Business Roundup # Week 34

Business news
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Used Cars Drive

Maruti Suzuki is seeking to gain leadership position in the used car market segment through its TrueValue chain, according to a report.

The company plans to expand the chain and is targeting sale of six lakh used vehicles by 2020.  The TrueValue chain will drive the company’s ambitions and will hope to generate Rs 15,000 crore in sales.

Mars Acquisition

Mars Food is buying a US-based manufacturer and marketer of ready-to-heat Indian and Asian food products, says a report.

The company has signed a deal to acquire Preferred Brands International which sells its all-natural products under the Tasty Bite brand. Approval for the deal is expected in the last quarter of 2017.

Jio Boost

Reliance Jio Infocomm has increased its market share by 10.39 per cent, adding  6.02 million users in June this year, a report reveals.

However, Bharti Airtel leads the market with a 24% share, according to subscription data from the Telecom Regulatory Authority of India. It said Airtel added 2.04 million customers, followed by Vodafone India 0.98 million and Idea Cellular 35,541.

Amazon Tops

Amazon India is leading Flipkart in customer preference for online retail shopping, according to a survey by Forrester Research, claims a report.

The survey of 2,000 Indian customers conducted in February-March this year, revealed that 80% shopped with Amazon while 65.5% shopped with Flipkart. The research firm said Amazon topped Flipkart in customer preference for the first time last year.

Seats Increased

SpiceJet has won slots equivalent to 5,500 weekly sats at the Dubai airport after India sought better and more slots for its carrier in the emirate, says a report.

However, the airline cannot start flights immediately. An aviation ministry official clarified that the seat quotas between the India and Dubai sector has been exhausted and SpiceJet can only start flights after a bilateral seat allotments are increased.

Liquor Shops Shut

At least 15,000 out of 30,000 liquor shops which pulled down shutters after a Supreme Court ban on April still remain shut, according to a report.

The top court had banned liquor stores within 500 metres of state and national highways. Spirit makers say that the situation is only likely to normalise by next year. This has lead to many firms taking a hit on their volumes.

Sony Move

Japanese major Sony has trimmed its small screen TV portfolio and exited the cheap entry-level digital camera as part of its strategy to return to growth in India this year, says a report.

This segment of the market had become stagnant for the company due to a global decision to exit laptops and entry-level smartphones. The firm expects sales growth to hit 20% this fiscal year in the country, which is among its top market.

Xiaomi Sales up

Chinese phonemaker Xiaomi’s direct-to-retail approach to bolster its offline sales has paid dividends in India, according to a report.

India is the biggest market for the company after China. A company official said that the Xiaomi’s offline sales now accounts for 20% of its overall sales in India, doubling the tally from about six months ago.

 

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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