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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The party also dismissed as 'absolutely false' the claim that Young Indian Ltd, the company formed in the wake of financial troubles concerning Associated Journals Ltd, was a 'real estate company'.
Company has submitted before the court that the plaintiff is attempting to attach property that falls outside of the jurisdiction of the court
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Looking to put money in aviation, infrastructure and also to reduce debt of group companies.
The stage is set for the inaugural edition of the Global Chess League to get underway in Dubai.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
On Friday, shares of Tata Motors rose by 2.68 per cent and Tata Steel went up by 1.85 per cent on the Bombay Stock Exchange.
India's first escalator, its shortest elevator, a terror attack, a rescue operation -- the building's seen a lot.
Mistry is not the first Tata bigwig to be ousted and Tata is not the only big name which saw a doyen or two leave
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Sanket Pandya, one of the two engineers left stranded in Iran since December 2013, has urged the Indian government to facilitate their early and safe return after the duo were illegally 'confined' following the seizure of their passports when their Goa-based employer got embroiled in a dispute with a company there.
The BSE Midcap ended up 0.5% while the Smallcap index ended nearly 1% higher
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Bird Group's executive director Ankur Bhatia died on Friday at the age of 48 following a massive cardiac arrest.
The government has notified the agreement between Air India and special purpose vehicle AIAHL for the transfer of non-core assets, ahead of the national airline's takeover by the Tata Group. The government had in October last year, inked the share purchase agreement with the Tata Group for the sale of national carrier Air India for Rs 18,000 crore. The Tata Group is expected to take full control of the airline, it founded in 1932, on Thursday. The cash component of the deal would come once the handover process is completed. The Tata Group would pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt.
During the checks on the Cessna aircraft registered with Business Jets India, the DGCA found that the pilots in command did not have necessary training certificates.
Few people know Ratan Tata as well as R K Krishna Kumar does. Widely perceived to be among the managers closest to Tata, Krishna Kumar assesses Ratan Tata, the man and business leader, in this exclusive interview to Rediff.com's Vaihayasi Pande Daniel.
'Bottomline, hairline and waistline -- you have to watch them always.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
Vivek Gambhir revels in his two-city life between the Godrej-owned flagship in Mumbai and his own family in New Delhi.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
ITC is one of those few enterprises in the world that has traversed a 100 year journey and has yet managed to remain contemporary, relevant and competitive.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'Cyrus was always very different. He would think before acting.'
'For our traditional membership base, it would be an access to disruptive ideas,' FICCI President Subhrakant Panda tells Asit Mishra/Business Standard.
The promoter-brothers, distant cousins to IndiGo's Rahul Bhatia, are eyeing Air India's ground handling subsidiary to augment their aviation services business even as they make a big play in EVs.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Union minister Ram Vilas Paswan appealed to people to boycott products from China and also directed officials of his ministry not to procure any Chinese products for day-to-day office use while his ministerial colleague Ramdas Athawale said all restaurants and hotels that sell Chinese food in India should be closed down.
Nearly 250 private liquor vends, licensed under now-withdrawn Excise Policy 2021-22, are running currently in the city.
Five of these have wound up since, according to records of the Ministry of Corporate Affairs
Tata Sons said dividend from 40-odd Tata Group firms had declined during Mistry's tenure while expenses had risen
