Sunday, September 20
After pushing its own mobiles and soft drinks into India's vast consumer market, Reliance Retail has set its eyes on selling refrigerators, ACs and washing machines in a segment dominated by global giants such as LG and Samsung. The company is rolling out a bold strategy anchored in legacy, scale and disruption to dominate the fast-growing consumer durables business. Reliance Retail has been expanding its private-label portfolio and growing its footprint in home electronics and appliances, a segment boosted by rising incomes, urbanisation and mounting competition. As of June 2024, India's consumer goods market was the fastest-growing among major economies and could nearly double to Rs 3 lakh crore by 2029, according to an EY report.Reliance Retail's foray into the consumer durables segment
The Bureau of Indian Standards (BIS) on Friday announced the inclusion of 9 Karat gold under the list of mandatory hallmarking categories, effective July 2025. The standard defines specifications for fineness and marking of gold jewellery and artefacts.With this inclusion, the list of hallmarking grades now comprises: 24KF, 24KS, 23K, 22K, 20K, 18K, 14K and now 9K (with minimum fineness of 375 parts per thousand). Jewellers and hallmarking centres are required to comply with this addition under the BIS regulations, said All India Gem & Jewellery Domestic Council in a post on X. “9 Karat Gold (375 ppt) is now officially under mandatory hallmarking as per BIS Amendment No. 2 All jewellers & hallmarking centres must comply,” the council said.As per the amendment, 9 Karat gold, ear
The conglomerate Adani Group on Friday completely exited Fortune oil producer AWL Agri Business, earlier known as Adani Wilmar, by selling the remaining 10.42% stake to a clutch of investors from the US, UK, Middle East, and India, according to people aware of the matter.The block trade was executed at a share price of Rs 275.5 per share, in which buyers were said to be marquee investors from the US, UK, Middle East, and India. AWL Agri Business shares were trading at Rs 277.30 in the morning session on BSE.Adani Enterprises had yesterday announced selling a 20% stake to Singapore's Wilmar International, its joint venture partner in the business, in a Rs 7,150 crore deal.Adani Commodities Ltd (ACL), a wholly-owned subsidiary of Adani Enterprises Ltd, has now raised about Rs 10,900 crore in
