TCS once again became the most-valued Indian company overtaking RIL : Bulletin: Business Today
Business Today

TCS once again became the most-valued Indian company overtaking RIL

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November 29, 2018

Unilever likely to trump Nestle in race for GlaxoSmithKline's Horlicks nutrition business

Unilever has emerged as the leading bidder in a tight contest for GlaxoSmithKline's Indian Horlicks nutrition business, three people familiar with the situation told Reuters on Wednesday. If it is able to clinch the deal, Unilever will trump fellow European consumer giant Nestle, the other main contender to buy Horlicks and other GSK consumer healthcare assets in India. One source said Unilever had been given "preferential treatment" to complete the deal but did not have exclusivity in negotiations, so it was possible GSK might re-open talks with Nestle if it could not agree terms with Unilever

IKEA reports a 26% drop in operating profit

IKEA Group on Wednesday reported a 26 per cent drop in operating profit for its fiscal year through August and said increased investments to meet rapidly changing shopping habits weighed on results. Operating profit at the world's biggest furniture group was 2.25 billion euros ($2.54 billion)against 3.03 billion in the previous fiscal year.IKEA, known traditionally for its out-of-town self-service stores, is in the midst of transforming its business model.
TCS pips Reliance Industries to become most valued company again

Tata Consultancy Services once again became the most-valued Indian company by market capitalisation following a smart surge in its share price Wednesday. Reliance Industries (RIL) on November 16 had pipped Tata Consultancy Services to become the most-valued company in terms of market capitalisation. At the end of trade on BSE Wednesday, TCS commanded a market valuation of Rs 7,41,677.60 crore
RIL arm acquires substantial stake in media startup NEWJ

Reliance Industries arm has acquired substantial stake in media startup New Emerging World of Journalism (NEWJ) with an initial investment of Rs 10.3 million.NEWJ is a tech-media startup focused on curating and producing video content for the smartphone-obsessed young Indians. The venture was founded by a team of young entrepreneurs led by Shalabh Upadhyay," sources at NEWJ said. NEWJ will harness this synergy with a data-driven and tech-focused approach in creating a distributed content model, they added.
Himachal Pradesh first state to launch single emergency number '112'

Himachal Pradesh became the first state to launch a pan-India single emergency number '112' where all kinds of immediate help can be sought in urgent matters. Under this project, an Emergency Response Centre (ERC) has been established in Shimla along with 12 district command centres (DCCs), covering the entire state. The single number for various emergency services, which is similar to the '911' all-in-one emergency service in the US, will be gradually rolled out across the country, an official said.
Triumph to launch 6 new bikes in India by June next year

British superbike maker Triumph Motorcycles Wednesday said it plans to launch six new products in India by June next year. The company, which has completed five years in India, also aims to grow its sales in the country by 10-12 per cent annually going ahead. The company also intends to expand its sales network from the current 16 dealerships to 25 over the next 3-4 years.
Music streaming service Spotify to debut in India; in talks with T-Series, Eros Music

Eight months after Spotify's CEO and co-founder Daniel Ek announced at the company's investor day presentation that  an India launch was "imminent", things are finally moving towards fruition. Industry executives told The Economic Times that the popular music streaming service is in the final stages of negotiations with top Indian labels T-Series, Times Music, Eros Music and Zee Music for local content as it prepares to debut in the country in the next six months.

Honor 8C to launch today in India

Huawei's sub-brand will launch Honor 8C in India at 12 p.m. today as an Amazon exclusive device. Honor 8C is coming to India only a few weeks after its China launch. The notch phone has a 19:9 display panel with face-unlock capabilities. Honor 8C is expected to give tough competition to the sub Rs 15,000 phones of Xiaomi like Redmi Note 6 Pro.


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