Persistent Systems, IBM tie-up to contribute 15-20% to revenue
in FY17
Persistent
Systems has tied-up with IBM to jointly work on the latter’s Internet of Things
(IoT) platform.
The
Company’s management stated that the partnership will be revenue accretive and
will add about 15-20% to the company’s revenue in FY2017.
The
deal will also add close to 500 employees which includes experts from IBM. The
Company has also set up subsidiaries in Mexico and Israel in collaboration with
IBM.
ITC market share in instant noodles segment rises to 30-40%
ITC
market share in instant noodles segment rises to 30-40% (from 20% earlier) -
positive for ITC’s non-cigarette FMCG business
ITC
sales of its instant noodles brand Yippee are recovering and its market share
has risen in the range of 30 to 40% (from 20%). pre-Maggi controversy the
industry sales were Rs 250-300 crore per month.
The
industry sales tanked to 5-10 per cent after the controversy broke, but now it
is able to recover to nearly 50% of the original industry sales.
BHEL commissions another 270 MW coal-based unit in Punjab
State-run
Bharat Heavy Electricals Ltd (BHEL) on Monday said it has commissioned second
270 MW coal-based unit in Punjab.
The
unit has been commissioned at the 2x270 MW Goindwal Sahib coal-fired thermal
power project of GVK Power & Infra Ltd (GVKPIL), located in Goindwal Sahib
in Tarn Taran district, near Amritsar, Punjab.
Aurobindo receives USFDA approval for Naproxen Sodium Tablets
Aurobindo receives final approval from USFDA to manufacture and
market Naproxen Sodium Tablets (OTC). This product is expected to be launched
in Q1 FY16-17. Naproxen Sodium Tablets is used in the treatment and prevention
of osteoporosis in postmenopausal women.
Zee Entertainment in talks to acquire Reliance Broadcast
Zee
Entertainment in talks to acquire Reliance Broadcast Network (RBNL)
ZEEL
is in talks with Reliance Broadcast Network Ltd (RBNL) to acquire 49% stake in
the latter's BIG FM radio business as well as a 100% stake in its television
channels.
If
the deals happen it will be a long term positive for ZEEL, as it will
consolidate its positioning in broadcasting business and also foray into the Radio
segment will expand its value chain in the Media and Entertainment space,
though deal valuation will be crucial to gauge impact in near to medium term.
