Here are the India Business News Headlines as on 10th July 2017:
- Amul now ranks sixth in the global butter market with a share of 2.1 per cent, trailing behind Irish dairy major Ornua Co-Op that enjoys a 2.2 per cent market share.
- Paytm Mall, is set to hire around 2,000 people across divisions, including back-end tech, business development and marketing.The company has recently inducted almost 800 personnel from its parent entity, One97.
- The proposed merger of Shriram group finance companies with IDFC has raised several questions inside the group. Shriram group insiders are questioning whether the merger is required at all considering cultural difference would be a major issue. They are also questioning why the Shriram group needs IDFC when it can become a bank on its own. They have attributed lack of proper succession planning as one of the key reasons behind the management wanting the merger.
- TPG Growth, the growth-capital fund of US private equity firm TPG, is set to sell a 20% stake in Bengaluru-based surgical equipment maker Sutures India Pvt. Ltd in a deal worth $100 million (about Rs650 crore).
- Due to competition from regional brands, Coca Cola is set to launch a new category of beverage called Kinley Flavors, which will be priced 35-40% lower than its flagship offerings.
- Design Cafe, an online interior design company, has raised multi-million dollar round of funding led by Fireside Ventures. The company offers online customized design and decor solution to consumers.
*News as published in Business Standard, Live Mint and Economic Times.