Page 2 - Abfrl News Today

ABFRL shares: Madura’s business may see multiple re-rating, said Kotak Institution Equities. But the brokerage said it would wait for strategic direction from the management.

The restructuring will help bring in sharper focus anchored on a differentiated strategy aligned with the individual business segment, said MD of ABFRL.

Aditya Birla Fashion and Retail Ltd. (ABFRL) announced on Monday its intention to assess the vertical demerger of its Madura Fashion & Lifestyle business from ABFRL into a separate listed company. The decision was made during the Board of Directors meeting, granting authorization to evaluate this strategic move.

Jacob John, president of premium brands at ABFRL, "This expansion aligns with our ambitious growth strategy as we continue to expand our retail footprint across the globe, following recent openings in Mauritius and the UAE."

Bharat Tex 2024: Speaking to ETRetail on the sidelines of the discussion, Rahul Mehta, Chief Mentor, CMAI said, “We want retail to be recognised as an industry. It is today a state subject, thus companies have to follow different regulations, leading to complexity.”

Aditya Birla Fashion And Retail: Looking ahead, the industry veteran expressed confidence in Indias trajectory, envisioning a future where the nation sets the cutting edge in global retail innovation.

ABFRLs consolidated revenue from operations stood at Rs 4,167 crore in Q3 FY24 as against Rs 3,589 crore in Q3 FY23, as per the BSE filing. However, it reported a consolidated net loss of Rs 107.60 crore in Q3 FY24. The company had reported a consolidated net profit of Rs 11.21 crore in the previous years same period.

Q3 Results Today: Mahindra & Mahindra, NMDC, Muthoot Finance, The Fertilisers and Chemicals Travancore, Gland Pharma, Sun TV Network, Aditya Birla Fashion, and Retail, Glenmark Pharmaceuticals are among the top companies scheduled to release their quarter 3 2024 results on February 14

ABFRL Jaypore: This move will enable Jaypore to expand its direct-to-consumer presence on a global level. Ashish Dikshit, managing director at ABFRL said, “While Indian markets offer huge opportunity for consumer brands, it’s also an era for Indian brands to delight customers overseas. These are not just customers of Indian diaspora but also natives of those markets."

The market will get a direction once we get a range breakout. However, three stocks have formed a good setup on the technical charts and can give returns in the short term.