Billionaire Mukesh Ambani-run Reliance Industries Ltd's retail arm on Thursday raised Rs 9,555 crore from Public Investment Fund (PIF) of Saudi Arabia, taking total fundraise in the last two months to Rs 47,265 crore. PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement. The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of Rs 4.587 lakh crore.
The first half of the year (H1-2020) was marked by sluggish growth with demand down 26 per cent YoY, while the second half saw recovery. H2-2020 recovered with 19 per cent YoY growth, reports Shivani Shinde.
The liquidity-fuelled rally will continue for some time, however, fundamentals are getting stretched.
Maruti Suzuki, Hyundai, Mahindra and Toyota reported low single-digit sales growth for the month owing to weak market sentiment
After 2 years of lull, sale of winter products like heaters and woollens grow in double-digit
Indian PC shipments for the third quarter of CY21 touched a total of 4.5 million, making it India's biggest-ever single quarter. To put this in perspective, it is bigger than the total yearly consumer shipments in 2019, a year before the pandemic hit. As a result, many brands also reported their biggest quarter of PC shipments.
The US-based company, in collaboration with partners like Wistron and Foxconn, had recently started assembling iPhone 11 in India.
Car deliveries during the nine-day period saw sharp year-on-year (double-digit increase for most automobile companies.
SBI was the top gainer in the Sensex pack, surging around 8 per cent. Tata Steel, Bajaj Finance, HDFC Bank, NTPC, Axis Bank and ICICI Bank also ended with firm gains. On the other hand, TCS, HUL, Bajaj Auto and Infosys were among the laggards.
Car sales likely to touch record 3-mn mark by the end of March.
Abu Dhabi-based sovereign wealth fund Mubadala Investment Co will invest Rs 6,247.5 crore to buy a 1.4 per cent stake in Reliance Industries Ltd's retail arm -- the billionaire Mukesh Ambani-led firm's third such deal in less than two days.
The BS-VI norms are expected to increase the price of two-wheelers by 10-14 per cent.
With multiple options in the compact sport utility vehicle (SUV) and compact sedan space, the mid-size sedan seems to be losing its charm among customers.
Plus size models tell us how they took charge of their lives and turned their dreams into reality.
What will it take for Tesla to plug and play in India? Sector pundits say it's a mix of strategy, getting the price right, timing, the right talent, and above all, patience.
Exchanges will have to facilitate a more direct interface between clients and the clearing corporation, bypassing intermediaries such as brokers, under this new proposed framework.
ITC's noodle brand has been caught in the Maggi crossfire.
Investment by US PE firm KKR will add fire to Ambani's battle for dominance in the retail market that is also being eyed by Jeff Bezos' Amazon and Walmart's Flipkart.
The deal, as well as some other strategic and financial investments in works, will help Ambani cut debt at RIL.
RIL has faced protests from local authorities, activists and residents across India campaigning against masts and roadworks.
The proposed reorganisation plan by Reliance Industries Ltd to transfer its refining, marketing and petrochemical (oil-to-chemicals) businesses to a wholly-owned subsidiary is a step towards facilitating participation by strategic investors in the unit, Fitch Ratings said on Tuesday. The reorganisation of the business in Reliance O2C Limited (O2C) "will have a neutral impact on RIL's credit metrics and rating," it said in a statement. The transfer will be on a "slump sale basis", subject to attaining the requisite approvals.
The first leg of the 35-day festive period, which ended with Dussehra, failed to bring any cheer for auto companies. While makers of passenger vehicles struggled to meet demand due to the persistent shortage of semiconductors, a recovery in demand remained elusive for two-wheeler manufacturers despite offers and schemes. The overall season, which ends two days after Diwali, is unlikely to bring any turnaround in either the supply or the demand scenario, said dealers and officials at auto companies.
Rising prevalence of work-from-home and e-learning is driving sales of notebooks and tablets for most brands, but Apple's superior performance has more to do with its product quality.
The good news for PepsiCo is that the foods segment has normalised much faster to pre-pandemic levels than beverages.
Although Walmart-Flipkart wholesale game-plan is to target about a $150 billion market out of a total pie of $700 billion in the country, the consolidation marks the end of the multi-brand dream of the American retail giant.
BS-VI emission norms and the COVID-19 lockdown impacted the dispatches.
Most of the hirings are, however, in the entry or junior level.
A century-old European bicycle brand gets a makeover under its new Indian owner. But is there room for yet another premium commuter bike?
Banking technology start-up Zeta is the latest entrant to the unicorn club after raising $250 million in its Series C round from SoftBank Vision Fund 2. Sodexo participated as an additional minority investor in the round. Founded by serial entrepreneur and billionaire Bhavin Thurakia, the startup is now valued at $1.4 billion. It is the 14th company this year to cross the $1 billion valuation mark after Meesho, Cred, Pharmeasy, ShareChat, Moglix and others.
The police in Jalaun have identified nine more victims, including seven minors, on the basis of data recovered from a laptop and other devices seized from an expelled Bharatiya Janata Party office-bearer arrested on charges of sexually exploiting two children, an official said.
'We have filed our draft red herring prospectus for a floating IPO for a net offer size of 86.6 million shares.'
Experts are of the opinion that though the second half of this financial year will see some recovery, volume growth is likely to remain in single digit as compared to the double-digit rise recorded in past years.
The government said that far from targeting any US entity, the purpose was to ensure fairness, healthy competition, and to exercise the ability of governments to tax businesses having a nexus with the Indian market through digital operations.
Cumulative sales of India's top passenger vehicle makers -- Maruti Suzuki, Mahindra and Mahindra, Tata Motors, Honda Cars, and Toyota Kirloskar -- increased to 206,418 units in February over 200,322 units in the same month last year, an increase of 3 per cent.
A hallmark of some new businesses today is that they seek to use the brute force of capital, combined with smart technology and operations, to create new needs that you didn't even know existed, the chairman of Aditya Birla group said in a blog post on the trends for the new year.
The key beneficiary of this expansion in the motorcycle market happens to be Bajaj Auto.
The Fortune's 40 under 40 list for this year was topped by Adam Neuman, Co-founder and CEO, WeWork.
Billionaire Mukesh Ambani's Reliance Industries has announced the contours of carving out of its oil-to-chemicals (O2C) business into an independent unit with a USD 25 billion loan from the parent, as it looks to unlock value by selling stakes to global investors like Saudi Aramco.
Apart from fulfilling banking services, one can access more than 100 e-commerce sites, book tickets, and even pay for small value groceries through the app. The bank is now proposing to allow other banks to use this to serve their own customers.
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