RETAIL UNIT
Footfalls at auto dealers fall in June, so do RTO registrations
Vehicle registrations rose 0.73% to 1,895,552 units, with two-wheelers up 4.7%, three-wheelers 5.1%, passenger vehicles down 6.8%, and commercial vehicles falling 4.7%. Heatwaves, deferred purchases, and kharif crop delays impacted sales. Rural market share for two-wheelers fell to 58.6%. Dealers expect increased sales with improved supply and product launches despite high inventory and election slowdowns.
Auto sales muted as extreme heatwave cools demand in July
Vehicle registrations in June were nearly flat, up just 0.73% from the previous year, with 1,895,552 units registered. Extreme heatwaves and delayed monsoons dampened retail sales, notably impacting two-wheelers and passenger vehicles. Despite optimistic forecasts for the monsoon season, the auto industry faces challenges, including high inventory levels and subdued market sentiment.
Saks owner to buy luxury retailer Neiman Marcus in $2.65-billion deal
HBC, the parent company of Saks Fifth Avenue, announced on Thursday that it will acquire the department-store chain Neiman Marcus in a $2.65-billion deal. This acquisition is expected to give the companies stronger negotiating power with vendors and better control over costs
Reliance Industries Invests Rs 4,330 cr in Retail Unit in FY24
Reliance Industries invested Rs 4,330 crore into its flagship retail company, Reliance Retail, in the past fiscal year, a shift from previous reliance on debt funding. The investment, made through its subsidiary RRVL, included both equity and debt. Reliance Retail transferred its supply chain assets to RLWH at a valuation of Rs 8,000 crore. This move aims to unlock value from assets and improve cash flow, following recent investments by ADIA and KKR in RLWH.
Bansal Wire IPO sails through on Day 1 on robust NII, retail demand. Check GMP and other details
Bansal Wire's IPO saw strong demand from retail and non-institutional investors on the first day, while the QIB portion remained unsubscribed. Proceeds will be used for debt repayment, working capital, and general corporate purposes.
EU takes aim at China's Temu and Shein with proposed import duty
The EU considers imposing customs duties on Chinese online retailers like Shein and Temu. The plan involves scrapping the 150 euros duty-free threshold for non-EU online purchases. The high volume of e-commerce parcels prompts the EU to speed up customs reform, impacting companies like AliExpress' parent Alibaba. Shein and Temu are criticized for exploiting US import tax exemptions to sell cheap products.
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Audi India sales dip 6 pc in June quarter
Audi India on Monday reported a 6 per cent dip in retail sales at 1,431 units during the April-June quarter this year. The German luxury carmaker had sold 1,524 units in the year-ago period. "While the supply situation in Q2 2024 has improved compared to Q1 2024; it still played a limiting factor on our sales performance," Audi India Head Balbir Singh Dhillon said in a statement.
India, four SE Asia countries plan instant retail cross-border payments
Five central banks from India, Malaysia, Thailand, Singapore, and the Philippines collaborate on Project Nexus, a cross-border retail payments platform set to launch by 2026, facilitated by the Bank for International Settlements (BIS). Nexus will integrate digital payment systems like India’s UPI and Singapore’s PayNow, potentially linking 1.7 billion people globally.
JSW MG Motor India retail sales dip 9 pc in June to 4,644 units
JSW MG Motor India reported a 9% year-on-year decline in retail sales for June, with 4,644 units sold compared to 5,125 units in June 2023. Despite this, the company's flagship SUV, the ZS EV, achieved its highest-ever monthly sales in June 2024.
Transforming multi unit retail operations with No Code
The retail industry in India is subject to the vagaries of the economy and operates in a competitive market. It needs a relentless focus on operational efficiency to gain any edge.
Bansal Wire announces price band for its Rs 745 crore IPO. Check details
Bansal Wire's IPO, priced at Rs 243-256 per share, opens on July 3. In Sep 2023, the company reported revenue of Rs 1154 crore and a profit of Rs 38.9 crore. With strong lead managers onboard, the IPO presents an attractive investment prospect for interested investors.
Retail investors are leveraging mutual fund units as collateral without liquidating
Mutual fund investor accounts have surged, with individual investor AUM now reaching ₹34.5 lakh crore. Notably, individual investors account for 88% of investments in equity-oriented schemes, yet only 59% of their equity holdings are held for over two years.
Quant Mutual Fund added 27 stocks to its portfolio in May. Do you own any?
Quant Mutual Fund is under Sebi inquiry for suspected front-running, leading to search and seizure operations in Mumbai and Hyderabad.
Reliance shareholders approve retail unit's $4 billion lease to Jio Financial
JFS plans to acquire equipment worth 360 billion rupees from Reliance Retail, as the financial services provider plans to enter the device leasing business. Through the deal, JFS' unit - Jio Leasing Services - will buy customer premises equipment, devices and telecom equipment such as routers and cell phones.
Asian stocks rise on tech rally, Fed rate cut wagers
Asian shares rose to a three-week high driven by tech stock rally as the dollar struggled post soft U.S. retail sales data, hinting at potential Fed rate cuts.
Sebi plans tweaks to address derivative trading risks: Report
India's markets regulator, SEBI, is considering tweaks to derivative trading rules to address risks from the explosive growth in options trading. The rules aim to regulate retail trading and involve discussions with fund houses.
Peak XV, Steadview, and Think Investments line up to fund jewellery retailer Bluestone in pre-IPO round
Jewellery retailer Bluestone is in talks with Peak XV Partners, Steadview Capital, and Think Investments for a $100 million pre-IPO round. The investment is expected to value Bluestone at around $900 million pre-money.
Father’s Day 2024: Popular gifts, average spending and origins
Data from the National Retail Federation reveals that Americans are expected to spend approximately $22.4 billion on this Father’s Day. This is the second highest spending recorded on Father’s Day. Though, Americans have spent more purchasing gifts on Mother's Day in 2024 than the expected spending on Father's Day. This is higher than the spending recorded in the pre-pandemic years.
Hyundai unit files for India IPO that could be country's biggest
India's second-biggest car maker behind Maruti Suzuki, Hyundai will not issue new shares in the IPO which will involve its South Korean parent selling part of its stake in the wholly owned unit to retail and other investors via a so-called "offer for sale" route.
Indians get hooked on 10-minute grocery apps, squeezing small retailers
India's quick commerce boom is reshaping how Indians shop, with Swiggy leading the charge in the fast-paced delivery game. The SoftBank-backed company's grocery warehouse in a middle-class suburb of Mumbai operates precisely, aiming to deliver orders within 10 minutes. Swiggy's bikers, clad in bright orange T-shirts, race against time to collect and deliver packed grocery orders, with the warehouse manager emphasising the need for speed in the entire process.
Walmart opposes adding panic buttons to stores
Walmart opposes legislation requiring panic buttons in stores, citing potential for false alarms, despite New York State Senate passing a bill that would mandate big retail chains to implement them. Walmart's executive VP of corporate affairs expressed concerns over the practicality of installing panic buttons in all of its 4,700 stores nationwide. The legislation, if signed by Governor Hochul, would also require violence prevention training for retail employees.
Reliance Retail starts ONDC pilot via retail platform Fynd
Reliance Retail, a subsidiary of Reliance Industries, has begun testing the government's Open Network for Digital Commerce (ONDC) through Fynd, an omnichannel retail platform in which Reliance holds an investment.
Reliance Retail plans 30-minute delivery model for quick commerce re-entry
Reliance Retail is re-entering the quick commerce market with a 30-minute delivery model, focusing on a wider assortment of products than existing players like Blinkit and Zepto. They will leverage their network of stores and kiranas, connected through the JioMart Partner initiative, for product sourcing. Unlike competitors, Reliance will not set up dark stores for under-ten-minute delivery but will optimize delivery routes using tech platforms like FYND and Locus. The venture will start with groceries and expand to apparel and electronics, utilizing the 19,000-plus store network.
US retail sales misses expectations in April
Retail sales in the United States were flat in April, signaling a slowdown in consumer spending. Overall sales held steady at $705.2 billion, with a 3.0% increase from a year ago.
Nayara Energy to set up two ethanol plants for ₹600 crore
Each plant will have a production capacity of 200 kilo litres of ethanol per day. These will be set up in Andhra Pradesh's Naidupeta and Madhya Pradesh's Balaghat, and are slated for commissioning by 2026. The company will use broken rice and maize for feedstock. In the long run, the company plans to have five ethanol manufacturing plants.
MG Motor India reports 1.45 pc dip in retail sales at 4,485 units in April
MG Motors India on Wednesday said its retail sales declined 1.45 per cent year on year to 4,485 units in April. The company had reported sales of 4,551 units in April 2023.
Q4 results preview: 29 companies likely to report doubling of profit
29 companies expected to double profits in Q4FY24 across various sectors like BFSI, Auto, Healthcare. Notable companies include Adani Ports, KEC International, Birla Corporation, JK Cements, United Breweries, Gland Pharma, Quess Corp Ltd, Signature Global, NMDC.
What a waste food waste is, stop it
Food waste is a growing issue globally, with an estimated 1.05 billion tonnes wasted in 2022, compared to 931 million tonnes in 2019. Despite this, 783 million people are going hungry worldwide. India is not immune, with the average household wasting 55 kg of food per year. Reducing food waste will require improvements in storage and distribution, as well as efforts to change cultural attitudes toward food waste.
Vehicle registrations increase by 13% to two million units in February, according to FADA
FADA President Manish Raj Singhania said vehicle retails increased across categories. While sales of two-wheelers went up by 13.25% to 1,439,523 units in the month under consideration, those of three-wheelers rose 23.88% to 94,918 units. “The 2W market's 13% YoY growth was driven by the rural sector, premium model demand, and strong entry-level segment performance, with broader product availability and compelling offers enhancing product acceptance. Factors like favourable marriage dates and improved economic conditions also contributed to this positive growth”, Singhania informed.
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