Philips To Sel Hind Lamps?

Global electronics giant Philips is considering the option to sell its stake in the Uttar Pradesh-based Hind Lamps. Bruce Inglins, Chief Financial Officer of Philips India, said the company would like to exit from this firm. "Our parent company has around 37% stake in Hind Lamps," Inglis added in a press conference with local media. Hind Lamps is a joint venture with Bajaj group. The move could be seen as the part of restructuring business in India.