November sales for winter clothing strong: Monte Carlo

November has been good month so far for Monte Carlo Fashions, the company’s ED Sandeep Jain said in an interview to CNBC-TV18.

“We grew 20 percent in November over last year for winter sales,” he added. Winter sales are important because they account for nearly 60-65 percent of the revenues.

On margins, Jain said, “Margins on winter and summer clothes are almost equal, but winter revenue is 65 percent and that contributes significant revenue to the total turnover.”

According to him, working capital cycle peaks in September and comes down in January-February.

For entire interview, watch video

Normalcy returning; watches & eyewear business catching up: Titan

S Subramaniam, CFO of Titan said sales were returning to normalcy and that the company logged 15 percent growth in sales this festive season versus last festive season.

“We will grow in the jewellery business in Q3. Watches and eyewear business catching up, gold coin sales are returning to normalcy,” he said in an interview to CNBC-TV18.

According to him, sales in tier-III and IV cities too were strong. “We saw an uptick in demand during festive season in tier-I and II cities too,” added Subramaniam.

For entire interview, watch video

FMCG is a future business for us: Raymond’s Gautam Singhania

Vardhman Textiles | Brokerage: ICICIdirect | Rating: Buy | LTP: Rs 899 | Target: Rs 1,100 | Return: 22 percent

After seeing a gradual improvement over the last few weeks, textile major Raymond is cautiously optimistic about the demand environment. Speaking exclusively to CNBC-TV18’s Priya Sheth, Raymond CMD, Gautam Singhania said that the company is further looking at reducing costs and dismissed reports that it was planning to sell its FMCG business.

Singhania said FMCG is the future business of the company.

“It’s a very strong business for us. It’s called as Raymond Consumer Care. I think that is a future business for us,” he added.

On core operations, he said, “We looked at the pandemic as an opportunity to reset ourselves and costs and I am confident that we have brought down costs substantially.”

He said the demerger of lifestyle business has been pushed by a few months because of COVID-related disruption.

“Auto and engineering business is running at higher than pre-COVID levels and indications are that lifestyle business is at 70-80 percent pre-COVID levels,” Singhania further added.

For more, watch the video

Expansion plans to continue; will pay most of debt obligations in Q3: Phoenix Mills

Shishir Shrivastava, MD of Phoenix Mills said that the company will continue with its expansion plans.

Speaking in an interview to CNBC-TV18, he said, “We will be able to pay most of our debt obligations in Q3.”

On consumption, Shrivastava said, “Footfalls have reached 55 percent versus last year’s levels and consumption is around 104 percent compared to last year.”

According to him, footfalls are improving by 25-30 percent every month.

Phoenix Mills expects to close FY21 with revenues around 50 percent of last year’s levels.

For entire interview, watch video

 5 Minutes Read

Slippers selling; shoe sales under pressure: Relaxo Footwear

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Relaxo Footwear reported an improvement in operational performance during the second quarter, with lower raw material costs and other cost reduction measures helping as well. Ramesh Kumar Dua, Managing Director of the company discussed the numbers in detail.

Relaxo Footwear reported an improvement in operational performance during the second quarter, with lower raw material costs and other cost reduction measures helping as well. Ramesh Kumar Dua, Managing Director of the company discussed the numbers in detail.

“In Q1 and in the past, raw material prices have been quite benign, in Q3 also they will be under control. Q4 – prices of raw material will be under pressure,” he said in an interview with CNBC-TV18.

October sales for the company have grown 20 percent, mainly due to festive season purchases. “Let us see, how things play out post-festive,” he said.

Things are much better than what they were in last quarter, Dua said.

Sale of shoes remains under pressure because people are not moving, so outdoor activity is restricted, he added.

Sale of slippers were phenomenal, he said. “We were not able to fulfill the demand,” he said.

For more, watch video…

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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 5 Minutes Read

COVID-19: Study links those who do not wear masks to antisocial traits

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Although containment measures such as wearing masks are the most effective way to flatten the curve, the study showed that antisocial and empathy traits play an essential role in making people compliant.

A new study conducted by scientists in Brazil has concluded that people’s resistance for not wearing masks to protect themselves from contracting coronavirus stems from their antisocial personality traits.

The study found that adherence to measures such as wearing masks is more challenging for people who show anti-social behaviour compared to those who have empathy.

The study was conducted to investigate the relationship between antisocial traits and compliance with COVID-19 containment measures.

Scientists surveyed more than 1,500 people in Latin America between 18 and 73 years of age. The survey asked personality-related questions about how well certain statements represented their behaviour on a scale; which is called “affective resonance”.

The survey included questions on containment measures like wearing mask while outdoors.

Profile analysis revealed the existence of two prominent groups: antisocial pattern group and empathy pattern group.

The antisocial pattern group consisted of people who showed antisocial traits such as disregard for right and wrong, persistent lying, being insensitive and disrespectful of others, using charm or wit to manipulate people for personal gain or pleasure, a sense of superiority bordering on arrogance, recurring problems with laws, impulsiveness or failure to plan, hostility, aggression or violence. These traits are typically present in people diagnosed with Antisocial Personality Disorder (ASPD).

The group showed lower scores in affective resonance.

Empaths, on the other hand, are highly sensitive, absorb other people’s emotions, introverted, need alone time, are highly intuitive, and can become easily overwhelmed. The group showed high scores in affective resonance, lower scores for traits associated with ASPD.

Antisocials were found to be resistant to safety measures, while empaths were compliant.

According to a study from Oxford’s Leverhulme Centre for Demographic Science, investigating the effectiveness of different face masks and coverings found that even homemade masks made of the correct material effectively reduce the spread of COVID-19 for the wearer and those around them.

Another study by The New England Journal of Medicine found using high-speed video to track droplets found even holding a washcloth over the mouth was effective in blocking droplets.

Another report published in The Lancet found that by wearing a face mask, the chances of contracting the virus are just 3 percent.

study by Cambridge University found that even basic homemade masks can reduce transmission and prevent a second wave.

Research broadly suggests that face masks won’t necessarily stop you from catching the virus, but it will lessen the chances of you passing it on if you are an asymptomatic carrier.

Despite the studies, people not wearing masks insists that masks are ineffective. There is an alarming number of people who refuse to wear masks, even when presented with facts. And studies show that a majority of these people are men.

In May, Middlesex University, London, and the University of Berkeley, California, surveyed 2,459 people in the US and found that men were less likely to wear masks than women, insinuating that masks are “shameful, not cool, and a sign of weakness”.

Another study conducted by the US-based Kaiser Family Foundation, found that 68 percent of women frequently wore masks outside homes compared to 49 percent of men.

Emma Lygnerud Boberg, gender and programme development advisor at the International Media Support, Denmark, said this trend had been observed in previous epidemics.

Even after contracting COVID-19, the US President was not too keen on wearing masks. When he removed mask on the steps of the White House after returning from hospital, summed the pandemic political theatre of 2020, The Independent wrote.

Trump has used this mask-wearing as a sign of weakness to further his political agenda.

Peter Glick, a bias and discrimination expert at Lawrence University, “Conservatives seem to be reacting to a broader sense of the erosion of male privilege and dominance in society, and they, therefore, look up to male leaders who embrace masculine stereotypes. The masculine leaders they elect are very protective of their macho image, making them anti-maskers.”

His theory is supported by research. In June, a study conducted by Pew Research Center found that 76 percent of Democrat voters reported wearing a mask all the time in public, while only 53 percent of Republicans said the wore a mask.

Left-leaning people are comparatively more invested in the care foundation, i.e., protecting the vulnerable. The right-leaning people, on the other hand, hold freedom as a core value. This is perhaps why politically right-leaning people see mask-wearing as an infringement on their masculinity to a higher degree than those on the left.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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 5 Minutes Read

Aditya Birla Fashion-Flipkart deal: What it means for the 2 companies

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Ankur Bisen of Technopak Advisors, Abneesh Roy of Edelweiss, Vaishnavi Mandhaniya of Anand Rathi Financial Services shared their insights on what it meants for both Flipkart as well as ABFRL in an interview with CNBC-TV18.

Walmart owned Flipkart is going to buy a minority stake in Aditya Birla’s Fashion Retail (ABFRL) for Rs 1,500 crore.

Ankur Bisen of Technopak Advisors, Abneesh Roy of Edelweiss, Vaishnavi Mandhaniya of Anand Rathi Financial Services shared their insights on what it meants for both Flipkart as well as ABFRL in an interview with CNBC-TV18.

It is a great deal in the context of how retail and fashion retail has changed in the post-COVID world, said Bisen. “This omnichannel as a reality is now, and here to stay for both e-commerce retailers and brick retailers,” he said.

ABFRL has got some solid brands, a great legacy, it is one of the largest men’s fashion retailer in fashion, and so the deal is a win-win deal for both ABFRL and Flipkart, said Bisen.

“We see significant rerating. ABFRL has one of the highest debt-to-equity ratio in this space and my sense is in the next one year, it will become almost net debt-free,” said Roy.

“Reliance will be relevant in every retail format, second will be Amazon and third will be Flipkart and fourth will be Tata. So all other brands would need to realign themselves otherwise it will become very tough for them to survive. ABFRL gains from here. I would see much higher chances of succession,” Roy said.

Mandhaniya sees a lot of scope for online growth. “The deal will win. However that is more of a longer-term view that will play out. In the short-term, the debt reduction will take place for them on a more immediate basis which will lead to a rerating,” she said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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What coins do you think will be valuable over next 3 years?

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Should Elon Musk be able to buy Twitter?

Aditya Birla Fashion in talks for alliance with global players: Sources

Hit hard by the lockdown, Aditya Birla Fashion & Retail is looking to expand its online presence.

Sources told CNBC-TV18’s Nisha Poddar that Aditya Birla Group is in talks with global giants to explore various options for a strategic alliance.

The e-commerce space is doing better in India and that is the area that Aditya Birla Fashion is looking at capturing.

For more, watch the video

 5 Minutes Read

Beauty products, kids wear, ethnic wear seeing maximum buyers: Myntra

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

“Going into this festive season, there is a lot of demand coming in from consumers across the categories. We have seen 100 percent growth in ethnic wear category, kids is also growing at 100-150 percent and beauty is growing at 200 percent on our platform,” Amar Nagaram, CEO, Myntra said in an interview to CNBC-TV18.

“Going into this festive season, there is a lot of demand coming in from consumers across the categories. We have seen 100 percent growth in ethnic wear category, kids wear is growing at 100-150 percent and beauty is growing at 200 percent on our platform,” Amar Nagaram, CEO, Myntra said in an interview to CNBC-TV18.

Nagaram said that people have become value conscious during the pandemic, and that 50 percent of the revenues have come from Tier 2 and Tier 3 cities.

Watch video for more

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

From calorie counters to home workouts, how this AI-based app is ‘Healthify’ing Indians

An AI health & fitness app, Healthifyme transformed itself from a services platform to an AI company with the launch of its smart plans last year. The venture crossed a USD 15 million run rate in August and is looking to cross USD 20 million run rate by January next year with nearly 20 percent of its revenues coming from outside India.

The company has nearly doubled its active paid subscriber base since April to 1 lakh customers and has a user base of 17 million. To know more about the venture, Startup Street spoke to Tushar Vashisht Co-Founder & CEO of Healthifyme.

Also watch Startup Street in conversation with Sanjay Tiwari Co-Founder of 21CC Education and Bharath Bevinahally Co-Founder & CEO, Kutuki.