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<ul><li>Consumer-centricity will be the key factor driving high revenues for retail businesses this year. </li><li>As per the Festive Sentiments Tracker survey by Disney+ Hotstar, 66% of consumers will spend more on festive shopping this year than the last. </li><li>An <keyword id="2552077" type="General" weightage="100" keywordseo="omnichannel" source="Orion">omnichannel</keyword> platform provides a channel-agnostic buying experience for retail customers.</li></ul>After two years, Indians are finally thronging retail storefronts – physical and online, as they prepare to celebrate the festive season with gusto. And retailers can't stop smiling. A Retailers Association of India survey showed that the sector is expected to grow by 9-10% annually to touch $2 trillion by 2032. According to the Festive Sentiments Tracker survey by Disney+ Hotstar, 66% of consumers will spend more on festive shopping this year than the last. While the spending sentiment is bullish, retailers are eyeballing their decisive use-it-or-lose-it moment as they jostle for their share of the consumer's wallet. <keyword id="246125" type="General" weightage="50" keywordseo="nilesh-gupta" source="Orion">Nilesh Gupta</keyword>, director of Vijay Sales, noted that while the festive season demand is traditionally higher given the ambient positive consumer sentiment, the post-pandemic normalcy will propel increased demand momentum this year compared to the last two years. "Shoppers already purchased items worth ₹1.25 trillion in 2021, the highest for the whole decade," he added. "We now expect a 10% growth in sales during this festive period over last year." <cmsannotation type="cmsannotation" annotationid="Blurring of online and offline" comment="subhead" text="Blurring of online and offline">Blurring of online and offline</cmsannotation> As retailers pivot to an omnichannel model to reach a broader customer base, technology plays a crucial role in seamlessly integrating backend processes with consumer-facing delivery. Bengaluru-based Namdhari's Group, which runs the Simpli Namdhari’s chain of grocery superstores, continues to spend 3-5% of its annual budget for tech deployments as it strengthens its omnichannel presence. Elaborating on the tech deployment done by the company’s retail division, Gurmukh Roopra, CEO of Namdhari's Group, said, "As customers access products through multiple touchpoints, systems and integrations should be flexible to accommodate these needs from a customer-facing and experience perspective, and seamless integration of information within the retail operating ecosystem. The importance of having a single view of the customer and their transactions cannot be overstated." Since the grocery and food business witnesses rapid changes, Simpli Namdhari's is currently focused on interpreting customer data and buying insights across multiple channels and combining this into a single dashboard. Besides personalising the customer experience, the retail chain also helps them make informed decisions regarding marketing, sales, product development and customer support. According to <keyword id="5520044" type="General" weightage="50" keywordseo="berry-singh" source="Orion">Berry Singh</keyword>, COO of Ace Turtle, which provides tech solutions to retail brands, an omnichannel platform offers a channel-agnostic journey for customers. "Contrary to what brands and retailers often think, customers don't care so much about the channel for shopping. They mostly care about wide selection, low prices and a smooth shopping experience." Hence, providing multiple opportunities for customers to interact with brands allows more convenient solutions for the ways customers like to connect, leading to a positive customer experience and enhancing loyalty. <cmsannotation type="cmsannotation" annotationid="Training sights on websites" comment="subhead" text="Training sights on websites">Training sights on websites</cmsannotation> CaratLane's website is engineered to provide relevant information across every stage of a customer's buying journey by monitoring their online activities. "We then categorise this based on the level of intent and frequency—high, medium, and low prospects—which become the lead pool," said <keyword id="13129700" type="General" weightage="50" keywordseo="avnish-anand" source="Orion">Avnish Anand</keyword>, COO and co-founder of CaratLane. "This is further optimised before our team calls the customer since repeat users seek more personalised offers, which finally results in customer retention." Retail tech company Gokwik's co-founder <keyword id="4075194" type="General" weightage="50" keywordseo="chirag-taneja" source="Orion">Chirag Taneja</keyword> opined that 79% of customers dissatisfied with online shopping are less likely to shop from the brand's website again. Also, more than 50% expect websites to load within two seconds. While urging retailers to focus on an optimised website performance, he added that they should also invest in personalised shopping for their customers, be it buyer journey, cross or up selling, bundling, discounts, or payment methods. "These are critical for better consumer experience and for garnering a higher share of wallet from customers," he added. "Retailers should also invest in building trust and security on their online platforms with faster checkouts, fraud prevention and authentic reviews to ensure higher conversion rates." <cmsannotation type="cmsannotation" annotationid="History comes in handy" comment="subhead" text="History comes in handy">History comes in handy</cmsannotation> Clothing brand Celio created its digital blueprint four years ago to understand consumer behaviour better and take informed decisions across business functions. This included consumer-facing and backend initiatives intending to use artificial intelligence (AI), machine learning (ML) and data analytics. However, simplistic as its sounds, the company's India CEO, Satyen Momaya, noted that it was not an easy journey. "More than the financial investment, the mindset, team alignment and their buy-in related to digitisation is needed to underline that it is not for solving a particular issue but to transform the way we operate," he said. The company expanded its footprint considerably in the past five years. Before moving to AI, it used traditional methods to classify stores based on space and revenue modules before deciding the merchandise assortment. "Implementing AI helped understand consumer behaviour. Hence, the allocation logic is very different from what we did in the past, helping our revenue growth," Momaya added. While technology tools like data analytics and AI provide some direction, ultimately, the human intent determines the direction a retail technology implementation should take. Hence, the most obvious use of data analytics is for predictive modelling of potential inventory management, stocking and promotions. However, this modelling depends on historical data-oriented models – consumer confidence and mood will lead its direction. Ajit Narayan, CMO at brand advocacy platform Socxo, added that post-pandemic value-conscious consumption has become more important. "Consumers will use their own tools to compare, seek and review. So, helping them decide through promotions, targeted advertising and social media will make for a great case for tech use in retail." The retail store is not just a physical touch point for the customers; it can also become an omnichannel fulfilment centre for online marketplace orders. "Omnichannel technology platforms help brands and retailers to reduce delivery time and optimise in-store inventory through ‘Ship from Store’. It is an efficient way to use inventory by preventing stores from holding unprofitable inventory and increasing their stock turns," Ace Turtle’s Singh advised. <cmsannotation type="cmsannotation" annotationid="Ignore at your own peril" comment="subhead" text="Ignore at your own peril">Ignore at your own peril</cmsannotation> As more services get digitised and personalised, contemporary customers want everything immediately. Retailers are fully aware that using technology is now a necessity rather than an option. According to every retailer, the ultimate constraint in retail is anticipating consumer traffic. However, successful merchants have the inherent ability to convert a more considerable proportion of their traffic into buyers, with a higher purchase size and a better margin. Talking about this, retail tech company Onebeat's VP-Sales Roei Raz said, "The overnight rush of customers to online platforms caused unpredictable traffic at retail stores. Moreover, predicting consumers' needs is complex since conventional forecasting methods are ineffective in this chaotic world." While there has been rising awareness about the adoption of omnichannel in retail globally, the on-ground adoption in India is still lower than expected. While big cities have a large customer base to support opening more stores, smaller towns with small pockets of customers might find managing physical stores unsustainable. However, they can cater to this clientele through an omnichannel presence, especially during the key festive season. This could mark the difference between success and failure as consumers become more connected, less loyal, more informed, and definitively channel-agnostic

Omnichannel becomes omniscient as retailers gear up for revenge festive celebration

<ul><li>Income tax bonanza for the salaried class and the government’s capital expenditure push have emerged as the stars of Budget 2023-24.</li><li>While the income tax exemptions are expected to increase disposable incomes of taxpayers and thereby boost demand, the capex push is aimed at promoting growth and increasing job opportunities, say experts.</li><li>The government also announced a slew of measures for the agriculture and green energy sectors, promoting the use of technology to boost output and transition to green energy.</li></ul>An upward revision in income tax slabs and a continued push on capital expenditure investments emerged as the key highlights of the Union Budget 2023-24. While the revised tax slabs under the new tax regime will benefit the middle-class and salaried individuals, the government also announced a 33% increase in its capital investment outlay for FY24 to boost growth and promote job creation. “We are steering an ambitious people-centric agenda to address global challenges and to facilitate sustainable economic development,” finance minister Nirmala <keyword id="679937" type="General" weightage="80" keywordseo="sitharaman" source="Orion">Sitharaman</keyword> said, announcing the budget. Despite an increase in capital expenditure outlay, the government has continued on its path of fiscal consolidation. Sitharaman said that while the government will meet the fiscal deficit target of 6.4% in FY23, it has been reduced to 5.9% in FY24, and further below 4.5% in FY 25-26. Sitharaman also announced that the gross borrowings are estimated at ₹15.43 lakh crore in FY24, lower than the Economic Survey 2023 estimate of ₹15.77 lakh crore. “This budget is a Bahubali budget. With one arrow multiple targets are shot. Fiscal prudence is achieved with lower deficit and path set till FY26. Consumption is supported through tax cuts. Investment outlay is enhanced. Numbers are realistic or conservative to enhance the credibility,” said Nilesh Shah, managing director, Kotak Mahindra Asset Management Company. <cmsannotation type="cmsannotation" annotationid="Here are all the major announcements of Budget 2023-24" comment="subhead" text="Here are all the major announcements of Budget 2023-24">Here are all the major announcements of Budget 2023-24</cmsannotation> Slabs for income tax computation enhanced under the new regime: Under the new income tax regime, individuals with an annual income of up to ₹9 lakh will now have to pay an income tax of ₹45,000, which is an effective tax rate of 5%. The government has also increased the limit for rebate under section 87A of the Income Tax Act to ₹7 lakh from ₹5 lakh earlier. The following are the new tax slabs: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Slab </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tax rate </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹0-3 lakh </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nil </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3-6 lakh </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6-9 lakh </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹9-12 lakh </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12-15 lakh </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15 lakh and above </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> In addition to this, there’s good news for salaried individuals as well, with the standard deduction being hiked to ₹52,500 from ₹50,000 earlier. Further, the tax exemption limit for leave encashment has been raised from ₹3 lakh to ₹25 lakh. Lastly, the new income tax regime will be applicable by default going forward. However, assessees will have an option to opt out and file their returns under the old regime. “More money in the hands of the middle class will have a cascading effect across the economy which needs this push as we continue to depend on domestic demand to beat the global uncertainty,” Sanjeev Krishan, chairperson, PwC in India. Capital expenditure outlay gets a major boost: In a bid to promote growth and job creation, the government has announced a 33% increase in capital expenditure outlay to ₹10 lakh crore for FY24, or about 3.3% of the gross domestic product (GDP). The capex outlay for FY23 is estimated at ₹7.5 lakh crore. Sitharaman outlined that infrastructure is one of the seven priorities of the government, which is now backed by the 33% increase in capex outlay for this segment. Overall, the government’s capex outlay has increased over three-fold from ₹3.1 lakh crore in FY19 to ₹10 lakh crore in FY24. Here’s how the government’s capex spending has trended since 2019 <div type="image" title="Capex spending FY19-FY24." msid="97524051" hostid="261" sizebytes="16064" caption="&amp;lt;p&amp;gt;Indian government&amp;#39;s capex spending trends since FY19&amp;lt;/p&amp;gt;"></div> “This is a positive development for domestic commercial vehicle space and more so for medium and heavy commercial vehicle (M&amp;HCV) domain,” said ICICI Direct. The government announced an allocation of ₹2.7 lakh crore for roadways and ₹2.4 lakh crore for railways. “A 33% increase in capital expenditure to ₹10 lakh crore, the highest ever, will go a long way in building roads, ports, and airports — crucial for making India a reliable investment destination. Investment of ₹2.4 lakh crore in railways is commendable,” said Anand Rathi, founder and chairman, Anand Rathi Group. Apart from this, Sitharaman also announced an outlay of ₹10,000 crore per annum to develop urban infrastructure. The government has also announced a 66% increase in funding for the PM Awaas Yojana to ₹79,000 crore in FY24, which will benefit engineering, production and construction companies. Further detailing the infrastructure push, Sitharaman said that the government has identified 100 critical transport infrastructure projects for steel, ports, fertilizers and other sectors with an investment outlay of ₹75,000 crore, which includes a private sector investment of ₹15,000 crore. Agri Accelerator Fund to encourage innovation: In a bid to promote the adoption of technology in the agriculture sector, the government announced a new Agri Accelerator Fund to promote agri-tech startups in rural areas, with a cluster-based and value chain approach through public-private partnerships. “The proposal to set up an Agri Accelerator Fund for agri-tech startups is a welcome move, and was much anticipated. Agri-tech startups who are focusing on improving the market reach for agricultural products and produce, as well as last mile delivery of products to farmers should benefit from this move,” said Raj Ramachandran, partner, JSA. Sitharaman also announced a slew of measures for the agriculture sector, which are: <ul><li>Increase in agriculture credit target to ₹20 lakh crore, with a special focus on animal husbandry, dairy and fisheries.</li><li>A new sub-scheme of PM Matsya Sampada Yojana with a targeted investment of ₹6,000 crore to further enable activities of fishermen and fish vendors.</li><li>Computerisation of 63,000 primary agricultural credit societies with an investment outlay of ₹2,516 crore.</li></ul>Green energy ambitions get a boost: The government also announced a slew of measures to encourage and promote green energy in India, including ₹35,000 crore priority capital for transition from fossil fuels to green energy. Of this, the specific outlay for National Hydrogen Mission has been set at ₹19,700 crore. The government has set a target of 5 million metric tonnes of hydrogen production capacity by 2030. Key players in the hydrogen space are Mukesh Ambani and Gautam Adani. Their green energy bets, primarily based on green and blue hydrogen, amount to $125 billion. <cmsannotation type="cmsannotation" annotationid="‘Force multiplier’ budget, say analysts" comment="subhead" text="‘Force multiplier’ budget, say analysts">‘Force multiplier’ budget, say analysts</cmsannotation> Overall, the budget has been well-received by experts, with the broad consensus being that this is a growth-oriented budget. “Growth with fiscal consolidation continues to be the continuing theme with capital expenditure at 3.3% of GDP while being committed to the long term 4.5% deficit target. Providing more incentives under the new tax regime to middle class Indians, will also widen the net of those who can invest,” said Radhika Gupta, MD and CEO, Edelweiss Asset Management. Sensex zoomed 1,180 points reacting to the tax announcements made by the government. The tax exemptions under the new regime will increase the disposable income in the hands of taxpayers, according to ICICI Securities, helping boost demand. “In keeping with its focus on inclusive growth, the Union Budget has hiked outlays on infrastructure and agriculture which in our view would have a force multiplier impact on the economy,” said S Ranganathan, head of research at LKP Securities. According to economists, the reduction in fiscal deficit targets for FY24 through FY26 will also offer relief for bond markets, with the 10-year bond yield projected to moderate to 7-7.1% in FY24, according to Abheek Barua, chief economist, HDFC Bank. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/sensex-zooms-as-finance-minister-delivers-tax-bonanza-to-middle-class/articleshow/97510050.cms">Sensex zooms 1,180 points as FM delivers tax bonanza to middle-class</a> <a href="https://www.businessinsider.in/budget/news/budget-2023-24-nirmala-sitharaman-speech-highlights-and-updates/articleshow/97512649.cms">Budget 2023-24 highlights: Those with income below ₹7 lakh a year need not pay income tax</a> <a href="https://www.businessinsider.in/budget/news/government-to-set-up-three-centres-of-excellence-in-artificial-intelligence/articleshow/97520242.cms">Budget 2023 gives a boost to artificial intelligence – government to set up three centers of excellence</a>

Income tax bonanza, capex push emerge as the stars of Budget 2023-24

New Delhi, Apr 3 () Homegrown pharma major Lupin on Friday said it has received establishment inspection report (EIR) from the US health regulator for its Aurangabad, Maharashtra, facility with no action indicated. The inspection for the facility was carried out by the US Food and Drug Administration (USFDA) between February 10 and February 14, 2020, and concluded with no observations, the company said in a regulatory filing. Commenting on the receipt of the EIR, Lupin Managing Director Nilesh Gupta said, "This takes us a step forward in our efforts of enhancing our compliance and quality standards across all our manufacturing sites." He further said, "We continue to work with the USFDA to improve our quality and compliance while providing important medicines to the US market." RKL RKL ANSANS

Lupin gets USFDA establishment inspection report for Aurangabad unit

New Delhi, Apr 11 () Pharma major Lupin on Saturday announced contribution of Rs 21 crore for relief efforts directed towards mitigating the COVID-19 crisis. The company's global giving program comprises three separate contributions made by its employees, the company and the promoter family, Lupin said in a statement. Lupin's employees have given their two days' salaries, together contributing a sum of Rs 5.5 crore to the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund), it said. "The company has matched an equal sum of Rs 5.5 crore for direct initiatives that the company will implement to support overburdened national and state healthcare systems through donation of personal protective equipment, medicines and providing meals for front-line workers and the needy," Lupin said. In addition, the promoter Desh Bandhu Gupta family has committed a sum of Rs 10 crore for other direct impact initiatives in India and elsewhere in the world to supplement Lupin's relief efforts to tackle the COVID-19 crisis, it added. As one of the leading pharmaceutical companies globally, Lupin remains committed to ensuring uninterrupted supply of medicines across India and global markets while ensuring safety of our personnel involved, Lupin MD Nilesh Gupta said. "We are grateful for this opportunity to support those who are at the front-line of this battle against COVID-19," he added. AKT ABMABM

Lupin contributes Rs 21 cr for COVID-19 relief efforts

New Delhi, Apr 3 () Shares of Lupin zoomed over 13 per cent after the company said it has received an establishment inspection report (EIR) from the US health regulator for its Aurangabad, Maharashtra, facility with no action indicated. The scrip jumped 13.05 per cent to close at Rs 654.80 on the BSE. During the day, it advanced 14.81 per cent to Rs 665. On the NSE, shares of the company gained 13.26 per cent to Rs 655.85. The inspection for the facility was carried out by the US Food and Drug Administration (USFDA) between February 10 and February 14, 2020, and concluded with no observations, the company said in a regulatory filing. Commenting on the receipt of the EIR, Lupin Managing Director Nilesh Gupta said: "This takes us a step forward in our efforts of enhancing our compliance and quality standards across all our manufacturing sites." SUM SHWSHW

Lupin shares zoom over 13 pc after getting USFDA EIR for Aurangabad unit

New Delhi, Feb 17 () Drug firm Lupin on Monday said the US health regulator has completed inspection of its Aurangabad facility in Maharashtra without any observation. The inspection was carried out by the United States Food and Drug Administration (USFDA) between February 10 to 14, 2020, Lupin said in a filing to the BSE. The inspection concluded without any observation, it added. "We are encouraged with the successful inspection at our Aurangabad facility. We continue to enhance our standards of quality and compliance across our manufacturing operations and remain committed to uphold the highest quality standards across all our sites," Lupin MD Nilesh Gupta said. Shares of Lupin on Monday closed 1.03 per cent lower at Rs 710.45 per scrip on the BSE. AKT RVK

USFDA inspection of Lupin's Aurangabad facility completed with no observation

New Delhi, Jan 27 () Pharma major Lupin on Monday said the UK Medicines and Healthcare products Regulatory Agency (MHRA), the regulatory agency of the United Kingdom, has completed the inspection at its three manufacturing plants in the country.
 The inspection of the three units at Pithampur closed with no critical observation and one major observation, the pharma major said in a filing to BSE.
 "We are pleased with the outcome of the inspection by the UK MHRA. It is a meaningful development for our Pithampur facilities. We uphold the highest quality standards across all our manufacturing sites and are committed to maintain global benchmarks," Lupin Managing Director Nilesh Gupta said.
 The shares of Lupin were trading at Rs 740.50 a piece on BSE in the morning trade, up 0.05 per cent from the previous close. SID DRR

Lupin's Pithampur facilities complete successful MHRA inspection

New Delhi, Feb 12 () Drug firm Lupin on Wednesday said the US health regulator has issued two observations after inspection of the company's Madhya Pradesh facility. The inspection of the company's Pithampur Unit-I facility by the United States Food and Drug Administration (USFDA) has been completed, Lupin said in a filing to BSE. The inspection, carried out between February 3 and February 11, 2020, closed with two 483 observations, it added. An FDA Form 483 is issued to a firm management at the conclusion of an inspection when an investigator(s) has observed any conditions that in their judgment may constitute violations of the Food Drug and Cosmetic Act and related Acts. It notifies the company's management of objectionable conditions at the facility. "We uphold the highest standards of quality and compliance across our manufacturing operations and are committed to consistently produce and distribute products of the highest quality," Lupin MD Nilesh Gupta said. Shares of Lupin were trading at Rs 702.60 per scrip on BSE, down 0.33 per cent from the previous close. AKT ANSANS

USFDA issues 2 observations after inspection of Lupin's Pithampur unit

New Delhi, Dec 18 () Drug maker Lupin on Tuesday said its subsidiary Nanomi BV has completed divestment of its entire stake in Kyowa Pharmaceutical Industry to Japan-based equity fund Unison Capital Partners.
Nanomi BV held 99.82 per cent stake in Japan-based Kyowa, Lupin said in a statement. 
 Last month, Lupin's board had approved the stake sale in Kyowa for an enterprise value of JPY 57,361 million (around Rs 3,702 crore).
The Mumbai-based drug firm said the transaction generates post tax net cash inflow of around JPY 33,429 million (Rs 2,157.6 crore) and significantly strengthens its consolidated balance sheet.
The deal helps the company pare its net debt from Rs 4,361.8 crore (as on September 30, 2019) to Rs 1,075.3 crore.
The company's net debt to equity ratio now stands at 0.08 as compared to 0.32 earlier.
 "This transaction enables us to strengthen our balance sheet and unlock significant value for the company and is aligned with our vision to focus on our key markets and strategic priorities to achieve sustainable growth," Lupin Managing Director Nilesh Gupta said.
 The company would continue to selectively monetise its complex generics, biosimilars and specialty assets in Japan with the right partners, including Unison, he added.
Lupin shares were trading 0.87 per cent up at Rs 754 apiece on the BSE. MSS ANU

Lupin's arm completes stake divestment in Kyowa

If you needed a new TV, you should have considered buying one last week. As GST has been rolled out starting last Saturday, televisions are getting costlier. A visit to the electronics stores in your vicinity would establish the fact. TV manufacturer <keyword id="6356116" type="CITY" weightage="20" keywordseo="LG">LG</keyword> has already hiked the price of its LED range. Dealers informed the ET that LG is the first among consumer durable makers to hike television (TV) prices. From LG LED televisions, LG Smart LED sets to LG UHD LED sets, dealer prices have increased in the range of 1.3 to 7% in the western region. In Delhi/NCR region, prices have gone up marginally by under 2%. Confirming the development, Vijay Sales, managing partner, Nilesh Gupta told ET, "LG has set the trend for price increases. This is on expected lines." Not just LG, <keyword id="6367990" type="CITY" weightage="20" keywordseo="Panasonic">Panasonic</keyword> will increase the price of TVs and white goods such as refrigerators and microwave ovens soon. "The quantum is still being worked out and will be finalized by the end of this week,” Ajay Seth, Director of Sales &amp; Service at <keyword id="207192" type="COMPANY" weightage="20" keywordseo="Panasonic-India">Panasonic India</keyword> told the ET . Sources said the impact can be between 3-4% on the existing retail prices. <keyword id="10591" type="CITY" weightage="20" keywordseo="Samsung">Samsung</keyword>, on the other hand, said prices are not being increased immediately. However, industry and trade sources said the Korean electronics maker had increased the prices of white goods by 1-2% before the announcement of GST.

Buying a TV would now put a dent in your pocket; thanks to GST

For the consumer electronics industry in India, festive season has come early this year, as they have seen manyfold rise in the number of televisions, refrigerators and air-conditioners sold in June, right before <keyword id="6359833" type="ORGANIZATION" weightage="20" keywordseo="Goods-and-Services-Tax">goods and services tax</keyword> (<keyword id="6354679" type="ORGANIZATION" weightage="20" keywordseo="GST">GST</keyword>) is rolled out from July 1. The number of these appliances sold matches with what they sell in the peak festive season around Diwali, with monthly sales increasing 85-90% from the year earlier. The reason behind this jump in sales is the big discounts that these sellers have offered to attract customers and clear their stocks before GST rollout. Expecting a rise in prices of consumer durables after GST, customers went berserk in shopping and the discounts further helped. "It has certainly been a huge month with sales growing 80-90% over the same period last year, considering June is usually a month when consumer durable sales tend to dip," Brian Bade, chief executive at Reliance Retail’s digital formats told <a href="http://economictimes.indiatimes.com/industry/cons-products/electronics/pre-gst-offers-ensure-leading-consumer-electronic-retail-chains-rake-in-the-moolah/articleshow/59344969.cms">ET</a>. Nilesh Gupta, MD of Vijay Sales said that the sales match with that of last year’s Diwali and Dhanteras put together. "However, it's not profitable growth as bulk of the merchandise was sold on discounts," he said.Moreover, the industry would face a slump next month since customers have already purchased what they wanted and those who haven’t would probably postpone buying costlier appliances post GST. (Image source: Global Retailer)

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