Cyient, GAIL India and ITC to see some action today

Cyient has signed a definitive agreement to acquire the 100% stake in Integrated Global Partners (IG), an Australia based technology consultancy company.  The rationale for acquisition are gaining access to decision makers with global mining majors, acceleration in Cyient’s mining strategy and positioning Cyient as a digital transformation leader in the market. The time required for completion may range upto 6 months depending on when the Foreign Investment Review Board (FIRB) approval is granted.

GAIL India is eyeing expansion in petrochemicals, specialty chemicals and renewables to supplement growth in its core business of natural gas marketing and transportation. The nation's largest gas marketer and shipper has adopted a revised strategic plan identifying priority business initiatives. This strategic plan will help company to address its challenges in changing industry scenarios and provide new areas for growth with geographic expansion.

ITC is considering merger of its three wholly-owned subsidiaries - Sunrise Foods, Hobbits International Foods and Sunrise Sheetgrah - with itself. A board meeting of the company has been convened for this on September 4, 2020. The acquisition of Sunrise Food, engaged primarily in the business of spices, will help it to augment its portfolio in the segment, where it has already presence with its brand Aashirvaad. Consequent to it, Sunrise and its two arms - Sunrise Sheetgrah and Hobbits International Foods - also became wholly-owned subsidiaries of ITC.

CHD Chemicals is expanding its business throughout the region of South East Aisa. For the same purpose company formed association with the leading group of the same region. To begin with company has bagged export order of Chemicals worth Rs 56 crore (approximately $7.5 Million). This order will help the company in establishing its foot base in Global Market and increase turnover as well as profitability.

Ugro Capital is considering raising of funds through various options of borrowings including by way of issue of debt securities on a private placement basis. Based on the market conditions, Investment and Borrowing Committee will consider and approve such issuances of debt securities during the month ending September 30, 2020 subject to such terms and conditions including the issue price of debt securities, as the Committee may deem fit.

Tata Consumer Products (TCPL) is now expanding the offline reach of its spices and pulses brand Sampann. The company is taking advantage of commodity spaces and driving conversion from unbranded to branded across beverages and foods. It is witnessing a change in consumption patterns, with an increased focus on safety and convenience along with a shift towards 'trusted' brands with a strong heritage. Traditional ingredients, which have been known to build health and immunity over the ages have been favoured.

Jubilant FoodWorks has piloted a smaller sized kiosk model for the coffee and baked goods chain in the country and is evaluating opportunities to scale up through the new format. Dunkin' Donuts India is using a calibrated pilot to test the new format of restaurants. The company is now evaluating opportunities of growth to build this model. There is continued focus on optimising cost and bringing efficiencies.