Business Roundup #Week16

Business
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Lotus Herbals Eyes Acquisitions

New Delhi-based personal care and cosmetics brand Lotus Herbals has begun scouting for acquisitions and is in talks with investment bankers to identify potential targets, says a report.

The company has been wooed aggressively by large companies including L’Oreal and Dabur. “We are open to mid-sized acquisitions now and are approaching investment bankers.

We’ve just started the process and have an inorganic strategic plan for mid-sized acquisitions, which could be in India or overseas, as long as it contributes tangible value to our business,” Nitin Passi, joint MD of Lotus Herbals, said, adding that the company has identified potential targets but they are unwilling to sell out at this point.

Porsche Plans To Boost Volumes

Luxury sports car maker Porsche is targeting additional volumes in India with an affordable version of its SUV Macan, says a report.

The company plans to bring in two variants of the next generation Macan to the country, with the entry-level trim expected to attract newer set of customers to its fold with a lower price tag.

It will launch the new Macan in June-July at a competitive price.

Strong Ratings For IPL

The 12th season of the Indian Premier League (IPL) continues to deliver strong ratings on TV, broadcaster Star India said, according to a report.

As per BARC India data provided by the broadcaster, in the first two weeks, IPL 2019 has clocked an average viewership growth of 21% over last year for first 17 matches, while the reach has gone up by almost 14%.

Upgraded Maruti Alto To Cost More

Maruti Suzuki India (MSI) has upgraded its hatchback Alto K10 with various safety features leading to a price increase of the model by up to 23,000 rupees in Delhi/NCR.

The model now comes with various safety features like ABS (anti-lock braking system) with EBD (electronic brake force distribution), driver airbag, reverse parking sensor, seed alert system, driver and co-driver seat belt reminder.

Growth Rate Of Utility Vehicles Hit

Sales of utility vehicles (UV) hit speed bumps in FY19 with sub-optimal 2% growth after two straight years of high double-digit rates of expansion, says a report.

This raises question marks on the immediate prospects of a market segment where up to 36 new models are planned in the next couple of years.  Growth was tepid despite eight new mainstream vehicle launches and two product facelifts.

The launches, however, helped the segment expand even as persistent increases in fuel prices and financing costs caused other segments of the auto market to shrink.

Decathlon Clinches Top Revenue Spot

French sporting goods retailer Decathlon has garnered more revenue than older local rivals such as Adidas, Nike or Puma in FY18, says a report.

This was fuelled by broader awareness about fitness in the country and adoption by the average Indian of sporting disciplines other than cricket. With revenue of 1,278 crore rupees for the year to March 2018, Decathlon has also become India’s second-largest single-brand retailer after Xiaomi.

It also made a profit of 33.8 lakh rupees, the first in India for the retailer that began operations in the country about a decade ago.

Scooter Sales In the Red

A 25 per cent fall in dispatches in March has pulled the scooter market’s annual sales in the negative terrain for the first time in the past decade, says a report.

Slowing urban consumption and rise in cost of ownership during FY19 forced many prospective buyers to either defer the purchase or opt for more fuel-efficient motorcycles, said industry players.

The segment registered a slide for six months of FY19 and March was the fourth consecutive month of decline. According to data released by industry body Society of Indian Automobile Manufacturers (SIAM), total scooter sales for the recently concluded financial year stood at 67.01 lakh units, down marginally from 67.19 units in FY18.

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Babu Kalyanpur

Babu Kalyanpur, ( Consulting Editor) has rich experience in both sports and business journalism. Babu has led news desks in Pune and Bahrain and writes extensively on his passion, sports and business besides current affairs and matters of importance to Pune.

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