Tag: Future group

Tata Elxsi’s Net Profit Rises 39% YoY in Q4 – Top Indian Market News

Post author By marketfeed Team
Post date April 20, 2022

Tata Elxsi Q4 Results: Net profit rises 39% YoY to Rs 160 crore

Tata Elxsi Ltd reported a 39.95% YoY increase in net profit to Rs 160 crore for the quarter ended March (Q4 FY22). Its revenue from operations rose 31.51% YoY (or 7.3% QoQ) to Rs 681.7 crore during the same period. Tata Elxsi posted a 35% YoY increase in revenue to Rs 2,470.8 crore for FY 2021-22. Net profit stood at Rs 549.7 crore in FY22, up 49.3% YoY. The company’s board has declared a final dividend of Rs 42.5 per share.

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Future Group proposes to transfer 45% of its debt to Reliance: Report

Future Group has proposed to transfer 45% of its debt to the books of Reliance Industries Ltd on the sale of assets. However, lenders have not received any assurance from the hypermarket operator on whether the offer is endorsed by RIL. Against outstanding loans of Rs 28,921 crore owed by the 19 companies involved in the deal as of January 31, 2022, Future Group has proposed a transfer of Rs 12,612 crore owed to lenders and domestic & offshore bondholders to RIL.

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Alembic Pharma gets tentative approval for Ivabradine tablets

Alembic Pharmaceuticals Ltd has received tentative approval from the US Food & Drug Administration (USFDA) for Ivabradine tablets. The drug is indicated to reduce the risk of worsening heart failure in adult patients with stable, symptomatic chronic heart disease with left ventricular ejection fraction. According to IQVIA data, Ivabradine tablets had an estimated market size of $102 million for the 12 months ended December 2021.

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PSP Projects secured orders worth Rs 940 crore in FY22

PSP Projects Ltd received orders worth Rs 938.76 crore (including orders worth Rs 503.56 crore for the construction of a sports complex at Ahmedabad) in FY22. The total work orders at the end of FY 2021-22 stood at Rs 1,802.23 crore. The company has also secured orders worth Rs 327.4 crore in the current financial year (FY23).

ITC to commence 20th manufacturing facility in West Bengal

ITC Limited will set up a new state-of-the-art personal care manufacturing unit in Howrah, West Bengal. It will be ITC’s 20th facility in the state. The company is also in the process of commissioning a green building in the Rajarhat area. It will house the FMCG firm’s information technology arm ITC Infotech. Over the last few years, ITC has invested nearly Rs 4,500 crore in West Bengal.

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Cement demand expected to grow 7-8% in FY23

As per an ICRA report, cement demand in India is expected to grow by 7-8% to ~382 million metric tonnes in the current financial year (FY23). This will be aided by strong demand from rural housing and infrastructure sectors. The recent budgetary allocation of over Rs 9.2 lakh crore towards agriculture, affordable housing, and capital expenditure could boost cement demand.

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Mastek Q4 Results: Net profit rises 16.5% YoY to Rs 88.2 crore

Mastek Limited reported a 16.5% YoY increase in net profit to Rs 88.2 crore for the quarter ended March (Q4 FY22). Net profit grew 5.7% compared to the previous quarter. Its revenue from operations rose 20.3% YoY (or 5.4% QoQ) to Rs 581.5 crore during the same period. Mastek secured contracts worth more than $65 million in Q4 FY22. The IT company’s board has declared a final dividend of Rs 12 per share.

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Ajanta Soya’s board approves 5:1 stock split

The Board of Directors of edible oils manufacturer Ajanta Soya Ltd has approved a stock split in the ratio of 5:1. For every one share held, investors will receive five shares after the split takes place. The record date for the purpose of the stock split will be intimated in due course. A stock split happens when a company increases the number of its shares to boost the stock’s liquidity.

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Nykaa partners with Aveda to launch premium salon chain

Nykaa has partnered with haircare brand Aveda to launch a premium salon chain across India. The first Aveda X Nykaa salon will be launched in Bengaluru on Thursday, followed by Delhi and Mumbai. The stores will house spa rooms, manicure/pedicure stations, and hair & makeup stations. The salons will offer Nykaa’s best-selling products and Aveda’s haircare range.

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Domestic air passenger traffic rises 6.1% YoY in Q4

Domestic air passenger traffic in the January-March period (Q4 FY22) stood at 248 lakh, recording a 6.1% YoY growth. In March alone, domestic airlines carried 106.96 lakh passengers, a 36.7% YoY increase compared to Feb. IndiGo continued to maintain its leadership position in March with a market share of 54.8%. The data was released by the Directorate General of Civil Aviation (DGCA).

HDFC to sell 10% stake in HDFC Capital to ADIA

HDFC Ltd will sell a 10% stake in private equity arm HDFC Capital Advisors Ltd. to a wholly-owned subsidiary of Abu Dhabi Investment Authority (ADIA) for ~Rs 184 crore. ADIA is also the primary investor in the alternative investment funds managed by $3-billion HDFC Capital.

Tags alembic pharma, Future group, ITC, mastek, Nykaa, psp projects, Tata Elxsi

Market News Top 10 News

Coal India’s Output Grows 4% in Feb – Top Indian Market News

Post author By marketfeed Team
Post date March 1, 2022

Coal India’s output grows 4% to 64 MT in February

Coal India Ltd (CIL) produced 64.3 million tonnes (MT) of coal in February 2022, registering a growth of 4% YoY. On a month-on-month basis, CIL’s average production increased to 2.3 MT per day in Feb. The company’s production at 542.4 MT during the April-February period of FY22 was a historic high for this period. CIL expects to post the highest ever production by the end of the current financial year (FY22).

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Auto sales data for February 2022: Highlights

Maruti Suzuki India posted a 6.26% month-on-month (MoM) decline in total sales to 1,64,056 units in February 2022. Sales of its compact vehicle segment rose 8.19% MoM to 97,486 units. Exports increased by 34% MoM to 24,021 units.

Tata Motors Ltd registered a 1.95% MoM decline in passenger vehicle sales to 39,981 units in Feb. The automaker’s commercial vehicle sales rose 6.5% MoM to 37,522 units. Overall domestic sales rose 1.91% MoM to 73,875 units.

Mahindra & Mahindra’s auto segment posted total sales of 54,455 units in Feb, an increase of 16.34% over January. M&M’s farm equipment segment posted a 9.8% fall in sales to 20,437 units.

Escorts posted a 7.13% MoM growth in tractor sales to 6,114 units in February.

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BPCL to invest Rs 4,000 crore for gas distribution project in Aurangabad, Ahmednagar

Bharat Petroleum Corporation Ltd (BPCL) has launched a gas distribution network in the Aurangabad and Ahmednagar districts of Maharashtra. The company will invest Rs 4,000 crore for the completion of the project. BPCL plans to connect 3 lakh customers in the first phase and seven lakh in the next five years.

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Lupin launches generic drug in US market

Lupin Ltd has launched Sevelamer Hydrochloride tablets (800 mg) in the US market. The drug is used to treat hyperphosphatemia in patients with chronic kidney disease. The medication will be manufactured at the pharma company’s facility in Nagpur. As per IQVIA December 2021 data, Sevelamer Hydrochloride tablets had estimated annual sales of $75 million (~Rs 567.6 crore).

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Adani Group to acquire minority stake in Quintillion Business Media

Adani Media Ventures, a wholly-owned subsidiary of Adani Group, has entered into a binding term sheet with Quint Digital Media Ltd. The Adani Group will acquire a minority stake in local Quintillion Business Media Pvt Ltd (QBM), an indirect subsidiary of Quint Digital. The proposed transaction is only for QBM, a local digital business news platform. Adani will not acquire a stake in other digital media/tech properties owned by Quint Digital such as The Quint, thenewsminute, and Youthkiawaaz.

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Mumbai Court temporarily stops Future Enterprises from selling stake in insurance JV

The City Civil Court in Mumbai has temporarily restrained Future Enterprises Ltd from selling its stake in Future Generali India Insurance Co. Ltd to its joint venture partner Generali Group until further orders. The court was hearing a plea filed by IDBI Trusteeship Services Ltd (on behalf of its bondholders) for an injunction against Future Group. Debt-laden Future Group is facing trouble on multiple fronts. Recently, Reliance Industries seized control of over 300 large-format stores and shuttered them for alleged non-payment of rents.

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Parag Milk Foods hikes milk prices by Rs 2 per litre

Parag Milk Foods Ltd has raised the price of its Gowardhan brand of cow milk by Rs 2 per liter due to rising input costs. On Monday, Gujarat Cooperative Milk Marketing Federation (GCMMF) announced a hike in milk prices by Rs 2 per litre from March 1. GCMMF markets milk and milk products under the Amul brand. The rise in energy, packaging, and logistics costs has led to an increase in the overall cost of operation and milk production.

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Reliance Retail acquires majority stake in Abraham & Thakore

Reliance Retail Ventures Ltd (RRVL) has invested in Abraham & Thakore Exports Pvt Ltd (A&T) for a majority stake. RRVL will leverage Reliance Brands Ltd’s deep understanding of the affluent Indian customer and their influence across digital, retail operations, marketing, and supply chain platforms to build A&T’s global appeal in the fashion and lifestyle category.

Inox Leisure commences operations of multiplex in S Mall, Tumakuru

Inox Leisure Ltd has commenced commercial operations of a multiplex cinema theater at S Mall, Tumakuru in Karnataka. The multiplex has five screens and 1,069 seats. INOX is now present in 72 cities with 160 multiplexes, 675 screens, and a total seating capacity of 1.52 lakh across India.

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HCL Tech launches two new 5G applications

HCL Technologies Ltd has launched two new 5G applications to help mobile network operators optimize their customer experience. It will also help reduce energy consumption across their 4G and 5G infrastructure. The HCL ANA Platform is HCL’s next-generation network optimization solution that enables mobile operators to effectively manage their 5G and 4G services. HCL’s QoE application allows mobile network operators to provide seamless, fast, and reliable 5G services using artificial intelligence (AI).

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Tata Steel arm to acquire bio-ceramics firm Ceramat

Tata Steel Advanced Materials (TSMAL) has executed a share purchase cum shareholders’ agreement to acquire a 90% equity stake in Ceramat Pvt Ltd (CPL). TSMAL, a subsidiary of Tata Steel Ltd, will acquire 90% of the equity shares of CPL for Rs 90,000. The deal is expected to close in 60 days. CPL, a healthcare-focused ceramics company, is yet to commence production.

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Adani Green Energy’s unit gets LoA to set up 150 MW solar power project

Adani Renewable Energy Holding Fifteen Ltd (AREHFL) has received a letter of award (LOA) to set up a 150 megawatt (MW) solar power project. The fixed tariff for this project capacity is Rs 2.34 per kilowatt-hour (kWh) for a period of 25 years. With this project, Adani Green Energy Ltd has a total renewable energy project portfolio of 20.434 MWac.

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Tags Adani Group, auto sales data, BPCL, coal india, Future group, hcl tech, lupin, parag milk foods, Reliance Retail, tata steel

Market News Top 10 News

Tata Group Takes Over Air India – Top Indian Market News

Post author By marketfeed Team
Post date January 27, 2022

Tata Group takes over Air India after 69 years

The Tata Group has officially taken over Air India from the Indian government on Thursday. A consideration of Rs 2,700 crore has been received by the government as part of the divestment. “We are totally delighted to have Air India back at the Tata group,” said Tata Sons Chairman N Chandrasekaran. At present, Air India controls over 4,400 domestic and 1,800 international landing and parking slots at domestic airports.

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Canara Bank Q3 Results: Net profit jumps 115% YoY to Rs 1,502 crore

Canara Bank reported a 115.8% YoY jump in net profit to Rs 1,502 crore for the quarter ended December (Q3 FY22). Net profit increased 12.6% when compared to the previous quarter. Its net interest income (NII) rose 14.11% YoY (or 10.7% QoQ) to Rs 6,946 crore during the same period. The gross non-performing assets (GNPA) ratio stood at 7.8% in Q3 FY22, compared to 8.42% in Q2 FY22. The bank’s provisions fell 46.7% YoY to Rs 2,244 crore in Q3 FY22.

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BEL signs $73 million contract with US-based Hyperion Global

Bharat Electronics Ltd (BEL) has entered into a contract with Hyperion Global Group LLC to develop, manufacture, and supply Internet of Things (IoT) devices for the US market. BEL will manufacture and supply IoT devices worth $73 million to Hyperion during the first year of commencement of supply. The contract pairs Hyperion’s need to provide advanced connectivity solutions with BEL’s world-class engineering and manufacturing capabilities.

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Route Mobile Q3 Results: Net profit rises 28% YoY to Rs 48 crore

Route Mobile Ltd reported a 28.3% YoY increase in consolidated net profit to Rs 48.27 crore for the quarter ended December (Q3 FY22). Its revenue from operations rose 44.2% YoY to Rs 567.49 crore during the same period. The company’s board has declared an interim dividend of Rs 3 per share.

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LTI partners with IIT Madras for innovation in 5G space

Larsen & Toubro Infotech (LTI) has partnered with the Indian Institute of Technology (IIT) Madras for collaborative research in the field of 5G. The companies aim to innovate in the emerging 5G space, enable 5G frameworks validation, and test various use cases. LTI and IIT Madras will promote research towards the development of a low-cost, low-frequency 5G network setup for better connectivity in rural India.

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PNB Q3 Results: Net profit jumps 123% YoY to Rs 1,126 crore

Punjab National Bank (PNB) reported a 123% YoY jump in net profit to Rs 1,126.78 crore for the quarter ended December (Q3 FY22). Net profit increased by 2% when compared to the previous quarter. Its net interest income (NII) fell 6.1% YoY to Rs 7,803.2 crore during the same period. The gross non-performing assets (GNPA) ratio stood at 12.8% in Q3 FY22, compared to 13.6% in Q2 FY22.

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Future Enterprises to sell 25% stake in general insurance JV to partner Generali

Future Enterprises Ltd (FEL) will sell its 25% equity in Future Generali India Insurance Company Ltd (FGIICL) to its joint venture (JV) partner Generali Participations Netherlands NV. The transaction is for a cash consideration of Rs 1,252.96 crore. This move is part of Future Group’s asset monetisation plans to reduce debts. Generali has also acquired an option to buy out FEL’s remaining interest in FGIICL.

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L&T partners with HydrogenPro for manufacturing hydrogen electrolysers in India

Larsen & Toubro Ltd has partnered with Norway-based HydrogenPro to access its electrolyser technology to enter the green hydrogen market. As part of the agreement, L&T and HydrogenPro will set up a joint venture company in India to manufacture gigawatt-scale alkaline water electrolysers. The planned joint venture is part of L&T’s strategy to expand its presence across the green energy value chain.

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Laurus Labs Q3 Results: Net profit falls 44% YoY to Rs 154 crore

Laurus Labs Ltd reported a 44% YoY decline in net profit to Rs 154 crore for the quarter ended December (Q3 FY22). Its revenue from operations fell 20% YoY to Rs 1,029 crore during the same period. EBITDA stood at Rs 290 crore in Q3, down 17% YoY. The pharma company’s Q3 results were impacted by lower sales of active pharmaceutical ingredients (APIs) and formulations due to stocking at channel partners.

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M&M records 1 lakh bookings of XUV700, bills 14,000 units

Mahindra & Mahindra Ltd has clocked almost one lakh bookings of its latest sports utility vehicle XUV700 besides billing the first 14,000 units of the vehicle by January. In a statement, M&M said it is focusing on meeting its committed delivery timelines to customers despite dynamic supply chain issues.

In other news, Mahindra Electric Mobility has launched its new electric three-wheeler e-Alfa Cargo, priced at Rs 1.44 lakh. The launch marks the company’s entry into the rapidly growing e-cart segment.

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Coforge Q3 Results: Net profit rises 51% YoY to Rs 183 crore

Coforge Ltd reported a 51% YoY increase in net profit to Rs 183.7 crore for the quarter ended December (Q3 FY22). Net profit increased by 34.4% when compared to the previous quarter. The IT company’s revenue from operations rose 39% YoY (or 5.7% QoQ) to Rs 1,658 crore during the same period. EBITDA stood at Rs 246.7 crore, up 14.8% QoQ. Coforge Ltd’s board has declared an interim dividend of Rs 13 per share.

Tags bel, Canara bank, Future group, larsen & toubro, Laurus Labs, lti, Mahindra and Mahindra, punjab national bank, route mobile

Editorial

Reliance vs Amazon: The Future Retail War

Post author By marketfeed Team
Post date October 31, 2020

India’s retail market is estimated to be worth Rs 60 lakh crores in FY 2019-20 and is expected to grow at a CAGR of 10% over the next 5 years to reach Rs 90 lakh crores by FY 2024-25. Reliance and Amazon are indulging in a serious war to capture this retail market in India.

Reliance and Amazon have been pursuing to buyout the cash-strapped Future Group, which owns retail brands like Big Bazaar, HyperCity, etc. This deal can give access to around 1,800 stores across Future Group’s brands and subsidiaries such as Big Bazaar, FBB, Easyday, Central, which are spread across 420 cities in India.

Right after Reliance finalized its deal to acquire the Future Group for Rs 24,700 crores, Amazon opposed the deal and approached an international arbitration court to try and stall the deal. The court has given a temporary decision in favor of Amazon. A permanent injunction order is awaited. On the other hand, Reliance refuses to take a step back either. Let’s find out what the mess is all about.

Why is Amazon Opposed to the Reliance-Future Deal?

After Reliance finalized its deal to acquire the Future Group, Amazon approached the Singapore International Arbitration Centre(SIAC) to appeal against Reliance for buying out Future Group. Amazon stated that this would be a violation of a contract that Future and Amazon had signed when Amazon had acquired a 49% stake in Future Coupons Limited, in November 2019. This acquisition gave Amazon a 3.58% stake indirectly in Future Retail Limited.

Coming to the contract between the two companies, they had mutually agreed that Amazon would have an option to acquire all or a part of the Promoter’s Shareholding in Future Retail Limited in the near future, under certain circumstances. Additionally, Amazon would have the first right of offer. The Promoters had also agreed to not sell their stake to ‘specified persons’ and agreed to certain restrictions. We can get a smell of who the ‘specified persons’ might be.

Amazon says that according to the contract it has the first right of refusal. This means that a company can buy a stake in Future Retail only after Amazon refuses to buy it in the first place. The interpretation of the contract is debatable.

Is it a Retail War?

Reliance wishes to capture the e-commerce market through its brand JioMart(a subsidiary of Reliance Retail Ventures Ltd.), which was recently launched in January 2020. The company gained momentum during the COVID-19 lockdown. Amazon, on the other hand, wishes to acquire a better logistics, warehousing, and supply chain for its already existing e-commerce platform.

In January 2020, Future Retail and Amazon had ‘joined hands’ to ‘take-on’ Reliance’s JioMart.They were strategizing for a partnership and possibly an investment. The relationship between Amazon and Future was steady. Future saw hope in partnering with Amazon. However, Reliance offered to acquire the group for a lucrative amount which could prevent the company from going bust. The deal was too good to let go. Future Group jumped off Amazon’s Boat and got into Reliance’s Boat. At the same time, Reliance being an Indian entity faced no restrictions of Foreign Direct Investments(FDI), unlike Amazon.

Future Group might face insolvency and eventually shut shop: Arbitrations are long and lengthy, they aren’t as effective as litigation. Reliance has its own set of tricks up its sleeve. If the arbitration proceeding continues for long, Future Group won’t get the cash it needs. This means that it won’t be able to operate for long and eventually go bust. What would follow is a set of insolvency proceedings which would last long enough, such that neither Amazon nor Reliance would be able to acquire the assets. Since the assets would be auctioned off to pay back the debt that Future Group owes to its creditors. Essentially, this would be collateral damage.

Amazon was in talks with Reliance to buy a 26% stake in Reliance Retail in August 2019. In September, there were unconfirmed reports that Amazon was in talks with Reliance to acquire a 40% stake in Reliance Retail for $20 Billion(1.4 Lakh Crores). The deals didn’t go through. The liquidity would have allowed Reliance to get rid of its huge debt. However, with foreign investments flowing in Reliance managed to go net-debt free without giving Amazon a piece of its cake.

Not just Retail, there’s more to it: Reliance, Amazon, and Flipkart, the three major competitors, are all arms out against each other. All three own a food retail license, All three have their own OTT platforms, All three have their own UPI/Wallet payment services. All three have an established fashion brand. There could be more than just Retail in the picture.

Who Wins, Who Loses?

Reliance is an old and home-grown company, with a strong lobbying ground and sources in the government. Amazon on the other hand is a relatively newer foreign company with not as much lobbying power as Reliance. Amazon might therefore face problems on FDI and regulation even if things run in its favor. Reliance and Future have both come out in support of the acquisition. Reliance has stated that ‘it intends to enforce its rights and complete the transaction in terms of the scheme and agreement with Future group without any delay’. Reliance and Future both want to go forward with the deal.

Amazon faces a challenge since enforcement of emergency arbitration orders is contestable in the Indian court of law. Future Group or Reliance might approach the respective court and stall the interim order by SIAC. Whatever is the course of action needs to be taken fast, time is ticking.

Tags amazon, arbitration, Editorial, Future group, reliance, retail war, SIAC

Editorial

Reliance – Future Group deal

Post author By marketfeed Team
Post date September 10, 2020

India’s most valuable listed company with over Rs 14 trillion market capitalisation, Reliance Industries Limited announced the acquisition of Future Group for Rs 24,713 crore, aiming to boost its presence in the offline retail market. Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries Ltd, will acquire the retail & wholesale businesses and the logistics & warehousing businesses of the Future Group as going concerns on a slump sale basis which means that the Future group will transfer one or more undertakings to RIL as a result of the sale for a lump sum consideration (Rs 24,713 crore) without values being assigned to the individual assets and liabilities in such sales.

As a part of the acquisition, Future Retail, Future Lifestyle Fashions, Future Consumer, Future Supply Chains and Future Market Networks will merge into Future Enterprises Ltd (FEL). Shareholders of each companies will be allotted a fix number of shares of Future Enterprises Ltd subject to their holdings. Reliance Retail will then acquire Future Enterprises Limited businesses.

What’s in it for Reliance?

India’s retail market is expected to reach $1.3 trillion by 2025, compared to $700 billion in 2019, according to consultancy firm BCG and Retailer’s Association of India. Being the largest retailer in India, Reliance has over 11,000 stores across the country. Majority of Reliance Retail’s revenue is generated from consumer electronic segment which also accounts for nearly three-fourths of its overall store count. To compete with the global competitors like Amazon and Walmart, Reliance needed to boost its grocery and fashion & lifestyle segment in its retail arm which currently accounts for only 7% and 20% of the store count respectively.

Kishore Biyani who is known as “Father of India’s organised Retail”, understood the Indian market very well and brought the middle-class Indian consumer in his stores and retained the consumers. Big Bazaar and Easyday of Future Group made grocery shopping an event for the Indian consumers where they trusted the stores as they used to do with local kirana shops. Also, pricing was an important factor which Kishore Biyani realised was important to cater for attracting the consumers. He built the customer base over the last three decades and for Reliance it will be crucial to grow in this segment.

So, the answer to the acquisition of Future Group’s businesses is the Grocery and Fashion & Lifestyle segment. Reliance Retail will have access to around 1800 stores across Future Group’s Big Bazaar, FBB, Easyday, Central, Food hall formats, which are spread in over 420 cities in India.

Future Group after the acquisition:

Post the transaction, Future Enterprises Limited will retain the manufacturing & distribution of consumer products, fashion sourcing & manufacturing, insurance joint venture with Generalli and Textile partnership with NTC Mills. For Kishore Biyani, as a result of the agreement, he cannot enter the retail business for at least 15 years since the commencement of the deal.

Reliance Retail and Fashion Lifestyle Limited (RRFLL) also proposes to invest in Future Group post the acquisition at total sum of Rs 2800 crore in two ways,

Rs 1,200 crore in the preferential issue of equity shares of FEL to acquire 6.09 percent of post-merger equity.
Rs 400 crore in a preferential issue of equity warrants which, upon conversion and payment of balance 75 percent i.e. Rs 1200 crore, will result in RRFLL acquiring additional 7.05% stake.

Other Deals in Reliance Retail

To gain a significant market share in every segment it caters to, it has been expanding its fleet through acquisitions and new launches. In 2019, Reliance Brands acquired the British toy retailer Hamleys and Reliance Retail has the master franchise for the brand and operates across 29 cities. Also, the company launched JioMart – an online grocery service which will offer free express delivery of groceries from neighbouring local stores.

Recently, Reliance Retail announced an investment from Silver Lake worth $1.02 billion. It will grant Silver Lake a 1.75% stake in the entity and the deal values Reliance Retail at $57 billion.

Conclusion

With the recent acquisitions, Reliance Retail aims to widen the spread between the India’s largest retailer and the second largest retailer (Avenue Supermarts Limited). The Future Group’s retail and logistics will definitely give Reliance Retail an edge in grocery and fashion lifestyle segment. Amazon and Flipkart pose a threat to Retail with the online delivery of these products but in response to that, RIL has launched its JioMart. Thus, the future definitely looks promising for Reliance Retail.

Tags Editorial, Future group, reliance