Industry News
Balmer Lawrie’s businesses to be sold off separately
Balmer Lawrie, India’s largest grease manufacturer and supplier, is a medium- sized public sector undertaking. It is a stock-listed company and the government owns a majority of shares. Business news site ‘Mint’ reported that SBI Capital Markets Ltd., the government’s advisor for the disinvestment, decided to recommend separate sales because Balmer Lawrie’s businesses are so different. It is a Miniratna under the ministry of petroleum and natural gas and is present in eight businesses —travel, industrial packaging, greases and lubricants, leather chemicals, logistics, logistics infrastructure, logistics services, and refinery and oil field services. Throughout its history it has engaged in a wide variety of businesses. “Given that Balmer Lawrie operates in disparate business areas that are unrelated, perhaps the best way forward may be to offload these eight strategic business units (SBUs) separately. SBI Cap will shortly make a presentation to a committee headed by NITI Aayog CEO Amitabh Kant about the way ahead for the Balmer Lawrie disinvestment," said the source.
Nissan India to hire 1,000 plus workforce to reduce waiting period on Magnite
The compact SUV Nissan Magnite is named the most successful product launched by the company so far, as it has recorded 32,800-plus bookings and 1,80,000-plus enquiries since its launch, the statement said. Ashwani Gupta, COO, Nissan Motor Company, said, “We are happy to reinforce our industrial strategy with a third shift to meet the increasing customer demand. We hope to continue our contribution to the manufacturing and industrial sector in the country and help create more job opportunities during this uncertain period.”
Nissan India has reached a colossal milestone with the launch of the all-new Nissan Magnite. Customers have given their overwhelming response with a record level of bookings, and as the token of our appreciation, we would like to continue the special introductory price till further notice,” Rakesh Srivastava, Managing Director, Nissan Motor India, said.
