'I'm not accepting the 'any act of terrorism is an act of war' threshold.' 'I don't think this is sustainable because if you do this four or five times in a short duration, it will lose its edge.'
While a company spokesperson said Bharti would either dilute its stake or exit the venture, the fund house is trying to rope in a bank to strengthen its distribution network. In addition, an asset management venture is seen to have closer links with banks, which are looking to offer a wide range of financial products.
Bharti Walmart Pvt Ltd will invest over $40 million (around Rs 180 crore) in India by March next year to set up to six new 'Best Price Modern Wholesale' stores to expand presence in the country.
Bharti Retail, owned by Sunil Mittal's Bharti Enterprises, on Wednesday started retail operations in the country with neighbourhood store format, Easy Day, from Ludhiana in Punjab. Bharti has set up three stores in Ludhiana.Bharti has announced plans to invest Rs 10,000 crore (Rs 100 billion) to set up stores across the country by 2012. The company said that it is looking at a retail space of 10 million square feet and employ 60,000 people.
Standard Chartered, Barclays, Citibank, Deutsche Bank are among investment banks that are involved in the process of facilitating investor meets in Asia, Europe and the United States.
Industry leaders on Thursday mourned the death of Ratan Tata saying with his demise India has lost a visionary who shaped its industrial and philanthropic landscape. Tata was a truly remarkable business leader who placed the country before business interests, and whose vision was truly transformational for a country and its people, TVS Motor Co Chairman Emeritus Venu Srinivasan said in a statement. "Mr Tata was a truly remarkable business leader, the likes of whom nations get only once in a century," he added.
Bharti Retail on Friday announced appointments of former head of Walmart India Raj Jain as its CEO and Pankaj Madan, another senior executive of erstwhile joint venture Bharti Walmart, as Chief Financial Officer.
PwC is the auditor of Satyam Computer Services whose founder Ramalinga raju earlier this month admitted to financial irregularities of about Rs 7,800 crore (Rs 78-billion). The newly-inducted board of the company later hired two foreign audit firms -- KPMG and Deloitte Touche Tohmatsu -- to restate the accounts books.
Bharti Retail exuded confidence that it is 'on course' to become a billion dollar company by 2015, and will open 40 more stores in the next three months notwithstanding the economic slowdown.
Bharti Enterprises will kick off its retail venture early next year, opening half-a-dozen stores -- branding of which is still being worked out with its back-end partner Wal-Mart.
Wal-Mart's experience and sourcing skills will help Bharti roll out stores fast and sell at competitive prices.
The Bharti Group will on Monday announce a tie-up with Walmart for its retail operations, under which the world's largest retailer would manage the back end operations.
Sunil Mittal-promoted Bharti Enterprises, offering telecom services, on Wednesday picked up 4.99 per cent stake in private sector Bank of Punjab for a consideration of Rs 24.52 crore (Rs 245.2 million).
India's largest private telecom operator Bharti is eyeing 25 million subscribers in the next two years and expects to close the fiscal with 12 million customers.
Bharti Enterprises vice chairman and managing director Rajan Mittal said most of these will be Easyday stores.
Middle-class Indian consumers should, of course, sit back and watch the action on the shop floor.
The world's largest retail chain, the $446-billion Walmart, is likely to be the first international player to take off in India with its supermarket format. The Bentonville-based US giant is, in fact, ready with a network of 195 stores across India if it decides to extend its back-end and cash-and-carry partnership with Bharti Enterprises to front-end retail.
Sunil Mittal-owned Bharti Group has formed a consortium with Changi Airport of Singapore (a 50:50 joint venture) to bid for the development and management of Delhi and Mumbai airports.
From the Sensex pack, Reliance Industries, Bajaj Finserv, HDFC Bank, Adani Ports, Maruti Suzuki India, Axis Bank, Hindustan Unilever, Sun Pharmaceuticals and Asian Paints were among the laggards. Reliance Industries fell the most by 2.38 per cent to close at Rs 1,171.10 apiece.
Reliance Industries, Tata Chemicals, Bharti Enterprises' Fieldfresh and Indian Oil are among several large companies that have evinced interest in leasing closed sugar mills that the Bihar government is offering, mainly to exploit opportunities to make ethanol to meet mandatory petrol blending norms that were introduced this year.
Investors became richer by nearly Rs 8 lakh crore on Wednesday as benchmark BSE Sensex surged by 740 points amid value buying in utilities and power shares and a strong trend in global markets. The 30-share BSE Sensex surged by 740.30 points or 1.01 per cent to close at 73,730.23.
Bharti Airtel, India's leading private telecom service provider, is keen to acquire a player similar in size to South African giant MTN in the emerging markets to become a global brand, said Akhil Gupta, deputy group CEO and managing director of Bharti Enterprises.
Bharti Airtel, India's leading private telecom service provider, is keen to acquire a player similar in size to South African giant MTN in the emerging markets to become a global brand, said Akhil Gupta, deputy group CEO and managing director of Bharti Enterprises.
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.
Bharti and Wal-Mart JV will be critical for the US giant to study the Indian scenario.
Net flows from domestic institutional investors crossed Rs 5 trillion for the first time during a calendar year.
After ending its wholesale partnership with Walmart, Bharti Retail has decided to merge with the Future group
Former Walmart India head Raj Jain has been roped in as an advisor by the Bharti Group, which on Wednesday parted ways with the US retail giant to operate stores independently in India.
Corporate India's struggle with subdued revenue and earnings growth persisted in the October-December quarter of 2024-25 (Q3FY25). The combined net sales (gross interest earnings for lenders) of listed companies grew in single digits for the seventh consecutive quarter, while their combined net profit rose by a single digit for the third straight quarter.
US retail giant Walmart has asked the government for more time to convert $100 million of debentures held in a Bharti Group unit, an investment that's being investigated for alleged violation of norms.
The company received a fresh equity infusion in 2012-13.
Bharti Enterprises, which has announced join ventures with US giant Wal-Mart for its retail foray, said that the rising real estate prices could hamper the growth of the organised retail industry in the country.
The sale proceeds will be fully utilised to repay debt at Bharti Telecom and will make the promoter holding firm a 'debt free company'.
The country's leading retail chains have raised apprehensions that the collaboration between Bharti Enterprises and Wal-Mart could provide backdoor entry to the world's largest retailer.
Spectrum allocation for satellite services came up as a dominant theme at the launch of 36 communication satellites by OneWeb, a Bharti group venture, here on Sunday. Following the launch, Bharti Enterprises chairman Sunil Mittal, in a conversation with a group of reporters, reiterated that spectrum auction did not make sense in the case of satellite services. "This (satellite services) is not competing with mobile services where you can justify the auction.
Mittal becomes the third business person from India in the history of ICC to be appointed on the ICC Executive Board.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances