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<keyword id="161914" type="General" weightage="20" keywordseo="godrej-agrovet" source="Orion">Godrej Agrovet</keyword> was allotted about 47,000 acres of land in Sangareddy district in Telangana for oil palm plantation, the company said in a release on Tuesday. Allocated by Telangana's Department of Agriculture and Cooperation (Horticulture and Sericulture), the allotted area will be utilized by the company to expand the cultivation of oil palm and set up processing units. Recently, Godrej Agrovet inaugurated an edible oil refinery at Chintalapudi in the Eluru district "We are delighted to receive additional district in the fresh allotment released by the Government of Telangana. It is a testimony of GAVL's commitment and efforts to boost oil palm plantations and promote farmer prosperity in the region. We would like to thank Government of Telangana for their support and commitment to this initiative which will benefit the farmers," said Balram Singh Yadav, Managing Director, Godrej Agrovet. The company has an expertise of more than three decades in the oil palm business. The Telangana government has set a target to extend the cultivation of oil palm across 20 lakh acres in the state. A total of ₹1,000 crore is proposed in the Budget for 2023-24 for oil palm cultivation. India is the world's second-largest consumer and number one <keyword id="451493" type="General" weightage="20" keywordseo="vegetable-oil" source="Orion">vegetable oil</keyword> importer, and it meets 60% of its need through imports. A large part of it is palm oil and its derivatives, which are imported from Indonesia and Malaysia. Although oilseed production in India has grown over the years, the production has lagged behind its consumption, resulting in continuous dependence on imports.

Telangana govt allots Godrej Agrovet 47,000 acres for oil palm plantation

New Delhi, Feb 14 () V-Sciences Investment, an investment arm of Temasek, on Friday offloaded nearly 38 lakh shares of Godrej Agrovet for a little over Rs 204 crore through open market transactions. According to bulk deal data available with the BSE, a total of 37,84,738 shares of Godrej Agrovet, agri-business firm of Godrej Industries, were sold by V-Sciences Investment Pte Ltd. The shares were offloaded on an average price of Rs 539.13, valuing the transaction at Rs 204.04 crore, the data added. Meanwhile, Godrej Industries picked up 32,20,000 shares of the agri-business company. At the end of the December 2019 quarter, V-Sciences Investment held 2,47,07,698 shares, amounting to 12.87 per cent stake, of Godrej Agrovet. Shares of Godrej Agrovet closed at Rs 520.30 apiece on the BSE, down 6.45 per cent from the previous close. SP HRS

Temasek investment arm sells Godrej Agrovet shares worth Rs 204 cr

<ul><li>Consumer goods company <keyword id="6361485" type="General" weightage="20" keywordseo="marico" source="Orion">Marico</keyword> confesses that it is facing poor demand owing to inflation and weak consumption sentiment among consumers.</li><li>Despite the poor demand outlook, Marico posted a double digit revenue growth in the December quarter due to a strong base.</li><li>Reflecting the poor commentary from FMCG company, shares of several consumer companies were trading lower.</li></ul>Pretty much everything is <a href="https://www.businessinsider.in/newsletter-10-december-2021/binewsletter/88194636.cms">getting more expensive in India</a> and people seem to be cutting down their purchases, even for everyday essentials ⁠like edible oils, latest data from Marico showed. Shareholders of the ₹6,450 crore ($865 million) consumer products maker ⁠— popular for its Parachute brand of hair oil ⁠— woke up to a sobering Tuesday when the company told the exchanges that the volume growth (think of it as units sold) was just about the same compared to the same period last year. The stock fell nearly 3% right after the market opened. <div type="image" title="marico" height="900" width="1200" msid="88682247" hostid="261"></div>While Marico said that its revenue grew in double digits i.e. anything more than 10%, but it’s commentary on consumer sentiment was much less exciting. The company blamed the “sluggish rural demand”. Rising inflation reduces people’s purchasing power and, on the other hand, it increases the cost of production too, which would shrink the profit. And it’s not Marico, its peer <keyword id="40233" type="General" weightage="20" keywordseo="emami" source="Orion">Emami</keyword> is also <a href="https://twitter.com/CNBCTV18Live/status/1478224943301083138">reportedly</a> facing a similar challenge. And, one can expect this rising trend in inflation to continue for some more time, based on the <a href="https://www.businessinsider.in/bi-newsletter/newsletter-content-10-dec21/articleshow/88189925.cms">projections given by none other than the Reserve Bank of India. </a> <div type="image" title="cpi inflation" height="900" width="1200" msid="88682268" hostid="261"></div>Here’s why the next three months are going to be costly <div type="Video" msid="88194748" hostid="261" title="Simply Put: Here's why the next three months are gonna be costly" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=88194748"></div>The same time last year, people were still reluctant to step out of their homes due to the fear of the pandemic. At the time, Marico saw a healthy growth in both revenue and volumes because people were still making more food at home, and so, spending more on edible oils like Saffola, which is a Marico brand. However, in the last three months of 2021, more people were eating out, and more frequently ⁠— at least in urban India ⁠— which meant that some of the sales bump from last year was missing this time. Following the weak commentary from Marico, from the consumer goods company, shares of several other peer companies traded lower. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fast moving consumer goods company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% returns on Jan 4, 10:10 a.m. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Marico </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Godrej Consumer Products </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.07% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dabur </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.42% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consumer Products </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.47% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Colgate Palmolive </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindustan Unilever </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.01% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/ongc-appoints-alka-mittal-as-chairperson-and-managing-director/slidelist/88681434.cms">Meet Alka Mittal, the first woman to head oil giant ONGC</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/this-smart-collar-lets-you-track-your-dogs-health-and-location/articleshow/88681461.cms">This smart collar lets you track your dog’s health and location</a>

Marico is paying the price for rising inflation because its buyers aren’t able to

As the stage is all set for students of India’s top B-schools to get placed,<a href="http://www.businessinsider.in/searchresult.cms?query=eCommerce+"> eCommerce companies</a>, too, are eying the best talent this year. As per an Economics Times report, the top B-school graduates, this year, are in receipt of offers, which are double as compared to what was on platter a year ago. 
 
The pre-placement trend is followed by the <a href="http://www.businessinsider.in/searchresult.cms?query=summer+internship">summer internship program,</a> which generally starts in July-August and continues till December. Companies like the <keyword id="136162" type="CITY" weightage="20" keywordseo="Boston-Consulting-Group">Boston Consulting Group</keyword>, Amazon, <keyword id="6369697" type="COMPANY" weightage="20" keywordseo="Godrej">Godrej</keyword> and <keyword id="15492" type="CITY" weightage="20" keywordseo="Vodafone">Vodafone</keyword> are following the trend aggressively to get tried and tested talent on board. 
 Gurgaon-based Management Development Institute has received 31 offers so far. The offers are from the companies including <keyword id="54572" type="CITY" weightage="20" keywordseo="PepsiCo">PepsiCo</keyword>, <keyword id="6359480" type="PERSON" weightage="20" keywordseo="Aditya-Birla">Aditya Birla</keyword> Group, Vodafone, <keyword id="10875" type="CITY" weightage="20" keywordseo="IBM">IBM</keyword>, Reckitt Benckiser and the Boston Consulting Group. It’s important to note that the current offers witness a major hike as compared to 2014. 
 
Kanwal Kapil, the placement chairperson of Management Development Institute, said, "We are expecting e-commerce firms and major investment banks to hire extensively through the PPO (pre-placement offer) route." 
 
Another one in the lineup is <a href="http://www.businessinsider.in/searchresult.cms?query=IIM+Bangalore">IIM Bangalore</a>. This institute too is expecting the numbers of PPOs to go up this year. Sapna Agarwal, head of career development cell at IIM Bangalore, says, "Last year was an exceptionally good year for us, with more than 30% of our batch getting placed through PPOs. We got 137 PPOs last year and we expect the number to go up this time.” 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=IIM+Kozhikode">IIM Kozhikode</a> is also expecting a rise of 10% in the numbers, informed AF Mathew, the placements chairperson of this prestigious institute. 
 This year, the Boston Consulting Group has made 47 pre-placement offers from across B-schools, which is 47% more than the last year. "We have had substantial growth over the last many years and in line with our growth we hired 95 students through campus recruitments," said <keyword id="2723481" type="PERSON" weightage="20" keywordseo="Suresh-Subudhi">Suresh Subudhi</keyword>, partner and head of recruiting. At IIMs, the firm offers a base salary of Rs 20 lakh, in addition to a variable bonus. 
 
The campus hiring requirements has gone up to 20% at Godrej this year. "Today, our businesses have a growing global presence. This kind of expansion has meant that new roles are created across businesses and countries. So far, we have concluded our summer internships for the year and have offered 20% PPOs as part of that," said Sumit Mitra, head-group human resources and corporate services, Godrej Industries Limited and Associate Companies. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=Godrej+">Godrej </a>offers pre-placement opportunities to students in the summer, autumn and winter sessions of Gurukul during the internship program. In 2014, 91% of the company’s management trainee came through Gurukul. As part of the two-month program students get to work on live projects across businesses under close mentoring from senior leaders. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=IIM+Indore">IIM Indore</a> too, is expecting a high number of PPOs from the eCommerce industry as compared to previous year. Companies who have released PPOs at IIM Indore so far are BCG, <keyword id="44863" type="CITY" weightage="20" keywordseo="HUL">HUL</keyword>, <keyword id="49855" type="COMPANY" weightage="20" keywordseo="philips">Philips</keyword> and Vodafone. 
 Raj Raghavan, director, human resources at <keyword id="6354743" type="COMPANY" weightage="20" keywordseo="Amazon-India">Amazon India</keyword>, said, "Our intern hiring numbers have seen a steady rise over the last few years. Our conversion percentage has been improving significantly and today around 25% of our total MBA hires come through PPOs." 
 
Faculty of Management Studies, Delhi has received 21 offers this year, compared to 17 last time round, from Accenture, BCG, HUL, L'Oreal, Pepsi, Philips and Vodafone. 
 
Ashok Ramchandran, director, HR at <a href="http://www.businessinsider.in/searchresult.cms?query=Vodafone+">Vodafone </a>said, "Greater hiring is expected across all domains, primarily in e-commerce and <keyword id="34523" type="CITY" weightage="20" keywordseo="fmcg">FMCG</keyword> marketing. Consulting companies are also expanding their talent pool," said a spokesperson from the institute.” 
 
Ramchandran further added, “The conversion rate from summer internships to PPOs has increased 22% at telecom operator Vodafone this year. Vodafone made 100 summer internship offers in 2014. Of these, 58% received PPOs from the company across B-schools, law schools and engineering colleges. "We continue to hold similar focus in hiring and rigor in building our talent pipeline through our flagship management trainee program called Discover."

Here’s what eCommerce companies are doing to get ‘tried and tested’ talent on board

New Delhi, Apr 15 () Shares of agriculture-related companies on Wednesday gained sharply after the government allowed farm activities in the second phase of the COVID-19 lockdown.Deepak Fertilizers and Petrochemicals Corporation advanced 11.45 per cent, Rashtriya Chemicals and Fertilizers zoomed 10.85 per cent, Chambal Fertilizers &amp; Chemicals 8.02 per cent, National Fertilizers 6.78 per cent and Coromandel International 3.89 per cent on the BSE. Among agrochemicals firm, UPL climbed 7.85 per cent and PI Industries jumped 4.77 per cent.Godrej Agrovet rose by 6.47 per cent. Tractor maker Escorts gained 3.73 per cent.Agricultural and allied activities including dairy, fisheries as well as tea, coffee and rubber plantation are allowed in the second phase of the COVID-19 lockdown, the government said on Wednesday issuing fresh guidelines."All agricultural and horticultural activities remain fully functional," the Ministry of Home Affairs said, issuing a new set of guidelines for enforcement during the second phase of the lockdown till May 3.The government has allowed farming operations and farm workers in the field. As harvesting of rabi crops like wheat is underway, the government has allowed inter and intra state movement of harvesting and sowing related machines like combined harvester and other agriculture and horticulture implements.That apart, the government has allowed shops of agriculture machinery, its spare parts including its supply chain and repairs to remain open.For smooth supply of farm inputs during the ongoing sowing of kharif crops, the government has permitted manufacturing, distribution and retail of fertilisers, pesticides and seeds. SUM ANUANU

Agriculture-related stocks rally after fresh guidelines from govt on lockdown

The Entrepreneurship Cell of <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>n Institute of Technology (IIT), Bombay is a non-profit organisation that conducts several initiatives throughout the year to promote entrepreneurship. Having received patronage from the likes of <keyword id="6361804" type="General" weightage="20" keywordseo="unesco" source="Orion">UNESCO</keyword>, Startup India and Make in India, E-Cell envisions to portray entrepreneurship as a viable career option for the younger generation and push them towards becoming job creators rather than job seekers. Eureka! - the annual business model competition of <keyword id="12393576" type="General" weightage="20" keywordseo="E-Cell-IIT-Bombay" source="Orion">E-Cell IIT Bombay</keyword> is one of their initiatives that identifies the most innovative ideas and provides support to make them a commercial success. The startups that participate in the competition receive mentoring, funding, incubation, networking, and many other opportunities. There are prizes worth ₹80 lakhs for the winners along with the opportunity to present their idea at Expo 2020 Dubai. Started in 1998 with a prize money of ₹50,000, Eureka! has grown rapidly to become Asia’s largest business model competition with more than 10,000 entries coming in every year. Many startups from Eureka! have gone on to become multi-million dollar enterprises. Registrations for startups are open at: eureka.ecell.in With a year of lockdown and restricted business activity, several problems have become prevalent in society. Eureka! envisions to bring out the best solutions to these problems in different sectors and provide the support that is needed by them to solve the woes of society. This year, the competition is divided into 7 different tracks: 1. Salesken Business Track: The Flagship track of Eureka!, the business track aims to help ideas develop into businesses that have the potential to revolutionize the world. 2. Swavalamban SIDBI Social Track: The Social track encourages ideas and B-models which cater to people closer to the bottom of the pyramid and envision the greater good of the society. 3. SBI General Fintech Track: The fintech track encompasses advances in technology and changes in business models that have the potential to transform the provision of financial services through the development of innovative instruments, channels, and systems. 4. Shell Sustainable and Affordable Energy Track: The Sustainable and Affordable energy track encourages startups that are working towards clean energy goals and providing alternatives to traditional fuels. 5. Godrej Agrovet Food and Agro Track: The Food and Agro track aims at supporting innovation in the field of Food &amp; Agriculture industry. There is a lot of potential in this sector as the millennial generation is moving towards healthy eating habits while trying to retain the enjoyment of eating junk food. 6. Westbridge Capital Pan-IIT Track: The Pan-IIT track invites entries from startups founded by students or alumni of any of the 23 Indian Institute of Technology (IITs). 7. Gulf Islamic Investments Edutech Track: With the pandemic shaking up the entire world including the education system, transition to a digital mode has now become an absolute necessity rather than a mere technology-driven trait. This track has got education and innovation excellence at its core. From a startup’s perspective, Eureka! is much more than a competition. It provides opportunities that enable startups to reach the best places and create an impact in the country. E-Cell <keyword id="61708" type="General" weightage="20" keywordseo="IIT-Bombay" source="Orion">IIT Bombay</keyword> believes that for making India a superpower and taking it to the pinnacle of success, it is essential for us to support our entrepreneurs. Eureka! is an initiative that empowers the best ideas and helps the progress of the country. So, if you think your idea has the potential to change the world, register now! Deadline for registration is 26th October. Disclaimer: Business Insider is an insights partner for the event. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/fino-payments-bank-will-be-the-first-fintech-startup-in-india-to-get-listed-on-the-bourses-and-it-is-profitable/articleshow/87280457.cms">Fino Payments Bank will be the first fintech startup in India to get listed on the bourses and it is profitable</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/amazon-backed-office-shuttle-service-shuttl-finds-a-saviour-in-chalo/articleshow/87278431.cms">Amazon-backed office shuttle service Shuttl finds a saviour in Chalo</a>

Pitch your startup ideas at IIT Bombay’s business model competition Eureka! — Here’s how you can apply

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New Delhi, Feb 27 () Following are the top business stories at 1850 hours: DCM47 BIZ-VODA IDEA-MINIMUM-PACKAGR-hit Voda Idea wants govt to put in place floor data, call tariffsNew Delhi: Vodafone Idea has demanded fixing minimum tariffs for mobile data at Rs 35 per GB, around 7-8 times of current prices, and for calls at 6 paise per minute along with monthly charges from April 1 to enable it pay statutory dues and make its business sustainable. DCM25 BIZ-RBI-CRR-CREDIT-EXEMONCRR-exempted loans: RBI says deduction only on incremental lendingMumbai: Following some banks seeking clarity on the computation of CRR to be exempted for incremental lending to three specified retail loans, the Reserve Bank has said that the deduction is available only on the equivalent incremental credit to these segments. DEL85 BIZ-LD STOCKSMarkets slump for fifth day on coronavirus woes, F&amp;O expiryMumbai: Equity indices reeled for the fifth straight session on Thursday, pressured by a sell-off in bank, IT and energy counters, as the global markets grappled with fears of the coronavirus outbreak turning into a pandemic. DCM46 BIZ-SEBI-GITANJALISebi imposes Rs 5 cr fine on Mehul Choksi, Gitanjali Gems, another individualNew Delhi: Regulator Sebi on Thursday slapped a total fine of Rs 5 crore on fugitive businessman Mehul Choksi, Gitanjali Gems and another individual for violating various regulations, including listing norms.DCM17 BIZ-VODAIDEA-GOVTNot in sound financial state; can meet liabilities only with govt support: Voda Idea New Delhi: Troubled Vodafone Idea has written to the telecom department expressing its inability to pay full AGR dues unless the government takes urgent measures, including allowing staggered payment, reduction in levies and implementation of floor prices in the crisis-ridden sector. DCM28 BIZ-CORONAVIRUS-CHICKENSALES'Chicken sales down 50%, prices by 70% in India on coronavirus rumour'New Delhi: Chicken sales in India have come down over 50 per cent and prices by 70 per cent in the last one month as speculation swirled on social media that chicken causes coronavirus disease, denting both demand and prices, a top Godrej Agrovet official said on Thursday. DEL90 BIZ-RUPEE-CLOSERupee settles 6 paise higher at 71.59 against US dollarMumbai: The Indian rupee finished 6 paise higher at 71.59 (provisional) against the US dollar on Thursday amid easing crude oil prices and weakening of the greenback overseas. DCM18 BIZ-ECONOMY-ANIL AGARWALLight at end of tunnel, Indian economy will bounce back, says Anil AgarwalNew Delhi: Indian economy will soon bounce back from its worst showing in 11 years as a steep cut in taxes will help attract investments and the massive infrastructure spending revives economic activity, mining baron Anil Agarwal said.DCM5 BIZ-NCLAT-FLIPKARTNCLAT sets asides insolvency proceedings against FlipkartNew Delhi: The National Company Law Appellate Tribunal (NCLAT) has set aside the order of the NCLT to initiate insolvency proceedings against e-commerce major Flipkart. DCM16 BIZ-NEW ZEALAND-INDIANew Zealand for bilateral trade pact with India if New Delhi does not join RCEPNew Delhi: New Zealand on Thursday said it will look forward to a bilateral trade agreement with India in case New Delhi does not join the China-backed mega trade deal RCEP. DCM48 BIZ-LD HPCL-ONGC-ACQUISITIONONGC, HPCL buy out bankers in Petronet MHB for Rs 371 crNew Delhi: State-owned Oil and Natural Gas Corp (ONGC) and its subsidiary Hindustan Petroleum Corp Ltd (HPCL) have bought out lenders in Petronet MHB Ltd, the firm that owns a petroleum product pipeline in Mangalore, for about Rs 371 crore. SHWSHW

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Telangana govt allots Godrej Agrovet 47,000 acres for oil palm plantation

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