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In a bid to help revive the tea industry, the West Bengal government has fully exempted tea gardens from payment of agricultural income tax for two fiscals (FY’19 and FY’20).
Kolkata: Tata Global Beverages Ltd is looking to divest its 41% stake in Amalgamated Plantations Pvt. Ltd—India’s second largest producer and supplier of tea with estates in Assam and the Dooars region of West Bengal. (7-0)
India's income from tea exports has risen 6.3 per cent in the first six months (April-September) of this financial year to $500.8 million. However, producers and exporters are under stress as the average export price has stagnated, primarily owing to the rupee's rise against the dollar and euro, and lower realisations from orthodox variety export.
US Secretary of State Rex Tillerson's address — 'Defining Our Relationship with India for the Next Century' (4-0)
US Secretary of State Rex Tillerson's address — 'Defining Our Relationship with India for the Next Century' (3-0)
The BJP has released a list of 68 candidates for Himachal Pradesh Assembly elections. Prem Kumar Dhumal will contest from Sujanpur seat while Pramod Sharma and Ratan Singh Pal will fight from Shimla Rural and Arki seats, respectively. (4-0)
Ajay Piramal-led Piramal Enterprises on Wednesday announced a qualified institutional placement (QIP) to raise up to Rs 4,996.2 crore. Listed companies use QIP to drum up capital by selling shares, fully and partly-convertible debentures and other instruments that can be converted in to stocks to a qualified institutional buyer. (15-0)
Tea producer Goodricke Group today said it has acquired eight tea brands of Godfrey Phillips India (GPI) for Rs 20 crore as part of its expansion of packaged tea business. Godfrey Philips is one the leading tobacco manufacturers in India. The deal will mark GPI's exit from the packaged tea business.
Easy monetary policy gives euro zone governments a window of opportunity to enact the reforms needed to boost growth once interest rates have to rise, European Central Bank President Mario Draghi said on Wednesday. “ECB research finds no convincing evidence that high interest rates lead to more reforms,” Draghi told Reuters. “In fact, the opposite is more likely to be true: lower rates tend to promote reforms, since they lead to a better macroeconomic environment. (16-0)
Tea producer Goodricke Group Limited has acquired the tea division of Godfrey Phillips Limited for a realisation of Rs 20 crore with a view to scale up its packet tea business.
Kolkata: Tea producer Goodricke Group Ltd on Tuesday acquired eight tea brands of Godfrey Phillips India Ltd for a consideration of Rs20 crore.
Aiming to grow its tea retailing business from the current nine million kg (mkg) to 14 mkg in the near term, as well as expand its portfolio, Goodricke Group has entered into an agreement to acquire the brands of Godfrey Phillips India (GPI) for a consideration of Rs 20 crore.
Godfrey Phillips entered into an agreement with Goodricke Group Limited for the acquisition of selective brands.
MUMBAI/KOLKATA Ethnic unrest in India's Darjeeling hills has wiped out the harvest of the world's most expensive tea, disrupting supplies to European buyers and potentially pushing prices higher.
MUMBAI/KOLKATA (Reuters) - Ethnic unrest in India's Darjeeling hills has wiped out the harvest of the world's most expensive tea, disrupting supplies to European buyers and potentially pushing prices higher.