Explore Business Standard
Don’t miss the latest developments in business and finance.
Rajkot
A Motilal Oswal arm on Tuesday announced a Rs 400 crore investment in Rajkot-based hygiene products maker Pan Healthcare for a minority stake. The company established in 2016, which manufactures diapers and sanitary napkins, will use the funds for brand building and ramping up distribution, its promoter Chirag Pan said in a statement. Funds managed by or advised by Motilal Oswal Alternate Investment Advisors (MO Alts) have invested in the company of Pan Group, which also has interest in cement, cotton, steel and agri-trading, the statement said. Vijay Dhanuka, head of consumer sector at MO Alts said the hygiene products segment in India is significantly underpenetrated as reflected by per capita diaper consumption of less than 60 units as against 1,000 in the US and 400 in China, and the market is dominated by multinational companies. The company's strategy of creating large-scale operations, be it in manufacturing or in offline distribution through large feet-on-street workforce,
Prime Minister Narendra Modi will address the 75th "Amrut Mahotsav" of Shree Swaminarayan Gurukul Rajkot Sansthan via video-conferencing on Saturday, the PMO said. Shree Swaminarayan Gurukul Rajkot Sansthan was established at Rajkot in 1948 by seer Shri Dharmajivandasji Swami. It has expanded and currently has more than 40 branches all over the world, providing facilities for school, undergraduate and postgraduate education to more than 25,000 students, the Prime Minister's Office (PMO) said.
Prime Minister Narendra Modi on Wednesday expressed confidence that aeroplanes will soon be manufactured in Gujarat and their spare parts will be made at Rajkot in the state. He was addressing a gathering in the Race Course area of Rajkot city after launching a host of projects, including houses for the economically weaker sections. Modi is on a two-day visit to his home state Gujarat, where Assembly elections are due by December end. Praising the engineering industry in Rajkot district during his address, Modi said, "Aeroplanes will be manufactured in Gujarat soon and their spare parts will be made in Rajkot." Some leaders built bungalows for themselves after coming into politics, but did not do anything for the poor, he said without mentioning anyone. "They came into politics and built their bungalows, but never thought of improving the conditions of those living in slums. I have taken up the work of building houses for the poor" he said. On the occasion, he handed over the ...
Prime Minister Narendra Modi on Tuesday said the Congress has outsourced the contract of abusing him. Addressing a rally in Jamkandorna town of Rajkot district in Gujarat ahead of the state Assembly polls due this year-end, Modi warned BJP workers and supporters to be aware of the Congress which, he said, has stopped abusing him and is "working silently" to capture rural votes. In the last 20 years, those who were against Gujarat left no stone unturned to defame the state. They hurled choicest abuses against me, including calling me maut ka saudagar', the prime minister said. They have suddenly gone silent. They have outsourced the contract of creating ruckus, making noise and abusing me, to others. They are silently going to villages and asking people for votes, Modi said, without naming the Aam Aadmi Party (AAP), the new entrant to the poll fray in Gujarat. I should warn you against this silent strategy of the opposition party. I know this as this is being controlled by those who