MIRC, which was struggling to survive just two years back, is on an overdrive to shed its image of just another TV company.
Onida's entry into mobile phones a year and a half ago has been a low-key affair. But not any longer, courtesy its television advertisement which plays on the brand name Nokia phonetically.
With the new focus, the firm is doubling its advertising and marketing spending to Rs 100 crore this year on new campaigns for its products.
Mirc Electronics, the manufacturer of Onida brand of consumer electronics, is looking for overseas acquisition opportunities to beef up its research and development capabilities.
The company's 'devil' ad campaign, whose tagline was 'neighbour's envy, owner's pride, was a rage at one point in time, but the Indian multinational feels it has outlived its objective due to change in taste and financial capability of the consumer.
Nine employees, including an assistant general manager, were charred to death when a major fire broke out in the factory of Onida, an electronics manufacturing company, at Mandawali in Manglaur area of Haridwar district, the police on Thursday said.
According to a late evening filing with the National Stock Exchange, Gulu will buy the 33.3 per cent stake held by Sonu's wife for about Rs 110 crore (Rs 1.1 billion). The proposed deal will increase Gulu's stake in the holding entity from 27.77 per cent to 61.07 per cent. Guvisco owns a 52.74 per cent stake in Mirc, which manufactures the Onida brand of consumer goods. Onida has a share of 8-10 per cent in the Rs 14,000-crore (Rs 140-billion) colour television market.
A major fire broke out in Britannia Industries' Pantnagar manufacturing plant on Sunday destroying thousands of tons of biscuits. However, no one was killed or injured in the fire which broke out around 1230 hours in the biscuit division of the factory, Senior Superintendent of Police (SSP) Udhamsingh Nagar (district) Manjunath T C told Business Standard after the firefighters put the fire out. "With the help of 15-20 fire tenders, we were able to control the fire which was very major," Manjunath said.
Starting with a family, which had a dealership of Bajaj Auto's scooters, to becoming the owner of a household name in consumer appliances who could afford to have Bollywood superstar Shah Rukh Khan as the brand ambassador, Venugopal Dhoot's is a story of an aggressive small town businessman's pursuit to be on the top. Now arrested in connection with the ICICI Bank loan fraud case, Venugopal Dhoot during his heydays was not the one to simply sit on small achievements like Videocon becoming the largest television set manufacturer in India.
With the Central Government making it mandatory for consumers to switch to CAS in select parts of major metros, Onida is planning to launch LCD televisions that have an embedded technology to encrypt digital signals.
Bangalore-based information technology company Mphasis BFL Ltd will acquire Onida Infotech Services, a division of MIRC Electronics Ltd, for Rs 3 crore in an all cash deal.
Indian consumer durable market faces competition from Korean dealers.
The government on Wednesday said cases where products belonging to popular Indian brands like Natraj Pencil, Boroplus antiseptic cream, Raymond, Onida etc., are being copied and sold in China have come to light.
The list of companies include big names such as Colgate-Palmolive, Hero, Maruti Suzuki, Hyundai, Videocon, Onida, Arvind Mills, Nokia and Mahindra & Mahindra.
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Sasha Mirchandani's tryst with investing began when his own venture failed to seek funding in early 2000s.
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.
This growth seen by the consumer goods was led mainly by the durables market, which rose 17.6%, the highest in 11 months
Faced with an unprecedented bear run, the consumer electronics industry is planning to pull out all stops in generating sales during the upcoming festival season, with heavy discounts, freebies, bundling offers and even dealer junkets.
Belying industry expectations, the colour television market registered a moderate 8.9 per cent growth between January-November last year to touch 65.7 lakh (6.57 million) units, according to the latest data by market research agency ORG.
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Bajaj Auto, said the company might re-enter the scooter market and if and when it does, the iconic Chetak might be revived.
Stock clearing to rain discounts on consumers in June ahead of GST rollout.
Most companies were working on Rs 65-66 to a dollar.
Syed Firdaus Ashraf lists 10 ways in his life has improved under the first Modi Sarkar.
Singing the national anthem and watching patriotic movies on Doordarshan.
Blind spots of the company were two-fold - managing cash flow and investments to upgrade technology and continue research and development.
Sales of refrigerators were higher this year versus last year.
The endorsement career of India's megastar Amitabh Bachchan displays his relevance in diametrically opposite roles and product categories.
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