Post the offer, GSK's holding will be 75 per cent from the present 43.2 per cent.
Fresh meat and seafood delivery unicorn Licious is intensifying its talent acquisition endeavours as it pursues profitability and readies for an initial public offering (IPO) within the next 24 months. Delightful Gourmet, Licious' parent company, has named 39-year-old Karishma Gupta as its new chief financial officer (CFO). Her appointment aligns with Licious' drive for profitable growth through an omnichannel strategy.
There is no near-term respite for the country's largest fast-moving consumer goods maker, Hindustan Unilever (HUL), which is facing multiple challenges on the growth front. With demand showing no signs of improvement, especially in the rural segment, the October-December quarter (Q3) of 2023-24 (FY24) is likely to be similar to the previous quarter, with volume growth in the low single digits. The stock, which is down 7 per cent over the past year compared to the 11 per cent jump for the S&P BSE Sensex, could underperform the benchmark in the near term as well.
The NPPA letter was issued to GSK on Wednesday.
Amway surged by converting a multitude into sales agents.
The sensitivity segment has quadrupled in the past two years, due to the aggressive marketing effort of both GSK and Colgate.
FMCG major HUL on Friday announced the appointment of Rohit Jawa as the managing director & chief executive officer to succeed Sanjiv Mehta who will retire from the company after leading it for a decade. Jawa, presently the Chief of Transformation for Unilever, would take over the leadership role for a term of five consecutive years with effect from June 27, 2023, the company said in a statement. "The appointment of Rohit Jawa as a whole-time director and MD & CEO will be subject to approval of Shareholders and other statutory approvals as may be applicable," it added.
Given the strong prospects in the business, analysts expect the company to clock healthy growth of 15-20 per cent, going ahead.
Open offer to increase holding to 75%, fails to enthuse institutional investors.
Horlicks widens brand appeal in increasingly competitive market.
As competition heats up, health drink brands like GSK, Mondelez, Nestle get more aggressive with promotions and promises.
While a merger means HUL taking over GSK Consumer's assets, including its employees, any mention of retention of employees beyond the merger is missing in the deal.
FIIs have offloaded shares of Bajaj Corp, Nestle, Jyothy Laboratories and Britannia.
GSKAP takes care of all non-nutrition products whereas GSK Consumer Healthcare is a listed entity which deals only in nutritional products.
Other Health Food Drinks brands of GSK -- Boost, Maltova and Viva -- would come to HUL's portfolio by virtue of the merger, making it a leading player in the segment.
ITC on Monday said it is conducting more tests on its products at accredited labs across India.
ITC has provided retailers with leaflets to assure customers of Yippee noodle's quality and safety standards
In separate statements, the two companies said they will combine Novartis' over-the-counter division with GSK's consumer business, creating a new world-leading consumer healthcare business with $10 billion in annual sales.
Growth in cities has lagged villages as consumers troubled by persistently high inflation have cut spending in the past two years.
Anglo-Dutch parent's stake in Indian subsidiary rises from 52.5% to 67.3%.
A probe finds several pharma majors in breach of the law; and in turn they blame the government.
This goes a long way in creating an ethical organisation culture that in turn helps attract talent.
On Tuesday, Novartis agreed to buy GSK's oncology products business for $14.5 billion, while selling its vaccines business, excluding flu, to GSK for $7.1 billion.
Some big ones hoard cash unduly and others borrow to keep up payments to shareholders
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