Mumbai: Kolkata-based steel tubes and pipes maker Jindal (India), part of the BC Jindal Group, has emerged as the sole bidder for debt-laden Future Enterprises (FEL) after a more than eight-month process. Jindal’s plan was the only one received by creditors till the end of business on Friday, the last date for submission of resolution … Read more
Mumbai|Kolkata: Qatar Investment Authority (QIA) agreed to invest ₹8,278 crore ($997 million) in Reliance Retail Ventures (RRVL) at an equity valuation of ₹8.2 lakh crore ($100 billion), making it the single largest investment by the sovereign wealth fund of the gas-rich country in India. RRVL, the holding company of Reliance Retail Ltd (RRL), had diluted … Read more
Ahead of the demerger and subsequent listing of Jio Financial Services Ltd (JFSL), parent company Reliance Industries today announced that Mukesh Ambani’s daughter Isha Ambani would join the financial services arm as a non-executive director. The 31-year scion, married to businessman Anand Piramal of the Piramal Group, is already a part of the executive leadership … Read more
Promoter Reliance Retail Ventures plans to sell 2% stake in through the open market by the end of this month in order to comply with regulatory requirements. Promoter and promoter group entities together hold 76.98% stake in Just Dial. As per regulatory norms, the total promoter holding in a company must not exceed 75%. Retail … Read more
NEW DELHI: Reliance Retail reported a 74 per cent growth in net profit in the second quarter of the current fiscal year to Rs 1,695 crore compared to Rs 973 crore for the same quarter last year, the company said on Friday. The company said its revenue for the July-September months was up to Rs … Read more
MUMBAI: Jefferies has initiated coverage on with a buy rating and a target price of Rs 2,600 as it sees the oil-to-telecom conglomerate as a proxy for India’s consumption growth story. The brokerage said that a transition from B2B to B2C and a potential stake sale in the O2C business will usher in the next … Read more
NEW DELHI: Future Retail Ltd on Tuesday reported a consolidated net loss of Rs 846.92 crore for the third quarter ended on December 2020 as business operations continued to be impacted by the pandemic during the quarter. The company had posted a net profit of Rs 164.56 crore in the October-December quarter a year ago, … Read more
Reliance Industries has said that it is not in the business of corporate or contract farming and has no plans to enter this business, the Mukesh Ambani-led conglomerate said in a statement on Monday, clarifying its position in the backdrop of the farmers’ protest. RIL said it is filing a petition later in the day … Read more
Mumbai: Oil-to-retail conglomerate Reliance Industries (RIL) said on Thursday that Mubadala Investment Company (Mubadala), the Abu Dhabi-based sovereign investor, will invest Rs 6,247.5 crore into its unit Reliance Retail Ventures Limited (RRVL) for a 1.40 per cent stake The investment values Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore. This marks … Read more
Export-oriented businesses like pharma, CRAM and the specialty chemicals will have exceedingly good growth even in FY21. But in FY22 and FY23, we expect a lot of these businesses to have very nice EBITDA and bottom line growth, says Sachin Shah, Fund (Portfolio) manager, Emkay Investment Managers. Some of the top stocks in your portfolio … Read more