Company Overview and News

NCLT wants Assam Co. bidding norms revised

2018-04-28 livemint
Kolkata: A suitor for Assam Co. India Ltd—the country’s oldest surviving and perhaps most prized tea company (in terms of assets), now going through insolvency resolution—has successfully petitioned the National Company Law Tribunal (NCLT) to dilute eligibility conditions for bids.

Andrew Yule sells early harvest tea from Mim estate, Darjeeling at record price

2018-04-13 livemint
Kolkata: State-owned Andrew Yule and Co. Ltd on Friday announced that it had sold early harvest, or first flush tea from its Mim estate in Darjeeling district at Rs15,750 per kg, a record price for the garden.

Bengal exempts agri income tax for tea gardens for FY19, FY 20

2018-01-31 thehindubusinessline
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).

Tata Global Beverages may sell stake in Amalgamated Plantations

2018-01-11 livemint
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.

Stronger rupee dents tea exporters' income

2017-11-10 business-standard
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.

News Live: Asia stocks shed gains after data shows slower China growth

2017-10-19 moneycontrol
US Secretary of State Rex Tillerson's address  — 'Defining Our Relationship with India for the Next Century'

News Live: US welcomes India#39;s rise as a global power, says Tillerson

2017-10-18 moneycontrol
US Secretary of State Rex Tillerson's address  — 'Defining Our Relationship with India for the Next Century'

News Live: RBI worried about rise in inflation

2017-10-18 moneycontrol
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.

News Live: BJP releases list of 68 candidates for Himachal Pradesh elections

2017-10-18 moneycontrol
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. 

Godfrey Phillips exits tea biz, sells 8 brands to Goodricke for Rs 20 cr

2017-10-18 business-standard
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. 

News Live: Kamal Haasan apologises for supporting demonetisation in #39;a hurry#39;

2017-10-18 moneycontrol
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.

Goodricke group acquires tea division of Godfrey Phillips

2017-10-18 moneycontrol
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.

Goodricke acquires Godfrey Phillips India’s eight tea brands for Rs20 crore

2017-10-17 livemint
Kolkata: Tea producer Goodricke Group Ltd on Tuesday acquired eight tea brands of Godfrey Phillips India Ltd for a consideration of Rs20 crore.

Goodricke Group acquires Godfrey Phillip's tea business for Rs 20 cr

2017-10-17 business-standard
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.

Goodricke Group gained ~8.5% after agreement with Godfrey Phillips

2017-10-17 indiainfoline
Godfrey Phillips entered into an agreement with Goodricke Group Limited for the acquisition of selective brands.

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