The burden of being Noel Tata
For the last two decades, he has steered Trent with limited resources. But that may not be enough given his competitors’ deep pockets.
08 September 2020
You can always update your display preferences in Settings menu

Trent Ltd is India’s fourth largest organized retailer. While that doesn’t sound too bad, given that the organized retail sector is estimated at $91 billion, the reality is that the top two competitors are leagues ahead, and it has little chance of playing catch-up.

Not only are Reliance Retail Ltd and DMart owned by Mukesh Ambani and Radhakishan Damani, respectively, two of the country’s richest men, their businesses have been going from strength to strength.  

Privately held Reliance Retail Ventures Ltd, the holding company of Reliance Retail, on 31 August, issued 170,758,520 shares at Rs 672.25 to parent Reliance Industries Ltd and raised Rs 11,650 crore. This, days after Reliance Industries announced its acquisition of most of the retail and logistics assets of Kishore Biyani-led Future Group for Rs 24,713 crore.

While it is not clear whether Reliance Retail will deploy the entire proceeds of this infusion to fund its latest acquisition or if

Signup to read this story
Get 10 starter credits on Signup which you can use to unlock this story. You will also get access to our TMC starter pack and access to free reads.
Become a TMC subscriber
Context is everything. Only read stories that matter.
What our readers say
Why subscribers love The Morning Context
Research ideas don't come from a vacuum. The best ideas come from a spark, a contrarian take, an uncommon investigative insight, and one doesn't always get these from traditional media. TMC consistently makes me think about things in different ways, and I've frequently shared TMC articles with collaborators and students. Staying at the cutting edge is hard enough; TMC makes it much easier.
Rohit Chandra, Assistant Professor - School of Public Policy (IIT Delhi)
High quality, independent journalism is rare to find. The Morning Context set really high standards that make me wait for each story.
Abhay Pandey, Managing partner, A91 Capital
Well-written and researched long form reads on a wide variety of topics and a team of veteran journalists - all of this makes my subscription worth it.
Anupam Gupta, Investment research consultant
In today's very noisy and cluttered world, I like that the Morning Context goes below the surface of company PR to deliver fact-based stories on Indian business.
Jessie Paul, CEO, Paul Writer
The Morning Context is my daily opportunity to get smarter about one new company/sector. Discerning analysis, unbiased and approachable.
Miten Sampat, Angel investor & former CSO, Times Internet
In today's polarized world, authentic and unbiased facts are in short supply world over. The Morning Context is a refreshing approach towards truthful, well researched, fearless, and high-quality articles on contemporary topics.
N S Parthasarthy, Co-founder, Mindtree
In a world full of noise, The Morning Context is the calm that stimulates and energises your mind, with stories focused on fact, truth and dogged reportage.
Nikhil Taneja, Co-founder and CEO, Yuvaa
Although it’s a paid subscription, the kind of detailed research and quality of reportage makes it worth every rupee. It’s strength surely lies in having some of the finest journalists writing for it.
Shiladitya Bora, Producer, distributor and founder at Platoon One Films
As one of the early subscribers, I've had the opportunity to witness how quickly the team has grown, the variety of angles covered, and the research in every in-depth story and op-ed.
Amarjit Batra, Managing director, Spotify India
Become a TMC member
Sign up now and get access to our starter collection for free.