NTPC reports 24.15% rise in profit
Posted on July 27, 2005
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Indian Public Sector Unit power brand National Thermal Power Corporation (NTPC) has recorded a 24.15 per cent increase in net profit at Rs 1,308.70 crore against Rs 1,054.10 crore reported in the same period last year.
Total income for the quarter has risen to Rs 6,609.50 crore from 5,729.60 crore in the corresponding period of previous year
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Posted on July 27, 2005
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ING Vysya Life Insurance Co Ltd. (ING Vysya Life) one the leading private sector brands in India in the insurance segment has announced its strategic tie-up with Exide Industries Ltd. Exide Industries Ltd. is all set to become a major shareholder and partner of ING Life Insurance Co. Ltd. as the business continues to expand its market share and premium income across India.
According to the agreement Exide will acquire the 49.13 per cent stake held by GMR Industries Ltd. (GMR) and an additional 0.87% through its subscription to a concurrent capital call, resulting in Exide achieving a 50% interest in the company. The proposed transaction is yet to get the go ahead of Insurance Regulatory and Development Authority (IRDA).
Exide is all set to purchase GMR’s 49.13 per cent for Rs. 203.2 crores. A simultaneous capital infusion will raise a further Rs. 50 crores of which Exide will invest Rs. 28.40 crores. The total capitalisation of the brand following the latest capital call will increase to Rs. 440 crores from Rs. 390 crores. After the capital call and relevant regulatory approvals, ING Group will continue to hold its 26 per cent holding, the maximum stake currently allowed under FDI regulations, Gujarat Ambuja Cements Ltd. 14.87 per cent* and Enam 9.13 per cent.
Oberoi plans expansion in Gurgaon & Mumbai
Posted on July 27, 2005
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At the 55th annual general meeting of East India Hotels Limited (the flagship company of the Oberoi Group) the group announced its plans of opening a luxury Oberoi brand hotel in Gurgaon and another project of 440 room hotel in Bandra-Kurla in Mumbai which is expected to start soon.
The average occupancies of this leading brand of hotels during the financial year 2004-05 increased to over 67 per cent as against 61 per cent in the previous year. There has been an increase in the East India Hotel’s total revenue by 24 per cent, the operating profit rose by over 55 per cent, and the net profit after tax and extraordinary items by over 17 per cent. The dividend has also been increased to 40 per cent from 30 per cent in the previous year.
Emami signs Chiranjeevi as brand ambassador
Posted on July 22, 2005
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Emami, the personal and healthcare brand in India, has signed in Telugu superstar Chiranjeevi as brand ambaasador. Chiranjeevi will feature in Navratna Oil commercials, which will hit the media within a month’s time.
Many stars have already endorsed the Emami as brand ambassadors including Indian cricket captain Sourav Ganguly and Bollywood stars Sunny Deol, Govinda, Madhuri Dixit and Amitabh Bachchan as brand ambassadors.
Navratna Oil at present enjoyed leadership position as a traditional cool oil and a cure for sleeplessness and headaches. Aggression is expected to be the key word for the brand in the coming years as the brand’s strength was in geographical spread and loyalty. The company would work to expand the market and Navratna Oil’s share.
Zodiac to invest in retailing in India
Posted on July 21, 2005
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With increasing competition in the post-quota regime, Zodiac Clothing one of the top brands in clothing segment has decided to invest further in domestic retail chains. The Zodiac group had earlier picked up a 2.93-per cent stake in Shoppers’ Stop and is now looking at picking up further stakes in more retail chains
However, there are no intentions of increasing its investments in Shoppers’ Stop post the retail chain’s IPO. Zodiac intends focusing on the Indian retail market. The Rs 151-crore Zodiac Clothing is currently on a retail expansion spree with plans of setting up 300 new stores. The company has already invested in a wholly owned subsidiary for the acquisition of a shirt manufacturing facility in the UAE and to expand its network of retail stores.
Besides, Zodiac has decided to beef up the presence of its Zod brand of club wear and has recently launched its first Zod store at High Street Phoenix in Mumbai. Commenting on the opening of its first Zod store. Having stepped into the readymade casual wear market, Zodiac has been waiting for Zod to get established before investing in an exclusive shop for the brand.
John Abraham is Samsung’s Brand Ambassador
Posted on July 21, 2005
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Samsung has launched its new, sporty bar type colour mobile phone handset the SGH C210 in the Indian market. The company states that the SGH –C210 is the lightest bar type phone in its category. Bollywood star John Abraham will be this phone’s brand ambassador.
The latest brand launched by Samsung has some useful power packed features like 65K UFB LCD Colour Screen, Java, Wap, GPRS for internet connectivity, MMS messaging capabilities and a 1000 phonebook and a 200 SMS memory.
TIL posts 21.9 % net rise in sales
Posted on July 21, 2005
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TIL Ltd has registered a 21.9 per cent increase in net sales to Rs 84.85 crore in the first quarter ended June 30 from Rs 69.59 crore in the same period last year.
Gross income was at Rs 85.12 crore compared to Rs 70.06 crore. Total expenditure increased from Rs 55.61 crore to Rs 66.60 crore. Net profit increased from Rs 49 lakh to Rs 1.22 crore.
Texmaco Ltd posts 274% rise in profit
Posted on July 21, 2005
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K K Birla group engineering outfit, Texmaco Ltd, has posted a 274% rise in net profit at Rs 3.28 crore in quarter ended June 30, 2005 from Rs 60.68 lakh in the same period of the last fiscal.
The turnover during the period has improved considerably from Rs 34.87 crore in the first quarter of 2004-05 to Rs 57.7 crore in the corresponding period of 2005-06.
The heavy engineering division has made a real turnaround and posted a profit of Rs 4.01 crore compared with Rs 1.19 crore in the year-ago period.
Shree cement posts Rs 26 Cr. profit
Posted on July 21, 2005
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Shree Cement has one of upcoming brands in the Indian cement market has reported a marginal improvement in net profit in the quarter ended June 30, 2005 at Rs 26 crore from Rs 25.9 crore during the corresponding period of the last fiscal.
Turnover has declined marginally from Rs 142.70 crore in the quarter ended June 30, 2004 to Rs 142.5 crore in the corresponding period of the currently financial year. Shree Cement has claimed that it has achieved highest-ever sales in Jung Rodhak brand during June 2005.
KPIT Cummins posts profit for q1
Posted on July 21, 2005
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Pune-based Information Technology consulting brand KPIT Cummins has posted a 4.07 per cent rise in consolidated net profit at Rs 6.39 crore for the first quarter ended June 30, 2005 against Rs 6.14 crore in the same quarter of previous fiscal.
Total income from operations grew to Rs 69.96 crore in the reporting quarter against Rs 60.86 crore in the corresponding period of last fiscal. The Indian Information Technology market flodded with big brands is growing everyday. Almost all brands reported profit in the q1 results with Tata Consultancy Services at the top.
Audi plans A4 launch in ‘06
Posted on July 21, 2005
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A4, Audi’s entry level car, is all set to be launched early next year in India. The brand will be priced in the Rs 22 lakh-24 lakh range and positioned in direct competition with brands like Mercedes `C’ class. Audi hopes to sell 30-35 units of its well known brand A4 in the first quarter of next year
The Audi stable in the country comprises the A6, A8 and TT Coupe and has sold 50 cars in the last four months in India. While the TT Coupe and Audi A6 petrol versions have been homologated, the A6 diesel, A4 petrol and diesel versions are in the process of getting homologated.
The brand currently has two dealers in the country, EuroMotors in Delhi and Island City Motors in Mumbai. Jubilant Enpro, the dealership facility at Bangalore is all set to be opened in October to service the needs of the company’s South-based clients. The market seeding for brand Audi has already begun. As part of its marketing and branding strategy, the company is bringing the Audi Golf Tournament to the country this winter.
General Motors launches Corsa Elite
Posted on July 21, 2005
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General Motors India today launched a brand new Special Edition of the Opel Corsa 1.4 Elite targeted at the discerning and exclusivity-seeking customer following an overwhelming response to a previous Limited Edition of the vehicle.
Available at an ex showroom Delhi price of Rs 539,634 each, the Special Edition Corsa Elite is available in two premium colour shades - Shimmering Black and Crystal Mica
Based on the Corsa 1.4 GSI, the brand new Special Edition redefines value for money proposition and offers a host of incremental exclusive features including a unique Triple Information Display (TID) system. It comes with exclusive features like Italian leather upholstery, 14” Alloy Wheels, leather wrapped steering wheel, deep burl wood finish on TID dome, centre console, instrument panel, triple Information Display (TID), sporty aluminum foot pedals, chrome exhaust pipe and cigarette lighter and ashtray
Carat India appoints N P Sathyamurthy
Posted on July 21, 2005
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N P Sathyamurthy, has been appointed as the chief planning officer of Carat India. MR Sathyamurthy’s previous experience includes five years with Heinz in sales & marketing and in brand management, and 10 years in media planning with agencies like Mudra, O&M and Euro RSCG.
MR Sathyamurthy recently resigned as the director general of the Media Research Users Council, MRUC, where he spent three years. MR Sathyamurthy has been associated with brands like Hindustan Lever, Philips, Microsoft, Intel, Nokia, Gillette, American Express, Castrol, Prudential ICICI, HDFC, Asian Paints, Castrol, Vimal, Rasna and Dhara amongst others.
MR Sathyamurthy was responsible for syndicated research products like the Indian Research Survey (IRS), Indian Listenership Track and the new Consumer Classification System. He is a faculty member at MICA and six other premier management institutes. He will take up his assignment at Carat India as soon as he completes his hand-over at MRUC.
BMW plans $40 million plant in India
Posted on July 21, 2005
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German luxury car maker BMW has sought permission from the Indian government to set up a $40 million manufacturing plant. The proposed plant will be located in the town of Chengelpet in the southern state of Tamil Nadu, which already is the home to global car majors Ford Motor Co. and Korea’s Hyundai Motor Co.
A proposal from BMW AG and BMW Holdings BV is awaiting clearance from the Foreign Investment Promotion Board. The proposed plant is expected to assemble automobiles from knocked down kits, and import built-up units as well. BMW, the world’s largest premium car maker, would buy out its subsidiary, BMW India Pvt. Ltd., which it set up in 1997. BMW AG will buy 30 percent of the stake and BMW Holding will buy the remainder. The German brand will also issue fresh shares to itself.
BMW makes the popular 3-series saloon, the Mini and the 1-series compact, besides the Rolls-Royce brand.
Thomson ties up with VSNL
Posted on July 20, 2005
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The Thomson Group known for its Technicolor, Grass Valley, RCA and Thomson brands, has announced its strategic tie-up with Tata group’s Videsh Sanchar Nigam Ltd, (VSNL) to combine their expertise to come up with new technologies for the Indian market.
Through the partnership, Thomson will gain a foothold in the Indian market and will leverage the reputation of the Tatas, the brand recognition of Tata Indicom and Videsh Sanchar Nigam Ltd’s expertise and presence to grow its broadcast, network and telecom activities.
Thomson’s expertise in digital video technologies will offer significant benefits to Videsh Sanchar Nigam Ltd and the companies will explore new opportunities in managing and delivering content for third parties.
Honda to invest Rs. 650 Cr in India
Posted on July 20, 2005
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Japanese car brand Honda Motor is planning to invest Rs 650 crore in the Indian car market in the next three years. Out of which the company is all set to put in Rs 150 crore this year to up capacity at its Surajpur plant, from 30,000 to 50,000 units. The balance Rs 500 crore is expected to be spent on productionising new models and doubling capacity further to 100,000 units per annum. The entire investment is to be funded by Honda Siel’s internal accruals
The investment is part of Honda’s fresh fourth-gear strategy for India. Buoyed by a fast growth in Honda car brands in India the company is planning to introduce a new volume model, the Civic, in the Indian market. In addition to meeting the growing demands of its existing models — City and Accord— the increased capacity of the plant would also accommodate the start up of local production of the new Civic, within the next year.
The new Civic, which will roll out in the US soon and debut at the Tokyo Motor Show in October this year, will have a specially-developed Asian variant which will come to India. While Honda’s Japan plant will be the mother unit for this model, the company will source from Thailand, given it’s importance in Honda’s strategy post the Indo-Thai FTA, say sources. Capacity expansion and new production introduction is part of Honda’s long-term plan to emerge as “the best” automobile brand in India.
Indian delicacies steel show at New York
Posted on July 20, 2005
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Indian delicacies from Basmati rice to ready-to-eat curries, spicy chutneys & pickles, crunchy snacks, the best of Assam, Darjeeling and Nilgiri teas and an exclusive array of Indian wines & beers were werew the star of show at the prestigious 51st Summer Fancy Food Show organized by the NASFT at New York’s Jacob Javits Center July 9-11.
The Indian brands present at the show were Richi Rich, Bikanervala Foods, Bombay Exports and Imports, Clique Exports, Kashmir Apiaries Exports, Green Leaf Private Ltd, Shakti Bhog Foods Ltd, Speedway Food and Beverage Pvt. Ltd., Bansirams along with a wide range of other brands.
Not to be forgotten were the Grover Vineyards’ range of wines: Cabernet Shiraz-Red Wine, the most acclaimed red wine brand in India, Blancs de Clairette, the noble Indian white wine, Rose-Dry, the Pride of India and La Reserve Red Wine, the first barrel-aged wine.
Essar buys 64% in BPL
Posted on July 20, 2005
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The Essar group one of the leading brands in the mobile phone segment acquired a 64 pct stake in BPL Communications Ltd for over 44 bln rupees, in one of the largest acquisitions in the Indian telecom sector.
The agreement was signed after highly competitive bidding by seven to eight foreign players, besides some very keen Indian players in the field. The deal follows Essar’s recent consolidation of its position in its joint venture with Hong Kong-based Hutchison Telecom, operating in India under Hutch brand, by acquiring an additional 3.4 pct equity.
Essar plan to merge the two big brands Hutchinson and and Essar with Hutchison to retain it majority stake in the merged entity. Hutchison, which holds 53.4 pct in Hutchison Essar, is believed to have agreed to chip in funds in the merged entity at a later stage.
Himatsingka records Rs. 11.27 cr Profit
Posted on July 19, 2005
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SILK fabric manufacturer and exporter Himatsingka Seide Ltd plans to invest Rs 400 crore in setting up a bed linen fabrics unit at the Hassan Special Economic Zone in Karnataka. The Indian brand repeoted an increase of 11 per-cent in its net-profit at Rs. 11.27 crore in q1. Sales revenues for the quarter increased 11 per cent to Rs 34.17 crore from Rs 30.79 crore in the corresponding previous quarter
The brand expects to finance this new unit through internal accruals and a term loan. Himatsingka intends to take a term loan under the government’s Technology Upgradation Fund scheme. The Karnataka Government has allotted 100 acres at Hassan SEZ for Himatsingka’s new unit that will have a capacity of 20 million meters per annum. Construction activity at the new project is expected to start by September and the project is expected to be completed within 12 months.
On reaching full capacity, the turnover of this new unit will be around Rs 475 crore. With this proposed investment, Himatsingka is targeting a turnover of Rs 700 crore by 2007-08.
Astra Microwave plans Rs 25 Cr. growth
Posted on July 19, 2005
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With the increasing demand for its products and services both in the Indian and International markets, Astra Microwave Products Ltd (AMPL) has embarked upon an expansion programme involving an investment of Rs 25-crore.
The India-based microwave components manufacturer is one of the few private brands engaged in designing and manufacturing of high value-added Radio Frequency (RF) and microwave super components and sub-systems for applications in defence, space and communication systems.
During the fiscal ended March 2005, Astra Microwave Products Ltd registered a growth of 87 per cent in revenues at Rs 65 crore, from Rs 34 crore in the previous fiscal, while the net profit improved by 127 per cent at Rs 23 crore (Rs 7.5 crore). As at the end of the fiscal, the company’s order book position stood at over Rs 105 crore.
REL shareholders say yes to pref share
Posted on July 19, 2005
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THE Reliance Energy Ltd (REL) shareholders on Tuesday approved a preferential issue of shares worth Rs 1,750 crore. Of this, shares worth Rs 1,500 crore would be allotted to Anil Dhirubhai Ambani Enterprises (ADAE) at a price of Rs 573 a share. The balance would be allotted to about six foreign institutional investors.
Ministry of Environment and Forests, had given the necessary environmental clearance for the 7,480-MW Dhirubhai Ambani Energy City project at Dadri in Uttar Pradesh. The Reliance Industries Ltd board has already re-confirmed the in-principle availability of gas for the project. Following the preferential equity allotment, the net worth of the company is expected to go up to Rs 8,200 crore from Rs 6,500 crore at present. This constituted an almost 90 per cent premium over the average weighted price of under Rs 300 per share paid by the Reliance Group for acquiring shares in the company.
Reliance Energy posts 42% growth in q1
Posted on July 19, 2005
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RELIANCE Energy Ltd (REL) one of the leading brand names of India posted a net profit at Rs 156.63 crore for the first quarter of 2005-06, registering a 42-per cent growth over Rs 110.01 crore in the first quarter last year. The surge in profits came even as the utility brands income from its core activity - sale of electricity - fell during the period to Rs 783.24 crore from Rs 799.2 crore.
The bulk of profits seems to have come from the Rs 58-crore rise in other income, mainly interest income, which stood at Rs 134.76 crore against Rs 76.92 crore last year. There was a rise in income from EPC and contracts at Rs 166.44 crore (Rs 143.58 crore). Thus, the total income for the quarter stood at Rs 1,084 crore, up 6 per cent from Rs 1,020 crore.
The cost of energy purchased decreased 6 per cent to Rs 275 crore, owing to lower per unit cost. Reliance Energy Ltd shares dipped Rs 6.15 to close at Rs 650.40. The company ranks third among Indian private sector companies in terms of net worth that stood at Rs 6,514 crore as on June 30, 2005.
FIL launches Tuk 3 in Andhra Pradesh
Posted on July 19, 2005
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FIL Industries Limited today launched in Andhra Pradesh a new brand of fruit drink, Tuk 3. The drink has been launched under Fruitfil, the umbrella brand of the juice division of the Srinagar-based Rs 100-crore-plus FIL group with an aim of tapping the everyday growing Indian fruit drink market.
FIL, which is the latest entrant into an estimated Rs 600 crore fruit beverages market in India, is also planning to launch mango and apple drinks in the coming months under the brand ‘Frugo’. With the launch of Tuk 3, the company has entered into the retail domestic fruit drink market.
Tuk 3, an all season drink comes with a combination of Seabuckthorn (Ladakh Berry), Kashmiri apples and Indian mangoes. With the fruit beverages market spread into the drink, nectar and juice segments, FIL Industries Limited plans not to just target juice drink industry but also ‘fun and refreshing’ industry which is three times larger.
Glaxo plans to withdraw non-profitable drugs
Posted on July 19, 2005
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Glaxo Smithkline (GSK) one of the leading brands in life saving drug making in both India as well International market is streamlining its product portfolio in a bid to weed out unprofitable brands. The latest brand to disappear from its product basket is antibiotic Furadantine. The drug maker is expected to focus on high value products in the product patent regime.
It is expected that with this descision of Glaxo Smithkline of withdrawal the rival brand Ranbaxy will be gaining . Gramoneg by Ranbaxy is the only substitute for this drug. The drug is used for postoperative urinary tract infection, cystitis, pyelonephritis, pyelitis etc.
Withdrawal of the particular drug brand can be attributed to the fact that the drug has become resistant to the organisms due to reasons ranging from incomplete dosage, drug not being used for proper indication under medical supervision and without being prescribed by an experienced physician.
Ecco Shoes launched in India
Posted on July 19, 2005
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Danish major Ecco shoes launched its operations in India with the introduction of its premium golf footwear priced at Rs 26,999. The brand also launched its formal and casual range for men and women.
Ecco shoes will initially be available in three cities - New Delhi, Mumbai and Chandigarh and will be retailed out of Shoetree outlets. In the first year of operations, a budget of Rs 10 million will be allocated to support a very selective marketing effort focused at the concept stores. The brand expects to sell approximately 15,000 pairs within the first year of operation with a break even expected between the second and third year.
The brand offers a wide range of products, which includes formal, casual and golf shoes. The formal range of shoes predominantly consists of office wear for men and costs anywhere between Rs 8,299 – Rs 12,000. The casual range is priced between Rs 7,349 - Rs 12,000. The golf range, for men and women is priced at Rs 10,399 - Rs 26,999 and Rs 6,399- Rs 10,299 respectively.
General Motors plans cheaper Corsa
Posted on July 19, 2005
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With an aim to strengthen the brand amongst middle income buyers, General Motors (GM) has decided to introduce a cheaper version of Opel Corsa. The variant, Opel Corsa 1.4 Elite, will be introduced this week with a price reduction of over Rs 50,000-80,000 from the existing ones which are priced in the range of Rs 5.88-6.26 lakh.
Todays leading brands by General Motors Chevrolet Optra (Rs 8.7-12 lakh) was launched in September 2003 and Tavera (Rs 6.7-10.80 lakh) in May 2004. General Motors so far has been able to sell about 17,000 Optras and 18,120 Tavera.
General Motors has set a target to sell 38,000 Chevrolets by December this year. The aotumobile major is trying to expand its brand equity with Chevrolets.
These cars, from the General Motors-Daewoo Automotive Technologies (GM-DAT) stable, are making inroads into Europe and other developing markets such as India wearing the Chevrolet badge.
LIC & SBI, front runners for UTI
Posted on July 19, 2005
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The Government of India is no mood to sell UTI Mutual Fund to any private player and has insisted that one of the existing sponsors buy it by this fiscal. Finance Ministry has appointed SBI Capital as the merchant banker to carry out the valuation of the country’s largest fund house that manages assets worth Rs 22,000 crore.
Unit Trust of India AMC may be sold to the highest bidder among the four existing sponsors — State Bank of India, Life Insurance Corporation, Punjab National Bank and Bank of Baroda out of which Life Insurance Corporation and State Bank of India appears to be the front runners . Top officials of these leading brands in their respective segments have given a presentation to the Ministry of Finance last week on the future course of action for the country’s largest fund house including buying out the stakes of other players.
Unit Trust of India AMC has been one of the fastest growing funds in the country and targets Rs 26,000 crore in AUM by the end of this fiscal, a growth of over 25 per cent. The fund is now geared up to expand its branch network to 15 more cities this fiscal over and above the 56 cities they are already into. Unit Trust of India AMC plans to expand its branch network to 100 cities in the next two years.
Bagga plans high sales for Khodays Liquor
Posted on July 19, 2005
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Bagga Millennium Liquor India Pvt Ltd, which grabbed the marketing and distribution rights of the Khodays liquor brands on long lease, is expecting volume sales up to 2.5 million cases in 2005-06.
Bagga’s initial focus is on Red Knight Whisky, a semi-premium brand, which is attempting a comeback in markets such as Haryana and Punjab, where it once enjoyed good share. The brand is averaging about 70,000 cases monthly, and its sales for the full year should be in the vicinity of a million cases.
Along with Red Knight Whisky, the other brands receiving initial focus include Peter Scot Whisky, which is expected to mop up sales of 2.5 lakh cases in the current year, and the economy priced Democrat Whisky.
Tata Tea plans sale of six estates
Posted on July 19, 2005
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After divesting 17 tea estates of South Indian plantations in favour of workers, Tata Tea the leading tea brand has now turned its focus on the remaining six estates in the south India and was weighing a completely different option, most likely an outright sale. Out of the remaining six estates one is in Kerala and the rest in Tamil Nadu.
Tata Tea’s plantations in southern India were located in the Western Ghats in the western part of the state of Kerala and adjoining part of the state of Tamil Nadu. The former, in Idukki district of Kerala, were located in an area knwon as the Kanan Devan Hills.
The brand managed to get almost a 97 per cent participation from the workers. The other estates in the Coimbatore district of Tamil Nadu and one estate in the Trichur district of Kerala formed part of the Anamallais plantation area. On the branded business front, Tata Tea was reassessing the business. Tata Tea has already restructured the brand, “Agni“.
Silver Smith opens 1st retail showroom
Posted on July 19, 2005
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Silver Smith India Ltd. has launched its first retail showroom under the brand name of “Niche” on Monday in New Delhi.The company hoped to make “Niche” household name and trend setter in the jewellery segment.
Silver Smith India - listed on all major stock exchanges in India - was incorporated in 1994 to process raw silver and gold into value added jewellery items at its fully automated and integrated manufacturing facilities.