Britannia signs MoU with Greece's Chipita
Britannia Industries has invited Greek baker Chipita to make rolls, croissants, and other dough products in a joint venture to meet the demands of the home market that is becoming urbanised with every passing day.
"We've signed a non-binding MoU and are working towards formalising a joint venture. We see immense scale through this partnership, since the categories are highly scalable and are bridge products between biscuits, chocolates and fresh bakery, at competitive prices," said Britannia managing director Varun Berry.
Britannia will be holding the majority stake in the venture that will involve an initial manufacturing investment of about $11million.
HTC to stop making below-Rs 10,000 handsets from this year
HTC Corp is trimming its portfolio to half this year and will be moving out from the category that's below Rs 10,000 price bracket. The company has bigger plans in the premium market and gain a higher share by value rather than by volume.
The Taiwanese smartphone maker will also launch its virtual reality headsets in India within the next quarter, at over $950 per piece, after having delayed it by a few months.
"This year we will have only 7-8 models, staggered across the year, and only above Rs 10,000," said Faisal Siddiqui, president for South Asia at HTC Corp.
Tata Motors & Volkswagen Group partnership seems imminent
A partnership seems imminent between Tata Motors, India's largest automobile company by revenue, and Volkswagen Group, Europe's largest car maker by volume.
This merger will have a wide-ranging impact on India and other emerging markets.
The contours of the partnership, on whether it will be a joint venture or a technology tie-up, are still being worked out. The negotiations are in progress and could culminate in an announcement at the Geneva International Motor Show in March.
Haldiram's beats rivals Domino's and McDonald's with Rs 4,000 crore turnover
Haldiram's, a very popular name in desi-snacks, grew 13% and thereby clocking a combined revenue of more than Rs 4,000 crore in FY16.
Started in a small shop in Rajasthan's Bikaner, this home-grown snack manufacturer is also the market leader in traditional snacks.
"The Indian snack major is now twice the size of Hindustan Unilever's packaged food division or Nestle Maggi and larger than the India turnover of the two American fast food rivals Domino's and McDonald's put together," the report said.
N. Chandrasekaran takes over as Tata Sons Chairman
N. Chandrasekaran took over the reins of Tata Sons on February 21 at the conglomerate's iconic headquarters in south Mumbai - Bombay House.
Interim chairman Ratan Tata, 79, chaired the meeting, which has been called to mark Natarajan Chandrasekaran's "assumption of charge", as a Tata spokesperson put it.
The 53-year-old Chandrasekaran is the first chairman of the $103 billion Tata group with no family links to the Tatas, even though he has spent all his working life at one Tata company, Tata Consultancy Services Ltd (TCS).