Ayaz Motiwala has been betting on Phoenix Mills & KIMs. Here’s why
"Discretionary spending is at absolutely new highs and the index is 20 to 30% higher on a 2-3 year basis. Phoenix wants to be a city centric large retail-led mall sort of a real estate player but their vision is primary retail led. About 10-15 years ago they tried to go to the then smaller cities such as Indore, Lucknow etc. All those cities have grown much bigger over the years.”
Phoenix Mills July-September net profit Rs 185.8 crore, up 212% on year
Income from retail operations for the quarter rose 95% to Rs 456 crore, while income from residential business saw 5% decline to Rs 57.9 crore. Total income from office business rose 3% to Rs 43.5 crore, the company said in a regulatory filing.
These 9 consumer discretionary stocks hit their new 52-week high
The 52-week high is the highest price at which a stock has traded during the last year. Some traders and investors use this technical indicator as an important factor to analyse a stock's current value and to predict its future price movement.
Over next few months, volatility to offer natural opportunity for long-term investors: Vinit Sambre
“One should remain invested and six months from now, if one is unhappy, then one must extend the time horizon as it is going to be a good journey. There could be one-off events which will keep hurting or impacting the markets but one has to stay invested in equities. This is a good time over the next four, five years.”
For Coromandel Agro, the record date for determining shareholders eligibility for the dividend payout is also September 12, 2022. Today is the record date for Suven Pharmaceuticals Rs 5 per share special dividend and Re 1 per share interim dividend.
The Phoenix Mills reports Rs 718 crore net profit in April-June
Retail consumption rose 123% during the quarter to around Rs 2,190.5 crore, which is at 123% of the pre-Covid period of first quarter of 2019-20. Total consumption in July 2022 rose 133% to Rs 792 crore and strong consumption growth has continued so far in August 2022 as well, the company said.
Ahead of Market: 10 things that will decide stock action on Friday
“The consolidation with high volatility is likely to continue for the next 1-2 sessions. Immediate support is placed at 17,200 and the strong resistance to be watched at 17,500 levels. A decisive move above the hurdle could pull Nifty towards the next upside trajectory of 17,800 levels.”
Singapore sovereign fund GIC invests Rs 400 crore more in Phoenix Mills’ joint venture
The investment is the second tranche of investment under the strategic partnership between GIC and Indias largest retail-led mixed-use asset developer and operator to set up a joint venture to develop, own and operate retail-led, mixed-use developments across India.
“Given Zomatos sudden desperation to go out and buy the remaining stake in Blinkit and giving away about Rs 6,000 crore is something that the market would not be able to fathom and anyway the risk appetite is clearly missing for people to go in for very fancy business models, no profitability and even the cash getting burned out like this. It will definitely hurt the sentiment.”
Don’t see a case for a significant market correction from current price point: Hemang Jani
“I do not see a case for a significant correction from the current price point. The risk to the earning is not very high at this point of time and even if one gets an earning growth of 12-14% for next year, the market would be quite happy to go with that kind of a number.”
Mall operators are now heading for small cities teeming with customers
"Brands have realised where the customer base is and want to move there. We are opening in Indore and Ahmedabad this year, and there is a lot of demand from our existing malls in tier-2 cities," said Rajendra Kalkar, president, west at Phoenix Mills, which operates more than half a dozen malls in Mumbai, Pune and Bengaluru, and in some tier-2 cities.
Phoenix Mills to add 4.4 million sq ft to retail portfolio in 12-15 months
Phoenix that counts Singapore sovereign wealth fund GIC and the Canada Pension Plan Investment Board (CPPIB) as its partners will hold around 4.4 million sq ft cumulative leasable retail space across the four malls. The company is investing around Rs 4,000 crore to develop the retail component of these projects.