By Vipin Agnihotri
Videocon transitioning from electronics to exploration
Videocon Industries has just taken a step ahead by transitioning from electronics to exploration. According to sources, the company is in the race for acquiring London based Burren Energy, which digs oil in Congo and Turkmenistan.
There is a buzz in the Indian media that Videocon has submitted an expression of interest for Burren and believes that Burren’s operation would be of great value and in sync with that of its own. However, Burren of late has discarded quite a few approaches including one from the Italian energy major ENI.
Porsche to expand its operations in India
The German luxury car maker, Porsche is all set to expand its operations in India. And going forward with it, Porsche recently inaugurated a $ 2 million showroom in Mumbai and intends to open similar showrooms at Hyderabad, Bangalore and Chennai. It also plans to open a facility in Mumbai by 2009.
The company hopes to continue its legacy in the sports car segment and intends to take it to a new high. At this moment of time, Porsche’s Cayenne model sells the best, amongst its models in India.
Tanishq all set to enhance its sparkle!
Tatas are all set to capture the niche market with their jewellery brand Tanishq. And assisting them in doing so would be Tanishq’s diamond collection and the luxury store concept. Point to be noted here is that India’s diamond jewellery market is about Rs 100 billion and a good 70 per cent of this market comprises of the ultra rich.
The company is setting up its new stores in specialty malls. The pilot phase would see such stores in five malls across the country. At this moment of time, Tanishq derives 30 per cent of its revenues from diamond jewellery. Tata targets Rs 20 billion in revenues from Tanishq by this year-end from its 110 outlets spread across the country.
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