The UK retailer earned an EBITDA of 2.7 million in the year ended June 2007 on the back of 17 per cent growth in sales, said Welspun India director Akhil Jindal in Mumbai on Monday. Christy's, which was losing money, customers and market share when it was acquired by Welspun, has reversed the tide by winning back customers, adding new ones and expanding its reach by opening more shop-in-shops.
In August this year, ABN Amro Bank decided to renew the lease for its 3,100 sq ft office space at Nariman Point's Sakhar Bhavan, but the landlord dropped a bomshell by jacking up the rental to Rs 500 per sq ft.
Retaining the senior management of acquired companies has been the cornerstone of the company's strategy, be it in case of Daewoo's commercial vehicle business in South Korea, the tea company Tetley or the steel maker Corus.
The cell phone is no longer just a communications device -- it has evolved into a lifestyle statement.
Greaves Cotton, for instance, has converted half its holding into commercial real estate (a multiplex) while Elpro plans to follow suit by developing half its 37-acre land at Chinchwad.
Like the US, India too has a sub-prime market and it is booming. The success of early entrants like Citi Financial and GE Money has encouraged several others to enter the consumer lending business, nearly half of which is a sub-prime market.
Even if you assume a higher return fare of Rs 40,000, the yield will still be lower than the costs.
As competition hots up, airlines are doling out freebies to wean away customers.
Mukesh will invest Rs 25,000 crore in setting up an SEZ in Navi Mumbai
"Why should we panic? Today, the market is at a higher level. Even a 400 points fall is less than 3 per cent of the market," said Anoop S Kumar, a retail investor who works for a public sector bank. He's not alone who thinks so.
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