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.
This State-corporate 'cooperation' didn't begin with the arrival of the Modi government.
Many of the big licences, contracts, and even environmental clearances for the Adani group had come in the UPA's time, points out Shekhar Gupta.
Chennai Super Kings chief coach Stephen Fleming hailed Mahendra Singh Dhoni's leadership qualities, and said the veteran stumper's willy captaincy was one of the key reasons behind the team's third title triumph in the Indian Premier League.
The notices were sent to Ramesh Jarkiholi, who was dropped as minister in the recent cabinet rejig and is said to be extremely unhappy over it, B Nagendra, Umesh Jadhav and Mahesh Kumatahalli.
In a letter to the chief secretary, government of Uttarakhand, Union Power Secretary Alok Kumar said the land subsidence in Joshimath was a very old issue, dating back to 1976, and the construction of the 4x130 megawatt Tapovan Vishnugad project started only in 2006 by NTPC.
Ahead of Bollywood's big fat Punjabi wedding, Namrata Thakker looks at other Bollywood celebrities who hosted their nuptials in Mumbai.
Arthur J Pais interviews John Madden, director of the Marigold Hotel films, on the difficult task of creating an equally hilarious and as feeling a sequel.
Rejecting the charge that his party was trying to poach Telangana Rashtra Samiti MLAs, Telangana Bharatiya Janata Party chief Bandi Sanjay Kumar on Wednesday said that Chief Minister K Chandrashekar Rao has scripted the raids at a farmhouse and demanded a probe by a sitting judge.
BCCI is leaving no stone unturned to hold the upcoming edition of the IPL without any glitch
Dr Amit Kumar, the alleged kingpin in the multi-crore rupees kidney transplant racket in India, has been arrested in Nepal, the Himalayan Times newspaper reported on Thursday.
'The problem is that all this reconstruction work is being monitored by the prime minister himself with inputs being provided directly by the PMO so nobody in the state government dare contradict them even if their suggestions are totally contrary to what the ecology of this region requires.'
Since home-delivered meals from five-stars are cheaper by 15 to 20 per cent as compared to eating at the destination outside, food delivery has emerged as an important part of every restaurant's service portfolio.
Sources said the BJP is expecting Sena rebels, who include 39 MLAs and have been joined by at least 10 independents in a Guwahati hotel, to make the first move by approaching Governor Bhagat Singh Koshyari.
Atique Ahmed is one of the most feared dons of Uttar Pradesh today. There was another don who preceded Atique and had he survived, Atique wouldn't have been around today, recalls Sudhir Bisht.
After the Covid-19 pandemic that derailed the economy since 2019, the Durga Puja festival in West Bengal is back with an estimated 20-30 per cent jump in festive spending. Retail sector is the key contributor to the state's Durga Puja economy which was Rs 32,377 crore in 2019, according to a British Council study conducted for the state government. Retail accounts for 85 per cent of the total puja economy and the rest is shared among pandal making, decoration, illumination, entertainment, advertisement, food & beverage and others.
The US president stayed in the Grand Presidential Suite of the ITC Maurya Hotel.
Batting icon Sachin Tendulkar, who brought in his 39th birthday on Tuesday, will celebrate the occasion with a simple cake-cutting with family and Mumbai Indians teammates later in the evening at the team hotel in Chandigarh.
Batting icon Sachin Tendulkar, who brought in his 39th birthday on Tuesday, will celebrate the occasion with a simple cake-cutting with family and Mumbai Indians teammates later in the evening at the team hotel in Chandigarh.
'As demonetisation showed us, the Shah-Modi duo can take big risks.' 'Risking economic damage for political benefit, however, is one thing, stoking old fires in complicated Assam is another', warns Shekhar Gupta.
Lunch boxes, water bottles, remote-controlled car keys, cigarette lighters, briefcases, handbags, cameras, binoculars, umbrellas and similar items will not be allowed at the Red Fort premises, he said.
ITC has been one of the best performing large-cap stock at the bourses thus far in calendar year 2022 (CY22), rallying nearly 52 per cent during this period and outperforming the sector benchmark - the S&P BSE FMCG index - by a wide margin that moved up around 17 per cent during this period. However, the counter has lost over 5 per cent from its recent high of Rs 346.25 hit on September 23, 2022 and has underperformed the S&P BSE Sensex, which has lost nearly 2 per cent since then. So, is the rally in the stock coming to an end, and is this a good time to book profit?
On instructions from the central leadership, Maharashtra BJP leaders have retreated behind a veil of silence, the senior leader said.
A look at Aria, Alessandro Michele's first collection in the centenary year of Gucci.
Rediff.com presents the key witnesses involved in the Salman Khan 2002 hit-and-run case.
By filing his nomination as Congress president on Friday, Shashi Tharoor has shown he is no 'quockerwodger' -- a word he introduced into our lexicon which means someone acting on the instructions of an influential third party.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
'They want to wind up Osho's Pune operation, take the money and move out of India.'
A day after terrorists besieged Mumbai on November 26, 2008, Rakesh Chawan had reported to work as private security guard of MPI at his posting at the Taj Mahal Hotel, one of the sites of the horrific attacks. Little did he know that a few hours later he would come face-to-face with one of the terrorists holed up inside the hotel.
A significant 69% respondents indicated keen interest to travel in 2021 post ease in restrictions with 18% ready to travel immediately post unlock and 51% within 3-6 months.
New Zealand last toured Pakistan in 2003 for a white-ball series and since then have avoided touring the country because of security reasons.
Once an auto-rickshaw driver in Thane city adjoining Mumbai, Shinde (58) quickly emerged as a key Sena leader in the Thane-Palghar region after joining politics and is known for aggressive approach towards issues of public interest.
'Children are curious by nature, so I thought of writing these books, which provide creative but convincing explanations and also teach values like sharing is caring,' Sudha Murty tells Chintan Girish Modi.
The future of travel is increasingly shifting to focus on experiences that positively impact one's overall wellness.
'Every day, after 'pack-up', Khansaab and Deepika would come for dance practice and rehearse till around 1-1.30 am.' 'The weather was a challenge because while on screen, it looks warm and sunny, it was actually bitterly cold, with a sharp, stinging wind which had the actors and dancers shivering in their summer clothing.'
The cooking oil national industry body -- Solvent Extractors' Association (SEA) of India has suggested immediate initiation of government to government (G2G) dialogue with Indonesia on the proposed palm oil export ban from April 28 by them as it would have an adverse repercussions in India. Indonesia, which is the world's largest producer of palm oil and meets nearly 50 per cent of the total palm oil requirement in India annually, had announced to ban exports till further notice apparently to contain edible oil prices in their domestic market. "We have suggested our government initiate dialogue with Indonesian counterparts at the highest diplomatic level on the cooking oil export ban.
Mukesh Ambani-owned RIL's JioMart is set to launch a slew of new products including financial services, electronics to airline tickets to take on the competition from upcoming rivals like the Tata Super app and other established players including PayTM, Amazon and Flipkart. This comes at a time when RIL's e-commerce revenues are set to grow by 35 per cent to $15 billion within four years and its core retail revenue is expected to grow at the same pace to $44 billion, as per a forecast by Goldman Sachs. "The Tata vs JioMart war will be the next big corporate battle to watch. "While Tata has an upper hand like in-house products and brands, RIL has the backing of global biggies like Google, Facebook and Microsoft," said head of a rating firm asking not to be quoted.
All the gossip from the South Indian film industry.
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