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Centre tells retailers to cut prices of pulses as wholesale prices have fallen Department of Consumer Affairs Secretary Nidhi Khare told the representatives of the Retailers Association of India on Tuesday that while the wholesale prices of Chana, Tur and Urad in major mandis had declined by up to 4 per cent in past one month, the retail prices have not seen a similar decline. She pointed out at the meeting that the diverging trends between wholesale mandi prices and retail prices, seem to suggest that retailers are deriving higher profit margins. Considering the ...
Centre tells retailers to cut prices of pulses as wholesale prices have fallen
Centre tells retailers to cut prices of pulses as wholesale prices have fallen
Source: IANS
2024-07-16 05:28:49 pm
Ambani`s Reliance to launch IPO-bound Shein in India, ET reports Indian bilionaire Mukesh Ambani's Reliance Retail Ventures will launch Chinese fast fashion label Shein in the coming weeks, selling the latter's products on its app and brick-and-mortar stores, The Economic Times reported on Thursday. The retail unit of Ambani's oil-to-telecom conglomerate Reliance Industries reportedly teamed up with the IPO-bound fashion brand last year and is likely to tap former Meta director Manish Chopra to head Shein's operations in India, the newsp...
Ambani`s Reliance to launch IPO-bound Shein in India, ET reports
Ambani`s Reliance to launch IPO-bound Shein in India, ET reports
Source: Reuters
2024-07-04 09:41:51 am
Shareholders of India's Reliance approve retail unit's $4 billion lease to Jio Financial Shareholders of India's Reliance Industries approved a deal worth $4.3 billion between its units Reliance Retail and Jio Financial Services (JFS), according to a disclosure with stock exchanges on Friday. JFS plans to acquire equipment worth 360 billion rupees from Reliance Retail, as the financial services provider plans to enter the device leasing business. Through the deal, JFS' unit - Jio Leasing Services - will buy customer premises equipment, devices and telecom equipment ...
Shareholders of India's Reliance approve retail unit's $4 billion lease to Jio Financial
Shareholders of India's Reliance approve retail unit's $4 billion lease to Jio Financial
Source: Reuters
2024-06-22 10:28:50 am
Jio Financial plans $4.33 billion deal with Reliance Retail Jio Financial Services (JFS) is seeking shareholder approval for its unit to acquire equipment worth 360 billion rupees ($4.33 billion) from the retail arm of Reliance Industries as the financial services provider plans to enter the device leasing business, a postal ballot notice said. Under the proposed deal, the JFS unit called Jio Leasing Services will buy telecom equipment and devices that usually include routers and cell phones. The JFS subsidiary will rent out the equipment it buy...
Jio Financial plans $4.33 billion deal with Reliance Retail
Jio Financial plans $4.33 billion deal with Reliance Retail
Source: Reuters
2024-05-24 04:17:44 pm
Reliance Retail records gross revenues of Rs 3.06 lakh crore for FY24 Reliance Retail has delivered a resilient performance with another year of strong revenue growth and profit. The business recorded gross revenues of Rs 3.06 lakh crore for the year FY24, a growth of 17.8 per cent over last year. It continued its strong track record of profit growth, registering an EBITDA of Rs 23,040 crore, higher by 28.5 per cent Y-o-Y for FY24. During the year, its EBITDA margin on net sales continued to show improvements and stood at 8.4 per cent, up 60 bps Y-o-Y. ...
Reliance Retail records gross revenues of Rs 3.06 lakh crore for FY24
Reliance Retail records gross revenues of Rs 3.06 lakh crore for FY24
Source: IANS
2024-04-23 10:37:55 am
Reliance Retail launches the 1st store of its premium fashion and lifestyle Brand, AZORTE in Delhi Continuing its retail expansion, Reliance Retail, India’s largest retailer, today announced the launch of the twelfth  store of its premium fashion and lifestyle brand, AZORTE at Vegas Mall, Dwarka. Spread across 13,000 square feet of retail space, this store will strengthen Reliance Retail’s commitment to a multi-format approach to cater to all consumer segments and disrupt the way the people of Delhi shop for international and contemporary Indian fashion. ...
Reliance Retail launches the 1st store of its premium fashion and lifestyle Brand, AZORTE in Delhi
Reliance Retail launches the 1st store of its premium fashion and lifestyle Brand, AZORTE in Delhi
Source: PR Agency
2024-04-11 11:54:12 am
Swadesh unveils a new space for Indian arts and crafts Indian arts and crafts have taken a giant leap forward with Mrs Nita Ambani, Founder and Chairperson of Reliance Foundation, inaugurating the first Swadesh store by Reliance Retail in Telangana on Wednesday. Born out of Reliance Foundation’s long-standing commitment to promote traditional artists and artisans and Mrs Ambani’s vision of creating a platform to showcase their talent and skill to a wider audience, Swadesh aims to revolutionise the way India’s age-old arts and...
Swadesh unveils a new space for Indian arts and crafts
Swadesh unveils a new space for Indian arts and crafts
Source: PR Agency
2023-11-09 05:08:51 pm
SBI Card & Reliance Retail Come Together to Roll Out Reliance SBI Card SBI Card, India’s largest pure-play credit card issuer and Reliance Retail, India’s largest retailer, have come together to launch the co-branded ‘Reliance SBI Card’. This one-of-itskind lifestyle-focused credit card offers a holistic and rewarding shopping experience to customers across segments with varied spending needs, right from mass to premium. The card enables cardholders to unlock rewards and benefits while transacting at Reliance Retail’s extensive and ...
SBI Card & Reliance Retail Come Together to Roll Out Reliance SBI Card
SBI Card & Reliance Retail Come Together to Roll Out Reliance SBI Card
Source: PR Agency
2023-11-01 10:45:42 am
India'`s SBI Card ties up with Reliance`s retail arm for credit card SBI Cards and Payment Services and the retail unit of billionaire Mukesh Ambani's Reliance are set to launch a co-branded credit card on India's homegrown RuPay payment network, the companies said on Tuesday. The partnership marks Reliance's foray into the credit card space and comes months after Ambani separately listed its financial services business as it seeks to diversify its already sprawling oil-to-retail business. SBI Card could lure customers with access to rewards ...
India'`s SBI Card ties up with Reliance`s retail arm for credit card
India'`s SBI Card ties up with Reliance`s retail arm for credit card
Source: Reuters
2023-11-01 09:35:18 am
Reliance Retail delivers strong performance with Rs 77,148 cr gross revenue for Q2 FY24 Reliance Retail delivered strong performance with gross revenue recorded at Rs 77,148 crore for Q2 FY24, a growth of 18.8 per cent Y-o-Y led by well-rounded growth across consumption baskets. Grocery and Fashion & Lifestyle businesses maintained strong growth momentum while Consumer Electronics had a steady performance despite festive period falling in Q3 FY24. Business posted an EBITDA of Rs 5,820 crore, up by 32.2 per cent on a Y-o-Y basis. EBITDA before Investment Income was reco...
Reliance Retail delivers strong performance with Rs 77,148 cr gross revenue for Q2 FY24
Reliance Retail delivers strong performance with Rs 77,148 cr gross revenue for Q2 FY24
Source: IANS
2023-10-28 09:46:59 am
Indian billionaire Ambani's Reliance Retail to raise $598 million from ADIA Billionaire Mukesh Ambani's Reliance Retail Ventures said on Friday it would raise 49.67 billion rupees ($598 million) from the Abu Dhabi Investment Authority, in the latest bet on India's largest retailer ahead of a potential stock market listing.The investment by ADIA at a valuation of $100.8 billion will translate into a stake of 0.59% in the company, the retail unit of oil-to-retail conglomerate Reliance Industries said in a regulatory filing.Reliance Retail, with more than 18,000 stores ...
Indian billionaire Ambani's Reliance Retail to raise $598 million from ADIA
Indian billionaire Ambani's Reliance Retail to raise $598 million from ADIA
Source: Reuters
2023-10-07 09:12:21 am
India's Reliance Retail in $1.5 billion Gulf, Singapore funds talks India's Reliance Retail is in talks with existing investors including the sovereign wealth funds of Singapore, Abu Dhabi and Saudi Arabia for combined new investments of around $1.5 billion, three sources with direct knowledge of the plan said.Reliance Retail is India's largest retailer and is led by Asia's richest person Mukesh Ambani. The talks with investors are part of an internal target to raise $3.5 billion which the company wants to close by the end September, Reuters has reported. Of ...
India's Reliance Retail in $1.5 billion Gulf, Singapore funds talks
India's Reliance Retail in $1.5 billion Gulf, Singapore funds talks
Source: reuters
2023-09-14 09:31:22am
Exclusive-India`s Reliance Retail in talks with Gulf, Singapore funds on $1.5 billion injection  India's Reliance Retail is in talks with existing investors including the sovereign wealth funds of Singapore, Abu Dhabi and Saudi Arabia for combined new investments of around $1.5 billion, three sources with direct knowledge of the plan said.Reliance Retail is India's largest retailer and is led by Asia's richest person Mukesh Ambani. The talks with investors are part of an internal target to raise $3.5 billion which the company wants to close by the end September, Reuters has reporte...
Exclusive-India`s Reliance Retail in talks with Gulf, Singapore funds on $1.5 billion injection
Exclusive-India`s Reliance Retail in talks with Gulf, Singapore funds on $1.5 billion injection
Source: Reuters
2023-09-13 04:32:08pm
Investment firm KKR to invest Rs 2,069cr in Reliance Retail Ventures at equity value of Rs 8.36L cr Reliance Retail Ventures Limited (RRVL) announced on Monday that global investment firm KKR, through an affiliate, will invest Rs 2,069.50 crore into RRVL, a subsidiary of Reliance Industries Limited.This investment values RRVL at a pre-money equity value of Rs 8.361 lakh crore, which makes it among the top four companies by equity value in the country.KKR?s follow-on investment will translate into an additional equity stake of 0.25 per cent in RRVL on a fully-diluted basis. This, combined wi...
Investment firm KKR to invest Rs 2,069cr in Reliance Retail Ventures at equity value of Rs 8.36L cr
Investment firm KKR to invest Rs 2,069cr in Reliance Retail Ventures at equity value of Rs 8.36L cr
Source: IANS
2023-09-12 11:51:40am