As part of an ambitious diversification programme, Mukesh Ambani led Reliance Industries is planning to pump in up to Rs 30,000 crore (Rs 300 billion) over the next five years to set up a mega retail chain, covering about 100 cities across the countr
India's most valued company, Reliance Industries Ltd (RIL), reported a robust performance in the third quarter of the current financial year (Q3FY25), surpassing analyst expectations. This coupled with positive commentary by brokerages led to the stock of the oil-to-telecom conglomerate surging as much as 4.44 per cent to hit an intraday high of Rs 1,325.1. It settled at Rs 1,301.3 apiece, up 2.57 per cent.
Reliance Industries on Friday reported a 41.5 per cent jump in its third quarter net profit as oil, retail and telecom businesses fired on all cylinders. Net profit of Rs 18,549 crore in October-December compared with Rs 13,101 crore a year back, the company said in a stock exchange filing. Income from operations rose to Rs 1.91 lakh crore from Rs 1.28 lakh crore.
Reliance Industries on Wednesday launched three state-of-the-art retail outlets for diesel and petrol at Jamnagar Petrochemicals complex at Hazira and DAKC and Navi Mumbai.
The Supreme Court is scheduled to pronounce on Friday the verdict on e-commerce giant Amazon's pleas against the merger of Future Retail Ltd (FRL) with Reliance Retail and is likely to decide whether Singapore's Emergency Arbitrator (EA) award, restraining the Rs 24,731 crore deal, was valid under Indian law and can be enforced. As per apex court website, the verdict would be pronounced at 10.30 AM by a bench of Justices R F Nariman and B R Gavai which had reserved it on July 29 after hearing battery of lawyers including senior advocates Harish Salve and Gopal Subramanium, appearing for FRL and Amazon respectively. The verdict is keenly awaited as it is likely to deal with the legality and enforceability of an award by an Emergency Arbitrator (EA) of the foreign country here in view of the fact that the term EA is not used in the Indian Arbitration and Conciliation Act.
The way the story went, customers would get dramatically lower prices for everyday groceries (something that takes up 45 per cent of the household budget) and farmers would earn at least a third or more as big retailers began procuring from them directly. But none of this has really happened, and may not either.
Real estate experts say rentals have corrected by 5-10 per cent across formats, including office, retail and housing, with a pick-up expected over the next few quarters as the economy recovers.
His value lifestyle brand Zudio signals a coming of age of retail in small town India.
Richest Indian Mukesh Ambani on Tuesday mentioned about leadership transition at his energy-to-retail conglomerate, saying he wants the process to be accelerated with seniors, including him, yielding to the younger generation. Ambani, 64, who has previously not spoken about succession plans at the country's most valuable company, said Reliance is "now in the process of effecting a momentous leadership transition." Ambani has three children -- twins Akash and Isha, and Anant.
While Ambani, 66, drew nil salary from the company since the 2020-21 fiscal year, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission. His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm.
The Kurkumbh unit, which manufactures MEG from industrial alcohol, has 90 employees on its rolls and another 250 contract labourers.
Brokerages expect a further slowdown in Indian firms' revenue and earnings growth in Q4FY25, following low single-digit growth in the preceding three quarters, as factors like weak consumer demand and credit growth linger on.
Strategic direction post-COVID-19 and further details on asset monetisation are key expectations from the 43rd AGM of RIL, analysts said.
Reliance, Bharti's response to Ahmedabad's space crunch.
As part of the arrangement, products from Timberland's portfolio will be available through various premium department stores across the country, besides its own outlets. "With rapidly-growing fashion and retail sectors, we believe India will become a key market for us," Timberland president and chief executive officer Jeff Swartz said in a statement.
Reliance Brands Ltd (RBL) on Monday announced forming a 60:40 joint venture with Rahul Mishra brand RM, which will create and own a new brand that would encompass courtier's ready to wear business. The new brand would grow both vertically and horizontally in the fields of accessories, footwear, home, beauty, and jewellery for a worldwide audience, said a joint statement. Rahul Mishra will lead the creative direction of the new brand as creative director, it added.
The sources said the company had provisioned to open one or two new stores every month during this financial year. The hypermarkets will offer a range of digital, food and lifestyle products.
RRVL will make an open offer to acquire up to an additional 2.17 crore equity shares of Just Dial, representing 26 per cent stake, in accordance with Sebi Takeover Regulations, a regulatory filing said.
Shareholders of Reliance Industries have approved the appointment of Saudi Aramco Chairman Yasir Al-Rumayyan on the company board, with less than 2 per cent of votes cast against the proposal. Disclosing the results of shareholder votes on the appointment, Reliance in a regulatory filing said 98.03 per cent of votes were cast in favour of the resolution to appoint Al-Rumayyan for three years. As many as 10.89 crore shares or 1.96 per cent voted against the resolution, while 3.23 crore votes were declared invalid due to lack of proper authorisation, it said.
Traders protests against Reliance Fresh may impact Reliance Retail's Rs 3,000 crore (Rs 30 billion)plan to roll out retail and fresh food stores in Orissa.
'The competition between the two is definitely going to be of great interest to the Indian market.'
Reliance Retail on Monday ushered in a new retail culture in the national capital region by opening nine western-style food stores as it hopes to become the preferred supplier of push-cart vendors and kirana stores.
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.
Big chains such as Star Bazaar, Future Group and D Mart have set up separate shelves to sell products of Patanjali.
It bought Rs 410 crore of electoral bonds between financial years 2021-22 and 2023-24, but Reliance said the company is not a subsidiary of any Reliance entity.
Reliance Petro, the petroleum business unit of Reliance Industries Limited, has embarked upon retail expansion binge in a big way to become the biggest player in the private sector.
Zomato emerged as the biggest gainer, followed by Reliance, Nestle, Asian Paints and Power Grid.
Reliance Jewels is offering double gold rate protection for Akshaya Thrithiya.
Amazon violated FDI norms, allege Future Retail independent directors.
The big question, however, is if it can sustain its business model as it grows and expands.
The big question, however, is if it can sustain its business model as it grows and expands.
Whether it's Carrefour, Ford, or other foreign majors, they are ready to adjust their strategies and design their plans in a way that would address the Indian consumption story.
Some of the domestic biggies like Future Group, Reliance Retail and Aditya Birla Retail, while welcoming the government's move to allow 51 per cent FDI in multi-brand retail and completely open single-brand retail, said it will take time for foreign rivals to make presence felt on their own in the Indian retail landscape.
With confidence creeping back into the market place and rentals down up to 50 per cent, large retailers are back to drawing up aggressive growth plans. In the next one year, Aditya Birla Retail, Bharti Enterprises, Reliance Retail, Trent, Mahindra Retail and others hope to open new stores spread over five million square feet.
Isha's stab at the bottom of the laptop pyramid shows she is a true Ambani.
Shares of Future Group firms on Monday faced heavy drubbing, tanking up to 20 per cent, after Reliance Industries said its Rs 24,713-crore deal to acquire Future Group's assets cannot be implemented after secured creditors of the Kishore Biyani-led companies voted against the proposal. The stock of Future Consumer plummeted 19.91 per cent, Future Supply Chain Solutions slipped 19.96 per cent, Future Lifestyle Fashions 19.89 per cent, Future Enterprises tumbled 9.87 per cent and Future Retail fell 4.96 per cent on the BSE. Shares of Reliance Industries also dipped 1.75 per cent.
With an existing consumer base of 400 million across airports, electricity and gas distribution businesses, the Adani group is revving up its retail play. It is planning to use the 2.4 billion consumer interactions a year with group companies to push various products and services. The group has already launched the 'Adani One' super app that will eventually sell products across the spectrum, top executives said.
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.
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