Unlike the race to buy airwaves by telecom companies, airports by infrastructure companies and city gas networks by energy companies, the race to develop super apps by consumer-facing companies in India has not brushed up against any regulatory issues. Officials at the ministry of electronics and information technology and at other regulators are happy they do not have to meddle in who among the Tata group, Reliance Industries Ltd, Flipkart or Paytm will manage to build an app that sweeps in customers. Unlike separate apps a customer uses on her mobile to order groceries, buy food or airline tickets or just make payments, a super app can perform all these functions.
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
RIL's standalone net profit rose one per cent quarter-on-quarter
Reliance Industries Ltd's focus on the next hypergrowth opportunities in clean tech and its path to decarbonisation has the potential to spur re-rating, raises clarity on investment cycles and reduces investor worry, brokerages said. RIL chairman Mukesh Ambani at the company's 'Green AGM' on Thursday committed Rs 75,000 crore over the next three years to set up an integrated Green Energy Giga Complex across 5,000 acres in Jamnagar, Gujarat which will contain four giga factories. The complex, which would be one of the world's largest renewable manufacturing facilities, would have an integrated solar photovoltaic module factory, an energy storage battery factory, electrolyser manufacturing for hydrogen production, and manufacturing of fuel cells so that hydrogen can be used in transportation.
While previously selling of the marketing business, possibly to another state-owned firm, was being considered, the government is now mulling on hiving off the pipelines into a separate entity and selling off a majority stake in it.
Dealers are not happy with the company's latest retailing policy and decided not to re-open their pumps.
Anmol Ambani, the eldest son of industrialist Anil Ambani, has lashed out against a new round of lockdowns being imposed amid the surge in COVID-19 cases, saying such restrictions do not concern health but control and that they destroy the very backbone of the society and economy. The 29-year-old former executive director of Reliance Capital Ltd in a series of tweets lambasted the new semi-lockdown rules hurting small businesses and daily wage earners. "Professional 'actors' can continue shooting their films. Professional 'cricketers' can play their sport late into the night. Professional 'politicians' can continue their rallies with masses of people. But YOUR business or work is not ESSENTIAL. Still don't get it?" he said in a tweet.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' stock market queries. Ajit will offer his unbiased views on a weekly basis
According to the agreement, RIL will transfer its existing textile business under the Vimal brand into a newly incorporated company in which RIL will hold 51 per cent stake. The remaining 49 per cent stake will be sold to Ruyi.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Online grocers like Bigbasket and localbanya witness surge in sales.
Revenue was also boosted by robust growth in retail business which recorded a 73.6 per cent increase to Rs 11,571 crore
.jpg)
The existing shareholders will get one RPL share for each RCom share (of Rs 130 market price) held.
The second-longest serving chairman introduced quite a few measures for the primary market and implemented a new corporate governance framework.
Ajit Mishra, vice president, Research, Religare Broking, answers queries on how to invest in stocks.
The 2016 upstart, called Jio, dislodged rivals and has emerged as the nation's No. 4 carrier by offering call services free for life and data transmission at dirt cheap rates.
Mukesh Ambani said the Digital India initiative has the potential to transform the lives of 1.2 billion Indians using the power of digital technology.
The Sensex and Nifty remained above their key levels of 36,000 and 10,900 throughout the session, indicating strong investor optimism after a prolonged spell of caution.
Making sense of the international crude market is incredibly hard.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
India has rejected a request from BP Plc to be allowed to sell jet fuel to the booming aviation market.
Indian equity markets registered their highest single-day percentage gains since early October.
Besides malls and high-street stores, there's a rush of discounts while you are flying or holidaying in fancy hotels.
TCS, Bajaj Auto, Adani Ports and Cipla were the top gainers on BSE Sensex while Coal India, GAIL, Dr Reddy's and Infosys lost the most on the index.
Brokers like Vasudevan are struggling to keep themselves in tune with this super-informed, new-generation retail investor.
The list includes CAG's request dated July 2, 2012 for information on award of contract for laying of a 1,395-km pipeline by Mukesh Ambani-owned Reliance Gas Transportation Infrastructure Ltd for shipping KG-D6 gas from east coast to the west.
The broader NSE Nifty gained 22 points to 10,480.60
The company's growth was driven by a decline in total expenses, lower finance cost and higher other income.
India Inc was, perhaps, watching out for a repeat of the dot-com bubble burst of the early 2000s.
Begin with ITC. Larsen & Toubro, yes. ICICI and HDFC, yes again.
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
Though the NDA government had been trying to privatise 20 companies, a decision for which was taken in 2017, and included national carrier Air India, the investor community evinced little enthusiasm for any of them. Now, with an in-principle approval for privatisation of BPCL, CCI and SCI, the government has taken the plunge again.
India's biggest jewellers' association has asked members to stop selling gold bars and coins.
The drive against insider trading comes after SEBI last year received enhanced investigation powers from parliament, including the ability to monitor call records.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Tamal Bandyopadhyay details HDFC Bank's digital journey.
'There exists a 'brotherhood' of sorts for a very long time and corrupt dealers and corrupt OMC officials are in it together,' Ashwani Attrish, founder, Empowering Petroleum Dealers Foundation, tells Sudhir Bisht, a veteran of the petroleum industry.
Oil firms' borrowings could fall by up to Rs 15,000 cr, govt's subsidy bill by 12% .
Asian shares ended higher after a string of positive US economic data.
Experts tell Ujjval Jauhari that investors need to be careful in picking stocks given high valuations and with markets possibly ignoring potential risks
