Disappointing quarterly earnings numbers and revenue forecast from IT services company Wipro also weighed on investor sentiments. The 30-share BSE Sensex fell 247.78 points or 0.38 per cent to settle at 65,629.24 points. During the day, it plunged 533.52 points or 0.80 per cent to 65,343.50 points.
This comes at a time when most homegrown companies have been venturing abroad, making acquisitions and organically growing their businesses.
Future Retail, once the crown jewel of Kishore Biyani-led Future Group, is now heading for liquidation as its lenders could not get any reasonable buyer of the debt-ridden firm. As the Committee of Creditors (CoC) rejected the sole resolution plan submitted by Space Mantra after four extensions in the deadline to complete the corporate insolvency resolution process (CIRP), the RP of the company has now approached NCLT to initiate liquidation of Future Retail (FRL). "The resolution plan submitted by Space Mantra Private has not been approved by CoC of FRL, kindly note that, the Resolution Professional (RP) has filed an application, before the National Company Law Tribunal, Mumbai Bench, for initiation of liquidation of FRL," said a regulatory filing from FRL.
Walmart group firm Flipkart continues to dominate the e-commerce segment with 48 per cent market share while Softbank-backed Meesho has emerged as the fastest growing e-commerce platform in terms of user base in India, a latest report by AllianceBernstein said. According to the report, Flipkart's user base grew 21 per cent year-on-year (YoY), Meesho accelerated at 32 per cent while Amazon lagged at 13 per cent user growth primarily due to relative premium offerings as compared to peers. "As of FY23, Flipkart was the market leader, with a 48 per cent share in India eCommerce.
Much of this has been made possible by the owners's insistence on building a team, rather than banking on a collection of talented individuals not necessarily suited to play alongside one another.
All the 700-odd employees of RMWL will get new cards and stationary with a new signature logo which will have RMWL as the umbrella brand and the business divisions alongside -- BIG FM, BIG Live, BIG Street, BIG Digital.
The 4G service may use Reliance Retail, with a surging customer base, as the launch pad
The Delhi high court on Thursday upheld the Singapore Emergency Arbitrator's (EA) order restraining Future Retail Ltd (FRL) from going ahead with its Rs 24,713 crore deal with Reliance Retail to sell its business, which was objected to by US-based e-commence giant Amazon.
While consumer electronics, technology, mobile phones, auto and sports-wear categories dominate the top 20, FMCG has only one entry in the list
Owing to the poor market conditions and tepid sentiments, the size of the show has shrunk compared to the last edition, which took place in 2018. A majority of the two-wheeler makers, and several car and commercial vehicle makers, have opted out of this year's show, which opens for the media on Wednesday.
Former skipper Nasser Hussain said reliance on statistics rather than reading the conditions has led to England's downfall in World Cup 2023.
The company is offering its own devices under the brand name Lyf along with other brands to employees at a 25 per cent discount.
Reliance Infocomm would enter into promotion of films, theatre and other entertainment events in a big way to give a fillip to its 'Showtime' sub-brand of RelianceIndia Mobile under the R-World platform.
After the success of its wireless-in-local loop (mobile) service, Reliance Infocomm on Tuesday launched another innovative communication product -- fixed phones sans any wire connection.
A single application and a plethora of services for passenger cars - that is what myTVS, a brand that operates under Ki Mobility Solutions and is part of the TVS family, is set to bring to customers, in a bid to disrupt the concept of "super apps" in India. Starting July 15, myTVS will launch its connected car platform or super app called myTVS Life360 for aftermarket passenger cars. Through it, customers will be able to avail themselves of a range of services like maintenance, diagnostics, roadside assistance, accessories, payments, insurance, and so on.
Reliance Retail's digital commerce platform JioMart will morph into an e-marketplace offering multiple brands - from electronics, consumer durables, fashion and lifestyle, beauty, home, kitchen, and grocery - as it girds up to take on the likes of Amazon and Flipkart ahead of the festival season sales. India's largest retailer was in the process of onboarding third-party sellers these past few months, further increasing its selection across categories multifold. Its website and application offers general merchandise as well.
Mukesh Ambani-spearheaded Reliance Retail Ltd on Wednesday launched 12 neighbourhood vegetable and grocery stores in this metropolis, taking the total number of such stores under its pilot retail initiative to 40.
The ministry of petroleum and natural gas has granted seven authorisations to companies for selling automobile (auto) fuels in the country. These new approvals are under the relaxed guidelines for authorisation to market transportation fuels that were revised in 2019. This is expected to make the competition more intense in India's petroleum retail business. According to a top oil ministry official, a fresh marketing authorisation has been granted to Reliance Industries (RIL) under these norms. This is being done since RIL's existing retail marketing authorisation has been transferred to its subsidiary Reliance BP Mobility
Shashwat Goenka of the RP-Sanjiv Goenka group plans a high-decibel campaign around its young apparel brand 2Bme.
Mukesh Ambani-owned Reliance Retail on Thursday opened its first exclusive apparel store under the 'Reliance Trends' brand in Gurgaon as it moves ahead with its Rs 25,000 crore ( Rs 250 billion) retail juggernaut.Besides housing a variety of international brands like Lee, Wrangler and Reebok, 'Reliance Trends' will also have a fair share of private label in various categories.
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.
Reliance Retail and Bharti Enterprises are understood to be in talks to buy India assets of the world's second largest retailer Carrefour that has decided to exit the country by closing its five stores.
Patience, however, ran out for over a dozen global brands, including GAS, Replay, Etam and Argos. All of them have ended their joint ventures or franchisee arrangements with Indian retailers in the last one year due to reasons ranging from poor sales and high rentals to mounting losses and failure to open stores on time.
Under political fire and ecologists' ire, the group hires Suhel Seth, who will work closely with the promoters and the social media, corporate communications and external public relations team.
SBI comes second and Bharti Airtel is third
'Namaste behno aur bhaiyo, main aapka dost Ameen Sayani bol raha hoon'
Vodafone has been recognised as the most admired mobile service brand online in India followed by Tata Indicom and Aircel, a survey said.
Brand name Reliance finds a place in the prestigious American business magazine Forbes -- be it promoted by Ambanis or a company in the United States.
'We are calling companies to set up assembly plants for mobile phones while all the components are imported.' 'Only the last turn of the screwdriver is done here. And you call it self-reliance, Atmanirbharta, etc.' 'Unless you invest in research, you will not climb up the ladder. But this government is happy getting sub-contract work.'
Indian brands that represent a range of goods and services, from airlines to mangoes, have the potential to match or even upstage well-established global brands, says a marketing guru.
The company had reported a turnover of Rs 10,800 crore (Rs 108 billion) in the previous financial year.
After tie-ups with various companies such as Dabur, Sanyo, Godrej and Timex, Reliance Retail is talking to some more companies for roping them in as suppliers to its organised retailing initiative that recently took off from Hyderabad.
The old guard is still involved in broad corporate decision-making, but quite a few new business heads have started making their mark at the group
Digital literacy is emerging as the professional language of 2024. It is the ability to process complex data sets, deploy critical communication technologies appropriately and validate your importance at your workplace, explains Jagdeep Kochar, managing director, Baker & Taylor India.
Mukesh Ambani-led Reliance Retail on Friday said it would set up 55 stores for home appliances and electronic goods across the country over the next two years.
Vimal was a pioneer in making TV commercials for fabrics, the first to use Bollywood stars and cricketers as brand ambassadors and among the earliest to start a national retail chain. What happened to it?
An interview with Landor's executive creative director Peter Knapp.
Reliance Communications brings all its global initiative under a single brand name of Reliance Globalcomm and renames FLAG Telecom as Reliance FLAG.
The Reliance apparel stores will stock all kinds of apparel, about 4,000 products across as many as 94 brands, manufactured exclusively for the company.
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