Top News

Shoppers Stop plans to increase share of private labels: reports

Retail chain Shoppers Stop is planning to increase the share of its private labels, holding consumer events and correcting merchandise mix at Crossword book stores to improve its top line and margins, according to reports.

Reports said that the Net losses at the company widened to Rs. 110mn in the first quarter of the current financial year from Rs. 15mn in the corresponding quarter of last financial year.

Shoppers launched sales campaign around its brand Haute Curry in the last quarter and the company has seen 65% growth in the sales, report says.
 
Infocus

IIFL recommends 'Add' on Titan

IIFL Institutional Equities, a part of the IIFL Group, one of the leading players in the Indian financial services space, recommends “Add ” Titan.

According to IIFL report, Titan’s 1QFY13 results were in line with estimates as healthy Ebitda margins offset lower-than-expected revenue growth. Jewellery volumes remained feeble, declining 21% YoY, given weak consumer demand and a strong base.

The management maintained its FY13 space addition targets despite adding less than 15% of the target in 1Q.

Ability to save 1% VAT on gold purchases through direct imports and an improving sales mix in the watches and jewellery segments should aid margins. However, we expect weak demand and aggressive space expansion targets to weigh on FY13 earning growth. ADD.
 
The report was published by IIFL’s Institutional Equities Research desk.

Result

Berger Paints Q1 net profit up 19%

Berger Paints India Limited records a growth of 16% in Revenues and 19% in Profit After Tax for quarter ended on 30th June, 2012

Highlights of the Consolidated Results for the Quarter ended on 30th June, 2012 :

Net Sales for the quarter ended on 30th June, 2012 was Rs. 8.03bn as against Rs.6.93bn in the corresponding quarter of the last year representing an increase of 16 % over the corresponding period of last year.

Earnings Before Depreciation, Interest and Tax (EBDIT) for the quarter ended on 30th June, 2012 was Rs. 850mn as against Rs. 71 crores in the corresponding quarter of the last year representing an increase of 20% over the corresponding period last year.

Net profit for the quarter ended on 30th June, 2012 was Rs. 440mn as against Rs. 370mn in the corresponding quarter of last year representing an increase of 19 % over the corresponding period of last year.

Basic Earnings per Share was Rs. 1.28 compared to Rs. 1.07 in the same quarter of the previous year.

Performance of Berger Paints India Limited on a Standalone basis for the quarter ended on 30th June, 2012:
Net Sales for the quarter ended on 30th June, 2012 was Rs. 7.49bn as against Rs. 6.41bn in the corresponding quarter of the last year representing an increase of 17 % over the corresponding period of last year.
 
Net profit for the quarter ended on 30th June, 2012 was Rs. 48 crores as against Rs. 41 crores in the corresponding quarter of last year representing an increase of 17 % over the corresponding period of last year.

Kansai Nerolac Paints Q1 Net Profit up by 3.4 %

Domestic News

Lenovo launches of 4 new stores in Mumbai

In a bid to strengthen its retail foothold in India’s commercial capital, Lenovo, India’s No. 1 PC maker (according to the latest IDC/Asia Pacific Quarterly PC Tracker Q1 CY 2012) today announced the launch of 4 new stores in Mumbai. As one of the largest exclusive PC retailers with over 1000 stores across the country, the expansion is in tandem with Lenovo’s overall plan to build a strong retail infrastructure and drive hyper growth in the Indian PC market. Lenovo is committed towards the fast growing Mumbai market and aims to further ramp up its presence with a total of 25 stores by end of Q2 FY 2012-13 and 35 stores by end of FY 2012-13.
 
Speaking on the occasion, Shanil Madollathil, GM – Sales (West), Lenovo India said, “Mumbai has a large youth population who form the majority of active Internet users in India today and the number keeps growing. We envisage a huge opportunity here with ‘Gen Next’ increasingly driven by speed, entertainment, convenience and mobility in PCs. Our latest range performance machines are riding on this wave and our strong network of branded Lenovo stores will make next generation computing extremely accessible to our customers across Mumbai. Our aim is to get closer to customers and percolate the Mumbai market with 35 stores by the end of this financial year.”
 
Currently, Lenovo has a strong footprint of 19 exclusive stores in Mumbai and 85 stores across Maharashtra. Lenovo has exclusively partnered M/s Addict Infotech for the 4 new stores and has future plans to be present in the city’s leading malls as well.
 
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Berger Paints approaches Bollywood for higher market share

Oriflame launches Ecollagen [3D+] Deep Wrinkle Corrective Care

MBE unleashes Thinkway’s futuristic line of Batman toys in India

Classmate ‘Man of the Match’ campaign bags Gold at EEMAX 2012

Dulux unveils ‘Colours and You’ with Shahid Kapoor and Boman Irani

Delhi Duty Free Exclusively launches ‘Royal Salute Diamond Jubilee’ blended scotch whisky

International News

Australian June retail sale jumps

Australian retail sales reportedly increases to 1.0 percent in June as interest rate cuts and government handouts gave a chance to spend on everything from food to clothes,suggesting no urgent need for further policy easing.

According to reports, the government also showed retail sales jumped an inflation-adjusted 1.4 percent for the whole second quarter, handily outpacing forecasts of a 0.8 percent gain and a big boost to economic growth.

Michael Blythe, chief economist at Commonwealth Bank was quoted as saying, “It’s going to put a floor under growth.It shows economic policy still works and that if you give cash to consumers they will go out and spend.”