April 16, 2014
Every day we compile the latest news on the Indian economy to keep you abreast and updated on the current state of commercial affairs. So that Indian economy news stays fresh and crisp as your daily newspaper, with inputs from the best resources. Our compilations bring business news reports that are relevant today and tomorrow, giving vital inputs on the various sectors of the Indian Industry and trade. The news gathered from across the financial and political hubs of India so that you know the shape of things to come in the Indian economy.
Kolkata: Ilex-London plans to invest around Rs 5 crore (US$ 830,394.56) over the next five years to open 10 exclusive stores in India. Stores will have an average size of 500-600 sq ft, with an investment of around Rs 50 lakh (US$ 83,033.76) per store, said Mr Sunil Bansal, Founder, Ilex.
Ahmedabad: Reliance Industries (RIL) has commissioned a polyester filament yarn (PFY) facility at Silvassa, Dadra and Nagar Haveli, giving boost to its position as the world’s largest producer of polyester fibre and yarn.
New Delhi: Dutch pension fund APG has increased its stake in mid-market hotel chain Lemon Tree by Rs 300 crore (US$ 49.82 million) from 5.66 per cent to 13 per cent. With the fresh injection of capital, LemonTree plans to have close to 8,000 owned and managed rooms by 2017.
Mumbai: Lodha Developers has acquired Clariant Chemicals’ 87-acre plot of land in Thane, Mumbai, for Rs 1,154 crore (US$ 191.53 million). “Thane is a rapidly developing part of the Mumbai Metropolitan Region and we see strong, sustained demand for quality homes in the region,” said Mr Abhinandan Lodha, Deputy Managing Director, Lodha Group.
Mumbai: Videocon Industries plans to acquire Dr Datsons Labs Ltd (DTL), a research-focused pharmaceuticals company, at an enterprise value of Rs 350 crore (US$ 58.08 million).