Business Roundup #Week32

Business
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Blackstone May Put On Hold Pune IT Parks plans

The Blackstone Group may put on hold its plan to sell its IT Parks in Pune, according to a report.

The US-based global PE giant may consider pulling these assets into the upcoming REIT (Real Estate Investment Trust), along with Embassy Office Parks.

However, Blackstone is not yet concluded its discussions with global PE firm, the Xander Group, which has emerged as the frontrunner to acquire these assets following their bid, sources said. Blackstone had put its BlueRidge special economic zone (SEZ) and IT SEZ in Hinjewadi area of Pune up for sale.

Jio Second-Largest Telco By Revenue

Reliance Jio Infocomm is now India’s second-largest telecom firm by revenue market share, says a report.

It dislodged Vodafone India and is closing the gap with market leader Bharti Airtel, helped by strong performance in the rural mobile markets and aggressive pricing that has left rivals struggling.

Less than two years since starting 4G services, Mukesh Ambani-controlled Jio’s RMS widened 253 basis points (bps) on-quarter to 22.4% at the end of June, a Telecom Regulatory Authority of India (Trai) data showed.

Maruti Sticking To Same Path

Maruti Suzuki will continue to bring in models with varied body styles as it aims to cater to ‘every segment and lifestyle’, a top company official said, according to a report.

India’s largest carmaker, which has over 50 per cent market share in the domestic passenger vehicle segment, is also focusing on giving enhanced features across its model range with market moving gradually towards premium products.

The company’s strategy is keep launching varied body types — hatchbacks, sedans and SUVs, he added. He was responding to a query if the company would focus more on SUV body style going ahead as the segment is showing tremendous growth in the country.

Myntra Eyes Stores For Beauty Products

India’s largest online fashion retailer Myntra will soon foray into multi-brand brick-and mortar retailing of beauty and cosmetics products under Myntra Beauty brand, a report said.

It is looking for large spaces in malls and high streets across top cities, sources said. A top official at Flipkart-owned Myntra-Jabong said the company will enrol franchisees to run the beauty and cosmetics outlets.

Beauty and personal care is a fast growing segment for us which has been growing at 400% year-on-year. Today we have over 250 leading brands across make up, skin care, bath & body, perfumes and beauty appliances, he added.

Cognizant Set To Buy Service Provider

Cognizant will buy SaaSfocus, a provider of Salesforce consulting services, for an undisclosed amount, says a report.

This comes as the IT major looks to further strengthen its business in the Indian and Australian markets. 

SaaSFocus, which is privately held, offers digital transformation services leveraging the Salesforce platform. It has over 350 Salesforce consultants in Australia and India and the team will join Cognizant.

Pierre Cardin To Open Stores For Bags

Pierre Cardin plans to open five exclusive outlets for bags in India, says a report.

The fashion and lifestyle brand has signed a licensing agreement with Brandzstorm India to expand its offline and online presence in the country.

The ladies handbag market size in India is being pegged at 5,100 crore rupees and is expected to grow to 7,900 crore rupees by 2023, said Ujjval Saraf, managing director of Brandzstorm. Indian consumers are looking for international brands in this segment, which is why the company is investing heavily in this category, Saraf added.

Apple Hiring 5,000 New Employees

Apple has hired 3,500 people for their development centre in Hyderabad and is expected to take the number to 5,000 eventually, said a senior Telangana Government official, according to a report.

“Apple has taken 3,500 people so far for their development centre in Hyderabad. They will totally hire 5000 people eventually.

There is no time frame for that (to achieve 5,000 headcount),” Jayesh Ranjan, principal secretary, IT and Industries, said.

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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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