China’s Midea is said to make takeover approach to Electrolux

Midea Group Co. is exploring a potential acquisition of Electrolux AB, according to people familiar with the matter, a bold move by the Chinese home appliance giant to add the higher-end luxury Swedish brand despite potential political opposition. Midea made a preliminary approach in recent weeks to the white-goods manufacturer about a potential deal, said … Read more

Nestle rumoured to be in talks to acquire Ching’s Secret

As per the newspaper reports, Nestle is in discussions to acquire Mumbai-based Capital Foods Pvt Ltd (CFPL). CFPL makes the Ching’s Secret brand of spicy noodles and fusion chutneys infused with so-called “desi Chinese” flavors. It also sells Smith & Jones cooking pastes and masala mixes. The Company was promoted by the current Chairman, Ajay … Read more

Controlling stakeholder Crompton decides to merge Butterfly with itself

Crompton had acquired controlling stake in Butterfly last year. For details check here. Currently, Crompton owns 75% stake in the Company, previous promoter group 7.78%, DIIs 5.61% and balance 11.58%  by public. Crompton has now decided to merge Butterfly within itself. Consequently, there would be only one listed entity i.e., Crompton and other shareholders of … Read more

No correlation between heat wave and demand for fans, coolers and ACs

Intense heat waves and extreme weather conditions have little bearing on revenue growth of companies selling products such as fans, coolers, and air conditioners, a detailed analysis of historical data by brokerage ICICI Securities has found. “On analyzing the heat waves in past three decades (FY92-FY22) and revenue growth of summer product companies (fan, cooler, … Read more

V-Guard acquires Sunflame. Attractive pricing.

V-Guard Industries is acquiring 100% shareholding of Sunflame Enterprises Private Limited (SEPL). SEPL through its brands ‘Sunflame’ and ‘Superflame’, is one of the leading players in the kitchen appliances space in India. The Company offers a wide product portfolio including cooktops, chimneys, pressure cooker, mixer grinder and small kitchen appliances. Consideration value for 100% stake … Read more

Voltas slips 8%, hits lowest level since January 2021 on demand concerns

Shares of Voltas hit a 52-week low of Rs 883.20 on the BSE as they slipped 8 per cent in Friday’s intra-day trade amid concerns that te July-September quarter (Q2FY23) may see subdued sales numbers due to low seasonal demand. With today’s intra-day decline, the stock has corrected 35 per cent from its 52-week high … Read more

LG targets leadership position with 32% share of Indian TV market

South Korean consumer electronics major LG is targeting for a 32 per cent share of the Indian TV market in 2022, with a gain of around 5 per cent to become the number one player in the segment, a top company official said. The company is banking on its country-specific product line-up with local insights, … Read more

GIC investing significant money into ABFRL.

Aditya Birla Fashion & Retail (ABFRL) has announced raising sizeable equity investment from GIC’s affiliate, Caladium Investment Pte. Ltd. Key points to note – GIC is Singapore’s sovereign wealth fund. GIC has committed to infuse a total of Rs 2,195 crore Rs 295 crore upfront equity @ Rs 288.75/ share picking up about 1.07% of … Read more

Reliance acquires another online lingerie brand

After Zivame and Amante, Reliance Retail Ventures Limited (RRVL) has now announced acquiring Clovia, another direct to consumer (D2C) women lingerie brand. Key points to note – Founded in 2012, Clovia has previously raised a total of $22 mn from various investors. Last round was in December 2020, when it had raised Rs 14.3 crore … Read more