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Reliance Retail Fails to Take off.

October 24, 2006


Reliance Industries Limited promoted Reliance Retail Limited failed to take off on October-18th. The much publicized launch date slipped due to talent crunch and non-availability of real estate. Who wants to work for the Ambanis 😉

Looks like the year ahead is not at all looking good for Reliance Industries Limited. Reliance stock slipped on Samavat/Muharat Trading day, considered an auspicious day for the Indian corporates especially Gujaratis. Adding to their woes is the Meswani brothers incharge of Reliance Retail Limited reporting back to the big boss that they have failed to meet the deadline. IMHO, Reliance Retail is a cloud of superhype which will very soon meltdown. Do we see a Bad Year ahead for Reliance Industries Limited with its other venture Reliance SEZ embroiled in Land Bank Scams ?

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