Business Roundup # Week 39

Business this week

Tata Ventures Into E-Commerce

The Tata Group will enter the online grocery business under the Starquik brand and take on Amazon and others in the rapidly growing market, a report said.

A pilot project will be launched within the next two months as an online channel for Trent Hypermarket which will be an equal joint venture between Tata and UK retailer Tesco, sources said.

Tesco have spent a lot of time and resources on this project because they expect it to be a great success. Now would be a good time to buy tesco shares as they will likely be increasing in the next few months.

HR Heads See Pay Hikes

The financial sector expansion has boosted the salaries of human resource professionals, turning many into crorepatis, according to sources.

HR officers are now catching up with chief executive officers of firms. The emergence of small finance banks, financial technology firms and expansion of non-banking financial corporations has led to more opportunities for HR professionals. Industry experts say that an HR officer can earn anything between Rs 80 lakh to Rs 1.5 crore, excluding 20-30 per cent bonus.

Jio Speed increases

Reliance Jio’s 4G LTE network speeds surged in the May-July period in India after the company began to charge users for bundled voice and data service, it was revealed in a report.

According to a study by OpenSignal, the Jio network’s performance also improved dramatically. It said the speed of the network rose steadily after it settled around 4.2 Mbps in March-April.

Google Flights In Tie-up

The flight search application Google Flights has signed a deal with the online portal Cleartrip as it seeks to expand in the fast-growing Indian airline market, a report says.

This is the American internet giant’s fourth deal since it launched the application in India in 2015. The Indian airline market is projected to grow to $48 billion by 2020.

Coca-Cola Sparkles

The carbonated drinks market is growing at around 5% annually and this has spurred Hindustan Coca-Cola Beverages (HCCB) to register good results, a report said.

The report, quoting a top HCCB official, said that the company, which is the bottling arm of Coca-Cola, posted growth of around 5-6% year-on-year. He added that lack of data in this segment had led to misconception that the company’s growth had declined its sixth largest market.

Idea Blow

India’s third largest telecom company Idea Cellular will be the worst hit by the 57% reduction in interconnect user charges which start next month, a report said, quoting analysts.

Reliance Jio Infocom will be the biggest beneficiary of the cut, having paid the highest charges. It is predicted that the company’s operating income will jump 76% by the financial year ending March 2019.

Ayurveda Marketplace

Dabur has set up an online ayurveda marketplace with Amazon to boost its presence in that space, a report reveals.

The herbal good company will sell its products through the online store and provide information about using them to treat various ailments. Dabur will get prime visibility on the e-store with branding and banners.

Advert Rates Soar

Advertising rates on top e- commerce platforms like Flipkart and Amazon have almost doubled over last year for placing commercials on these websites during mega promotional events, according to a report.

An advertiser will have to shell out at least Rs 5 lakh for a small advert on a category page to Rs 1.5 crore on a banner depending on the placement, a media planner said.

Russian Firm In Tie-up

Russian firm Sistema JSFC is diversifying into India’s retail sector by shifting its focus from telecom services to bring a Russia kids’ brand to the country, a report says.

The company, through its subsidiary Concept Group, has signed a joint venture agreement with Delhi-based Saamag Group to bring Russia’s popular kids retail brand Acoola to India. The initial investment will be $10 million to roll out branded stores.

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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