JLR Investing In Pune Plant
Jaguar Land Rover (JLR) by investing in an engine assembly and manufacturing line at the Pune plant, to boost its presence Indian luxury-car space, says a report.
The Tata Motors-owned company, an also-ran in the Indian market for long, has broken into double digits in market share for the first time last financial year, thanks to a price correction. The additional investment in the local market will help it compete strongly against German rivals — Mercedes-Benz, BMW and Audi.
Manpasand Eyes Major Push
Manpasand Beverages is mulling an aggressive expansion across India and abroad and also enhance its production capacity, a report said.
This will come after the company, makers of Mango Sip fruit drink,
stitches an ambitious distribution pact with Parle Products for the domestic market. The company is also looking to expand into other countries including those served by global beverage giants as consumers globally are shifting to health-focused beverages and the market is growing exponentially, a top official said.
Auto Industry posts double-digit growth
The automotive industry continued its double-digit growth run in June as higher demand for new offerings drove passenger vehicle sales, according to a report.
Strong goods movements helped new fleet addition in the commercial vehicle segment as well. Five of the top six carmakers posted a growth in excess of 20 per cent, and the top six carmakers, which account for 90% of the passenger vehicle market, saw a cumulative sales growth of 43%. The commercial vehicle sales too are estimated to have registered a growth of over 40%.
Reliance Retail Enters Fashion Wholesaling
Reliance Retail is entering wholesaling of fashion and lifestyle products through both offline and online channels, reveals a report.
This is part of the company’s to tap the largely unorganised bulk business of garments and accessories. The wholesale business will primarily target millions of small and medium retailers nationwide to supply products in bulk, including its own branded material, sources said. It plans also to service customers through a B2B portal.
Hyundai To launch EVs From Chennai Plant
South Korean auto major Hyundai plans to roll out electric vehicles from its plant in India, according to a report.
The city is set to become one of its global regional headquarters with more responsibility for local long-term planning, a senior company official said. Hyundai Motor India Ltd, which has sold 8 million vehicles cumulatively in the country in 20 years of operations, is also targeting to cross the 10 million milestone in the first quarter of 2021.
Jio Claims Second Spot In Revenues
Reliance Jio has taken the lead from Vodafone India to become the second largest carrier by revenue in the Indian telecom space, reveals a report.
It has generated revenues of 6,217 crore rupees in the quarter ended March 2018, up 15% on-quarter. The new entrant has also quickly narrowed the gap with leader Bharti Airtel whose revenue was 7,087 crore rupees, down about 10% on-quarter, as per data from the Telecom Regulatory Authority of India (Trai).