Over the years, D’Mart stunned the industry as retail chains backed by corporate houses with deep pockets struggled to break even.
In his late 20s, Noronha was handpicked by ace investor Radhakishan Damani to head his retail venture D'Mart. Damani spotted the young account manager with HUL.
The stock is seeing increased interest from several institutional funds that were massively underweight on it due to the under-performance in the past eight years.
“We will certainly grow at over 20% in our branded apparel business and will reach the double-digit EBIDTA margin in the next 12-24 months,“ said Sanjay Bahl, group CFO, Raymond.
CRU, a London-based leading metal consultant, has warned that the aluminium industry may see a sharp rise in the production cost due to deficit of pet coke.
In the December quarter, JSPL's EBIDTA jumped 50% quarter on quarter and 125% year-on-year to Rs 1277 crore, driven by higher margins in its steel and power businesses.
What is perceived by the Street as a governance issue is the discrepancy in the profit figures of the consumer business provided by the two companies.
“Our focus would be to bring down our debt-to-EBIDTA to less than 3,“ Hindalco MD Satish Pai told ET.
In the December 2016 quarter, sales volume rose by 4% year-on-year and by 23% compared with the previous quarter.
Brokerages expect the company, which has projects in premium market Bandra Kurla Complex (BKC) and Goregaon in Mumbai, to report weak numbers due to cash ban.
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