As Kolkata-based retailer Spencer’s Retail charts its recovery, the company has turned its attention to aggressively expanding its presence in select regional strongholds. After rationalizing its pan-India store network over the past few quarters, Spencer’s has now outlined detailed plans to zone in on three key geographical clusters for growth – Eastern UP, West Bengal, […]
Som Distilleries and Breweries Limited, a leading manufacturer of beer and spirits in India, announced impressive 51% year-over-year volume growth in the state of Karnataka for the current financial year so far. Som Distilleries, established in 1993 and headquartered in New Delhi, produces popular beer brands like Hunter, Black Fort, and Power Cool. The company […]
Leading omni-channel retailer Shoppers Stop registered a steady 4% growth in total sales for the third quarter of FY24, despite demand headwinds impacting India’s retail sector. The growth was driven by non-apparel categories like beauty and watches/fragrances, which offset continued weakness in apparel sales. Shoppers Stop’s beauty business achieved record quarterly sales of INR 262 […]
Titan Company Limited, India’s leading consumer lifestyle company and part of the Tata Group, today reported strong second quarter results for the period ended September 30, 2023. The company’s total standalone income grew 21% year-on-year to Rs 10,027 crore in Q2 FY2023-24. Profit before tax (PBT) rose 9% to Rs 1,261 crore from Rs 1,155 […]
Marico Limited, one of India’s leading consumer goods companies, announced its results for the second quarter ended September 30, 2023. The company delivered a fairly resilient performance despite mixed demand trends and a challenging macro environment. Consolidated Revenue from Operations stood at ₹2,476 crore, registering a marginal decline of 1% year-on-year. This was led by […]
Jubilant Foodworks (JFL), which operates Domino’s Pizza and Dunkin’ Donuts chains in India, has seen a sharp 5% decline in its stock price as analysts downgraded the stock after its poor second quarter numbers. The company reported a 4.5% year-on-year (YoY) rise in revenues to Rs 13,448 million, while net profit declined 39.5% YoY to […]
Analysts have largely been positive on ITC’s second quarter results, as the diversified company reported a 2.6% year-on-year growth in revenues to Rs 16,551 crore in Q2FY23, driven by growth across cigarettes, FMCG and hotels businesses. Nuvama Research has retained its ‘BUY’ rating on the stock with a revised price target of Rs 560, up […]
Brokers have revised their ratings, estimates and price targets on consumer packaged goods company Hindustan Unilever Ltd after the company’s second quarter results. Most brokers have turned cautious in their outlook and revised down earnings and target prices, only one, Antique Stock Broking, has downgraded significantly by moving their recommendation to ‘HOLD.’ The Q2 miss […]
Major Indian consumer packaged goods (CPG) companies are expected to report muted growth for the September quarter amid slowing demand, particularly in rural areas, and persistent high inflation, according to research reports from leading brokerages. Demand, Volume and Revenue Growth Brokerages forecast muted revenue growth for consumer packaged goods (CPG) companies in Q2FY24 amid slowing […]
Zomato’s stock has seen a sharp run-up of over 120% from its 52-week lows in February 2023, leading to worries of overheating and over-valuation. However, analysts remain bullish on the long-term prospects of the food delivery platform. In a recent report, ICICI Securities said Zomato remains their top pick in the Indian internet space. They […]
Mumbai-based brokerage HDFC Securities has reiterated a SELL rating on retail giant Trent Ltd with a target price of Rs 1,370 — 33% below the current price — even as it acknowledged the company’s strong growth in recent years. Trent has been one of the most exciting retail growth stories in India, growing at a […]
One of the hottest topics of debate in investment circles in recent years has been around the disruption caused by e-commerce to brick-and-mortar entities. Many experts have warned that the rising popularity of e-commerce giants like Amazon would inflict a heavy toll on brick-and-mortal retailers, leading to downgrades of organized retailers and mall operators — […]
Mumbai-based jewellery company Renaissance Global Limited (RGL) posted a strong 23% year-on-year growth in its direct-to-consumer (D2C) business revenue to Rs 53.8 crore in the second quarter of fiscal 2024 (Q2 FY24), compared to Rs 43.9 crore in Q2 FY23. The Q2 FY24 results mark the fifth straight quarter of 20%+ D2C growth for RGL, […]
Mumbai-based footwear retailer Metro Brands Ltd plans to pursue a multi-channel, multi-brand strategy for growth in coming quarters, the company told analysts from Nuvama Institutional Equities. Metro Brands operates over 600 stores across India for its flagship Metro branded outlets and other brands like Mochi, Walkway, Da Vinci and J Fontini. The company listed on […]
Reliance Retail, the retailing arm of India’s largest private company, seems to be readying alternative strategies now that the dispute over its acquisition of Future Retail – the operator of Big Bazaar super market chain – seems headed for a protracted hearing before the National Company Law Appellate Tribunal. According to a report in Times […]
Flipkart, one of India’s top two online shopping websites, said it has started buying back used mobile phones from users in return for vouchers that can be used to buy any electronics items from the website. The ‘Sell Back’ program will be applicable to items purchased from anywhere in India, and will be expanded to […]
Future Retail Ltd, the highly indebted general retailer caught up in a tussle between US-based retailer Amazon and its Indian rival Reliance Retail, said a request made by its independent directors seeking a loan of Rs 3,500 cr was of a preliminary nature. “The communication between Amazon and Independent Directors were of a very preliminary […]
A day after Titan Co, India’s largest gold retailer, reported a strong, 36% growth in its festival quarter revenue, rival Kalyan Jewellers said it witnessed an estimated 17% increase in sales during the same period. The company, which also has outlets in the Gulf region, said India revenue jumped 15% over the final quarter of […]
Jewelry and fashion accessory maker Titan Co said it saw a 36% growth in the last three months of 2021, boosted by strong festival demand. Jewelry Buoyancy in jewellery demand driven by festive purchases in October and November helped the division achieve significant Revenue uplift for the quarter, the company said. Revenue in this flagship […]
Reliance Industries has raised $4 bln (around Rs 30,000 cr) via the largest ever foreign currency bond issuance by an Indian entity. The amount will be used to retire the group’s existing debt. The bonds have been issued in 10-year, 30-year and 40-year maturities, and also mark the first time any BBB-rated Asian company outside […]
