Rs 8,278 cr from Qatar Investment Authority (QIA). Investment is raised at a pre-money equity valuation of Rs 8.278 lakh crore QIA will get 0.99% stake in RRVL on a fully diluted basis This fund raise effectively doubles RRVL’s valuation in … Read more
Raymond sells FMCG business to GCPL. Demerges Lifestyle.
Restructuring/ consolidation continues at Raymonds. It has taken further key decisions – 1. The associate Company, Raymond Consumer Care Limited (RCCL), sells FMCG business to Godrej Consumer Products (GCPL). The divested business include condom brands KamaSutra and Premium and deodorant brands Park Avenue and DS. Raymond’s condom plant in Aurangabad, Maharashtra, will continue to do the … Read more