Business Daily from THE HINDU group of publications
Thursday, Jan 17, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Thursday, Jan 17, 2008 ePaper | Mobile/PDA Version |
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Markets
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Announcements Our Bureau Coimbatore, Jan. 16 Archies Ltd, which has launched the 100th company-owned store, has plans to open 50 more stores during 2008-09 and total of 200 stores by the end of 2010. Conscious of the retail boom taking place in the country, the company is targeting malls and other prime retail space for opening its own stores. Archies currently operates exclusive outlets in 14 States in 24 cities and 375+ franchise outlets across India and overseas. The company’s revenue from retail operations is expected to go up to 70 per cent by March 2010. Mahindra & Mahindra Ltd has said that Mahindra Holidays & Resorts India Ltd (MHRIL), a leisure hospitality provider, and a subsidiary of Mahindra Holdings & Finance Ltd has finalised a 1 per cent private placement deal with NYLIM Jacob Ballas India Fund III, LLC, for a consideration of around $10.06 million. The equity shares to be transferred to NYLIM Jacob Ballas India Fund III, LLC, shall be subject to lock-in after the IPO as per SEBI regulations. Reliance Petroleum Ltd has announced that it has achieved 82 per cent overall progress in just 24 months since commencement of the refinery project work at Jamnagar. Based on the progress so far, the company is on course to complete the project ahead of its initial schedule of December 2008.
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