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New Delhi: The merger of media assets of Reliance Industries and the India business of global media house the Walt Disney is expected to be complete by the end of the third quarter of this fiscal, according to a regulatory filing by billionaire Mukesh Ambani-led group. The fair trade regulator CCI has already approved the merger of Viacom 18 and <keyword id="19976122" type="General" weightage="20" keywordseo="Star-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Star India" meta.hostid="261" meta.entityid="Star India">Star India</keyword> and NCLT (National Company Law Tribunal) has sanctioned the scheme regarding it. "The companies are in the process of obtaining other requisite approvals for the completion of the transaction and transaction closer is expected in 3Q FY 25," informed Reliance Industries on Monday in its quarter earning statement. The merger of Reliance group-controlled media assets - TV18 Broadcast and E18 - with Network18 Media &amp; Investments has already been sanctioned by the NCLT and was made effective on October 3, it said. Earlier on September 27, the government approved the transfer of licenses relating to Non News &amp; Current Affairs TV channels held by media entities of Reliance Industries to Star India. "The Ministry of Information and Broadcasting, Government of India, vide its order dated September 27, has granted its approval for transfer of Licenses relating to Non News &amp; Current Affairs TV channels held by <keyword id="19976121" type="General" weightage="20" keywordseo="Viacom18" source="keywords" meta.keywordsubtype="org" meta.entityname="Viacom18" meta.hostid="261" meta.entityid="Viacom18">Viacom18</keyword> Media Private Limited in favour of Star India," it had said. Viacom18 is the holding company that owns the media and entertainment business of billionaire Mukesh Ambani-led Reliance Industries and Bodhi Tree Systems. Both sides are in the final stages of the merger, making some adjustments in the business as per the Competition Commission of India (CCI) directions. On August 30, the NCLT had approved the scheme of merger of Viacom18 Media and Digital 18 Media, holding media and entertainment assets of Reliance Industries with Star India. The scheme had proposed the transfer and vesting of Media Operations Undertaking from Viacom 18 and Jio Cinema into Digital18, which is a subsidiary of Viacom 18. This would be followed by "demerger, transfer and vesting of V18 Undertaking from Digital 18 into Star India". The merger of the media assets of Reliance Industries and The Walt Disney Co.'s India business will create the country's largest media empire worth over Rs 70,000 crore. Earlier, the CCI had said it has cleared the "proposed combination involving Reliance Industries Ltd, Viacom18 Media Pvt Ltd, Digital18 Media Ltd, Star India Pvt Ltd and Star Television Productions Ltd, subject to the compliance of voluntary modifications". Viacom18 is part of the RIL group, and Star India is wholly owned by The <keyword id="19986269" type="General" weightage="20" keywordseo="Walt-Disney-Company" source="keywords">Walt Disney Company</keyword>. Star Television Productions, a company incorporated in the British Virgin Islands, is owned indirectly by Walt Disney. The CCI, however, did not disclose voluntary modifications in the original deal made by the two parties. As per the deal, Mukesh Ambani-led RIL and its affiliates will hold 63.16 per cent of the combined entity that will house two streaming services and 120 television channels. Walt Disney will hold the remaining 36.84 per cent stake in the combined entity, which will also be India's largest media house. Reliance Industries has also agreed to invest close to Rs 11,500 crore into the joint venture to give it the muscle to fight rivals like Japan's Sony and Netflix. Nita Ambani, wife of billionaire and RIL Chairman <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>, will head the joint venture, while Uday Shankar will be the vice-chairperson.

Reliance expects to complete merger with Disney's India business in Q3

Ahmedabad: City-based <keyword id="23141571" type="General" weightage="100" keywordseo="DNA-Wellness" source="Orion">DNA Wellness</keyword> on Thursday said it will invest Rs 200 crore to set up over 100 cervical cancer screening labs across India by 2027. The company has acquired exclusive rights to conduct the <keyword id="23141572" type="General" weightage="20" keywordseo="DNA-Ploidy-Test" source="Orion">DNA Ploidy Test</keyword>, a diagnostic tool developed by the <keyword id="23141214" type="General" weightage="20" keywordseo="british-columbia-cancer-research-agency" source="keywords">British Columbia Cancer Research Agency</keyword>, Canada, the company said in a statement. The test, also known as CERViSure, is a quick, accurate, and non-invasive method to detect cervical cancer. DNA Wellness also announced the launch India's first CERViSure laboratory in Ahmedabad, Gujarat, which will provide easy access to cervical cancer screening facility to people. "Going forward, DNA wellness will invest Rs 200 crore to set up some 100 dedicated CERViSure laboratories across India, in a phased manner by 2027, to help the DNA Ploidy reach a maximum number of patients," the company said. "By October 2024, the company will open dedicatedlaboratories in Ahmedabad, Vadodara, Rajkot and Surat," <keyword id="23136756" type="General" weightage="20" keywordseo="pathik-bhandari" source="keywords">Pathik Bhandari</keyword>, Co-founder, DNA Wellness, said. The company will also explore collaboration with hospitals, clinics, and doctors to expand access to the DNA <keyword id="23136760" type="General" weightage="20" keywordseo="ploidy-test" source="keywords">Ploidy Test</keyword>, aiming to make it available nationwide. Cervical cancer is a leading cause of cancer-related deaths among women in India, with some 1.3 lakh new cases and 80,000 deaths reported every year, the company said. DNA Wellness is a leading player in providing advanced DNA profiling technologies in India. It works in the area of detecting genetic instability to improve patient outcomes for screening of diseases.

DNA Wellness to invest Rs 200 crore to set up over 100 cervical cancer screening labs

<ul><li>British Luxury carmaker Lotus Cars has entered the Indian auto market.</li><li>The company has launched the <keyword id="13501429" type="General" weightage="100" keywordseo="eletre" source="Orion">Eletre</keyword>, a luxury electric SUV in the country.</li><li>Here’s everything you need to know about Lotus Cars and its first car in the country.</li></ul> British carmaker Lotus Cars has become the latest entrant in the Indian auto market with the launch of Eletre, the company’s luxury electric SUV. This is the first car from the company, which has selected New Delhi for its first outlet. For those unaware, Lotus Cars has been in the sports car industry since the 1940s and is well known for its high-performance sports cars. Formula One fans will be familiar with the brand as it once had an F1 team and has won the Formula 1 World Championship seven times. The automaker sold its team to Renault in 2015. <cmsannotation type="cmsannotation" annotationid="Lotus Eletre price in India" comment="subhead" text="Lotus Eletre price in India"><keyword id="19441674" type="General" weightage="20" keywordseo="Lotus-Eletre-price-in-india" source="Orion">Lotus Eletre price in India</keyword></cmsannotation> The <keyword id="15474001" type="General" weightage="20" keywordseo="Lotus-Eletre" source="Orion">Lotus Eletre</keyword> has been priced at ₹2.55 crore ex-showroom for the base variant, ₹2.75 crore ex-showroom for the Eletre S and ₹2.99 crore ex-showroom for the Eletre R variant. The Eletre electric SUV does not have any direct rival in India at the moment, as other electric SUVs such as BMW iX are priced significantly lower. <cmsannotation type="cmsannotation" annotationid="Lotus Eletre features" comment="subhead" text="Lotus Eletre features">Lotus Eletre features</cmsannotation> The Lotus Eletre is a premium electric SUV features a sporty design, which is on-brand for Lotus. It comes with sleek L-shaped headlights and an aggressive front thanks to the front air dam. It features two vents at the bonnet for air channelling. It comes with a carbon-fibre, three-stage deployable roof-mounted spoiler at the back. It is equipped with 5-spoke alloy wheels that add to the premium look of the car and comes with connected LED tail lamps. The Lotus Eletre is offered in two powertrain options and three variants. It is equipped with dual motors and offers a top-speed of up to 265 km per hour. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Car </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eletre </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eletre S </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eletre R </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top speed </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">258 Kmph </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">258 Kmph </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">265 Kmph </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">603 PS </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">603 PS </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">905 PS </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Torque </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">710 Nm </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">710 Nm </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">985 Nm </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Battery </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">112kWh </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">112kWh </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">112kWh </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Range </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">600 km </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">600 km </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">490 km </td></tr></tbody></table> The Lotus Eletre is a feature-packed car that comes with a large 15.1-inch floating infotainment system, a digital driver’s display and a third display for the passenger. It comes with a 23-speaker KEF sound system, a panoramic sunroof and an advanced driver-assistance system (ADAS). SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/multilingual-global-office-calls-might-soon-become-easier-with-ai-live-translate-call/articleshow/105087029.cms">Multilingual global office calls might soon become easier with AI Live Translate Call</a> <a href="https://www.businessinsider.in/stock-market/news/esaf-small-finance-bank-ipo-how-to-check-allotment-status-and-gmp-value/articleshow/105065641.cms">ESAF Small Finance Bank IPO allotment – how to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/business/auto/webstories/six-out-of-the-top-ten-most-selling-cars-in-india-in-october-are-from-maruti-suzuki/slidelist/105063023.cms">Six out of the top ten most selling cars in India in October are from Maruti Suzuki</a>

Lotus Cars enters India with Eletre, a luxury electric SUV priced starting at ₹2.55 crore

India's services sector showed robust expansion in October, per the <keyword id="22267674" type="General" weightage="20" keywordseo="HSBC-India-Services-PMI" source="keywords">HSBC India Services PMI</keyword> (Purchasing Managers' Index), which rose to 58.5 last month, up from September's ten-month low of 57.7. October's figures managed to exceed even the long-run PMI average of 54.1, largely on the back of a strong sales pipeline and elevated demand. Employment, or job creation in this sector accelerated to its fastest growth rate in 26 months. Anticipating solid, sustained demand in the near term, firms added new employees at the most rapid pace in over 2 years. October also saw <keyword id="23834175" type="General" weightage="20" keywordseo="input-costs-rise" source="keywords">input costs rise</keyword> at their fastest pace in 3 months, indicating renewed demand and economic activity in the country. The ISM Services PMI, an indicator of the economic health of the US, also exceeded expectations, reaching 56.0 compared to the forecasted 53.8, suggesting strong growth within the services sector. "During October, the Indian services sector experienced strong expansions in output and consumer demand, as well as job creation, which achieved a 26-month high," said Pranjul Bhandari, Chief India Economist at HSBC. The sector saw increased business activity across multiple fronts, with export sales showing significant growth and companies reporting stronger demand from international markets including Africa, Asia, the Americas, the Middle East, and the UK. However, industry experts remain cautiously optimistic about the sector's prospects. Suman Chowdhury, Chief Economist at Acuité Ratings &amp; Research, noted that while the October recovery is promising, several factors warrant careful monitoring. “The recovery in the PMI indices in October 2024 is promising for the second half of the fiscal after the dip in several high-frequency indicators in September 2024. Industrial and service activity has expectedly received a boost from the anticipated spike in consumption demand in Q3 FY25, driven by the festivities and the marriage season," she said. Chowdhury added that it will be crucial to monitor the sustainability of these PMI indices at these elevated levels, given the reported weakness in urban demand in Q2 as flagged by FMCG companies. She also noted that potential increases in wholesale and core retail inflation, combined with higher input costs and wage pressures, could delay expected interest rate cuts. RBI governor Shaktikanta Das also noted that inflation and CPI figures for October might be elevated, pushing ahead any chances of interest rate cuts in the near future. Acuité Ratings &amp; Research maintains its GDP growth forecast at 7.0% for FY25 while acknowledging the multiple downside risks that will require close observation in the coming months.

India's Services Index jumps to 58.5 in October as employment grows the fastest in 26 months

<keyword id="19931193" type="General" weightage="20" keywordseo="Maruti-Suzuki-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Maruti Suzuki India" meta.hostid="261" meta.entityid="Maruti Suzuki India">Maruti Suzuki India</keyword> reported its <keyword id="20025887" type="General" weightage="20" keywordseo="highest-ever" source="keywords">highest-ever</keyword> <keyword id="20423741" type="General" weightage="20" keywordseo="monthly-sales" source="keywords">monthly sales</keyword> volume at 206,434 units. Total sales in the month include <keyword id="20025843" type="General" weightage="20" keywordseo="domestic-sales" source="keywords">domestic sales</keyword> of 163,130 units, sales to other original equipment manufacturers (OEMs) of 10,136 units and the highest-ever monthly <keyword id="19916774" type="General" weightage="20" keywordseo="exports" source="keywords">exports</keyword> of 33,168 units. Festival season and on top of that the deep discounts offered by various automakers have invariably helped dealers sell more cars this October. Here is a table listing out the <keyword id="19909974" type="General" weightage="100" keywordseo="Maruti-Suzuki" source="keywords">Maruti Suzuki</keyword> India car-wise sales figures in October: In October, total sales, domestic plus exports combined, were 3.6 per cent higher year-on-year. So far in 2024-25 - April to October, the total sales were 1.64 per cent higher year-on-year. Coming to exports, the shipments in October and April-October were 51 per cent and 17 per cent, higher year-on-year, respectively. In the fiscal year 2023-24, the company exported over 2.8 lakh units to more than 100 countries, holding a commanding 42 per cent share in the country's passenger vehicle exports. In other news, Maruti Suzuki India recently reached a significant milestone, with ist <keyword id="21943254" type="General" weightage="20" keywordseo="Manesar-facility" source="keywords">Manesar facility</keyword> crossing the 1 crore cumulative production mark. The Manesar plant achieved this feat in just 18 years, making it the fastest among Suzuki's global automobile manufacturing facilities to reach the 1 crore production milestone. The facility, which commenced operations in October 2006, is spread over 600 acres and manufactures a range of models, including Brezza, Ertiga, XL6, Ciaz, Dzire, Wagon R, S-Presso, and Celerio. These vehicles serve both domestic and international markets, with exports reaching regions such as Latin America, the Middle East, Africa, and neighboring Asian countries. Since its inception, Maruti Suzuki has produced over 3.1 crore vehicles, reinforcing its leadership in the Indian <keyword id="19945567" type="General" weightage="20" keywordseo="automotive-industry" source="keywords">automotive industry</keyword>. Maruti Suzuki India Limited also started the export of its acclaimed 'Made-in-India' SUV, the Fronx.

Maruti Suzuki India registers highest-ever monthly sales in festive-filled October

<keyword id="24068881" type="General" weightage="100" keywordseo="Equity-investments-in-Indian-real-estate" source="keywords">Equity investments in Indian real estate</keyword> may rise 49% to $11 billion this calendar year amid strong demand for properties, according to CII and CBRE. In the 2023 calendar year, the equity investments in real estate stood at $7.4 billion. Industry body CII and real estate consultant CBRE on Wednesday released a joint report titled 'Leading the Charge: Crafting the Skylines of Tomorrow' at the annual CII Realty 2024 conclave. Equity capital inflows touched $8.9 billion between January and September, registering a 46% year-on-year growth. "Overall equity investments in 2024 in the real estate sector are set to hit a new record surpassing $10 billion for the first time," the report said. With a resurgence in investment inflows in built-up office assets and a strong acquisition pipeline for land in the residential sector, the overall equity investments in 2024 would be in the $10-11 billion range. During January-September, institutional and collective vehicle investors accounted for nearly 40% of the overall investments. Developer companies led the total capital inflows with more than 41% share in this period. Domestic investors (predominantly developers) invested nearly USD 6 billion during the first nine months of the calendar year, dominating the overall capital inflows with an almost 65% share. In comparison, foreign investors contributed about $3.1 billion during the same timeframe. Notably, North American and Singaporean investors were the significant contributors, representing about 85% of all foreign capital inflows. Anshuman Magazine, Chairman &amp; CEO, India, South-East Asia, Middle East &amp; Africa, CBRE, said, "Projection for 2024 equity investments between $10-11 billion, highest-ever, underscores continued investor interest in the growing <keyword id="23870227" type="General" weightage="20" keywordseo="real-estate-market-in-India" source="keywords">real estate market in India</keyword>." With SEBI's SM-REIT framework, he said, smaller but high-quality assets in Tier-II markets would also present new avenues for strategic capital deployment. "We believe this regulatory support will add much-needed transparency, enabling a more diversified investment base and encouraging institutional participation across these markets," Magazine said. Going ahead, he said this growing diversification will not only solidify India's real estate sector but also pave the way for future growth across emerging asset classes.

Equity investments in Indian real estate may rise 49% to record $11 billion this year, says CII-CBRE report

In a leadership rejig, <keyword id="742386" type="General" weightage="20" keywordseo="food-beverage" source="Orion">food &amp; beverage</keyword> major <keyword id="19953787" type="General" weightage="20" keywordseo="pepsico" source="keywords">Pepsico</keyword> on Friday said <keyword id="4632597" type="General" weightage="20" keywordseo="Jagrut-Kotecha" source="Orion">Jagrut Kotecha</keyword> will lead the <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> business as the CEO, while the incumbent <keyword id="20251990" type="General" weightage="20" keywordseo="ahmed-el-sheikh" source="keywords">Ahmed El Sheikh</keyword> will assume the charge of the Middle East business unit. Kotecha, who is the Chief Commercial Officer for PepsiCo in Africa, Middle East, and South Asia (AMESA) will assume the role of CEO for PepsiCo India in Sheikh's place, the company said in a statement. Ahmed El Sheikh, who led the PepsiCo India business for almost seven years, will move on from his current role and assume new responsibilities as of March 2024, it said. "This leadership change, reflecting PepsiCo's dynamic and forward-thinking global approach, has been meticulously planned and was communicated to the India office employees yesterday (Thursday) as part of a series of leadership changes across AMESA," it said. PepsiCo <keyword id="115930" type="General" weightage="20" keywordseo="chief-executive-officer" source="Orion">Chief Executive Officer</keyword> -- Africa, Middle East &amp; South Asia -- Eugene Willemsen said India remains a pivotal market for the company, playing a crucial role in our global strategy. "Over the last six years, Ahmed has been instrumental in transforming our business, driving innovation, and steering the team through challenging landscapes. His leadership saw the introduction of pioneering products and various community-focused initiatives, and I look forward to continuing to work with him in his new capacity," he said. Welcoming Kotecha, he said, "We will continue to scale new zeniths of success under his leadership with our Indian consumers." PepsiCo, which owns brands such as Pepsi, Lay's, Kurkure, Tropicana 100%, Gatorade, and Quaker, entered the Indian market in 1989 and has grown to become one of the largest food and beverage businesses here. Pepsico India Holdings revenue from the sale of products and services on a consolidated basis was up 28.47 per cent to Rs 8,127.07 crore, for the financial year that ended on March 31, 2023.

Jagrut Kotecha to lead PepsiCo in India, Ahmed El Sheikh moved to Middle East Business

Even as international <keyword id="19910265" type="General" weightage="20" keywordseo="gold-prices" source="keywords">gold prices</keyword> fell relatively on Monday with relative ease in <keyword id="19955176" type="General" weightage="20" keywordseo="geopolitical-tensions" source="keywords">geopolitical tensions</keyword> in the Middle East, the prices of the safe haven yellow metal are seen rallying towards USD 2,500 in case of further escalation in the war situation. At the time of filing this report, gold June futures contracts were 1.4 per cent or USD 35 lower at USD 2,378.70 per ounce, after a five-week rally. According to a Bloomberg report, gold remains almost 15 per cent higher so far this year, with gains supported by central bank buying and demand from Asia. Ajay Kedia, a Mumbai-based expert and head of Kedia Advisory, said fundamentals in the gold are not working at present. He said the geopolitical conflicts in the Middle East is leading to the strengthening of the <keyword id="19976503" type="General" weightage="20" keywordseo="Dollar-index" source="keywords">Dollar index</keyword>, which is typically negative for gold. Further, he said the gold market is now in an overbought zone. Any de-escalation in the <keyword id="20132853" type="General" weightage="20" keywordseo="Middle-East-crisis" source="keywords">Middle East crisis</keyword> is key for gold, he said, as he advised investors to avoid taking positions in the market. In case of further escalation, he sees gold at USD 2500 and with de-escalation USD at 2,320. Historically, gold, as an asset, is considered to be haven as it typically manages to retain or appreciate its underlying value in times of turbulence. Gold finished March at USD 2,214 per ounce, 8.1 per cent higher month-over-month, driven by higher risk and positive momentum. The move in the gold price year-to-date has also been likely aided by growing geopolitical risk, continued central bank demand and resilient gold consumer buying, said the World Gold Council recently. "Looking forward we find that, while gold is trading at all-time highs, investment demand - especially that linked to gold ETFs - remains low and given the right conditions could provide additional support," the gold council said in a report. Particularly for India, a key market, it said Indian elections will likely stall local demand in April. "India, the world's largest democracy, goes to the polls in April. The market will see little activity during the six-week election period. To boot, a diminished wedding season on the other side suggests that, all else equal, we should not expect to see any pent-up demand from Indian consumers in June," it argued. Gold consumption tends to be impacted during the election season as typically there is heightened scrutiny on the movement of cash, gold, and jewellery. Anecdotal evidence suggests that the various industry stakeholders (bullion dealers, manufacturers, and jewellers) limit their transactions during this time, the World Gold Council said. Gold is at an all-time high and is getting attention, but the council believes assets at such levels are challenging for investors who think they may have missed the boat. "However, our analysis suggests that gold is currently well supported by fundamentals, and the low participation from US investors in particular augurs well for the rally to continue, in contrast to what we saw in 2011," it added. SEE ALSO:<a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/at-17-indian-chess-prodigy-d-gukesh-becomes-youngest-challenger-for-world-championship/slidelist/109492021.cms" target="_blank">At 17, Indian chess prodigy D Gukesh becomes youngest challenger for World Championship</a><a href="https://www.businessinsider.in/business/telecom/news/telecom-companies-may-hike-tariffs-by-up-to-17-after-the-general-elections-as-per-analysts/articleshow/109240274.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/telecom-companies-may-hike-tariffs-by-up-to-17-after-the-general-elections-as-per-analysts/articleshow/109240274.cms" target="_blank">Telecom companies may hike tariffs by up to 17% after the general elections, predict analysts</a><a href="https://www.businessinsider.in/business/auto/news/ev-sales-expected-to-grow-by-over-65-in-2024-double-its-overall-market-share/articleshow/109155691.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/ev-sales-expected-to-grow-by-over-65-in-2024-double-its-overall-market-share/articleshow/109155691.cms" target="_blank">EV sales expected to grow by over 65% in 2024, double its overall market share</a>

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