Mukesh Ambani-owned RIL's JioMart is set to launch a slew of new products including financial services, electronics to airline tickets to take on the competition from upcoming rivals like the Tata Super app and other established players including PayTM, Amazon and Flipkart. This comes at a time when RIL's e-commerce revenues are set to grow by 35 per cent to $15 billion within four years and its core retail revenue is expected to grow at the same pace to $44 billion, as per a forecast by Goldman Sachs. "The Tata vs JioMart war will be the next big corporate battle to watch. "While Tata has an upper hand like in-house products and brands, RIL has the backing of global biggies like Google, Facebook and Microsoft," said head of a rating firm asking not to be quoted.
Rauf's central contract may be 'restored'
Business executives are finally dusting off their long-unused suitcases to resume travel, thanks to a good vaccination rate, a drop in fresh cases, and an easing of travel restrictions. It comes as a huge relief for the ravaged aviation, travel and hospitality sectors. "We are witnessing a 40 per cent recovery on pre-covid volumes from our business travellers, signalling the return of corporate confidence in air travel," said Indiver Rastogi, president & group head, Global Business Travel, Thomas Cook (India) & SOTC.
Properties located between Santa Cruz and Andheri in north west Mumbai are currently available at Rs 50,000 to Rs 100,000 per square feet, while in Dubai luxurious, fully furnished, properties are available at Rs 34,000 to Rs 60,000 per square feet of carpet area in the best locations.
Rahul Dravid says the just-concluded Sri Lanka series is an opportunity to reflect that not all wickets are going to be flat. 'We need to find ways to scrap and score 130, 140 on these wickets'
Indian Hotels, Tata Steel, Tata Teleservices, Tata Motors, Tata Power need some immediate attention of the Tata Group chairman
'Had they agreed to our demands that we raised two years ago, we would have never started our agitation again.'
Serbia has become one of the transit points for Indians heading to Canada and the US. Canada requires passengers from India to take an RT-PCR test from a third country, while the US wants them to spend 14 days outside of India. As a result, many students are taking the Serbia route to Canada, and the US.
During the trip, check your bank account and credit card statements regularly for unauthorised transactions.
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.
Outbound foreign direct investment last month was almost 47 per cent less than the $2.74 billion in November, according to the Reserve Bank data released on Wednesday.
The Taj Mahal hotel, ravaged during the 26/11 terror strikes, reopened on Sunday evening with its owner Ratan Tata dedicating the restored hotel to those who had lost their lives in the carnage."We cannot be knocked down--this is a memorable day and a tribute to those who saved many lives," an emotional Tata said, adding "it gives me a great sense of pride--this is the start of a new era."
This State-corporate 'cooperation' didn't begin with the arrival of the Modi government.
Many of the big licences, contracts, and even environmental clearances for the Adani group had come in the UPA's time, points out Shekhar Gupta.
Ram Babu is a Mahendra Singh Dhoni fan, whose presence does not go unnoticed at the venues where Indian team competes.
Company has submitted before the court that the plaintiff is attempting to attach property that falls outside of the jurisdiction of the court
Britain's Cairn Energy has secured a French court order to seize 20 Indian govt properties to recover arbitration award, it is learnt.
'By making it so public in the House of Commons, you know the reaction in India... Mr Modi is not very happy about it; you're kicking out Canadian diplomats; you suspended visa services for Canadians...'
The promoters of East India Hotels Ltd, owners of the Oberoi brand and the largest hotel chain after the Tata-owned Indian Hotels and ITC Welcome Group, are in advanced discussions with leading corporate houses and private equity firms to divest a strategic stake, possibly 26 per cent.
'With Trump, the relationship was very transactional, whereas with President Biden it is very structured.'
Roy and his associates were jailed in March after he failed to appear at a contempt hearing in the long-running dispute with the capital markets watchdog over the company's failure to repay billions of dollars to investors who were sold outlawed bonds.
Looking to put money in aviation, infrastructure and also to reduce debt of group companies.
India's first escalator, its shortest elevator, a terror attack, a rescue operation -- the building's seen a lot.
The most important positive of India's stealth bull market is earnings growth across different sectors, explains Debashis Basu.
'I am grateful that this film has happened, it makes me so proud of the country and of the Indian Army.' Brandy Batliwala, Field Marshal Sam Manekshaw's eldest grandchild, on the man behind the hero.
'We are hoping that in three-four days we will surely get a positive result.'
Since home-delivered meals from five-stars are cheaper by 15 to 20 per cent as compared to eating at the destination outside, food delivery has emerged as an important part of every restaurant's service portfolio.
Billionaire Gautam Adani's group was on Thursday hit by fresh allegations of associates of the promoter family using Mauritius-based 'opaque' investment funds to secretly invest hundreds of millions of dollars to fuel the spectacular rise in group stocks during 2013 to 2018, a charge the conglomerate denied vehemently.
The Tata group is strengthening the management super-structure within its group companies by extending the post of vice-chairman to three more companies - Tata Motors, Tata Steel and Tata Consultancy Services.
After Singapore this is the second such nodal office opened by the new group chairman.
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.
The Hospitality sector isn't showing any sign of recovery. The sector is nowhere near the growth it saw between 2004 and 2008.
PE firm True North's investment model is to take 51% stake in mid-sized companies and make them large, says Niraj Bhatt.
Several high profile companies are burdened with losses, mounting debt and have a huge load of operational costs.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The notices from the stock exchanges followed reports about Cyrus Mistry disclosing possible writedown to the tune of $18 billion faced by the conglomerate
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.
Concessional rate of tax on dividends received by Indian companies from foreign subsidiaries will be done away with from April 1, a change that may hamper global expansion of Indian companies and compel some firms to move their headquarters out of India to geographies such as Singapore and Dubai. At present, dividends received by Indian companies from their foreign subsidiaries are subject to a concessional tax rate of 15 per cent under Section 115BBD of the Income Tax (I-T) Act. The provisions of this section shall not apply from assessment year 2023-24 onwards, according to the Finance Bill.
