After monetising Jio Platforms -- which houses the firm's telecom arm and digital ventures, richest Indian Mukesh Ambani is looking to rope in investors in the retail business.
Reliance Industries Limited (RIL) faced a challenging fourth quarter, with its energy business experiencing significant headwinds, leading to overall muted results and prompting analysts to adjust their outlook, even as consumer segments like Jio and retail demonstrated robust growth.
Reliance Retail is all set to capture the food retail market in Gujarat by setting up over 180 Reliance Fresh stores in 16 cities and towns in the state over the next six months.
This is the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
Toshiba has introduced its Z670SP MiniLED TV series in India, featuring front-firing speakers, MiniLED display technology, a 144Hz refresh rate for gaming and support for Dolby Vision Atmos, with prices starting from Rs 64,990.
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.
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.
US private equity firm Silver Lake Partners will invest an additional Rs 1,875 crore in the retail arm of Reliance Industries, the Indian firm said in a statement on Wednesday.
The home-grown retail player will strengthen its Reliance Market chain to take its turnover to Rs 50,000 crore (Rs 500 billion) in two-three years.
Mukesh Ambani, Asia's second richest man, has not drawn a salary from Reliance Industries for the sixth consecutive year, with dividends from his extensive shareholdings serving as his primary source of income.
Moody's Ratings has highlighted that Indian banks are among the most exposed in the Asia-Pacific region to the West Asia crisis, primarily due to India's high dependence on energy imports, which could lead to increased inflation, higher interest rates, and strained borrower cash flows.
The Supreme Court on Wednesday took note of the consent of US e-commerce major Amazon and Future group and ordered the resumption of arbitral proceedings before the SIAC tribunal over Future Retail's merger deal to the tune of Rs 24,500 crore with Reliance Retail Ltd.
The company has reportedly entered into a sourcing agreement with Rosy Blue, one of the largest jewellery manufacturers, for operations. The jewellery foray is part of the company's lifestyle retail, which includes books and music, cosmetics, lifestyle accessories and home solutions.
Abu Dhabi-based sovereign wealth fund Mubadala Investment Co will invest Rs 6,247.5 crore to buy a 1.4 per cent stake in Reliance Industries Ltd's retail arm -- the billionaire Mukesh Ambani-led firm's third such deal in less than two days.
Reliance Industries Ltd firm, Reliance Retail is making a top management rejig in its value format and will soon announce appointment of two ex-WalMart executives Rob Cissell and Shawn Gray to lead the operations.
The company announced the opening of its first Reliance Living Furnishings store in Noida (Uttar Pradesh) and has plans to follow it up with one more store in Delhi and two in Hyderabad. According to real estate consultant Cushman & Wakefield, retail rentals in some high streets across major cities, including Mumbai, Pune and Chennai and the National Capital Region, had witnessed a fall between 13-20 per cent in the third quarter of this calendar.
Ramping up e-commerce operations and going beyond its current strongholds are key challenges for the grocery chain in its battle with Mukesh Ambani's retail behemoth.
India's organised gold jewellery retail sector is projected to experience a 13-15 per cent year-on-year decline in sales volumes this fiscal, following an 8 per cent drop last year, due to elevated gold prices and a recent import duty hike, according to a Crisil report.
Kirana shops and greengrocers have found a new challenge to grapple with.
Oil-marketing companies (OMCs) are set to significantly expand the sale of flex fuel (E85) across India, with plans to reach 5,000 outlets in major cities by the end of next year, according to Petroleum Minister Hardeep Singh Puri. This move aims to boost ethanol demand, reduce crude oil imports, and cut carbon emissions, coinciding with the launch of India's first flex-fuel vehicles by Maruti Suzuki and Hero MotoCorp.
India's Central government is likely to see its fertiliser subsidy bill double to a record 3.4 trillion in FY27, up from the Budget estimate of 1.7 trillion, due to surging global fertiliser prices exacerbated by the West Asia war. This significant increase, coupled with revenue losses from excise duty cuts for oil-marketing companies, is straining the government's fiscal space, though capital expenditure plans remain unchanged.
Petrol price has been increased by 87 paise in Delhi from Rs 98.64 to Rs 99.51 per litre. Diesel rates have gone up by 91 paise from Rs 91.58 to Rs 92.49.
Reliance Retail Ventures Limited (RRVL) on Thursday said it has entered into a Master Franchise agreement with 7-Eleven to run convenience stores in India. The first 7-Eleven store is set to open on Saturday, in Andheri East, Mumbai, RRVL, the retail arm of Reliance Industries Ltd, said. "RRVL, through its wholly-owned subsidiary, 7-India Convenience Retail Limited, has entered into a master franchise agreement with 7-Eleven, Inc (SEI) for the launch of 7-Eleven convenience stores in India," said a joint statement.
Mukesh Ambani-promoted Reliance Retail on Tuesday resumed its retail rollout in Orissa amid protests by local traders. The company opened a new store at the Gopabandhu square in the morning, then pulled down shutters briefly as hundreds of traders attacked the showroom.
Reliance Industries' digital arm, Jio Platforms, may see its initial public offering (IPO) delayed to the second half of fiscal 2027, according to CreditSights. The delay is primarily attributed to ongoing geopolitical tensions in the Middle East, which could impact market conditions and investor sentiment.
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.
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 company had reported a turnover of Rs 10,800 crore (Rs 108 billion) in the previous financial year.
Urban Ladder was incorporated in India on February 17, 2012. Besides online, the company has presence in offline channels and operates a chain of retail stores in several cities across India.
Reliance's move will put at stake about 10,000 jobs in Uttar Pradesh and Orissa. Already, about 1,000 people, 60 per cent of whom are directly employed, have been sacked.
Reliance Retail, the subsidiary of petrochemicals giant Reliance Industries, will soon launch its own label of consumer electronics goods to complement its retail appliance stores.
Reliance Retail Ventures Ltd has acquired a majority equity stake in digital pharma market place Netmeds for a cash consideration of around Rs 620 crore, Reliance Industries said in a late night statement on Tuesday.
The company is keen on creating 'a differentiated e-commerce model'.
Reliance Retail (RRL), a subsidiary of the Reliance Industries, is on an expansion mode with plans to add more stores in the southern states.
Petrol and diesel prices in India have seen their fourth increase in less than two weeks, pushing cumulative hikes to nearly Rs 7.5 per litre since May 15, reaching their highest levels since May 2022. This surge, driven by global crude oil costs and the Iran conflict, is expected to exacerbate inflationary pressures and raise transportation costs across the economy.
Reliance Retail said it has decided to discontinue its non-vegetarian food offering 'Delight' with immediate effect and would focus on vegetarian offerings only within retail portfolio.
