News

Pure Gold Jewellers to set up 200 stores pan-India in five yrs Dubai-based Pure Gold Jewellers plans to invest nearly Rs

1,000 crore for setting up 200 stores in India in the next five years.

Currently, the company has eight stores in Mumbai and Pune and nearly 75 outlets in the Middle-East.

Their initial strategy will be to concentrate on strengthening base in Maharashtra.

Thereafter their target will be the north and south and eventually all over India by 2011.

Godrej Consumer merges Godrej Household Products with itself Personal care products maker Godrej Consumer Products Ltd

is merging its unit Godrej Household Products Ltd with itself.

The merger has been effective since April 1, 2010, post the acquisition of the the remaining 51 percent stake in Godrej Sara Lee, owned by its joint venture partner Sara Lee Corp .

Following the acquisition, Godrej Consumer has become the largest homegrown household and personal care company in India and second largest household insecticides company in India.

Toyota ropes in Rahman to endorse Etios in India World's largest carmaker Toyota has appointed music

maestro AR Rahman as its brand ambassador for its India specific car Etios.

Etios, that would come in both hatchback and the bigger sedan version, has been specifically developed for the Indian market.

Toyota’s Bangalore-based subsidiary Toyota Kirloskar Motors is aiming to sell 70,000 units of Etios in the first year.

It is eyeing about 10% market share of the Indian car segment by 2015.

E-land close to buying Mudra Lifestyle• South Korea-based $7-billion textile chain E-land is acquiring

Mumbai-based Mudra Lifestyle. • The South Korean major has agreed to buy a minimum 51%

stake in the company, which can go up to 67% after the open offer.

• The promoters of the company—the Aggarwal family—currently hold a 54.5% stake.

• E-Land group is a Seoul-based fashion and garment conglomerate with substantial presence in the fast growing Asian markets.

RBI sells almost all its stake in Nabard to Govt• The Reserve Bank of India divested its stake amounting to Rs 1,430

crore in National Bank for Agriculture and Rural Development (Nabard).

• The Government of India now holds 99 per cent of the stake.

• Earlier Reserve Bank held 72.5 per cent of equity in Nabard.

• Now, the only major institution where RBI holds a stake is National Housing Bank (NHB). The central bank hold 100 per cent stake in the housing finance regulator.