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India's Tata mulls sale of Voltas home appliances business

Reuters · 1y ago

India's Tata mulls sale of Voltas home appliances business

India's Tata Group is reportedly considering selling the home appliances business of Voltas, in which it holds a nearly 30% stake. The conglomerate anticipates challenges in scaling up the business in a competitive market. It is still early in the considerations and Tata has not yet decided if the sale will include Voltas' consumer durables local joint venture, Voltbek Home Appliances. Financial details of the potential deal have not been disclosed. Voltas saw its shares drop almost 2% following the news.

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Tata Group Mulls Acquisition Of Disney’s Stake In Tata Play

Inc42 · 1y ago

Tata Group Mulls Acquisition Of Disney’s Stake In Tata Play

Tata Group is reportedly in discussions to acquire Walt Disney Co.'s stake in Tata Play, aiming for complete ownership of the direct-to-home (DTH) player. The potential deal could value Tata Play at $1 billion or higher. Tata Play, formerly known as Tata Sky, was launched in 2004 as a joint venture between Tata Sons and Network Digital Distribution Services. After Disney acquired 21st Century Fox, it became a stakeholder in Tata Play. This move follows Reliance Industries, Viacom 18, and Disney signing agreements to establish a joint venture in India's media and entertainment industry.

Amazon Prime Day Sale 2024 starts on July 20: All early deals live today

Livemint

Livemint · 1y ago

Amazon Prime Day Sale 2024 starts on July 20: All early deals live today

Amazon Prime Day 2024 is just around the corner, with early deals already available. The sale will offer significant discounts on a wide range of products, particularly in tech and home appliances. Shoppers can expect great deals on laptops, tablets, TVs, and home appliances from top brands. Early deals are too good to miss out on, so take advantage of the offers and start shopping now. Stay tuned for more updates on the best deals during Prime Day.

Tata mulls battery business spinoff; to expand EV, renewable energy segments

Livemint

Livemint · 1y ago

Tata mulls battery business spinoff; to expand EV, renewable energy segments

Tata Group is considering spinning off its battery business, Agratas Energy Storage Solutions, as an independent unit. This move aims to raise funds and potentially take the battery business public in Mumbai. Agratas designs and manufactures batteries for the automotive and energy sectors, with Tata Motors and Jaguar Land Rover as its anchor customers. Tata Motors is also exploring a spinoff for its electric vehicle (EV) business in the future. The valuation of Agratas could reach $5 to $10 billion depending on its growth and market sentiment.

Business in the Week Ahead: October 7-13

Money Control

Money Control · 10m ago

- Tata Consultancy Services (TCS) to release Q2 FY25 earnings on October 10. - Dabur reports business impact from heavy rains and floods in Q2 FY25. - Muted earnings expected in cement, exterior paints, beverages, and out of home consumption products sectors. - Reserve Bank of India's Monetary Policy Committee meeting to decide on the economy.

TN’s Electronic Manufacturing Push: Apple Supplier Jabil Mulls INR 2,000 Cr Plant In Trichy

Inc42 · 11m ago

TN’s Electronic Manufacturing Push: Apple Supplier Jabil Mulls INR 2,000 Cr Plant In Trichy

Jabil, a supplier to companies like Cisco and HP, is set to establish a new facility in Trichy, Tamil Nadu. This move is expected to create 5,000 jobs and boost electronics manufacturing in the region. With Jabil's entry, Tamil Nadu becomes home to several major Apple suppliers, including Foxconn, Pegatron, Tata Electronics, and Corning. This investment by Jabil is seen as one of the first significant investments in Trichy and will contribute to the growth of the local economy.

Bespoke AI-powered devices to comprise 70% of total sales by FY25: Samsung

Economic Times

Economic Times · 1y ago

Bespoke AI-powered devices to comprise 70% of total sales by FY25: Samsung

Samsung has launched a range of 'Bespoke AI' home appliances, including refrigerators, air conditioners, microwaves, and washing machines. These appliances are equipped with inbuilt Wi-Fi, internal cameras, and AI chips, and will operate on the Tizen operating system. The AI algorithm in these devices will monitor energy usage, optimize it based on individual usage patterns, and provide cost-saving tips. The appliances also offer voice assistance with Bixby and a Smart Forward feature for maintenance and notifications. Samsung aims for its Bespoke AI devices to comprise 70% of total home appliance sales by the end of fiscal year 2025.

Acer Plans To Manufacture & Export Home Appliances From India

Inc42 · 1y ago

Acer Plans To Manufacture & Export Home Appliances From India

Taiwanese tech giant Acer is set to enter the home electronics market in India by manufacturing and exporting appliances such as purifiers, refrigerators, and vacuum cleaners. The move comes as Acer aims to diversify its business in a market that experienced significant growth, with revenues rising 19-20% in 2023. The company plans to establish a new subsidiary, AcerPure, dedicated to selling consumer appliances. Acer intends to manufacture these products in India, taking advantage of the expanding electronics manufacturing ecosystem, and is also exploring export opportunities to neighboring countries.

Whirlpool shares gain after promoters sell off 24% equity

Money Control

Money Control · 1y ago

Whirlpool shares gain after promoters sell off 24% equity

Home appliances manufacturer Whirlpool witnessed a 1.15% increase in its stock price on February 21 after the promoter offloaded 24.7% equity in the company. The equity sale, amounting to ₹4,039 crores, had been planned to reduce the promoter group's debt. Whirlpool reported a Q3FY24 net profit of ₹28 crores, a year-on-year increase from ₹25 crores, with revenue growing 18% to ₹1,536 crores and EBITDA increasing 43% to ₹63 crores during the same period.

LIC decreases stake by 2 percent in air conditioners giant Voltas | Mint

Livemint

Livemint · 1y ago

LIC decreases stake by 2 percent in air conditioners giant Voltas | Mint

Life Insurance Corporation of India (LIC) has reduced its equity stake in Voltas, dropping from 6.856% to 4.754%. LIC purchased 15,731,283 shares of Voltas at an average cost of ₹1,502.931 per share. Voltas, an EPC contractor in the air conditioning and refrigeration sector, reported a two-fold increase in net profit for Q1 2024, reaching ₹335 crores. Additionally, the company achieved over one million units of AC sales during this period with total income surpassing the ₹5,000-crore mark. However, Voltas' share price dropped 10.45% on August 13.

Flipkart Big Billion Days sale draws 91 million customers during early access and day 1

Business Today

Business Today · 1y ago

Flipkart Big Billion Days sale draws 91 million customers during early access and day 1

Flipkart's flagship shopping event, 'The Big Billion Days', attracted 91 million customers during the early access and day 1. The e-commerce firm witnessed a significant increase in orders from its loyalty program members. Categories like mobiles, appliances, lifestyle, beauty, electronics, and home experienced high customer demand. Flipkart Pay Later and EMI-based purchases also saw a spike during the sale event. The top cities with the highest number of shoppers were Bengaluru, Delhi, and Hyderabad.

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