2. English clothing brand, Stephens Brothers, is eyeing an up to 40
per cent revenue growth this fiscal and plans to enhance its retail
presence through a tie-up with large-format store-chain --
Central, a top company official said.
"We are targeting a 30-40 per cent revenue growth in FY11 and will
expand our retail presence through Central in destinations such as
Bangalore, Hyderabad and Pune," SKNL Director, Apparel and Retail,
Ashesh Amin, told PTI here.
Stephens Brothers plans to acquire a carpet area of around 300-
400 square feet at Central stores and will retail merchandise for
both men and women, including apparels and accessories.
3. Honda motor Co said on Friday it was recalling 528,000 vehicles world-wide
due to potential problems with a master brake cylinder seal. Most of the
recalled vehicles are Odyssey minivans sold in the United States. The recall
is similar to one issued on Thursday by Toyota Motor Corp for about 1.5
million vehicles worldwide.
The same supplier, ADVICS Co Ltd, a privately held Japanese company with
a unit in the United States , made the seals for both major automakers.
No accidents or injuries have been reported due to to the faulty seals. Of
the Honda recalls, 435,000 of them are Odyssey minivans sold in the United
States.
A Honda spokeswoman said the automaker will in the next couple
of months tell customers to bring cars to dealerships for repairs.
4. The country's largest carmaker Maruti today reported a 4.95 per
cent rise in its net profit for the quarter ended September 30 at Rs
598.24 crore on the back of its highest-ever quarterly sales.
The company, which had posted a net profit of Rs 570 crore in the
corresponding period last year, said its margins were under
pressure during the quarter due to high commodity prices, and also
higher royalty payment to the parent Suzuki Motor Corp.
"This quarter, we achieved highest-ever sales and in the domestic
market we had a volume growth of 32.93 per cent," Maruti Suzuki
India (MSI) Managing Director and CEO Shinzo Nakanishi told
reporters here.
5. , India’s biggest company by market value, reported a 28% rise in
quarterly net profit, in line with street estimates, and sees a
positive outlook as strong demand in emerging markets and
modest economic recovery in developed economies is likely to
boost sales for the oil and petrochemicals major.
Quarterly profit rose as it pumped more natural gas, processed
more crude oil at its refineries and shipped out more fuel from its
export-focused plant at Jamnagar , earning more dollars for each
barrel it refined.
In the June-September quarter, when the spotlight shifted to
growth and acquisitions from a long-running dispute between
chairman Mukesh Ambani and his estranged brother Anil,
Reliance’s quarterly profit leapt to the highest in about three years,
while turnover rose 22.8%.
