Shares of Voltas hit a 52-week low of Rs 883.20 on the BSE as they slipped 8 per cent in Friday’s intra-day trade amid concerns that te July-September quarter (Q2FY23) may see subdued sales numbers due to low seasonal demand. With today’s intra-day decline, the stock has corrected 35 per cent from its 52-week high … Read more
South Korean consumer electronics major LG is targeting for a 32 per cent share of the Indian TV market in 2022, with a gain of around 5 per cent to become the number one player in the segment, a top company official said. The company is banking on its country-specific product line-up with local insights, … Read more
Aditya Birla Fashion & Retail (ABFRL) has announced raising sizeable equity investment from GIC’s affiliate, Caladium Investment Pte. Ltd. Key points to note – GIC is Singapore’s sovereign wealth fund. GIC has committed to infuse a total of Rs 2,195 crore Rs 295 crore upfront equity @ Rs 288.75/ share picking up about 1.07% of … Read more
After Zivame and Amante, Reliance Retail Ventures Limited (RRVL) has now announced acquiring Clovia, another direct to consumer (D2C) women lingerie brand. Key points to note – Founded in 2012, Clovia has previously raised a total of $22 mn from various investors. Last round was in December 2020, when it had raised Rs 14.3 crore … Read more
In June 2018, Whirlpool had acquired 49% strategic interest in Elica PB India (Elica) to expand the cooking business. Whirlpool has now acquired additional 38% stake in Elica for an estimated $57 mn – bringing the total stake to 87% and consequently Elica becoming a subsidiary of Whirlpool. Elica PB India, is the Indian arm … Read more