Business Roundup # Week 30

Business this week

Bajaj-KTM Eye Ducati

Bajaj Auto and its Austrian partner KTM may combine to acquire bike-maker Ducati, according to a report.

KTM is closing in on the Ducati brand, which is on sale by Audi. The deal may be struck within weeks.

Jio Boost

Mobile operator Reliance Jio Infocomm has cornered about nine per cent of all active mobile phone users in the country, says a report.

It added that this happened at the cost of smaller telecom operators like Telenor, Aircel, Reliance Communications, Tata Teleservices and Sistema. Vodafone and Idea saw their active subscribers decline 0.1 and 0.4 respectively in the first two months of the new fiscal. Meanwhile, Jio’s new phone will be available in the market by September.

TVS Motor Sales Rise

TVS Motor has overtaken HereoMotorCorp in scooter sales in the fiscal first quarter, according to a report.

The company grew more than 35% when the segment volume at the two-wheeler market leader fell marginally. Honda Motor remained at the top will a lead which was nearly three times more than TVS Motor.

Hyderabad in Demand

IT hubs Bengaluru and Hyderabad remain the most active office markets in the country in the second quarter of this year, says a report.

According to property consultants JLL India, Bengaluru and Hyderabad did well despite IT layoffs and poor business sentiment. The two cities accounted for 47% of the total office space leased among the country’s top seven cities in the period.

Alibaba in Fray

China’s Alibaba has joined Paytm Mall to acquire a stake in BigBasket, according to a report, quoting sources.

In another development, BigBasket is holding talks with Singapore sovereign fund Temasek Holdings and China’s Fosun Group over fundraising. The Alibaba-Paytm Mall consortium has started due diligence and offered to invest $200 million in BigBasket at a valuation of nearly $900 million post the investment, the sources added.

 McDonald’s Move

Ignoring its healthy meal campaign, McDonald’s is planning to offer sweets, croissants, muffin tops and a new sundae-topping station, says a report.

The fast food chain is changing track to attract more mid-afternoon customers as the period between lunch and dinner is usually dull. Only 55% of customers show up between 2pm to 5pm, according to an analyst.

Users Prefer Night

Various data plans tailored for the night have spurred subscribers to go online in the small hours, particularly between midnight and early morning, says a report.

The offer by mobile operators has come to counter the intense competition triggered by the entry of Reliance Jio Infocomm, which has provided free data and voice plans for subscribers. The firms hope that their customers will retain their account with them after the offer.

Uniqlo Delays Entry

Fashion giant Uniqlo is planning to delay its entry into India by at least a year due to unavailability of quality retail space, according to a report.

The Japanese firm will now enter the market by 2019, sources said. It is seeking help from the Commercial Real Estate Services (CBRE) to find a 15,000-17,000 sq ft space in Northern India for its first store.

Firms Fail Quality Tests

Top pharmaceutical firms Pfizer, Cipla and Dr Reddy’s Laboratories are among 66 drug makers whose products have failed a quality test, according to a report.

A survey conducted by the country’s drugs regulator, the Central Drugs Standard Control Organisation, found samples from these firms not of a standard quality.

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.

Latest posts by Babu Kalyanpur (see all)

Comments

comments