Sales grew only 5-10% last year on weak consumer sentiments
After a year of slow growth, apparel maker and retailer Provogue is reworking its business strategy to boost revenues and prop up margins, a top company executive said.
The company aims to book a profit of over Rs 250 crore from the open market sale, said two sources familiar with the development.
Q3 will be better than the second, say bankers and builders.
Nova's new owner has decided not to pursue this project.
Last week, banks were asked to factor in the loans extended to a group -- comprising subsidiaries, special purpose vehicles and related parties of a real estate company -- 'as a matter of prudence'.
A German bankruptcy court has sold off Reliance Industries' polyester making subsidiary Trevira GmbH to two local entrepreneurs for an undisclosed amount.
For its Singapore trading desk, the company aims to hire a few top level executives in a few weeks. The desks in London and Houston will also recruit more executives for finding opportunities in those markets. The company has another trading desk in Dubai. An RIL spokesperson declined to comment on the expansion of trading desks.
No one is saying the steel industry is out of trouble. The financial crunch continues, and coupled with high cost of input, severely affected the first-quarter profits of steel companies. But most agree with Tata that the signals are encouraging.
European wind turbine makers interested; deal could be $1 billion. The company aims to raise about $1 billion from the sale of a 61.28 per cent stake, said two banking sources.
JSW Energy aims to generate 11,390 Mw in the country by 2015. The company has tied up with two consortiums of lenders, led by IDBI Bank and State Bank of India, respectively, for the loans. It had recently filed a draft red-herring prospectus for a Rs 3,000 crore (Rs 30 billion) public offering with market regulator Securities and Exchange Board of India.
According to sources close to the development, the ministry feels that the National Textile Corporation (NTC), which has put the land on sale, will get better prices than the bid put in by Lodha Developers. The company, which had initially placed a bid of Rs 657.90 crore (Rs 6.57 billion), later hiked it to Rs 710 crore (Rs 7.1 billion), following a request from NTC.
A consortium of British Gas, Oil and Natural Gas Corporation and Reliance Industries, which controls the PMT fields off the west coast, is spending about Rs 2,500 crore (Rs 25 billion) for reviving the reserve in this fiscal, while new wells are being drilled at the Cairn-operated Ravva field (off the Andhra coast) for small-sized additional discoveries. The Tapti field has witnessed 'natural decline in the production profile' during the first quarter ended June 2009.
Prices of agricultural commodities have risen 23 per cent so far this month.
Companies that made expensive overseas acquisitions lead the way in driving cost efficiencies.
Last year, the group held discussions with potential investors and started putting in place a management team to run the fund. Knight Frank India executive director Keku Cola was expected to head the new fund, but he has quit and joined the Shapoorji Pallonji group. According to a report by global research firm Preqin, private equity real estate funds are still struggling to raise capital in the current economic environment.
After Pune, the swine flu scare is affecting footfalls and sales in malls and retail stores in Mumbai. Sales in these places have fallen by up to half in the past two days.
Shopping malls, multiplexes and top retailers in Pune are seeing as much as a 70 per cent drop in business owing to the swine flu outbreak in the city.
To this end, the group is consolidating its global assets under GMR Infrastructure International (registered in the Isle of Man) for a public issue in London, according to an executive who did not wish to be identified, in a move that largely replicates what metals behemoth Vedanta did six years ago.
The US-based aircraft manufacturing giant will expand its manufacturing presence, launch subsidiaries and strengthen research and development (R&D) programmes in the country. Jeppesen, a subsidiary of Boeing, is close to setting up an office in Hyderabad, while another, Aviall, the company's spare parts subsidiary, already has operations from Noida.
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