ITC acquires Sunrise Foods in all-cash deal for Rs 2,150 cr : Bulletin: Business Today
Business Today

ITC acquires Sunrise Foods in all-cash deal for Rs 2,150 cr

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BusinessToday.In | July 29, 2020

Coronavirus pandemic 'one big wave', not dependent on seasons: WHO
A World Health Organization official on Tuesday described the COVID-19 pandemic as "one big wave" and warned against complacency in the northern hemisphere summer since the infection does not share influenza's tendency to follow seasons.
Coronavirus effect: Global air passenger traffic will not return to normal until 2024, says IATA
Global air passenger traffic will not return to pre-COVID levels until 2024, a year later than previously projected, as international travel curbs remain in place in most countries due to the coronavirus pandemic, IATA said Tuesday. Moreover, the overall domestic passenger traffic was 86.5 per cent less in June 2020 than what was observed a year ago, the global airlines body added.
Lockdown impact: 2.9 million PCs shipped in just 45 days in Apr-June
Despite the nationwide lockdown and just 45 operational days in April-June quarter this year, as many as 2.9 million PCs were shipped in the channel. These include desktops, notebooks, tablets and workstations, according to research firm Canalys. However, the shipment of PCs declined by 33 per cent year-on-year in the said quarter. The PC industry has been on a decline for the last few years. This recent boost in PC sales may not be enough to change the industry dynamics, say industry experts.
Coronavirus treatment: Donald Trump tweets in favour of hydroxycloroquine
President Donald Trump issued a stout defense Tuesday of a disproved use of a malaria drug as a treatment for the coronavirus, hours after social media companies moved to take down videos promoting its use as potentially harmful misinformation. In a White House briefing, Trump defended his decision to promote a viral video of a group of doctors promoting the use of the drug Monday, even though his own administration withdrew emergency authorization for its use against the coronavirus.
ITC acquires Sunrise Foods in all-cash deal for Rs 2,150 crore
Homegrown FMCG major ITC on Tuesday said it has acquired 100 per cent stake in Kolkata-based packaged spice-maker Sunrise Foods Private Ltd (SFPL) for Rs 2,150 crore in an all-cash deal. Sunrise is a family owned company, engaged primarily in manufacturing of spices under the trademark 'Sunrise'.
Railways stare at revenue loss of Rs 35,000 crore from passenger train services
Indian Railways may post a revenue loss of Rs 30,000-35,000 crore from the passenger train segment in FY21. The Railways may record just 10-15 per cent of the passenger segment revenue in the ongoing fiscal as against Rs 50,000 crore last year. The performance of the national transporter may be negatively impacted owing to restrictions on movement amid ongoing coronavirus pandemic.

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