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Eastern's ninth plant to be set up in Karnatka

Press Trust of India  |  Kochi 

Kerala-based Eastern Condiments, engaged in manufacturing and marketing of spice powders, will be setting up its ninth plant in the country in Karnataka.

The Karnataka plant will be the latest in the list that includes facilities in Rasayani, Maharashtra and Ghaziablad in Uttar Pradesh.

Eastern Condiments Managing Director, Firoz Meeran, stated this while inaugurating Eastern's new regional headquarters in Bengaluru, a press release here said today.

Eastern, which has three facilities in Kerala, and one in the Middle East, has been growing "rapidly" in the recent past clocking 36 per cent growth in the first six months of the fiscal ended September 30 in markets outside Kerala.

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Sun Tec launches project to back young entrepreneurs * Seeking to encourage campus entrepreneurship, IT company Sun Tec has launched a seed funding initiative under which 10 teams from different engineering colleges in southern states will be selected for support to turn their ideas into market products.

Announcing the project titled "Xelerator" at a press meet today, Sun Tec CEO Nand Kumar said the selected students or teams would be provided advice, suport and funding to help them convert their ideas into viable business.

As part of the programme,the comany would send experts' teams to 30 major engineering campuses in the states to scout for talents.

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Canara Robeco enters in strategic distribution deal with iFAST * Canara Robeco Asset Management Company, a joint venture between Canara Bank and Rabobank's asset management entity Robeco, said today that it has entered into a strategic distribution alliance with iFAST Financial India.

The distribution partnership aims providing mutual funds through the funds platform of an integrated wealth management platform, iFAST that has been championing independent advisory in the country.

Both firms will jointly work together on various initiatives involving investor education, activities to enable existing mutual fund distributors to evolve as true advisors and also work towards highlighting the financial advisory opportunity to budding entrepreneurs in the country, a company release said.

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First Published: Fri, November 07 2014. 18:06 IST