Department of Industrial Policy and Promotion (DIPP) gives nod to Anil Ambani for defense manufacturing.

Anil Ambani led Anil Dhirubai Ambani group got principal nod for defense manufacturing .The company got 11 licenses for its eight subsidiaries .After the approval the company needs security  approval from Home ministry to set up plants for defense manufacturing .The company plans to set manufacturing plants for Helicopters , missiles , night vision gogles among other defense products.

The committee chaired by DIPP secretary Amitabh Kant granted licenses to 32 companies including the Reliance group of companies. Meanwhile in a strategy to consoldiate its defense business Reliance group is exiting its other business like cement and manufacturing .

The group’s esteemed chairman Anil Ambani is personally overseeing the defense business. In a move to consolidate its protfolia the company acquired Pipav Defense and Offshore Engineering Cooperation . Reliance wants to make in roads in the sector with more focus on development and maintenance of defense equipments and later on into research and new product development.

 

Advertisement

Sterling and Wilson to facilitate Daimler India’s plant.

Sterling and Wilson , a Shapoorji Pallonji company bagged the contract to facilitate the commercial truck plant of Daimler India. The company would supply , install , test and commission the entire electrical solution of the plant. The plant will be located in Tamil Naidu and will be commissioned by mid of 2016.

The exact financial details of the contract are awaited .Sterling and Wilson is one of the largest facilitator of Industrial Electrical supplies and commissioning in India. The company provides mechanical , electrical and plumbing services to big industries.

In a statement issued by Prassana Sarambale, VP Business development of Sterling and Wilson  ” “Having successfully completed challenging electrical projects in the past like Terminal 3-Indira Gandhi International Airport, we are confident that our vast technical knowledge and resources will ensure us to deliver Daimler with advanced solutions for their production facility .”

JLR to be made in India, plans to double its market share.

Tata Motors newly acquired brand Jaguar Land Rover is set to build a manufacturing plant in India in order to focus on more customized products for Indian audience. The company is following the strategy of Audi, Mecedes Benz and BMW in order to increase its market share to 20% in a three year period.

The company already has a plant in Chikale Pune where it assembles the (XF,XJ, Discovery Sport and Evoque) four models available in India . The company plans to start with the manufacturing of XE sedan locally. The company also has plans to assemble more and more SUVs here and make India their Hub for Asia and other close territories.

According to Rohit Suri, President JLR India ” Local manufacture will steer our strategy. If we get more products which are competitively priced in India, we will do better. We still have exciting products like the Range Rover Sport and the Range Rover. When that happens, price wise we are still not very competitive. So, there is a huge opportunity waiting to be tapped”.

Paytm minted 300 crore this Diwali.

M-Commerce pioneer , Paytm sold goods woth Rs 300 crore this Diwali . The company backed by China’s Alibaba group sold goods ranging from mobiles phones to motorcycles and bicycles .The company launched in 2010 made a huge progress in online to offline mode which is touted to be the big next thing in the ecommerce Industry .In this model the consumers selects and pays online while get the delivery from the showroom. Th ecompany sold more than 500 Mahindra motorcycle with whom they have the exclusive sale contract and 1000 bicycles. The company was providing a whopping 25% cash back on the Mahindra motorcycles.

Company’s biggest selling category , mobile phones showed a 5 fold incrase in the sales as compared to the daily average sale. The devices were also sold in an online to offline mode as the company has made a tie up with the mobile store , the largest retail chain for mobile phones in the country.

South India was the largest shopper of Snap Deal in this Diwali season.

In a statement released by Snap Deal , South India accounted for 35-40% of the total sales done by the company in this Diwali season. The total value of the total sale made was not reveled but the company said it made ten-fold increase in the user registered with the company. The tp categories shopped were Sarees , gold and Jewellery .

According to Vishal Chadha , Sernior Vice President of Market Development the company received 12 million visits this season with 12 orders per second on the peak days. A total of 50,000 sellers posted a increase in their sales through the platform with 5,00 of them made a record fivefold increase in the sales.

BSNL gets profitable, operating revenue up by 4.16% to Rs 27,242 crores

Bharat Sanchar Nigam Limited , the Indian state run telecommunication provider posted a positive operating revenue by increasing it to 27,242 crore in the financial year which ended on March 2015.This is the highest operating revenue the company has posted in 5 years.

The company was in dire condition with an operating loss of Rs690 crore in the financial year 2013-14 . The turnaround came because  of the initiative done by the management to improve the employee and the infrastructure cost. The company reduced its employee strength from 3.25 Lakh employees to 2 Lakh employees mainly due to retirement.

According to Managing Director Anupam Srivastava “Data is part of the key strategy for the turnaround. We missed the voice bus so now our main focus is on data.” According to the financial report of the company Data was the main cash cow of the company as it contributed 10% to the overall revenues. Still the data driven was below the Industry average of 20%.

The company has a low debt strategy with 0.13 debt-equity ratio. The CAPEX will take the upward spiral by Rs4400 crores. This CAPEX will be used for Data expenditure and installation of new infrastructure in the eastern zone of the country. The company already has the lowest data tarrif in the country. Other than DATA infrastructure the company plans to invest on increasing the number of telecom towers and improve customer service by adding more call centres.

The company is planning to launch a new tower sharing enterprise and the revenues from the same will increase from the current 42% .The company has also focused on reducing the MNP(mobile number portability) by providing additional benefits to the consumers. The MNP’s decreased gradually this year as the number of people porting in were 1.57 lakhs while only 1.24 lakh people ported out.

Indigo stock outshines Jet Airways

Within 8 days of listing , Indigo airlines stock gained 36% to achieve a market capitalization of Rs10,000 crores.The company has surpassed its two listed peers Spicejet and Jet airways.The stock reached at whopping Rs 1,1680 climibing 11.9% and attaining a market cap of Rs Rs 41,287.85 crore .Initially on 10th of Novemeber the day it was valued at Rs 31,648 crore.The market cap is combined to that of Jet airways 5,100 crores and spicejet 3,482 crores.

The company has the largest market share of 37.4% as on August 31, 2015. With a fleet of 98 aircrafts, 75 of them are leased the company has been able to maintain a profitable venture from the day it was incubated.It is interting to see that the company does not partner in any loyalty or miles program provided by other airlines.

Marriott checks in at Starwood , buys the iconic chain for $12.2 billion.

Mariott international is buying one its near rival Starwood for a whopping $12.2 billion. This will take Mariott to the pole position way ahead of its any near competitior the Hilton group.The deal would be a cash and stock deal and would increase the overall Marrott’s property by 50%.It would also give them a design edge to counter young audience.With the completion of the deal Marriott would add 5500 properties with more than 1.1 million rooms around the globe.The deal would also add popular starwood brands like Sheraton, Westin, W and St Regis to Marriotts kitty.

In a call to wall street analysts Starwood CEO Adam Aron said “To be successful in today’s marketplace, a wide distribution of brands and hotels across price points is critical.It appeals to travelers wherever they may go, leverages marketing and technology spend and strengthens frequent traveler loyalty. Today, size matters.”

The group is unique in its own way as they manage franchises more as compared to individual hotels.The price of the properties is thus defined by the hotel owner while the company earns through a set percentage of the revenue.The deal would help frequent business travellers and corporate travel departments as they will have more options to leverage the loyalty programs.The deal do comes with the loyalty partnership Starwood had with various players from Travel industry.

India and UK agree on a $3.2 bn pound deal on enegry and climate change.

PM Modi and his UK counterpart David Cameron agreed on $3.2 billion pound deal on energy and climate change . The agreement comes ahead of the Paris climate summit to be held earlier next month .The two countries reaffirmed the importance of the issue of climate and energy change and stressed on global reforms in order to reduce the damage done due to increasing global footprint.The countiries also focussed on economic growth and energy security in recent times.

“The UK and India’s partnership on energy is going from strength to strength. We share world-class expertise in research and innovation. The UK’s experience in green finance and technology in particular makes us well-placed to work together to promote secure, affordable and sustainable supplies of energy and address climate change,” said UK energy and climate change secretary Amber Rudd.

“The upcoming talks in Paris will be a crucial moment in the fight against climate change and I am pleased to be able to work closely with India to ensure that the deal we secure helps to keep the below 2 degree limit on global warming within reach,” she said in a joint statement for both the countries.

The pacakge will include 3.2 billion pound of commercial agreement , joint research and initiatives to share scientific , commercial and financial policy expertise. The idea is to create a knowledge share on research, development and deployment of clean energy.

The two prime ministers also welcomed the completion of negotiations of Nuclear Cooperation Agreement and the signing of a Memorandum of Understanding (MoU) related to civil nuclear collaboration between India and UK.

Flights to Paris will be as per schedule : Jet airways and Indian Airlines.

State carriers Indian airlines and Jet airways have confirmed that flights to and from Paris will depart as per the schedule.Both carrier operate delay scheduled flights from Delhi and Mumbai respectively.The capital city of France was shaken by massive terror attacks on Friday in which more than 140 people are feared to be killed . After the attack the president declared the state of emergency.

Top travel agents in India have said that they would assist passengers who would like to cancel their travel from and to to Paris . In a statement issued by Makemytrip , the company’s chief of holiday business said that “We are closely monitoring the situation in Paris and are in constant connect with our concerned customers. While we have received queries, there have not been any cancelations. All our packages are in place as per schedule,”.Meanwhile the visa comapany VFS global has confirmed that they have not received any directive from the French government. Also not travel advisory has been issued by the Indian government agencies.