Indian conglomerate Reliance denied a report Thursday that it was planning to sell a $20-billion stake in its retail business to US rival Amazon in a deal that could upend the country’s hugely lucrative e-commerce sector. The report published by Bloomberg on Thursday said that Reliance, owned by Asia’s richest man Mukesh Ambani, had offered … Read more
Amazon CEO Jeff Bezos wrote in his statement to the antitrust House committee last week that Shopify is a new competitor. Shopify CEO Tobi Lutke, however, said Amazon is not a “direct competitor” during the company’s earnings call last week. E-commerce experts say they’re “indirect” competitors that effectively play in the same field. Visit Business … Read more
That could either have meant that Jio Platforms would raise about $5.7 billion more, or sell another 10% stake. But as it turns out, the company has ended up selling an additional 12.4% stake already to global investors, and has raised $8 billion more. At the rate Jio Platforms is signing up investments—$1.3 billion per … Read more
“Monopolies are wrong,” Musk tweeted while tagging Bezos, the world’s wealthiest man. Musk’s post came in response to a tweet from a writer who said his book titled “Unreported Truths About COVID-19 and The Lockdown” was being removed from Amazon’s Kindle publishing division for violating unspecified guidelines. Time to break up Amazon. Monopolies are wrong! … Read more
Societe Generale’s Albert Edwards says tech stocks face a downfall similar to the dot-com bust he forewarned about in the late 1990s. While acknowledging their market leadership so far during this pandemic, he warns that their prices are rising at an unsustainable pace relative to profit growth. He likened the appeal of tech stocks today to … Read more
For the quarter ended December 31, 2019, DMart reported a 53.3 per cent yoy rise in net profit at Rs 394 crore. Profit before tax for the period under review stood at Rs 497.34 crore, a YoY growth of nearly 26 per cent. Net sales for the period grew nearly 24 per cent to Rs … Read more
Since its IPO in March 2017, Dmart share price has increased to more than 400% currently. Company continues to remain fundamentally strong on most parameters. However, there is something else that is changing…..