Renault to raise vehicle prices from January
Renault said it will increase vehicle prices in India from next month to offset the impact of high input costs. The companys wholly owned subsidiary Renault India sells five models in India, including the sports utility vehicle Duster and compact car Pulse. Due to unavoidable macro-economic factors such as increasing rates, input costs, Renault India will increase prices across its product range in January, Renault India executive director (sales and marketing) Sumit Sawhney said.
Mercedes launches centre of excellence
Mercedes Benz on Wednesday launched its centre of excellence in Pune, making India one of the very few markets where the company has such an in-house centre for customisation and experience for its high performance models. Mercedes Benz VP for global sales Matthias Lurhs said this experience for customers will ensure that they live the companys complete brand experience and are able to personalise speciality cars to suit their taste and preferences.
InterGlobe announces leadership appointments
InterGlobe Enterprises, the parent company of IndiGo airlines, on Wednesday said that it has appointed Anil Parashar as the the president and CEO of its group company, InterGlobe Technology Quotient and JB Singh as the pand CEO of InterGlobe Hotels, another company owned by the group.
Magzter raises $10 million in series B funding
Magzter, a digital magazine store and newsstand, has announced that it has raised $10 million in a round of series B funding. This funding was led by a wholly-owned subsidiary of Singapore Press Holdings and its existing investor Kalaari Capital. The funding will be utilised for expansion and entry in to digital books. Magzter co-founded by Girish Ramdas and Vijayakumar Radhakrishnan in 2011 aim to have 1 million digital books available on its platform by early 2014.
Zivame.com raises $6 m from Unilazer, others
Ronnie Screwvala-promoted Unilazer Ventures and others have invested $6 million in series B funding in an online lingerie marketing company, Zivame.com. Existing investors IDG Ventures and Kalaari Capital Partners have also participated in this round. Bangalore-based Zivame.com is founded and led by Richa Kar, a BITS Pilani and NMIMS alumnus. The brand is aiming at online sales of R1000 crore in the next four to five years.
Traders have resumed purchase: GSK Pharma
GlaxoSmithKline Pharmaceuticals said on Wednesday that traders resumed the purchase of the companys products across India since last week of November. Glaxo had said in October that major pockets of India were not buying its products from September 15. The companys Q3 FY14 net sales fell 7% to R620.54 crore, compared with Q3 FY13, as a result of the traders not buying its products and the effect of the pricing controls brought on by the amended National List of Essential Medicines.
Ramco Systems forms alliance with WNS
Ramco Systems has entered into an alliance with BPO major WNS, targetting the human resources outsourcing (HRO) marketplace across industries. The joint offering will initially focus on the North American and European markets. Built on Ramcos VirtualWorks platform, the human capital management (HCM) suite will draw upon WNSs expertise in people management practices and process management, and Ramcos cloud-based technology to provide systems and managed services to clients.
Air Costa adds new flight routes
Air Costa has announced addition of new routes to its service. These include Chennai-Hyderabad, Hyderabad-Jaipur, Jaipur-Hyderabad and Hyderabad-Chennai routes. The airlines existing routes serve Vijayawada, Chennai, Jaipur, Ahmedabad and Bangalore.
India Inc strikes deals worth $27 bn in Jan-Nov
India Inc announced mergers and acquisitions deals worth $1.31 billion in the month of November, taking the 11-month tally this year to $26.76 billion. According to tax and advisory firm Grant Thornton, corporates in the country announced 458 deals in the January-November period amounting to $26.76 billion.