Retail Newsletter - January 2 to 6, 2017

India Infoline News Service | Mumbai | January 06, 2017 17:40 IST

This week, FreeCharge and Grofers came together to collaborate to make grocery purchases cashless, while Bombay Dyeing gained after its plans to revive the textile retail business. IIFL presents a weekly snapshot of all the major happenings in the Retail industry.

Retail Industry
Top News

FreeCharge, Grofers tie up to make grocery purchases cashless
FreeCharge, India’s leading digital payments platform, announced its alliance with Grofers, a leading on demand grocery delivery service provider to help consumers go cashless for their purchases across categories like groceries, food and vegetables, beauty and wellness, baby care, electronics and appliances, home and office needs among many others.FreeCharge, which has tie ups with retail chains like Hypercity, M.K. retail, Heritage Fresh etc. will further strengthen its presence in the grocery and shopping category with this association. Read More

Bombay Dyeing jumps 4.8% after plans to revive textile retail business
Bombay Dyeing & Manufacturing Company Ltd is currently trading at Rs 51.2, up by Rs 2.4 or 4.92% from its previous closing of Rs 48.8 on the BSE after the company has drawn up a major strategy to revive its textile retail business and is looking for a turnaround in 2017-18. "We are reinventing and major investments are lined up", Nagesh RajannaCEO for Retail Segment said. He added said these measures would help the segment more than treble its revenues to Rs 1,000 crore by fiscal 2020 from Rs 305 crore last year. Read More

Domestic News

Ortel strengthens its Digital Payment Services, offers Paytm Wallet Payment options for its customers
Ortel Communications Limited (Ortel), one of the leading cable television and high speed broadband services providers focused in the Indian states of Odisha, Chhattisgarh, Andhra Pradesh, Telengana, Madhya Pradesh, and West Bengal, launches their new digital bill payment option using Paytm - India’s Largest Mobile Payment and Commerce platform for its customers. Ortel has made several efforts to bring in an easy way of paying bills for its customers. Apart from debit cards, credit cards, and net banking, customers of Ortel Communications can now pay their bills through mobile wallet, Paytm, without using cash. It further strengthens its digital payment options to reduce cash transactions for its customers offering more simplicity in their bill payment system. Read More

Titan Company climbs 5% after showcasing a promising Q3
Titan Company Ltd is currently trading at Rs 349.4, up by Rs 16.35 or 4.91% from its previous closing of Rs 333.05 on the BSE. The company said that Q3 December 2016 started off on a high of the festive season and long awaited resurgence of the consumer sentiment. Titan said it had one of its best festive seasons in the last few years with both Tanishq and Watches performing well above expectations. Titan said that post the announcement of demonetization on 8 November 2016, all consumer facing businesses of the company witnessed a drastic slowdown for a few days after which recovery was clearly visible in modern retail and dedicated retail channels. Read More

FIIs/RFPIs can now invest to 49% under PIS in Nandan Denim: RBI
The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 49% of the paid up capital of Nandan Denim Limited (formerly NANDAN EXIM Limited) under the Portfolio Investment Scheme (PIS). The Reserve Bank has stated that Nandan Denim Limited (formerly NANDAN EXIM Limited) has passed resolutions at its Board of Directors’ level and a special resolution by the shareholders, agreeing for enhancing the limit from default 24% to 49% for the purchase of its equity shares by FIIs/RFPIs. The purchases could be made through primary market and stock exchanges. Read More

Nandan Denim soars 12% as FPIs can now invest up to 49%
Nandan Denim Ltd is currently trading at Rs 123.05, up by Rs 13.15 or 11.97% from its previous closing of Rs 109.9 on the BSE. The RBI on Tuesday notified that foreign portfolio investors can now invest up to 49% in the company. The central bank's notification follows a special resolution passed by the company to hike the limit for FPIs' holding in the company to 49% from 24%. Read More

Celebrity Fashions hits 20% upper circuit; to issue shares to promoters
Celebrity Fashions Ltd is currently trading at Rs 10.68, up by Rs 1.78 or 20% from its previous closing of Rs 8.9 on the BSE after the Board of Directors of the Company meeting will be held on January 6, 2017, to consider and approve issue of Equity shares on preferential basis to Promoters/ Directors and also to issue of Convertible warrants on preferential basis to Promoters/ Directors. Read More

Vakrangee gains becomes a long term debt free company
Vakrangee Limited is company focused on creating India’s largest network of last-mile retail points-of-sale, to benefit from financial inclusion, social inclusion, Digital India and a wider access to basic goods and services. Vakrangee has achieved a long-term debt free status through early repayments of all outstanding long term credit facilities sanctioned to it. The company’s annual report FY16 states the long-term borrowings of Rs 12.5 crore. Vakrangee Ltd is currently trading at Rs 275.05, down by Rs 0.8 or 0.29% from its previous closing of Rs 275.85 on the BSE. Read More
 

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