Automobile retail sales rose nearly 18 per cent year-on-year to over 27 lakh units in January, led by continued post-GST momentum, healthy rural cash flows on the back of harvest and weddings, and sustained demand visibility across freight, dealer's body FADA said on Tuesday.
Non-metro cities drove this year's online Diwali shopping boom, accounting for nearly three-quarters of total e-commerce volume, with tier 3 cities contributing over 50 per cent, according to industry data. As per the industry data analysis of over 4.25 crore shipments by logistics intelligence platform ClickPost, these regions now represent the fastest and largest drivers of festive e-commerce, solidifying non-metro India's role as the epicentre of order volumes and growth.
The Competition Commission of India (CCI) on Tuesday said it has approved Reliance Retail Venture's acquisition of German firm Metro AG's wholesale operations in India. Reliance Retail Ventures Ltd (RRVL) is a subsidiary of Reliance Industries Ltd (RIL) while Metro Cash & Carry India is engaged in the wholesale operations in India. In December last year, it was announced that RRVL had signed definitive agreements to acquire a 100 per cent equity stake in the company for a total cash consideration of Rs 2,850 crore.
Reliance Industries Ltd will acquire German firm Metro AG's wholesale operations in India for Rs 2,850 crore as the conglomerate run by billionaire Mukesh Ambani seeks to strengthen its dominant position in India's mammoth retail sector. "Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Ltd, signed definitive agreements to acquire a 100 per cent equity stake in Metro Cash & Carry India for a total cash consideration of Rs 2,850 crore, subject to closing adjustments," said a joint statement. Through this acquisition, Reliance Retail will get access to a network of Metro India stores located in prime locations across key cities, along with a large base of registered kiranas and other institutional customers, and a strong supplier network.
Three business houses are likely to be in the final race to strike a deal with Germany's Metro AG for investing in its India unit -- Metro Cash & Carry. Industry sources in the know named Reliance, Adani Group, and Thailand's conglomerate Charoen Pokphand (CP) as potential frontrunners to acquire a partial or full stake in the Gurugram-headquartered Metro Cash & Carry, which has 31 stores and 5,000 direct employees. Around 20 companies, including strategic and private equity investors, were approached by the German chain, inviting them to bid for the Indian wholesale business, according to a source aware of the M&A developments.
Online play is a priority now -- so far unthinkable in a business that's all about a meaningful interface with kirana stores.
Despite slowdown, corporates are investing heavily in advertisements not just in Kolkata but also in other metros.
Rediff.com brings you some of the best-captured photos of Delhi, like you have never seen it before.
After Bengaluru, where the Congress lost out to the Bharatiya Janata Party after five decades of dominance, and Mumbai where it failed to wrest the cash rich Brihanmumbai Municipal Corporation from the Shiv Sena, it is now the turn of New Delhi to show its disenchantment with the Congress, writes Neerja Chowdhury
Take a journey through the Dubai's Metro rail and India's big-budget Metro rail projects.
"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.
How many of the 319 films Aseem Chhabra watched in 2018 have you seen?
Customer insight drives the online fashion retailer to launch 'mood' stores, rethink the way it sells its wares.
Prime Minister Narendra Modi enjoys a close relationship with Shinzo Abe. For Abe, "a strong India is in the best interest of Japan, and a strong Japan is in the best interest of India."
Men and women from mofussil India are buying designerwear either on their laptops or their cellphones.
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