Can Reliance go forward without Future Retail brands?

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 […]

Loan request to Amazon was preliminary: Future Retail

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 […]

Titan Co reports strong Q3 sales, boosted by festival demand

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 raises $4 bln in largest dollar bond issue from India

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 […]

Delhi High Court to again take up Future Retail’s plea on Amazon’s Singapore arbitration

The court of Chief Justice of Delhi High Court will today hear appeals filed by Future Retail and its promoters against a decision by a single judge bench yesterday that refused to issue directions to a Singapore arbitration panel. Yesterday, a Delhi High Court bench comprising Justice Amit Bansal had refused to accept arguments by […]

V2 Retail says 2021 festival sales above pre-COVID levels

V2 Retail, one of India’s largest value retail chains specializing in fashion and items of daily use, reported strong sales growth for July-September, and said the festival season this year has so far been better than pre-pandemic levels. Outside travel, tourism and entertainment sectors, the company had been one of the worst hit by the […]

Streaming revenue push Saregama profits to record levels

Saregama, India’s largest record label and an emerging force in the digital video space, looks all set to breach its pre-COVID revenue and profit numbers in the current financial year due to rising demand for streaming music. The company’s operating revenue had set a record in the year 2018-19 at Rs 544.7 cr, but declined […]

Vakrangee starts distribution of agricultural products and services

Vakrangee Ltd said it has tied up with BigHaat Agro Private Ltd to provide end-to-end Agri services, digital advisory as agri input products, including seeds and fertilizers. BigHaat is a digital agricultural platform that offers valuable inputs to farmers by using science, data and technology, such as end-to-end crop guidance and market linkages for various […]

Post COVID, Raymond cancels demerger of apparels, to monetize real estate

Mumbai-based Raymond Ltd said it has abandoned its two-year-old plan of splitting its garments, or lifestyle, business into a different company, and will instead focus on monetizing its engineering business. The company also said it will spin off its real estate business into a new company, but wholly owned by Raymond Ltd. In 2019, Raymond […]

Post COVID, Arvind Fashions tests new strategy for online

Branded apparel maker Arvind Fashions, which sells clothes under brands such as Arrow, Tommy Hilfiger, US Polo and Flying Machine in India, is trying a new strategy as far as its online business is concerned, said Director Kulin Lalbhai. While traditionally, garment vendors have looked at e-commerce as a way to get rid of their […]

Titan Co returns to growth thanks to Diwali shift

Jewellery and accessories maker Titan Company returned to growth after nearly a year, with third-quarter sales rising 12% on year, excluding bullion sales. The total income for the quarter was Rs. 7,324 crores, including sales of gold bullion to the extent of Rs. 340 crores,¬† compared to the income of Rs. 6,226 crores for the […]