17th August 2021, Mumbai:

For the first quarter ended June 2021, Grasim Industries Ltd., a subsidiary of the Aditya Birla Group, recorded a nearly fourfold increase in its consolidated net profit of Rs. 2,447.97 crore. The business reported a net profit of Rs. 616.99 crore in the April-June quarter of the previous fiscal in a regulatory filing.

During the quarter under review, revenue from operations increased by 52.72 percent to Rs. 19,919.40 crore, compared to Rs. 13,043.51 crore in the previous fiscal.

In Q1/FY2021-22, income from viscose-pulp, viscose staple fiber (VSF), and filament yarn increased by more than thrice to Rs. 2,102.76 crore, compared to Rs. 557.68 crore the previous quarter. However, the category had a 17.9% decline sequentially, with revenues of Rs. 2,583.40 crore in the January-March quarter. “India experienced selective limitations on commercial activity throughout the majority of Q1 FY22, affecting the sale of textile products and resulting in inventory building in the value chain. As a result, the VSF selling volume declined sequentially in Q1 FY22,” it stated.

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Grasim Industries stated that the commissioning of the VSF extension of two lines at Vilayat, Gujarat is on schedule. Line 1 is planned to be operational in the second quarter and Line 2 in the third quarter of this fiscal year.

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TOP 5:

• Malls in India record 80% sales rebound in June-July
• New government initiatives to benefit the industry: Sanjay Jain,TT Ltd
• Clovia looks at tech adaptation to meet customer needs
• 'CHIC Shanghai' fashion and lifestyle trade show to happen on October 9-11
• Dollar Industries looks to strengthen global presence with new collections

4th Aug 2021, Mumbai:

Ralph Lauren Corp boosted its yearly revenue forecast and reported an increase in quarterly sales on Tuesday, as the high-end garment maker draws customers with its marketing efforts and reaps the advantages of the post-lockdown luxury boom.

The New York-based retailer's stock surged more than 7% after exceeding revenue estimates in the first quarter, following competitors Michael Kors' Capri Holdings Ltd, LVMH, and Kering in reporting good earnings. As social events begin after a months-long hiatus, consumers have begun to spend more on handbags, shoes, and clothing this year, triggering a comeback in the luxury goods market.

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Ralph Lauren has expanded the promotion of its brand by sponsoring the United States Olympic team and events like Wimbledon and Major League Baseball to capitalize on the rising demand. Its marketing investment in the first quarter was more than twice that of the year before the pandemic, and nearly 40% more than in 2019. The business now forecasts a 25 percent to 30 percent growth in fiscal 2022 revenue on a 53-week reported basis, up from a 20 percent to 25 percent increase on a 52-week comparable basis.

"Against the backdrop of higher than projected re-openings across North America and Europe," said Chief Executive Officer Patrice Louvet, the company's brand and goods were connecting strongly with customers. Ralph Lauren's net sales nearly tripled to $1.38 billion in the quarter ended June 26 thanks to robust demand for their Polo shirts. According to Refinitiv IBES data, analysts projected revenue of $1.22 billion. On an adjusted basis, the firm earned $2.29 per share, compared to a loss of $1.82 per share a year ago.

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4. Anti Dumping Duty on viscose staple fibre (VSF) is a big plus: AEPC

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17th August 2021, Mumbai:

As per the quick dip stick study this I-Day retailers and malls alike experienced a secular increased spending in categories like 'Apparels and Lifestyle Products'

Broadly largest retailer, Reliance Retail registered 20-30% incremental sales than Pre-Covid levels on the back of the fact that recovery keeps happening with consistent unlocking taking place across nation. Same trend was witnessed and echoed by leading retailers, brands including modern retail to establish that economy is on the mend.

WATCH: https://www.youtube.com/watch?v=HNqRPiXRFM8

What is 'Mega trending' is I-Day sales has for sure become an established marketing event/ shopping period evincing enormous response year after year and this HISTORICAL I-Day when India turned 75 was definitely no different notwithstanding we are still amid pandemic.

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TOP 5:

• Malls in India record 80% sales rebound in June-July
• New government initiatives to benefit the industry: Sanjay Jain,TT Ltd
• Clovia looks at tech adaptation to meet customer needs
• 'CHIC Shanghai' fashion and lifestyle trade show to happen on October 9-11
• Dollar Industries looks to strengthen global presence with new collections

12th August 2021, Mumbai:

Fossil Group, a watch and lifestyle accessory company, announced a 59 percent increase in revenues to $410.9 million in the second quarter of FY21, which concluded on July 3, compared to $259 million a year ago. Sales are expected to increase by 14 to 17 percent in FY21, according to the firm.

In a news statement, Kosta Kartsotis, chairman and CEO of Fossil Group, said, "Our outstanding second quarter performance reflects solid operational execution across all channels and geographies in a competitive consumer environment." 

“Improving customer demand in our main markets and in our core category of conventional watches gives us hope.” In the second quarter, digital sales increased by 10%, accounting for 41% of total sales. Operating expenses were $207.5 million ($177.4 million), but gross profit increased to $221.8 million (up from $140.6 million). During the quarter, the net loss was reduced to $1.2 million ($22.5 million). 

Sales in the Americas increased by 67% to $176.7 million ($105.8 million), while sales in Europe increased by 56% to $124.4 million ($79.5 million).  Furthermore, sales from Asia increased by 50% to $103.5 million ($69.2 million) in the second quarter. “Looking ahead, we are happy that our digital initiatives, brand-building efforts, and ongoing transformation activities are setting the business up to produce long-term sales and profitability growth,” Kartsotis said in the release.

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• Mega textile park scheme waiting in the wings: Proposal with Cabinet

• FDI in textile sector: An overview

29th July 2021,Mumbai:

Trident Ltd, leading home textile and one of the largest integrated home textile manufacturers in the world starts commercial production at its expanded yarn segment.

This capacity addition has come up with an investment outlay of Rs 338 crore which is slated to consolidate the position of the Ludhiana-based,Punjab company in textile sector.

Consolidated capacity

Incremental capacity to the tune of 61,440 spindles and 480 rotors including other balancing equipment to its existing capacity of 5,27,808 spindles, 6,984 rotors and 160 air jet looms. 

 Watch: https://www.youtube.com/watch?v=efbR-uquUxk

How did it go about accomplishing this tall order

The company raised Rs 253 crore through external borrowings and remainder ₹85 crore comes out of internal accruals.

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16th August 2021, Mumbai:

PC Jeweller announced a reduction of its net loss to Rs 65.58 crore for the first quarter ended June 30, 2021, on Saturday. According to a BSE filing, the business recorded a net loss of Rs 73.55 crore in the previous fiscal year's same quarter. In April-June 2021-22, net income increased to Rs 261.74 crore, up from Rs 87.02 crore the previous year.

Expenses remained higher at Rs 328.41 crore, compared to Rs 163.48 crore in the previous quarter. Due to the interruptions created by the COVID-19 epidemic, PC Jeweller's performance during the quarter was negatively impacted, according to the firm.

The firm claimed its stores have resumed normal operations as the second wave of the pandemic fades, but shoppers' attitude remains gloomy as the threat of a third wave looms. "The firm, on the other hand, continues to be optimistic about a steady improvement in the business, particularly in the third quarter," it said, adding that it is working to improve the margins on its jewelry and increase the sale of diamond jewelry. According to the firm, it has also managed to keep its expenditures under strict control.

TOP 5:

• Malls in India record 80% sales rebound in June-July
• New government initiatives to benefit the industry: Sanjay Jain,TT Ltd
• Clovia looks at tech adaptation to meet customer needs
• 'CHIC Shanghai' fashion and lifestyle trade show to happen on October 9-11
• Dollar Industries looks to strengthen global presence with new collections

12th August 2021, Mumbai:

In the Indian market today, gold and silver continued to struggle. So far in August, spot gold prices have plummeted about Rs 2,100. Similarly, silver prices have dropped around Rs 5,200 in the current month. NEW DELHI: Gold prices were barely changed on Thursday after a sharp drop.

After an overnight advance, the yellow metal remained stable, trading slightly lower. On the MCX, gold futures were down 0.14 percent, or Rs 67, to Rs 46,321 a gramme. Silver futures fell 0.34 percent to Rs 62,555 per kilogramme, a loss of Rs 216. Consumer price hikes in the United States eased in July, easing fears of an early reduction of economic stimulus. 

The dollar index remained unchanged after falling from a four-month high. On Thursday, gold prices remained stable. According to Tapan Patel, Senior Analyst (Commodities), HDFC Securities, the yellow metal has recovered from its recent "flash crash" due to a weaker dollar and lower US government yields. "Following the release of US CPI data, the dollar index fell for the first time in five days. After a one-week rise that boosted gold buying, US 10-year treasury yields have fallen "Added he. India's demand for physical gold has remained muted. The precious metal's tiny premium has recently been fully eradicated.

According to the Indian Bullion and Jewellers Association, highest purity gold was sold for Rs 46,328 per 10 gramme on Wednesday, while silver was priced at Rs 62,850 per kg. In the Indian market today, gold and silver continued to struggle. So far in August, spot gold prices have plummeted about Rs 2,100. Similarly, silver prices have dropped around Rs 5,200 in the current month. China's tougher social restrictions to combat the newest COVID-19 outbreak, which has spread to more than a dozen locations and is now in its fourth week, are wreaking havoc on the services sector, particularly travel and hotels.

Investing strategy - "With COMEX spot gold support at $1,735 and resistance at $1,770 per ounce, we expect gold prices to trend flat to up for the day. The MCX Gold October support and resistance levels are Rs 46,000 and Rs 46,700 per 10 gramme, respectively "HDFC Securities' Patel added.

Markets throughout the world - By 0104 GMT, spot gold remained unchanged at $1,750.34 per ounce, after posting its highest one-day percentage rise since May 6 on Wednesday. Gold futures in the United States were unchanged at $1,753.40. The price of silver dropped 0.2 percent to $23.47 per ounce. Palladium increased 0.1 percent to $2,638.14 and platinum was unchanged at $1,017.91.

TOP 5:

• Permitting malls to reopen can save lakhs of jobs: Kumar Rajagopalan, CEO, RAI

• Supreme Court stalls Reliance-Future deal

• H&M to join Influencer-based social commerce platform 'Trell'

• Mega textile park scheme waiting in the wings: Proposal with Cabinet

• FDI in textile sector: An overview

Politics is a set of activities associated with the governance of a country or an area. It involves making decisions that apply to group of members. I would have realized that technology is an accessible field at a younger age. I really got interested in technology when I took a role on President Obama’s Technology, Innovation, and Government Reform transition team in 2008 to make recommendations.

Politics is a set of activities associated with the governance of a country or an area. It involves making decisions that apply to group of members. I would have realized that technology is an accessible field at a younger age. I really got interested in technology when I took a role on President Obama’s Technology, Innovation, and Government Reform transition team in 2008 to make recommendations.