Global funds, according to Christopher Wood, global head of equity strategy at Jefferies, are now beginning to pay more attention to India with the market now offering 30 companies with a market capitalisation over $25 billion.
Despite presiding over scores of factories in what is today India's largest garment exporter with 105,000 employees, Ahuja is a modest man with much to be immodest about. He tells Rahul Jacob that the government needs a free trade agreement with Europe fast to ensure a level-playing field with Bangladesh and Vietnam.
Christopher Wood, global head of equity strategy at Jefferies has rejigged his equity portfolios. In his Asia ex-Japan long-only portfolio, he has added Axis Bank (5 per cent weightage) and increased holding in Larsen & Toubro (L&T) by one percentage point. This, Wood said, will be paid for by removing the investment in ICICI Lombard General Insurance and reducing the investments in HDFC Bank and Reliance Industries (RIL) by one percentage point each.
The primary problem is that India's garment factories are too small and they typically have 150 people and about 80 machines.
Reliance Industries chairman Mukesh Ambani might have made news for purchasing the most expensive beach-side villa in Dubai recently, but he is not the only Indian eyeing the city for investment. Since Dubai allowed foreign investors full ownership in specific sectors in June 2021, a horde of Indian companies have moved or expanded into the desert city. The list even includes a kindergarten, an elementary and middle school, and a hotel that has sought 100 per cent ownership.
Nestle was the top loser in the Sensex pack, shedding over 2 per cent, followed by Maruti, Bajaj Finserv, Bajaj Auto, TCS and L&T. NSE Nifty slipped 8.60 points to 17,353.50.
'A change we have seen after the Russia-Ukraine war is the energy crisis in Europe.' 'Earlier, in Europe, people used to change their clothes after 5 washes, now they are using it till 15-20 washes.' 'They used to change their entire wardrobe after 2 months or so, but because of the economic conditions, it has changed.' 'It has affected exports as 40% of our exports is to Europe, 30% to the US and 10% to the UK.' 'The war has to end for better days to come.'
Dhirubhai Ambani lived in a one-room chawl in Mumbai with his wife and children and went on to establish the Reliance Group.
Billionaire Mukesh Ambani's Reliance Industries has announced the contours of carving out of its oil-to-chemicals (O2C) business into an independent unit with a USD 25 billion loan from the parent, as it looks to unlock value by selling stakes to global investors like Saudi Aramco.
With the objective of making India a manufacturing hub for domestic and foreign companies, Prime Minister Narendra Modi on Thursday launched the 'Make in India' initiative.
Reliance had been trying to bring the brand back to the forefront recently, after years of lull, through new ad campaigns highlighting a youthful range, called Unformal, in workwear.
Experts say Biyani will now become a contract manufacturer of fashion and FMCG products, with the Reliance group being one of his customers.
'We would like to develop Andhra Pradesh into a logistics hub not only for India, but also for South Asia.'
FutureBrand, which is a global brand transformation company, said part of Reliance's success could be attributed to Mukesh Ambani's recasting of the firm as a one-stop-shop for Indians.
Equity benchmark Sensex tumbled over 273 points on Tuesday, tracking losses in index majors Reliance Industries, Dr Reddy's and Axis Bank amid a massive selloff in Chinese markets. Despite opening on a positive note, the 30-share BSE index turned red to end 273.51 points or 0.52 per cent lower at 52,578.76, while the broader NSE Nifty fell 78 points or 0.49 per cent to 15,746.45. Dr Reddy's was the top loser in the Sensex pack, plunging over 10 per cent, after the company reported s 36 per cent decline in consolidated net profit at Rs 380.4 crore for the quarter ended June 30, 2021, on account of higher expenses.
Corporate India is more dependent than before on exporters of IT services such as Tata Consultancy Services (TCS), Infosys, and Wipro for earning foreign exchange. Such companies account for nearly 43 per cent of the forex revenues of listed firms, up from 22 per cent a decade ago. The listed IT services companies earned nearly Rs 4.2 trillion through exports in FY22, up 15 per cent from the Rs 3.65 trillion a year earlier. In comparison, the forex revenues or exports of the rest of the BSE500 companies were down 11.9 per cent to Rs 5.6 trillion last financial year.
According to the agreement, RIL will transfer its existing textile business under the Vimal brand into a newly incorporated company in which RIL will hold 51 per cent stake. The remaining 49 per cent stake will be sold to Ruyi.
India's most valuable company Reliance Industries was once fined for producing more than its licensed capacity, its owner and richest Indian Mukesh Ambani said on Monday as he pitched for a push to manufacturing to make the country 'Aatmanirbhar' or self-reliant.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
"Everything we consume, we have to consume responsibly," the textile minister said at Lakme Fashion Week.
Mukesh Ambani joined Reliance in 1981 and initiated Reliance's journey from textiles into polyester fibres and further into petrochemicals, petroleum refining and going up-stream into oil and gas exploration and production.
During his lifetime and after, Ambani aroused extreme responses in others.
The Rs 300-crore (Rs 3 billion) Vimal textile brand, launched 27 years ago by Reliance Industries, is preparing for a major comeback this April.
'India's future: To manufacture so efficiently that we do not need protection,' says Naushad Forbes.
Vimal also plans to emerge as the leading textile brand by 2009-10, on the back of an aggressive retail presence all over India and the introduction of innovative premium products. The brand will also offer complete solutions to export markets -- from fibre to garments -- and will sharpen focus on the global automotive furnishing business.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Currently, Reliance outsources a bulk of the apparel needs of its three Vimal sub-brands, Black, White and Red. But, it is keen on establishing a manufacturing base for specialised garments such as suits and jackets. The new facility is likely to come up in south India in the next 6-9 months, said Reliance executives. However, the capacity details of the facility will be divulged later.
Dr Bhabha and Dr Sarabhai didn't feel guilty for their ambitions; it was for those 'mad scientists' that India is a powerhouse -- both at the atomic level and in the vastness of space, observes Kumar Abishek.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
'India has an advantage because we produce more cotton and we have more workforce.'
Established in 1989, Hualon is an integrated polyester-to-textile maker with half a million tons of polyester capacity, 250,000 spindles for spun yarn and facilities for weaving and processing of 5,800 shuttle-less looms.
Vimal was a pioneer in making TV commercials for fabrics, the first to use Bollywood stars and cricketers as brand ambassadors and among the earliest to start a national retail chain. What happened to it?
The world is full of family businesses that withered away with the passing of generations, creating much bitterness and ill will. Entire clans that used to be household names have become pale shadows of their once-mighty empires.
Promoters have consolidated their stake in Reliance Industries Ltd by picking up a 2.02 per cent stake in it through open market transactions, taking their total share in the company to 49.16 per cent.\n\n
Union Minister of Commerce and Textiles Piyush Goyal has stirred up a hornet's nest by taking on India Inc, specifically the Tata group, which is among the companies that lobbied against the Modi government's pro-consumer draft e-commerce policies. While Goyal's comments, made at a Confederation of Indian Industry (CII) event, were streamed live on YouTube, the industry lobbying body later edited the video and subsequently withdrew the entire speech. Goyal had said the Tata group and other Indian companies often lobbied for their interest, while ignoring national interest.
Bhaichung said he is proud to represent Sikkim at the 13th edition of Sustainable Fashion Day.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
India seeks greater market access for its products including textiles, pharmaceuticals and bovine meat.
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