After a stellar earnings season in Q4 of FY21, India’s growth engine seems to have lost its steam in the June quarter because of the second wave of the Covid-19 pandemic.
The oil-to-telecom behemoth has created a strong balance sheet that supports growth plans for three hyper-growth engines—Jio, Retail, and O2C. And as part of CSR, it’s also in the healthcare space.
The oil-to-telecom conglomerate is trying its best to deal with the second wave of Covid-19-induced disruptions in its retail operations. But it will be difficult for Reliance Retail to escape unhurt.
The pandemic, ultimately, was unsuccessful in denting the country's capital raising confidence, as India Inc. raised over ₹1.88 lakh crore, beating the record of over ₹1.75 lakh crore raised in FY18.
The auction made the exchequer richer by around ₹77,815 crore. According to earlier estimates, the government had put on the block airwaves worth ₹3.92 lakh crore.
The Fortune India Next 500 reported its first-ever cumulative loss this year since the list was launched in 2015. This was mainly on account of overleveraged loss-makers.
More applications are likely as the RBI extends the deadline by a month to seek the licence for setting up a pan-India New Umbrella Entity (NUE), which will compete with the NPCI.
After buying out IMG’s stake in the RIL joint venture, Mukesh Ambani charts out a solo course into the management of sports, entertainment events, and talent.
The two new growth engines—telecom and retail—strive to take India’s largest corporate to a new peak while its traditional businesses continue to be a drag.
