Government to examine whether rules and regulations were adhered to in the Bharti-Wal-Mart retail deal, says Commerce Minister Kamal Nath.
Mukesh Ambani has raced ahead of Gautam Adani to become the richest Indian on a list of wealthiest people in the country. The 66-year-old chairman of the diversified Reliance Industries saw his wealth growing by a marginal 2 per cent to Rs 8.08 lakh crore, while Adani's fortune plummeted by 57 per cent to Rs 4.74 lakh crore, as per the 360 ONE Wealth Hurun India Rich List 2023. Anas Rahman Junaid, managing director and chief researcher at Hurun, attributed the decline in Adani's wealth to the Hindenburg report published in January. In January,
Meet the winners of the Filmfare OTT Awards 2023.
In a letter dated November 30, the PMO asked the commerce ministry to prepare a detailed note on the venture, in the anticipation that it would come up for discussion in Parliament.
Reliance Industries Limited is the country's most valued firm with a m-cap of Rs 9,17,953.13 crore followed by TCS Rs 8,04,980.33 crore.
The big question, however, is if it can sustain its business model as it grows and expands.
The big question, however, is if it can sustain its business model as it grows and expands.
In the subcontinent, Wal-Mart is aiming for slow and steady growth.
The city government will bring an amendment to the APMC Act for facilitating direct purchase of produce from farmers.
WalMart International President and CEO Doug McMillon said in Davios that the Indian government's concerns over allowing foreign direct investment in multi-brand retail were misplaced.
US retail giant Wal-Mart, which has signed a joint venture with the Bharti Group for wholesale cash and carry business, will restrict itself to technical support and training in Sunil Mittal firm's foray into retail.
Consumer durables firms and fashion retailers expect double-digit growth in value terms in the ongoing festival season as consumers have stepped up purchases during this period. They expect to see value sales growth upwards of 15 per cent, which is especially coming in from cities. However, volume growth may lag behind value growth.
The joint-venture's first wholesale store is expected to be opened by the end of 2008, Wal-Mart India President (Operations) Raj Jain had said.
Reliance Retail Ventures Ltd (RRVL) is discussing a three-pronged plan that includes an additional divestment of $250-300 million this year, apart from what it has diluted in favour of the Qatar Investment Authority (QIA) and US-based private equity fund KKR recently.
Chairman and CEO of Bollywood Group Kamal Dandona said on Wednesday that he expects leading film makers and artistes to attend the award function which will he held in New York on May 26.
Flipkart, the e-commerce company owned by Walmart, is intensifying its efforts to achieve profitability as it is eyeing a valuation of approximately $60 billion at the time of its initial public offering (IPO), now planned in 2025-2026, instead of this year, according to people familiar with the matter. The firm might consider listing in the US or any other geography, including India. The company, which counts the likes of Amazon and Reliance's JioMart among its competitors in India's burgeoning e-commerce market, had also contemplated launching an IPO in 2022-2023.
"The entry of other players in this segment will help in reiterating the benefits of the cash-and-carry concept to Indian customers," Metro India Managing Director Martin Dlouhy says. It may be the first time anywhere in the world that Wal-Mart and Metro square off in the cash & carry format. Dlouhy's apparent nonchalance can't hide the fact that Metro may be facing one of its most difficult challenges in the country.
Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
'With this revamp the anonymous journey of the user will begin wherein he will not have to sign in every time he accesses the app.'
Sukanya Verma quizzes you to find out just how much you know about the movies.
The UK Health Security Agency said EG.5.1, which has been nicknamed Eris, makes up one in seven new COVID cases.
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Bharti Group's retail venture in partnership with the world's biggest retailer Wal-Mart is going to be a low-key affair with its launch planned in phases over a period of time.
Wal-Mart and other retailers lobbied for years to gain access to India's market, lured by the promise of a middle class that will one day rival China's.
Extraordinary award-winning photographs from more than 20,000 images from all over the world.
Reliance Industries' (RIL's) retail arm, Reliance Retail, is now valued at nearly twice the amount of its decades-old and lucrative oil-to-chemical (O2C) division. Bernstein's latest report on the conglomerate projects a valuation of $112 billion for its retail business, dwarfing the $57 billion valuation of its O2C division. In addition, the research firm valued Jio Platforms, the company's telecom arm, at $77 billion and the renewable energy business at $17 billion.
Deepa Gahlot picks 10 Web series that was worth the viewer's while.
The initial public offering (IPO) market has seen some momentum of late with robust responses to recent issues. However, only some have been able to ride the wave. So far in 2023, 23 companies have let their approval granted by the markets regulator - the Securities and Exchange Board of India (Sebi) - lapse.
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Carnival group buys project in Chandigarh from L&T for Rs 1,785 cr.
Global investment management firm Bernstein has pegged the enterprise valuation of Reliance Industries (RIL)'s 85 per cent stake in Reliance Retail at $111 billion, while valuing the Mukesh Ambani-led company's 66.5 per cent stake in telecom and digital platform arm Reliance Jio at $88 billion. Reliance Industries had earlier planned to list both its subsidiaries to unlock value for its shareholders but hadn't fixed any timeline. The report said that Reliance Retail had raised $6 billion by diluting a 10.1 per cent stake, while Jio Platforms raised $20 billion from investors by selling 33 per cent in 2020.
Eight persons were charred to death and three others seriously injured in a fire that broke out in three timber scrap godowns in the powerloom town of Bhiwandi near Thane, police and fire officials said.
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