In a memorable year for the equity market, Dalal Street investors added a whopping Rs 81.90 lakh crore to their wealth in 2023 as a raft of positive factors powered a stellar rally in stocks. Experts said India's strong macroeconomic fundamentals, political stability owing to the BJP's success in recent elections in three significant states, optimistic corporate earnings outlook, signals from the US Federal Reserve about three prospective rate cuts next year and heavy retail investors participation played a major role in fuelling the stock market rally in 2023. In the year 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent.
As crude oil prices rose sharply, private companies like Essar Oil and Reliance Industries closed their retail outlets as they found it difficult to compete with state-owned oil companies, which were selling fuel below the production cost with support from the government. While Essar Oil has drawn up plans to re-open its retail outlets, Reliance Industries has decided not to go ahead with the retail plan
The Anil Dhirubhai Ambani Group Company also announced to invest Rs 1,000-1,200 crore (Rs 10 to 12 billion) on expansion of its life insurance business in the next 2-3 years. The company is aiming to sell one million 'Express Life' policies in this financial year.
The Symbiosis Institute of Management Studies, Pune, invites industry delegates and management students to attend its annual business seminar 4Thought--Khsitij ke Par.
Reliance Infocomm is following the initial public offering distribution model to ensure that potential consumers in each and every pocket across the country are tapped to sign up as customers.
RBI's exercise will take into account standards of governance, the viability of the payment bank (PB) business model, and changes, if any, if needed.
Reliance Industries earned a breather when PSU oil firms revised their requirement of diesel from it to 3.7 million tonnes in 2004-05.
The latest deal would give Facebook deeper access to India, the second largest internet market after China.
The unit of Reliance Communications may raise debt, equity
Power Grid, HCL Technologies, Asian Paints, Hindustan Unilever, Maruti and Nestle were among the laggards. Shares of HCL Technologies were trading over 1 per cent lower even after the company reported a 7.6 per cent year-on-year rise in June quarter net profit on the back of new order wins.
Hospital chain Aster DM Healthcare's plans to sell its Gulf business may run into rough weather with voting advisory firm Institutional Investor Advisory Services (IiAS) raising concerns over the transaction. Recommending an 'against' vote on the resolution, IiAS has said there is no clarity on how Aster DM will utilise the proceeds that it will obtain by selling the unit, which contributes to bulk of its revenues. In November, Aster DM had announced its plans to sell its wholly-owned subsidiary Affinity Holdings, which conducts business in the Gulf Cooperation Council (GCC) region, to Alpha GCC for $1 billion.
Reliance Industries, India's largest private fuel retailer, may cut petrol and diesel prices by about Re one per litre on Thursday in step with a fall in international oil prices.
Kotak Mahindra Bank was the biggest loser from the Sensex pack, skidding 1.83 per cent, followed by Axis Bank, NTPC, Hindustan Unilever, ICICI Bank, Bharti Airtel, Reliance Industries, HCL Technologies, IndusInd Bank and Nestle. In contrast, Bajaj Finance, Bajaj Finserv, Tech Mahindra, Tata Consultancy Services, Titan, Infosys, HDFC Bank, HDFC and ITC were the gainers.
While reforms may translate into new opportunities for firms like ITC, Adani Wilmar and Reliance Retail, farmers are unlikely to use it for fear of upsetting commission agents.
Close on the heels of the Mukesh Ambani-controlled Reliance Retail's possible entry into the second-hand car market, Tata Motors, the country's second largest automobile major, is planning a similar foray.
After Reliance Industries, Tata, Bharti and the AV Birla group, the Hero group is all set to enter the Indian retail sector.
Reliance Lifestyle is an arm of Reliance Retail, a leading domestic player in the organised retail space.
'There are occasions when the prices of individual items like food raise inflation; then supply-side measures must be taken.' 'But if there is continued inflation, it means liquidity is aggravating the situation.'
Don't count too much on the anchor investor quota, as it will provide stability to the stock for only a short period
Air Deccan on Tuesday announced a tie-up with Reliance Infocomm that would allow passengers to book tickets through the cellular company's retail chain of 241 broadband Reliance Web World outlets across 104 cities.
Reliance Industries may report a muted performance for the April-June quarter of FY24, with most brokerages expecting it to have witnessed a year-on-year (YoY) and quarter-on-quarter (QoQ) contraction in revenue and net profit during the period because of a poor showing by its oil-to-chemicals (O2C) division. The O2C division, which includes refining and petrochemical businesses, accounts for a little over half of RIL's revenue and profit. A muted showing by RIL in the first quarter of 2023-24 may weigh on the overall corporate earnings, as well as the equity markets.
Big retailers are openly talking of plans to harness the power of big data, even reporting those in annual reports as part of a long-term strategy.
Consolidated revenue rose to a record Rs 163,854 crore.
Readying itself for a bank licence, Anil Ambani-led group's Reliance Capital on Wednesday said Japan's Sumitomo Mitsui Bank and Nippon Life would become its strategic partners in the proposed banking venture, with each having 4-5 per cent stake.
The rating affirmation reflected RIL's strong business profile - a large-scale refinery with a capacity of around 1.2 million barrels a day and dominant market position in petrochemicals.
Billionaire Mukesh Ambani's Reliance Jio is India's strongest telecom brand in India, ahead of Bharti Airtel and Vodafone Idea Ltd, according to brand intelligence and data insights company TRA. TRA, formerly Trust Research Advisory, in its 'India's Most Desired Brands 2022' ranked companies according to their brand strength. Reliance Jio topped the telecom category, followed by Bharti Airtel, Vodafone Idea Ltd and BSNL.
The company expects net proceeds of Rs 53,036.13 crore from the rights issue that opens on May 20 and closes on June 3.
Market cap touches Rs 5 lakh crore; earnings growth to spurt in FY19
Retail investors usually get caught up in the frenzy of a bull market and burn their fingers in IPOs, warns Tinesh Bhasin.
Mukesh Ambani's Reliance Industries is slugging it out with fuel retailers in Gujarat.
Making his ambitions clear, Ambani said the company is "well equipped to be a national leader".
"From our assessment, RIL has invested only a very small amount in buying Gapco. It will not affect the company's balance sheet at all," one Mumbai-based analyst said.
Shell India is the second private sector petroleum company to review its expansion plans in India. The company has decided not to open any more petroleum outlets. The company has also asked some of its employees to start looking for another job. Shell has 50 petrol pumps across the country and has a licence to open 2,000 pumps.
Announcing a bullish stance on the company's financial position, the chairman and managing director said that RIL would become debt-free on a net basis in the current 2011-12 fiscal.
Future Retail's (FRL's) independent directors have written a second letter to the Competition Commission of India (CCI), stating American e-commerce major Amazon never intended to invest in Future Coupons (FCPL) and the representations made by the US e-commerce player were completely opposite and contradictory to their own internal correspondences as submitted before courts. The directors also wrote to CCI that Amazon has obtained approval by making deliberate misrepresentations. By actively misleading the CCI and the regulator, it has to revoke the approval granted for Amazon's investment in FCPL.
E-commerce major Amazon on Wednesday said it will acquire Prione Business Services - its joint venture firm with Catamaran, subject to requisite regulatory approvals. Prione Business Services was formed in 2014 and was coming up for renewal on May 19, 2022. In August this year, Amazon and NR Narayana Murthy's Catamaran announced that they will not continue their JV beyond May 2022. The two parties had not disclosed the reason behind the decision.
The Supreme Court judgment last week allowing Tata Power to retail power to consumers in Mumbai could pose a few regulatory challenges, experts feel.
State-owned Life Insurance Corporation of India (LIC), which completes one year of its listing on Tuesday, presents a sorry scorecard as far as its stock market performance goes. Shares of the insurance behemoth are down 40 per cent over their issue price of Rs 949 to Rs 567 apiece. The Sensex, on the other hand, has risen 14 per cent in the past one year.
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