Kids retail chain Toonz Retail is planning to invest over Rs 30 crore to add 100 new stores by fiscal 2020.
The company already operates 107 stores and is looking to expand its presence and open stores in Maharashtra, Gujarat, UP.
"Depending on the city and locality the new store capital budget varies from Rs 30-50 lakh where around 8-10 per cent is spent on marketing for the initial months," managing director Sharad Venkta said in a statement.
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"With a target of 200 stores for the next two years, we are growing at 22 per cent in same store growth and 60 per cent in terms of company turnover," he added.
******** CG bags Rs 111-cr order from Railways
Avantha Group firm CG has bagged an order of Rs 111 crore from the Railways for drive propulsion system of electric loco at Chittaranjan Locomotive Works.
This order opens up huge opportunities for CG especially in electric locomotives, the company said in a statement.
"Besides catering to the regular and conventional equipment needs of the Railways in the field of rolling stock products, CG is also keenly working to meet the new technologically advanced emerging needs of Railways," it said.
******** Idea doubles 4G speed in Mah & Goa
Mobile phone operator Idea, which is on course to merge with larger rival Vodafone has doubled its 4G speed by deploying additional 5 MHz spectrum in the Maharashtra and Goa circles.
Idea, which claims to be the largest operator in Maharashtra & Goa, has also announced major plans to enhance 4G capacity and bandwidth in its leadership circle and is in the process of doubling its current 4G capacity by adding 5 MHz spectrum in the 1800 MHz band to increase data speed, the company said in a statement.
******** Shriram Life launches of assured benefit plan
Private sector Shriram Life Insurance has introduced a life genius assured benefit plan to help in financing the education needs of the child.
The plan covers the life of the parent and the benefits are structured to meet the goals of the child, though the child is not covered under the policy. It is a comprehensive financial tool to plan for future milestones of the child's higher education and other goals.
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AI bags World Quality Congress green award
State-owned Air India has bagged the "best environmental, health and safety company of the year" award from the World Quality Congress.
The World Quality Congress reviews and gives due recognition to the projects that focus on improved environmental and safety processes for its customers and community, Air India's corporate safety, quality and environmental management systems head Harpreet De Singh said.
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ISL's first match sees 59% jump in viewership
The fourth season of the football tournament Indian Super League made a strong start this year as the inaugural match between ATK and Kerala Blasters FC on November 17, got 25 million total TV impressions, posting a 59 per cent growth over last season's opening game.
"We are thrilled with the response that the Hero Indian Super League is getting from football fans across the country. This growth demonstrates is across urban, rural and digital audiences," Star India MD Sanjay Gupta said.
******** UTI Capital closes first structured debt opportunities fund
UTI Capital, a fully-owned subsidiary of UTI Mutual Fund has announced the first close of a structured debt opportunities fund.
The that closed on November 15 has with a target corpus of Rs 750 crore with an additional greenshoe option of Rs 250 crore.
The capital commitments in the fund currently stand at over Rs 480 crore, UTI Capital said in a statement.
UTI Capital is the alternatives vehicle for UTI AMC. It is also the investment manager of UTI Structured Debt Opportunities Trust, a Category II alternate investment fund which got Sebi this August.
The UTI structured debt opportunities fund I is the first scheme of UTI Structured Debt Opportunities Trust.
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