Business Roundup # Week 24

 

Pune Centre Set-Up

The RPG Group’s  IT company, Zensar Technologies, has set up a dedicated R&D centre at its campus in Pune, according to a report.

Zenlabs is part of the company’s plan to invest in the future, a company official said. Through Zenlabs, the company will invest in platforms and technologies which will be mainstream over the next 3-5 years, he added.  The company will set up a similar facility in the US.

New Trai Apps

Three apps and a portal have been launched by the Telecom Regulatory Authority in India (Trai) for service providers for making information access easier to consumers, says a report.

The authority has also revamped its own website for the purpose. The three apps – TraiMyCall, an auto test-enabled MySpeed app and Do-not-disturb 2.0 are aimed at improving customer experience. The data collected from these apps will be sent to service providers to enhance the quality of services.

Office Rentals Rise

Three Indian metros led by Bengaluru were among the select global cities which saw a sharp annual rise in office rents in the first quarter of this year, according to a report.

The office markets in Delhi, Mumbai and Bengaluru saw a big surge in office rentals on a year-on-year basis despite the demonetisation in November, according to the Knight Frank Asia-Pacific Prime Office Rental Index. Bengaluru recorded a rise of 4.7 per cent.

Coca-Cola Move

Coca-Cola is planning to launch frozen desserts in India as part of its plan to broaden its portfolio in the country, a report said.

The new product will be available in the next three months and will be sold initially in institutional formats like movie theatres and not as retail packs, officials said. The beverages giant will also put fruit chunks in Maaza and Minute Maid to make the drinks healthier.

Luxury Car Boost

Luxury car manufacturers forecast their volumes to post double digit growth this year over the introduction of the Goods and Services Tax (GST), according to a report.

Industry sources said that the luxury car market may grow as much as 15 per cent as the GST may work in favour of the manufacturers and the vehicles cheaper from the July 1 rollout of the tax.

Myntra Eyes US Brand

Myntra is mulling plans to add US sportwear brand Under Armour to its platform, says a report.

This comes on the heels of Amazon signing an exclusive deal with the company to be its sole partner in India. Sources said that Myntra is already in talks with the sports apparel and accessories maker to shift its platform since it was unhappy with the response it was getting for its products in India.

Publicis Push

Communications giant Publicis Groupe plans to double its size and scale in India in the future, according to a report.

The company is aiming to tap India’s talent pool to service clients worldwide, a top official said. The company sees India as a huge market for transforming its existing business, he added.

Bank To Raise Funds

Chennai-based private sector bank Lakshmi Vilas Bank is seeking to raise Rs 1,000-1,100 crore through a share sale to institutional investors, according to a report.

The bank is aiming to capitalise on the interest shown by global financial institutions in India’s financial services sector. It is in talks with JP Morgan, Centruim Capital and SBI Capital Markets to manage the issue.

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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