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Officer's Choice crosses 10 mn cases mark
Allied Blenders and Distillers today said its heritage whisky brand, Officer"s Choice, has crossed the 10 million cases mark to become the fastest growing whisky brand in the country clocking a compounded annual growth rate (CAGR) of 31 per cent over the last three years.

IndiaFirst to start ops by Dec-end, gets nod for 3 products
IndiaFirst Life Insurance has received regulatory approval to launch three products and expects to commence its operations by the month-end, a senior official said.

News of the day

Govt imposes stock limit on bulk sugar consumers
The government today imposed stock limit on bulk sugar consumers, allowing them to keep quantities sufficient for only 15 days of their consumption at any point of time. The stock limit would be in force for six months and would be applicable to consumers whose monthly sugar consumption is at least one tonne, the government said in a statement. The move will affect confectioneries, large biscuit and beverage producing units.
Small Business

Polaris mulls expansion in Europe; possible hub Sweden

India"s financial technology firm Polaris Software Lab is planning to expand its footprint in the European markets beyond continental Europe and Sweden could be the base to cater to the large untapped region. - Polaris Software launches innovative banking solution - Insurance through ATMs - IT fares better than expected - Polaris Software soars 10% on good Q1 nos - Polaris setting up centres in Egypt, Chille, Vietnam - Polaris June qtr net rises 18% "We are interested in expanding our European market base and we see Sweden as a potential hub to cater to the northern, central and eastern Europe," Polaris EMEA Chief Operating Officer Chander Singh said. Polaris is considering joint venture alliances with local service providers, system integrators and others to be able to serve large customers in Sweden and other Baltic and Nordic countries. "In the next three years, revenue from Sweden and nearby Baltic countries and other Nordic nations should increase four-fold to be in the range of $10 million to $15 million," Singh said. The company, which earned $300 million revenue last fiscal, gets 85 per cent of its revenue from the banking, financial services and insurance (BFSI) vertical. Polaris earns one-third of its revenue from the Europe- Middle-East-Africa (EMEA) region and expects to add up to 20 per cent of its revenue from Europe through the expansion planned. "In 2 to 3 years" time, if we set up our operations very strongly in this region we should be able to add 15-20 per cent of our total BFSI revenue from this particular part of the world," he said. Sources inform that the company already has Swedish bank SEB as its client and is in talks with several other banks in the north European country including some non-BFSI companies. Polaris, which recently acquired US-based insurance product and component services company SEEC Inc, said it is considering further expansion in the insurance sector possibly through acquisition. "We are interested in expanding our horizon into the insurance sector and if there are companies which are working in that segment we will be interested in acquiring them," Singh said.


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