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Aditya Birla Fashion gains on business expansion plans


Further, the company said that Allen Solly Prime targets to open 500 stores in three years.
The company plans to add 250 Pantaloons stores in the next three years across 100 new towns. It is on course to increase share of private labels from 61% in FY20 to 75% in FY25. E-commerce channel scaled up 3x during FY21 and is likely to to contribute 8-10% of sales by FY25.
ABFRL is part of a leading Indian conglomerate, The Aditya Birla Group. It is India s first billion-dollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats.
On a consolidated basis, the company s net profit stood at Rs 58.44 crore in Q3 FY21 as against net loss of Rs 37.64 crore in Q3 FY20. Revenue from operations tumbled 19.61% to Rs 2,076.19 crore in Q3 FY21 from Rs 2,582.74 crore in Q3 FY20. ....

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Market rises for 2nd day; broader market outperforms


Key equity indices advanced for the second session and closed near the day s high with strong gains on Tuesday. The Nifty managed to close above the crucial 14,900 mark. Barring the Nifty PSU Bank index, all other sectoral indices on the NSE ended in the green.
Positive development surrounding global COVID-19 vaccination programmes and stabilizing US Treasury yields boosted sentiment. Buying was also triggered as India s GST collection for the month of February stood above the Rs 1 lakh crore mark for the fifth straight month, cementing the signs of economic recovery.
As per the provisional, the barometer index, the S&P BSE Sensex, rose 447.05 points or 0.9% at 50,296.19. The Nifty 50 index surged 157.55 points or 1.07% at 14,919.10. ....

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