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Reliance draws up plan to add more pep into textile business
Reliance Industries, the petrochemicals and textile major, has chalked out a strategy to aggressively expand its major presence in the textile sector. The fast changing lifestyle and mobility factor have been attributed as the reasons for the new strategy. The steps include the setting up of 42 flagship (Vimal) showrooms in "mini metros" and an additional 18 showrooms for Harmony fabrics, mostly in state capitals.
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Nicholas Piramal kicks off distribution of 3 Boots' OTC products
Nicholas Piramal, the pharmaceutical entity of the Ajay Piramal group of companies, is understood to have begun distributing three over-the-counter (OTC) products of Boots Plc, UK in India. The products being marketed are : Strepsils, its brand extension Strepsils Icy and Sweetex. The distribution arrangement for the three Boots brands would mean access to Nicholas Piramal's 1,200-strong sales force.
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BMW bid for Rolls-Royce in troubled waters
German automobile giant, BMW's pound 350 million proposed takeover of the coveted Rolls-Royce Motors has run into contention with it's home rival, Volkswagen announcing its intention to bypass the Vickers Plc board and present its renewed bid directly to shareholders.
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Sha Dwarakadas partner makes open offer for Lanyard Foods
Sudha Haresh Gandhi, partner of general merchants and commission agents Sha Dwarakadas Vallabhdas & Co, has made an open offer to acquire 30 per cent equity of Lanyard Foods Ltd at Rs 11.30 per fully paid-up share.
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Exchange schemes bring cheer to colour-television makers
The cut-throat competition coupled with steep price cuts and lucrative exchange offers seem to have given a fillip to the colour TV market during 1997-98, especially in the last few months. While almost all the major vendors agree that the market has grown sizably in the last few months, especially during March, when the price war reached its peak, they also admit that it has been at the cost of margins.
NAB expands US mortgage business
National Australia Bank (NAB) expanded its US mortgage unit HomeSide Lending, forging an alliance with Banc One Corp's mortgage division. HomeSide is a product specialist with a strong position in its market and is uniquely positioned to benefit from the consolidation of the US mortgage industry.
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