Today, the chairman of Vishal Retail is eagerly waiting his date with the Corporate Debt Restructuring cell of lenders in the third week of November.
The growing margins suggest that the belt tightening is paying off. For example, the margins of Pantaloon Retail, the country's largest listed retailer, have gone up from 9.2 per cent in June last year to 10.6 per cent in June 2009.Others such as the Raheja-owned Shoppers Stop and Tata Group's Trent, Reliance Retail and Spencer's Retail aren't far behind.
With retailers downsizing operations, many senior executives from fast-moving consumer goods and telecom who had jumped on the retail bandwagon a couple of years ago are making a quiet comeback.
While some such as Hindalco, JSW Steel, India Cements, Essar Oil, Tata Steel and Jet Airways have already announced plans to raise a combined Rs 70,000 crore, there are many who are redrawing proposals to enter the market to raise money.
With retailers downsizing operations, many senior executives from fast-moving consumer goods and telecom who had jumped on the retail bandwagon a couple of years ago are making a quiet comeback.
Companies may do strategic hiring for specific skill sets, or there may be some activity in sectors like infrastructure or power.
Sales grew only 5-10% last year on weak consumer sentiments
The CEO of Bangalore-based Gokaldas Exports, one of India's largest garment exporters, says the rise is forcing him to forgo new orders, which could impact business in the coming quarters.
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.
Q3 will be better than the second, say bankers and builders.
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'.
The retail king is back to what he does best: Expand. Future Group chairman Kishore Biyani is planning to add two Big Bazaar stores every month and open 15 hypermarkets over the next six months.
In an attempt to avoid Satyam-like frauds, a Sebi panel has suggested rotation of audit partners signing the accounts and giving more teeth to the company's audit committee.
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.
Prices of agricultural commodities have risen 23 per cent so far this month.
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.
After a long hiatus, home sales are finally back on track. Sales of major real estate developers have more than trebled in the June quarter compared to the preceding three months, amid growing expectations that the good times will continue to roll.
Sales of commercial vehicles, which were on a decline for over a year, are showing signs of a recovery. Two out of the three CV makers reported an increase in sales last month.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances