Titan: Tata group firm Titan on Thursday said its overall sales grew 18 per cent year-on-year in the September quarter. The company, which operates in the segments as Jewellery, Watches & Wearables, and EyeCare has witnessed "healthy double-digit growth across most businesses," according to a quarterly update. Titan added 105 stores to its retail network in the second quarter of the current fiscal. "The company witnessed healthy double-digit growth across most businesses with overall sales growing 18 per cent YoY," Titan said.
Britannia Industries: Bakery foods company Britannia Industries has acquired a controlling stake in Kenya-based Kenafric Biscuits, a move which will help the company set up a manufacturing base and expand sales in the African markets. Britannia and Associates (Dubai) Pvt Company Ltd(BADCO), a wholly-owned subsidiary of Britannia has acquired a 51% equity stake in Kenafric Biscuits Ltd (KBL) for a cash consideration of 13.87 crore Kenyan Shillings ( ₹9.2 crore), a regulatory filing by the company said.
Dabur India: Consumer goods major Dabur India today flagged that soaring inflation during the second quarter could lower its operating margin by around 150-200 basis points year-on-year. "During the quarter, inflation was at peak levels which impacted gross margins," Dabur said in a regulatory filing while sharing an update on the performance and demand trends witnessed during the quarter ended September 30, 2022. The company is due to report earnings for the second quarter ended September on October 26.
Fsn E-Commerce Ventures: Indian cosmetics and fashion retailer Nykaa has signed an alliance with Dubai-based fashion and lifestyle retail conglomerate, Apparel Group. The companies said that the alliance has been forged to expand businesses in the Gulf countries. Nykaa Chief Executive Falguni Nayar said the two companies will together build a multi-brand beauty retail business in Gulf Cooperation Council countries namely the Kingdom of Bahrain, the State of Kuwait, the Sultanate of Oman, the State of Qatar, the Kingdom of Saudi Arabia and the UAE.
Quess Corp: HR solutions company Quess Corp Ltd, will divest its stake in the digital risk and compliance services company, Simpliance Technologies Private Limited (Simpliance) to Aparajitha Corporate Services (Aparajitha) an HR compliance services company and its affiliates. The deal is valued at an enterprise value of ₹120 crores, on a cash and debt-free basis, subject to closing adjustments and fulfilment of conditions set out in the transaction document.
NTPC: State-owned NTPC has roped in GE Gas Power to help it reduce carbon emissions at its 645 MW Kawas gas power plant in Gujarat. Both companies have entered into a Memorandum of Understanding (MoU) in this regard. "MoU is to demonstrate the feasibility for hydrogen (H2) co-firing blended with natural gas in GE's 9E gas turbines installed at NTPC's Kawas combined-cycle gas power plant in Gujarat...and further implementation at scale across NTPC's installed units in India," GE Gas Power said in a statement.
HFCL: Domestic telecom gear maker HFCL has partnered with Qualcomm Technologies for the design and development of 5G outdoor small cell products, the home-grown firm said on Thursday. In continuation with its 5G strategy, HFCL's investment in 5G Outdoor Small Cell products will enable faster rollout of 5G networks, improved 5G user experience and more efficient utilisation of 5G spectrum, the company said in a statement.
Ircon International: Parag Verma has taken over as director (Works) of Ircon International Limited, a miniratna public sector enterprise with effect from 21 September, the company said in a statement. Ircon International is a turnkey construction company which is in railways, highways and extra high-tension substation engineering and construction. With over 31 years of experience in infrastructure works in India and Abroad, Verma’s primary areas of expertise include planning, estimation, conceptualization, structuring, and execution of infrastructure projects.
Yes Bank: The Reserve Bank of India has approved the appointment of Prashant Kumar as MD and CEO of Yes Bank for three years with effect from October 6, 2022. Earlier in July this year, the alternate Board of the private sector lender had recommended to the Reserve Bank of India for its approval, the appointment of Kumar as Managing Director & Chief Executive Officer (MD &CEO) of the Bank for a period of three years.
HCL Tech: IT company HCL Tech plans to train up to 18,000 technology and consulting professionals on Google Cloud to scale up its ability to accelerate digital transformations globally with Google Cloud infrastructure, products and solutions, the company said on Thursday. HCL Tech has been a strategic partner of Google Cloud and formed the dedicated Google Cloud Ecosystem Unit in 2019 to accelerate enterprise cloud adoption at enterprises.
