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Time of India
2 days ago
- Business
- Time of India
I-Day boost: Discounts drive 8-10% sales growth; executives eye stronger festive season
Independence Day discounts gave India's retail sector a much-needed boost, with footfalls and sales rising by 8-10% year-on-year across key shopping destinations. Industry executives say the revival in entry-to-mid segment demand has raised hopes of a strong festive season ahead. Electronics, particularly in affordable categories, along with groceries and apparel have seen healthy growth. Restaurants, too, are reporting higher sales as malls draw more visitors, helped by new film releases and a surge in in-home dining orders. 'After several months, there is good demand for entry to mid-segment products,' Nilesh Gupta, director at electronic retail chain Vijay Sales told ET. 'Walk-ins are good and there is over 8% jump in sales value over last year, which is better than last year,' he added. Electronics makers and grocery retailers ran promotional offers around Independence Day eve, one of the biggest consumption periods outside the festive and Republic Day seasons. At Reliance Retail, sales grew in double digits, according to an executive. Haier India president Satish NS told ET that the electronics manufacturer's Independence Day sales were up more than 20% over last year, with 'most categories driving sales.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Luxury 3 & 4 BHKs with 25+ World-Class Amenities Evara Thane Buy Now Undo On the ecommerce front, Tata-owned BigBasket reported a 42% on-year jump in patriotic merchandise sales on Friday, alongside strong demand for electronics, including the new iPhone 16. Malls also recorded a surge in traffic during the long weekend. Theatres are seeing back-to-back housefull shows for the first time since the pandemic, powered by Rajinikanth's Coolie and Hrithik Roshan's War 2. 'The crowd that comes for the movie adds at least 10% of the revenue for fashion brands, food and beverages,' said Harsh V Bansal, cofounder of Unity Group, which operates more than six malls in Delhi and Punjab. 'The next few days also look good in terms of footfall and sales,' he added. International labels have also drawn shoppers, with discounts prompting customers to buy at lower price points. 'International brands have contributed to the growth with consumers using the lower price point during the sale to buy products,' said Muhammad Ali, chief executive, retail, at Prestige Group, which operates five malls in South India. Those malls have reported a 15% year-on-year rise in sales. 'One segment which has not done well is Indian women's wear, which is a cause of worry,' he told ET. Revival hopes Retailers and brands have been under pressure for nine to ten quarters as low-to-middle-income households grappled with high inflation and weak earnings growth. Higher spending on travel and tourism further dented retail demand. Executives, however, are forecasting a turnaround in the second half of the fiscal, supported by low inflation, soft loan rates, reduced income-tax slabs this year and good monsoon rains. 'While middle class discretionary spending was under pressure, some consumption has started and with the festival tail wind, the outlook is much better,' Anjan Chatterjee, managing director of Speciality Restaurants told ET. He said that Independence Day demand trends have been 'reassuring, with a 15-18% year-on-year growth.' The government on Friday also said GST rates will be rationalised by Diwali to boost consumption, improve affordability and make essential as well as aspirational goods more accessible to a wider base of consumers—moves expected to spur further demand. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
Time of India
3 days ago
- Business
- Time of India
I-Day Fuels a Revival in Retail Sales
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Epaper Tired of too many ads? Remove Ads Independence Day discounts have lifted footfalls and sales by 8-10% YoY across key retail destinations in the country, with a revival in entry-to-mid segment demand raising hopes of a strong festive of electronics, particularly in the more affordable segments, groceries and apparel have picked up, while restaurants are benefiting from higher mall traffic boosted by new movie releases and a rise in in-home dining orders, industry executives said.'After several months, there is good demand for entry to mid-segment products,' said Nilesh Gupta, director at electronic retail chain Vijay are good and there is over 8% jump in sales value over last year, which is better than last year, he companies and grocery retailers run promotional offers specifically for the Independence Day eve--one of the largest consumption periods, along with the Republic Day sales, after the festive India's largest retailer Reliance Retail, sales grew in double digits over last year, an executive has been running I-day promotional offers across the consumption basket—electronics, groceries and fashion, and keeping stores open from early morning till late India president Satish NS said the electronics manufacturer's I-Day sales are up over 20% compared to last year, with most categories driving ecommerce app BigBasket reported a 42% on-year increase in patriotic merchandise sales on Friday, apart from a surge in sales of electronics including iPhone said footfalls have surged due to long weekends, discounts on offer, and new movie releases, powered by Rajinikanth's Coolie and Hrithik Roshan's War 2.'The crowd that comes for the movie adds at least 10% of the revenue for fashion brands, food and beverages,' said Harsh V Bansal, cofounder of Unity Group, which operates over half a dozen malls in Delhi and Punjab. 'The next few days also look good in terms of footfall and sales,' he the first time since the Covid-19 pandemic, theatres are seeing back-to-back movies going housefull, Bansal of the I-Day offers are continuing till the weekend.'International brands have contributed to the growth with consumers using the lower price point during the sale to buy products,' said Muhammad Ali, chief executive, retail, at Prestige Group, which operates five malls in South India. These malls have seen a 15% on-year growth in sales. 'One segment which has not done well is Indian women's wear, which is a cause of worry,' Ali and brands have been struggling with discretionary sales for the last 9-10 quarters, as low-to-middle-income consumers remained hard-pressed by high inflation and sluggish earnings growth. Higher spending on travel and tourism by many consumers also impacted retail sales, executives executives, however, have forecasted a recovery in consumption in the second half of this fiscal, aided by low inflation, low interest rates on loans, a reduction in income-tax rates this year and good monsoon rains.'While middle class discretionary spending was under pressure, some consumption has started and with the festival tail wind, the outlook is much better,' said Anjan Chatterjee, managing director of Speciality Restaurants, which operates chains like Mainland China and Oh! trend during Independence Day has been reassuring, with a 15-18% year-on-year growth, he government on Friday said GST rates will be rationalised to enhance affordability, boost consumption, and make essential and aspirational goods more accessible to a wider population by Diwali which too will bring back has been optimism across companies with sales during June and July improving sequentially after intermittent rains and early onset of monsoon impacted sales in the April-May period.
Economic Times
3 days ago
- Business
- Economic Times
Independence Day fuels a revival in retail sales
Synopsis Independence Day sales boosted retail across India. Discounts increased foot traffic and sales by 8-10%. Electronics, groceries, and apparel saw strong demand. Restaurants benefited from mall traffic and movie releases. Retailers hope for a strong festive season. Reliance Retail and BigBasket reported significant sales growth. Malls saw increased footfalls. The government plans to rationalize GST rates to boost consumption. Independence Day discounts have lifted footfalls and sales by 8-10% YoY across key retail destinations in the country, with a revival in entry-to-mid segment demand raising hopes of a strong festive of electronics, particularly in the more affordable segments, groceries and apparel have picked up, while restaurants are benefiting from higher mall traffic boosted by new movie releases and a rise in in-home dining orders, industry executives said. 'After several months, there is good demand for entry to mid-segment products,' said Nilesh Gupta, director at electronic retail chain Vijay are good and there is over 8% jump in sales value over last year, which is better than last year, he companies and grocery retailers run promotional offers specifically for the Independence Day eve--one of the largest consumption periods, along with the Republic Day sales, after the festive season. At India's largest retailer Reliance Retail, sales grew in double digits over last year, an executive has been running I-day promotional offers across the consumption basket—electronics, groceries and fashion, and keeping stores open from early morning till late India president Satish NS said the electronics manufacturer's I-Day sales are up over 20% compared to last year, with most categories driving ecommerce app BigBasket reported a 42% on-year increase in patriotic merchandise sales on Friday, apart from a surge in sales of electronics including iPhone said footfalls have surged due to long weekends, discounts on offer, and new movie releases, powered by Rajinikanth's Coolie and Hrithik Roshan's War 2.'The crowd that comes for the movie adds at least 10% of the revenue for fashion brands, food and beverages,' said Harsh V Bansal, cofounder of Unity Group, which operates over half a dozen malls in Delhi and Punjab. 'The next few days also look good in terms of footfall and sales,' he the first time since the Covid-19 pandemic, theatres are seeing back-to-back movies going housefull, Bansal of the I-Day offers are continuing till the weekend.'International brands have contributed to the growth with consumers using the lower price point during the sale to buy products,' said Muhammad Ali, chief executive, retail, at Prestige Group, which operates five malls in South India. These malls have seen a 15% on-year growth in sales. 'One segment which has not done well is Indian women's wear, which is a cause of worry,' Ali said. Rebound hopes Retailers and brands have been struggling with discretionary sales for the last 9-10 quarters, as low-to-middle-income consumers remained hard-pressed by high inflation and sluggish earnings growth. Higher spending on travel and tourism by many consumers also impacted retail sales, executives executives, however, have forecasted a recovery in consumption in the second half of this fiscal, aided by low inflation, low interest rates on loans, a reduction in income-tax rates this year and good monsoon rains. 'While middle class discretionary spending was under pressure, some consumption has started and with the festival tail wind, the outlook is much better,' said Anjan Chatterjee, managing director of Speciality Restaurants, which operates chains like Mainland China and Oh! Calcutta. The trend during Independence Day has been reassuring, with a 15-18% year-on-year growth, he government on Friday said GST rates will be rationalised to enhance affordability, boost consumption, and make essential and aspirational goods more accessible to a wider population by Diwali which too will bring back has been optimism across companies with sales during June and July improving sequentially after intermittent rains and early onset of monsoon impacted sales in the April-May period.
Time of India
3 days ago
- Business
- Time of India
Independence Day fuels a revival in retail sales
Independence Day sales boosted retail across India. Discounts increased foot traffic and sales by 8-10%. Electronics, groceries, and apparel saw strong demand. Restaurants benefited from mall traffic and movie releases. Retailers hope for a strong festive season. Reliance Retail and BigBasket reported significant sales growth. Malls saw increased footfalls. The government plans to rationalize GST rates to boost consumption. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Independence Day discounts have lifted footfalls and sales by 8-10% YoY across key retail destinations in the country, with a revival in entry-to-mid segment demand raising hopes of a strong festive of electronics, particularly in the more affordable segments, groceries and apparel have picked up, while restaurants are benefiting from higher mall traffic boosted by new movie releases and a rise in in-home dining orders, industry executives said.'After several months, there is good demand for entry to mid-segment products,' said Nilesh Gupta, director at electronic retail chain Vijay Sales Walk-ins are good and there is over 8% jump in sales value over last year, which is better than last year, he companies and grocery retailers run promotional offers specifically for the Independence Day eve--one of the largest consumption periods, along with the Republic Day sales, after the festive India's largest retailer Reliance Retail, sales grew in double digits over last year, an executive has been running I-day promotional offers across the consumption basket—electronics, groceries and fashion, and keeping stores open from early morning till late India president Satish NS said the electronics manufacturer's I-Day sales are up over 20% compared to last year, with most categories driving ecommerce app BigBasket reported a 42% on-year increase in patriotic merchandise sales on Friday, apart from a surge in sales of electronics including iPhone said footfalls have surged due to long weekends, discounts on offer, and new movie releases, powered by Rajinikanth's Coolie and Hrithik Roshan's War 2.'The crowd that comes for the movie adds at least 10% of the revenue for fashion brands, food and beverages,' said Harsh V Bansal, cofounder of Unity Group, which operates over half a dozen malls in Delhi and Punjab. 'The next few days also look good in terms of footfall and sales,' he the first time since the Covid-19 pandemic, theatres are seeing back-to-back movies going housefull, Bansal of the I-Day offers are continuing till the weekend.'International brands have contributed to the growth with consumers using the lower price point during the sale to buy products,' said Muhammad Ali, chief executive, retail, at Prestige Group, which operates five malls in South India. These malls have seen a 15% on-year growth in sales. 'One segment which has not done well is Indian women's wear, which is a cause of worry,' Ali and brands have been struggling with discretionary sales for the last 9-10 quarters, as low-to-middle-income consumers remained hard-pressed by high inflation and sluggish earnings growth. Higher spending on travel and tourism by many consumers also impacted retail sales, executives executives, however, have forecasted a recovery in consumption in the second half of this fiscal, aided by low inflation, low interest rates on loans, a reduction in income-tax rates this year and good monsoon rains.'While middle class discretionary spending was under pressure, some consumption has started and with the festival tail wind, the outlook is much better,' said Anjan Chatterjee, managing director of Speciality Restaurants , which operates chains like Mainland China and Oh! trend during Independence Day has been reassuring, with a 15-18% year-on-year growth, he government on Friday said GST rates will be rationalised to enhance affordability, boost consumption, and make essential and aspirational goods more accessible to a wider population by Diwali which too will bring back has been optimism across companies with sales during June and July improving sequentially after intermittent rains and early onset of monsoon impacted sales in the April-May period.
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Business Standard
07-08-2025
- Business
- Business Standard
Lupin shares advance 5% after Q1 results; should you buy in?
Shares of Lupin gained nearly 5 per cent on Thursday as analysts remained bullish after the firm posted a 52 per cent year-on-year increase in net profit in the first quarter of the current financial year (Q1FY26) The pharma major's stock rose as much as 4.65 per cent during the day to ₹1,937.9 per share, the biggest intraday rise since April 28 this year. The stock pared gains to trade 3.8 per cent higher at ₹1,919 apiece, compared to a 0.32 per cent decline in Nifty 50 as of 9:57 AM. Shares of the company snapped a two-day losing streak and currently trade at 5.9 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 18 per cent this year, compared to a 3.6 per cent advance in the benchmark Nifty 50. Lupin has a total market capitalisation of ₹88,332.65 crore. Lupin Q1 results The drug maker reported a profit after tax (PAT) of ₹1,221 crore in the April-June quarter, marking an increase of 72 per cent year-on-year (Y-o-Y). Revenue rose to ₹6,164 crore in the first quarter as against ₹5,514 crore in the year-ago period. The company said its sales in the US stood at ₹2,404 crore in the June quarter, registering a growth of 24 per cent as compared to ₹1,934 crore in the year-ago period. India sales for Q1 FY26 stood at ₹2,089 crore, up 8 per cent from ₹1,938 crore. "We continue to build strong business momentum, anchored by a robust product portfolio, improved efficiencies, and effective use of assets and investments," Managing Director Nilesh Gupta said. "As we begin the year, our sharpened focus on compliance, innovation, and technology positions us to further unlock sustainable growth," he added. Analysts on Lupin Q1 results Antique Stock Broking noted that Lupin delivered a strong first-quarter performance for FY26. Ebitda rose 28 per cent Y-o-Y despite a 38 per cent increase in R&D expenses. The quarter marked the launch of Tolvaptan (gJynarque) under sole FTF exclusivity in the US, boosting US sales to $282 million, it said, adding that the base US business saw single-digit price erosion. A further ramp-up is expected in the second quarter, analysts said. It maintained a 'Buy' rating on the stock with a revised target of ₹2,450 per share (earlier ₹2,395). Systematix Institutional Equities said that while revenue and Ebitda came in below expectations, net profit was in line. The revenue and Ebitda miss was primarily due to lower-than-expected US sales, it noted. The brokerage has revised its estimates to reflect a higher contribution from generic Mirabegron over the year. Systematix maintains a 'Hold' rating on Lupin with a target price of ₹2,050. Lupin's superior performance was driven by 180-day exclusivity in tolvaptan and continued running in gSpiriva and gMyrbetriq, according to analysts at Nuvama Institutional Equities. FY26 is a strong year for Lupin with further launches of glucagon and liraglutide over the next few months, it said. They retained 'Buy' with a target price of ₹2,340 per share.
