Indeed, where other industries complained of poor demand, festival season sales for consumer electronics grew 30-35 per cent year on year, boosting average growth for the year from 7-8 per cent to 10 per cent. In fact, it was the durable sector which drove industrial growth of 4.8 per cent in September.
Hindustan Unilever, GlaxoSmithkline Consumer Healthcare, Godrej Consumer Products, Dabur, Nestle and other FMCG companies are lining up initiatives to maximise returns from modern trade channels including hypermarkets and supermarkets.
Within months of charging the moon, Indian real estate firms are now offering buy-back of properties, free cars and even free apartments to tide over the current slump which has seen sales halve from the beginning of the year.
The Boston Analytics Consumer Sentiment Index for August fell below the benchmark value of 100 since its inception, signalling a low-key festive season ahead.
Mutual fund investors in equity schemes are not yet rushing to redeem their units but inflows have dried up substantially, said mutual fund distributors.
Mature markets globally have either become saturated or have slowed down. The emerging markets have therefore become strategically important for these companies. The contribution of Indian operations to the global sales of these multinational behemoths is still small -- 1.5 to 3 per cent -- but this share is bound to grow given the buoyancy in the Indian market.
In a bid to tap the growing demand for premium international spirits in India, global spirits major Bacardi Martini plans to introduce more brands from its international portfolio. Bacardi Martini India is a 76:24 joint venture between the global major and Indian firm Gemini Distilleries.
Dhirubhai sells. Against All Odds, a book on the life and times of Dhirubhai Ambani by advertising veteran A G Krishnamurthy, is trying to ride on the success of an earlier book on Dhirubhai by the same author.
JWT, Crayons in race for Congress account, BJP calls for a pitch.
Vijay Mallya-owned Kingfisher Airlines, which plans to raise $400 million from private equity investors, may have to settle for structured finance such as sale and leaseback or securitisation of receivables, say private equity experts in Mumbai.
While stable raw materials prices have spelt relief for most FMCG companies, they are still having a tough time in defining the future pricing strategy. Most have indicated that input costs have hit their margins, while others maintained that if inflation continued unabated, there would be a further correction in prices. Many FMCG companies have either raised prices or reduced the size of their products to combat the rise in farm commodity prices and packaging costs.
Projects having loans with floating interest to take the hit. Hindustan Construction Company, GVK Group and other construction firms may have to settle for lower returns from their projects as rising interest rates are expected to hurt profitability of roads, power, ports and airports.
Dabur's international business stands at around Rs 380 crore (Rs 3.8 billion), out of which Nepal accounts for Rs 40 crore (Rs 400 million), while Pakistan contributes around Rs 10-12 crore (Rs 100-120 million). However, the bulk of Dabur's international business comes from the GCC (Gulf Cooperation Council) countries and Africa.
The whole country broke into an impromptu celebration and by the evening, four state governments had announced cash rewards that added up to Rs 1.4 crore. Cash-rich BCCI also announced a reward of Rs 50 lakh for Bindra and Railway Minister Lalu Prasad issued him a lifetime AC first-class travel pass. Not to be left behind, budget carrier SpiceJet gave him free unlimited travel for life.
Monetary tightening by the Reserve Bank of India to control the sharp rise in prices has checked the march of Indian consumers up the consumer electronics value chain.
First-quarter results of several big companies such as Reliance Industries, Reliance Communications, Bharti Airtel and Jet Airways would have been a lot worse had they followed the Accounting Standards 11 rules prescribed by the Institute of Chartered Accountants of India.
Price-wary customers, waiting for good bargains in the festival season this year, are likely to be disappointed.
Even as several SEZs are struggling to get off the ground, the Mahindras have managed to kick off their second SEZ at Jaipur, after their first one in Chennai.
Companies are reactivating their dormant fixed deposit schemes by realigning their interest rates with the market following the footsteps of the lenders. The Reserve Bank of India has raised its benchmark interest rate to 8.5 per cent - the highest in more than six years - to stem inflation, forcing the banks to raise their prime lending rate to as high as 15.5 per cent.
With an aim to increase its exports business, biscuit maker Britannia Industries is betting big on new international markets.
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