Reliance Retail follows Future Group in online foray
The New York Stock Exchange-listed Nova said in a statement that it has signed a letter of intent with RIL for the joint venture, which is expected to be operational by the third quarter of 2008 after finalising the formal agreements. Shares of Nova Chemicals rose 3.8 per cent to $26.17 at the NYSE on Thursday, while that of RIL were trading 1.3 per cent up at Rs 2,649 at the Bombay Stock Exchange on Friday.
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.
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.
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.
Patanjali Ayurved, founded in 2007 by yoga guru Ramdev, is targeting Rs 10,000-crore (Rs 100-billion) revenue in 2016-17
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.
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.
India's big retailers have tempting jobs lined up. Tune in.
The Prime Minister's visit to Japan reinforces the strategic focus of global partnership between India and Japan.
The RBI governor's assurance should give investors enough confidence to start believing in the NBFC sector again, say bankers.
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.
US retail major is in talks with Flipkart, Snapdeal, ShopClues and Grofers for partnership.
The New Year could well end up being the year of organised retailers.
'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.'
PNGRB, the oil regulator, which as per its enacting legislation has powers to levy fee, has levied a minimum tax of Rs 2 crore per annum on turnover that companies like GAIL and Reliance Industries earn from selling CNG to automobiles and piped natural gas to households and industries.
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.
The board of the energy giant is scheduled to consider the company's first quarter results for this fiscal, but could take up a few other issues pertaining to its retail venture launched last year, informed sources said.
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 Ltd, India's biggest firm by market capitalisation, is drawing up plans to convert its fuel retail outlets, which were recently closed owing to unviable operations, into malls and multiplexes.
Recent easing of restrictions does not address the pain in the sector.
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.
The big boys of India's traditional retail have finally come together to fight the onslaught of their online counterparts.
Apart from digital advertising revenue, both companies want to reach out to the 'next billion' Indian customers. After all, around half of the 1.3 billion population is still not on the net and this represents a challenge as well as an opportunity.
Mukesh Ambani-controlled Reliance Industries Limited is in talks with city-based industrialist Harshvardhan Neotia for making an entry into the retailing sector in West Bengal.
The strong correlation between its sales (revenue or turnover) and crude oil prices (average for the financial year) suggests that Ambani may be proved right.
If one compares returns, the two public-sector ETFs have done better over the past year, but the ELSS category has done better over the trailing three and five years.
E-commerce buyouts: Mahindra, Godrej to leverage on physical stores.
State-run Indian Oil Corporation is unlikely to renew its current agreement with Reliance Industries for lifting 25 per cent of Jamnagar refinery product for sale through its retail chain, beyond March 2004.
Social media platform Meta has appointed Vikas Purohit as Director of Global Business Group in India to lead the strategy and delivery of the charter that is focused on the country's leading advertisers and agency partners, the company said on Monday. Purohit will report to Arun Srinivas, director and head of ads business for Meta in India, it said in a statement. "I am thrilled to welcome Vikas as he joins our team to shape the role that Meta platforms can play in enabling businesses, supporting India's economic growth, and building the digital advertising ecosystem of the country," Srinivas said.
The price of diesel sold to bulk users has been hiked by about Rs 25 per litre in line with a near 40 per cent rise in international oil prices, but retail rates at petrol pumps remain unchanged, sources said. Petrol pump sales have jumped by a fifth this month after bulk users like bus fleet operators and malls queued up at petrol bunks to buy fuel rather than the usual practice of ordering directly from oil companies, widening the losses of retailers. Worst hit are private retailers like Nayara Energy, Jio-bp and Shell, who have so far refused to curtail any volume despite a surge in sales.
GE Money India said on Monday it is talking to big retailers including Bharti-Wal-Mart and Reliance for offering credit programmes such as the private label credit card it has provided to Tata Group.
The legal regime does not permit home delivery of medicines, tough owing to situation of COVID-19 pandemic and an emergency-like situation, the government allowed the home delivery of medicines but it was meant for only neighbourhood pharmacies, AIOCD said.
Among the Sensex firms, Wipro, Axis Bank, Titan, UltraTech Cement and HDFC Bank, HDFC, HCL Tech and Reliance were the gainers.
However, in the last few sessions, the stock of Mukesh Ambani-controlled Reliance Industries Limited (RIL), hit its 52-week low level of Rs 2269.75, and has been one of the worst performers among the Sensex pack thus far in calendar year 2023 (CY23). Thus far in CY23, RIL has tanked nearly 11 per cent as compared to a fall of around 5 per cent in the S&P BSE Sensex. The fall in the stock, according to Gaurang Shah, senior vice-president at Geojit Financial Services is mostly due to the overall dip in the market sentiment, which in turn has impacted large-caps, including RIL.
Oil to telecom conglomerate Reliance Industries (RIL) has initiated the process to seek shareholders' approval for the appointment of the third generation of the Ambani family on the company's board. The remote voting through postal ballot will start from September 27 onwards. In a separate note, CreditSights said a trust and hold-co model could be a possibility for the anticipated succession at RIL.
Reliance Industries, the country's largest LPG producer, will be spared from footing the Rs 7,200 crore (Rs 72 billion) bill for the one year freeze in LPG and kerosene prices, despite rising cost.
