Business Roundup # Week 10

Business this week
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Cognizant’s Headcount Drops In India

Cognizant’s headcount in India fell at the end of 2017, as more IT companies opted for automation and the need to create talent overseas, according to a report.

The US company’s headcount in India dropped by 8,000 at the end of 2017, even as the number of people it employs in the US and Europe rose, the company’s annual filing with the US Securities and Exchange Commission showed.

A/C Companies Boost Production

Air-conditioner makers are boosting output by up to 20 per cent to meet increasing demand as the weather gets warmer, reveals a report.

The warm weather in the west and south of the country has pushed demand up by 15% and companies like Voltas, LG, Daikin and Godrej see this going up to 20% this year over early weather forecasts of a harsh summer.

Raymond Targets Small Towns

Textile major Raymond is eyeing small towns in the country to expand its presence and boost its market share, according to a report.

It is forecasting a 10% sales growth from this push which was launched after a study of 1,200 towns of which the company did not have a presence in at least 800 0f them.

Bharti Airtel To Set Up Lab

Bharti Airtel is setting up a digital innovation lab in Bengaluru, says a report.

The lab will be used to work on emerging technologies such as Artificial Intelligence, the Internet of Things and Augmented Reality. The telco has identified these technologies as a big focus area, and will establish the lab under its digital innovation project, Project Next.  The company will invest 2,000 crore rupees over three years to bring digital solutions to the market.

ZTE Forecasts 20% Growth

ZTE has predicted more than 20% year-on-year growth in its India revenue this year, reveals a report.

The company is riding on the backhaul and 4G expansion by Bharti Airtel, Vodafone India and Idea Cellular, besides the $400 million wireless contract it won from Bharat Sanchar Nigam Ltd (BSNL). The Chinese telecom gear vendor would also look at trading margins to eat into market share of its European and Chinese competition in the country, as it aims to be among top two gear vendors in the country.

Xiaomi To Sell TVs From Stores

Xiaomi is planning to sell its television sets through 1,000 brick-and-mortar stores from next month, according to a report.

The Chinese electronics and software company will adopt a disruptive pricing strategy to rapidly gain market share with the aim of touching 8-10% share by year-end, company officials said. The company started India sales of its television last week through its online portal and Flipkart. Xiaomi’s 55-inch 4K Smart LED TV model priced at ₹39,999 which is less than half of the similar specification products sold by the top television makers in the country.

Nestle To Cut Salt In Maggi

Nestle is planning to cut salt content in its instant noodles Maggi by a further 10% in the next 12-18 months, says a report.

This is in line with consumer preference for healthier products, the Swiss food giant said. Over the years, the company has reduced salt in Maggi noodles by 33%. The product contributed 35% to the company’s growth last year.

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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