States such as Uttarakhand, Himachal Pradesh and Haryana reported over 40 per cent growth in IMFL sales during the fourth quarter of 2020-21, while Maharashtra and Goa reported 23 and 22 per cent growth, respectively, as against the year-ago quarter, according to data released by the Confederation of Indian Alcoholic Beverage Companies (CIABC).
Booze is the secret of Mumbai’s energy
ByVinay DalviVinay Dalvi / Updated: May 2, 2021, 06:00 IST
In
The lockdown turned out to be a blessing in disguise for the
state excise department which nearly doubled its 2020-2021 income from sale of liquor in Mumbai t
We have a target of Rs 19,500 crore for the year 2021-2022, and we are hopeful we will achieve it
–An excise official
o Rs 512 crore from Rs 264.85 crore in the previous financial year. The department earned Rs 135 crore against the revenue of Rs 64.85 crore in the previous financial year in Mumbai city and Rs 377 crore from the suburbs against Rs 299 crore.
Picture for representational purpose only.
AHMEDABAD: Even after 60 years of being a dry state, Gujarat still has alcohol flowing free if one goes by the figure of liquor seizures made in the state. According to the figures, Rs 215 crore worth of alcohol was seized from the state between April 1, 2019 and December 31, 2020.
Analysis of the figures suggest that on an average, liquor worth nearly Rs 34 lakh was seized in the state every day in 2019-2020.
The seizures include 15.58 crore IMFL bottles, 34.72 litres of countrymade liquor and 41.23 lakh beer bottles.
The figures are startling as seizures took place even in the midst of Covid-19 pandemic when there was police deployment everywhere for around two-and-a-half months in order to implement the total lockdown. And, again during night curfews post-Diwali.
Invesco Ltd. (NYSE: IVZ), a leading global asset management firm, announced the launch of the
Invesco International Developed Dynamic Multifactor ETF (IMFL). The addition of IMFL broadens the firm’s dynamic multifactor suite, which currently includes ETFs that access large-cap and small-cap US equities to include international equities. Invesco’s dynamic multifactor ETFs adapt and evolve factor holdings as the market environment changes.
“Invesco has a strong track record of offering dynamic multi-factor ETFs that adapt and evolve factor holdings as the market environment changes,” said Anna Paglia, Global Head of ETFs and Indexed Strategies at Invesco. “Clients will now have access to international equities across geographies through an easily accessible single suite of ETFs.”
Adar Poonawalla-backed firm to acquire majority stake in Magma Fincorp for Rs 3,456 crore
The new firm will be called Poonawalla Finance.
SII CEO Adar Poonawalla (File Image: Twitter)
Rising Sun Holdings, a company controlled in personal capacity by Serum Institute of India CEO Adar Poonawalla, announced a transaction on February 10 to acquire a controlling stake in Magma Fincorp (MFL), a non-banking financial company (NBFC).
The deal will be carried out via a preferential issue of Magma Fincorp s equity shares worth Rs 3,456 crore. The deal also includes an open offer as per SEBI norms.
According to an official statement, the deal “ is subject to shareholders’ and other regulatory approvals and represents 64.68 percent of MFL’s enhanced equity share capital post the issue. Based on current shareholding, Rising Sun Holding would hold 60 percent stake in the entity post issuance and the existing promoter group stake would get reduced to 13.3 percent post issuance. The net w