At the annual general meeting of Reliance Industries earlier this week, Isha Ambani, director at Reliance Retail Ventures, announced that the company is foraying into the fast-moving consumer goods (FMCG) space. But analysts say that only time will tell if this will lead to a disruption in India's FMCG market. While Reliance Retail's initial strategy is to take its own brands, which it currently sells at its own supermarkets and hypermarkets, to general trade, it is also looking at acquisitions.
Udaan - India's largest business-to-business (B2B) e-commerce company - has laid off about 180 employees, or 4-5 per cent of its workforce of 4,000, in a move to drive cost efficiency, revealed sources. They said the layoffs have happened across various department functions. The layoffs have happened at a time when the Bengaluru-based firm is trying to turn into a publicly listed entity in 18-24 months.
Kerala-based Kitex Garments, the world's second-largest children's garments producer, has landed in trouble after sporadic violence at its workers' camp led to an attack on the local police, injuring at least five officers. The local police told Business Standard that at least 156 migrant workers were detained after the incident and around 50 have been arrested so far. A decision on any possible action against the company will be taken after the investigation.
Reliance Jio, together with partners, has tested its 5G solutions in India, successfully demonstrating speeds of over 1 GBPS, and its 'Made in India' solution is "globally competitive", RIL chairman Mukesh Ambani said on Thursday. Ambani also exuded confidence that the company will be the first to launch full-fledged 5G services in the country. Jio is not just working to make India '2G-mukt' (free from 2G) but also '5G-yukt' (5G empowered), he added. Jio's engineers have developed a 100 per cent home-grown and comprehensive 5G solution that is fully cloud native, software defined, and digitally managed.
Probiotics are special bacteria with the unique ability to reach the intestine alive and make a positive contribution in the functioning of the digestive system.
Prime Minister Narendra Modi on Monday said the Centre along with states is making efforts to control lumpy skin disease in cattle.
The next edition of the country's leading automobile show, the Auto Expo, will be held from January 13-18 next year, having been cancelled this year due to the COVID-19 pandemic. The last edition of the biennial automobile show took place in February 2020 amid fears of the spread of the coronavirus across the world. It was supposed to take place in February this year at Greater Noida but was postponed due to the worsening COVID-19 situation.
What is Wal-Mart? When was it set up? Who owns it? Read on to find out.
Mukesh Ambani's Reliance group has struck acquisition deals worth $4.2 billion with a dozen companies in just two years to expand its retail business. The latest purchase was of a majority stake in Justdial for Rs 3,497 crore. Elaborating on his acquisition strategy a few weeks ago during the AGM, Ambani stated that one of the key planks would be to acquire businesses that enhanced Reliance's offerings and experiences to customers and that they would be both physical and digital.
Sukanya Verma quizzes you to find out just how much you know about the movies.
The Tata group on Thursday launched its super app, Tata Neu, bringing all its brands in one platform as it seeks to play a major role in the Indian ecommerce space currently dominated by the likes of Amazon and Flipkart.
Navil Noronha stepped out of the shadows to address the media for the first time during the company's recent IPO.
FB deal puts RIL on course to be debt-free next year; Reliance Retail biggest gainer from WhatsApp, JioMart arrangement.
The winners of the Natural History Museum's prestigious Wildlife Photographer of the Year competition were announced at an awards ceremony in London. American photographer Karine Aigner was announced as this year's Wildlife Photographer of the Year.
Meesho has emerged as the second-largest player by order share in this year's festive sales till now, surpassing Amazon, while Flipkart Group platforms topped the market in both orders and gross merchandise value (GMV), according to according to a report by consultancy firm Redseer. It said Flipkart Group maintained its leadership position with a 62 per cent market share in terms of GMV during the first week of the festive season, followed by Amazon which had 26 per cent share, while the remaining 12 per cent was distributed among other e-commerce players. In terms of order volume, Flipkart Group again leads the market with about 49 per cent share and SoftBank-backed Meesho ranks second with about 21 per cent order share, according to Redseer.
Billionaire Mukesh Ambani on Monday laid bare the succession plan at India's most valuable company, identifying twins children Akash and Isha for telecom and retail leadership, and youngest son Anant for new energy unit. He, however, insisted he isn't retiring yet and will "continue to provide hands-on leadership as before". At the annual shareholders' meeting of Reliance Industries Ltd, he said the robust architecture that he has announced will ensure the firm remains "a unit, well-integrated and secure institution even as it develops existing businesses and adds new growth engines."
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 stocks Radhakishan Damani enters or exits are closely watched by fund managers, says Joydeep Ghosh.
Flipkart Group on Monday said it has raised $3.6 billion (about Rs 26,805.6 crore) in funding led by GIC, Canada Pension Plan Investment Board (CPP Investments), SoftBank Vision Fund 2 and Walmart, valuing the e-commerce giant at $37.6 billion. The company, which competes with Amazon, Reliance Industries' JioMart and others in the burgeoning Indian e-commerce market, said it will continue to make deeper investments across people, technology, supply chain and infrastructure to address the requirements of a rapidly growing consumer base in the country. The current funding round has also seen participation from sovereign funds DisruptAD, Qatar Investment Authority, Khazanah Nasional Berhad as well as marquee investors Tencent, Willoughby Capital, Antara Capital, Franklin Templeton and Tiger Global.
The real estate market in Bangalore, which has been to an extent insulated from the weak demand uptick across in India, is starting to feel the heat. According real estate advisory firm CBRE - Bangalore witnessed a decrease in sales of residential property in H1, 2012.
Future Group and V-Mart have put in place systems to prevent panic buying at their neighbourhood grocery stores.
In keeping with its increased thrust on new markets, Indian pharma major Ranbaxy said on Friday that it has established a subsidiary in Russia with 120 people to begin
This versatile Thai red curry takes any kind of vegetable or protein in it and is served with steamed rice and garnish.
Mukesh Ambani has resigned from the board of his group's telecom arm, Reliance Jio and handed over the reins of the company to elder son Akash, a step seen as succession planning by the 65-year old billionaire. In a stock exchange filing, Reliance Jio Infocomm said the company's board at a meeting on June 27, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company." This comes after his father resigned with effect from close of working hours on June 27, it said.
Suspension that has fully acclimatised to Indian roads and handles potholes and bumps with ease, plush interiors that feel premium beyond just surface level, and aggressive and imposing design cues give this SUV a presence and profile that has little competition, says Pavan Lall.
Walmart-owned Flipkart on Thursday said the company is in compliance with Indian laws, including FDI regulations, and will cooperate with the Enforcement Directorate on the notice sent to the e-commerce major. The Enforcement Directorate (ED) has issued a show cause notice of Rs 10,600 crore to Flipkart and its promoters for alleged violation of the foreign exchange law, official sources said on Thursday. When contacted, Flipkart said it is in compliance with Indian laws and regulations, including FDI regulations.
Billionaire Mukesh Ambani-led Reliance Retail on Thursday said it has acquired sole control of 25-year-old search and discovery firm Just Dial. The firm's subsidiary Reliance Retail Ventures Ltd had in July announced a deal to buy a controlling stake in Just Dial for Rs 3,497 crore. Further to that announcement, "RRVL has now taken sole control of Just Dial Ltd in accordance with the SEBI Takeover Regulations with effect from September 1, 2021."
Altering traits does not endow us with the underlying genes, however, and over time, our gray roots show and our crow's feet come back.
How much you know about the movies? Find out in Sukanya Verma's amazing quiz.
India is poised to become a major market for mining equipment, even larger than China, according to US-based Bucyrus International, a world leader in manufacturing equipment for the surface and underground mining industry.
'If one crore is sanctioned to make a road, they spend only Rs 40 lakhs and the remaining 60 lakhs is looted by the politician, bureaucrats and the contractor.'
After matrimony and jobs, online property market is all set to be the next big thing on the Internet, according to the chief of a leading portal dealing with real estate.
The principal and three teachers of La Martiniere School, facing charges of abetment to the suicide of 13-year-old student Rouvanjit Rawla, on Friday moved a higher court against the magisterial order for their trial.Claiming that the metropolitan judge of Bankshall Court had no jurisdiction to reframe charges, the teachers sought quashing of his order before Chief Sessions Court Judge Dipak Saha Roy.
The market valuation of Indian stocks is currently the second highest among emerging markets with the Sensex trading at a price-to-earnings multiple of 23.27 times
Online grocers like Bigbasket and localbanya witness surge in sales.
Dairy major Gujarat Co-operative Milk Marketing Federation plans to take a plunge into the flavoured yoghurt business. The product will cater to the youth and health conscious.
Expecting the Indian defence market to grow to $10-15 billion over the next decade, US aerospace firm Boeing on Friday said it was looking to sell different aircraft and equipment, besides cooperate with local firms on production front
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