|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||2,432.00 - 2,539.90|
|52-week range||1,960.00 - 2,856.15|
|Beta (5Y monthly)||0.96|
|PE ratio (TTM)||28.96|
|Forward dividend & yield||7.00 (0.27%)|
|Ex-dividend date||11 Jun 2021|
|1y target est||2,272.10|
MUMBAI (Reuters) -India's biggest retailer Reliance will acquire dozens of small grocery and non-food brands as it targets building its own $6.5 billion consumer goods business to challenge foreign giants like Unilever, two sources familiar with the plan told Reuters. Reliance, run by Indian billionaire Mukesh Ambani, plans to build a portfolio of 50 to 60 grocery, household and personal care brands within six months and is hiring an army of distributors to take them to mom-and-pop stores and bigger retail outlets across the nation, the sources added. The consumer goods push under a vertical named Reliance Retail Consumer Brands will come on top of Ambani's brick-and-mortar store network of more than 2,000 grocery outlets and ongoing expansion of "JioMart" e-commerce operations in India's nearly $900 billion retail market, one of world's biggest.
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Indian tycoon Mukesh Ambani’s Reliance Industries spent almost $1bn in the first quarter of this year on investments in renewable energy, fashion and ecommerce companies as the conglomerate works to diversify away from fossil fuels. Reliance’s dealmaking in the first quarter of the year hit a three-year high at 10 deals, according to data from Refinitiv. Two of those deals, worth about $330mn combined, were to strengthen Reliance Retail’s ecommerce platform, with investments in delivery start-up Dunzo and robotics company Addverb, which is expected to help Reliance automate its warehouses.