Moneycontrol Bureau
Shares of Tribhovandas Bhimji Zaveri (TBZ) gained 4.4 percent intraday Monday on signing franchise agreement for its upcoming store in Ranchi, Jharkhand.
The company says this would be third franchise store of TBZ.
"Going forward, the company will be adopting a mix of company-owned stores and franchise stores to expand its domestic operations. The major part of expansion will be done through addition of franchisee stores. This will enable the company to increase its geographical footprint and help in improving return ratios," it explains.
With addition of three stores since October, currently it has 30 stores in 10 states.
At 14:56 hours IST, the scrip of Tribhovandas Bhimji Zaveri was quoting at Rs 105.50, up Rs 1.50, or 1.44 percent on the BSE.Posted by Sunil Shankar Matkar
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