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Brand

Parag Milk Foods launches fruit juice

Milk producer Parag is entering the high-growth fruit-based beverages market with intentions to achieve double-digit market share in mango drink category in five years. Initially launched in four cities, brand ‘Slurp’ will be rolled out nationally after three months.

Tesla plugs older Model S as new buyers turn to Model 3

Alexandria Sage
Electric-car maker Tesla Inc reported first-quarter revenue that more than doubled, and while saying the upcoming Model 3 was on schedule for July, it downplayed the mass-market vehicle to give a sales pitch for its more expensive Model S.
Chief Executive Elon Musk’s bold approach to cars, space exploration and clean energy has fueled investor enthusiasm for Tesla. But skeptics are waiting to see if Musk can fulfill his promise of producing 500,000 cars per year in 2018, or six times Tesla’s 2016 production.

Ola raises Rs 670cr from Tata-backed fund

SoftBank-backed Ola has raised Rs 670 crore ($104.4 million) in fresh funding from investors including UC-RNT Fund, a venture between the University of California and Ratan Tata. While UC-RNT Fund has pumped in Rs 267.99 crore, another Rs 402 crore has been infused by FO Mauritius I, according to regulatory filing by ANI Technologies – which runs Ola.
But the valuation of the company benchmarked ag­a­i­nst the fresh round of funding could not be ascertained. The said shares were allotted to the investors on March 31, 2017.
An email sent to the firm remained unanswered.

Mahindra pulls the plug on electric car sales in UK

dra & Mahindra has stopped selling electric cars in the United Kingdom due to weak sales and is winding up sales operations there, according to a document seen by Reuters, in a new setback to the Indian automaker's global ambitions.
Mahindra's decision comes less than a year after it launched the e2o car in a market it considered a launchpad for selling electric cars in European countries like Norway, Sweden and the Netherlands.

Investors chase housing fin stocks at near lifetime highs

Most housing finance company stocks are near their life time highs as investors make a beeline for these companies against the backdrop of the massive housing demand in the world’s fastest growing large economy.
An analysis of returns given by stocks of top housing finance companies (HFCs) by market capitalisation shows year-to-date (YTD) returns of top HFCs to be in the range of 30 to 90 per cent. Their annual returns are even better, and in the range of 45 per cent to 125 per cent.

Affordable housing pushes growth in HFCs

As the government makes an all-out effort to ensure that the goals of ‘Affordable Housing for all by 2022’ are met, the housing finance sector is witnessing a big boost to its prospects. In addition, softening interest rates and correcting property prices are making investors bet big on housing finance companies.
With several housing finance companies (HFCs) focusing on the low income group customer segment, housing finance companies would benefit immensely from the scheme which would help accelerate their growth further.

Paytm may get $1.4b funding from SoftBank

SoftBank Group Corp is in talks to invest about $1.4 billion in India’s One97 Communications in a deal that would value the owner of the country’s largest digital-payments provider at about $7 billion, according to people familiar with the matter. The deal is not yet finalised and the terms may yet change, said the people, asking not to be identified because the matter is private. One97 Communications, whose Paytm unit has seen business surge ever since the government announced demonetisation last year, has also had discussions with two other investors, one of the people said.

Uber launches food delivery business UberEATS in Mumbai

Global ride-hailing platform Uber is now getting into the food delivery business in Mumbai, under UberEATS and has partnered over 200 restaurants.
“The introduction of UberEATS in India, with Mumbai as the first city to go live with its food delivery service is a major step in our global expansion strategy,” Bhavik Rathod, head of UberEATS India told PTI.
“We are looking to scale to other big cities including Delhi, Bengaluru, Chennai, Kolkata among others going forward, but we don’t have a timeline at present,” he added.

Modern breads to get a facelift

Private equity firms generally provide growth capital, handhold investee management (mainly in financial decisions) and exit the business at the right time.
However, PE firm Everstone Group has taken a different route – taking up a daunting task of reviving 52-year old Modern Foods brand that popularised breads in India.

Motown reports robust sales in April

India’s largest carmaker Maruti Suzuki India (MSI) posted a 19.5 per cent jump in total sales at 1,51,215 units in April, against 1,26,569 units in the same month last year.
Its domestic sales rose 23.4 per cent during the month to 1,44,492 units compared to 1,17,045 units in April 2016. Sales of mini segment cars, including Alto and WagonR, were up 21.9 per cent to 38,897 units from 31,906 units a year ago, MSI said in a statement.

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