Tata Global Beverages to sell its Russian business to Skodnya Grand
The Dollar Business Bureau Indian multinational Tata Global Beverages Ltd (TGBL) said on Thursday that it will sell its Russian business to a local company as part of its strategy to restructure operations in Russia. The amount of the deal has not been disclosed by the company. TGBL, a Tata Group subsidiary, has signed an agreement to transfer operational responsibilities and ownership of its business unit in Russia to Skodnya Grand Ltd, TGBL said in a statement. The deal also includes granting a 5-year renewable license pact for its brands in Russia to Tea Trade LLC, after the transaction has been completed, it added. The deal is likely to be concluded with the next in 3-4 months, subjected to the regulatory approvals, the company ...
Blue Star expects a growth of 30% in FY 2017
The Dollar Business Bureau Blue Star, the largest air conditioning (AC) and commercial refrigeration company in India, has expected a total growth of 30 percent during the financial year 2016-17. During a press meet on Tuesday, B Thiagarajan, Joint Managing Director, Blue Star said, "As a brand, Blue Star continues to be a major player in the commercial and corporate segment which consists of a 25 percent of the total market size.” In the last financial year, the company grew at a rate of 20 percent which is more than the growth of industry and had a market share of 10 percent, Thiagarajan said. He further said that we wish to continue to grow at the same pace ...
4G device sales grow in India by 108% during Q12015
The Dollar Business Bureau Increasing use of smartphones and high-speed wireless internet has propelled the sales of 4G devices in Indian markets. According to a market research, sales of 4G-enabled devices that support high-speed data transfer have increased by whopping 108% between January and March this year. Analysts attribute the upward sales to the rising demand of data card and smartphones across the country. The two segments have witnessed an increase of 287% and 111% respectively during this period, said the quarterly report released by CyberMedia Research (CMR). While the total 4G device shipments in the country reached 2.2 million units during January-March 2015, smartphones dominated the market contributing 97% of the devices sold. And, experts predict the trend ...
