Reliance entry to digitise 5 million kirana stores by 2023
NEW DELHI: Richest Indian Mukesh Ambani-led Reliance Industries’ entry into online retailing will help expand the current 15,000 digitised retail stores to over 5 million by 2023, a study of Bank of America Merrill Lynch said. As much as 90 per cent of India’s USD 700 billion retail market is unorganised, made up mostly of […]
Reliance asks Niko to exit from KG-D6 gas block over payment default
NEW DELHI: Reliance Industries Limited (RIL) has asked its partner Niko Resources to withdraw from eastern offshore KG-D6 gas block over default in payments for field development cost, but the Canadian firm has sought to stall the move by invoking arbitration, the companies said. Niko, which defaulted on payment of loans to its lenders, has […]
Reliance pips TCS to become most-valued firm
NEW DELHI: Shares of Reliance Industries (RIL) on Friday rose over 2% helping the oil-to-telecom major pip Tata Consultancy Services (TCS) to become the most-valued company in terms of market capitalisation. In afternoon trade on BSE, RIL’s market capitalisation was Rs 7,14,573.46 crore, while India’s largest IT firm by revenue TCS slipped to the second […]
Reliance plans Rs 3,000 crore fresh investment in Odisha
NEW DELHI: Reliance Industries Ltd will make a fresh investment of Rs 3,000 crore in Odisha, its chairman Mukhesh Ambani said in Bhubaneswar on Monday. RIL has emerged as one of the largest investors in the state having already invested Rs 6,000 crore there, he said. “We are committing to invest an additional Rs 3,000 […]
Reliance Industries posts record Rs 9,516 crore profit in Q2
NEW DELHI: Mukesh Ambani- led Reliance Industries Limited (RIL) on Wednesday reported its highest ever quarterly net profit of Rs 9,516 crore, a 17.4 per cent rise year-on-year, for the July-September period. The company reported a net profit of Rs 8,109 crore in the corresponding quarter of last fiscal. Its net profit stood at Rs […]
Ex-French President contradicted himself; Dassault chose Reliance on its own: Arun Jaitley
NEW DELHI: India’s Finance Minister Arun Jaitley Sunday said former French President Francois Hollande contradicted his own statement with regard to the Rafale deal and that neither the Indian nor the French government played any role in selection of Reliance as offset partner by Dassault. A political controversy has erupted over Hollande’s statement that the […]