IIFL AMC appoints Prashasta Seth as CEO
India Infoline Asset Management Company has appointed Prashasta Seth as its chief executive officer. Seth has over 14 years of experience and served with the IIFL Group for the past six years. He has been managing and advising pooled assets and client portfolios, specifically focusing on developing investment strategies, generating stock ideas and creating actionable research reports. the company said.
MFs sell shares worth R14,000 crore in FY14
Mutual funds offloaded shares worth more than R14,000 crore in FY14, making it the fifth consecutive year of net outflows. As per the latest data compiled by Sebi, mutual funds sold shares worth R14,208 crore during the last fiscal, lower than the R22,749 crore offloaded in the preceding financial year.
ABB bags $18-million contract from PowerGrid
Power and automation technologies provider ABB has bagged an $18-million order from Power Grid Corporation to construct a 400-kV gas-insulated switchgear (GIS) substation at Kolhapur in Maharashtra. The new substation will help strengthen the inter-regional grid between the western and southern regions, a statement stated.
Woodland to open stores in Tier-II and III cities
After consolidating its presence in big cities in the domestic market, footwear and apparel firm Woodland plans to focus on Tier-II and III cities over the next 2-3 years as part of its growth strategy. The company plans to open 60 stores in the country in Tier-II and III cities, according to Woodland India MD Harkirat Singh.
Virgin Atlantic promises goodies to voters
British carrier Virgin Atlantic has promised goodies, upgrades and lounge access if flyers show their ?inked? fingers at the check-in counter on Thursday when Delhi and some other states go to polls. ?All passengers with the recognisable ?inked? finger will enter a draw for prizes, which include cabin upgrades, lounge access and exciting goodie hampers. All that the passengers need to do is exercise their right to vote before they travel on Virgin Atlantic?s Delhi-London flight on April 10,? said a Virgin Atlantic official.
Piramal inks sales pact with Merisant India
Piramal Enterprises has inked a pact with Merisant India to distribute the company?s artificial table-top sweetener brand, Equal, in the country, it said in a statement. The deal enables Merisant, a Chicago-based global market leader in table-top sweeteners, to tap into Piramal Enterprises’ strong distribution network in India, it added.
?Biz optimism index for Q2 2014 rises 9.1%?
Business Optimism Index for the second quarter of this year has improved as there has been a positive shift in India Inc?s sentiment despite the economic uncertainty, says a Dun & Bradstreet report. BOI, which measures the pulse of the business community, stands at 154.5 for Q2 2014, an increase of 9.1% compared to Q2 2013.
Anil Kapoor set to launch entertainment co in Dubai
Bollywood actor-producer Anil Kapoor is set to launch a global entertainment company in Dubai. According to a report, the company will be named Antila Ventures and will have its headquarters in Dubai. ?This entertainment company will contain different verticals, ranging from content creation, filmmaking, state-of-the-art studio, talent management and acquisition to digital media as his gateway to international markets,? Kapoor said.