- Wall Street giant Morgan Stanley has estimated that value of Reliance Retail Stands at approximately $29 billion, with expected sales contribution from the JioMart e-commerce company over the next three years.
Wall Street giant Morgan Stanley has estimated that value of Reliance Retail Stands at approximately $29 billion, with expected sales contribution from the JioMart e-commerce company over the next three years.
In 2023, e-commerce is projected to account for 15 percent of core retail revenue figures, estimated at $19 billion, on the basis of which the valuation was based. Here the main retail sales exclude linking revenues (mobile recharges) and petro-retail, where British Petroleum has sold a share. The move comes as Reliance Retail tries to rope in strategic and financial investors for its telecom company after Mukesh Ambani’s record $20-billion fundraise.
Walmart ‘s latest $1.2-billion capital injection in Flipkart indicates that there is scope for multiple expansion if JioMart ‘s execution of growth plans improves and decreases investor skepticism, the study noted. JioMart also ramps up his Kirana onboard in non-metro cities as part of the acceleration of the latest trade initiative, according to a person aware of the matter.
“Several cities and towns such as Solapur, Kurnool, Madurai, and Jalandhar have started it. There is a separate website that has gone live to register for kiranas to join JioMart, so they can express interest and Jio can follow it up, “said this guy. JioMart, which clocks about 2.5 lakh orders daily in 200 cities, has now allowed kiranas to place business-to-business orders, as they can now order through Reliance Wholesale.
Last week, during the 43rd Annual General Meeting, Mukesh Ambani, Chairman and Managing Director of RIL, said that JioMart ‘s expansion is being accelerated and that they will foray into fashion and health care, electronics, and pharmaceuticals as well.
Shares of Reliance Industries Ltd. traded 1.81 percent up in Wednesday’s trade Around 106,462 shares changed hands on the counter.
The scrip opened at Rs 1983.8 and touched an intraday high and low of Rs 2001.75 and Rs 1960.0, respectively, in the session so far. Shares of the company of Reliance Industries Ltd. quoted a 52-week high of Rs 1978.5 and a 52-week low of Rs 867.11.
RIL has crossed the market cap of Rs. 13 Lakh Crore at the time of writing this report.
Reliance Jio has sought spectrum in certain frequencies from the Department of Telecom for holding trials of the latest 5G technology. The company’s wholly-owned US-based subsidiary Radisys has already started selling some of the 5G solutions to foreign companies.