Net loss of Baazar Style Retail reported to Rs 0.39 crore in the quarter ended June 2024 as against net profit of Rs 5.52 crore during the previous quarter ended June 2023. Sales rose 21.09% to Rs 275.71 crore in the quarter ended June 2024 as against Rs 227.69 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales275.71227.69 21 OPM %15.2414.99 - PBDT31.0924.64 26 PBT10.167.62 33 NP-0.395.52 PL Powered by Capital Market - Live

Baazar Style Retail has opened two new stores of Style Baazar one at Badarpur, Assam and another at Jalpaiguri, West Bengal today. With this the total number of stores as on date stands at 179. Powered by Capital Market - Live

Baazar Style Retail will hold a meeting of the Board of Directors of the Company on 25 September 2024.Powered by Capital Market - Live

The domestic equity indices ended with major losses on Friday. The Nifty closed near the 24,850 mark after hitting the day's high of 25,168.75 in early trade. All the sectoral indices on NSE were ended in the red with PSU bank, oil & gas and bank shares declining the most. As per provisional closing data, the barometer index, the S&P BSE Sensex, tanked 1,017.23 points or 1.24% to 81,183.93. The Nifty 50 index dropped 292.95 points or 1.17% to 24,852.15. In the broader market, the S&P BSE Mid-Cap index fell 1.41% and the S&P BSE Small-Cap index declined 0.96%. The market breadth was weak. On the BSE, 1,414 shares rose and 2,532 shares fell. A total of 88 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 6.49% to 15.13. New Listing: Shares of Baazar Style Retail closed at Rs 399.65 on the BSE, representing a premium of 2.74% as compared with the issue price of Rs 389. The scrip was listed at Rs 389, matching the issue price. The stock has hit a high of 430.95 and a low of 378.15. On the BSE, over 22.29 lakh shares of the company were traded in the counter. IPO Update: The initial public offer (IPO) of Shree Tirupati Balajee Agro Trading Company received 21,35,75,940 bids for shares as against 1,43,08,000 shares on offer, according to stock exchange data at 15:20 IST on Friday (6 September 2024). The issue was subscribed 14.93 times. The issue opened for bidding on Thursday (5 September 2024) and it will close on Monday (9 September 2024). The price band of the IPO is fixed between Rs 78 to 83 per share. An investor can bid for a minimum of 180 equity shares and in multiples thereof. Buzzing Index: The Nifty PSU bank fell 1.69% to 6,878.90. The index declined 1.79% in the two consecutive trading sessions. Bank of Baroda (down 2.91%), Indian Bank (down 2.65%), Canara Bank (down 2.41%), Punjab & Sind Bank (down 2.32%), Punjab National Bank (down 2.24%), UCO Bank (down 1.32%), Indian Overseas Bank (down 1.29%), Central Bank of India (down 1.14%), State Bank of India (down 1%) and Bank of India (down 0.8%) slipped. Stocks in Spotlight: Vodafone Idea slumped 10.93% after the foreign broker forecasted a potential downside of over 80% for the telecom stock. The foreign broker has maintained a 'Sell' rating on Vodafone Idea, revising its target price marginally upward to Rs 2.50 per share from Rs 2.20 previously. Dr Reddy's Laboratories shed 0.37%. The pharma major announced that it has received the establishment inspection report (EIR) from the United States Food & Drug Administration (USFDA) for its API manufacturing facility (CTO-6) in Srikakulam, Andhra Pradesh. Angel One slipped 3.92%. The company announced that its client base jumped 62.9% to 26.65 million in August 2024 as against 16.36 million recorded in August 2023. Godfrey Phillips India surged 10.07% after its board scheduled to meet on Friday, 20 September 2024 to consider the issue of 2 bonus equity shares for every 1 existing equity share (2:1) by capitalization of reserves. Sun Pharmaceutical Industries rose 0.24%. The company and Moebius Medical said that the United States Food and Drug Administration (USFDA) has granted Fast Track Designation (FTD) to its MM-II (large Liposomes of DPPC and DMPC) for treatment of osteoarthritis knee pain. L&T Finance slipped 2.87%. The company said that it has allotted 17,500 listed, secured, rated, redeemable, non-convertible debentures having face value of Rs 1 lakh each, aggregating to Rs 175 crore, through private placement basis. Matrimony.com shed 0.39%. The matchmaking services provider announced that its board has approved a share buyback of up to Rs 72 crore at a price of Rs 1,025 per equity share through tender offer route. Strides Pharma Science advanced 1.11% after its step-down wholly owned subsidiary, Strides Pharma Global Pte, Singapore, received US Food & Drug Administration (USFDA) approval for Theophylline Extended-Release tablets. VA Tech Wabag added 1.48% after the company announced that it has bagged a mega order worth $317 million (approximately Rs 2,700 crore) from the Saudi Water Authority (SWA). KEC International rose 0.73% after the company secured new orders of Rs 1,423 crore for design, supply and installation of 380 kV transmission lines in Saudi Arabia. Global Markets: European stock declined while Asian stocks ended lower on Friday as investors shifted their focus to the upcoming U.S. payrolls report. The report is expected to shed light on the potential magnitude of a rate cut by the Federal Reserve later this month. Japan's household spending data for July rose 0.1% in real terms from the previous year as compared to a 1.4% fall in June. Data from the Japan's statistics bureau said the average household monthly expenditure for July 2024 was 290,931 yen ($2,031.35), up 3.3% in nominal terms from the previous year. Hong Kong's markets will be shut today due to Super Typhoon Yagi. Overnight in the U.S., all three major indexes declined amid ongoing concerns about the economic outlook. The S&P 500 fell by 0.3%, extending its losing streak to three days, while the Dow Jones Industrial Average dropped 0.54%. However, the tech-heavy Nasdaq Composite managed a modest gain of 0.25%. Adding to the economic uncertainty, ADP reported that private sector job growth in August was the weakest in over three and a half years. Companies hired only 99,000 workers, falling short of both the downwardly revised July figure and market expectations. This marked the weakest month for job growth since January 2021, according to data from the payrolls processing firm.Powered by Capital Market - Live

The scrip was listed at Rs 389, matching the issue price. So far, the stock has hit a high of 416.95 and a low of 378.15. On the BSE, over 9.36 lakh shares of the company were traded in the counter so far. The initial public offer (IPO) of Baazar Style Retail was subscribed 40.66 times. The issue opened for bidding on 30 August 2024 and it closed on 3 September 2024. The price band of the IPO was fixed between Rs 370 to 389 per share. The IPO comprised fresh issue of equity shares worth up to Rs 148 crore and an offer for sale of 1,76,52,320 equity shares aggregating up to Rs 686.68 crore by existing shareholders. Of the net proceeds from the fresh issue, Rs 146 crore will be used for the prepayment or repayment of certain outstanding borrowings, with the remaining amount allocated for general corporate purposes. Ahead of the IPO, Bazaar Style Retail on Thursday, 29 August 2024, raised Rs 250.10 crore from anchor investors. The board allotted 64.29 lakh shares at Rs 389 each to 28 anchor investors. Bazaar Style Retail is a fashion retailer operating in West Bengal and Odisha, holding 3.03% and 2.22% market share respectively. Its offerings can be bifurcated under the apparels and general merchandise verticals. In FY24, Apparel segment contributed 83.89% to revenue and general merchandise segment 16.11%. The company has the largest retail footprint in Eastern India compared to other listed value retailers in Fiscal 2024. As of 31 March 2024, it operated 162 stores across more than 1.47 million square feet in 146 cities. The majority of its stores are operated under the brand name 'Style Bazaar'. The firm reported a consolidated net profit of Rs 21.94 crore and sales of Rs 972.88 crore for the twelve months ended on 31 March 2024. Powered by Capital Market - Live