Feb 10, 2017 - Vishal Sikka gets the backing of OppenheimerFunds: report

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Sree Vijaykumar From the Editor's Desk Some common threads run through a number of Indian SME units. Most of them are in niche areas, are run by owners who are increasingly qualified and well-educated and they are mostly unlisted companies. These are the unsung heroes of India's growth over the last two decades, boosting it in good times and providing the anchor in bad times. They constitute India's Mittelstand, the micro, small and medium enterprises sector, which contributes nearly 8% of the country's GDP, 45% of its manufacturing and 40% of its exports. More pertinently they also provide the largest share of employment after agriculture. The numbers though, could be better, much better. In Germany, the Mittelstand, which make up over 90% of all German firms, account for nearly 52% of the country's GDP. That's possible in India too provided we get off our obsession with large-cap companies as well as the new-age start-ups looking to be the next unicorn. More here Advertisers of the day The Economist: Subscribe now and get a Hidesign passport wallet free Ingram Micro Cloud: Streamline your creative process and secure your digital assets with Dropbox Business   Our advertisers help fund the daily operations of TradeBriefs. We request you to accept our promotional emails (B2B Decision-Makers, B2C Decision-Makers, TradeBriefs Premium). Vishal Sikka gets the backing of OppenheimerFunds: report Infosys CEO Vishal Sikka gets the support of Oppenheimer Funds—the IT major’s third-largest institutional investor Brightest minds of India Inc. to convene at Retail Leadership Summit 2017 to deliberate on the future course for retail in India Come February 15, and Renaissance Hotel & Convention Centre, Mumbai will be abuzz with activity as the best and brightest minds of retail from across India will come together to chart the way forward for the industry at the Retail Leadership Summit (RLS). To be held on February 15 – 16, RLS is the biggest knowledge sharing platform for the industry organised by the industry, for the industry. Organised by Retailers Association of India (RAI), RLS 2017 will focus on the theme Collaborating to Win the Connected Consumer as Collaboration is the need of the hour, the way ahead for all. Speakers at the event include industry leaders such as BS Nagesh, Founder TRRAIN & Chairman RAI; Dr A Velumani, Creator & MD, Thyrocare; Govind Shrikhande, MD, Shoppers Stop, Hari Menon, Co-founder & CEO, Bigbasket.com; Vijay Shekhar Sharma, Founder & CEO, Paytm among others. To know more,click here   Advt: Work for the best employer - Yourself Advantages - Best B2B audience in India, no hard-selling or up-front costs involved, access to our content repository and air-tight agreements with instant gratification. Two fund houses announce cut in expense ratios, will others follow suit? Experts say that it is unlikely that other fund houses will start cutting expense ratios in their equity funds What Modi’s demonetisation push means for foreign investors After the demonetisation move, foreign investors were major sellers of equities because they feared an economic slump, resulting in the slump in the stock market Is Infosys fight approaching its endgame? Employees are asking if everything’s okay between CEO Vishal Sikka, the board and the founders, even as Murthy has clarified there’s no issue with Sikka India in need of a two-speed economy The boost in consumption will provide the fast-pace growth that will help make up for the slow speed of structural reforms like GST and demonetisation The NSE IPO is our immediate priority: CEO Vikram Limaye NSE CEO Vikram Limaye’s key priorities on taking over include sorting the algo trading issues at the bourse and smoothly listing the exchange Will U.K. Sinha exit Sebi with a bang? Outgoing Sebi chairman U.K. Sinha should address the NSE algo trading case and avoid creating a moral hazard India rejects push to set multilateral rules on e-commerce After a meeting with WTO chief Roberto Azevedo, Nirmala Sitharaman says discussions on e-commerce shouldn’t feature in 11th WTO ministerial’s agenda Peepul Capital buys out Lighthouse Funds stake in Unibic India Peepul Capital had in 2012 acquired a majority stake in Unibic India for close to Rs100 crore; Lighthouse Funds had a 25% stake in the biscuit firm Increase in taxpayer base will help bring down tax rate, says Arun Jaitley Arun Jaitley said an increase in taxpayer base with the advent of GST and in the aftermath of demonetisation will help in generating more revenues CPSE ETF may help govt raise funds, PSUs meet Sebi norms CPSE ETF will serve the dual purpose of raising money for the exchequer and helping listed state-run firms achieve 25% public holding before 21 August Acquisitions will be critical for building Lupin’s specialty drugs business: Nilesh Gupta Lupin MD Nilesh Gupta says the company company’s acquisitions could be a mix of late-stage development assets, finished products portfolio or companies Driving greater levels of consumption and demand key challenges for India's economy: Amitabh Kant Though the Economic Survey 2016-17 talks about bad bank approach to put the non-performing assets of banks into order, at this moment the key challenge for India is to drive greater levels of consumption and demand, NITI Aayog chief executive officer (CEO) Amitabh Kant said at an ASSOCHAM event in New Delhi. Bank of India posts Rs 102-crore profit on treasury income State-owned Bank of India on Thursday reported a net profit of R101.72 crore for the December quarter, as against a loss in the corresponding quarter last year, aided by a decline in provisions for non-performing loans. Oil cos' merger can be challenging yet beneficial: Fitch New Delhi, Feb 7 () The proposed merger of state-owned oil companies could reduce inefficiencies across the sector and create an entity better placed to compete globally for resources, Fitch Ratings said today. CCI rejects complaint against Indiabulls Housing Finance New Delhi, Feb 7 () Fair trade regulator CCI has rejected a complaint of unfair business practices made against Indiabulls Housing Finance with regard to allegedly abusive terms in a mortgage loan agreement. New era: Insolvency resolution begins for seven Indian companies ICICI Banks application for insolvency resolution against Innoventive was the first to be registered by the Board. Govt may allow EPFO to buy more stocks: Bandaru Dattatreya Govt is examining proposal to let the EPFO invest 15% of its corpus via exchange traded funds compared with 10% at present, says labour minister Bandaru Dattatreya Wooplr raises $8 million in series B funding Wooplr will use the funds for product development and technology Kotak Mahindra, Axis Bank deny merger rumours “The synergies are huge. Kotak Bank has a very strong corporate banking franchise, while Axis is strong on the retail front,” said a top fund manager. Malabar Group expects revenue growth to be hit by demonetisation, eyes IPO Malabar Group is planning an initial public offering ‘latest by 2018’, said company chairman M.P. Ahammed FSSAI considering adding calories on restaurant menus Explores ways to get restaurants to list nutritional information on menu cards Papa John's: foodtech startup by former papa john's ceo, freshmenu chef gets 500k The fund raise from UAE's Al Dhaheri family comes about six month after 48East raised $250,000 in a round of angel funding from Agra-based ACPL export.. FSSAI to bring new regulations for organic foods For capacity building, the FSSAI today tied up with the Hotel and Restaurant Association of Northern India (HRANI) to launch its programme for trainin.. Flipkart, Amazon, Snapdeal flag concerns over tax laws in GST Why 2017 will be a profitable year for grocery retail to bank on Modern grocery retailing has come a long way, registering a value growth of 17 per cent in 2016. This increment was stronger as compared to the 10 per cent growth for traditional grocery retailers. Th Luxury brand Faberg enters India Owned by the world’s top emeralds and rubies-miner Gemfields Plc., Faberge is the latest in a swelling list of global luxury brands such as Burberry.. Nissin Foods and Future Group join hands to serve up snacks at kirana stores The initiative will turn the Future Group into a direct rival of HUL, ITC, and Nestle, marquee consumer-goods companies whose products dominate the re.. 5 E-commerce Challenges Faced By Early Stage Startups In India There is enough room for the e-commerce businesses & shine with government supporting them. However, there are major challenges to be faced by them. Poster boy of Indian ecommerce, Flipkart's Sachin Bansal lists 3 major turning points for success In the past 10 years Flipkart India has seen it all—rapid investments by foreign investors, stability in funding and valuation markdowns. MobiKwik sees spike in retailer enrolment from Tier II, III cities Indian mobile wallet major, MobiKwik said that Tier II and Tier III towns are leading the next level of growth in cashless transactions as the steps initiated by the Central Government to promote digi Debt-hit telecom firms may seek fiscal relief to boost cash flow Saddled with debt of Rs 4.74 lakh crore, cos seek relief on airwave & licence fee payments. Decoded: How India's First-Ever 4G VoLTE Feature Phone Works ... New Delhi, Feb 6 () In a market that is flooded with smartphones priced well below Rs 3,000, homegrown player Lava has launched a 4G-enabled feature phone -– Lava 4G Connect M1 -- priced at Rs 3,333. The handset, which Lava said is India's first 4G-enabled "smart feature phone", is powered by 1. Is India prepared to recycle its huge pile of junk mobile phones and computers? India, the world's second largest mobile market, is also the fifth largest producer of e-waste, discarding roughly 18.5 lakh tonnes of e-waste each year. 1380 million mobile-connected devices in India by 2021: Cisco This growth will be fuelled by massive consumer adoption of smartphones, IoT, smart devices Lakme, Parachute, Amazon, Paytm ads found to be misleading consumers: ASCI Out of the ads against which complaints were upheld, 43 belonged to the health care category, 11 were for personal care products, seven were from F & B firms Buy Bharti Airtel, Century Textiles, ITC; sell Dabur: Sukhani Sudarshan Sukhani of s2analytics.com is of the view that one may buy Bharti Airtel, Century Textiles and Industries and ITC while one can sell Dabur India... Should Indian brands re-look the way they buy digital media? P&G's chief brand officer Marc Pritchard called the digital media buying process Food and beverages accounts for bigger slice of hotel revenue pie While F&B operations have always been a critical function at behemoths like ITC and Taj, chains like Lemon Tree said F&Bs contribution to total revenue has increased by over 16% in the current financial year to about 23%. Demonetisation puts brakes on FMCG growth in November, December Although sales growth for the full December quarter was more than last years, it was lower than in the preceding three quarters. 'Acche Din' return to Indian TV channels; 20% increase in ad volumes in January BARC data for January shows 20% increase in TV ad volumes; media experts feel the scene is likely to improve further with liquidity crisis easing. French cosmetics giant L'Oreal considers sale of The Body Shop French cosmetics company on Thursday confirmed that it was LOréal has confirmed it was exploring sale of London-based The Body Shop as the beauty retailer registered fall in sales and profits. How This Woman Built A Million-Dollar Cosmetics Business In Kenya Suzie Wokabi is the founder of Suziebeauty, Kenya’s leading indigenous cosmetics brand. Dabur brings Sri Lankan brand Spice Island to India New Delhi, Feb 6 () NewU, a beauty retail venture by homegrown FMCG major Dabur, is bringing Sri Lankan ayurvedic beauty brand Spice Island to India to strengthen its portfolio. FMCG players expect growth to return in FY18: GCPL New Delhi, Feb 6 () After enduring a tough year due to headwinds such as impact of demonetisation particularly in rural markets, the FMCG industry expects growth to return in 2017-18, said homegrown major Godrej Consumer Products Ltd. 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