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Wednesday, September 13, 2017

Gold ETFs register Rs 300 cr outflow in Apr-Aug FY18
Gold exchange traded funds (ETFs) continued losing sheen as an investment class with investors pulling out over Rs 300 crore from the instrument in April- August of this fiscal, preferring equities over them. Trading in gold ETF segment has been tepid during the last four financial years. It has witnessed outflows of Rs 775 crore in 2016-17, Rs 903 crore in 2015-16, Rs 1,475 crore in 2014-15 and Rs 2,293 crore in 2013-14. On the other hand, equity and equity-linked saving scheme (ELSS) saw an infusion of more than Rs 61,000 crore during the first five months (April-August) of the current financial year.

Tata Sons to raise stake in TGBL, Tata Chemicals
Tata Sons, the promoter of major Tata group companies, will hike its shareholding in Tata Global Beverages and Tata Chemicals by up to 6.84% and 4.39% respectively for a total estimated value of Rs 1,458 crore. Tata Sons will acquire up to 4.31 crore shares or 6.84% stake in Tata Global Beverages Ltd (TGBL) from Tata Chemicals as a part of restructuring of its investment portfolio, TGBL said in a regulatory filing.

Tata Motors launches Tiago Wizz at Rs 4.52 lakh
Tata Motors yesterday launched a limited edition version of its hatchback Tiago, with price starting at Rs 4.52 lakh (ex-showroom Delhi). The petrol variant of the limited edition version -- Tiago Wizz -- is priced at Rs 4.52 lakh while the diesel variant is tagged at Rs 5.3 lakh. "With the Tiago Wizz limited edition, we want to celebrate the success of Tiago and begin the festive season with something special for our current and potential customers," Mayank Pareek, President Passenger Vehicle Business Unit, Tata Motors, said in a statement.

Germany eyes 10 lakh visitor overnights from India by 2020
Germany is targeting 10 lakh annual visitor overnights from India by 2020 by promoting the country as one of the affordable leisure destinations in Europe.   "We have received 3,29,860 visitor overnights from India from January till May this year and are confident of reaching 8 lakh mark by the end of this year. "We are promoting Germany as an affordable destination in Europe for Indian tourists, which will help in reaching the target of 10 lakh by 2020," German National Tourist Board Director (Sales and Marketing) Romit Theophilus told PTI.

Techtextil India 2017
Techtextil India 2017, the premium international show for technical textiles and nonwovens will be inaugurated by Dr. Kavita Gupta, IAS, Textile Commissioner in Mumbai today September 13th 2017. The mega event will host over 175 companies from India, Austria, Belarus, China, France, Germany, Italy, Korea, Spain, Belgium and Switzerland. The launch of Texprocess Pavilion, will be one of the biggest highlights at the exhibition. With India has being one of the leading markets for Textile manufacturing and exports, there has been continuous need for enhancements in the technology used in this sector.

Tobacco rules must not discriminate against cigarettes: ITC
ITC has said tobacco regulation should not be discriminatory to the cigarette industry, while asserting that the FMCG major has no plans to exit the segment despite its ongoing diversification. The Kolkata-based firm said taxes on cigarettes have "increased by more than 200% in last few years" which has resulted in smuggling of cigarettes and other forms of tobacco in India. "If you look at the figures of tobacco consumption in India, over a long period it has not gone down. Tobacco consumption has only increased," ITC CEO & Executive Director Sanjiv Puri said in a media interaction.

One in ten in India is a hyperconnected consumer: GfK
One in ten of the country's internet using population is a hyperconnected consumer, according to a recent study. A hyperconnected consumer is someone who owns a smartphone, at least one other connected device, accesses the internet daily, and spends over four hours daily on the smartphone. There are around 41 million hyperconnected consumers in the country, with major cities like Delhi and Mumbai reporting the highest concentration of consumers belonging in this segment. According to the Hyperconnected Consumer study in India, they spend almost six hours daily online - double the amount of time compared to the average consumer.

Wipro Lighting concludes agreement with pureLiFi
Wipro Lighting has concluded an agreement with pureLiFi, global leaders in LiFi technology and commercialisation, to harness their LiFi technology to develop applications for the wireless communications and lighting market in Asia. Wipro Lighting will now kick-start efforts to add new  LiFi lighting concepts to their portfolio of innovative products with the help of pureLiFi, a company statement said. "As a leader in LED lighting solutions, we need to ensure we are providing our customers with the gold standard in lighting innovation. Our partnership with pureLiFi will provide the technology that will ensure we are at the cutting edge of the LiFi technology revolution," Wipro Vice President and Business Head (Commercial Lighting Business) Anuj Dhir said.

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