|Bid||1,934.00 x 0|
|Ask||1,940.00 x 0|
|Day's Range||1,921.55 - 1,955.85|
|52 Week Range||875.70 - 2,368.80|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||28.66|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Jeff Bezos and Mukesh Ambani, two of the world's richest men, face a turning point in a battle for preeminence in India's booming, nearly trillion-dollar retail market. The outcome of a legal dispute which has embroiled the billionaires' Amazon.com and Reliance Industries Ltd empires - where a court ruling is imminent - may shape India's retail landscape for years to come. The winner in the fight for Future Retail Ltd, Amazon's estranged local partner, will get pole position in the race to meet the daily needs of more than a billion people.
India's National Stock Exchange (NSE) privately warned Future Retail it risked regulatory action for not making timely market disclosures about efforts by Amazon.com to block a disputed asset sale, according to e-mails reviewed by Reuters. Future Retail - one of country's top retailers - has been locked in a bitter dispute with Amazon over its $3.4 billion retail assets deal with Reliance Industries. Amazon is a business partner of Future and argues the Indian firm's asset sale breached some of their pre-existing agreements.
India's Reliance Industries Ltd on Thursday said its retail arm had completed its fundraising exercise as more than half a dozen investors poured 472.65 billion rupees ($6.37 billion) into a 10.09% stake in the company in two months. Reliance Retail Ventures Ltd (RRVL) began raising capital in September, with U.S.-based private equity firm Silver Lake Partners pumping 75 billion rupees for 1.6% of the venture. The eight other investors in RRVL include Saudi Arabia's Public Investment Fund, private equity firm KKR & Co Inc, Abu Dhabi state fund Mubadala Investment Co and Abu Dhabi Investment Authority.