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Bombay Dyeing slumps on Bombay HC order to surrender part of land

Shares of Bombay Dyeing slumped over 9% on Monday after the Bombay High Court ruled that the company would have to return part of its Mumbai mill land to Brihanmumbai Municipal Corporation (BMC) and Maharashtra Housing and Area Development Authority (MHADA), reports said.

According to the ruling, the company would have to hand over 65,000 square meter of land, which is one-third of the area, to the two authorities.

Reports said that the court has stayed the order till Jun 30 to enable company to file an appeal.

Pantaloon Retail declines on Q3 net loss

Murugappa group to open more retail stores

The Murugappa group reportedly to open several retail stores to give a boost to rural retail. The group today has profitable with a turnover of Rs. 13bn.

According to reports, the group runs 700 retail stores across rural Andhra Pradesh (branded Mana Gromor) and Karnataka (Namma Gromor). Plans are on to expand into Maharashtra and Tamil Nadu. The target is to have 1,000 rural retail stores.

Murugappa started three years ago as a centres for soil and farmer education has today diversified into selling urea, pesticides, seeds, micronutrients, sulphur, boron, zinc, farm merchanisation services, crop and weather insurance. They have now started selling organic manure and cattle feed, reports stated.

A. Vellayan, Chairman was quoted as saying, "When we started the rural retail stores, there was no prescribed model; we made our own model. Today on paper, we have more retail space than Pantaloon." Most stores span an area of 2,500 sq ft; while some as big as 5,000 sq ft. Each store has about 5,000 farmer members.

Domestic News

Bharti Walmart launches ' Best Price Members Women’s Council '

Bharti Walmart, the joint venture between Bharti Enterprises and Walmart Stores Inc for wholesale, business to business and cash and carry operations in India, today launched ‘Best Price Members Women’s Council’ in Chandigarh, Punjab with an aim to understand and address the hurdles faced by women entrepreneurs in their startup, scale up and other phases of business expansions.
 
As a tribute to the growing role of women entrepreneurs in India, this unique initiative endeavors to foster inclusive growth by providing training aimed at empowering women to better run and grow their businesses in addition to providing women greater access to market, both at a domestic and global level.  The Women’s Council will also help bring Walmart’s best practices through Supplier Meets to benefit these entrepreneurs.

Announcing the initiative,  Raj Jain, Managing Director and CEO, Bharti Walmart Pvt. Ltd. said, “We are committed to women’s empowerment, both within our organization and externally.  Best Price Members Women’s Council will endeavour to understand the various impediments that prevent women from becoming successful entrepreneurs, make a concerted effort to address these issues and assist women entrepreneurs along their journey toward success. We will provide a common platform where women across our supplier network can collaborate, learn and share insights and best practices.  Going forward, we will replicate the Punjab model in other regions across India.”
 
Arvind Mediratta, Chief Operating Officer, Bharti Walmart, who is leading this initiative added: “The Women’s Council will help us understand business challenges faced by small and medium enterprises (SMEs) as most of the women-owned businesses tend to be of small or medium size. We can then apply this understanding to develop our business relations with SMEs on a wider scale.”
 
Bharti Walmart is currently engaged in a number of initiatives directed towards economic upliftment of women. These include: The Cashew Value Chain Initiative under which a women owned-and-operated community-based institution has been established to provide equitable and consistent incomes for approximately 1250 women in the cashew farming and processing sector in the coastal districts of Cuddalore and Nagapattinam in Tamil Nadu. The initiative helped in setting up 3 women-owned and managed cashew processing units and 15 literacy centers.
 
Bharti Walmart operates Training Centres in Amritsar, Delhi, Bangalore and Jalna (Maharashtra), in a Public Private Partnership model with the State governments, in addition to running training centres within the Best Price Modern Wholesale stores in Jalandhar, Ludhiana and Zirakpur.  The centres provide free of cost training to equip underprivileged youth with skills training thus making them employable.  Thus far, the company has trained over 10,000 youth, of which 4000 have been employed. More than 37% of the trained youth are women.
 
The Sunhara Walmart project, in Uttar Pradesh aims to empower 2,500 underprivileged, rural women through training in best agricultural practices and linkages to higher value market outlets.

Bharti Walmart’s CSR initiatives in education are aimed at improving the quality of education for children in Government and NGO-run schools. The company has partnered with Hope Foundation to adopt 50 schools and impact 20,000 children, of which 75% will be girls.

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Steelcase worklife centre launched in Hyderabad

EO2 Entertainment presents Manish Malhotra's nature-inspired collection on Turkey

Oberoi becomes India’s first mall to carry out midnight launch of Max Payne 3

Taramay launches resort wear collection at Moon River, Defence Colony New Delhi

RAYMOND WEIL unveils classic 'Maestro Petite Seconde Or Rose'

Go sharp with Blackberrys Spring Summer 2012

Mahindra Retail introduces maternity apparel store in Gurgaon

JSM Corp. bring Pinkberry Yogurt to hottest global restaurant markets

PPZ bags ‘IMAGES Most Admired Shopping Centre Management Company of the Year’ award

Big Ideas for Small Kitchens by Kutchenhaus

Titan Eye plus announces “Upto 40% Off” Discount Offer on Frame & Sunglass collections

Conquer glamour and sensual confidence with ‘By Marcel Eau de Parfum’

VU Technologies unveils India’s first 3D HD Digital Camera

Panasonic unveils new range of Smart VIERA

TimesDeal.com mobile recharge deal gets 70,000 orders in one day

Raymond launches tailoring centre to train underprivileged youth, women

HyperCITY education collaboration with Nanhi Kali

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International News

Best Buy founder and chairman to resign

Best Buy Co. founder Richard Schulze reportedly to resign as chairman, after being allegedly accused of acting inappropriately to the board.

According to reports, Schulze will resign as chairman of the board after Best Buy’s annual meeting on June 21. He’ll be succeeded by Hatim Tyabji, currently chairman of the audit committee and a Best Buy director since 1998.

Incoming Chairman Tyabji has more than 40 years of experience in various tech-industry segments, Best Buy said. He’s been chairman and chief executive of Bytemobile, a provider of traffic management and video optimization for mobile-network operators, reports added.

Wal-Mart Q1 profit up 10%

Sears Holdings plans partial Sears Canada

Wal-Mart under investigation by SEC, DOJ, Mexican agencies

JC Penney swings to loss: reports