The net worth of India's richest man, Mukesh Ambani, dropped 28 per cent, or USD 300 million a day for two months to USD 48 billion as on March 31 due to the massive correction in stock markets, a report said on Monday. The chairman and managing director of the diversified Reliance Industries saw his wealth decline by USD 19 billion (app Rs 144,400 crores) in the February-March period, taking his global ranking down eight places to 17th, the Hurun Global Rich List said.
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.
Bangalore-based Smriti Subs was first scouted when she was 13.
Priyanka Chopra returns to the party where she met Nick Jonas!
Observing that there is liquidity overhand of Rs 13 lakh crore in the system, RBI Governor Shaktikanta Das said on Friday that the exceptional measures undertaken during pandemic will be dealt in sync with macroeconomic developments to preserve financial stability. Since the onset of the pandemic, the Reserve Bank has maintained ample surplus liquidity to support a speedy and durable economic recovery, he said while announcing the outcome of the Monetary Policy Committee (MPC) meeting. The level of surplus liquidity in the banking system increased further during September 2021, with absorption under fixed rate reverse repo, variable rate reverse repo (VRRR) of 14 days and fine-tuning operations under the liquidity adjustment facility (LAF) averaging Rs 9 lakh crore per day as against Rs 7 lakh crore during June to August 2021, he said.
Over 10 Indian start-ups with total valuations of $84 billion (some are planning fresh fund-raising) are bracing to launch initial public offerings (IPOs) in the next 36 months. While the size of their IPOs is under discussion, estimates are that they would together raise a minimum of over $8-10 billion during the initial listing.
The store segmentation approach that Shoppers Stop is taking is intended to improve its hit rate at a time when local and international fashion retailers are crowding the market with new merchandise across price points.
Fresh capital will help Flipkart further grow its e-commerce marketplace in India as the world's second-largest internet market begins to recover from the COVID-19 crisis.
Do away with the grey, and let us have it in black and white. That's the message the Advertising Standards Council of India (ASCI) has for digital media influencers. ASCI has brought out draft guidelines for "influencer advertising on digital media", an expanding and so far unmonitored landscape where the lines between personal and promotional content is often blurred. The self-regulatory body wants social media influencers to disclose upfront - through labels or in the case of audio media, by way of an announcement at the beginning and the end of the audio - that the content is promotional and paid for.
Jennifer Lopez graced the cover of GQ's 2019 Men of the Year issue and the Internet can't get over it.
Reliance has announced that it will roll out its e-commerce platform to as many as 1.2 million retailers and store owners in Gujarat. This is part of a nationwide roll-out that will come later this yea, reports Viveat Susan Pinto.
Reliance Retail Ventures Ltd, run by India's richest man Mukesh Ambani, on Tuesday raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA), taking the total fundraise to Rs 37,710 crore in less than four weeks.
As billions of dollars flow into India's booming online economy, some investors are beginning to fret that soaring valuations could hamper market listings.
'The prospect is of a self-confident and self-sustaining India will make it a more effective player in the global arena,' External Affairs Minister Dr Subrahmanyam Jaishankar points out delivering the Sardar Patel Lecture-2020: India and the Post-Covid World.
GenNext designer Akshat Bansal believes Indians are finally ready to experiment with fashion and look for individuality.
Their startup investments number 13 so far, compared to 17 deals in 2020.
B-town's favourite designer's fashion label is celebrating 10 years.
Why millennials are choosing silver over gold this Valentine's Day.
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.
To create a community, the consumer can share the details of the offer with friends and family who want to buy the same goods.
'India has many attractive features for the long-term investor; it combines: A low per capita income, a young population, and a heavier presence of high margin, asset-light firms in the technology sector.'
'There are some high-frequency indicators where uptick is visible and some where it is not'
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 12 per cent rise in December quarter net profit on improving oil-to-chemical business, strong continued momentum in retail and steady telecom unit Jio.
US private equity firm Silver Lake Partners will invest an additional Rs 1,875 crore in the retail arm of Reliance Industries, the Indian firm said in a statement on Wednesday.
The attached assets include 15 commercial and residential properties belonging to the 'family members' of Mirchi. They include a hotel called Midwest Hotel Apartment, the ED said. They are valued at Rs 203.27 crore and have been provisionally attached under the Prevention of Money Laundering Act (PMLA), the central probe agency said in a statement.
American brands top the domestic retail space with 30 per cent share, especially in the food & beverages sapce, while the Italian and British labels dominate the luxury segment.
This is the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
If Walmart is spinning success stories of Indian manufacturers in global markets, Amazon is taking 'Make in India' to the world, bolstered by its 'Global Selling Programme'
Bollywood stars up their fashion game for the first Vogue Women of the Year Awards.
A burst of colour and embroidery inspired by the ripples of water defined Arpan Vohra's collection on DayThree of Lakme Fashion Week.
China said it took the decision after it found no objection to the listing proposal by the United States, the United Kingdom and France following a careful study of the revised materials
The Vogue Woman of the Year Awards red carpet was lit with celebs showing up in their glamorous best.
he immunity built from the vaccine does little to stop it from transmission, warns Dr Raj Agarwal. You may harbour the virus as a carrier, and be a source of infection to others who are less fortunate and haven't got a chance to get vaccinated yet.
Audi Q7 SUV and Range Rovers are the sought after
Aus PM congratulates UK's Johnson on dramatic Ashes win
UNICEF India has teamed up with social media influencers to raise awareness about menstrual hygiene.
The Indo-American Arts Council's mission to promote Indian-origin artists in the US translated into a fashion show featuring several prominent personalities in New York on April 15. Take a look.
23 Yards will include body wash, beard oil, shaving gel, deodorant and sanitizer.
They have their unique style mantras and an attitude to go with them.
The deal that promises to make Flipkart a leading force in fashion segment - estimated at Rs 3 lakh crore - came after hectic weekend parleys.
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