Mukesh Ambani-led Reliance Retail on Friday said it would set up 55 stores for home appliances and electronic goods across the country over the next two years.
Mallya's comments came a day after country's largest lender, State Bank's Chairman O P Bhatt said that rising levels of stressed assets may push up defaults in the domestic banking system and banks need to enhance their risk management mechanisms to tackle the issue. However, BoB has a comfortable liquidity position and has its NPA levels under control, Mallya said, adding, "the bank has adequate headroom to raise capital but did not have any immediate plans to do so."
The market has remained in an upbeat state of mind, has come off its intra-day low and has finally ended the day in positive territory.
Rising prevalence of work-from-home and e-learning is driving sales of notebooks and tablets for most brands, but Apple's superior performance has more to do with its product quality.
The wider NSE Nifty too slipped from record but managed to close above the crucial 11,550 mark at 11,557.10 points, down 25.65 points or 0.22 per cent.
The market has remained in a mixed state of mind, has come off its intra-day high and has finally ended the day sharply in negative territory.
Among the sectoral indices, the BSE Consumer Durables soared 4% to 3,334.
Thomson holds 10 per cent stake in Videocon Industries through global depository receipts listed on the Luxembourg Stock Exchange. Thomson had acquired 13.5 per cent in Videocon in 2005 for Rs 1,250 crore (Rs 12.5 billion) of which 10 per cent was locked in for three years.
Big retailers say the events work, but others aren't sure.
Consumer durables major Videocon Industries has firmed up its telecom plans and is making an initial investment of Rs 6,000 crore for rolling out GSM services, notwithstanding spectrum and legal issues besieging the sector. The services will be launched through its subsidiary, Datacom Solutions, by May. In case of a delay in spectrum allocation, the company may opt for taking spectrum on lease.
Banks, Capital Goods, Auto, Realty, Metal, PSU, Consumer Durables, IT, FMCG & Healthcare have ended negative in varying degrees while no sector has ended in positive territory.
As a part of its localisation strategy, the $13.9 billion Chinese consumer durables major, Haier's Indian operations on Friday announced the acquisition of Daewoo Anchor Electronics in India.
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