Metro Brands

It is expected to support its rich valuations

Footwear retail chain Metro Brands Ltd has reported an increase of 11.19 per cent in consolidated net profit at Rs 112.99 crore for the third quarter ended December 2022

According to the technical analyst from Anand Rathi, Metro Brands can rally to Rs 910; while Bayer Cropscience can surge to Rs 5,200.

Relaxo lags behind peers in the quarter, given demand weakness, price cuts, and higher input costs

Footwear retail chain Metro Brands has signed a share purchase agreement to acquire 100 per cent shareholding of Cravatex Brands to expand its presence in the sports and athleisure space in India, a regulatory filing said on Wednesday. BSE-listed Cravatex Brands is a retail, brand licensing, distribution and sourcing company that has the exclusive long-term license for the Italian sportswear brand FILA, owns sportwear brand Proline, and represents other international brands. The acquisition is based on fulfilment of closing conditions by both parties. Paragon Partners, an existing investor in Cravatex Brands Limited, will also sell its entire stake as part of this transaction, Cravatex said in the filing. "This acquisition fits our strategic vision at Metro Brands Ltd to leverage our expertise in brick and mortar and e-commerce retail while serving the growing need of the consumer in the sports and athleisure category. "We are truly committed to our vision to be India's largest ...

Union Minister Piyush Goyal on Friday said India's footwear sector has immense potential, and it can increase production and exports 10 times in the near future.

Going forward, the growth momentum is expected to pick up and the footwear sector is estimated to reach Rs 1.4 trillion by FY 2024-25

Among individual stocks, Liberty Shoes has witnessed a 'Golden Cross' on the daily chart, and can potentially rally up to 15 per cent.

Zomato and Metro Brands may see an upside of up to 32 per cent, while JSW Energy, Kensai Nerolac, and Hikal could surge up to 11 per cent.

Among the firms in his portfolio, Aptech shares dipped 0.04 per cent to settle at Rs 232.65 on BSE after falling 5.92 per cent to Rs 218.95 during the day.

Metro Brands hit a new high of Rs 857, gaining 5 per cent on the BSE in Friday's intra-day trade

Metro Brands reported a consolidated net profit of Rs 105.78 crore, while revenue grew 3.5-fold in the June 2022 quarter.

The company had posted a net loss after tax of Rs 12.13 crore during the January-March quarter last year, Metro Brands Ltd said in a regulatory filing.

Traffic at its stores impacted due to restrictions in third wave

Analysts said the allotment made to anchor investors by these two companies was relatively low which helped prevent any intensive selling pressure

Metro Brands surged 20 per cent to hit a new high of Rs 608.20 on the BSE in Monday's intra-day trade, up 22 per cent from its issue price of Rs 500 per share.

Traders and Investors need to be cautious about the shift in trend, whenever vital supports are violated, it is time to be watchful.

HDFC Bank and HCL Technologies are likely to react to Q3 numbers this morning. While the former reported 18 per cent YoY growth in net, the latter too beat Street expectations.

Footwear retail chain Metro Brands has reported a 54.63 per cent jump in consolidated net profit to Rs 100.85 crore for the third quarter ended December 2021. The company had posted a net profit of Rs 65.22 crore during the October-December quarter of the previous fiscal, Metro Brands Ltd (MBL), earlier known as Metro Shoes, said in a regulatory filing. Its total revenue from operations was up 59.02 per cent at Rs 483.77 crore during the quarter under review against Rs 304.21 crore in the corresponding period of the previous fiscal. MBL's total expenses rose 47.26 per cent to Rs 362.59 crore in Q3 FY 2021-22, compared to Rs 246.21 crore in the year-ago period. MBL CEO Nissan Joseph said it was the best quarterly revenue, EBITDA and PAT in the history of the company. "We also are encouraged by the growth we have witnessed across the multiple Tiers of cities that we operate in and the continued growth of our e-commerce and omnichannel business," he added. As of December 31, 2021, M

Consolidated revenue from operations rose 59% to Rs 484 cr