retail
Relience Industries
| March 31, 2024, 9:54 a.m.
Reliance Industries Invests Over $125 Billion in Past Decade, Shifts Focus to Retail and New Energy
Reliance Industries has undergone extensive investment in both hydrocarbon and telecom sectors, with approximately $30 billion allocated to enhancing its oil-to-chemical business and nearly $60 billion towards developing 4G/5G capabilities in the telecom sector. With the completion of pan-India 5G rollout and potential tariff hikes in telecom, the company anticipates strong free cash flow generation. Future investments will target retail and upstream new energy sectors, which offer higher returns, shorter gestation periods, and lower capital requirements compared to previous ventures. Retail expansion has seen aggressive store expansions and omni-channel investments, driving significant growth in EBITDA. In the new energy segment, Reliance plans substantial investments in fully integrated solar and battery manufacturing plants, followed by deployment of solar downstream, electrolyser, and wind capacities.
Read More.| March 31, 2024, 9:33 a.m.
Bank of India Raises Lending Rate, Loans to Become Costlier
Bank of India has decided to raise its lending rates by 10 basis points, making loans, including retail ones, more expensive for borrowers. The adjustment in lending rates precedes the upcoming monetary policy announcement by the Reserve Bank of India. Effective from April 1, the new rate hike will increase the repo-based lending rate to 9.35 per cent. Additionally, Indian Bank has also raised its lending rates by 5 basis points, with the new rates set to be effective from April 3.
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