The oil-to-telecom conglomerate reported an 8.8 per cent rise in its consolidated net profit to Rs 10,251 crore, or Rs 17.3 per share, in the third quarter ended December 31, 2018.
Global sales made via mobile devices are expected to top $638 billion.
The growing margins suggest that the belt tightening is paying off. For example, the margins of Pantaloon Retail, the country's largest listed retailer, have gone up from 9.2 per cent in June last year to 10.6 per cent in June 2009.Others such as the Raheja-owned Shoppers Stop and Tata Group's Trent, Reliance Retail and Spencer's Retail aren't far behind.
RIL is setting up infrastructure for a full-fledged horizontal e-commerce offering - internally called the New Commerce - to simultaneously launch pan-India by October-November.
Diesel makes up nearly half of fuel demand in Asia's No 3 economy.
The expansion into smaller towns is coming at a time when the online retail space has not only seen consolidation but is actually looking to collaborate with physical stores. Abhineet Kumar reports.
Fact that RIL will get the much required support from another segment like shale gas is a big positive for the stock.
It had signed a joint venture with Reliance Retail to form M&S Reliance India Private Limited in April 2008.
India's only private sector oil refiner, Reliance Industries, has sought a two-year extension of its agreement with Indian Oil Corp to sell Jamnagar refinery products through the state-run firm's retail network.
American clothing brand Kenneth Cole has entered into a deal with Reliance Brands, a Mukesh Ambani-led Reliance Industries firm, to retail its collection of men and women's apparel and accessories in 25 planned stores across India over the next five years.
'Reliance Fresh will break the backbone of the rural economy,' says PMK leader Dr S Ramadoss.
India's total online shopper base at 30 per cent of its internet population is low when compared with 78 per cent in China and 70-plus per cent in the US.
Anil Ambani controlled Reliance Power, which received a tremendous response for its initial public offer, has fixed the issue price at Rs 450 per share, but it will be offered at Rs 430 to retail investors, a discount of Rs 20. "The company's board has fixed the issue price at top-end at Rs 450 per share for the Reliance Power issue and for retail investors at Rs 430 per share," Reliance Power chairman Anil Ambani said on Saturday.
The ban, although described as temporary, is being seen as a knee-jerk reaction by the state government following the attacks on Reliance Fresh and Spencer's stores and has raised several questions over its farm policy.
The Reliance juggernaut is back in action with a $20-billion-plus investment plan.
The store launches same-day delivery for its site, though analysts say others have eroded its headstart in the brick and mortar format.
The Essar group has also closed down 275 outlets across the country. The two companies could not withstand 'unfair competition' from government-backed companies which are compensated for selling fuel at subsidised rates.
Branded Mobi-Retail, this service will be offered to the 35 million subscribers of Reliance Communications, who will be able to use their handsets to buy over 100,000 products ranging from fresh vegetables to groceries, readymade garments, toys etc.
At a time when the CPI(M)-led LDF government has vowed to take effective steps to regulate corporate retailers, Iyer, a member of the E M S Namboodiripad led first Communist government in the state, has come out in support of Reliance.
The acquisition of Trinethra Super Retail would put the Aditya Birla group ahead of competition, including Reliance, analysts tracking the development said.
Nestle, State Bank of India, Power Grid, Tata Steel, Larsen & Toubro and Mahindra & Mahindra were the other major gainers. In contrast, Tech Mahindra, Axis Bank and Reliance Industries were the laggards.
Retailer bodies to demand govt action against I-Day sales offers, threaten legal action for breach of FDI rules.
Amazon on Wednesday filed a writ petition in the Delhi high court seeking clarifications on the scope of Enforcement Directorate's (ED) investigations into alleged foreign exchange violations by the company, according to sources. Last month, Amazon had said it was in receipt of summons by the ED in connection with its deal with the Future Group. According to sources, Amazon in its filing said the ED is expanding the scope of its investigations by seeking privileged and confidential legal advice it received in ordinary course of business since it started marketplace operations and that such requests aren't related to the agency's probe into the Future-Amazon deal.
At the heart of one of the biggest transformations in India's corporate history lies a plan to offer super-fast broadband services.
Reliance Industries Ltd was the biggest wealth creator during the five-year period from 2018 to 2023 while Adani Enterprises Ltd was the top all-round wealth creator, according to a study by Motilal Oswal Financial Services. The study, based on stock market performance of companies, said for the fifth time in succession, Reliance emerged as the largest wealth creator, adding Rs 9,63,800 crore wealth over 2018-23. It was followed by Tata Consultancy Services (Rs 6,77,400 crore wealth addition), ICICI Bank (Rs 4,15,500 crore), Infosys (Rs 3,61,800 crore) and Bharti Airtel (Rs 2,80,800 crore).
With the first quarter earnings season coming to an end, the domestic equity markets would be driven by global trends and trading activity of foreign investors this week, analysts said. The movement of global oil benchmark Brent crude and the rupee against the dollar would also drive trends in the market. "Macroeconomic indicators, trends in global stock markets and FII activities will be pivotal in shaping market trends in the coming days," Pravesh Gour, senior technical analyst at Swastika Investmart Ltd, said.
All directors, key officials, and shareholder speakers will be visible and audible and thousands of shareholders, including those from the US, UK, Canada UAE, Japan, HongKong, Singapore, Malaysia, and Australia, will be able to post their questions and eVote on resolutions.
Despite the onslaught from big retail chains, small kirana shops could get a lifeline from the Indian Institute of Packaging.
Billionaire Mukesh Ambani has set targets for his three kids whom he has identified for takeover of telecom, retail and new energy business. Speaking at his father Dhirubhai's anniversary, celebrated as Reliance Family Day, he said the oil-to-telecom-to-retail conglomerate Reliance industries Ltd has embarked on a journey of comprehensive self-transformation. "The end of 2022 is when Reliance will have crossed the half-way mark of its Golden Decade.
Reliance beat analyst expectations on almost all parameters
The company, ranked 153rd on the Fortune list, is appointing a consultant to explore the possibilities, as part of an internal due-diligence followed for any new business.
The government has allowed Reliance Industries Ltd and Mangalore Refineries and Petrochemicals Ltd to sell kerosene outside the public distribution system, Petroleum Minister Mani Shankar Aiyar said on Thursday.
Big retail is fine tuning its strategy to win over critics and corporate social responsibility drives are providing it with the means.ITC and Reliance have already launched projects to recruit street hawkers, the main adversaries of big retail. And now Bharti Mittal has opened a retail innings of its chain, Easy Day, in Ludhiana with something similar.
Debt-saddled telecom operator Vodafone Idea Ltd's Rs 18,000 crore follow-on offering (FPO) opened to a modest response on Thursday with just 26 per cent of shares on offer being sought by investors. Of the 1,260 crore shares on offer, 331.24 crore was subscribed on Thursday, according to information on the BSE. Qualified institutional buyers picked up 61 per cent of their 360 crore shares reserved for them while non-institutional investors sought 28 per cent out of 270 crore shares earmarked for them.
Apparel makers are hopefully eyeing the Indian womenswear and lingerie market in the New Year.
Chalking out an aggressive expansion strategy in the petroleum retail segment, Mukesh Ambani-run Reliance Industries on Thursday said it will more than double the number of fuel stations across the country by the middle of next year.
On the heels of Reliance Industries foraying into the lucrative retail business, Birla Group too contemplates rolling out its organised retail initiative.
