The company would receive cash consideration estimated at about Rs 150 crore upon the closure of transaction and thus, will fully recover the capital employed in the business
Higher raw material costs will put pressure on profitability
V-Mart Retail on Wednesday said it has raised Rs 374.99 crore
Convenience and comfort of ordering from homes apart from discounts pushing people to choose e-commerce over offline
For the quarter ended June 2020, V-Mart reported a loss of Rs 33.64 crore as against net profit of Rs 17.60 crore in the year-ago period.
At the heart of the matter are revenue-share rental agreements that retailers are mooting over fixed-rent contracts that they say are unsustainable
Future Group also has plans to invest Rs 350 crore to open 140 exclusive outlets in the next two years.
V-Mart has already opened 20 new stores this fiscal and now operates 233 outlets.
Same-store sales growth down to 2-7% in Q1, lower than 3-9% reported in Q4
Its total expenses in period under review stood at Rs 2.72 billion
V-Mart Retail hit a new high of Rs 3,036, surges 7%, extending its 14% gain in past three trading sessions on the BSE.
The stock hit a new high of Rs 2,405, zoomed 1403% in past five years from Rs 160 against 76% surge in the S&P BSE Sensex.
V-Mart's shares surged more than 10-fold since IPO in 2013
The stock was trading 13% higher at Rs 2,198 on the BSE, as compared to 1.1% decline in the S&P BSE Sensex at 02:51 pm.
The stock hit a new high of Rs 2,103, up 11% on the BSE after promoters of the company re-align their shareholding in the company through block deals in early morning trade on Tuesday.
The stock hit a new high of Rs 1,459, surges an over 200% so far in 2017, against 18% gain in Sensex
Thus far in 2017, the stock rallied 79% as compared to 11% rise in Sensex till Monday.
In past two months, the stock appreciated by 84% as compared to 8.4% rise in Sensex.
The stock hit a record high of Rs 718, up 7% in intra-day trade, extending its previous day's 7% surge on the BSE.