Godrej plans acquisitions for future growth
Godrej Group, which is eyeing acquisitions to fuel growth, Tuesday said it was expecting a 20% compound annual growth rate ( CAGR) by 2020.The company is targeting a 26% increase in its sales and is in talks to acquire the Darling Group Holdings (DGH), which operates in 14 countries across Africa selling hair extension products.As part of its growth strategy, the diversified Indian business group has been consistently acquiring firms in the hair care business, a segment where it has products in the hair colour, hair dye, mehendi and hair oil categories.
ITC confirms entry into 'Dairy' and 'Juices' category
ITC Ltd announced that the Company's Foods Division, as part of its business portfolio, launches various value added variants to augment its product range. Entry into the 'Dairy' and 'Juices' category are some of such initiatives. We would also advise that the news item under reference seems to paraphrase what has been covered in the Speech delivered by the Chairman at the Hundred and Third Annual General Meeting of the Company held in July 2014.
M&M aims to buy stake in Swedish firm
Mahindra & Mahindra is reportedly planning to takeover National Electric Vehicle Sweden AB (NEVS), the holding company that purchased assets of Saab Automobile two years ago, according to documents filed in a local Swedish court. NEVS, which ran into financial difficulties, signed a term sheet with M&M two weeks ago to begin intense negotiations. The Mumbai-based company is one of the two companies that have evinced interest in NEVS. The other company is believed to be of Chinese-origin.
Cipla arm sells its stake in Jiangsu
Cipla announced that Meditab Holdings, Mauritius, a wholly owned subsidiary of the Company, has entered into a definitive agreement to sell its entire 48.22% equity interest in Jiangsu Cdymax Pharmaceuticals Co., China (Jiangsu) to an affiliate of one of the other shareholders of Jiangsu, for a total consideration of $ 18.5 million. The closing of the transaction is subject to receipt of applicable regulatory approvals in China.
Jaguar to recall over 7,000 vehicles in USA
Jaguar to recall over 7,000 vehicles in USA; negative for the Tata Motors. Jaguar Land Rover ( JLR) will be recalling over 7,000 vehicles in USA related to two separate issues. The company would be recalling 7,000 F-Type models for wiring issue related to the passenger air bag activation module. The company would also be recalling 272 F-Type, XF and XJ sedans for a inspection of the power steering module. While the monetary costs for the recalls would not be very significant, it is sentimentally negative for the brand.
JSW Steel rises on higher production in November
Shares of JSW Steel was up nearly 2% at Rs1134 after the company announced production figures for the month of November. The stock opened at Rs1110 and touched a high of Rs1134.55 on NSE.Crude steel production for the month of November 2014 stood at 11.07 lakh tonnes , up 3% compared to November 2013, the company said in a release. Further, production of flat rolled products stood unchanged at 8.31 lakh tonnes while production of long rolled products surged 29% to 1.86 lakh tonnes in November compared to last year.
RIL forms JV with Chinese textile company Ruyi
Reliance Industries entered into Joint Venture for its Textile business with China’s leading Textile Company called, Shandong Ruyi Science and Technology ( Ruyi) to build on RIL’s existing business and its wide distribution network along with Ruyi’s technology and global reach. The JV will benefit RIL’s brand Vimal and Ruyi’s brand in India, Georgia Gullini and they plan to introduce some of the global brands of Ruyi.
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