Nachiket Kelkar covers major corporate news across sectors. He loves photography and travelling to off-beat destinations
Articles by Nachiket Kelkar
India’s largest commercial vehicle maker Tata Motors, which has lost some market share to its rivals in recent times, is lining up a slew of launches and huge investment plans to fill the gaps. For Tata Motors, 2017 began with the launch of Xenon Yodha, a pick-up truck.
The battle for shelf space in the FMCG segment is expected to intensify this year as Patanjali’s rivals , led by Hindustan Unilever, are aggressively launching products.
A few days ago, mobile wallet company Freecharge launched a wallet protection plan for its users, in tie-up with Reliance General Insurance
Volatility became the trademark for equities in 2016, with key indices Sensex and Nifty seeing wild swings, and eventually wiping off most of the gains registered during the year.
The note ban and rise in price of key inputs like palm oil has been a double whammy for fast-moving consumer goods (FMCG) firms.
Retailers have launched sales early to make up for the business lost in November due to demonetisation. Typically, the end-of-season sales start from the first week of January. Reliance Trends, Pantaloons, Jashn, Cottonworld, and Seven East among others have already started their sales.
Amid signs of the economy slowing, several firms have called off their initial public offerings (IPOs). The above trend indicates that companies have turned cautious, what with the growth projection down by almost 2 percentage points.
Equity markets are likely to come under pressure on Thursday following the US Federal Reserve’s decision to increase interest rates by 0.25% and signal a faster rate hike going ahead, which could drive more foreign fund outflows.
It was a day of known expectations. But the extraordinary general meeting (EGM) of Tata Consultancy Services (TCS) on Tuesday at the YB Chavan auditorium in Mumbai, ironically a favoured venue for serious theatre and sombre political meetings, saw much excitement.
Updated on Dec 14, 2016 11:49 AM IST
Hindustan Times | ByNachiket Kelkar and Ramsurya Mamidenna, Mumbai
While house prices stagnate due to low demand and rising inventories, the average rent in India’s financial capital Mumbai has risen by 26% between 2012 and 15.
Glaxo Smithkline has been planning to sell 60 acres in Thane near Mumbai for a while now. Its factory in Thane was shut in 2011. The company came close to selling the land in 2014, but the deal fell through due to legal hurdles.
The BSE Sensex, which had traded largely in the green since morning, declined 180 points or 0.7% at 26,212.77 and the wider NSE Nifty was down 39 points or 0.5% at 8,104.40 after the RBI monetary policy announcement.
Most diversified global funds, that put money in various markets in Asia-Pacific, have allocations of about 3% of their total investible funds for India.
The Dubai Land Department says Indians are the largest investors in the Emirates property market after the Arabs.
Tata-owned consumer durables retail chain Croma is shutting down small stores and focusing on larger ones of over 10,000 square feet so it can sell a wider portfolio of products and offer better after-sales service.
The government’s move to scrap Rs 500 and Rs 1,000 currency notes has had an adverse impact in several fast moving consumer goods categories such as biscuits and salty snacks, where sales have declined by up to 40%, according to data from market research agency Nielsen.
MasterCard, one of the world’s largest payments networks, is looking at innovative mobile banking payment solutions to cater to auto rickshaw drivers, carpenters, plumbers and more such people working in the informal sector.
Sanjay Dev, a supplier of traditional Maharashtrian sweets to retailers in Mumbai and other cities, is facing a double whammy following the government’s decision to ban R500 and R1,000 currency notes. Due to the slowdown in demand and the cash crunch in the market, retailers and distributors are placing fewer orders and some even want him to accept older currency notes. While, he can wait for a few more days, he still has to pay his vendors who supply raw materials. And there’s the catch -- They will not accept the old notes and would not even want to wait for long.
Shares of leading realty companies like DLF, Unitech, Godrej Properties, Indiabulls Real Estate, Sobha, Oberoi, HDIL and Unitech were down by 10% to 20%
Updated on Nov 09, 2016 01:59 PM IST
ByVandana Ramnani and Nachiket Kelkar
Long queues were seen outside jewellery stores on Tuesday night as consumers tried to convert their Rs 500, Rs 1,000 currency notes to gold. However, that trend is expected to die down from Wednesday, with jewellers reluctant to accept the notes now that they have been scrapped by the government.
The Tata Group surprised everyone when on October 24, the Tata Sons board,ousted Cyrus Mistry as chairman. But removing Mistry from independent companies of the Tata Group will not be easy; he is unlikely to go quietly. Last week, the independent directors of Indian Hotels publicly supported Mistry’s leadership ahead of the company’s board meeting. HT brings you the frequently asked questions as the Tata versus Cyrus Mistry drama unfolds.
Ousted Tata Sons chairman Cyrus Mistry told the directors of Tata Sons in his email that stringent risk-evaluation processes were not followed by Tata Motors Finance, which led to bad loans of more than ₹4,000 crore. Accounting practices, which offset expenses incurred on account of product development, led to the bad loans, Mistry had said.
Updated on Nov 01, 2016 11:05 AM IST
Hindustan Times | ByRamsurya Mamidenna and Nachiket Kelkar, Mumbai
India’s stock markets began Samvat 2073, the Hindu calendar year, on a tepid note, with both the benchmark BSE Sensex and NSE Nifty declining marginally on Sunday as near-term uncertainties like the outcome of the US Presidential elections and moves by the Federal Reserve weighed.
After a slow first half, which was hit by over a month-long strike, jewellers are a happy lot this Dhanteras.
The boardroom battle between ousted Tata Sons chairman Cyrus Mistry and interim chairman Ratan Tata could likely dent the Tata brand which has for long displayed attributes including trust and reliability that have seen it retaining the No 1 spot in various brand rankings over the years.
Updated on Oct 28, 2016 08:09 AM IST
Hindustan Times | ByRamsurya Mamidenna and Nachiket Kelkar, Mumbai
Mahindra & Mahindra will focus on its Mojo sportsbike, and while launch motorcycles under the BSA, Jawa and Peugeot brands in the coming months
Shares across Tata Group companies tumbled on Tuesday morning following the surprise decision of Tata Sons, the holding company of Tata Group, to remove chairman Cyrus Mistry and bring back Ratan Tata as the interim chairman.
The Jaguar F-Pace is an important vehicle in two ways. First, it is Jaguar’s first-ever SUV and its launch in India marks a shift in the company’s plans for the country.
India’s gems and jewellery industry wants the Goods and Services Tax (GST) on finished jewellery to be capped at 1.25%. It also demanded there be no GST on raw, cut and polished diamonds and coloured gem stones since most of these are exported.