Marriott International is looking to make deeper inroads into leisure destinations as it seeks to make the most of domestic travellers' pent-up demand, said the company's top official. The world's largest hotel operator will add seven new properties in India in 2021, five of which will be in leisure locations - two in Goa, and one each in Mahabaleshwar, Thiruvananthapuram, and Dehradun.
Bajaj Auto has amended its dividend distribution policy as it seeks to reward its shareholders and boost return ratios. The amended policy will also consider the surplus the company has when calculating the dividend payout as a percentage of profits after tax, the Pune-based firm said in a stock exchange filing on Thursday.
Recently, Suzuki Motor Corp (SMC) in an investor presentation expressed strong intent to enter the electric vehicle (EV) space. This is part of a larger strategy the Hamamatsu-based firm has drawn up in developing electrification of technologies as it seeks to achieve carbon neutrality. The significance of this presentation is that it marked the first time that the Japanese carmaker spelt out its EV strategy with well-defined timelines. SMC plans to develop electrification technologies by 2025, fully implement them in products from the same year, and make a full-scale quantitative increase from 2030.
The local arm of the Japanese two-wheeler manufacturer accounts for every second scooter sold in India.
Employees of some top Indian companies were in for a pleasant surprise when they received a mail from their HR team announcing a hike in salaries and bonuses. Led by IT firms and start-ups, HR managers say that while some have offered cash and stock options, others are in a wait-and-watch mode and add the trend will pick up in other sectors. For example, IT giant Cognizant - which had an attrition rate of 19 per cent in the December quarter - has established a $30-million employee retention fund in order to bring down the high attrition rate.
Maharashtra's Labour Minister Dilip Walse-Patil has sought a written submission from the General Motors' (GM) Employees Union and the management of the company detailing its stance on the issue of plant closure. The labour minister asked the warring sides for submission at a hearing on Tuesday. Both sides have been given a week's time to reply.
About 50,000 truckers, most of whom are single-truck owners, could be thrown off their businesses due to the recent fuel price hike. "Already the vehicle supply on the road is higher than the requirement. "With the fuel price hike, fleet owners will look to cut down fleet size wherever needed and due to this, small single-truck owners could be at the receiving end," Ashok Goyal, managing director at BLR Logistiks (I) Ltd said. The company has a fleet of 500 vehicles of all types-small, medium and large with pan-India presence.
The move is significant since it signals the growing importance of foods in Marico's overall strategy. It also comes six months after Marico stepped into honey, a Rs 1,500-crore category dominated by players such as Dabur.
IPL 2020 was the first sports tournament to surpass 400 billion viewing minutes.
Mercedes-Benz India, BMW India and Audi India have lined up over 50 new model launches as they seek to recoup previous year's loss in volumes, reports Shally Seth Mohile.
Increase in occupancy will pave way for Hindi blockbusters to release, say multiplex operators.
60-65 per cent of the FMCG industry's overall sales come from urban areas; 35-40 per cent from rural areas.
'There is pent-up demand for cricket after last year when no tournaments were played on Indian soil due to the pandemic.'
'It has the potential to add half a trillion dollars to the economy over the next five years.'
The electric vehicle evolution in India's passenger vehicle market has remained frozen in time and may see limited adoption over the next decade, experts say.
Organised players have been the biggest beneficiaries after the lockdowns were lifted. Given real estate is not as expensive now, players want to take advantage of the trend.
The Three-Pointed Star also unveiled its 2021 motto coined as 'Reimagining Excellence', which aims at making the brand more desirable and drawing customers closer.
Sebamed's campaign for its cleansing bar of the same name, released across print, television, digital and outdoor, has also named Santoor, a popular soap brand from Wipro Consumer Care.
The venture, they said, would focus on technology and media opportunities in emerging markets. Industry sources said the focus would be on digital media, with India being the big driver.
Firm attributes move to pandemic and legal spat with Fiat Chrysler, says it is in line with group's strategy to re-think capital allocation and drive efficiency.
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