The Times of India Monday reported that Dutch consumer electronics firm Royal Philips is keen on turning India into an innovation hub for the development of more locally relevant products, particularly for its domestic appliances segment.
The Times indicated that Philips, which had acquired Chennai-based kitchen appliances firm Preethi in January this year, said it is

Continental, one of the leading international automotive suppliers and the world’s fourth largest tire manufacturer, has acquired 100% shareholding in Modi Tyres Company Limited (MTCL), a subsidiary of Modi Rubber LTD.
Further to the announcement in April, Continental confirmed Friday that it has now received the necessary regulatory clearances and has completed the acquisition. The purchase

Deal Curry Wednesday reported Gravita India Ltd has acquired a majority 80% stake in Jammu & Kashmir-based Metal Inc. The Company is also under process to acquire the balance 20% in Metal Inc, making it a 100% wholly owned unit.
The deal will increase Gravita’s lead smelting and refining production capacity by 3,600 mtpa to 46,200

Dana Holding Corporation announced Wednesday that it has completed two transactions that will enhance its position for further growth in the emerging markets of China and India.
Dana acquired the commercial-vehicle axle business of Axles India Ltd. (AIL). The company has also increased its stake in Dongfeng Dana Axle Co., Ltd. (DDAC), a China-based commercial-vehicle axle

Kokuyo S&T Co Ltd, a consolidated subsidiary of Kokuyo Co Ltd, announced it had acquired a majority of Camlin shareholding. Camlin Limited is a major manufacturer of stationery and color products located in Mumbai, India.
Kokuyo commenced business partnership with Camlin last year, co-operating in the sale of notebooks, and this Transaction is a friendly acquisition,

The Economic Times (ET) of India Monday reported that Navis Capital Partners has bought majority stake in Mumbai-based Classic Stripes Private Limited for $100 million. The funds raised will be used for expansion, including increasing existing production capacity.
According to the Times, a source familiar with the situation confirmed that the Malaysia-based Navis Capital Partners picked

An affiliate of global alternative asset manager, The Carlyle Group, has invested US$25 million in Visen Industries Limited, a large manufacturer of water-based polymer emulsions in India. Funds from the affiliate, First Carlyle Ventures III (FCV III), will be used by Visen to expand its manufacturing capacities in India and abroad.
Visen is well established in

HSIL Limited, India’s leading Building Products and Container Glass Company has signed Share Purchase Agreement (SPA) with existing promoter shareholders of Garden Polymers Pvt. Ltd. (Garden), to acquire 60% stake in all cash deal.
The remaining 40% stake will be bought by the promoter group of HSIL on same terms and value. Total deal size agreed

Schneider Electric announced Tuesday that it has signed an agreement to acquire 74% of Luminous Power Technologies Pvt. Ltd., a market leader in India that provides inverters, UPS and power storage systems to help homes and small and medium sized businesses face frequent power cuts.
The purchase price for 74% of the shares is INR 14

According to the Wall Street Journal, Honda Motor Co.’s (HMC) Indian two-wheeler unit will invest about $331 million, approximately INR15 billion, on its production capacity expansion plan. A source close to the deal told the Wall Street Journal the company is embarking on an ambitious expansion plan as it seeks to exploit rapidly rising demand