The consumer businesses were the saviour. Margins in retail improved and Jio’s quarterly performance remains robust.
As of March 31, Reliance Retail also operates more than 8,000 Digital and Jio Stores put together.
Hamleys, named after its founder William Hamley, is the oldest, largest toy retailer established in 1760 in High Holborn, London
Textile minister Smriti Irani said the initiative aims at exploring the synergy between culture and textiles and the initiative will be extended to rest of the country.
Reliance Retail is an opportunity waiting to be unlocked.
RIL Chairman Mukesh Ambani reiterated that Gujarat is Reliance's "janmabhoomi and our karmabhoomi."
Reliance Jio and Reliance Retail were standout performers for Reliance Industries in the second quarter.
Ambani noted that Reliance Industries was India's largest payer of GST, excise and customs duty, and income tax and stressed that Jio has doubled its customer base to 215 million users within 22 months since the official launch of the network.
The markets are factoring in the value from the retail division of Reliance Industries in the latter’s price.
Reliance Retail, which crossed USD 10 billion sales and became the first Indian company to enter the world's top 200 retail chains, would continue to expand network in tier II and III cities in the country.
The company acquired 19,04,781 shares of KTI, mobile operating system provider, at USD 3.675 per share, Reliance Retail said in a statement.
Consolidation would be the name of the game in e-commerce space next year, with small firms shutting shop, leaving fewer players in an environment of intense competition, former CFO of Infosys T V Mohandas Pai said.
All PoS terminals or machines launched after July 1 will be Aadhaar-enabled and the existing terminals will be upgraded to the same in a year’s time.
The company has also has plans to add 500 to 600 fuel stations and the combined business expansion cost is estimated at Rs 2,500 crore, property market sources told the newspaper.
The said transaction is subject to the regulatory approval and other conditions and procedures that are customary for similar transactions.
The company has executed a binding agreement for the acquisition. The proposed transaction is subject to regulatory approvals and other conditions and procedures that are customary for similar transactions, Heritage Foods said in a BSE filing.
The retail arm of Reliance Industries Ltd (RIL) had reported a PBDIT (profit before depreciation and income tax) of Rs 201 crore in the same period of last financial year.
The two phones -- Pixel and Pixel XL -- will be available in India, priced at Rs 57,000 onwards, in 32GB and 128GB versions. The eagerly awaited smartphones replace the existing Nexus line.
As the company right sizes its chain of jewellery stores, run under Reliance Jewels brand name, a Reliance Retail spokesperson said, "Reliance as a group is committed to the retail business and its valued stakeholders."
Reliance Retail's turnover jumped by 45.80 per cent to Rs 6,666 crore in the quarter under review as against Rs 4,572 crore in the year-ago period, Reliance Industries said in a regulatory filing.
"Achieving about 7 percent market share of the estimated 137 million smartphone sales in FY17 will mean sales of 10 million units. This could make LYF a USD 1 billion brand using an ASP (average selling price) of USD 100," CLSA said.
The two devices represent one of the most affordable and superior entry-level smartphones in the Indian market, said a press release by Reliance Retail.
"We have been getting into new categories and we will be getting into sparkling drinks with juices. We are now getting into dairy segment with Vio in two flavours in the value added dairy category," Coca Cola India & South West Asia President Venkatesh Kini told reporters here.