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India’s biggest retailer Reliance will acquire dozens of small grocery and non-food brands as it targets building its own $6.5 billion consumer goods business to challenge foreign giants like Unilever, two sources familiar with the plan told Reuters.

Reliance Industries’s revenue has crossed $100 billion in fiscal 2022, becoming the first Indian company to reach the milestone. The Tata Group, a collection of over 30 companies across 10 verticals, had a revenue of $103 billion in fiscal 2021. The group’s fiscal 2022 numbers are yet to be declared.

Reliance Industries consolidated net profit jumped 22.5 per cent in the fourth quarter ended March 31, 2022, the company said in a regulatory filing on Friday. For the full fiscal 2021-22 (April 2021 to March 2022), Reliance reported a net profit of Rs 60,705 crore on a revenue of Rs 7.92 lakh crore ($102 billion). … Continue reading RIL 1st Indian co to hit $100bn revenue; Q4 profit up 22%

Reliance Industries (RIL) said on Saturday that it has called off the proposed deal to acquire Future Retail’s (FRL) assets for Rs 24,700 crore. At meetings of shareholders and creditors of Future Group companies comprising FRL and other listed entities involved in the scheme held on April 20 and 21, the companies intimated the results … Continue reading RIL scraps deal after ‘no’ by Future Retail’s lenders

Big Bazaar-parent Future Retail (FRL) on Friday said the meetings of its shareholders and creditors that are scheduled to be held on April 20 and 21 for the approval of its proposed deal with Reliance Retail are “legal” and conform to the directions issued by the National Company Law Tribunal (NCLT).

Shares of Reliance Industries Limited on Wednesday jumped nearly 2 per cent with its market valuation going past Rs 18 lakh crore mark. The market heavyweight stock climbed 1.94 per cent to settle at Rs 2,673 apiece on the BSE. During the day, it jumped 2.51 per cent to Rs 2,688.

Future Retail said on Wednesday it was committed to taking back its stores which were seized by rival Reliance, saying it had been surprised by the move. Reliance, India’s biggest retailer, stunned Future on February 25 with its staff suddenly showing up at many of Future’s biggest stores to assume control, in what was seen … Continue reading Future says will act to reverse store takeovers by RIL

Billionaire Mukesh Ambani’s Reliance Industries on Monday announced acquisition of assets of cobalt-free lithium battery technology company Lithium Werks for $61 million, as it builds technology and material wherewithal for setting up an end-to-end battery manufacturing.

Future Retail has informed the stock exchanges that it has received sub-lease termination notices from Reliance Group entities for 342 large format stores such as Big Bazaar, Fashion@Big Bazaar (fbb) and 493 small format stores such as easyday and Heritage stores of the company.

Shares of Reliance Industries Limited (RIL) on Wednesday jumped over 5 per cent after four days of decline. The market heavyweight stock rallied 5.24 per cent to settle at Rs 2,353.80 on the BSE. During the day, it jumped 5.81 per cent to Rs 2,366.70.

Reliance Industries (RIL), India’s largest listed company, reported a 38% rise in quarterly profit on Friday on the back of a one-off gain from the sale of its US shale business and strong performance by its oil-to-chemicals (O2C) and consumer (Jio & retail) units. Profit grew to Rs 20,539 crore in Q3FY22. It made a … Continue reading RIL posts 38% higher profit in Oct-Dec quarter at ₹20,539cr

Reliance Industries said it would invest Rs 5.95 lakh crore ($80.49 billion) to set up green energy projects and bolster its retail and telecom arms in the western state of Gujarat, as it targets net-zero carbon emissions by 2035.

In his first statement on succession plans, RIL chairman Mukesh Ambani on Tuesday said the younger generation is now ready to take on leadership roles, and emphasised that he would like the process to be accelerated. “We should guide them, enable them, encourage them… and sit back and applaud as they perform better than us,” … Continue reading Mukesh Ambani talks succession for 1st time as RIL chief

Four leading textile players — Mukesh Ambani’s Reliance Industries, B K Goenka’s Welspun, Sanjay Dalmia’s GHCL and Dinesh Kumar Himatsingka’s Himatsingka — placed bids for the bankrupt Sintex Industries, which weaves fabrics for global fashion brands like Armani, Burberry and Diesel.