Business

Zuber Issa’s EG on the Move plans retail complex including units for start-ups

Published

2 hours ago

8 May 2026

NewsAdmin

Site near M65 would include convenience store ‘bringing footfall to support the other smaller retail units’

Bill Jacobs and Local Democracy Reporter

05:00, 08 May 2026

The EG On The Move head office, in Blackburn(Image: EG On The Move)

Blackburn billionaire Zuber Issa’s EG on the Move company is looking to develop a new shopping complex on grassland off the town’s Haslingden Road.

The firm has identified the 1.3 acre site near the M65 for the scheme. The new retail building is close to the Royal Blackburn Hospital with its staff identified as key potential customers.

EG on The Move has applied to Blackburn with Darwen Council for planning permission for a ‘commercial development of a new 11,000 square foot retail building incorporating a 4,500sqft food retail convenience store and five smaller speculative retail units including the formation of a new access from Haslingden road, customer parking, and delivery area’.

A supporting statement says: “The site is strategically positioned on Haslingden Road (A6077), Blackburn – approximately half a mile from Junction 5 of the M65 motorway.

“To the north is the Royal Blackburn Teaching hospital. To the east is the existing Shadsworth Industrial estate.

“The site consists of a vacant greenfield, infill plot of land.

“The proposal submitted for a small-scale retail development supported by the surrounding residential areas and proximity to the hospital and wider industrial areas.

“The intention is to create a small, primarily food, retail convenience store as an anchor to the site bringing footfall from the residential areas and hospital to support the other smaller retail units.

“The small retail units would be ideal for smaller start-up businesses from the local area.

“The building is set back from Haslingden Road and positioned centrally within the site. This allows for the creation of a new vehicular access and the formation of a car park for visitors.

“The development will also create a new three-metre-wide footpath and cycleway along the Western edge connecting Whinney Heights to the proposed development and Haslingden Road. This will be a huge benefit to the local community.

“The development will initially be constructed speculatively to a shell standard. Internal layouts and fitout will be dictated by the specific tenant.

“Office, storage and staff facilities will be positioned at the rear of the unit with display and retail function at the front making use the glazed front elevation.

“Careful consideration was given to the Whinney Heights residential area and neighbouring Queens Lodge nursing home.

“Landscaping treatments and acoustic boundaries will mitigate the impact on the neighbours.

“The building has been designed to create a contemporary and inviting retail aesthetic.

“The primary elevation is mostly glazed creating shop front displays and familiar retail access.

“It is proposed that a new priority right turn lane will be created on Haslingden Road alongside the formation of a new vehicular access point – 50 car parking spaces are to be provided.

“The intended retail function will provide positive amenities for local residents, commuters, employees in the surrounding employment areas and the Royal Blackburn Hospital.”

Last week, EG On The Move acquired independent petrol forecourt operator MPK Garages.

To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.

Business

Shakti Pumps shares tumble 7% as Q4 profit drops 65% YoY

Published

4 minutes ago

8 May 2026

NewsAdmin

Shakti Pumps shares tumble 7% as Q4 profit drops 65% YoY

Shares of Shakti Pumps tumbled 6.77% to Rs 555.15 during Friday’s trading session after the company reported a sharp decline in profitability for Q4FY26, even as revenue posted healthy growth.

On the operational front, revenue from operations rose 28.9% YoY to Rs 857.8 crore, up from Rs 665.3 crore, indicating strong business momentum. However, rising costs significantly impacted margins.

EBITDA dropped 49.2% to Rs 83.2 crore from Rs 163.9 crore a year ago, while EBITDA margin narrowed sharply to 9.7% from 24.6%, marking a contraction of 14.9 percentage points.

The company’s PAT margin also weakened considerably, falling to 4.5% from 16.6%, down by 12.1 percentage points YoY. Meanwhile, basic EPS slipped 66.3% to Rs 3.1 against Rs 9.2 in the year-ago quarter.

Despite the muted earnings performance, the board recommended a final dividend of Rs 1 per equity share (10% of face value Rs 10 each) for FY26, subject to shareholder approval at the upcoming AGM.

Stock performance and valuation

Shakti Pumps shares have fallen nearly 36% over the past year, with the company’s market capitalisation currently at around Rs 7,347 crore.
At current levels, the stock trades at a P/E ratio of 21.46, a Price-to-Sales ratio of 4.68, and a Price-to-Book ratio of 6.09.
From a technical perspective, the stock’s 14-day RSI stands at 64.2 — approaching overbought territory but still below the 70 mark. The stock also remains under pressure on moving averages, trading below 5 out of 8 key SMAs, signalling a bearish undertone.

Also read: BSE shares fall 3% despite Q4 profit surge. Should you buy, sell or hold India’s oldest stock exchange?

Institutional investors reduce exposure

Institutional sentiment remained weak during the March 2026 quarter. Foreign Institutional Investors (FIIs) reduced their stake in the company from 5.34% to 4.83%, while mutual funds cut holdings from 6.18% to 4.92%, reflecting cautious positioning by large

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)