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All News Page

  • 86
    Pidilite unearths internal fraud
    JULY-2012 – Pidilite Industries informed the stock exchanges that it has unearthed a fraud committed by its employee. Makers of the Fevicol brand of glue, however, did not disclose the magnitude of the scam. According to a statement to the exchanges, “the internal audit process of Pidilite Industries has unearthed a misappropriation by which commercial quantities of goods from a particular warehouse were described as free samples and removed by one (or possibly more) employee. These goods were then intercepted and stolen before reaching the destination.’’ A full investigation and action has been initiated under applicable provisions of law against the employee, it said. The company, however, said that it will not have any financial implications. “The nature of the misappropriation was such that its impact has already been reflected in the company’s financial results and consequently no item of loss is expected to be charged in the company’s financials at all. Neither is the quantum detected significant enough to have a material impact upon future operations and profitability of the company.’’ The stock was trading flat at Rs. 161 at 11.45 a.m.
  • 85
    Leapbridge International Pre-School hosts its first seminar for parents in Mumbai
    JULY-2012 – The school successfully completed its first open interaction with parents, explaining them about school policies, importance of early years and developmental outcome of kids at Leapbridge. Award winning preschool from Navneet Publications – Leapbridge International Pre-School, conducted its first parent orientation program at its Sion center on Friday (8th June) that was aimed for parents and school to work together towards development of a child. Present at this program were Mr. Ketan Gala, (Founder Director – Leapbridge Education and Vice President of Navneet Publications India Limited) who commented on the business expansion that they would be adding couple of preschools in Mumbai by end of this year; and Ms. Prriety Gosalia, (Chief Academics and Operations – Leapbridge Education) who spoke about school vision, philosophies, policies and curriculum. “It is very important that parents trust the school so that we can work in conjunction with parents towards holistic development of a child.” The orientation has helped many parents to understand the developmental milestone of a child during early years and what would be the learning outcome at the end of an year. About Leapbridge International Pre-School: Leapbridge International Pre-School is an initiative of Navneet Publications India Limited. Leapbridge presents the bridge between various leaps a child takes in his education life from informal education in primitive years to a formal education in later years. Leapbridge stands for the best practices adopted with extensive research on leading international & national brands in the education space. Leapbridge combines excellent curriculum with most effective teaching methods. “India’s Most Preferred Pre-schools” – Education World C Fore, special merit award – 2010 Feature story on Europe’s leading news channel – Euronews (Learning World) “Private Enterprises Saving Indian Education” – Education World, cover story (November 2011) “India’s Most Admired Pre-Schools” – Education World C Fore, special merit award – 2011
  • 84
    Fevikwik goes all out with on ground activation
    AUGUST-2012 – Targets 78 towns across 6 states; the on-ground activities are being supported by a TVC Pidilite Industries Ltd. has implemented an aggressive on-ground activation programme for Fevikwik, one of the leading adhesive brands in India, across six key states in line with its aim to promote the brand as a multi-usage product. Based on the successful implementation of its pilot saturation plan in Vellore and Durgapur, Fevikwik has enhanced its activity in 78 towns across Maharashtra, Gujarat, West Bengal, Andhra Pradesh, Karnataka and Tamil Nadu. The on-ground activities are being supported by a TV campaign (TVC). Pidilite Industries has built on the position of Fevikwik being an instant adhesive which is a multi-utility, cost effective product. It has therefore adopted the on-ground route to reach out to its consumers and establish it as a solution to common repair problems which is both affordable and multi-purpose. Nilesh Mazumdar, President, Sales and Marketing, CP- Maintenance Division, Pidilite Industries Ltd, said, “We consider these markets as key to reaching out to our target consumers. We are confident that these activities will help us in meeting our objective of establishing Fevikwik as an easy solution to common household problems. We aim to drive home the message that its multi-purpose property is of immense use for various household repair applications.” The on-ground activities include In-shop Visibility, Outdoor Visibility, Distribution Expansion and Van Activation. The objective through its distribution activities is to establish Fevikwik’s presence in every FMCG outlet. Through its Van Activation, Fevikwik is looking to create intrigue about the product among non-users while enhancing the usage among existing users. Some of the key towns include Mysore, Mangalore, Belgaum, Kharagpur, Asansol, Visakhapatnam, Hyderabad, Aurangabad, Satara, Kolhapur, Solapur and Pondicherry.
  • 83
    HP India launches five printing solutions for SMB and mid-market segment
    AUGUST-2012 – Concentrating on the fast growing SMB and mid-market segments in the country, Hewlett-Packard India has launched five ‘Imaging and Printing solutions’, off the shelf ‘ePrint Enterprise’ products that have been scaled down to meet smaller sizes and lower cost requirements. According to HP India, many SMB and mid-market business owners have approached them, and their partners, looking for imaging and printing solutions similar to what HP offers its enterprise level customers – wanting to move from “printers to solutions”. Some of the most important concerns these companies expressed were cost accounting, tracking and the protection of their investments. To address these demands, HP brought five of its ePrint Enterprise services in a ‘solution-in-box’ model, to help SMBs and mid-market customers buy them, off the shelf, like any other product. For now, customizability of the solutions is minimal, but working with its channel partners, and following a more extensive training of the HP Document Solution Specialist Program, HP India hopes to provide user-configurable solutions in the near future. HP will be offering licences as small as 50 users initially, and aims to do so at a cost that would justify the expense for even smaller companies (which are of course, expected to grow in time). The solutions launched include: HP ePrint Enterprise mobile printing, HP EcoSMART Fleet, HP Imaging and Printing Security Center, HP Access Control Professional and HP Access Control Express. Speaking on the occasion, Nitin Hiranandani, Director, Printing Systems, PPS, India, “Mid-sized businesses in India are today demanding the same sophisticated solutions-enabled printing devices that have helped larger enterprises to optimize their imaging and printing infrastructure. With today’s launch, we are addressing the evolving business needs of our customers by offering them five new solutions which will improve their work-flow efficiency, enhance security and increase operational efficiencies, and lower the environmental impact.” Gurpreet Kanwal, Country Business Manager, PMPS and Solutions, PPS, HP India said, “HP’s imaging and printing solutions are designed to offer small and medium businesses the advantages of a secure and managed print environment, reduced costs, and the ability to control their printing fleet in an optimized manner. These solutions will help businesses create intelligent and smart printing infrastructure, which in turn will help them reduce cost and increase productivity, while lowering the environmental impact at the same time.” Print on-the-go with mobile printing solution HP ePrint Enterprise mobile printing solution unleashes the full potential of mobile devices. It allows you to print documents efficiently with enterprise-level security, sending print jobs from remote locations for printing on arrival. It is a cloud-enabled web service that allows mobile users to easily print documents, presentations, reports and photos from an e-mail application to any registered network printer across the enterprise. It is a driverless printing application that can integrate with your existing IT environment. The simple email-to-print capability allows you to send a print job from a business email address to the company’s networked printers that have been assigned an email address. Manage green quotient along with business operations HP EcoSMART Fleet allows you to see your energy and resource use from one intuitive and easy to use interface. Gives you the information required to effectively monitor, manage, and control the environmental impact of your fleet. Businesses can reduce costs up to 30% and save up to 80% on energy usage in managed print operations through focused management of their printing and imaging environment. It works by collecting data from HP Web Jetadmin software and the HP Carbon Footprint Calculator, real-time status overviews are displayed. One can run scenarios to understand how limiting energy and carbon usage, as well as spending, might impact productivity. Easily maps consumption overtime, user defined, identifies high-consuming devices, and pinpoint opportunities for savings. Secure your print environment HP Imaging and Printing Security Center is industry’s first fleet-level policy-based security solution that helps increase security, strengthen compliance, and reduce risk across your fleet of Imaging and printing devices. Allows securely deploying and monitoring devices as soon as they are added to the network by using HP Instant-on Security. Unique to HP IPSC, HP Instant-on Security automatically connects HP devices to the solution and immediately configures them to be compliant with the specific corporate security policy—saving time. It’s simple to enhance the policy for increased security beyond the baseline for specific departments or groups, such as your legal team. Control and Manage your Print Environment HP Access Control Express combines cost-control and security features. Offers users to print once to the server and “pull” jobs to any pull print-enabled HP LaserJet device. Pull printing virtually eliminates unclaimed documents hence wastage, enhances security by requiring authentication before releasing. Track detailed usage information for printers and MFPs. Create and customize built-in reports to address specific questions and concerns about printer usage by user, per device and department. HP AC Mobile Release increases convenience by allowing users to easily authenticate and release print jobs using their mobile device. HP Access Control Professional adding to thecost-control and security features of HPAC Express supports authentication through employee card access, allows managers to set and manage print policies. The new features include server-less pull printing, which lower costs, dual-factor authentication (pull and card) which adds an additional level to safeguard; and the ability to send jobs via email, which increases productivity. The Intelligent Print Management Module helps create custom printing rules for a smarter printing environment and help conserve energy and supplies by allocating costs by department. Hundreds of built-in, customizable reports can communicate the value and impact of printing, while the quota feature helps contain costs by allowing administrators to set print page volume limits for user groups. HP solutions and services pricing and availability varies by number of licenses, devices, no of employees and region. Built on HP’s Open Extensibility Platform The solutions launched today are built on Open Extensibility Platform, HP’s device-independent technology1 that allows them to work across a fleet of both old and new devices. Businesses do not need to buy new devices in order to support the latest solutions; because all devices support one version of a solution and one solution supports multiple devices. These solutions can also reside on a FutureSmart server, which helps businesses future proof the imaging and printing fleet. It also allows one to manage solutions in the same way one monitors and controls the devices—using HP Web Jetadmin. With HP FutureSmart firmware, the entire fleet of HP FutureSmart devices can be updated with new features and capabilities as they emerge. Enterprise users can now enjoy a consistent, up-to-date experience, no matter which device they use. From a single console, the IT staff can remotely deploy HP FutureSmart updates across the entire fleet, ensuring keeping pace with technology is quick and easy. About HP HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world’s largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure to solve customer problems. More information about HP (NYSE: HPQ) is available at
  • 82
    Xerox expects to double business in next 2 years
    SEP-2012 – Focuses on providing printing solutions for small & medium businesses A company known for its photocopiers, Xerox India, which has transformed into a document management solutions provider, is expected to double its business over the next two years. The company is also venturing into global IT outsourcing with its acquisition of US-based ACS, an IT outsourcing company. “We are focused on providing printing and document management solutions for enterprises – small and medium businesses (SMBs), government,” said Rajat Jain, managing director of Xerox India. While Xerox India’s market share in A3 copier and multi-function printers is 11 per cent (as of December 2011), competitors like HP, Canon, Epson and Samsung dominate the A4 multi-function printers. Jain said that the business for personal printers required costs to be low and new supply chains to be setup. “Focusing on products and solutions for enterprises helps maintain high quality and a persistent brand image,” he added. As part of the document management system, the company offers complete solutions for managing an enterprise’s printing needs. “It reduces capital expenditure (CAPEX) and enables a company to focus on its core business. Banking and financial services industry (BFSI) and telecom are growth segments for us because they have significant needs,” said Jain. Xerox entered India in 1983 as part of a joint venture with the ModiCorp called Modi Xerox. The company allegedly bribed government officials for contracts and found itself engulfed in other corporate governance issues in 2002. Jain claimed that Xerox India, which had since exited Modi Xerox, now spent a lot of time training its employees and sales partners on corporate ethics and governance issues. “Very few people who were with Modi Xerox then, are with the company now,” Jain said. Xerox, which acquired outsourcing firm ACS in 2010, brings experience in IT, HR outsourcing, legal process outsourcing, transportation, healthcare among others. Jain said that the 10,000 employee strong company was focused on servicing international clients.
  • 81
    3M Scraps Avery Unit Deal as Antitrust Regulators Balk
    OCT-2012 – 3M Co. (MMM) scrapped an agreement to buy Avery Dennison (AVY) Corp.’s office products business, a $550 million deal the U.S. Justice Department opposed because of antitrust concerns. The takeover would have given St. Paul, Minnesota-based 3M more than 80 percent of the U.S. market for labels and sticky notes, the Justice Department said in September. Announcement follows a plan by 3M and Avery Dennison last month to “explore options” to respond to the department’s concerns and win regulatory approvals. “While we are disappointed with this turn of events, we remain focused, as always, on investing in product innovation,” Jesse Singh, vice president and general manager of 3M’s Stationery and Office Supplies Division, said in a statement. 3M had planned to complete the purchase, announced Jan. 3, in the second half of this year. Pasadena, California-based Avery said it will continue to search for a buyer for the unit, which sells labels, binders, filing products and writing instruments with brands such as Hi-Liters and Marks-A-Lot. The Justice Department’s examination of the deal found that 3M and Avery have dominated adjacent parts of the office products business for many years, with Avery making labels and 3M selling sticky notes under its Post-it brand. The two companies are the largest label makers in the world, according to Deane Dray, an analyst at Citigroup Inc. in New York. Dray last month said the acquisition was small for 3M, adding only 3 cents to his earnings-per-share forecast of $6.75 for next year. Product Innovation Avery Dennison Chief Executive Officer Dean Scarborough told analysts on Sept. 5 he disagreed with the Justice Department’s findings that the purchase would hurt consumers, saying the combination would allow for more spending on research to make the products more innovative and competitive. Avery Dennison fell 7.8 percent to $29 at 5:29 p.m. in New York in late trading after the announcement. Through the close of regular trading, Avery had gained 10 percent since the day before the agreement was announced, while 3M had climbed 15 percent to $93.78. The office-products deal’s collapse is the third major development at 3M. On Oct. 1, the manufacturer agreed to pay $860 million to buy Ceradyne, a Costa Mesa, California-based maker of ceramics for the energy, aerospace and defense industries as CEO Inge Thulin tries to augment growth that has been hampered by European weakness and a China slowdown. Thulin announced a reorganization of 3M, reducing the number of units to five from six. He also shuffled some businesses and executives among the units “to increase relevance to our customers,” according to a statement.
  • 80
    Pantum eyes 5% share in India’s laser printer market
    OCT-2012 – Chinese printer manufacturer Pantum is eyeing a five percent share of the laser printer market in India by December 2015 with its focus on the small and medium businesses (SMB) and Small Office Home Office (SOHO) segment in the country. “As per IDC, the Indian laser printer market is estimated to be about 1.7 million units currently and is pegged to grow to 2 million units by 2015…About 45-50 percent of this is the SMB and SOHO segment,” Pantum International President Jackson Wang told. The target is to capture five percent (of the 2 million units) by December 2015, he added. Part of Chinese group Seine Technology, Pantum announced its foray to the Indian market and will focus on northern and eastern India in the initial phase of its entry, including Lucknow, Patna, Ranchi and Punjab. Lenovo sister company Legend Capital also has a stake in Seine. “Pantum has aggressive growth plans for India and aims to be among the top five printer brands in the country by 2015. We will cover 64 top cities in India by the end of this year and cover over 100 cities by the end of 2013,” he said. The company has roped in Rashi Peripherals as its national distributor and after sales partner. “Russia, China and Europe are major contributors to our revenues. In the next few years, we are looking at expanding the contribution from emerging economies and India will play a crucial role in this. We expect India to contribute 10 percent of our revenues by 2015,” Wang said. Though Wang declined to comment on revenue details, he said this year the company is looking at shipping 300,000 units globally and grow it to one million units by 2015. Other brands in India in this segment include HP, Canon and Ricoh.
  • 79
    Future Group acquires Big Apple for Rs. 61.35 crore
    OCT-2012 – Retail major, Future Group, said that it would acquire Express Retail Services Pvt. Ltd., which runs Big Apple stores, for Rs. 61.35 crore. “Future Ventures India Ltd. (FVIL) has agreed to acquire 100 per cent equity share capital of Express Retail Services Pvt. Ltd. (ERSPL) for an aggregate sum of Rs. 61.35 crore,” FVIL said in a filing to the BSE. ERSPL, which is a debt-free company, is expecting net sales of Rs. 120 crore during 2012-13, it added. “On completion of the acquisition of ERSPL, it will be a wholly owned subsidiary of FVIL and the operational performance of the business will form part of the consolidated financials of FVIL,” the statement said. ERSPL is engaged in retailing of groceries and food products through general convenience store under the brand ’Big Apple’ in the National Capital Region for the last six years. “FVIL through its subsidiary Future Consumer Enterprises Ltd. has significant presence in Delhi and NCR region. This acquisition will help consolidate its position in the region, besides leveraging on its operational and administrative infrastructure,” the Future Group firm said. Future Group runs 100 stores of its retail brand KB’s Fairprice in NCR, while Big Apple has 65 outlets. Shares of FVIL were trading 2.52 per cent down at Rs. 8.90 apiece during late afternoon on BSE. Earlier this September, Future Group firm Pantaloon Retail (India) had said it would merge its wholly-owned subsidiary Future Value Retail, which runs Big Bazaar and Food Bazaar stores, with itself. In April, Future Group gave away majority control of Pantaloon to Aditya Birla Nuvo Ltd. for a total consideration of Rs. 1,600 crore. The group, laden with an estimated consolidated debt of Rs. 6,000 crore, was understood to have finalised plans to exit from stationery joint venture with US-based Staples by selling its entire stake to the partner for up to Rs. 170 crore. It is also mulling stake sale in Future Generali Insurance, a JV with Italian insurer Generali Group. The group may hive off part of its 70 per cent stake in Future Supply Chain (FSC), a supply management firm. The remaining 30 per cent is held by Hong Kong-based Li & Fung, which is also interested in hiking its stake in the company. In June, the group had sold majority stake in Future Capital Holdings to private equity firm Warburg Pincus for Rs. 560 crore.
  • 78
    HP’s Spectre x360 MacBook Air competitor launched in India for Rs. 129990
    MAY-2015 – HP’s Spectre x360 convertible laptop is one of the most impressive reveals we’ve seen this year and it’s designed to give the MacBook Air a run for its money. Well, the company is now bringing the competition for the latter to India as well, by launching the notebook in question with a whopping Rs. 129990 price tag. That amount is certainly a lot, but you do get top of the line laptop features with the HP Spectre x360. Sadly, it doesn’t look like you’ll be able to customize the notebook or even go for the base model which is tagged at $899.99 (around Rs 57000). The hybrid laptop made its debut just last month and is based on the new 5th generation Intel Broadwell processors. This HP’s Spectre x360 version carries a Core i7 5500U chip with HD Graphics 5500. Windows 8.1 Pro runs the show and is displayed through a 13.3-inch 2560 x 1440 QHD resolution. HP has also thrown in a full-size backlit keyboard and a multi-touch trackpad.
  • 65
    We want more free trade, elimination of policy bottlenecks: Seiko Epson Chief
    Minoru Usui, the Global President of Japanese Company Seiko Epson Corporation JULY-2014 – Minoru Usui, the Global President of Japanese Company Seiko Epson Corporation, has a passion for technology and innovation. This is obvious in the vast canvas of high precision products manufactured by the company, including inkjet printers, printing systems, 3LCD projectors, industrial robots and micro devices. The company has manufacturing and development facilities in 27 locations around the world. Usui took over the company’s reins in 2008 in the midst of the turmoil caused by the global financial crisis. By 2014, he has been able to turn the fortunes of the company and embody in its products the company’s tagline — “Exceed Your Vision.” Usui spoke to Business Line during a recent trip to its core device production facilities in Nagano, Japan. Excerpts from the interview: Q. : Several Japanese companies have manufacturing bases in India. With the Narendra Modi government bullish on attracting investments into the country, is Seiko Epson planning anything big for India? Minoru Usui : India is an attractive market to cater to. We can consider it. But we find there are several issues in India. Each State has different rules and regulations and when it comes to taxation and other policy matters, India is not so great for investment at the moment. Q. : What would you like from the India-Japan tax treaty, if it had to be renegotiated? M.U. : We would obviously want more free trade, elimination of existing bottlenecks and much more freedom in policy. Q. : How do you view the emerging markets and are there any different or unique marketing strategies that you use to sell your products in India? M.U. : Our strategy is to study the emerging economies and find out what precisely customers in these countries want. Then, we work on our research and development to be able to provide them the appropriate product. In India, we found that in the printers category, consumers are looking for high quality products at low running costs. That’s what we have provided them through our L-series printers. We find that Indians are very keen on entertainment and love watching movies, so we have produced home theatre projectors that are of high digital quality and suit the pocket. Our interactive white boards using high precision technology are ideally suited for the emerging educational segment. Q. : Do you feel you are going to increase market share in printers, projectors and white boards in India in the future? What kind of potential do you see? M.U. : In the Indian market and other markets as well, the key point is not just to create market share. It’s to create fantastic products that exceed the vision of the buyer. The result of that will be market share. So, market share is more of an effect than an aim for Epson. Every company wants to be No. 1 and I am no exception to that. However, for me, it’s not simply good enough to defeat the opposition. What we have to do is to go to markets like India and really understand what Indian people want from the products we have and create products to answer those needs. If that means doing something very different from the others, that’s what we will do. Q. : There is also a luxury market in India that’s quite large and we are seeing that your sensing health products and smart glasses could address this market perfectly. In the near future, will you test-market any of these products in India? M.U. : I’m thinking very carefully about the Indian market now. Perhaps, we have to change the way we do business in India. As you said, there are very large income disparities in India and the rich are much richer than the rich in Japan, but the majority of the people have a much more basic lifestyle, so in the future, we would have to put in place a strategy where we could address each part of society with our products. Q. : Epson is an India shy company. Many MNCs have invested here, but you have not. Ours is a country of over a billion people, what’s your India vision? M.U. : Until a few years ago, the Indian Epson operations actually reported to Singapore. However, two years ago, we realised that this was not the ideal situation, so I made the Indian operations separate from Singapore and now, it reports directly to Japan. So, we have invested a lot in building the operations in India and put a lot of efforts into recruiting good people and developing the staff. We hope to do a lot more in India in the future. Q. : During the global economic crisis, your company went through a tough time. It’s in the last few years that you have managed to go forward. What did you learn from those troubled times? M.U. : While we went through a tough time, we realised that we had to review our situation carefully and recognise what our strengths were. When the times are tough, you have to be selective in what you do… that’s what we did to go forward.