Ahmedabad-based Torrent Group has completed the acquisition of a majority 67 percent stake in Indian Premier League (IPL) franchise Gujarat Titans.
Dabur India is expected to announce the highest ever 125-150 per cent dividend as well as the swap ratio for the proposed demerger of pharma and FMCG businesses at its board meeting scheduled to be held in New Delhi on Friday.
Sources close to the development said this could happen at a meeting of the company's board of directors on Thursday.
The race to acquire diversified fintech firm Religare Enterprise Limited (REL) intensified as Dabur group promoters, the Burman family, said it was going ahead with the open offer on Monday and claimed that the counter offer made by US-based businessman Digvijay Gaekwad wasn't valid and will not stand scrutiny of market regulator Sebi. The Burman family claimed that the competing offer falls outside the 15-day window stipulated by the Sebi takeover code, following their initial offer on October 4th, 2023.
Fast-moving consumer goods (FMCG) companies are expected to witness pressure on volumes in the October-December quarter. However, price hikes will help push up revenues, said brokerages.For India's largest engineering firm, Larsen and Toubro (L&T), the analysts expect a 20 per cent growth in consolidated revenue, and an 8.1 per cent core business Ebitda margin, up 40 bps from a year ago.
The company has also entered into an agreement with Pogo under which Odomos will use the image of Pogo's character Chota Bheem to adorn the wristband and mosquito repellent patches.
'Merely keeping low price may help in the lower segment initially but people have become much more aware and careful about their health and it will eventually determine value for money.'
Burman had sought permission to travel to Dubai from May 3-7.
The stores will house everything from cosmetics and beauty products to healthcare and wellness products from a wide range of companies like P&G, Dabur, Hindustan Unilever and Johnson & Johnson. At the same time, they will also offer prestige products like Lancome, Clinique and MAC.
Dabur is likely to launch these new products in the beginning of the next fiscal.
Dabur India on Thursday announced the acquisition of Balsara Hygeine and Home Care businesses for Rs 143 crore (Rs 1.43 billion) and said it would look at more buyouts to capitalise on the consolidation in the sector.
In its petition before the Delhi high court, Dabur alleged that the US-based company is infringing on the trademark of its skincare range, Uveda, which is also based on Ayurveda therapy.
Beaming with its successful Rs 143 crore (Rs 1.43 billion) acquisition of Balsara group of companies, Dabur India on Thursday said takeover would be a significant part of its growth strategy as it had resources to acquire fairly 'large sized compani
Homegrown FMCG major Dabur on Tuesday said it would finalise plans within the next six months to set up a manufacturing unit in Pakistan through a joint venture. "We hope to conclude discussions soon... in the next six months," Sunil Duggal, CEO, Dab
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.
Dabur India on Tuesday said it was planning a Rs 22 crore (Rs 220 million) investment in capacity expansion this fiscal to set up new manufacturing units and has identified Vatika as the umbrella brand for the fast moving consumer goods business.
Leading FMCG companies reported a decline in margins in the September quarter on account of higher input costs and food inflation, which ultimately slowed down the pace of urban consumption. Rising prices of commodity inputs such as palm oil, coffee and cocoa were also accentuated and some FMCG firms have hinted at a price hike. HUL, Godrej Consumer Products Ltd (GCPL), Marico, ITC, and Tata Consumer Products Ltd (TCPL) have expressed concerns over squeezing urban consumption, which according to industry experts forms 65-68 per cent of FMCG total sales.
Dabur's acquisition is in line with its strategy to build a global presence in the international FMCG market.
FMCG major Dabur said it has completed the acquisition of the US based personal care firm Namaste Group for $100 million (about Rs 451 crore) in an all-cash deal. "The company's wholly-owned subsidiary Dermoviva Skin Essentials has completed the acquisition process by acquiring 100 per cent stake in leading personal care companies of Namaste Group, US," Dabur said in a statement.
Dabur is in advanced negotiations with the US company, and is likely to close the deal shortly. The deal size is in the region of Rs 500 crore.
As a part of its overseas expansion, homegrown FMCG major Dabur will set up an integrated plant in UAE with an investment of about Rs 20 crore (Rs 200 million).
Fast moving consumer goods company Dabur is planning to acquire more companies in the healthcare segment in India and could spend up to Rs 500 crore for the buyouts.
The Burman family is in talks to buy less than 26 per cent stake in Espirito Santo India.
These Indian companies truly defined the essence of entrepreneurship.
Having already put in place an elaborate mechanism for self-evaluation of its board members, Dabur India said on Thursday that it will adopt a comprehensive whistle blower policy in the January 28
Already a fifth of the nearly Rs 8,000 crore toothpaste market in India (around Rs 1,500 crore) is herbal with the segment estimated to become a fourth (or Rs 2,000 crore) in the next few years.
In a statement, an Air India spokesperson said a passenger travelling in business class was off boarded on the advice of the captain following some argument with members of the crew before the scheduled pushback.
Religare Enterprises, a financial services firm, has disclosed that the Reserve Bank of India (RBI) turned down its application to appoint Rakesh Asthana as its whole-time director in May this year without citing any reasons. Asthana is a former top official of the Central Bureau of Investigation (CBI). In a notice to the stock exchanges, Religare said that while the company and Asthana were weighing the options of dealing with the letter of refusal by the RBI, it was also busy in preparing for the "herculean task" of making ready multiple applications to regulators.
Dabur to consider demerger of pharma biz
... resulting in a Rs 2 trillion economic spinoff.
In a clear indication of things to come, homegrown FMCG major Dabur India has decided to increase prices 5 per cent across most product categories to accommodate the sharp rise in the price of flexible packaging material made of polymers. This is the sharpest price rise effected by the company in eight years.
As Ayodhya readies itself for the glittering, much-awaited consecration ceremony of the Ram Mandir on January 22, and as millions of pilgrims and devotees pour into the holy city for the momentous event, companies are rushing to do their bit and be a part of the mega celebrations. Some are offering a part of their profits as donations, telcos are beefing up the number of cellular towers to ensure better connectivity, and there are those distributing jalebis and food platters.
Fast-moving consumer goods (FMCG) companies anticipate sustained volume pressures in the January-March quarter (Q4) coupled with sluggish rural growth during the period. Brokerages estimate top-line growth to be in low single digits in the quarter. Also, the late onset of winter had an impact on demand for winter products which range from moisturisers to hot beverages.
With a gradual rise in temperature and the start of heatwave, FMCG and dairy firms selling cola-based fizz drinks, juices, mineral water, ice creams and milk-based beverages expect a spike in sales and have ramped up their production and stocks to meet the anticipated consumer demand. The makers are launching new products keeping in mind the evolving consumer preferences and also investing substantially on promotions and expansion of the channels this season, company executives of beverage and ice cream makers said. Beverages major PepsiCo said summer months are naturally the most favourable season for its category and it is "optimistic" that its portfolio of brands will continue to delight consumers during the period.
Equity investors will track the trading activity of foreign investors, global trends and ongoing earnings results for further cues, and benchmark indices may continue to witness consolidation in a holiday-shortened week amid the monthly derivatives expiry, analysts said. Markets fell sharply last week amid massive foreign capital outflows and dismal Q2 earnings so far. Weakness in the markets might continue in the near term amid cautiousness among investors ahead of the US presidential election early next month, an expert said.
