MSREI Acquires Stake In KSH Infra
Morgan Stanley Real Estate Investing (MSREI) has picked up majority stake in a special purpose vehicle owned by KSH Infra, a Pune-based warehousing and industrial logistics park developer, for 350 crore rupees, says a report.
This is MSREI’s maiden logistic and warehousing investment. The global private real estate investment management arm of Morgan Stanley Investment Management and KSH Infra together plan to build additional 1.1mn sq ft in the Pune market.
KSH Infra operates two warehousing and industrial logistics parks in Chakan and Talegaon in Pune totalling about 1million sq feet, leased to blue-chip multinationals.
Mahindra Launches New SUV
Mahindra & Mahindra, the maker of Scorpio and Bolero, has entered 40,000 units compact SUV segment with its XUV 300 and challenge Maruti Suzuki’s Vitara Brezza, Ford EcoSport and Tata Nexon, says a report.
This is with an eye on regaining the lost leadership in the highly competitive Indian utility vehicle space.
The launch of XUV 300 bridges a critical gap for the company, that is, urban soft roader SUV priced between 8 lakh to 14 lakh rupees, which the likes of Maruti Suzuki Brezza and Hyundai Creta have dominated over the last three to four years.
IT Professionals May Get Better Increments
Information technology sector professionals may get better annual increments this year than last time, says a report.
They will also get more opportunities owing to growing demand in emerging segments such as machine learning and robotics, said industry association Nasscom and compensation experts. Last year, the average salary hike in the IT industry was 6-8%, according to the National Association of Software and Services Companies (Nasscom).
This year would see increments of 8-10% across the IT industry, but talent in niche technologies may get almost double the increments of an average performer, it said.
HP Eyes Premium Laptops To Lift Sales
Personal computer maker HP is betting on premium laptops to drive sales in the Indian market, says a report.
The company sees a surge in demand for devices with efficient features and better design.
HP, which launched its premium Spectre range that comprises HP Spectre Folio and HP Spectre x360 in India, said it is seeing faster growth in the premium and gaming devices than the traditional laptop segment.
Amazon Cuts Commission Charges
Amazon has reduced its commission charges as it looks to boost its sales from independent sellers and increase the number of vendors on its platform, says a report.
This move comes in a quest by Amazon to promote itself as a friendly marketplace. The commission has been cut by about 35% for prominent fashion sellers and by more than 50% on certain FMCG categories, according to sources.
Amazon has started rating fashion sellers in a bid to boost sales from independent vendors and the best performers will pay about 35% less commission than they used to barely weeks ago, a person in the know said.
Swiggy Enters On-Demand Product Deliveries
Online food ordering and delivery service Swiggy has forayed into on-demand product deliveries from local stores, in a bid to diversify its delivery services beyond food, says a report.
Called Swiggy Stores, the services will be available within the Swiggy app and will deliver products from physical stores across various categories like fruits and vegetables, kiranas and supermarkets, florists, baby care, health and supplements, pet care stores, meat stores, and pan shops among others in an hour or less.
Swiggy will use its growing delivery fleet of 1.25 lakh active delivery partners to make product deliveries, the company said.