STARBUCKS TO ADD AROUND 10 STORES IN THE NEXT 2 MONTHS
NEW DELHI : Tata Starbucks, a 50:50 joint venture (JV) between Tata Global Beverages (TGBL) and Starbucks Coffee of the US, is planning to add up to 10 new stores in the next two months, taking the total count to around 145 outlets, said a top company official. The premium coffee chain is increasing the number of roll outs as it is getting overall good consumer response, said TGBL. “We currently have around 136 stores and we would open another between 5 to 10 stores by the end of the year (fiscal). We have seen an increase in the store roll out. We look at activating more stores roll out in the next few years, what we have seen in the past,” TGBL Group chief financial officer L Krishnakumar told PTI.
Voda Idea plans ₹20,000 cr network investment
NEW DELHI: The country’s largest telecom firm Vodafone Idea is planning to invest around
₹20,000 crore in networks over the next 15 months, according to company officials. “We have given capex of ₹270 billion for financial year 2019 and financial year 2020, combined together. Out of that, roughly ₹70 billion has been spent in first nine months. In next 15 months we are looking at capex deployment of ₹200 billion,” Vodafone chief financial officer Akshaya Moondra told analysts in a teleconference. The company is also planning to raise ₹25,000 crore through rights issue, in which the promoter shareholders have reiterated to the board that they intend to contribute up to ₹11,000 crore and ₹7,250 crore, respectively as part of such rights issue.
Bajaj Electricals aims 48% jump in revenue this fiscal
NEW DELHI : Consumer durables maker Bajaj Electricals is eyeing around 48% growth in revenue to ₹7,000 crore this fiscal, mainly driven by robust performance of its engineering procurement and construction (EPC) segment, said a top company official. The company’s major growth is coming from its EPC segment, on the back of big orders of power distribution and transmission line projects in Uttar Pradesh. “We would end current fiscal with around ₹6,800 crore to ₹7,000 crore as per our estimates,” Bajaj Electricals chairman and managing director Shekhar Bajaj told PTI. Bajaj Electricals had posted a revenue of ₹4,716.39 crore last fiscal, in which EPC had contributed around ₹2,500 crore.
Voltas to invest ₹500 crore to set up plant in Tirupati
NEW DELHI: Tata Group firm Voltas on Sunday said it will invest over ₹500 crore to set up a manufacturing facility in Tirupati, Andhra Pradesh. “This facility will initially manufacture and assemble air conditioners and related cooling products with a total capacity of more than 1 million units to start with,” the company said in a BSE filing. Voltas said it aims to create technologically advanced products which are expected to start rolling out from the second half of 2020. The company plans to invest over ₹500 crore while putting together an original equipment manufacturer (OEM) base for home appliances, and simultaneously creating local employment opportunities in the region. The choice of Andhra Pradesh as the destination for the new manufacturing unit was due to the state’s ease of doing business and growing focus on ‘Make in India’.
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