Business Roundup # Week 31

Business this week

 

DAN Buys Sokrati

Multimedia and digital marketing communications company Dentsu Aegis Network (DAN) has signed a deal to buy Pune-based firm Sokrati, a report said.

Sokrati is an Indian data-driven performance-marketing and analytics agency. The deal could be valued at Rs 500 crore. With this deal, DAN has 25 agencies, eight of them digital.

Goldman Hiring Spree

Goldman Sachs is planning to do lateral hiring and boost campus recruitment by around 30 per cent this year at its Bengaluru office, a report said.

The global investment bank plans to tap into the local talent pool of engineers as part of its technology drive. The Bengaluru office has the largest number of engineers after the New York headquarters.

Crorepatis Up

The top 15 professional service firms in India account for more than 1,600 crorepatis, says a report.

This number has surged over the last three years as a large number of partners have joined these firms. The top four companies, EY, Deloitte, pwc and KPMG account for 1,200 of the total number. This compares with the 800 crorepatis in the BSE500 comprising companies they advise.

Maruti In The Lead

Maruti Suzuki is leading in the utility vehicles and van section besides cars in the Indian market, according to a report.

The company performed extremely well in the first six months of the year in production and sales growth. Domestic sales grew 14% in the first six months in the year compared with 8% for the automobile market. Production jumped  18%, double the market pace.

Products App Launched

Zoho Corportion has launched Zoho One, a bundled offering of its entire suite of business software solutions, a report says.

This is the company’s most aggressive bid to beat the competition it faces from giants like Microsoft in the enterprise market.

Retailer Margins Cut

Chinese firms Vivo and Oppo are cutting the high dealer commissions and payments they gave to occupy shop fronts across small retailers and mom-and-pop stores which helped them boost growth in India, says a report.

The companies had begun the process of cutting their payouts to these entities over the last two months, sources said.

Phone Shipments Hit

Smartphone shipments to India have been hit hard by the transition to the Goods and Services Tax (GST), especially in June, a report said.

Singapore-based market research firm Canalys said the smartphone market contracted on the year for the first time in the April-June quarter by 4% to 27 million units. Another firm, Counterpoint Research, said June sales fell 9% from a year earlier.

New SUV Unveiled

Jaguar Land Rover (JLR) has launched Range Rover SVAAutobiography Dynamic in the country, according to a report.

It is priced at Rs 2.7.9 crore (ex-showroom). It comes loaded with several features and a powerful V8 engine.

TGI Fridays’ Move

American chain TGI Fridays is planning to launch a second brand in the country, says a report.

It will be based on the bar model, serving alcohol and snacks instead of being a full-time restaurant that the company has been. The outlets will be named Fridays American Bar.

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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