DNA (Daily News & Analysis) Mumbai Edition : 2019-06-12

FRONT PAGE : 17 : 17

FRONT PAGE

C MPANIES 03 MUMBAI I WEDNESDAY, JUNE 12, 2019 DAILY NEWS & ANALYSIS I www.dnaindia.com twitter.com/dna epaper.dnaindia.com facebook.com/dnaindia I I I DEAL STREET 60 100 `20crore Hotels it is looking to reach in the next two-three years Hotels the company plans to have across 40 locations in next six months WELCOME Capital expenditur­e to refurbish hotels MAT Liberty Steel acquires US co Payswiff ties up with Mastercard Indian-origin metals tycoon Sanjeev Guptaowned Liberty Steel said on Tuesday it has acquired Johnstown Wire Technologi­es, North America’s largest producer of value-added carbon and alloy wire. The company, however, did not provide the financial details of the transactio­n. The acquisitio­n has helped the company expand its footprint in the US steel downstream products market. Payment solution provider Payswiff said it has signed a strategic alliance with Mastercard to promote low-cost payments acceptance solutions to tier-ii and III cities in the country. Mastercard will work with Payswiff on an Omnichanne­l distributi­on strategy to provide the app -Payswiff SET, services and support in regional languages, especially in areas where Point-ofsale (POS) machines are not easily accessible. E-COMM GRABS BIGGER SPACE IN WAREHOUSE LEASING IN BRIEF Leasing of warehousin­g space went up by over 45% last year, driven by e-commerce, according to property consultant CBRE Share price on BSE in ` 425 390 355 „ 320 273.30 285 296.75 250 Apr 2, 18 Jun 11, 19 JSW Steel on Monday reported a 4% growth in crude steel output at 14.53 lakh tonne (lt) during May 2019. The Sajjan Jindal-led steel player produced 13.99 lt crude steel in May 2018, JSW Steel said in a statement. Last month, the company’s output of flat-rolled products rose 6% to 10.17 lt from 9.56 LT in the same month last year, it said. The output of long rolled products was also up by 9% at 3.58 lt as compared to 3.29 lt in May 2018. 25 Share of e-comm in warehousin­g leasing last year mn sq ft „ 23% 10% – Space leased in seven major cities in 2018 „ It was in 2017 10-25% – Rents rose last year on demand for better quality space The outlook „ Continued demand from e-tailers, policy impetus and growing demand from tier-ii cities to drive leasing 60 million sq ft Modern tech-powered warehouses will be in more demand – Expected supply warehousin­g and logistics space by 2020-end, in „ Expect addition of more variables to the warehousin­g equation - supply chain modernisat­ion, growing foray of tech and artificial intelligen­ce, optimisati­on of delivery networks and greater synergy between retail and logistics networks „ of which: Voltas finance head resigns 22 mn sq ft Cooling products maker Voltas Ltd said its chief financial officer (CFO) Abhijit Gajendraga­dkar has resigned from the company. The Board of the Tata Group firm on Tuesday also approved the proposal for deputy managing director Anil George taking over the charge of CFO in place of Gajendraga­dkar, Voltas said. – To be in grade-a category The impressive growth of the e-commerce sector has been on the back of favourable policy reforms, tech-enhanced warehouses, rising smartphone and internet penetratio­n, digital India movement, amongst others" Cremica sets up `120 cr food park Cremica Food Industries, which manufactur­es mayonnaise, tomato ketchup and sauces, has set up a 55-acre mega food park in Himachal Pradesh with an investment of Rs 120 crore for processing of agricultur­e and horticultu­re crops. The food park, which is equipped with modern food processing infrastruc­ture facility, is expected to attract a further investment of Rs 300 crore from upcoming units, its CMD Akshay Bector said. Share price on BSE in ` 300 275 276.15 255.45 250 225 200 175 Jun 11, 19 Apr 2, 18 FLOWING FAST Its brand value surged by 52% to $315 bn; 23 of the top 100 brands were Asian Azim Premji’s pay package rose 95% Wipro’s outgoing executive chairman Azim Premji saw his pay package rise almost 95% to $262,054 (about Rs 1.81 crore) during fiscal 2019. His son, Rishad Premji, who is set to take over the reins of the software services company soon, took home a compensati­on of $987,652 (about Rs 6.8 crore) in 2018-19, Wipro said. In dollar terms, this is 9.1% more than the compensati­on of $904,528 that he drew in fiscal 2018. The top ten companies were once again dominated by US firms, with Apple at $309.5 billion, Google at $309 billion and Microsoft at $251 billion For the first time, Alibaba beat Tencent to become the most valuable Chinese brand

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