News

Reliance Retail Ventures Limited and Alia Bhatt`s Ed-e-Mamma enter into a joint venture to shape a conscious future Reliance Retail Ventures Limited (RRVL) signs a joint venture with Alia Bhatt’s conscious clothing brand of kids and maternity-wear, Ed-a-Mamma for a 51% majority stake. RRVL aims to take the brand on a dynamic growth trajectory by closely collaborating with founder Alia Bhatt and leveraging the management strength of its subsidiary Reliance Brands Limited to spearhead the business. This partnership also marks a significant step forward in promoting sustainable fashion for the...
Reliance Retail Ventures Limited and Alia Bhatt`s Ed-e-Mamma enter into a joint venture to shape a conscious future
Reliance Retail Ventures Limited and Alia Bhatt`s Ed-e-Mamma enter into a joint venture to shape a conscious future
Source: PR Agency
6/09/2023 5:36:32 PM
Neutral Shoppers Stop Ltd For Target Rs. 750 - Motilal Oswal Shoppers Stop witnesses a change in leadership Management expects existing growth strategy to continue * Shoppers Stop (SHOP) announced the resignation of its MD and CEO Mr. Venugopal G. Nair after a ~three-year stint at the company. Mr. Kavindra Mishra, formerly Chief Commercial Officer and CEO of the Homestop division, will succeed him and assume the role of CEO and Executive Director. * The management indicated that there will be no change in the ongoing strategy, with continued e...
Neutral Shoppers Stop Ltd For Target Rs. 750 - Motilal Oswal
Neutral Shoppers Stop Ltd For Target Rs. 750 - Motilal Oswal
Source: Motilal Oswal Financial Services
3/09/2023 10:27:33 AM
Aditya Birla Fashion inches up on acquiring stake in TCNS Clothing Aditya Birla Fashion and Retail is currently trading at Rs. 219.40, up by 0.05 points or 0.02% from its previous closing of Rs. 219.35 on the BSE. The scrip opened at Rs. 219.55 and has touched a high and low of Rs. 220.90 and Rs. 218.10 respectively. So far 22374 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 359.40 on 02-Nov-2022 and a 52 week low of Rs. 184.40 on 23-May-2023. Last one week high and low of t...
Aditya Birla Fashion inches up on acquiring stake in TCNS Clothing
Aditya Birla Fashion inches up on acquiring stake in TCNS Clothing
Source: Accord Fintech
1/09/2023 11:31:02 AM
Buy Indiamart Ltd For Target Rs. 3,950 - Yes Securities Business outlook remains strong for FY24 Dominant market share in B2B online classified business with around 70% market share in paid listings. The overall growth in business is led by higher value proposition for sellers and the efficient matching algorithm resulting in higher buyer satisfaction. Enjoys substantial network effect attracting more buyers and sellers to the platform. The strength of business model is visible in the 13.5% CAGR growth in paying subscribers over FY18-23 and 23....
Buy Indiamart Ltd For Target Rs. 3,950 - Yes Securities
Buy Indiamart Ltd For Target Rs. 3,950 - Yes Securities
Source: Yes Securities Ltd
31/08/2023 2:02:41 PM
Alphalogic Industries jumps on bagging order worth Rs 31.47 crore Alphalogic Industries is currently trading at Rs. 233.00, up by 3.05 points or 1.33% from its previous closing of Rs. 229.95 on the BSE. The scrip opened at Rs. 233.95 and has touched a high and low of Rs. 239.00 and Rs. 219.50 respectively. So far 16800 shares were traded on the counter. The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 239.00 on 31-Aug-2023 and a 52 week low of Rs. 95.60 on 21-Jul-2023. Last one week high and low of the scrip st...
Alphalogic Industries jumps on bagging order worth Rs 31.47 crore
Alphalogic Industries jumps on bagging order worth Rs 31.47 crore
Source: Accord Fintech
31/08/2023 1:54:53 PM
Trent trades higher on the BSE Trent is currently trading at Rs. 2050.30, up by 44.95 points or 2.24% from its previous closing of Rs. 2005.35 on the BSE. The scrip opened at Rs. 2001.05 and has touched a high and low of Rs. 2053.60 and Rs. 2001.05 respectively. So far 11358 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2090.95 on 24-Aug-2023 and a 52 week low of Rs. 1155.10 on 27-Jan-2023. Last one week high and low of the scrip stood at R...
Trent trades higher on the BSE
Trent trades higher on the BSE
Source: Accord Fintech
29/08/2023 3:51:13 PM
IKEA completed 80 years globally and 5 years of retail success in India IKEA held "Ikea Iconic", an event in Mumbai to highlight their most iconic home furnishings goods and the debut of a limited edition, unique collection created for the 80th year milestone named "Nytillverkard," in honour of their 80 years of worldwide design legacy and innovation. This unique collection honors vintage designs by recreating the brand's classic products with contemporary updates, brilliant colors, and better materials. Timeless items that have been re...
IKEA completed 80 years globally and 5 years of retail success in India
IKEA completed 80 years globally and 5 years of retail success in India
Source: IANS
27/08/2023 2:22:21 PM
Archies rises on unveiling AMA Archies is currently trading at Rs. 25.90, up by 0.14 points or 0.54% from its previous closing of Rs. 25.76 on the BSE. The scrip opened at Rs. 25.38 and has touched a high and low of Rs. 26.00 and Rs. 25.38 respectively. So far 51 shares were traded on the counter. The BSE group 'T' stock of face value Rs. 2 has touched a 52 week high of Rs. 29.35 on 18-Nov-2022 and a 52 week low of Rs. 15.65 on 29-Mar-2023. Last one week high and low of the scrip stood at Rs. 26.24 and Rs....
Archies rises on unveiling AMA
Archies rises on unveiling AMA
Source: Accord Fintech
25/08/2023 11:56:54 AM
India`s Shoppers Stop tumbles over 11% after CEO resigns Shares of Shoppers Stop slumped as much as 11.5% on Friday, a day after the Indian departmental store operator said its CEO Venugopal Nair resigned due to personal reasons. The stock was down 11.1% at 721.8 rupees as of 10:11 a.m. IST. The company promoted Chief Commercial Officer Kavindra Mishra as its new CEO and executive director. Nair joined Shoppers Stop in the second half of 2020 to lead the company after the pandemic and transform it into an omnichannel retailer. In April,...
India`s Shoppers Stop tumbles over 11% after CEO resigns
India`s Shoppers Stop tumbles over 11% after CEO resigns
Source: Reuters
25/08/2023 10:37:11 AM
Reliance Retail launches youth fashion retail format Yousta India’s largest retailer, Reliance Retail, on Thursday announced the launch of its youth-focused fashion retail format, Yousta, with the opening of its first store in Hyderabad’s Sarath City Mall. With contemporary tech-enabled store layouts, Yousta offers high-fashion at affordable prices targeted at young consumers. All products, for instance, are priced below Rs 999, with a majority priced below Rs 499. Apart from housing unisex merchandise, character merchandise and a we...
Reliance Retail launches youth fashion retail format Yousta
Reliance Retail launches youth fashion retail format Yousta
Source: IANS
25/08/2023 9:59:21 AM
Buy Trent Ltd Target Rs.2,070 - Motilal Oswal Financial Services EBITDA miss led by high expenses, GM contraction * TRENT continued to deliver stellar revenue growth of 54% YoY (in line) in 1QFY24, with 12% growth on LFL basis for Westside. However, with a high mix of Zudio (lower GM segment) and aggressive store adds, gross/EBITDA margin contracted 480bp/ 400bp, leading to a 24% EBITDA miss. * We largely maintain our EBITDA estimates, building in a 38% CAGR in consolidated revenue/EBITDA over FY23-25, backed by strong footprint addition and robust L...
Buy Trent Ltd Target Rs.2,070 - Motilal Oswal Financial Services
Buy Trent Ltd Target Rs.2,070 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
22/08/2023 2:29:00 PM
Hold Aditya Birla Fashion and Retail Ltd For Target Rs.200 - ARETE Securities Aditya Birla Fashion and Retail Limited (ABFRL), affiliated with the prominent Indian conglomerate The Aditya Birla Group, faced a challenging quarter with a 38% YoY decline in EBITDA, resulting in negative operating leverage, while PAT plummeted by 271% YoY due to lackluster performance in the Pantaloons segment and sustained investments in TMRW and ethnic ventures. Of greater concern is the escalating debt and elevated inventory levels (net debt: INR 21 billion, projected to reach INR 28 bi...
Hold Aditya Birla Fashion and Retail Ltd For Target Rs.200 - ARETE Securities
Hold Aditya Birla Fashion and Retail Ltd For Target Rs.200 - ARETE Securities
Source: ARETE Securities Ltd
21/08/2023 2:19:20 PM
India August retail inflation expected below 7% - Nikhil Gupta, Motilal Oswal India's annual retail inflation in August is expected to fall below 7% after unexpectedly rising to a 15-month-high of 7.44% in July, an economist at Motilal Oswal said on Thursday. Retail inflation rose as of last count as prices of vegetables and cereals skyrocketed, beating all market expectations and putting pressure on the government to bring down prices. "I think we must look at the drivers of higher inflation in India and not unnecessarily be worried about vegetable-led ...
India August retail inflation expected below 7% - Nikhil Gupta, Motilal Oswal
India August retail inflation expected below 7% - Nikhil Gupta, Motilal Oswal
Source: IANS
17/08/2023 2:27:50 PM
Shoppers Stop rises on entering into Master Rent agreement with M/s OPC Asset Solutions Shoppers Stop is currently trading at Rs. 825.65, up by 10.30 points or 1.26% from its previous closing of Rs. 815.35 on the BSE. The scrip opened at Rs. 800.55 and has touched a high and low of Rs. 827.35 and Rs. 800.55 respectively. So far 537 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 889.75 on 09-Aug-2023 and a 52 week low of Rs. 574.85 on 18-Apr-2023. Last one week high and low of the scrip stood at Rs...
Shoppers Stop rises on entering into Master Rent agreement with M/s OPC Asset Solutions
Shoppers Stop rises on entering into Master Rent agreement with M/s OPC Asset Solutions
Source: Accord Fintech
16/08/2023 10:45:23 AM
Phoenix Mills gains on incorporating wholly owned subsidiary The Phoenix Mills is currently trading at Rs. 1725.80, up by 12.70 points or 0.74% from its previous closing of Rs. 1713.10 on the BSE. The scrip opened at Rs. 1682.05 and has touched a high and low of Rs. 1734.00 and Rs. 1682.05 respectively. So far 1060 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1797.00 on 08-Aug-2023 and a 52 week low of Rs. 1186.45 on 16-Mar-2023. Last one week high and low of the scrip...
Phoenix Mills gains on incorporating wholly owned subsidiary
Phoenix Mills gains on incorporating wholly owned subsidiary
Source: Accord Fintech
14/08/2023 9:59:40 AM
India`s Trent beats Q1 revenue view on higher footfalls Indian merchandise retailer and hypermarket operator Trent on Wednesday beat first-quarter revenue estimates, aided by an increase in footfalls. Consolidated revenue rose nearly 46% year-on-year to 26.28 billion rupees ($317.4 million) for the quarter ended June 30, compared to analysts' estimate of 22.81 billion as per Refinitiv data. Consolidated net profit rose more than 30% to 1.73 billion rupees ($20.9 million), while total expenses rose nearly 44% due to higher purchases of st...
India`s Trent beats Q1 revenue view on higher footfalls
India`s Trent beats Q1 revenue view on higher footfalls
Source: Reuters
9/08/2023 3:48:37 PM
Celebrating 60 Glorious Years: CMAI Honours Its Stalwarts and Partners  In a scintillating and yet emotionally charged evening, the Clothing Manufacturers Association of India (CMAI) celebrated its 60th anniversary by recognising and applauding Industry Stalwarts who have played a pivotal role in CMAI’s journey towards its current position of prominence.    At a glittering function in Mumbai, CMAI bestowed the prestigious CMAI ICON Award and the Loyal Partner Award upon 14 Stalwarts, 12 Service Partners and Vendors, and 2 pillars of th...
Celebrating 60 Glorious Years: CMAI Honours Its Stalwarts and Partners
Celebrating 60 Glorious Years: CMAI Honours Its Stalwarts and Partners
Source: PR Agency
4/08/2023 11:00:59 AM
Retail inflation for industrial workers inch up to 5.57% in June 2023 A labour ministry has said that retail inflation for industrial workers inched up to 5.57 per cent in June 2023 as compared to 4.42 per cent in May this year, mainly due to higher prices of certain food items. Similarly, food inflation stood at 6 per cent against 3.24 per cent in the previous month and 6.73 per cent during the corresponding month a year ago. The All-India CPI-IW (consumer price index for industrial workers) for June 2023 increased by 1.7 points and stood at 136.4 points. I...
Retail inflation for industrial workers inch up to 5.57% in June 2023
Retail inflation for industrial workers inch up to 5.57% in June 2023
Source: Accord Fintech
1/08/2023 12:34:30 PM
Shoppers Stop rises on getting nod to make investment in Pahadi Goodness Shoppers Stop is currently trading at Rs. 803.50, up by 6.00 points or 0.75% from its previous closing of Rs. 797.50 on the BSE. The scrip opened at Rs. 802.95 and has touched a high and low of Rs. 825.00 and Rs. 802.00 respectively. So far 3462 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 829.70 on 10-Jul-2023 and a 52 week low of Rs. 574.30 on 04-Aug-2022. Last one week high and low of the scrip stood at Rs...
Shoppers Stop rises on getting nod to make investment in Pahadi Goodness
Shoppers Stop rises on getting nod to make investment in Pahadi Goodness
Source: Accord Fintech
1/08/2023 10:45:26 AM
Electronics Mart India rises on starting commercial operation of new brand outlet in Telangana Electronics Mart India is currently trading at Rs. 107.28, up by 1.62 points or 1.53% from its previous closing of Rs. 105.66 on the BSE. The scrip opened at Rs. 107.44 and has touched a high and low of Rs. 108.55 and Rs. 106.52 respectively. So far 80731 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 117.45 on 24-Jul-2023 and a 52 week low of Rs. 61.45 on 27-Mar-2023. Last one week high and low of the scrip s...
Electronics Mart India rises on starting commercial operation of new brand outlet in Telangana
Electronics Mart India rises on starting commercial operation of new brand outlet in Telangana
Source: Accord Fintech
31/07/2023 11:06:23 AM
Alphalogic Industries jumps on securing order from Shoppers Stop Alphalogic Industries is currently trading at Rs. 135.00, up by 15.68 points or 13.14% from its previous closing of Rs. 119.32 on the BSE. The scrip opened at Rs. 130.00 and has touched a high and low of Rs. 139.90 and Rs. 127.95 respectively. So far 37200 shares were traded on the counter. The BSE group 'M' stock of face value Rs. 10 has touched a 52 week high of Rs. 139.90 on 31-Jul-2023 and a 52 week low of Rs. 95.60 on 21-Jul-2023. Last one week high and low of the scrip ...
Alphalogic Industries jumps on securing order from Shoppers Stop
Alphalogic Industries jumps on securing order from Shoppers Stop
Source: Accord Fintech
31/07/2023 10:03:48 AM
Mass consumers projected to drive Indian retail market to $1.3 tn by 2030 Mass’ consumers are projected to drive $1.3 trillion in the overall Indian retail market by 2030, a new report said on Wednesday. In terms of gross merchandise value (GMV), mass consumers are projected to drive over 45 per cent of the $300 billion e-commerce opportunity by 2030, contributing to $135 billion in GMV, according to the report by market research firm Redseer. As of 2022, India has 65-70 million households transacting on e-commerce platforms monthly, which is projected ...
Mass consumers projected to drive Indian retail market to $1.3 tn by 2030
Mass consumers projected to drive Indian retail market to $1.3 tn by 2030
Source: IANS
26/07/2023 12:48:27 PM
Qatar`s QIA in talks for minority stake in India`s Reliance Retail- FT Qatar Investment Authority (QIA), Qatar's sovereign wealth fund, is in talks to buy a minority stake in Indian billionaire Mukesh Ambani's Reliance Retail Ventures, the Financial Times reported on Wednesday. The fund is considering a $1 billion investment in the retail unit, giving it a stake of about 1% and valuing the business at around $100 billion, the FT said, citing three people with knowledge of the discussions. The Qatari sovereign wealth fund had not yet approved the de...
Qatar`s QIA in talks for minority stake in India`s Reliance Retail- FT
Qatar`s QIA in talks for minority stake in India`s Reliance Retail- FT
Source: Reuters
26/07/2023 10:25:48 AM
Buy Reliance Industries Limited target price at Rs 2,935 - Motilal Oswal Financial Services Ltd * Reliance Industries (RIL)’s consolidated revenue declined 5% YoY/3% QoQ to INR2,075.6b (in line). The sharp decline in O2C segment (with 31% drop in crude oil prices) was offset by continued growth in consumer business and increase in volumes from O2C and Oil & Gas businesses. * RJio’s revenue/EBITDA grew 3% QoQ each (in line), led by 2% subscriber additions and marginal increase in ARPU. Despite the aggressive 5G-led capex, network opex has remained under control during ...
Buy Reliance Industries Limited target price at Rs 2,935 - Motilal Oswal Financial Services Ltd
Buy Reliance Industries Limited target price at Rs 2,935 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
24/07/2023 3:47:16 PM
Buy Reliance Industries Limited target price at Rs 2,900 - JM Financial Institutional Securities RIL’s consolidated 1QFY24 EBITDA was 1% above JMFe (and in line with consensus) at INR 381bn (flattish YoY but down 1% QoQ) due to lower-than-expected decline in O2C EBITDA and Retail EBITDA being 2% above JMFe. Digital EBITDA was in line; ARPU and subscriber addition were a tad higher than expected. Retail business EBITDA was up 34% YoY on continued strong store addition. Reported consolidated PAT (after minority interest) was also 1% above JMFe at INR 160bn, though it was 6% below con...
Buy Reliance Industries Limited target price at Rs 2,900 - JM Financial Institutional Securities
Buy Reliance Industries Limited target price at Rs 2,900 - JM Financial Institutional Securities
Source: JM Financial Institutional Securities Ltd
24/07/2023 11:25:03 AM
Buy IndiaMART Ltd For Target Rs. 3,300 - JM Financial Institutional Securities Ltd INMART’s cash collections in 1QFY24 grew 26.4% YoY to INR 3.21bn in 1QFY24, ahead of JMFe by 3%. The beat was likely driven by price hikes and up-sells. Paid subscription additions were, however, weak at +5k QoQ, below JMFe and management guidance of 8k+ qtrly additions. We believe this indicates a shift in strategy and the company may prioritise realisation over volume in the near term (in line with competitor actions). While this may not impact a 20%+ collection growth trajectory in t...
Buy IndiaMART Ltd For Target Rs. 3,300 - JM Financial Institutional Securities Ltd
Buy IndiaMART Ltd For Target Rs. 3,300 - JM Financial Institutional Securities Ltd
Source: JM Financial Institutional Securities Ltd
22/07/2023 10:43:48 AM
Indiamart Intermesh zooms on reporting 78% rise in Q1 consolidated net profit Indiamart Intermesh is currently trading at Rs. 3138.00, up by 238.70 points or 8.23% from its previous closing of Rs. 2899.30 on the BSE. The scrip opened at Rs. 3100.00 and has touched a high and low of Rs. 3149.30 and Rs. 2940.45 respectively. So far 71430 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 3149.30 on 21-July-2023 and a 52 week low of Rs. 1965.00 on 25-Jul-2022. Last one week high and low of the...
Indiamart Intermesh zooms on reporting 78% rise in Q1 consolidated net profit
Indiamart Intermesh zooms on reporting 78% rise in Q1 consolidated net profit
Source: Accord Fintech
21/07/2023 1:48:35 PM
ICRA revises upward growth outlook for NBFC-Retail and HFC-Retail Credit rating agency ICRA in its latest report has revised upward the growth outlook for the current financial year (FY24) for the retail loans of Non-Bank Financial Companies (NBFC-Retail) and Housing Finance Companies (HFC-Retail), which account for the bulk of the overall sector. According to the report, the NBFC-Retail asset under management (AUM), estimated at around Rs 14 lakh crore as of March 2023, is expected to grow at a higher pace of 18-20 per cent in FY24 vis-a-vis the previou...
ICRA revises upward growth outlook for NBFC-Retail and HFC-Retail
ICRA revises upward growth outlook for NBFC-Retail and HFC-Retail
Source: Accord Fintech
21/07/2023 11:29:55 AM
Buy Avenue Supermart Ltd For Target Rs.4,255 - JM Financial Institutional Securities Ltd DMart’s Jun-Q report was not too different from those seen in recent quarters. Growth in sales per-store, though a tad better vs the last few quarters, is still not good enough given the business’ true potential, in our view. Discretionary sales remained an issue and continued to impact both throughput (and, therefore, operating leverage) and also gross margin. Management commentaries, interestingly, point to a silver-lining in this regard. As per the company, “general merch...
Buy Avenue Supermart Ltd For Target Rs.4,255 - JM Financial Institutional Securities Ltd
Buy Avenue Supermart Ltd For Target Rs.4,255 - JM Financial Institutional Securities Ltd
Source: JM Financial Institutional Securities Ltd
17/07/2023 2:26:04 PM
Buy Avenue Supermart Ltd For Target Rs.4,420 - Motilal Oswal Financial Services Expect growth to bottom out * Avenue Supermarts (DMART)’s 1QFY24 revenue was up 18% YoY (4% rise in revenue/sqft) but GM contracted 120bp YoY due to weak discretionary demand, which resulted in 130bp contraction in EBITDAM. Subsequently, EBITDA/ PAT grew only 3% YoY each (a miss of 13%/12%) during the quarter. * However, the adverse impact from the larger-sized stores appears bottoming out with revenue/sqft and revenue/store rising 4% YoY and 5% YoY, respectively. Further, there i...
Buy Avenue Supermart Ltd For Target Rs.4,420 - Motilal Oswal Financial Services
Buy Avenue Supermart Ltd For Target Rs.4,420 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
17/07/2023 12:30:38 PM
Electronics Mart soars on starting commercial operation of new brand outlet in Telangana Electronics Mart India is currently trading at Rs. 92.20, up by 4.10 points or 4.65% from its previous closing of Rs. 88.10 on the BSE. The scrip opened at Rs. 88.22 and has touched a high and low of Rs. 92.20 and Rs. 88.22 respectively. So far 15117 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 103.55 on 20-Oct-2022 and a 52 week low of Rs. 61.45 on 27-Mar-2023. Last one week high and low of the scrip stood ...
Electronics Mart soars on starting commercial operation of new brand outlet in Telangana
Electronics Mart soars on starting commercial operation of new brand outlet in Telangana
Source: Accord Fintech
17/07/2023 10:18:52 AM
Hold Avenue Supermart Ltd For Target Rs.3,800 - ICICI Securities Ltd Avenue Supermarts’ (DMART) share price has been largely flat over last two years. We reckon there are some structural concerns: (1) revenue growth slowing to ~20% from 25-30% (pre-covid), (2) continued underperformance in revenue per sq. ft (9% below pre-covid) due to slower-than-expected recovery in (margin-accretive) general merchandise (GM) and apparel segment. We note over the last five years, (FY19-23) GM and apparel segment for DMart has underperformed its foods and non-foods segm...
Hold Avenue Supermart Ltd For Target Rs.3,800 - ICICI Securities Ltd
Hold Avenue Supermart Ltd For Target Rs.3,800 - ICICI Securities Ltd
Source: ICICI Securities Ltd
15/07/2023 2:47:06 PM
Senco Gold lists with 35.96% premium on the BSE Senco Gold has debuted at Rs 431.00 on the BSE, up by 114 points or 35.96% from its issue price of Rs 317. The scrip is currently trading at Rs 410.60, up by 93.60 points or 29.53% from its issue price. It has touched a high and low of Rs 443.80 and Rs 408.90 respectively. So far 8.74 lakh shares were traded on the counter. The offering, which was open for subscription between July 4, 2023 and July 6, 2023 was subscribed 77.25 times. The issue price was fixed at Rs 317 per share i.e. at...
Senco Gold lists with 35.96% premium on the BSE
Senco Gold lists with 35.96% premium on the BSE
Source: Reuters
14/07/2023 12:58:11 PM
CPI rises to three-month high of 4.81% in June Retail inflation based on Consumer Price Index (CPI) rose to a three-month high of 4.81 per cent in June 2023, mainly on account of hardening prices of cereals and pulses, though it remained within the comfort zone of the Reserve Bank. The CPI based inflation moved northwards after declining for four months since February. CPI inflation stood at 4.31 per cent (revised upward from 4.25 per cent) in May 2023 and 7 per cent in June 2022. The previous high CPI was in March at 5.66 per cent. Th...
CPI rises to three-month high of 4.81% in June
CPI rises to three-month high of 4.81% in June
Source: Accord Fintech
13/07/2023 1:07:41 PM
Buy Reliance Industries Limited target price at Rs 2,825 - Motilal Oswal Financial Services Ltd * Share Swap  * Every RIL shareholder will get 1 share of Reliance Strategic Investments Limited (RSIL) of INR10 FV. RSIL will subsequently be renamed as JFS. * Adjusted for the treasury shares of 6.1% (~410m shares), total shares outstanding in JFS will be 6.35b. (Refer Exhibit 2) * Valuation * JFS owns 6.1% in RIL, which is valued at INR1.1t. This would represent a substantial portion (~90%) of JFS’s net worth. Excluding investments in RIL shares, JFS’s net...
Buy Reliance Industries Limited target price at Rs 2,825 - Motilal Oswal Financial Services Ltd
Buy Reliance Industries Limited target price at Rs 2,825 - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
10/07/2023 2:44:59 PM
India's Reliance Retail valued $92-96 billion by company-appointed consultants-source India's Reliance Retail, run by Asia's richest man Mukesh Ambani, has been valued at $92-96 billion by two global consultants appointed by the company, a source with direct knowledge of the matter told Reuters. Reliance had appointed independent valuers EY, which valued the company at $96.14 billion, while BDO valued it at around $92 billion, the source said. Reliance Retail includes Ambani's core retail businesses, including digital and brick-and-mortar stores. Reliance Ret...
India's Reliance Retail valued $92-96 billion by company-appointed consultants-source
India's Reliance Retail valued $92-96 billion by company-appointed consultants-source
Source: Reuters
7/07/2023 7:43:13 PM
India's Reliance Retail approves share capital reduction Reliance Retail, India's biggest retailer and a unit of Indian conglomerate Reliance Industries, said on Friday its board approved reducing the company's equity share capital. Reliance Retail said that except for the shares owned by its holding company, Reliance Retail Ventures, the rest of the stock will be extinguished or cancelled at a price of 1,362 rupees each on the basis of a valuation from independent registered valuers. Reliance Retail Ventures holds about 99.91% of Rel...
India's Reliance Retail approves share capital reduction
India's Reliance Retail approves share capital reduction
Source: Reuters
7/07/2023 6:30:28 PM
Titan Company surges on reporting 20% revenue growth in Q1FY24 Titan Company is currently trading at Rs. 3188.65, up by 82.95 points or 2.67% from its previous closing of Rs. 3105.70 on the BSE. The scrip opened at Rs. 3149.00 and has touched a high and low of Rs. 3211.10 and Rs. 3130.00 respectively. So far 50483 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3211.10 on 07-Jul-2023 and a 52 week low of Rs. 2102.70 on 07-Jul-2022. Last one week high and low of the scrip st...
Titan Company surges on reporting 20% revenue growth in Q1FY24
Titan Company surges on reporting 20% revenue growth in Q1FY24
Source: Accord Fintech
7/07/2023 12:10:13 PM
Buy V - Mart Retail Ltd For Target : Rs.2,600 - Motilal Oswal Financial Services Revenue up 16% YoY (in line); LFL growth remains flat YoY * Consolidated revenue at INR6.8b was up ~16% on a YoY basis (in line), mainly driven by footprint addition. * The quarter included revenue from Limeroad to the tune of ~INR170m (up 44% QoQ), which was integrated from Nov’22. Adjusted for this, revenue for VMart (including Unlimited stores) was up ~13% on a YoY basis with revenue/sqft of INR1761/sqft (quarterly). This is 2% higher YoY, but yet below pre-covid levels. * C...
Buy V - Mart Retail Ltd For Target : Rs.2,600 - Motilal Oswal Financial Services
Buy V - Mart Retail Ltd For Target : Rs.2,600 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
5/07/2023 12:58:29 PM
Buy Avenue Supermart Ltd For Target Rs.4,200 - Motilal Oswal Revenue growth in line with improving productivity Revenue grew 18% YoY; revenue per store/sqft up 5%/3% YoY * Standalone revenue grew 18% YoY to INR118.8b (in line). This is largely contributed by 11% YoY growth in store additions with revenue per store up 5% QoQ sqft to INR1,424m (annualized), 11% above pre-covid levels. Revenue/sqft was up 3% YoY to INR34,388/sqft (5% below precovid levels of INR36k per sqft), seeing signs of bottoming (after being flattish in the last three quarters...
Buy Avenue Supermart Ltd For Target Rs.4,200 - Motilal Oswal
Buy Avenue Supermart Ltd For Target Rs.4,200 - Motilal Oswal
Source: Motilal Oswal Financial Services
4/07/2023 10:09:06 AM
Electronics Mart India rises on starting commercial operation of new brand outlet in Andhra Pradesh Electronics Mart India is currently trading at Rs. 84.09, up by 0.46 points or 0.55% from its previous closing of Rs. 83.63 on the BSE. The scrip opened at Rs. 83.64 and has touched a high and low of Rs. 85.10 and Rs. 83.00 respectively. So far 31960 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 103.55 on 20-Oct-2022 and a 52 week low of Rs. 61.45 on 27-Mar-2023. Last one week high and low of the scrip stood ...
Electronics Mart India rises on starting commercial operation of new brand outlet in Andhra Pradesh
Electronics Mart India rises on starting commercial operation of new brand outlet in Andhra Pradesh
Source: Accord Fintech
3/07/2023 4:00:06 PM
Retail inflation for industrial workers eases to 4.42% in May: Labour ministry The labour ministry has said retail inflation for industrial workers eased to 4.42 per cent in May 2023 from 5.09 per cent in April and 6.97 per cent during the corresponding month a year before, mainly due to lower prices of certain food items.  Moreover, it said food inflation stood at 3.24 per cent in May as against 4.16 per cent in the previous month and 7.92 per cent during the year-ago period. The All India CPI-IW for May 2023 increased by 0.5 points to 134.7. Besides, it sai...
Retail inflation for industrial workers eases to 4.42% in May: Labour ministry
Retail inflation for industrial workers eases to 4.42% in May: Labour ministry
Source: Accord Fintech
3/07/2023 10:25:30 AM
Bank of India inaugurates its `Centralized Pool Buy-Out and Co-Lending Cell` in Mumbai to boost priority sector lending The Digital Platform and partnerships with NBFCs will facilitate more beneficial deployment of resources while making credit available to unserved and underserved segments   Bank of India today announced the launch of its ‘Centralized Pool Buy-Out and Co-Lending Cell’ in Mumbai, inaugurated by Shri Rajneesh Karnatak – MD & CEO on 26 June 2023. The Cell will be equipped with a...
Bank of India inaugurates its `Centralized Pool Buy-Out and Co-Lending Cell` in Mumbai to boost priority sector lending
Bank of India inaugurates its `Centralized Pool Buy-Out and Co-Lending Cell` in Mumbai to boost priority sector lending
Source: PR Agency
30/06/2023 10:49:44 AM
Buy Reliance Industries Limited target price at Rs 2,900 - JM Financial Institutional Securities Ltd Net debt concerns overdone, expect it to peak in FY24 Following our Mar’23 note, reiterating our BUY call on RIL as the share price then was very close to our worst-case value, the key debates with investors have been on potential triggers that could actually drive a decisive rerating in the stock. The key arguments against a re-rating were that there are limited earnings-upgrade triggers for now, low visibility on event-based triggers in the near term (viz., listing of Digital and R...
Buy Reliance Industries Limited target price at Rs 2,900 - JM Financial Institutional Securities Ltd
Buy Reliance Industries Limited target price at Rs 2,900 - JM Financial Institutional Securities Ltd
Source: JM Financial Institutional Securities Ltd
29/06/2023 11:01:22 AM
Neutral Shoppers Stop Ltd For Target Rs. 800 - Motilal Oswal ‘InTune’, SHOP aims to create a new growth engine Shoppers Stop (SHOP) has recently entered into the fast-fashion value retail segment with the launch of ‘InTune’ stores. The smaller, youth-centric family store has a very trendy look and offers sharp pricing below INR999. With InTune, SHOP aims to create a new growth engine. Foray into fast-fashion value apparel category SHOP has entered into the fast-fashion value format with ‘InTune’ brand. It h...
Neutral Shoppers Stop Ltd For Target Rs. 800 - Motilal Oswal
Neutral Shoppers Stop Ltd For Target Rs. 800 - Motilal Oswal
Source: Motilal Oswal Financial Services
29/06/2023 10:47:29 AM
Competition Commission approves acquisition of TCNS Clothing by Aditya Birla Fashion and Retail Ltd The Competition Commission of India (CCI) has approved the acquisition of TCNS Clothing Company Ltd by Aditya Birla Fashion and Retail Ltd. The proposed combination involves acquisition of 51 per cent of the expanded share capital of TCNS Clothing Company Limited by Aditya Birla Fashion and Retail Ltd. Aditya Birla Fashion is a listed company and part of the Aditya Birla conglomerate. It is engaged in retailing of branded products within the apparel, footwear and accessories segment, th...
Competition Commission approves acquisition of TCNS Clothing by Aditya Birla Fashion and Retail Ltd
Competition Commission approves acquisition of TCNS Clothing by Aditya Birla Fashion and Retail Ltd
Source: IANS
28/06/2023 9:21:50 AM
Titan company trades higher on the BSE Titan Company is currently trading at Rs. 2974.30, up by 20.15 points or 0.68% from its previous closing of Rs. 2954.15 on the BSE. The scrip opened at Rs. 2963.00 and has touched a high and low of Rs. 3023.80 and Rs. 2963.00 respectively. So far 28161 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3,023.80 on 19-Jun-2023 and a 52 week low of Rs. 1827.15 on 01-Jul-2022. Last one week high and low of the scrip s...
Titan company trades higher on the BSE
Titan company trades higher on the BSE
Source: Accord Fintech
19/06/2023 3:17:27 PM
DPIIT to meet with retail traders to discuss compliance reduction The Department for Promotion of Industry and Internal Trade (DPIIT) is all set to discuss issues related to further reducing compliance burden and promoting ease of doing business for the retail sector at a meeting of retail traders on June 16.  The meeting will be chaired by the department's joint secretary Sanjiv. The officials from ministries and departments related to the retail sector will also participate. The department is taking a series of measures in order to promote the...
DPIIT to meet with retail traders to discuss compliance reduction
DPIIT to meet with retail traders to discuss compliance reduction
Source: Accord Fintech
15/06/2023 2:35:23 PM