Skip to main content

Reliance Industries Jumps As Retail Arm Secures Another Investment

 


Shares of Billionaire Mukesh Ambani-promoted Reliance Industries rose as much as 4.50 per cent to hit an intraday high of ₹ 2,309.40 on the BSE a day after its retail arm - Reliance Retail Ventures secured an investment of ₹ 5,512.50 crore from Abu Dhabi Investment Authority. Reliance Retail Ventures will sell 1.20 per cent stake in the company to Abu Dhabi Investment Authority, valuing the company at ₹ 4.29 lakh crore. The transaction, latest in a series of investments in Reliance Retail from global investors, is likely to bolster Reliance Industries' retail presence in the domestic market.

With this investment, Reliance Industries said its retail unit has raised a total of ₹ 37,710 crore from leading global investors, including Silver Lake and KKR, within four weeks.

Last week, Abu Dhabi-based state fund Mubadala invested ₹ 6,247.5 crore in Reliance Retail Ventures for 1.40 per cent stake in the company.

Reliance Industries has attracted a series of investments this year, which, along with a rights issue worth ₹ 53,000 crore, have helped the group become net debt-free much ahead of its goal of March 2021.

The group has been aggressively expanding its footprint in the domestic retail sector as it looks to attract potential investors over the next few quarters.

Last month, Reliance Industries forged a ₹ 24,713-crore deal to acquire rival Future Group's retail business. That deal followed its launch of JioMart, an online grocery service, In May, in a move aimed at rivalling Amazon's local unit and Walmart's Flipkart in the huge market.

As of 2:39 pm, Reliance Industries traded 3.61 per cent higher at ₹ 2,290, outperforming the Sensex and giving it a boost of 234 points.

Sandip Ginodia , CEO

ALTIUS INVESTECH PVT LTD

We deal in over 60 unlisted companies with 15 years of experience 

For latest prices visit : www.abhisheksecurities.com/unlisted.htm / call : 09830271248 .

Email : ginodiasandip1@gmail.com

Labels:

Comments

Post a Comment

Please leave your name and email id along with the comment .
Get the updates from this blog direct to your inbox . Fill in your email id on the home page.

Popular posts from this blog

Reliance's JioMart is averaging half a million orders per day; WhatsApp driving growth

  JioMart , Reliance's online-to-offline commerce  platform that launched in May , has scaled up rapidly, riding on the pandemic-fuelled digital acceleration. The service, which went   live in 200 cities across India, is currently processing an average of  500,000 orders per day. " We can go even higher on peak days",  Jio Platforms CEO   Kiran Thomas  revealed at the Facebook for Fuel India 2020 event. He said, "JioMart is empowering millions of  kiranas  and small merchants through the simple and secure platform of WhatsApp, and linking them to Reliance Retail's pan-India supply chain. We expect to grow manifold in future, and are optimistic about enabling new cohorts of users and making it easier for them to shop for daily essentials."  "Customers are transacting seamlessly on JioMart and the  conversational nature of the service  enabled by WhatsApp has made people adapt to it intuitively," he added. Reliance also stated th...
Post a Comment
Read more

Zomato, Swiggy score 1/10 on working conditions for their workers – ET Retail

Some of India's biggest startups have ranked near the bottom when it comes to  working conditions  for their gig  workers , according to a report released Wednesday. While  Swiggy ,  Zomato  and Uber India scored 1/10, Urban Company and Flipkart’s logistics arm EKart scored the highest 8/10 and 7/10, respectively, ‘ Fairwork India Ratings  2020: Labour Standards in the Platform Economy’  showed . The report assessed the companies on five principles: fair play, fair conditions, fair contracts, fair management, and fair representation. Deepinder Goyal, chief executive officer of Zomato Media Pvt. Ltd., acknowledged the ratings on Twitter. “Zomato ranked at the bottom of 2020 Fairwork India scores. We knew we had things to work on, but we didn’t know that there is so much room for improvement.” The company takes full responsibility and “will leave no stone unturned to perform better in the rankings next year,” he added. Zomato received a 4/10 in ...
Post a Comment
Read more

Times Internet posts 24% revenue jump to Rs 1,625 Cr in FY20

  Times Internet has posted a 24% jump in its annual revenue in the financial year ending March, recording Rs 1,625 crore in revenue in FY20. In its annual report, the company  said the revenue growth has been adjusted for seasonality of cricket events. In FY19, it had posted revenues of $196 million. The company has registered a surge across its revenue streams i.e. advertising revenue, subscribers, transaction revenue and gross merchandise value (GMV) in the last fiscal year. While advertising revenue grew 22% with faster growth in music and video, overall subscribers to Times Prime grew 62%.  Times Internet’s annualized GMV in transacting businesses grew 68% with a 75% jump in net revenues, said the company in its annual report. Its subscription and transactional businesses include Times Prime, Gaana Plus, TOI+, ET Prime, and Gourmet Passport.  Times Prime also crossed 2 million subscribers last year. “We broadened our media strategy beyond news, and we focused on...
Post a Comment
Read more