Japanese car maker Nissan on Wednesday reported an over two-fold increase in sales at 5,021 units in May. The company had sold 2,080 vehicles in May 2013, Nissan Group of India said. The newly-launched brand Datsun GO contributed 1,992 units. Nissan Group of India president Kenichiro Yomura said: “Our sales performance has been encouraging since the start of FY14 and our aim is to continue to remain progressive on our performance. He further said while Terrano and Datsun GO are performance drivers, the new Sunny and Datsun GO+ are on the anvil.
Tesco completes stake buy in Trent subsidiary
Trent said on Wednesday that Tesco completed its proposed purchase of part of equity shares held by Trent in Trent’s subsidiary, Trent Hypermarket (THL). Consequently, Trent and Tesco will each hold a 50% stake in THL. This share purchase agreement was initially announced on March 21, which had also pegged the purchase amount at R150 crore. The agreement also said that Tesco would separately subscribe to additional THL equity shares for approximately R700 crore
IICA, Grant Thornton to help firms implement CSR
The Indian Institute of Corporate Affairs and tax advisory firm Grant Thornton have entered into a pact to develop capacity of domestic firms for effective implementation of corporate social responsibility (CSR) rules laid down under the new Companies Act. The memorandum of understanding (MoU) was signed on Tuesday. “With the notification of the rules, the agenda has been set for knowledge and awareness building and to show the corporates what they can do for national development,” IICA DG & CEO Bhaskar Chatterjee said.
Glenmark Pharma opens facility in Switzerland
Glenmark Pharmaceuticals on Wednesday opened a new manufacturing facility in Switzerland for supply of clinical trial material. Glenmark Pharmaceuticals SA (GPSA), a wholly-owned subsidiary of the company has opened its new cGMP compliant monoclonal antibody manufacturing facility in La Chaux-de-Fonds, Switzerland. “This manufacturing facility supplements Glenmark’s existing in-house discovery and development capabilities and will supply material for clinical development,” it added.
Triumph eyes three-fold jump in sales in 2 years
British cult bike maker Triumph is aiming for a three-fold increase in its sales in India targeting to sell around 2,700 units in two years. The company, which launched operations in India last year, has sold 450 units and expects to touch the 500-mark by the end of this month. “We expect to sell a total of around 1,200 units in 2014-15 and looking to retail 1,500 units