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<ul><li><keyword id="4667782" type="General" weightage="80" keywordseo="sabnavis" source="Orion">Sabnavis</keyword> said it believes that the terminal repo rate for the financial year is expected to be 6.5 per cent.</li><li>An out-of-turn meeting of the <keyword id="6375120" type="General" weightage="50" keywordseo="monetary-policy-committee" source="Orion">Monetary Policy Committee</keyword> (MPC) of the Reserve Bank of India was held in early November.</li><li><keyword id="30067" type="General" weightage="100" keywordseo="rbi" source="Orion">RBI</keyword> had already hiked the key policy rate by 190 basis points since May to 5.9 per cent to cool off domestic retail inflation.</li></ul> The Reserve Bank of India's three-day monetary policy committee meeting commences today. Financial markets will be keenly watching the committee's stance as consumer inflation is still above the 6 per cent target band. "The RBI will be presenting the monetary policy against the backdrop of GDP growth slowing down as well as inflation being high above 6 per cent. We do believe that the MPC will continue with rate hikes this time though the magnitude will be lower - probably 25-35 bps," said <keyword id="170005" type="General" weightage="50" keywordseo="madan-sabnavis" source="Orion">Madan Sabnavis</keyword>, Chief Economist at <keyword id="6358007" type="General" weightage="50" keywordseo="bank-of-baroda" source="Orion">Bank of Baroda</keyword>. More specifically, Sabnavis said it believes that the terminal repo rate for the financial year is expected to be 6.5 per cent, which essentially means there will be one more rate hike in February meeting. "It is unlikely to change the stance and the withdrawal of liquidity will continue. While the RBI will take a hard look at both the GDP and inflation projections, there could be some downward revision for GDP growth. In short, there will not be any surprise for the market just as is the case for global markets too which are now expecting more moderate increases in interest rates by the <keyword id="45672" type="General" weightage="50" keywordseo="fed" source="Orion">Fed</keyword>," Sabnavis added. The central bank had already hiked the key policy rate by 190 basis points since May to 5.9 per cent to cool off domestic retail inflation that has stayed above the RBI's upper tolerance limit for over three quarters now. In October, retail inflation was 6.77 per cent. Under the flexible inflation targeting framework introduced in 2016, the RBI is deemed to have failed in managing price rises if the CPI-based inflation is outside the 2-6 per cent range for three quarters in a row. An out-of-turn meeting of the Monetary Policy Committee (MPC) of the Reserve Bank of India was held in early November to discuss and draft the report to be sent to the central government for having failed in maintaining the inflation mandate. The meeting was called under Section 45ZN of the Reserve Bank of India (RBI) Act 1934, which pertains to steps to be taken if the central bank fails to meet its inflation-targeting mandate. Further details about the special meeting are not officially in the public domain. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/more-to-be-expected-from-rbis-mpc-meeting-than-just-a-rate-hike-say-experts/articleshow/95991628.cms">More to be expected from RBI's MPC meeting than just a rate hike say experts</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/canada-overwhelmed-with-tridemic-of-covid-19-flu-and-respiratory-syncytial-virus/articleshow/95990833.cms">Canada overwhelmed with 'tridemic' of Covid-19, flu and respiratory syncytial virus</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/jio-haptik-aims-to-turn-profitable-before-listing/articleshow/95975823.cms">With an eye on listing in the future, Jio Haptik trains guns on growth &amp; profitability</a>

Bank of Baroda expects 25-35 basis points rate hike from Dec 5-7 RBI policy meet

<ul><li>Chairman <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>, with a net worth of $72.4 billion, is leaving no stone unturned ⁠— whether it is in adding physical stores or technological might for <keyword id="8506093" type="UNKNOWN" weightage="20" keywordseo="Jiomart">JioMart</keyword>.</li><li>The RIL stock has gained 25.8% this year so far , analysts expect a lot more from RIL in the next few months.</li><li>While the big-ticket fundraising by Reliance <keyword id="2003276" type="PERSON" weightage="20" keywordseo="Jio">Jio</keyword> has caught the market’s fancy, the next round of unlocking potential value is likely to come from the retail vertical set for an IPO.</li><li>While a deal to buy out Kishore Biyani’s Future Retail is being worked out, here’s a look at the size and scope of Ambani’s existing retail unit, which is a giant in its own right. </li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider.</a></li></ul>According to Reliance Industries’ annual report, the retail vertical sold 20 million electronic units, 160 million garments, 2.6 billion units of grocery among other things last financial year. Reliance is already the country’s largest retail chain but Chairman Mukesh Ambani ⁠— with a net worth of $72.4 billion ⁠— wants more and he is leaving no stone unturned, whether it is in adding physical stores or technological might (including the reach and scale of WhatsApp) for its e-commerce platform JioMart. While the big-ticket fundraising by Reliance Jio has caught the market’s fancy, the next round of unlocking potential value is likely to come from the retail vertical, which is also headed for an initial public offering (IPO) soon. While a deal to buy out Kishore Biyani’s struggling Future Retail is being worked out, here’s a look at the size and scope of Ambani’s existing retail unit, which is a giant in its own right. To start with <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword> employs nearly 1.4 lakh people, and has almost 11,800 stores all across India selling everything from food and grocery, consumer electronics, to fashion and lifestyle. Adding Future Retail’s stores would straight away add 1,500 outlets to its network. Profit is a habit for Ambani Reliance Retail revenue and profit is twice as much as it was three years ago. In the last quarter, even with March being a tepid month, Reliance Retail posted an operating profit of ₹2,062 crore, up by 19.8% from the same quarter the previous year. <div type="image" title="retail charts." msid="76954033" hostid="261"></div> In the full year ending March 2020, it has added 1,500 stores and 30% to its total retail space. Reliance Retail saw 640 million footfalls during the year, and has a 125 million registered customer base, up 40% year-on-year. According to the report, the retail venture on an average adds three stores per day. <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;">Segment </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;">Brands </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;">Margin (Source: BOB Capital Markets) </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;">Food and Grocery </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 Fresh, Reliance Smart and 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;">6.5% </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;">Consumer electronics </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 Jio 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;">6.2% 2.2% </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;">Fashion and lifestyle </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 Trends, Project Eve, Reliance Footwear, Reliance Jewels and AJIO.com. </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;">24% </td></tr></tbody></table> Consumer electronics has been the big win for retail so far <div type="image" title="reliance revenue chart." msid="76954052" hostid="261"></div> 61% of the retail revenue comes from consumer electronics. “Reliance Retail, being the master distributor for Jio’s telecom services, is a strategically important entity. With 8,100+ Jio stores, the retail business is cleverly capitalising on Jio’s technology platform and moving between brick-and-mortar stores and the e-commerce business,” said a Bank of Baroda Capital Markets report. Essentially, Reliance Retail is not just selling technology, it is also using tech to boost its business Reliance is betting on e-commerce with its much talked about venture JioMart, which currently works on the offline-to-online model with kirana stores and is present across 200 cities. “The roadmap to this journey requires Reliance Retail to establish a complex yet robust physical and digital pan-India infrastructure and neatly weave this network to a smooth, sound and responsive operating system, which will enable Reliance Retail to serve consumers in partnership with traditional retailers,” Reliance’s annual report said. Facebook’s $5.7 billion investment in the company has meant that Reliance Retail and WhatsApp are now in a commercial partnership to accelerate JioMart’s growth. Reliance's various startup investments have been boosting its technological prowess like Haptik in the conversational AI (Artificial Intelligence) space, Fynd in the e-commerce sector, among various other bets in education, cloud, robotics, SaaS (Sofware as a service) and more. All this will take Reliance deep inside India’s heartland Reliance Retail already has extended beyond the big cities of India. “Under the Trends umbrella, retail operates Trends Small Town (a concept addressed to tier-3 and 4 towns). The concept has been well received by customers and has scaled up to 240 stores across 200+ towns in a short time,” said the report. And the tech investments may help it go far deeper and grow much larger. “We expect revenues to surge to ₹3.4 trillion by FY23 (33% of which will come from connectivity),” said the Bank of Baroda Capital Markets report from July. Post-covid retail All eyes will be on retail on the April-June 2020 earnings, as the coronavirus lockdown would have impacted the sales. But Reliance Retail with Mukesh Ambani’s deep pockets is likely to fare better than peers. “Business is re-imagining the store in a post COVID-19 world and reworking its interactions with customers when they come back, how they come back, their shopping journey, checkout and so on. Taking a 360 degree view of the customers, business is strengthening digital commerce and omni-channel capabilities, bolstering its supply chain / fulfillment capacity to handle 10x home delivery,” said Reliance in its annual report. The investments into the company and the planning for a future with new rules of the game have helped the stock <div type="image" title="RIL share (1)." msid="76954116" hostid="261"></div> While the stock has gained 25.8% this year so far ⁠— at a time when the Sensex has fallen 12.5% ⁠— analysts expect a lot more from RIL in the next few months <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;">Broking firm </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;">Target price </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;">Morgan Stanley </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;">₹1801 </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;">Angel Broking </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;">₹1937 </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/business/news/mukesh-ambani-jio-fiber-and-reliance-invit-set-to-raise-over-1-billion-from-abu-dhabi-and-saudi-sovereign-funds-for/articleshow/76888352.cms">Mukesh Ambani is not done – Jio Fiber to get over $1 billion as Abu Dhabi and Saudi sovereign funds are set to invest in Reliance InvIT</a> <a href="https://www.businessinsider.in/tech/news/google-ceo-sundar-pichai-announces-10-billion-investment-in-india/articleshow/76937372.cms">Google will invest $10 billion in India, as CEO Sundar Pichai says India will lead the next wave of innovation</a>

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Bank of Baroda expects 25-35 basis points rate hike from Dec 5-7 RBI policy meet

ANI

Mukesh Ambani’s next goal seems to be the ‘retail king of India’

Sanchita Dash

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