Just Herbs in expansion mode

Call it a reverse journey or something else! While many of its peers are moving from retail to e-tail, here is a bespoke ayurvedic beauty brand, which is moving the other way round. The fledgling homegrown brand-Just Herbs, which was floated as an e-store in late 2013, has now set out on its retail journey with its maiden company owned outlet in Chandigarh. Moves are already afoot to add at least 3-4 outlets annually over next couple of years and emerge as a pan India brand, top company officials said.

Michelin introduces SUV tyres

French tyre maker Michelin on Tuesday announced the sale of Michelin LTX Force range of tyres targeting fastest selling sport utility vehicles (SUVs) in the country, Asia’s third biggest car market.
With the introduction of the new range of tyres, imported from its factory in Brazil, Michelin is strengthening its product portfolio as well as its standing in the Indian market. These tyres carry a price band between Rs 9,000 and Rs 13,000.
“The SUV market is one of the fastest growing segments in India,” Mohan Kumar, commercial director at Michelin India, said.

Nikon India eyes slot in parent's top 5 global units

Nikon India is eyeing a place in Japanese parent Nikon's top five units globally this fiscal as it continues to strengthen its position in the country.
"We are looking at becoming top 5 markets globally this year and I have also set an ambitious target of being in top 3 markets in five years time ...", Nikon India Managing Director Kazuo Ninomiya told PTI.
"We expect to report Rs 1,200 crore sales turnover in the current fiscal year," Ninomiya said. The company had reported sales of Rs 1,150 crore in the previous fiscal year.

Jet Airways in talks to buy 50 single aisle aeroplanes

Jet Airways India, the country’s biggest full-service carrier, is in talks to buy 50 narrowbody jets worth at least $5.6 billion on top of a pending order for Boeing 737 Max aircraft, a person with direct knowledge of the plan said.

NDTV shares tank after CBI searches

Shares of NDTV tanked nearly 7 per cent on Monday in intra-day trade after the CBI carried out searches at the TV channel’s offices and the residences of its founder Prannoy Roy and his spouse Radhika Roy for allegedly concealing a share transaction from Sebi and causing loss to a private bank. NDTV denied the charges and termed it as a political attack, aimed at silencing the media.

Ayurvedic treatment for railway employees on cards

The railway ministry will be introducing ayurvedic treatment in 125 hospitals and 586 health units operated by it. The ministry has set up a committee to make recommendations for the same.
The committee will suggest a plan for introducing and promoting Ayush treatments in hospitals and suggest the procedure for induction of doctors as contract medical practitioners on deputation from ministry of Ayush or its affiliated hospitals.

Two-wheelers to grow at 8-10% this year: Icra

The two-wheeler industry, on a recovery path after five months of rough ride from demonetisation and the ban of BS-III models, is poised to grow by 8-10 per cent in the current financial year.
“As the demonetisation impact wanes off and the overall demand recovers, we expects domestic two wheeler volumes to grow by 8-10 per cent during FY18,” Subrata Ray, senior vice-president and group head-corporate sector ratings at Icra told Financial Chronicle.

Momentum to sell Air India gathers steam

The proposal to sell Air India seems to be moving at jet speed. The Union cabinet will soon take a call on privatisation of the carrier, which is debt-ridden and making losses for years.
The move comes after the government think-tank Niti Aayog recommended divesting up to 100 per cent in the
The Bloomberg news agency, quoting an unnamed source, said on Wednesday that prime minister Narendra Modi was actively considering privatisation of Air India and wants the buyer to absorb Rs 20,000-crore loan linked to aircraft purchases.

Raymond case: Patel seeks probe against firm’s directors, promoters

Firing off the third missive to Sebi chairman in the past three months, minority investor VA Patel’s latest complaint has sought investigation against Raymond’s directors, promoters and auditors, even as the AGM is scheduled for June 5.
Patel of JHP Securities wanted action by the market regulator as promoters of the company are trying to get an approval from the shareholders at the annual general meeting (AGM) to get the premium property JK House in Mumbai in their name by ‘buying’ at throwaway prices.

Phone war pain goes beyond RCom’s sibling spat

Reliance Communications’ balance sheet troubles, which have wiped off more than a third of its value this month, have thrown into sharp relief the squeeze afflicting India’s telecoms sector: fickle users, wafer-thin margins and crippling debt.
Reliance Communications, known as RCom, has seen its shares and bonds tumble since it reported weaker results over the weekend — along with a shrunken user base and higher debt. It said on Monday, it was in talks with banks to defer loan repayments due over the next four months.