While some like RPG's Spencer's and Wadhawan group's Spinach say it will encourage them to invest more in cold chains, others such as Aditya Birla Retail and Future Group said the announcement has come too late and helps fresh produce and chilled product suppliers more than retailers.
The supply chain for fast-moving consumer goods (FMCG) companies is seeing congestion due to persistently low demand. This has led to an increase in inventory days, with stocks accumulating at distributors and compelling them to extend higher credit periods to retailers. Distributors, Business Standard spoke to, revealed that demand inventory days have more than doubled in some cases, forcing them to offer credit terms as long as 45 days to retailers, as consumer offtake continues to face pressure.
The Bharatiya Kisan Union and the Mahila Aghadi have also opposed.
Kishore Biyani led-Future Group has filed a caveat before the Delhi high court requesting it to be heard if any plea is filed by e-commerce major Amazon over its Rs 24,713 crore deal with Mukesh Ambani-led RIL. Anticipating a move by Amazon, which had got an interim arbitration award in its favour, putting the announced deal on hold, the Future Group firm has moved the Delhi high court.
Kishore Biyani met Jeff Bezos, the founder and CEO of Amazon, in Delhi last week and "discussed many things like the macro environment and the prime minister"
Abu Dhabi-based sovereign wealth fund Mubadala Investment Co will invest Rs 6,247.5 crore to buy a 1.4 per cent stake in Reliance Industries Ltd's retail arm -- the billionaire Mukesh Ambani-led firm's third such deal in less than two days.
T E Narasimhan/Business Standard reports from Chennai on how the Future group plans to shore up its small store network in the South.
This is the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
The numbers in India may not be as big but the opportunity for serious growth is all there.
'A long-term investor with a 4 to 5 year horizon could invest in this theme via SIPs.'
Arun Maira who worked for 25 years with the Tata Group, remembers his early years with Ratan Tata.
'Future market gains will likely depend primarily on earnings growth.'
With an epic battle of billionaires for supremacy in one of the world's most prolific markets and a pandemic-propelled surge in online shopping in the background, India's nearly trillion-dollar retail market is hoping to touch 85 per cent of the pre-COVID business in the first half of the New Year. In a year when the COVID-19 carnage ripped apart the retail business, circa 2020 will best go down for the unravelling of the war between Jeff Bezos, the world's wealthiest man, and richest Indian Mukesh Ambani for pre-eminence in the booming market that is estimated to reach $1.3 trillion by 2025. It all started with Ambani's Reliance Industries agreeing in August to buy assets of the nation's second-largest retailer for Rs 24,713 crore, just a year after Bezos' Amazon purchased an indirect stake in the indebted Future Retail.
"For the first time in India, Sahara India Pariwar is setting up the largest FMCG company in the country with its own distribution network through over 10,000 franchisee outlets...," Sahara India said in a public announcement.
Geopolitical events, macroeconomic data and quarterly earnings of corporates would guide the stock market in a holiday-shortened week ahead, analysts said. Stock markets will remain closed on Wednesday for Ram Navami. "This week promises to be crucial for the market as fresh worries about a potential conflict between Iran and Israel emerge.
Some analysts believe convenience stores could be challenged by digital grocery in the future.
'When the bombing happened in the Taj Mahal hotel in 2008, that was a very sad moment, but he really took care of the people, took care of everybody and that was when you saw some of his best moments.' 'There are some things which we will never forget. That is when the best of a person comes out.'
Reliance Industries Ltd will acquire German firm Metro AG's wholesale operations in India for Rs 2,850 crore as the conglomerate run by billionaire Mukesh Ambani seeks to strengthen its dominant position in India's mammoth retail sector. "Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Ltd, signed definitive agreements to acquire a 100 per cent equity stake in Metro Cash & Carry India for a total cash consideration of Rs 2,850 crore, subject to closing adjustments," said a joint statement. Through this acquisition, Reliance Retail will get access to a network of Metro India stores located in prime locations across key cities, along with a large base of registered kiranas and other institutional customers, and a strong supplier network.
When the 60,000 sq ft Brand Factory mart in Bangalore, the Future Group's factory-surplus format which stocks 145 brands across lifestyle categories, notched up its millionth customer in less-than-a-year, the company knew it was on to a good thing.
Prices of food items like cereals, pulses, and edible oils rose or remained steady in May, a Reserve Bank of India (RBI) report said, indicating there could be another higher inflation print. However, it observed that the Monetary Policy Committee's (MPC's) surprise move to increase interest rates bodes well for its credibility. The RBI's monthly State of the Economy report, released on Tuesday, citing high frequency food price data from the Ministry of Consumer Affairs for the period May 1-12, said the increase in the prices of cereals was primarily because of the surge in wheat prices.
With inauguration of Tumkur food park, he has ambitious plans in the segment.
Kishore Biyani-promoted Future Group company Pantaloon Retail is hiving off four of its business divisions, including Big Bazaar and Food Bazaar, into independent subsidiaries, keeping the option open for listing them in future. The Board of Pantaloon Retail on Tuesday approved setting up of wholly-owned subsidiary companies for Big Bazaar, Food Bazaar, Speciality Retail Business Activities and Property and Mall Management Division.
India's rank was further amplified by the collapse of the South American and Russian economies.
Future Group and V-Mart have put in place systems to prevent panic buying at their neighbourhood grocery stores.
F&O trading is a zero-sum game where one person's loss is another's gain. Only one per cent of traders gained the money lost by 93 per cent, warns Harsh Roongta.
Fruits, vegetables and eggs continued to witness deflationary trend during January this year, with their prices declining 4.18 per cent, 13.32 per cent and 2.44 per cent, respectively.
CSD was created to provide easy access to quality products of daily use, at prices less than market rates to the soldiers, ex-servicemen and their families
Reserve Bank of India (RBI) is unlikely to cut the benchmark interest rate at its upcoming monetary policy review meeting, taking place soon after the announcement of the Lok Sabha election results, amid inflation challenges, said experts. The Monetary Policy Committee (MPC) may also refrain from rate cut as economic growth is picking up, notwithstanding the elevated interest rate of 6.5 per cent (repo) prevailing since February 2023. The meeting of the Reserve Bank Governor Shaktikanta Das headed MPC is scheduled for June 5 to 7.
Big chains such as Star Bazaar, Future Group and D Mart have set up separate shelves to sell products of Patanjali.
The largest upward contribution to the change in current index came from food group which increased by 1.22 per cent, contributing 1.64 percentage points to the total change. At item level, rice, arhar dal, fish fresh, poultry (chicken), milk, chillies green, garlic, ginger, tomato, root and green vegetables, tea leaf, tea (readymade), cigarette, country liquor prices, electricity charges, medicine (allopathic), and repair charges, are responsible for the rise in index.
While the talks are still at a preliminary stage, sources said major retail players had held discussions with Amazon
Under its door-step delivery model, consumers can shop at any of the three Future Group-owned convenience formats - Easyday, Nilgiris and Heritage - both online or offline.
Global retail behemoths seem to have read the signals right.
While festive season spends by consumers did contribute to the uptick seen in Q3, experts said greater aggression displayed by retailers to corner a larger share of the shopper's wallet also worked.
So far this year, bankers have earned Rs 1,226 crore for handling 45 IPOs, which together mobilised Rs 48,363 crore.
While Reliance has the clout to negotiate prices with suppliers for its e-commerce, not to forget the cost advantage of integrated warehouse and supply chains, Amazon and Walmart are no pushovers, they too have deep pockets.
Regulator seeks clarification on transfer of convertible debt after merger
Unprecedented rains and floods in the northern region in the past few days have not only caused extensive damage to lives and property but have also impacted business and commercial establishments. Vegetable prices have gone through the roof in the national capital and many other parts of the country since rains started pouring earlier this month. Traders say vegetable prices would come down only after roads open and skies clear, even as water in the fields will take time to recede.
