While Reliance Retail did not comment, sources said the company will have to follow order, at least in Delhi.
While Flipkart and Amazon go on a fund-raising spree, the real battle will begin once big industrial houses such as the Tatas, Reliance and the Aditya Birla group join the race.
Gross refining margins may decline sequentially but improving petro-chem margins will boost earnings
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
Capital expenditure by Indian companies is likely to see an uptick in the upcoming quarters as capacity utilisation has surpassed the critical threshold of 75 per cent, and numerous companies have deleveraged their balance sheets, according to analysts. The first quarter of the current financial year has shown improved profitability, driven by a decrease in input prices. This, according to analysts at Care Ratings, should stimulate a revival in the private capex cycle.
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.
Reliance Industries earned a breather when PSU oil firms revised their requirement of diesel from it to 3.7 million tonnes in 2004-05.
Bajaj Finserv was the biggest gainer in the Sensex pack, rising 2.21 per cent, followed by Titan, ITC, Kotak Mahindra Bank, HDFC Bank, HDFC, Bajaj Finance, IndusInd Bank, ICICI Bank, HUL, Reliance Industries and Mahindra & Mahindra. Wipro, Tata Consultancy Services, Power Grid and Tech Mahindra were the laggards.
The unit of Reliance Communications may raise debt, equity
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.
The latest deal would give Facebook deeper access to India, the second largest internet market after China.
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.
Walmart group firm Flipkart continues to dominate the e-commerce segment with 48 per cent market share while Softbank-backed Meesho has emerged as the fastest growing e-commerce platform in terms of user base in India, a latest report by AllianceBernstein said. According to the report, Flipkart's user base grew 21 per cent year-on-year (YoY), Meesho accelerated at 32 per cent while Amazon lagged at 13 per cent user growth primarily due to relative premium offerings as compared to peers. "As of FY23, Flipkart was the market leader, with a 48 per cent share in India eCommerce.
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.
Reliance Lifestyle is an arm of Reliance Retail, a leading domestic player in the organised retail space.
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.
Don't count too much on the anchor investor quota, as it will provide stability to the stock for only a short period
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.
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.
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.
Consolidated revenue rose to a record Rs 163,854 crore.
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.
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.
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.
Mukesh Ambani's Reliance Industries is slugging it out with fuel retailers in Gujarat.
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.
Making his ambitions clear, Ambani said the company is "well equipped to be a national leader".
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.
"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.
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.
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.
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.
