Fintech firm One97 Communications, which owns the Paytm brand, has received support from merchants, and it assured them of continuity of services without any disruption, the company said in a blog on Sunday. The blog post came amid the recent crisis around Paytm Payments Bank Limited (PPBL), an associate company of Paytm, which has been barred by the RBI from accepting deposits or top-ups in customer accounts, wallets, FASTags and other instruments after February 29.
Acquisition of Debenhams signals the entry of Arvind into the Bridge to luxury department store segment, it added.
Come winter, and Gujarat Chief Minister and Bharatiya Janata Party's prime ministerial candidate Narendra Modi may don a khadi denim jacket and a handloom denim kurta. A Delhi-based organisation has been given the mandate of weaving a three-metre khadi denim and a five-metre handloom denim fabric on an "experimental basis."
The revival has been such that denim players are experiencing a tsunami of orders. Arvind Limited, India's largest denim producer based in Ahmedabad, has its hands full with export orders. The firm has a denim production capacity of 75 lakh (7.5 million) metres a month.
After much speculation and dithering, Ahmedabad-based garments giant Arvind Limited recently spun off its brands and retail business in an effort to realise valuation and raise funds for aggressive expansion.
"Denim is one of the world's oldest fabrics, yet it remains eternally young," declared an American Fabrics magazine writer in 1969. This Levi Strauss & Co post on its website reflects what Indian denim producers intend to do -- let the Generation Y tailor the pair of jeans for the market.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The interest it has generated among designers who are helping create new styles and uses for the product is likely to leave a lasting imprint on the future of khadi.
The brand plans to open about 40 franchise-operated Gap stores in India, the company said in a statement.
The Nifty had hit its third successive record high of 7,922.70 today.
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