New Delhi, Apr 28 () Outstanding loans amounting to Rs 68,607 crore of top 50 wilful bank loan defaulters in the country including firms of Mehul Choksi and Vijay Mallya have been technically written off till September 30, 2019, the Reserve Bank of India said in a RTI reply.Absconding dimantaire Choksi's company Gitanjali Gems tops the list of these defaulters with a whopping amount of Rs 5,492 crore, according to the list.This is followed by REI Agro with Rs 4,314 crore and Winsome Diamonds with Rs 4,076 crore.Rotomac Global Private Limited has funded advances of Rs 2,850 crore which have been technically written off and Kudos Chemie Ltd with Rs 2,326 crore, Ruchi Soya Industries Limited, now owned by Ramdev's Patanjali, with Rs 2,212 crore and Zoom Developers Pvt Ltd with Rs 2,012 crore being the other companies.Mallya's Kingfisher Airlines figures in the list at number 9, with outstanding of Rs 1943 crore which have been technically written off by the banks.Forever Precious Jewellery and Diamonds Private Limited has loans of Rs 1,962 crore written off while Deccan Chronicle Holdings Limited have Rs 1915 crore written off loans.Choksi's other firms Gili India and Nakshatra Brands also have loans of Rs 1,447 and Rs 1109 crore respectively written off.REI Agro of Jhunjhunwala brothers is already under the scanner of ED. The CBI and ED are also probing alleged fraud by the owners of Winsome Diamonds.Vikram Kothari's Rotomac is the fourth in the list. He and his son Rahul Kothari were arrested by the CBI for bank loan default. In the last Parliament session, Rahul Gandhi had asked the government to provide a list of top 50 bank loans defaulters in the country, leading to sharp exchanges and uproar in the Lok Sabha."The information on top 50 wilful defaulters and their sum of funded amount outstanding and amount technically/prudentially written off as on September 30, 2019 reported in CRILC by banks, is provided," the RBI said in its written response dated April 24.In his application, RTI activist Saket Gokhale had sought the list of defaulters as on February 16, but the RBI said the requested information is not available.The RBI said that according to section 8 (1)(a) of RTI Act 2005 read with para 77 of Supreme Court judgement of December 16, 2015 in Jayantilal N Mistry case, information on overseas borrowers is exempted from public disclosure."Data is as reported by banks and RBI will not be held responsibly or accountable for any misreporting and/or incorrect reporting by the reporting entities," the RBI said in the written reply to the RTI query. SKC ZMN

Over Rs 68,600 cr loans of wilful defaulters, including Choksi, Mallya firms, written off: RBI in RTI reply

Twitter received nearly 21 per cent more information requests for account information from the governments and law enforcement agencies worldwide in the July-December 2019 period compared to the previous reporting period. The micro-blogging platform that reimagined its biannual transparency report site into a comprehensive Twitter Transparency Centre said that the aggregate number of accounts specified in these requests increased by nearly 63 per cent. "The total volume of requests and specified accounts are respectively the largest we've seen to date since our transparency reporting began in 2012. We received government information requests from 91 different countries since 2012," it said in a statement late on Wednesday. Information requests from the US continue to make up the highest percentage of legal requests for account information. During this reporting period, 26 per cent of all global requests for account information originated within the US. The second highest volume of requests originate from Japan, comprising 22 per cent of global information requests. "We often receive non-government information requests to disclose account information of anonymous or pseudonymous Twitter accounts (requests to "unmask" the identity of the individual), which we frequently object to. Twitter objected to 23 US civil requests for account information that sought to unmask the identities of anonymous speakers on first amendment grounds during this reporting period. "We ended up litigating six of these requests. Twitter prevailed in four cases, lost one, and one is still pending. No information was produced in response to the other 17 requests". In this reporting period, Twitter received 27,538 legal demands to remove content specifying 98,595 accounts. This is the largest number of requests and specified accounts it received since releasing its first Transparency Report in 2012. "This record number of legal demands originated from 51 different countries. 86 per cent of the total global volume of legal demands originated from only three countries: Japan, Russia, and Turkey," Twitter said. The new Twitter Transparency Centre offers all disclosed data in one place and data visualizations, making it easier to compare trends over time. The Twitter archive of state-backed information operations is being used by researchers, journalists and experts around the world which now spans more than 9 terabytes of media, includes over 83,000 accounts, and over 200 million Tweets and is an industry-first resource. Twitter said it removed 86,799 unique accounts for promoting terrorism and violent extremism in the reporting period. Nearly 74 per cent of the unique accounts were proactively suspended using its internal, proprietary tools. There were 257,768 unique accounts suspended during this reporting period for violating Twitter policies prohibiting child sexual exploitation. "Hateful conduct expanded to include a new dehumanization policy on July 9, 2019. There was a 54 per cent increase in the number of accounts actioned for violations of our hateful conduct policy during this reporting period," Twitter informed. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/kepler-supernova-exploded-400-years-ago-but-hasnt-slowed-down-and-two-pieces-of-debris-are-headed-towards-earth/articleshow/77646381.cms">Kepler supernova exploded 400 years ago but hasn’t slowed down — and two pieces of debris are headed towards Earth</a> <a href="https://www.businessinsider.in/retail/news/heres-how-reliance-retail-stacks-up-against-some-of-its-global-peers-walmart-and-tesco/articleshow/77646302.cms">Here’s how Reliance Retail stacks up against some of its global peers – Walmart and Tesco</a> <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>

Twitter data shows a 21% increase in account information requests from governments

<ul><li>The BSE Sensex was trading 0.57% higher at 38,746.09.</li><li>These are the top stocks that are buzzing the D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices Sensex jumped over 200 points in early trade on Wednesday tracking positive cues from global markets and foreign fund inflows. The BSE Sensex was trading 0.57% higher at 38,746.09; while Nifty50 was up 0.56% at 11,448.95. SBI was the top gainer in the Sensex pack, rising around 2%, followed by L&amp;T, M&amp;M, ICICI Bank, Sun Pharma, Axis Bank, ITC and Bajaj Auto. On the other hand, HCL Tech, Nestle India, Tata Steel, Kotak Bank, and Infosys were among the top losers. These are the top stocks that are buzzing the D-street today. SBI shares up over 2% during the initial trade hours <div type="image" title="SBI August 19" msid="77627266" hostid="261"></div> State Bank of India shares gained over 2% after news surfaced that SBI is raising up to ₹10,000 crore in a bond sale. According to <a href="https://economictimes.indiatimes.com/markets/bonds/sbi-to-raise-up-to-rs-10000-crore-through-issue-of-tier-ii-bonds/articleshow/77625108.cms">reports</a>, it is this year’s first bond sale by the country’s biggest mass-lender and is expected to draw large domestic institutional investors, such as state-owned LIC and EPFO. Zee Entertainment shares gained over 4% <div type="image" title="Zee Enter" msid="77627333" hostid="261"></div> Despite posting 94.3 % fall in its net profit to ₹30.4 crore, Zee Entertainment shares were up 4%. The company has appointed Subhash Chandra as Chairman Emeritus and R Gopalan as Chairman of the board. Brokerage house Emkay believes that consistency and delivery will win back trust, they maintain ‘Hold’ rating with target at ₹190. Kotak also believes that this is a step in the right direction, but few more needed for further re-rating. Yes Bank shares advance 5% <div type="image" title="Yes bank August 19" msid="77627813" hostid="261"></div> Yes Bank shares soared 5% after the private sector lender repaid the central bank’s ₹35,000 crore out of the ₹50,000 crore of Special Liquidity Facility. It also divested more than 8% stake worth over ₹75 crore in CG Power and Industrial Solutions through open market transactions. Indiabulls shares opened 2% higher <div type="image" title="Indiabulls" msid="77627848" hostid="261"></div> Indiabulls was up 2% during the early trade hours after the Bengaluru-based realty firm Embassy Group signed an agreement to merge its various housing and commercial projects with Indiabulls Real Estate Ltd (IBREL) and take control of the merged entity. Embassy Group already has around 14% stake in Mumbai-based IBREL, and the same will increase to 45% after the merger of assets of these two companies. RIL shares up 1% after Netmeds acquisition <div type="image" title="RIL August 19" msid="77627935" hostid="261"></div> Reliance Industries shares gained nearly 1% after its subsidiary Reliance Retail Ventures Limited (RRVL) had acquired a majority equity stake in Vitalic Health Pvt Ltd and its subsidiaries (collectively known as Netmeds) for a cash consideration of approximately ₹620 crore. ICICI gained 2% in initial trading <div type="image" title="ICICI Bank August 19" msid="77627981" hostid="261"></div> ICICI Bank shares soared 2% after the Chinese central bank, People’s Bank of China acquired a very small stake in ICICI Bank through the recently closed ₹ 15,000 crore share sale by the country’s second-largest private sector lender. Uflex shares gained 6% <div type="image" title="uflex August 19" msid="77628006" hostid="261"></div> The packaging materials and solution company Uflex shares touched 52-week high after it reported over two-fold jump in its consolidated net profit to ₹196.54 crore for the first quarter ended June 30 Dilip Buildcon shares gained 4% <div type="image" title="Dilip August 19" msid="77628035" hostid="261"></div> Dilip Buildcon shares gained 4% after the company said it has received a letter of acceptance (LoA) for a new project worth ₹1,334.95 crore. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/ril-icici-bank-zee-ent-ruchi-soya-dixon-tech-cg-power-muthoot-finance-top-stocks-to-watch-today/slidelist/77625323.cms" data-type="tilCustomLink">Top stocks to watch today— RIL, ICICI Bank, Zee Ent, Ruchi Soya, Dixon Tech, CG Power, Muthoot Finance and more</a> <a href="https://www.businessinsider.in/business/startups/news/with-reliance-buying-netmeds-and-pharmeasy-merging-with-medlife-amazon-and-flipkart-are-in-for-a-tougher-competition-than-they-would-like/articleshow/77625512.cms" data-type="tilCustomLink">With Reliance buying Netmeds and PharmEasy merging with MedLife, Amazon and Flipkart are in for a tougher competition than they would like</a>

Top stock movers on Dalal Street today —SBI, Yes Bank, Indiabulls, RIL, Uflex and more

Indian banks have technically written off a staggering amount of Rs 68,607 crore due from 50 top wilful defaulters, including absconding diamantaire Mehul Choksi, according to a reply under RTI from the Reserve Bank of India (RBI). Prominent RTI activist Saket Gokhale had filed an RTI query with the RBI seeking details of the 50 top wilful defaulters and their current loan status till February 16. "I filed this RTI because Finance Minister Nirmala Sitharaman and Minister of State for Finance Anurag Thakur had refused to reply to this starred question asked in the Parliament by Congress MP Rahul Gandhi in the last Budget Session on February 16," Gokhale told IANS. Disclosing what the government didn't, the RBI's Central Public Information Officer <keyword id="135505" type="PERSON" weightage="20" keywordseo="Abhay-Kumar">Abhay Kumar</keyword> provided the replies on Saturday (April 24), with several startling revelations in the 'diamond-studded list', said Gokhale. The RBI said that this amount (Rs 68,607 crore) comprising outstanding and the amounts technically/prudentially written off till September 30, 2019. An inadvertent error had crept in a previous version of the report, which has now been now corrected. "The apex bank also declined to provide the relevant information on overseas borrowers citing a Supreme Court judgement of December 16, 2015," Gokhale told IANS. Topping the list is Choksi's scam-hit company, Gitanjali Gems Limited, which owed Rs.5,492 crore, besides other group companies, Gili India Ltd and Nakshatra Brands Ltd, which had taken loans of Rs 1,447 crore and Rs 1,109 crore, respectively. Choksi is currently a citizen of Antigua &amp; Barbados Isles, while his nephew and another absconder diamond trader <keyword id="740578" type="DOMAIN" weightage="20" keywordseo="Nirav">Nirav</keyword> Modi is in London. The second in the list is REI Agro Ltd., with an amount of Rs 4,314 crore, and its directors <keyword id="9131601" type="PERSON" weightage="20" keywordseo="sandip-jhujhunwala">Sandip Jhujhunwala</keyword> and <keyword id="984138" type="PERSON" weightage="20" keywordseo="Sanjay-Jhunjhunwala">Sanjay Jhunjhunwala</keyword> who are already under the scanner of the Enforcement Directorate (ED) since over a year. The next on the list in the Rs 4,000-crore bracket is absconding diamantaire Jatin Mehta's Winsome Diamonds &amp; Jewellery owing Rs 4,076 crore and which is being probed by the Central Bureau of Investigation for various bank frands. In the Rs 2,000-crore category, there is the Kanpur-based writing instruments giant, Rotomac Global Pvt. Ltd., part of the famed Kothari group, which owed Rs 2,850 crore. The others in this category include: Kudos Chemie, Punjab (Rs.2,326 crore), Baba Ramdev and Balkrishna's group company Ruchi Soya Industries Ltd., Indore (Rs.2,212 crore), and <keyword id="265518" type="COMPANY" weightage="20" keywordseo="Zoom-Developers">Zoom Developers</keyword> Pvt. Ltd., Gwalior (Rs.2,012 crore). There are 18 companies in the Rs.1K-segment with some prominent names like Harish R. Mehta's Ahmedabad-based Forever Precious Jewellery &amp; Diamonds Pvt. Ltd. (Rs.,1962 crore), and absconder liquor baron Vijay Mallya's defunct <keyword id="6373962" type="COMPANY" weightage="20" keywordseo="kingfisher-airlines">Kingfisher Airlines</keyword> Ltd. (Rs 1,943 crore). Another 25 companies fall in the sub-1K-crore category with outstandings ranging from Rs 605 crore to Rs 984 crore, either individually or as group companies. Six among the 50 top wilful defaulters are connected with the glittering diamond and/or gold jewellery industries. "A majority of them have defaulted prominent nationalist banks over the past several years and many of them are either absconding or facing action by various probe agencies and some are under litigation," Gokhale said. No industry is sacrosanct as the top 50 willful defaulters are spread across various sectors of the economy including IT, infrastructure, power, gold-diamond jewellery, pharma, etc. --IANS qn/in/arm

Indian banks might never recover ₹68,607 crore of bad loans says RTI data

<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>

You Searched For "ruchi soya industries" and got 5 results

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