Arvind Mills to invest Rs 400cr in retail biz
Textile firm Arvind Mills today said it would invest Rs 400 crore to expand its retail business in the next four years, to reach the target of being a billion-dollar mark company.
The company would be investing Rs 300 crore in large-format retail centres and Rs 100 crore in small stores by opening 30 large retail centres (Megamart outlet) and 200 small format stores (Megamart) across 100 cities in the country by 2012.
Around Rs 8-10 crore would be invested in each outlet and the funding would be through the company's internal accruals.
Noting that the value of retail market in
The company today launched its first 'Megamart Outlet Centre' and was expecting the second Megamart outlet at Pune by May, followed by
About 8 outlet centres and 125 small format stores would be opened by the end of next financial year. The company, presently, has 75 stores across the country.
Stating that Megamart would now move to tier-II and III cities, he said stores would soon be opened in Nagercoil, Tirunelveli,
Arvind Mills managing director Sanjay Lalbhai said though the retail division's contribution to the company's turnover was presently only around 8%, it was expected to touch 50% by 2012.
Kesar Enterprises - Updates
Kesar Enterprises Ltd has informed that a new Company with the name "Kesar Terminals & Infrastructure Ltd" has been incorporated w.e.f. January 21, 2008 by the Company as its Wholly-Owned Subsidiary having its Main Object to operate storage terminals etc and to carry on the business of tanking, warehousing, storage of liquid or solid goods and all types of infrastructural activities and energy generation.
Domestic Funds net buyers Rs.1998 crs
Gross buyers Rs.3058.50 crs
Gross sellers Rs.1060.20 crs
Net buyers Rs.1998.20 crs
Domestic Funds net buyers Rs.2779 crs (P)
Provisional figures for the day :
Gross buyers Rs.4375.64 crs
Gross sellers Rs.1596.93 crs
Net buyers Rs.2778.71 crs
Indian Rupee Exchange Rate
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