COMPANY EXPANSION
OYO's co-working firm Innov8 starts 3 new centres in Delhi-NCR
Innov8, which was acquired by OYO in 2019, has invested Rs 10 crore towards the development of these co-working centres. Founded in 2015, Innov8 is currently spread across nine cities - Delhi, Gurugram, Mumbai, Pune, Chennai, Bengaluru, Ahmedabad, Hyderabad, and Indore - with over 30 centres hosting more than 8,000 employees of its clients.
Hindustan Copper may exceed capex target of Rs 350 cr this fiscal year
Hindustan Copper Ltd will likely exceed its Rs 350 crore capex target this year, repeating last year’s success. The company’s expansion includes Rakha mine projects, driven by double-digit demand growth in key sectors. Under Ministry of Mines control, India's low per capita copper consumption boosts potential. It produces and markets copper concentrate, cathodes, and continuous cast rods.
Tata Power invests over Rs 4,200 cr in network expansion, upgrade in Odisha
Tata Power has invested Rs 4,245 crore in infrastructure expansion and network upgrades in Odisha over the past 3-4 years. The company operates four joint ventures with the government, serving over 9 million customers. The investment includes Rs 1,232 crore through government-backed schemes, including laying 33 KV lines and adding 30,230 distribution transformers.
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Titan Eye+ to resume expansion strategy amid growing eyewear market
Titan Eye+, an eyewear retailer, will resume network expansion from July. The company, an arm of Titan, has over 900 stores across 350 cities and recorded earnings of Rs 707 crore in fiscal year 2023-24. The company is aiming to expand its premium eyewear market share to 10% or less, with the launch of retail store Runway for premium sunglasses.
Titan lines up aggressive expansion plans for Tanishq, Taneira, other brands this year, says MD
Venkataraman was talking to reporters after unveiling one of the company's Helios watch stores along with the 59th jewellery store Tanishq and the 7th Taniera store at Pondy Bazaar, in Chennai. Taniera offers the best of Indian sarees under one roof. It offers handcrafted sarees along with a range of ready to wear blouses, kurtas, short tops among others, the press release said. The launch of the new brand outlets today marks a significant milestone in Titan's ongoing commitment towards aggressive retail expansion in FY24-25, particularly in Tier I, II and III geographies.
Royal Orchid aims for major expansion with 11,000 keys by 2026
Royal Orchid, a hospitality company based in Bangalore, plans to expand its portfolio to 11,000 keys over the next two years by entering new markets in Jammu & Kashmir, Uttar Pradesh, Andhra Pradesh, and Telangana, and by enhancing its presence in existing locations.
Anil Ambani's Reliance Infra to raise USD 350 mn FCCB to repay rupee debt, expansion
The company has debt facilities in form of term loans on non-convertible debentures of Rs 2253 crore and Rs 703 crore respectively, according to a Care Rating report dated February 26 this year.
PNGRB seeks to regulate LNG terminals
Companies intending to establish new liquefied natural gas (LNG) terminals or expand existing ones will need the approval of the downstream regulator, as per a draft regulation by the Petroleum and Natural Gas Regulatory Board (PNGRB). This regulation aims to manage the rapid expansion of terminals that remain significantly underutilized.
Trent plans global retail push after acing it in India
Noel Tata-led Trent is venturing into international markets with a flagship store in Dubai, targeting the Indian diaspora. Zudio, a key brand, has surpassed ₹7,000 crore in revenue in India. The company experienced another year of substantial growth in FY24, with net sales increasing by 50% to ₹12,375 crore and net profit nearly quadrupling to ₹1,477 crore.
PFRDA reviews strategies for expansion and distribution of NPS
Almost 63% of the enrolments in the voluntary segment (UoS-All Citizen) were sourced through the extensive efforts of PoPs, which include banks, NBFCs, stockbroking firms, fintech companies and pension funds, it said. "During the year, 3,112 corporates got registered under the NPS corporate model, which has been the highest number so far," the statement said.
Cement industry in India consolidating, market shares of top companies growing: ICRA
Large cement companies are expanding capacity through organic growth and acquisitions, driven by strong demand. Market share of the top five firms rose to 54% in 2023 and is expected to reach 55% by 2025. Consolidation, especially in eastern and western regions, enhances cost efficiency. ICRA's outlook for the sector remains stable.
Kewal Kiran Clothing acquires 50% stake in Kraus Jeans for Rs 166.51 crore
Kewal Kiran Clothing Limited, a leading menswear brand owner, has made a strategic move by acquiring a 50% stake in Kraus Casuals Private Limited for a whopping Rs 166.51 crore. This acquisition marks the company's foray into the women's denim and casual wear segment, expanding its already impressive portfolio which includes popular brands like Killer, Integriti, Lawman Pg3, and easies.
Retail cos, QSRs expand at slowest pace in 5 years
Retailers and quick-service restaurant chains in India experienced the slowest pace of store expansion in five years at 9%, with 33,219 stores as of March 31. In FY23, the number was 30,551, up 18% from the previous year. These companies added 2,700 stores, averaging 7 a day, but that's nearly half compared to 13 doors each day in FY23. Retail sales growth rate fell year-on-year every month in the previous fiscal, reflecting weak consumer sentiment across segments like apparel, footwear, and QSR.
Shriram Life Insurance eyes expansion of business across geographies
Shriram Life Insurance plans to expand into tier 2 and 3 towns across 15 states, focusing on underserved customer segments needing life insurance, said MD and CEO Casparus J H Kromhout. The company aims to deepen its presence in key states like Andhra Pradesh, Telangana, Tamil Nadu, Uttar Pradesh, Odisha, and Bihar.
KIMS: Healthy prospects ahead; why analysts are bullish on this stock
KIMS operates a network of 12 hospitals across Telangana, Andhra Pradesh and Maharashtra with a total bed capacity of 3,975 beds. A JM Financial report is bullish on the stock due to expansion-led growth, stable margins, and valuation comfort. It trades at a 12-month forward EV/EBITDA of 21.4 times, a 12.4% discount to the industry median, according to Reuters-Refinitiv data.
Instabase appoints Deepak Sharma to advisory board to drive expansion in India
Instabase announced appointment of Deepak Sharma to its advisory board to drive expansion plans in India. Sharma, a Mumbai-based digital leader and former President at Kotak Mahindra Bank, brings over two decades of expertise in scaling digital businesses. Anant Bhardwaj, CEO of Instabase, lauded Sharma's insights, highlighting his pivotal role in navigating India's digital landscape.
Dubai-based Pluugin e-commerce plans expansion in India, create 2,000 jobs in 3 years
Dubai-based Pluugin E-commerce plans to expand in India, aiming to create over 2,100 jobs in three years and achieve full pan-India coverage within 12 months. India will also serve as the backend office for operations in Bangladesh, Nepal, and Sri Lanka. The company focuses on MSMEs, promoting a global presence for 'Make in India' brands.
AP fire-hit Foxlink back on track with a new Tamil Nadu plant
Apple supplier, Foxlink of Taiwan, is setting up a new factory in Oragadam, close to Chennai. This move comes as part of a fresh expansion plan following a destructive fire at their facility in Tirupati, Andhra Pradesh, last year.
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