Reliance Retail’s contribution to RIL as Mukesh Ambani preps for fundraising will be key— aside from the oil shock
Reliance Retail is also poised to raise money from investors in a Jio-like format, and its earnings will set the ball rolling for many conversations. Retail made for a quarter of RIL’s revenue last year and it may get bigger — partly, due to the oil shock and partly, due to the efforts to increase focus on consumer businesses. While competing with the likes of Amazon and Walmart, Reliance Retail has to show that it could thrive during the pandemic and the resulting lockdown. Mukesh Ambani’s Reliance Industries (RIL) — with its businesses ranging from refining and petrochemicals to retail, media and telecom — has seen a bustling quarter. There is a lot of intrigue around the company and many of its plans including the proposed acquisition of rival retail Big Bazaar, the planned fundraising, as well as the progress of the e-commerce venture aside from oil slipping into negative for a short while during the last quarter. The digital business under Reliance Jio has already rai...