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It was a short four-day week identical to the previous one, with a mid-week holiday on Wednesday. Markets were under pressure and lost on three of the four trading days. The BSE <keyword id="6484188" type="PERSON" weightage="20" keywordseo="sensex">SENSEX</keyword> lost 953.58 points or 1.95% to close at 47,878.45 points while <keyword id="6354813" type="COMPANY" weightage="20" keywordseo="Nifty">NIFTY</keyword> lost 276.50 points or 1.89% to close at 14,341.35 points. The broader market saw BSE100, BSE200 and BSE500 lose 1.86%, 1.71% and 1.58% respectively. BSEMIDCAP lost 1.01% wile BSESMALLCAP lost a mere 0.06%. The top performing sector was BSEHEALTHCARE which gained 1.36% while the worst was BSEREALTY which was down 3.45%. Dow Jones lost 174.41 points or 0.51% to close at 34,043.49 points. There seems to be confusion in the US markets and they seem to be alternating between losses and gains on alternate days as was witnessed last week. Markets on a daily basis saw negative 123 points on Monday, negative 256 points on Tuesday, positive 316 points on Wednesday, negative 321 points on Thursday and positive 228 points on Friday. The lifetime high was 34,257 points. Concern at this point of time is the imposition of capital gains tax by the Biden administration of a steep 43% which is likely in the coming days. The Indian Rupee lost 66 paise or 0.89% to close at ₹ 75.01 to the US Dollar. Results season continue to throw up impressive results so far. ICICI Bank reported more than doubling of its net profit for the full year 2020-2021, even as the fourth quarter saw the profits move up more than 2.6 times. Profit for the year was at ₹ 16,192 crore versus 7,930 crore. Similarly for the fourth quarter it was at ₹ 4,402 crore versus 1,221 crore. <keyword id="45442" type="COMPANY" weightage="20" keywordseo="Reliance-Industries-Limited">Reliance Industries Limited</keyword> would announce its results on Friday the 30th of April. This week would see the top companies of the benchmark indices almost completing announcing their results and then the results from the next bunch of companies which would also include the not so good results would begin to be announced. Shares of Macrotech Developers Limited listed on the bourses on Monday the 19th of April. With mayhem on the streets, the share was quite resilient and closed with minor losses of ₹ 22.85 or 4.70%. They gained during the remaining part of the week and closed at ₹ 530.55, a gain of ₹ 44.55 or 9.17%. The situation on the Covid-19 front which had turned worrisome continues to dominate news across India. <keyword id="13126" type="COMPANY" weightage="20" keywordseo="Maharashtra">Maharashtra</keyword> which was one of the worst affected states, seems to be improving with the number of daily cases dropping or not showing any further signs of increasing. While one cannot say with certainty that the worst is behind us, it can be said that things cannot get any worse from here on in some states. Secondly with the awareness now becoming clear to all, there seems to be better following of protocols and procedures. The world saw 14,70,91,849 patients, 31,13,284 deaths and 12,47,30,121 patients recovering. In India we saw 1,69,60,172 patients, 1,92,311 deaths and 1,40,85,110 patients recovering. Compared to the previous week the world saw, 57,67,943 new patients, 89,222 deaths and 48,02,430 people recovering. In India we saw, 21,72,063 new patients, 15,143 deaths and 12,75,467 patients recovering. The week ahead sees April futures expiring on Thursday the 29th of April. Currently the series is ahead by a mere 16.45 or 0.11% points and could go in either direction. The week would see trading on all five days this week. This series could go in either direction at this point of time but looking at the market technical and sentiment, it appears that the bears would have an upper hand. Readers would recall that over the last couple of weeks I was taking of a band of 48250-50500 on the BSESENSEX and 14250-14900 on the NIFTY. This band has now changed with lower values to read as 46500-49200 on BSESENSEX and 13750-14500 on NIFTY. This implies that markets would continue to be range bound but the range has moved down with markets losing their momentum and shifting their base downwards. It could also be said that their ability to hold on to gains has diminished and they are trading with a negative bias. The week ahead would continue to be volatile and market movement would be influenced by global cues, results from companies and the <keyword id="8764262" type="COMPANY" weightage="20" keywordseo="covid">Covid</keyword> situation in India. Foreign institutional investors seem to be churning their portfolio and they no longer seem to be one-way buyers. In such a scenario it makes sense to be patient in the marketplace, sell on rallies and wait for sharp dips before cherry picking stocks. Be patient and bide your time for a bad day as markets are unlikely to run away anytime soon. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/indian-corporates-vcs-and-startups-are-now-looking-to-charter-flights-and-import-oxygen-cylinders-and-concentrators-into-the-country/articleshow/82230785.cms">Indian corporates, VCs and startups are now looking to charter flights and import oxygen cylinders and concentrators into the country</a> <a href="https://www.businessinsider.in/thelife/news/zerodha-nithin-kamath-says-its-time-to-pack-up-and-move-from-indias-large-cities-and-permanently-work-from-home/articleshow/82230947.cms">An Indian billionaire says it’s time to pack up and move from India’s large cities and permanently work from home</a> <a href="https://www.businessinsider.in/science/health/news/drugs-used-to-combat-covid-19-what-works-and-what-doesnt/articleshow/82231193.cms">Drugs used to combat COVID-19 ⁠— what works and what doesn’t</a> <a href="https://www.businessinsider.in/science/health/news/how-to-wear-double-masks-surgical-mask-cloth-mask-in-second-wave-of-covid-19/articleshow/82231342.cms">Double masks for COVID-19 – how to wear them and other things you should know</a>

COVID crisis, Reliance earnings, a mid-week market holiday — all the things that might affect Sensex next 5 days

Billionaire Mukesh Ambani's <keyword id="6487" type="DOMAIN" weightage="20" keywordseo="Reliance-Industries-Ltd">Reliance Industries Ltd</keyword> has bought Britain's iconic country club and luxury golf resort, Stoke <keyword id="6379196" type="COMPANY" weightage="20" keywordseo="PARK">Park</keyword>, for 57 million pounds (about ₹592 crore). The acquisition adds to <keyword id="10926" type="COMPANY" weightage="20" keywordseo="Reliance">Reliance</keyword>'s current stake in Oberoi hotels and hotel/managed residences in Mumbai that it's developing. Over the past four years, Reliance has announced USD 3.3 billion in acquisitions with 14 per cent in retail, 80 per cent in technology, media, and telecom (TMT) sector, and 6 per cent in energy. The UK-based firm, which owns a hotel and golf course in Buckinghamshire, UK, will add to Reliance's consumer and hospitality assets, the firm said in a filing late on Thursday. "Reliance Industrial Investments and Holdings Ltd (RIIHL), a wholly-owned subsidiary of <keyword id="45442" type="COMPANY" weightage="20" keywordseo="Reliance-Industries-Limited">Reliance Industries Limited</keyword>, has on April 22, 2021, acquired the entire issued share capital of Stoke Park Limited, a company incorporated in the United Kingdom, for 57 million pounds," it said. Stoke Park Limited owns and manages sporting and leisure facilities in Stoke Poges, Buckinghamshire, UK. The facilities include a hotel, conference facilities, sports facilities and one of the highest rated golf courses in Europe. "RIIHL will look to enhance the sports and leisure facilities at this heritage site, while fully complying with the planning guidelines and local regulations," Reliance said. This acquisition will add to the consumer and hospitality footprint of the oil-to-telecom conglomerate. The group already has investments in EIH Ltd (Oberoi Hotels) and is developing state-of-the-art convention centre, hotel and managed residences in BKC Mumbai. This is the second major acquisition of an iconic British company by Ambani, 64. He bought British's iconic toy store Hamleys in 2019, to strengthen its retail footprint. Stoke Park has always had a close relationship to Pinewood Studios and the British film industry. Two James Bond movies -- Goldfinger (1964) and Tomorrow Never Dies (1997) were filmed at Stoke Park. The epic duel between James Bond (<keyword id="6528947" type="COMPANY" weightage="20" keywordseo="sean-connery">Sean Connery</keyword>) and Goldfinger (Gert Frobe) is still considered to be the most famous game of golf in cinematic history, the Park stated on its website. Scenes like mini-break and rowing scenes from Bridget Jones's Diary (2001) starring Hugh Grant, Renee Zellweger and Colin Firth were also filmed at the estate with the Georgian-era mansion set in the midst of 300 acres of parkland. Stoke Park hosts 49 luxury bedrooms and suits, 27-hole golf course, 13 tennis courts and 14 acres of private gardens. Although the Stoke Park estate has a recorded history of over 900 years, it was used as a private residence until 1908, according to its official website. Mayer Brown International LLP and Khaitan &amp; Co acted as legal counsels for the transaction, and <keyword id="85953" type="COMPANY" weightage="20" keywordseo="Ernst-Young">Ernst &amp; Young</keyword> UK advised on financial and tax matters. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/heres-a-look-at-the-hottest-tech-and-crypto-jobs-in-the-market-right-now/slidelist/82195429.cms">These are the hottest fintech and crypto jobs in India right now</a> <a href="https://www.businessinsider.in/tech/mobile/news/google-has-released-the-third-developer-preview-of-android-12-for-developers/articleshow/82195421.cms">Android 12 Developer Preview 3: All the upcoming user-facing features revealed</a> <a href="https://www.businessinsider.in/science/environment/news/list-of-endangered-wild-animals-in-india-is-under-threat-as-poaching-doubles-during-the-covid-19-lockdown/slidelist/82195658.cms">Poaching doubled during the lockdown in India due to the 'three F's', and these are the animals most under threat</a>

Mukesh Ambani's Reliance Industries buys Britain's iconic country club Stoke Park for ₹592 crore

<keyword id="19938772" type="General" weightage="20" keywordseo="Reliance-Industries-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries Ltd" meta.hostid="261" meta.entityid="Reliance Industries Ltd">Reliance Industries Ltd</keyword> on Monday reported an almost flat March quarter net profit, while its annual earnings hit a record high on the back of a recovery in its core oil and petrochemicals business and sustained momentum across the consumer-facing telecom and retail businesses. The oil-to-telecom-and-retail conglomerate's consolidated net profit stood at Rs 18,951 crore, or Rs 28.01 per share, in January-March quarter of the 2023-24 fiscal compared to Rs 19,299 crore, or Rs 28.52 a share, a year ago, according to a company's stock exchange filing. The profit was, however, higher quarter-on-quarter when compared to Rs 17,265 crore in October-December period. For the full fiscal FY24 (April 2023 to March 2024), Reliance posted a record net profit of Rs 69,621 crore as compared to Rs 66,702 crore earnings in the preceding financial year. Reliance also became the first Indian company to hit Rs 10 lakh crore turnover in FY24 when revenue from operations rose 2.6 per cent from Rs 9.74 lakh crore in 2022-23. The oil-to-chemicals (O2C) business, the main milch cow, posted a rise in profitability annually as well as sequentially, while retail business' earnings rose on new store openings despite lower footfalls. The firm helmed by billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword> saw telecom revenues soar as it outpaced competition in subscriber addition and data traffic. While quarterly EBITDA (earnings before interest, taxes, depreciation, and amortization) was up 14.3 per cent year-on-year to Rs 47,150 crore, registering growth across all businesses, the revenue from operations rose almost 11 per cent to Rs 2.64 lakh crore. The mainstay oil refining and petrochemicals business, called O2C, posted a 11 per cent rise in revenue and a 3 per cent higher EBITDA at Rs 16,777 crore in Q4. This was primarily because of "advantageous" sourcing of feedstock (crude oil) for refining business and use of ethane for making chemicals as well as higher domestic product placement, a company statement said, adding exports were down 8.5 per cent. With the consumer base swelling to 481.8 million from 470.9 million at the end of December on a flat per-user revenues of Rs 181.7, Reliance <keyword id="21397660" type="General" weightage="20" keywordseo="Jio-Infocomm-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Jio Infocomm Ltd" meta.hostid="261" meta.entityid="Jio Infocomm Ltd">Jio Infocomm Ltd</keyword> - the digital services business - posted a 12 per cent rise in net profit at Rs 5,583 crore in the fourth quarter of FY24. Also, aiding the business was rise in data traffic to 40.9 billion GB in January-March from 38.1 billion GB in the preceding quarter. For the full year, Jio posted a profit of Rs 21,424 crore as compared to Rs 19,124 crore in FY23. Profits from the retail business climbed 11.7 per cent to Rs 2,698 crore as store count rose to 18,836 from 18,774. Store footfalls dropped to 272 million from 282 million in October-December 2023 but were higher than 219 million recorded in January-March 2023. Oil and gas EBITDA soared 47.5 per cent to Rs 5,606 crore as higher gas volumes partly offset lower price realisation. The firm's flagship KG-D6 block in Krishna Godavari basin in the Bay of Bengal is now producing about 30 million standard cubic metres per day of gas and 23,000 barrels a day of oil/condensate. The company said its outstanding debt rose to Rs 3.24 lakh crore from Rs 3.11 lakh crore in December-end. After accounting for cash in hand, net debt at Rs 1.16 lakh crore as on March 31 was lower than Rs 1.25 lakh crore a year back. Mukesh Ambani, Chairman and Managing Director of <keyword id="20076630" type="General" weightage="20" keywordseo="reliance-industries-limited" source="keywords">Reliance Industries Limited</keyword>, said all segments of business have posted a robust financial and operating performance. "This has helped the Company achieve multiple milestones. I am happy to share that this year, Reliance became the first Indian company to cross the Rs 1 lakh-crore threshold in pre-tax profits," he said. Performance of the digital services segment has been boosted by accelerated expansion of subscriber base, supported by both mobility and fixed wireless services, he said. "With over 108 million True 5G customers, Jio truly leads the 5G transformation in India." <keyword id="19901342" type="General" weightage="20" keywordseo="reliance-retail" source="keywords">Reliance Retail</keyword>, he said, continued to provide customers endless choices through its robust omni-channel presence. "We continue to offer product differentiation and superior offline experience through stores re-modelling and revamping of layouts. Our digital commerce platforms also provide newer solutions to users with a broad brand catalogue," Ambani said. Strong demand for fuels globally, and limited flexibility in refining system worldwide supported margins and profitability of the O2C segment. "Downstream chemical industry experienced increasingly challenging market conditions through the year. Despite headwinds, maintaining leading product positions and feedstock flexibility through our operating model that prioritises cost management, we delivered a resilient performance," he said. "We remain committed to our projects and initiatives, including those in the new energy segment, which will bolster the company, and help it deliver sustainable growth for the future," he added. 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Reliance Industries quarterly profit stays flat; annual earnings hit record at ₹69,621 crore

Reliance Industries Limited (RIL) is headquartered in Mumbai and is taken care by Mukesh Ambani, the elder brother of Anil Ambani and the son of late Dhirubhai Ambani after the division of the family businesses among the two brothers. RIL is a conglomerate holding company in India that has a wide portfolio of businesses ranging over energy, petrochemicals, natural resources, textiles, telecommunications and retail. RIL is the highest taxpayer in the Indian private sector and accounts for over 5% of the Indian Government’s revenues and about 8% of the total merchandise exports from India. Here is a list of <keyword id="7780054" type="UNKNOWN" weightage="20" keywordseo="mukesh-ambani-companies">Mukesh Ambani companies</keyword> under the Reliance Industries Limited. Reliance Retail The retail business segment of the Reliance Industries Group, this is the largest retail store network in India comprising of a number of cutting edge brands including Reliance Fresh, Reliance Time Out, Reliance Wellness, Reliance Autozone, Reliance Footprint, Reliance Mart, Reliance Home Kitchens, Reliance Digital, Reliance Trends, Reliance Super, Reliance iStore, Reliance Market (Cash n Carry) and Reliance Jewel. Reliance Life Sciences This company has its operations around medical, industrial and plant biotechnology domains. The specialty areas of this segment include branding, manufacturing, pharmaceuticals, bio-pharmaceuticals, biofuels, clinical research services, industrial and plant bio-technology, regenerative medicine, novel therapies and others. Reliance Logistics This is a single window company involved in the selling of products in the products related to distribution, warehousing, transportation, logistics, and supply chain. This is an asset based company owning its own infrastructure and fleet. This company offers logistics support to the Reliance Group of Companies and also other third party companies. Reliance Jio Infocomm Limited (RJIL) Earlier known as Infotel Broadband, Reliance Jio Infocomm Limited is a broadband service provider that has obtained 4G licenses for operating across India. This is the sixth largest mobile network operator in the world today with more than 306 million subscribers. Reliance Industrial Infrastructure Limited This is an associate company of RIL that holds about 45.43 percent shares of the RIL. This company is mainly involved in establishing and operating industrial infrastructure. The company is also engaged in connected activities including leasing and providing services related to data processing and computer software. The company has set up a pipeline carrying petroleum products from the Bharat petroleum refinery at Mahul, Maharashtra to Reliance’s petrochemical complex located at Patalganga, Maharashtra. Network 18 Network 18 is a mass media company that has its diversified activities in digital platforms, television, films and mobile apps. This company has acquired the ETV network and has some joint ventures namely Viacom 18 and History TV18. Reliance Solar A subsidiary of Reliance, Reliance Solar produces and sells solar energy systems to remote and rural areas of the country. The company offers a wide portfolio of products including solar lanterns, home lighting solutions, street light systems, water purifying systems, solar air conditioners, refrigeration systems, and many others based on solar energy. Relicord This is a blood banking service under the Reliance Life Sciences. This body has been licensed by the Food and Drug Administration, Government of India.

Here's a look at all the companies that Mukesh Ambani owns

<keyword id="6487" type="General" weightage="20" keywordseo="reliance-industries-ltd" source="Orion">Reliance Industries Ltd</keyword> on Friday said its subsidiary has acquired majority stake in genomic testing frim <keyword id="12019788" type="General" weightage="20" keywordseo="strand-life-sciences-pvt-ltd" source="Orion">Strand Life Sciences Pvt Ltd</keyword> for ₹393 crore. The acquisition by <keyword id="11939413" type="General" weightage="20" keywordseo="reliance-strategic-business-ventures-ltd" source="Orion">Reliance Strategic Business Ventures Ltd</keyword> (RSBVL) is part of Reliance's digital health intiatives, the firm said in a stock exchange filing. "RSBVL, a wholly owned subsidiary of <keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> Limited (RIL), has acquired 2.28 crore equity shares of ₹10 each of Strand Life Sciences Private Limited for a cash consideration of Rs 393 crore only," it said. A further investment of up to ₹160 crore is expected to be completed by March, 2023. "The total investment will translate into about 80.3 per cent of equity share capital in Strand on a fully diluted basis," it said. Strand was incorporated in India on October 6, 2000. It is a pioneer of genomic testing in India with bioinformatics software and clinical research solutions to healthcare providers, including clinicians, hospitals, medical devices manufacturers and pharmaceutical companies. Strand's turnover was ₹88.70 crore, ₹109.84 crore and ₹96.60 crore in FY2021, FY2020 and FY 2019, respectively. It reported a net profit of ₹8.48 crore in FY2021 but had a loss of ₹25.04 crore in the prior fiscal year and ₹21.66 crore in FY2019. "The aforesaid investment is part of group's digital health initiatives, to foster affordable access to world-class technology and innovation-led healthcare ecosystem in India," Reliance said adding no governmental or regulatory approvals were required for the said investment. The investment, it said, does not fall within related party transactions and none of RIL's promoter / promoter group / group companies have any interest in the transaction. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/how-mukesh-ambani-owned-reliance-industries-crossed-the-15-lakh-crore-market-capitalisation/articleshow/85896448.cms">All the things that drove Reliance Industries’ shares to a 11-month high and over the coveted ₹15 lakh crore mark</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/heres-how-to-change-whatsapp-number-without-losing-chats/articleshow/85896267.cms">Here’s how to change WhatsApp number without losing chats</a>

Mukesh Ambani's Reliance acquires majority stake in Strand Life Sciences for ₹393 crore

As part of its vision for the company's rapid transition to a new era of green, clean and renewable energy, the Chairman and Managing Director of Reliance Industries Limited (<keyword id="6484187" type="COMPANY" weightage="20" keywordseo="ril">RIL</keyword>), <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>, on Thursday unveiled the strategy and roadmap for its New Energy and New Materials business with an investment of ₹75,000 crore over a period of three years. During the 44th annual general meeting of RIL, Ambani said the investment would go into the setting up of four Giga factories that will manufacture and fully integrate all the critical components of the new energy ecosystem involving production of solar energy, storage of intermittent energy, production of green hydrogen and converting hydrogen into motive and stationary power. Reliance will invest 60,000 crore on these initiatives in the next three years. The rest 15,000 crore is kept for value chain, partnerships and future cost in the same time frame. Ambani said the company has started work on developing the Dhirubhai Ambani Green Energy Giga Complex over an area covering 5,000 acres in <keyword id="6361405" type="PERSON" weightage="20" keywordseo="jamnagar">Jamnagar</keyword>, Gujarat, which will be among the largest integrated renewable energy manufacturing facilities in the world. "Jamnagar was the 'cradle of our old energy business'. It will also be the 'cradle of our new energy business'," Ambani said at the AGM. Reliance will establish and enable at least 100 GW of solar energy by 2030 with a significant part of this coming from rooftop solar and decentralised solar installations in villages, he said. It will also set up an Advanced Energy Storage Giga Factory that will be used to produce large-scale grid batteries to store the energy that is created. The third initiative of the company would be the setting up of an Electrolyser Giga Factory to manufacture modular electrolysers of highest efficiency and lowest capital cost. These can be used for captive production of green hydrogen for domestic use as well as for global sale. The fourth initiative will be a Fuel Cell Giga Factory. A Fuel Cell uses oxygen from the air and hydrogen to generate electricity. "In 2016, we had launched Jio with the aim of bridging the Digital Divide in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>. Now in 2021, we are launching our New Energy business with the aim of bridging the green energy divide in India and globally," Ambani said. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/heres-how-chinas-2021-crypto-crackdown-in-2021-differs-from-the-2017-ban/articleshow/83802778.cms">Here’s how China’s 2021 crypto crackdown in 2021 differs from the 2017 ban</a> <a href="https://www.businessinsider.in/business/startups/news/zomato-is-seeking-a-8-billion-valuation-in-its-ipo-does-it-make-sense/articleshow/83801848.cms">There are a few reasons why Zomato wants $8 billion valuation from its IPO -- here's a look at if it makes sense</a>

Reliance Industries Limited  announces  ₹75,000 crore green energy plan to build four Giga factories

<ul><li> As many as 1.5 lakh of these employees were hired by Reliance Retail, the retail arm of RIL.</li><li>It claims that Reliance Retail is one of the biggest employers in India, with over 361,000 employees in total.</li><li>Reliance spent close to ₹18,775 crore ($2.4 billion) on employee benefits expense in FY2022.</li></ul>The Mukesh Ambani-led oil-to-chemical conglomerate Reliance Industries Limited (RIL) added over 2.1 lakh new employees on its payroll in the fiscal year 2022, the company said in a statement. As many as 1.5 lakh of these employees were hired by Reliance Retail, the retail arm of RIL. The company now claims that Reliance Retail is one of the biggest employers in India, with over 361,000 employees in total. “During the year, Reliance has also been able to generate significant employment opportunities for the people of our country and continues to remain amongst India’s largest private sector employers,” said RIL chairman Mukesh Ambani. “Over the past year, we added over 2.1 lakh new employees across our businesses with our consumer and technology business creating a large part of these new jobs,” he added. Reliance Industries Limited, on a consolidated basis, spent close to ₹18,775 crore or $2.4 billion on employee benefits expense between April 2021 and March 2022. This represents an increase of nearly ₹4,000 crore compared to the same time period in the previous year. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Timeline </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Employee benefits expense </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oct-Dec 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,660 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan-Mar 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,278 crore </td></tr></tbody><tbody></tbody></table>Source: Reliance Industries Limited (RIL) Reliance Industries Limited reported gross revenue of ₹792,756 crore (about $105 billion) in gross revenue in the fiscal year 2022. Its net profit stood at ₹67.845 crore in the same time frame. On a quarterly basis, the company reported ₹2.32 lakh crore )$30.7 billion) in revenue. The company reported a net profit of ₹18,021 crore ($2.4 billion) in January-March quarter, which is equivalent to the amount Reliance spent on employee benefits last fiscal year. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/retail/news/reliance-retail-hits-2-lakh-crore-in-revenue-adds-over-2500-stores-in-the-last-one-year/articleshow/91381054.cms">Reliance Retail hits ₹2 lakh crore in revenue, adds over 2,500 stores in the last one year</a> <a href="https://www.businessinsider.in/business/corporates/news/zomatos-deepinder-goyal-donates-stock-option-worth-700-crore-to-zomato-future-foundation/articleshow/91371003.cms" data-type="tilCustomLink">Deepinder Goyal donates his Zomato stock options worth ₹700 crore to offer free education for delivery partners’ children and more</a> <a href="https://www.businessinsider.in/stock-market/news/delhivery-ipo-size-cut-down-by-a-third-due-to-market-volatility-and-lic-ipo-say-analysts/articleshow/91348072.cms">Delhivery IPO size cut down by a third due to market volatility and LIC IPO, say analysts</a>

Reliance adds over 2 lakh new jobs in India in FY22 – every 3 out of 4 new jobs are from retail alone

<ul><li>Reliance Industries announced its Q1 earnings today. </li><li><keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword> reported an EBITDA of ₹2,049 crores. </li><li>The retail arm of the company has seen a 69.9% year-on-year growth.</li></ul>Reliance Retail posted robust pre-tax profits today as it grew by around 70%, to ₹2,049 crores in the first quarter of 2019-20 as compared to ₹1,206 crore last year. The revenues from Reliance Retail grew at 47.5% to ₹38,196 crores in the quarter ending June 2019 as compared to ₹25,890 crores in the same quarter last year. “Our EBITDA crosses ₹2,000 crore for the first time (retail business). In our core retail, we have the best margin we have ever seen at 8.9%. We have expanded our footprint. We added over 200 stores in this quarter to now have 10,644 stores across the country. We also achieved the milestone of having 100 million registered loyalty customers, and saw 150 million footfalls in our stores,” said Alok Agarwal, CFO, <keyword id="45442" type="COMPANY" weightage="20" keywordseo="Reliance-Industries-Limited">Reliance Industries Limited</keyword>. Agarwal said that this growth has come as Reliance is offering more to its consumers, is present in every part of the country, offering better assortments, better after-sales service support. “We are beginning to take the benefits of scale. As we grow bigger and bigger, we are also able to give consumers better deals and discounts, simply because we are getting better at merchandising,” said Agarwal. Reliance Retail has 10,644 stores in over 6,700 cities. It is present across areas like food and grocery, consumer electronics, fashion and lifestyle. In the food and grocery segment, Reliance Retail operates Reliance Fresh, Reliance Smart and Reliance Market stores, while in consumer electronics it has Reliance Digital, Reliance Digital Express Mini stores and Jio stores. In the fashion &amp; lifestyle segment, it has Reliance Trends, Trends Women, Project Eve, Reliance Footprint, Reliance Jewels and AJIO.com. Reliance Retail, which was launched in 2006, has been growing rapidly over the years and has been aggressively acquiring companies as well. Earlier this year, Reliance Retail had acquired the iconic British toy making company Hamley’s and in July completed the 100% acquisition of the company for a <a href="https://www.businesstoday.in/current/corporate/mukesh-ambani-reliance-brands-completes-100-acquisition-of-hamleys/story/365664.html">reported</a> amount of ₹620 crore. Meanwhile, there are also reports that Reliance Retail is bringing the iconic American brand <a href="https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/reliance-to-launch-iconic-jewelry-brand-tiffany-co-in-india/articleshow/70254628.cms">Tiffany &amp; co </a>to India, as per an ET report. The brand could be housed in the luxury mall that Ambani is planning to open next year in the Jio World Centre in Bandra Kurla Complex in Mumbai.

Reliance Retail's discounts may get better as the company grows bigger

<keyword id="45442" type="COMPANY" weightage="20" keywordseo="Reliance-Industries-Limited">Reliance Industries Limited</keyword> (RIL) has said that it has applied for a payments bank licence in collaboration with the State Bank of India (SBI), which would have up to 30% stake in the joint venture (JV). 
 Earlier, Aditya Birla Nuvo Limited (<keyword id="193651" type="CITY" weightage="20" keywordseo="ABNL">ABNL</keyword>), which manages mobile operator Idea Cellular, and the Future Group had also applied for licences. According to ABNL, it is eyeing to own 51% in the bank and Idea will own the rest. 
 The Reserve Bank of India (<keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword>) would ultimately take a final decision on these applications. 
 Some of the applicants, including <keyword id="44373" type="CITY" weightage="20" keywordseo="Aditya-Birla-Group">Aditya Birla Group</keyword>, had also applied for full-fledged banking licences in 2013. However, their applications were rejected by the RBI. 
 
The RBI had issued licences to Infrastructure Development Finance Company (IDFC) and Bandhan to set up full-fledged banks in 2014. 
 
Muthoot Fincorp, which was looking to apply for a small finance bank, has now backed out. "The RBI guidelines say we have to convert the current business into small finance business. We are not sure how it will play out," said Muthoot Fincorp Executive Director Thomas Muthoot. 
 
Payments bank is allowed to raise deposits of up to Rs 1 lakh per individual. It can also issue ATM cards and sell products like mutual funds. However, they are not allowed to issue credit cards. 
Image: Thinkstock

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