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If you are an HDFC customer, the bank is giving you more reasons to stick to it. Now the bank will be playing a double role of not only keeping your money safe but will also turn into a shopping mart, selling grocery, clothes, shoes and other products on its website. 
 The bank will also get best deals from eCommerce sites like <keyword id="541988" type="COMPANY" weightage="80" keywordseo="SnapDeal">Snapdeal</keyword>, <keyword id="6354742" type="COMPANY" weightage="80" keywordseo="Flipkart">Flipkart</keyword> and <keyword id="18635" type="CITY" weightage="80" keywordseo="Amazon">Amazon</keyword> on its website. 
 
Keeping the fast-paced growth in eCommerce, a senior HDFC executive said it was a timely move by India's second largest private sector lender. 
 "We are a large retail and payment bank...about 30-40% of customer spends on eCommerce happens through our credit and debit cards," Parag Rao, senior executive Vice-President and business head (card payment products and merchant acquiring services) at <keyword id="6357149" type="CITY" weightage="80" keywordseo="HDFC-bank">HDFC Bank</keyword> told Economic Times. 
 
Rao informed that the bank would not sell products directly as it is against the rules. "We have tied up with partners in travel, bill payment, grocery, hotel and shopping who have their sites anyway," he told ET. 
 
Based on the customer feedback since past one year, HDFC has been working to launch SmartBuy, which will provide a platform to its customers to get better discounts and facilities at one place. 
 As per a PwC India report, <keyword id="35621" type="UNKNOWN" weightage="80" keywordseo="e-commerce">e-Commerce</keyword> spends grew at a compounded annual growth rate of 34% between 2009 and 2014 to touch $16.4 billion, adding the sector is expected to expand to $22 billion by the end of this year. 
 Meanwhile, taking note of the increasing importance of eCommerce companies, the Reserve <keyword id="6355303" type="CITY" weightage="60" keywordseo="Bank-of-India">Bank of India</keyword> (RBI) had asked banks to form joint ventures with them or appoint them as business correspondents. 
 
The RBI’s move to licence niche payment banks has also led to increased focus among banks on digital banking. 
 
"The increase in e-tailing is something that doesn't matter to banks. They want these transactions to be executed through their website so that they get the fee income," Ashvin Parekh, managing partner, Ashvin Parekh Advisory Services told ET, adding “they are just gearing up for payments banks.” 
 Banks like <keyword id="6653" type="CITY" weightage="60" keywordseo="ICICI-bank">ICICI Bank</keyword>, HDFC Bank and Axis Bank want to ensure their transactions are not routed to any third-party website, for if a payment bank comes and these are routed to its website these banks may lose customers," said Parekh. 
 
HDFC’s major profits come from fee income. Its other income, which includes fees and commission from offer of banking services, grew 29.9% to Rs 2,563.8 crore in the quarter to March, which led to a 20% growth in its net profit. 
 
"HDFC Bank is the largest acquirer (of customers) in the country and it cannot leave the acquisition space. Banks are just trying to pre-empt products that the payment banks would come up with," said Parekh. 
 
Aditya Puri, the Managing Director and Chief Executive Officer of HDFC Bank, has been pushing the digital initiative since December 2014, replicating the best practices of some of the global banks such as US-based Wells Fargo and Poland's mBank. 
 
(Image: Reuters)

HDFC Bank to turn into a shopping-hub. Find out how

<ul><li><keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> had said that <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword> is the fastest-growing retailer in the world.</li><li>Here’s how the retailer stacks up against its global listed peers <keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword> (US) and <keyword id="6398216" type="ORGANIZATION" weightage="20" keywordseo="tesco">Tesco</keyword> (UK). </li><li>It has been a busy 2020 at Reliance <keyword id="6354851" type="UNKNOWN" weightage="20" keywordseo="retail">Retail</keyword> too – with JioMart taking off, NetMeds and Zivame acquisitions, and now Future Retail and Urban Ladder on the cards.</li></ul>Reliance Chairman Mukesh Ambani is building ammunition for his next burst of investments for his retail venture – Reliance Retail. With the e-commerce debut with JioMart and a spree of acquisitions ready for Reliance Retail, Ambani is not just living up to his claim of being India’s largest retailer but also has global ambitions. During the company’s annual general meeting in July, Ambani had said that Reliance Retail is the fastest-growing retailer in the world, and the only Indian retailer to feature in the Top 100 global retailers. The behemoth, Reliance Industries' retail vertical is headed for an initial public offering (IPO) soon. Here’s how Reliance Retail stacks up against its global listed peers Walmart (US) and Tesco (UK). <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;"> </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;">Reliance Retail </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;">Walmart </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;">Tesco </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;">Retail sq ft </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;">28.7 million </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;">783.9 million </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;">141.5 million </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;">Revenue for FY20 </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;">$21.7 billion </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;">$524 billion </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;">$73.2 billion </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;">Total number of stores </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;">11,806 </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;">11,500 </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;">10780 </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;">Market Value </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;">$4-5.3 billion (estimated) </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;">$381.49 billion </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;">$22.25 billion </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;">Enterprise value/EBITDA </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;">26.5x </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;">12.79x </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;">8.74x </td></tr></tbody></table>(Source: company reports, HDFC Securities) Reliance Retail, the unlisted entity, is estimated to share a higher valuation Reliance Retail might be a small player when compared to the global giants Walmart and Tesco, but here’s where Mukesh Ambani brings true value to its investors – its enterprise value to EBITDA (earnings before interest, taxes, depreciation, and amortization) ratio is double than Walmart, and triple than that of Tesco. The higher the EV/EBITDA ratio, the more value the investor sees in the company. But what makes for Reliance Retail’s high EV/EBITDA ratio? Arvind Singhal, Chairman and MD of consulting firm Technopak, explains that most Indian companies enjoy a much higher EV/EBITDA ratio than their competitors in the US and Europe. “There are two factors. Firstly, the perception of investors is that India will show more growth in consumer product industries compared to mature markets where the consumers are spending less on merchandise and more on services. Retailers like Tesco or Walmart, they have to grow by taking a share of the market from someone. The demography of India is such that people will spend on merchandise consumption, therefore you can support higher multiples,” he said. Singhal also believes that Reliance Retail also enjoys the stance of being part of a conglomerate as opposed to other listed peers within India like DMart, Trent or a Shoppers Stop. “When Reliance Retail does go on to list, the valuation will be higher because of the limited number of ‘good’ companies in India and that too of a certain scale. So, when a global investor comes looking at investments in India, they are going to put their money on those few companies,” he said. Grocery at the centre stage for all three From Reliance to Walmart and even Tesco, grocery is at the centre stage of their e-commerce bets, a business that has only accelerated due to the coronavirus pandemic. Reliance in its first-quarter earnings of FY21 reported that grocery alone saw a 21% growth year-on-year in the operational business of grocery in the first quarter. Ambani’s e-commerce bet, JioMart clocked in big numbers during the lockdown – the company claimed it received over 4 lakh orders on a single day. And now, expansion plans for JioMart are underway. According to a <a href="https://www.financialexpress.com/industry/rils-jiomart-to-sell-half-of-all-online-grocery-in-india-facebook-to-help-put-mukesh-ambani-on-top-goldman/2036073/">Goldman Sachs report,</a> JioMart is poised to sell half of all online grocery in India, which is expected to see 5 million orders every day by 2024. It also helps that global tech players like Facebook and Google have invested billions in Jio and backed Ambani’s digital plans. Meanwhile, Walmart has nearly doubled its e-commerce sales during the April-June quarter, thanks to the rising demand in online grocery. And at the other end, Tesco continues to remain the leader in the British market, even with Amazon being bullish about its e-commerce grocery sales in the region. During the lockdown, Tesco saw its grocery sales <a href="https://retail.economictimes.indiatimes.com/news/food-entertainment/grocery/britains-grocery-sales-growth-slows-as-habits-inch-towards-normality/77613018">jump</a> by 12.8%. Reliance Retail is stocking up Reliance Retail current offerings <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Offline Retail </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;">E-commerce </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;">Reliance Fresh </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;">Jio Mart </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;">Reliance Trends </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;">Ajio.com </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;">Reliance Digital </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;">Reliance digital </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;">Reliance Jewels </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;">Home Shop18 </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;">Reliance Market </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;">BookMyShow </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;">Reliance Smart </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;">Reliancesmart.in </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;">Reliance Footprint </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;">NetMeds </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;">Qwik mart </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;">Zivame </td></tr></tbody></table> 2020 might be an agonising year for most, and especially those businesses that operate in the segments that Asia’s richest man Mukesh Ambani seems to be interested in. The spate of acquisitions continues. With the buyout of online pharmacy startup Netmeds, and a stake in lingerie retailer Zivame, Reliance Retail is now looking to close the acquisition deal with Kishore Biyani’s mammoth enterprise Future Retail, which runs the chain of Big Bazaar stores over the next few days. It is also in talks with furniture retail startup Urban Ladder. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-today-sbi-dlf-pnb-housing-yes-bank-ruchi-soya-titan-company-and-more/articleshow/77646162.cms">Top stocks to watch today— SBI, DLF, PNB Housing, Yes Bank, Ruchi Soya, Titan Company and more</a> <a href="https://www.businessinsider.in/business/ecommerce/news/walmart-ceo-defends-flipkart-valuation-says-learnings-from-india-helped-double-their-e-commerce-sales/articleshow/77626799.cms">Walmart CEO defends Flipkart's valuation, says learnings from India helped double their e-commerce sales</a>

Here’s how Reliance Retail stacks up against some of its global peers – Walmart and Tesco

<ul><li><keyword id="2407038" type="PERSON" weightage="20" keywordseo="DMart">DMart</keyword>’s parent company Avenue Supermart has posted a 88% fall in profits from ₹334.59 crore to a mere ₹48 crore in Q1FY21.</li><li>DMart’s high number of stores meant the company had to incur higher allowances for staff (it offered a hardship allowance to employees) and also had to bear sanitization costs for the stores. </li><li>For <keyword id="6505089" type="UNKNOWN" weightage="20" keywordseo="Radhakishan-Damani">Radhakishan Damani</keyword>, another big challenge is on the cards – If India’s richest man Mukesh Ambani decides to buy Future Retail and alongwith it will acquire the Bigbazaar chain of stores. </li></ul>Radhakishan Damani, the owner ⁠— with a net worth of $15.6 billion, according to Forbes ⁠— of Avenue Supermarts, which operates the DMart chain of retail stores is watching a dream run come to a near standstill. For the first quarter of the current financial year, DMart’s parent company Avenue Supermart has posted a 88% fall in profits from ₹334.59 crore to a mere ₹48 crore. DMart’s share price reflected the investors’ disappointment with a 4% fall on Monday (July 13). While DMart said that the company is less anxious now than it was during April 2020, analysts say the causes of worry are only beginning. The biggest of them is a challenge from Asia’s richest man, Mukesh Ambani. Higher costs at stores while customers head to kiranas One of Damani’s biggest advantages was the presence of DMart in Tier-II cities, reaching out to a larger market. But analysts at HDFC Securities believe that this very strength has turned into its weakness. “Higher exposure to some of the most impacted Indian districts and store closures in Apr (50% of network closed in Apr) manifested into a severe footfall loss, ergo revenue loss for D-MART,” said the report. DMart began with a single store in Mumbai’s Powai in 2002. Today, DMart is present in over 214 locations across Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab and Rajasthan. The higher number of stores also meant DMart had to incur higher allowances for staff (it offered a hardship allowance to employees) and also had to bear sanitization costs for the stores. DMart too acknowledged that ‘organized retail’ failed to mark during the lockdown as local kirana stores <a href="https://www.businessinsider.in/retail/news/jiomart-dunzo-swiggy-and-likes-want-to-ride-the-trust-earned-by-indias-kirana-stores-during-the-lockdown/articleshow/76826479.cms">came to the rescue.</a> The company said customers didn’t put ‘value’ as a priority during lockdown. “There is also a sales channel of traditional trade which is smart, agile and resourceful. India still has a strong and resilient network of small shops and neighbourhood stores. They came roaring back after the first 2 or 3 weeks of lockdown serving the needs of an anxious customer the way the customer wanted it - quickly over the counter or through home deliveries,” said the company in a regulatory filing. A bigger challenge if Reliance and Future Retail join hands DMart’s rise was credited to its ability to outbid kirana stores with heavy discounts powered by smart sourcing and it wooed middle class indians into organised retail. But now the question is – can he beat someone with deep pockets like Mukesh Ambani? If India’s richest man Mukesh Ambani decides to buy Future Retail and alongwith it will acquire the Bigbazaar chain of stores. Reliance is reportedly close to closing the deal with Kishore Biyani’s Future Retail, as the corporate giant is doubling down investments in the Indian retail sector with its own venture JioMart. <div type="image" title="mukesh ambani" msid="76937031" hostid="261"></div> Ambani is already into grocery retail but bagging Big Bazaar would give him an unprecedented reach and market share that would be difficult to beat. So far, the Future Group <a href="https://www.businessinsider.in/business/news/future-retail-share-price-jumps-because-of-a-possible-investment-from-mukesh-ambani-reliance-premji-or-samara/articleshow/76460606.cms">with a big bag of debt</a>, has not been much of a competitor even though it had a headstart over DMart and ten times the number of stores. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Company</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;">No. of stores </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;">Cities </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;">DMart </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;">214 </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;">69 </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;">Reliance Retail </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;">10901 </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;">6700 </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;">Big Bazaar </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;">2000 </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;">400 </td></tr></tbody></table> Uncertainty with lockdowns Even as he prepares for the Ambani challenge, DMart may be bracing for another troubled quarter. Several of the states in which DMart is operational – Tamil Nadu, Maharashtra, Karnataka, have once again enforced strict lockdowns. As the latest earnings show, despite keeping stores open 24*7 since April 1⁠— and tying up with housing societies and taking in orders through WhatsApp ⁠and delivering them at home— the volumes have tumbled and profits have shrunk severely. <div type="image" title="dmart revenue (1)." msid="76937002" hostid="261"></div> <div type="image" title="dmart profits (1)." msid="76937010" hostid="261"></div> “Discretionary consumption continues to be under pressure, especially in the Non-FMCG categories. This is impacting gross margins negatively. Store operations and duration of operation per day continues to remain inconsistent across cities due to strict lockdowns enforced by local authorities from time to time. In addition, in certain cities authorities are once again insisting on selling only essential products. Hence our future revenues continue to remain uncertain,” said the company.

Radhakishan Damani has a string of challenges ahead of him and falling profits at DMart don’t help

<ul><li>The world was waiting to see two of the planet's richest men speak to each other and while they delivered some headlines, there was little chemistry to show.</li><li>Despite the multi-million dollar deal between the two companies, <keyword id="10437346" type="UNKNOWN" weightage="20" keywordseo="zuckerberg-and-ambani">Zuckerberg and Ambani</keyword> were asking each other questions that should have ideally been answered before their partnership. </li><li>Here are the highlights of the 40-minute conversation between two of the richest men in the world.</li></ul>Two of the richest men in the world, <keyword id="624769" type="PERSON" weightage="20" keywordseo="Facebook-CEO-Mark-Zuckerberg">Facebook CEO Mark Zuckerberg</keyword> and <keyword id="705208" type="POSITION" weightage="20" keywordseo="Reliance-Industries-Chairman">Reliance Industries chairman</keyword> <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>, agree on one thing. If the pandemic had hit even five years earlier, India would not have been ready. However, the headlines were few and far between. Their individual dispositions were exemplified by the lack of chemistry between the two of them during the last session of Facebook's <a href="https://www.facebook.com/watch/live/?v=1851422635011183&amp;ref=watch_permalink">Fuel for India 2020</a> conference. In fact, it seemed like the two of them didn’t know each other as well as business partners should, considering the massive amount of money <a href="https://www.businessinsider.in/business/news/mukesh-ambani-gave-google-and-facebook-a-discount-on-reliance-jio-stake-heres-why/articleshow/77032126.cms">Facebook has invested in Jio.</a> Both Ambani and Zuckerberg praised each other and asked questions that, one would suppose, would have been addressed before the investment was made. The chat between <a href="https://www.businessinsider.in/business/corporates/news/microsoft-top-boss-satya-nadellas-conversation-with-mukesh-ambani-asias-richest-man/articleshow/74278962.cms">Microsoft chief Satya Nadella and Ambani</a> was a bit more free-flowing than this one. But that was also before the pandemic and they were sitting next to each other. <div type="image" title="ambani_nadella_edited" msid="79740206" hostid="261" caption="&amp;lt;p&amp;gt;Mukesh Ambani and Microsoft CEO Sataya Nadella in February 2020&amp;lt;/p&amp;gt;"></div> Zuckerberg and Ambani may have been inconvenienced by the fact that it was a video call. But, one can't be reprimanded for expecting the ‘architect of the digital network of the world’ (how Ambani described Zuckerberg) and the man turning India into a digital society to be a bit more comfortable with technology given their shared vision of a hi-tech future. The entire transcript of their conversation, which lasted over 40 minutes, was around 11 pages long. We, at Business Insider India, have shrunk the tete-a-tete down to the most important things that you need to know. Here are some of the highlights from the conversation between Ambani and Zuckerberg on December 15: Zuckerberg: [..] So I'm curious from your perspective how is India doing right now? When you expect things are going to return to normal? And, I know that Reliance has taken a number of big steps to help the community in the country. It's been a big year for you. I'm curious to hear how your company adapted to help you move forward in the midst of this pandemic. Ambani: [Ambani spoke a lot about what the government, the Reliance Foundation and his teams had contributed to the COVID relief efforts before answering how he sees the current situation in India.] Mark, sometimes I wonder that if the pandemic had struck India just four or five years earlier, we would have not been in as good a shape as what we are today. With all the connectivity we have, and the credit for that must go to our Prime Minister's Digital India vision, where he motivated the entire industry to roll out broadband in the first five years of his first term. And, during the pandemic. India has attracted the largest foreign direct investment in its history, Mark. We have our own example of how Jio and Facebook concluded our partnership. Right in the middle of lockdown. [..] And, I believe, Mark, that our actions will speak louder than our words in the coming months and years time here. Zuckerberg: One of the big opportunities that I see with this partnership, Facebook and Jio partnership, is the role that we can play together in supporting the millions of small businesses in India especially now with the impact that COVID is having accelerating the move that a lot of businesses have from physical storefronts to digital ones and in this digital future. So, I'm curious — what role do you see technology, playing in this post COVID world? Especially as it relates to all of these small businesses that I know you share a passion with me that is just critical that we serve them. Ambani: Absolutely, Mark. And, let me point out a very unique feature about our partnership. Perhaps, not many people have understood this, but before this partnership I believe that each one of us was mainly a communication platform. Together, we now have become a value creation platform for our customers and small businesses. And, I firmly believe that technology with all the digitization steps that India has taken will democratize wealth and value creation for individuals and small businesses. And, let me explain this very simply, Whatsapp has hundreds of millions of subscribers in India Jio has hundreds of millions of subscribers in India. Jio Mart, which is our retail service, actually has the aspiration of serving tens of millions of small shopkeepers in India, who are the bedrock of employment. So, what does this mean? This means Jio brings digital connectivity. WhatsApp, now with WhatsApp brings digital interactivity and the ability to move to close transactions and create value. And, Jio Mart brings the unmatched online and offline retail opportunity that gives our small shops, which exist in villages and small towns in India, a chance to digitize and be at par with anybody else in the world. [...] Zuckerberg: I'm curious as you look ahead to the future in India — what other technologies or developments are you excited about now? Where do you see the country in the next five to 10 years? Ambani: Well, as I mentioned to you, Mark. I really see India accelerating as a premier digital society. I see us integrating 5G. [...] We also think that compute, and very low latency compute is real.I think that there is a great opportunity for really bringing education and healthcare with the second generation reforms that were done in the last six months, right. [...] And, I think that in a span of 10 years, we can set for ourselves an objective to really reskill India and the talent that you talked about can improve 10x. Today, you're just seeing the creamy layer. But, that's what technology can do to really make a better India in a better world. The same thing we can do in health, and all the emerging technology and integrations where we can make sure that we deliver services and we deliver good proactive healthcare. [..] And, that is why I think that the next two decades are going to be historic in terms of the social and economic transformation. Zuckerberg: It always blows me away that India has more than 60 million small businesses and millions of people around the country rely on them for jobs. That's a big part of what I hope that our partnership can serve here. We support more than 50 million WhatsApp business app users globally every month already and more than 15 million of these are in India. As you said, now, I can’t imagine going through the pandemic 10 years ago or even two decades ago when the internet was still nascent. It would have been a completely different experience. And, technology, of course, is allowing us to make sure that we can get accurate information out to people that has implications on health, education and helping serve people better. I think it shows a lot of the promise for what's ahead and I think we've certainly fared better now than we would have if the pandemic hit us before. Ambani: I couldn't agree more, Mark. [...] I call you the ‘architect of the digital network of the world’. While I have built some connectivity and broadband connectivity in India, you've done that for the world.Please share with us your experience of as the digital architect of the world, how your global Facebook experience has helped people in this crisis and your perspective of the crisis and where you see the world today and where it is going? Zuckerberg: [...] We just launched WhatsApp payments in India last month. So you can send money to your friends and family through WhatsApp as easily as sending a message and that was possible because of the UPI system that has been built in via unified payments interface so it makes it easy for anyone to instantly accept payments across different apps. I think we're working with 140 banks, or it's supported by 140 banks out of the gate. And, India's the first country in the world to do anything like this now. So we're grateful to be able to support this kind of innovation to help to work to create more prosperity and help achieve a more Digital India. In fact, I think that a lot of other places around the world are going to be better off when they follow some of this lead that India has set in creating public goods like this. [...] Ambani: I hope that the rest of the world learns from Indian policy, and what Facebook is able to achieve in India. We as Indians will be very proud if Facebook says we did it first in India, and then took it to 100 countries. I look forward to working with you on that. Mark, all of us would love to know your views on how the world is changing. And, what you and Facebook are thinking about. And what you see the future as. Just give us your perspective, Mark. Zuckerberg: [He spoke about how technology is empowering individuals, not just businesses and how it has been “incredibly democratising”.] We’re now on the next step with now great 4G and coming 5G networks. Video is really becoming the primary way that people share. Anyone can learn and capture something on their phones and then share it or stream it. Increasingly people are able to consume that. Video is just a lot richer of a medium than photos. Even when my daughters took their first steps, I wanted to capture a video of that and share it, not just a photo. But I don't think video is the end of the line. So, a lot of what I'm focused on is creating a helping screen virtual reality and augmented reality, so that way we can share not only the video of an experience, but you can use virtual reality to go into an experience and feel like you're right there. You can have holograms of digital objects that can kind of be as realistic as the physical objects that are there. Meaning in five or 10 years when we're having this conversation, it will just be a hologram version of me sitting on the couch next to you instead of having to do this over a screen. It'll feel a lot more realistic. A big part of why I was excited to partner with you is because there are not many people around the world, who've just gone industry after industry revolutionized them and improve them, and continue to do it and have that hunger to improve the lives of so many people so I just have a deep admiration for that. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/pornhub-adult-video-streaming-website-deletes-over-9-million-videos-to-remove-child-porn/articleshow/79732612.cms">Two in every three Pornhub videos are gone after a purge to remove child porn</a> <a href="https://www.businessinsider.in/finance/banks/news/hdfc-bank-ceo-aditya-puri-says-banks-must-change-every-3-4-years/articleshow/79734617.cms">"Banks must change every 3-4 years," says Aditya Puri, the recently retired chairman of HDFC Bank, dubbed as 'the world's best banker'</a> <a href="https://www.businessinsider.in/business/ecommerce/news/after-zomato-swiggy-scales-down-its-grocery-ambitions-leaving-the-market-open-for-jiomart-bigbasket-amazon-and-others/articleshow/79739364.cms">After Zomato, Swiggy scales down its grocery ambitions – leaving the market open for JioMart, BigBasket, Amazon and others</a>

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