TCS is ranked at the top, Infosys is ranked number 3, followed by HDFC, Airtel, LIC, Mahindra, SBI and ICICI…reports Asian Lite News
Reliance has two brands in the top ten list of Indian brands, as per a recent report.
As per an Interbrand report, Reliance Industries is ranked number 2 and Jio is ranked number 5 in the top ten list of Indian brands for 2023.
TCS is ranked at the top, Infosys is ranked number 3, followed by HDFC, Airtel, LIC, Mahindra, SBI and ICICI.
The Total List Value is US$ 100 billion with a growth of 167 per cent in the last 10 years. The GDP growth over the decade is 138 per cent. The Total Value of the table has reached US$ 100 billion for the first time ever, Interbrand report said.
The brand value of Top 3 brands makes up 46 per cent of the Total Value of top ten brands. Top five brands represent more than a third (40 per cent) of the total value of the Table. For the first time ever in 10 years, there are three Technology Brands in the Top 5.
The Total Brand Value of Top 10 brands (INR 4,950 billion) is more than the value of the rest of the table (40 brands: Total Value: INR 3,360 billion) Fastest Growing Sectors over the last decade are FMCG (CAGR 25 per cent), Home Building & Infrastructure (CAGR 17 per cent) and Technology (CAGR 14 per cent).
The Home Building & Infrastructure sector has grown the most (from INR 69 billion to INR 344 billion), followed by Technology (from INR 693 billion to INR 2.5 trillion) over the last 10 years. While the Financial Services sector still has the greatest number of brands, nine, and the Home Building & Infrastructure sector has seen the highest jump in terms of the number of brands with seven brands since 2014.
Reliance Consumer Products partners with General Mills to launch Alan's Bugles in India
For the first time ever, snackers in India can enjoy Bugles, the international corn chips snacks brand with more than 50 years of heritage…reports Asian Lite News
Reliance Consumer Products Limited (RCPL), the FMCG arm and a wholly-owned subsidiary of Reliance Retail Ventures Limited (RRVL), on Friday announced its foray into the western snacks category with the launch of Alan’s Bugles in India.
For the first time ever, snackers in India can enjoy Bugles, the international corn chips snacks brand with more than 50 years of heritage, owned by General Mills and available across major global markets, including the UK, US and the Middle East.
Speaking on the launch, an RCPL spokesperson said, “With the launch of Alan’s, we want to ensure that the aspirational Indian consumer gets to taste and enjoy rich and premium offerings to satiate their snacking needs. We intend to actively participate in the growing western snacks market with greater focus on taste profile and overall experience. We are excited to launch range of Alan’s snacks starting with Bugles, which is yet another step towards expanding our footprint in the FMCG market.”
Alan’s Bugles will offer a top-notch snacking experience to Indian consumers and will be available at pocket-friendly price points starting from Rs 10 in flavours such as Original (Salted), Tomato and Cheese. The launch is in line with RCPL’s vision of offering quality products to Indian consumers at affordable price points.
Sheshadri Savalgi, Finance Director at General Mills India, said, “General Mills is thrilled to have one of its most globally loved brands – Bugles in India. Bugles are iconic cone-shaped corn chips with a light and airy crunch. What started in 1964 as the first delicious horn-shaped corn chip, has expanded across the globe. We look forward to seeing snack lovers across India enjoy Bugles that is loved by consumers globally!”
RCPL’s launch of Alan’s Bugles will start from Kerala and will be gradually expanded across India. With the launch, RCPL further strengthens its versatile FMCG portfolio comprising a wide beverage range under Campa, Sosyo and Raskik, daily essentials under Independence, confectionery under Toffeeman, biscuits under Maliban and home and personal care range under Glimmer and Dozo, among others.
Commenting on the results of initiatives, Ambani said Jio continues to digitally empower millions of citizens across the nation, extending True 5G reach to 2,300+ cities and towns in a short span of 6 months…reports Asian Lite News
Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited (RIL) has said that Reliance’s initiatives in digital connectivity and organised retail are driving greater efficiencies in the economy and contributing to India’s emergence as one of the fastest growing economies in the world.
Commenting on the results, Ambani said Jio continues to digitally empower millions of citizens across the nation, extending True 5G reach to 2,300+ cities and towns in a short span of 6 months.
With steady growth in mobility and FTTH subscriber base and an expanding bouquet of content and digital services, the Jio business continues to deliver impressive growth in operating profits.
“Retail business registered excellent growth numbers backed by expansion of physical and digital footprint and a significant increase in footfall. We continue to expand our product base across consumption baskets, ensuring our customers get world-class products at affordable prices. Our retail team has an unwavering focus on enhancing consumer experience and ease of shopping,” Ambani said.
Ambani said O2C segment posted its highest-ever operating profit despite global uncertainties and disruptions in commodity trade flows.
“Our oil and gas segment also delivered very strong growth and is now poised to contribute nearly 30 per cent of India’s domestic gas production,” Ambani said.
“This year we have proposed to demerge our financial services arm and list the new entity ‘Jio Financial Services Ltd’. This gives our shareholders an opportunity to participate in an exciting new growth platform from inception,” Ambani said.
reliance industries limited
“Implementation of our New Energy giga factories at Jamnagar is making significant progress. This puts us on track to achieve our goals of transitioning to cleaner energy and enabling sustainable growth. I believe Reliance’s significant investments and strategic partnerships in the renewable energy vertical will help transform the energy landscape of India and the world, in the coming years,” he said.
Isha M. Ambani, Executive Director, Reliance Retail Ventures Limited, said: “Reliance Retail continues on the path of registering industry leading growth year after year at a scale unmatched in India. At Reliance Retail we remain committed to delivering exceptional value to our customers while driving sustainable growth for our business and various stakeholders in the ecosystem. Our focus on customer-centricity backed by investments in technology, innovation and new business segments have helped us create operational excellence and steer the transformation of India’s retail sector.”
Reliance Retail delivered robust performance with another year of strong revenue growth and profit performance.
The business recorded Gross Revenue of Rs 2.60 lakh crore for FY23, a growth of 30 per cent over last year driven by broad based growth across consumption baskets.
The business continues its strong track record of profit growth registering an EBITDA of Rs 17,928 crore, higher by 45 per cent Y-o-Y. EBITDA before Investment Income was at Rs 17,609 crore, higher by 61 per cent Y-o-Y.
The business delivered robust LFL growth across consumption baskets on the back of high footfalls and conversions.
With focus on store network expansion, the business grew its store footprint across consumption baskets. This year the business opened over 3,300 stores, taking total count to 18,040 stores with a total area of 65.6 million sq. ft.
The year reflects an unprecedented growth of retail footprint as business has added 25 million sq ft store area representing more than 50 per cent growth of retail space Y-o-Y.
Investments in boosting supply chain infrastructure remained a priority to deepen warehousing and fulfillment capabilities with addition of 12.6 million sq. ft. of warehouse space during the year.
The business continued to innovate, launch and scale up new retail formats to serve diverse customer segments. The year witnessed number of such new format launches including Smart Bazaar, Azorte, Centro, Fashion Factory and Portico.
Leveraging omni channel capabilities, digital commerce platforms led by JioMart and AJIO sustained growth momentum and continued to serve customers far and wide.
New Commerce business continued to grow rapidly with expansion of its merchant partner network across geographies. The business crossed a milestone of 3 million merchant partners during the period.
Digital Commerce and New Commerce businesses contributed to 18 per cent of the revenue.
The business continued to attract and serve millions of customers across the country. The registered customer base grew to 249 million, a growth of 29 per cent Y-o-Y. The Total transactions crossed a milestone of 1 billion transactions, up 42 per cent Y-o-Y. Stores recorded footfalls of over 780 million, which were up 50 per cent Y-o-Y.
The business added new growth initiatives to its portfolio by foraying into FMCG and Beauty businesses.
The FMCG business launched several products during the year including ‘Independence’ brand and the iconic beverage brand, ‘Campa’. The beauty business launched digital commerce platform ‘Tira’ and opened its flagship store in Mumbai. These businesses would be ramped up progressively in the coming period.
The release said that the parties have also executed a shareholder’s agreement governing certain inter se rights and obligations….reports Asian Lite News
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Reliance Consumer Products Ltd (RCPL), a wholly-owned subsidiary of Reliance Retail Ventures Limited (RRVL), will acquire 51 pc controlling stake in Lotus Chocolate Company Limited and make an open offer to acquire up to 26 per cent stake.
RCPL will acquire 65,48,935 equity shares of LOTUS representing 51 per cent of the paid-up equity share capital of the company from the current promoter and promoter group of Lotus at a price per share of Rs. 113.00 aggregating to Rs. 74 crore.
A Reliance Retail release said that RCPL and certain promoter group entities of LOTUS will subscribe to 5,07,93,200 non-cumulative redeemable preference shares of face value of Rs 10 each at par.
RCPL, RRVL, Lotus Chocolate Company Limited (LOTUS) and Prakash P Pai, Ananth P Pai and other members of the current promoter and promoter group of LOTUS executed definitive agreements on Thursday.
The release said that the parties have also executed a shareholder’s agreement governing certain inter se rights and obligations.
“RCPL would make a public announcement to the public shareholders of LOTUS to acquire up to 33,38,673 equity shares representing 26 per cent of the equity share capital of LOTUS in accordance with the SEBI Takeover Regulations,” the release said.
It said the capital infused by RCPL will help drive the growth and expansion of LOTUS into a comprehensive confectionery, cocoa, chocolate derivatives and related products manufacturer across industrial and consumer market spectrum “backed by state-of-the-art manufacturing, best-in-class processes and people”.
Speaking about the transaction, Isha Ambani, Executive Director of Reliance Retail Ventures Limited, said, “Reliance is excited to partner with LOTUS who have created a strong cocoa and chocolate derivatives business through sharp business acumen and perseverance. The investment in LOTUS underlines our commitment to further boost indigenously developed daily use high-quality products, to serve a broad customer spectrum at affordable prices. We look forward to working with the highly experienced management team of LOTUS as we further expand the business and drive its next growth phase.”
Abhijit Pai, Founder-Promoter of LOTUS, said they are delighted to enter into this partnership with Reliance.
“We have a vision to build a world-class confectionery products business across customer segments backed by best-in-class manufacturing capabilities and talent. Our strategic partnership with Reliance, through this investment, will further enable this vision and accelerate Lotus’ transformation,” he said.
RRVL is a subsidiary of Reliance Industries Ltd and the holding company of all the retail businesses under the RIL group.
  RRVL, through its subsidiaries and affiliates, operates more than 16,500 own stores and partners with over two million merchants across grocery, electronics, apparel, pharmacy, lingerie, home and furnishing, beauty and personal care. It also operates the largest network of omni-channel business through Jio Mart, Ajio, Netmeds, Zivame and other online channels. (ANI)
Reliance’s market capitalization grew at an annualized rate of 20.6 per cent in last 20 years from Rs 41,989 crore in March 2002 to Rs 17,81,841 crore in March 2022…reports Asian Lite News
Mukesh Ambani took over as the Chairman and Managing Director of Reliance Industries Limited (RIL) after the demise of his father and Reliance founder, Dhirubhai Ambani on July 6, 2002.
In 2022, he completes two decades at the helm of Reliance Industries. In these 20 years, the company has achieved a consistent strong double-digit growth across revenues, profits, net worth, assets as well as market capitalisation.
Reliance’s market capitalization grew at an annualized rate of 20.6 per cent in last 20 years from Rs 41,989 crore in March 2002 to Rs 17,81,841 crore in March 2022.
Reliance’s revenues grew at an annualized rate of 15.4 per cent from Rs 45,411 crore in FY 2001-02 to Rs 792,756 crore in FY 2021-22.
Reliance’s net profit grew at an annualized rate of 16.3 per cent from Rs 3,280 crore in FY 2001-02 to Rs 67,845 crore in FY 2021-22.
Reliance’s exports grew at an annualized rate of 16.9 per cent from Rs 11,200 crore in FY 2001-02 to Rs 254,970 crore in FY 2021-22.
Reliance’s total assets grew at an annualized rate of 18.7 per cent from Rs 48,987 crore in March 2002 to Rs 14,99,665 crore in March 2022.
Reliance’s net worth grew at an annualized rate of 17.0 per cent from Rs 27,977 crore in March 2002 to Rs 645,127 crore in March 2022.
Reliance added Rs 17.4 lakh crore to investor wealth during these two decades, which is an average of Rs 87,000 crore every year.
Reliance started several new businesses in these two decades. Reliance Jio started operations in 2016, Reliance Retail started operations in 2006, Reliance’s E&P business made the first hydrocarbon discovery in late 2002 and production started in 2009.
Reliance’s traditional businesses of refining and petrochemicals too flourished and expanded many-fold in last two decades.
In 2002, Reliance had a single refinery at Jamnagar. A second 100 per cent EOU refinery was set up by 2009 nearly doubling RIL’s refining capacity with unique capability to convert the worst of crudes into the best of exportable fuels. With this, Jamnagar became world’s largest single location refining complex.
The J3 expansion over 2012 to 2016 added some of world’s largest and most unique downstream units. For example, Reliance set up world’s largest Refinery Off-Gas Cracker at Jamnagar. It also added world’s largest petcoke gasification unit. It also set up world’s first-ever virtual pipeline across the world to import ethane from the US to diversify feedstock.
India’s ongoing rally might get extended, if the market’s big bull — Reliance Industries — stock started to participate in the up-move, say market watchers.
Reliance Foundation, backed by Reliance Industries, came up in 2010 to spearhead the company’s philanthropic initiatives under the leadership of Nita Ambani. Reliance Foundation has touched the lives of more than 6.3 crore people in India through its various initiatives like rural empowerment, nutrition security, ecological conservation, education, and sports until 2022.
Reliance Foundation is India’s biggest corporate social responsibility initiative by reach, as well as by spend.
After the launch of Jio, India became the data capital of the world and the cost of data/GB fell from Rs.500 to Rs 12. India’s ranking in Broadband data consumption moved from 150 in 2016 to No.1 in 2018 thanks to Jio.
Thanks to Reliance Retail, today residents of Tier II and III towns in India have access to similar shopping experience that is enjoyed by those living in the metro cities.
Indians had to travel to Dubai or Singapore to shop global brands like Armani, Gas, Diesel etc. Now Reliance Retail has brought them all to India through partnerships.
India now has a world-class convention centre in Mumbai, with the world’s best infrastructure for international exhibits, conventions and meetings. The Jio World Centre will host the International Olympic Committee’s next session in 2023.
Reliance Industries set the foundation for New Energy Business committing over Rs 75,000 crore investment in three years to set up five uniquely integrated Giga Factories at Jamnagar with the world’s latest technology. This will have first-of-its-kind ‘quartz-to-module’ solar panel facility. The ultimate aim is to emerge world’s lowest cost producer of solar energy and green hydrogen.
Reliance has set a target to become Net Carbon Neutral by 2035, contributing to India’s net carbon zero mission. Reliance will start 10GW of solar PV cell and module factory by 2024, to be scaled up to 20GW by 2026. By 2025, RIL plans to generate its entire round-the-clock (RTC) power and intermittent energy for Green Hydrogen from captive solar power plants.
Reliance set a record of capital fund raising during the most difficult period of Covid lockdowns in 2020-21. It raised more than Rs 2.5 lakh crore through Rights Issue, and minority stake sale in Jio Platform and Reliance Retail Ventures to global marquee investors.
During FY2021, Reliance was the single-largest FDI generator for India.
Reliance is leading India’s Sustainability solutions in the petchem and polyester sector. It is actively supporting India’s textile value chain in adopting sustainable, circularity concepts
Reliance Industries brought bp, one of the global petroleum industry leaders, as a partner in its Indian fuel retailing business.
Reliance Mobility Solutions has brought latest technology and offerings for consumers at petro-retail outlets through the Jio-bp brand. It aims to offer new experience in buying fuel with high quality service, and making the retail outlets future-ready with charging and battery swap facilities.
The tribunal had allowed Jio to deposit Rs 3,720 crore in the escrow account of SBI…reports Asian Lite News
Reliance Jio Thursday completed the acquisition of Reliance Communication Ltd.’s (RCOM) tower and fiber assets by paying Rs 3,720 crore to the lenders.
According to sources, the company has deposited Rs 3,720 crore in the escrow account of the State Bank of India (SBI).
In November, the National Company Law Tribunal (NCLT) had given its approval to Jio for the acquisition of Reliance Infratel (RITL), an RCOM subsidiary that houses the tower and fibre assets.
The tribunal had allowed Jio to deposit Rs 3,720 crore in the escrow account of SBI.
On November 6, Jio moved a petition in the NCLT Mumbai proposing to deposit Rs 3,720 crore in an escrow account of SBI to complete the acquisition of Reliance Infratel.
In November 2019, Jio had placed a bid of Rs 3,720 crore to acquire the tower and fibre asset of RCOM.
The Committee of Creditors has already approved the resolution plan by Jio on March 4, 2020, with a 100 per cent vote, but the acquisition process could not reach finality due to the differences between the lenders over the distribution of funds.
According to an application moved by Reliance Projects and Property Management Services, a subsidiary of Jio, the company had said that due to the pendency of the proceedings over the distribution of the amount and issuance of the ‘no dues’ certificate, implementation of the resolution plan is delayed.
The petition said, “Such delay is causing severe harm to the interest of the corporate debtor as well as the resolution applicant, and such delay will deteriorate the value of assets.”
RITL has fibre assets of around 1.78 lakh route kilometers and 43,540 mobile towers across the country.
According to the NCLT order, the funds will be distributed amongst the lenders once the inter-creditor dispute over the distribution of resolution funds is settled.
SBI and a few other banks, including Doha Bank, Standard Chartered Bank, and Emirates Bank, are engaged in a legal battle over the distribution of funds.
The matter is pending before the Supreme Court.
Doha Bank had challenged the classification of claims from the indirect creditors of RITL as the financial creditors by the resolution professional.
India's ongoing rally might get extended, if the market's big bull -- Reliance Industries -- stock started to participate in the up-move, say market watchers.
The rankings are based on Wizikey’s News Score which measures news visibility for brands & individuals by analyzing the volume of news, headlines presence, and the reach of publications…reports Asian Lite News
Reliance Industries Ltd, India’s largest corporate by revenues, profits, and market value, topped the 2022 Wizikey Newsmaker report as India’s most-visible corporate in the media.
State Bank of India (SBI), ICICI Bank Limited, Bharti Airtel Limited, and One 97 Communications Limited are in the top 5 corporates on the ranking.
The rankings are based on Wizikey’s News Score which measures news visibility for brands & individuals by analyzing the volume of news, headlines presence, and the reach of publications.
Wizikey’s, AI and ML technology gathers media intelligence from over 50 million news articles across 400,000+ online publications.
The report considered over 1,000 Indian corporates for analysis.
This latest report by Wizikey, Asia’s fastest-growing communications technology and PR software recognizes the hottest companies and Newsmakers of 2022, that have been visible for various reasons from investments, acquisitions, partnerships, and more.
Reliance Industries Limited, from various acquisitions of brands like Mandarin Oriental, Addverb Technologies, Campa Cola, & more to announcing Rs 3.5 trillion investments, and awarded the project to make India’s first multimodal logistics park and much more news contributed to Reliance being number one position for consecutive three years.
SBI also made various investments in companies. From various partnerships and signing MoUs to various news related to writing loans off and raising Rs 10,000 crore through infrastructure bonds contributed to reaching the second position.
ICICI Bank Limited, from various acquiring stakes in multiple companies such as Gift City Clearing Corp, Verve Financial Services, NARCL, and more, to allotting lakhs of equity shares under ESOS, and profit surges making it the third most visible corporate.
Bharti Airtel Limited made quite a buzz during the launch of 5G and crossed the 1 million user mark, to various features, plans & product launches across Airtel, Airtel payments bank, Airtel XStream contributed highly in taking over the fourth position.
One 97 Communications Limited, which have less listed less than a year ranked fifth in the list, from Stock price fall to buyback of shares, to launching various services such as BNPL for train ticket booking via IRCTC, various hiring and changes in top-level positions contributed to making it the fifth most visible company.
Commenting on this year’s report, Aakriti Bhargava, Co-founder, and CEO of Wizikey, said: “2022 saw both lows and highs on the Sensex, with companies navigating economic pressures amidst the war and rising crude oil prices. Wizikey’s Newsmakers Ranking series aims to highlight the corporates that created news in the year. This is the world’s most exhaustive ranking based on an algorithm that looks at more than 50 million data points collected over the year across 400,000 domains.”
Infosys Limited(6), Tata Consultancy Services Limited (7), Housing Development Finance Corporation Limited (8), Maruti Suzuki India Limited (9), Tata Motors (10), HDFC Bank Limited (11), recently listed startup Zomato Limited ranked at 12th spot, followed by Wipro Limited (13), Axis Bank Limited (14), NTPC Limited (15), Tata Steel Limited (16), ITC Limited (17) Larsen & Toubro Limited (18), Life Insurance Corporation of India (19), Pfizer Limited (20).
BFSI emerged as the hot sector contributing to the highest number of companies (98) in the top 500.
Meanwhile, Reliance Industries Ltd and two Adani group companies — Adani Transmission and Adani Enterprises — were the biggest, fastest and most consistent wealth creators between 2017 and 2022, said a study by Motilal Oswal Financial Services Ltd.
According to the study, Adani Enterprises and Adani Transmission are also the top all-round wealth creators.
During 2017-22, the top 100 wealth creators of India Inc created wealth amounting to Rs 92.2 lakh crore, the highest ever so far, Motilal Oswal said.
The Motilal Oswal 27th Annual Wealth Creation Study 2022 analysed the top 100 wealth creating companies between 2017 and 2022.
Wealth created is calculated as change in the market cap of companies between 2017 and 2022 (ending March), duly adjusted for corporate events such as mergers, de-mergers, fresh issuance of capital, buyback etc.
The study identifies the fastest, biggest and most consistent wealth creators, the company said.
For the fourth time in a row, Reliance Industries has emerged the largest wealth creator over 2017-22, taking RIL’s overall No.1 tally to nine in the last 16 five-year study periods.
TCS, Infosys and HDFC Bank remain among the top five wealth creators, Motilal Oswal said.
As part of the collaboration, all the OnePlus 5G devices will be powered by Jio ‘True 5G’ technology…reports Asian Lite News
Reliance Jio on Monday collaborated with global technology brand OnePlus to bring in the evolutionary stand-alone 5G technology ecosystem in the country.
As part of the collaboration, all the OnePlus 5G devices will be powered by Jio ‘True 5G’ technology.
The Jio and OnePlus teams have been actively working together at the backend to make 5G technology more accessible to the consumers and continue to expand their 5G technology services across the product portfolio.
“The real power of a 5G smartphone can only be unleashed by a True 5G network like Jio, that is built as a Standalone 5G network, the most advanced network of its kind. Jio True 5G will enable hundreds of new and powerful experiences that can be experienced on a leading device like OnePlus,” said Sunil Dutt, President, Reliance Jio Infocomm Ltd.
OnePlus devices with access to the Jio True 5G network include the latest OnePlus 10 Series, OnePlus 9R, OnePlus 8 Series as well as the Nord, Nord 2T, Nord 2, Nord CE, Nord CE 2 and Nord CE 2 Lite.
Similarly, OnePlus 9 Pro, OnePlus 9 and OnePlus 9RT will also have access to the Jio True 5G network shortly, said the company.
“With 5G technology, users will enjoy a truly seamless, speedy internet experience, while achieving a lot more from their daily use of smartphones than they could possibly imagine,” said Navnit Nakra, OnePlus India CEO and Head of India region.
Consumers can get cashback benefits worth Rs 10,800 which will be provided for eligible OnePlus and Jio 5G users during the OnePlus anniversary sale period from December 13-December 18.
OnePlus led the 5G smartphone market in the affordable premium segment (Rs 30,000-Rs 45,000) as well as Rs 20,000-Rs 30,000 price segment in India.
Assuming the 6.1 per cent stake in RIL is realised over time, with a Rs 1 trillion networth, JFS could be the fifth-largest financial services firm in India….reports Asian Lite News
After demerger, Jio Financial Services (JFS) could be the fifth-largest financial services company in terms of networth, foreign brokerage, Macquarie said in a report.
Reliance Industries (RIL) recently made an announcement to demerge its financial services business and rename it Jio Financial Services (JFS).
RIL would transfer 6.1 per cent RIL shares held by its wholly owned subsidiary to JFS. This clearly shows the grand ambitions the group has in financial services.
JFS will differ from most other fintechs, as it will have access to huge amounts of data, gathered from non-financial relationships; it can process and analyse this data in real time, to offer financial services, similar to Alibaba, Amazon, Apple, Facebook and Google.
Also, unlike other fintechs, JFS will have a large balance sheet, not be asset-light and eventually manufacture most product offerings, giving it a significant competitive advantage, in our view.
Assuming the 6.1 per cent stake in RIL is realised over time, with a Rs 1 trillion networth, JFS could be the fifth-largest financial services firm in India.
RIL already has a NBFC licence which it can leverage to kick start consumer/merchant lending in a big way. Also, IRDA has been open to giving insurance licences and RIL may get into insurance verticals.
JFS can be a real threat to fintech business models as well as NBFCs, in our view. JFS not only can offer attractive rates in merchant lending and digital unsecured lending markets, but also be reasonably competitive in the secured lending market eventually, in our view.
Reliance group has a network of more than 15,000 stores across several formats (supermarkets, digital stores, etc) and a vast customer base of 400 million+ in telecom and 200mn+ in retail (there could be overlaps here).
JFS can leverage on network effects and in concept be a formidable threat for incumbents, Macquarie said.
Considering banks have significant cost of funds advantage and ability to do a lot more business that NBFCs cannot do, JFS’s impact on the banking sector could be a bit more moderate.
Reliance Games partners with Atari to expand their Free-to-Play.
The collaboration combines Reliance Games’s expertise in game development, data analysis and Live Operations with Atari’s popular free-to-play portfolio…reports Asian Lite News
Reliance Games, which entered into a strategic partnership with Atari in August 2022, has acquired
the rights to publish Citytopia, an exciting city builder and management game.
The collaboration combines Reliance Games’s expertise in game development, data analysis and Live Operations with Atari’s popular free-to-play portfolio and its vast experience in offering addictive gameplay.
Atari is one of the world’s most iconic consumer brands and interactive entertainment producers. It owns and/or manages a portfolio of more than 200 games and franchises, including world-renowned brands such as Asteroids, Centipede, Missile Command, Pong, and RollerCoaster Tycoon.
Citytopia comes with beautiful 3D graphics and an innovative needs-based objective system. Citizens need goods and work, factories want to create goods and employ workers, and stores are looking for goods and people to supply. Citytopia gives players the freedom to create, build and manage their own thriving metropolis.
With more than 500 million downloads and serving up over five billion game sessions per year, Reliance Games has proven expertise and a successful track record working with major brands and entertainment IPs.
The lineup of Reliance Games blockbusters includes WWE Mayhem, Real Steel Robot Boxing Games, Monster Trucks Racing, Hotel Transylvania, Pacific Rim, and a slew of other exciting mobile games developed in association with the biggest corporations and Hollywood studios
The Atari partnership builds on Reliance’s expansion to provide investment, consultancy and Live Ops support for development studios around the world.
Amit Khanduja, CEO, Reliance Entertainment Digital, said: “Reliance Games has been integral to the development of the free-to-play space in mobile gaming. We are excited to continue exploring and evolving that space now leveraging Atari’s immensely engaging content. It’s hard to imagine a more appropriate partner to help us play on to our strengths and bridge the gap between players and the entertainment they crave.”
As part of the agreement, Reliance and Atari have agreed to explore collaborating on additional mobile game titles from Atari’s portfolio. Wade Rosen, CEO, Atari said: “Reliance Games is a leader in the free-to-play space and we are excited to be working with them on mobile games. This partnership ensures that our portfolio of mobile games will continue to provide value to players and to our shareholders.”
