Aditya Birla Fashion and Retail (ABFRL) on Friday said it will acquire 51 per cent of TCNS Clothing for Rs 1,650 crore. The deal will be undertaken with acquisition of promoter’s stake through a SPA and a conditional public open. The size of deal means that it would be one of the largest deals in […]
Emkay Institutional Equities, a part of Emkay Global Financial Services, expects India will likely witness a sub-five per cent inflation in the early part of 2023, with an average rate of Consumer Price Index at 5.2 per cent for the entire calendar year. The RBI’s monetary policy actions, forecast of a normal monsoon this year, […]
In the view of Buddha Purnima, the Bengaluru civic body issued an order prohibiting the slaughter and sale of meat in the city on the day of Buddha Purnima, which will be celebrated on Friday. “Due to the Buddha Purnima celebrations on May 5, animal slaughter and sale of meat in the Bruhat Bengaluru Mahanagara […]
Union Minister of Health and Family Welfare, Mansukh Mandaviya reviewed the ‘Food Street Project’ to develop 100 healthy and hygienic food streets across the country with senior officers of the Health Ministry and Food Safety and Standards Authority of India (FSSAI), an official statement said. As per the statement, the aim of this project is […]
The new financial year 2023-24 kicked off on a relatively weaker note for retail vehicle sales in India as data showed they declined in the month of April. April saw a four per cent decline in total retail vehicle sales. Category-wise, two-wheelers and personal vehicle sales declined 7.30 per cent and 1.35 per cent to […]
Adding another brand to its portfolio, Trent launched Samoh which is its premium occasion wear brand. The debut store was launched in a Tier II city, reaching out to aspirational India. India’s Tier II cities are now waking up to the luxuries of metro cities and how Tata’s Apparel division, Trent opened the debut store […]
The 38th edition of the Retail Business Survey by the Retailers Association of India (RAI) indicates that sales in March 2023 showed growth of 6 per cent as compared to the sales levels during the same period in March 2022. Speaking about the findings, Kumar Rajagopalan, CEO, Retailers Association of India (RAI), said, “The Survey […]
Footwear retailers have sought more time for the implementation of norms of the Quality Control Order, 2020 (QCO), for footwear manufacturers. QCO norms for footwear are slated to be enforced from July 1 in the country. Retailers have urged the government to give them 8-10 months of additional time from the effective date of the […]
The Indian government is planning to announce a national retail trade policy and an accident insurance scheme for GST-registered domestic traders, according to news agency PTI. The policy is expected to provide better infrastructure and increased access to credit for traders, with provisions to ensure easy and affordable credit, digitisation of retail trade, modern infrastructural […]
Reliance Retail reported a 12.9 per cent year-on-year (YoY) rise in its consolidated net profit in Q4FY23 at Rs 2,415 crore, compared to Rs 2,139 crore in the same quarter last year. The company’s revenue from operation grew by 21.1 per cent YoY at Rs 61,559 crore in the quarter gone by. Its Earnings Before […]
