Infosys after market hours on Monday, 9 December 2013, announced the launch of TradeEdge, an insights-driven sales platform which provides visibility to global brands across the demand chain - from distributors to consumers. The new platform delivers insights that help brands accurately sense and fulfill consumer demand while significantly improving sales and operational performance. A cloud-based platform, TradeEdge provides brands one of the most affordable ways to expand reach in the emerging markets, the company said in a statement.
Sanjay Purohit, Senior Vice President and Global Head - Products, Platforms and Solutions, Infosys: "For global brands, the next billion consumers will come from the emerging markets. To accelerate profitable growth, brands need to know these markets better, reach customers faster and do so at lower costs. Designed from the ground up for the emerging markets, Infosys TradeEdge is already helping 10 global brands gain visibility into sales opportunities of more than $20 billion in over 70 countries."
NMDC after market hours on Monday, 9 December 2013, said that it sold 185.46 lakh tonnes of iron ore in during the first eight months of the ongoing fiscal year ending March 2014. Production of the state-owned firm stood at 173.44 lakh tonnes in the same period, April-November, it said in a statement. The price of lumps stood at Rs 4,500 a tonne and Rs 2,810 a tonne for fines for December 2013, the company said.
ONGC turns ex-dividend today, 10 December 2013, for an interim dividend of Rs 5 per share for the year ending March 2014.
Telecom stocks will be in focus as the Union Cabinet on Monday, 9 December 2013, approved the finalisation of the reserve price for auction of spectrum in 1800 MHz band for all service areas and for 900 MHz band in Metro service areas of Delhi, Mumbai and Kolkata. As recommended by the Empowered Group of Ministers, the Cabinet approved the reserve price for 1800 MHz band of Rs 1765 crore per MHz Pan India, which works out to be Rs 8825 crore for 5 MHz Pan India; and the reserve price for 900 MHz band of Rs 360 crore, Rs 328 crore and Rs 125 crore per MHz in Metro service areas of Delhi, Mumbai and Kolkata respectively. The decisions will result in further efficient utilization of the scarce natural resource of spectrum facilitating expansion of telecom services in the country.
The board of directors of Strides Arcolab holds a meeting today, 10 December 2013, to consider declaration of special dividend. The board is considering payment of special dividend after the company last week said it has completed sale of its Agila Specialties Division to Mylan Inc. for a total consideration of up to $1.75 billion.
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State Bank of India (SBI) after market hours on Monday, 9 December 2013, said that the Government of India (GoI), on Monday, 9 December 2013, has accorded its approval to SBI to raise Rs 9576 crore of equity during the financial year (FY) 2013-14 from the market by way of Qualified Institutions Placement (QIP) as per law with the condition that the Gol holding shall not come down below 58%. The GoI has also accorded its approval to SBI to increase its Issued Capital by Rs 11576 crore [Rs. 2000 crores (including premium) towards preferential allotment of equity shares in favour of Gol and Rs 9576 crore (including premium) towards raising of equity from the market] in accordance with Section 5(2) of SBI Act, 1955, subject to requisite approvals.
Future Consumer Enterprise (FCEL) after market hours on Monday, 9 December 2013, announced that it will be launching one of the world's leading food and beverage brands, Sunkist, in India. FCEL has entered into a long term agreement with California-based Sunkist Growers, Inc., a leading international licensor and the most widely recognized name in the citrus category, to manufacture, market and sell fruit juice, fruit juice drinks, sparkling beverages and a range of other food products under the world-famous Sunkist brand in India.
Commenting on the development, Mr. Kishore Biyani, Group CEO, Future Group said, Sunkist, one of the most recognized and respected fruit brands, is an addition to the list of winning FMCG products in our portfolio. The introduction of Sunkist products in India will also mark the company's entry into the general trade, making FCEL one of the fastest growing Indian consumer goods company.
Mark Madden, VP Licensing, Sunkist Growers, LLC said, We at Sunkist are very pleased to enter this agreement with the Future Group, as it will increase our distribution and recognition in India, a very important region in the global marketplace. With its vast retail presence in India, FCEL brings a deep understanding of Indian consumers to this partnership that believes will help Sunkist secure a place among the top FMCG brands in India.
Sunkist Growers is a citrus marketing cooperative, founded in 1893, which is owned by and operated for thousands of family farmers growing citrus in California and Arizona.
Venus Remedies after market hours on Monday, 9 December 2013, said that it has signed a memorandum of understanding (MoU) with South African pharmaceutical firm Austell Laboratories to exclusively outlicense its flagship product, Elores, in South Africa.
A novel antibiotic adjuvant entity that effectively counters serious hospital-acquired infections caused by multidrug-resistant extended-spectrum beta-lactamase (ESBL) and metallo-beta-lactamase (MBL) - producing gram negative bacteria, Elores is likely to be launched in South Africa by mid-2015, Venus Remedies said in a statement.
Venus Remedies said that the overall systemic and antibacterial market of South Africa is worth $275 million and growing at a compound annual growth rate (CAGR) of 10.5%. Elores will cater to the needs of about 40% segment of this market. Venus Remedies said it is projected to generate cumulative revenue of $20 million within five years of the launch of Elores in South Africa.
Globally the systemic antibacterial market, which is growing at a CAGR of 7.2%, is set to reach $44 billion by 2016, Venus Remedies said. The infections caused by multidrug-resistante ESBL/MBL-producing gram negative bacteria which Elores is capable of fighting comprise 25% of this market, thus creating a tremendous opportunity for Venus Remedies, the company said in a statement.
Asahi Songwon Colors said that a meeting of its board of directors will be held on 19 December 2013, to consider proposal related to arrangement and business re-alignment.
AksharChem India after market hours on Monday, 9 December 2013 said that a meeting of its board of directors will be held on 19 December 2013 inter alia, to consider proposal related to arrangement and business re-alignment.
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