Gitanjali Jewels, owned by the Gitanjali Group, has planned over 30 Gitanjali Jewels outlets across the country in the next four months.
The company, a leading manufacturer of diamond jewellery and known for its Gili and Nakshatra brands of ornaments, said that these branded jewellery outlets would be over and above the 30 Gitanjali Jewels outlets, and came at various locations across the country.
According to the sources, these proposed outlets are expected to come up Tier-III towns of the country, as the firm believes that there is a huge potential for sale of branded jewellery items in these locations.
Currently, Gitanjali Group has 125 outlets throughout the country out of which 38 were branded jewellery outlets, while the remaining outlets of the group catered to fashion, lifestyle and luxury products.
Read More...
Summary only...
Pantaloon Retail India board meeting for mulling over the restructuring of the company's business and raising funds through equity, its stock soared nearly 22 percent at the Bombay Stock Exchange on Monday, touching an intra-day high of Rs 207.80. The shares of the company - part of the Kishore Biyani-promoted Future Group - were up 16.41 percent at 199 rupees.
In January this year, Pantaloon Retail had announced its intentions of skim off four of its business entities - which also include Big Bazaar and Food Bazaar - into sovereign ancillaries, thereby keeping open their future prospects of being listed independently.
According to a Pantaloon Retail a regulatory filing to the stock exchanges last week, the agenda of the proposed board meeting was to deliberate upon the restructuring of its business, "by realigning the business lines as per verticals and considering to create separate legal entities for the same."
The filing also added that, at the meeting, the board of the company would also reflect on the issuance of securities - including issuing shares or warrants, on preferential basis to potential promoters or investors - along with thinking about "changing the name of the company in view of its new structure."
Read More...
Summary only...
Universal Cables, part of the M P Birla group, has informed that it has signed a JV pact with Japan-based Furukawa Electric Co. Ltd.
Under the arrangement, Universal Cables, in technical and financial collaboration with The Furukawa Electric Co. Ltd, Japan, would incorporate, establish operation of a Joint Venture Company, for manufacture of Optical Fibre and allied businesses in the country.
According to an official release, the company will be incorporated with an authorized capital of Rs 200 million.
Universal Cables Limited engages in the manufacture and sale of power cables, capacitors, and optical fiber in India and internationally.
The scrip of the company today closed at Rs 41, up 3 per cent compared to previous close of Rs 40.
Read More...
Summary only...
