The CMD has shared the following – Havells India is going to venture into electronic manufacturing service (EMS) or contract manufacturing space for appliances such as air-conditioners and washing machines to cater to the increasing demand of global brands to have an Indian manufacturing base (and hence reduce dependence on China). On a pilot basis, … Read more
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
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
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%Â 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
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 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
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
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
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