Dr Reddy’s bullish on China

    2019-06-05T13:26:30+00:00June 5th, 2019|Uncategorized|

    With incipient regulatory changes in China on Indian drug imports, Dr Reddy's Laboratories has identified about 70 products for the country to be launched in a few years and is also planning to build a new plant very close to the existing one. Erez Israeli, COO, Dr Reddy's, said the drug-maker is in the process of seeking necessary approvals from Chinese authorities for selling drugs including in oncology area there and is upgrading professional teams for the growth. He said: [...]

      Unilever Ventures leads funding round in Milkbasket

      2020-12-17T13:57:27+00:00June 5th, 2019|Uncategorized|

      Milkbasket, owned and operated by Doorstep Retail Solutions Pvt. Ltd, has raised $10.5 million in a round led by Unilever Ventures, the daily grocery delivery services start-up said this week. Mayfield India, Kalaari Capital and Blume Ventures, besides a few Indian family offices also participated in the round. Anant Goel, Co-founder and Chief Executive, Milkbasket, said: “Milkbasket is proud to be serving over 100,000 households today. While the industry is witnessing a number of players adopting our model, this funding, [...]

        Tech Mahindra opens tech centre in Missouri

        2019-06-05T13:02:01+00:00June 5th, 2019|Uncategorized|

        Tech Mahindra launched a new technology centre in St. Louis, Missouri, USA which will develop cutting edge technologies in areas like micro services, automation, artificial intelligence, security, machine learning, cloud computing, big data, data and analytics, and blockchain. This centre will create local employment opportunities and leverage the company’s learning and development platforms to help train local talent in key digital skills. CP Gurnani, Chief Executive Officer, Tech Mahindra, said: “As part of our TechMNxt charter, we are committed to [...]

          IntellaSphere to buy Mumbai firm Edgytal

          2019-06-04T13:20:43+00:00June 4th, 2019|Uncategorized|

          US digital marketer IntellaSphere Inc. said it has agreed in principle to buy Mumbai-based Edgytal Digital Marketing Pvt. Ltd operating in the same segment. Edgytal has a presence in India, the US and Canada, while IntellaSphere operates offices in the US and India. The acquisition will see IntellaSphere’s India operations merge with Edgytal India. The merged entity will be led by Edgytal chief executive officer Kirti Bhargava. Edgytal MD Aditya Mehta will join IntellaSphere US as its vice-president of business [...]

            Manipal buys 51% stake in Cigna JV

            2019-06-04T13:14:02+00:00June 4th, 2019|Uncategorized|

            Manipal Education & Medical Group (MEMG) will increase its stake to 51 per cent in health insurance joint venture with American insurance giant Cigna Corporation. Chairman Ranjan Pai is committing $71 million (Rs 500 crore) towards additional share purchase and expansion plans at a time when several Indian business groups are retreating from the health insurance sector. The name of the joint venture will be changed to ManipalCigna Health Insurance from Cigna TTK as the group is buying out the [...]

              CDPQ picks up $206mn stake in M&M

              2019-06-04T13:08:02+00:00June 4th, 2019|Uncategorized|

              Caisse de dépôt et placement du Québec (CDPQ) has picked up a 1.76 per cent stake in Mahindra & Mahindra Ltd (M&M) for $205.6 million (Rs 1,424.56 crore), marking the first investment by Canada’s second-largest pension fund in India’s automobile sector. In a stock exchange filing, Mahindra said that the M&M Benefit Trust had sold 1.92 crore shares at Rs 648 apiece to CDPQ. In addition, the investment firm bought 2.78 million shares from M&M Employees Welfare Fund. The Trust, [...]

                ID Fresh Food enters the US market

                2019-06-03T13:24:39+00:00June 3rd, 2019|Uncategorized|

                Azim Premji-backed ID Fresh Food announced its foray into the US market with filter coffee. Launched in India and UAE last year, the packaged fresh food brand has taken its ready-to-use South Indian filter coffee decoction to stores in US cities including San Francisco, Los Angeles, New York and Chicago. ID, known for its idly, dosa and vada batter, registered filter coffee decoction sales worth $0.86 million (Rs 6 crore) in India, UAE and US between September 2018 and March [...]

                  PepsiCo to invest $70mn for Uttar Pradesh plant

                  2019-06-03T13:17:33+00:00June 3rd, 2019|Uncategorized|

                  Snacks and beverages major PepsiCo India has said that it will invest $70 million to build a food manufacturing plant in Uttar Pradesh. The American global beverage firm, which aims to invest $2.1 billion in India by 2022, said the investment is a part of its strategy to expand capacity in the country's growing packaged foods market. PepsiCo said that it will invest with its local bottling partner Varun Beverages, as it plans to boost manufacturing capacity in India. The [...]

                    Great Wall Motors plans $1bn Indian investment

                    2019-06-03T13:13:26+00:00June 3rd, 2019|Uncategorized|

                    China’s largest utility vehicle maker, Great Wall Motors, is set to invest over $1 billion in India, which is expected to become the third-largest market in the world in the next three-five years. This comes close on the heels of the largest Chinese carmaker SAIC committing Rs 5,000 crore to India. Great Wall Motors has approved an India unit under Haval India to be headquartered at Gurgaon in the national capital region and the team is being put in place [...]

                      IFC to invest $35mn in Manappuram Finance

                      2019-05-29T14:01:05+00:00May 29th, 2019|Uncategorized|

                      IFC, a sister organisation of the World Bank, will invest $35 million in Manappuram Finance Limited (MFL) to help low-income households and small enterprises avail loans against their gold assets, Manappuram said in a statement. This is IFC’s first investment in a gold-loan non-banking financial company (NBFC) in India. Gold loan companies offer loans to customers and small businesses by enabling them to monetize their gold without the need for documentary proof of income. India has 23,000 tons of gold [...]