According to the reports Reliance Retail is ready to open up 500 hypermarkets crosswise the country by next three years (2010).

The company showed a glance of its jumbo plans by opening up a huge 165,000 sq.ft hypermarket RelianceMart in Ahmedabad, which is largest complete format store in the country.

Mumbai: Reliance Industries Ltd will close down its polyester intermediate mono-ethylene glycol (MEG) manufacturing plant in Kurkumbh, which is 70 km from Pune, and transfer the complete unit to a new place.

According to a company representative, “We will relocate the small standalone unit to a place with better linkage to raw material.”

Today, the BSE Sensex saw a 500 point fall and cracked in proportion to other international markets.

While pointing out on the U-turn taken by the stock market, technical analyst, Vishwas Agarwal stated that Indian stock market was faultily affected today because of reduction in worldwide markets and panic selling.

Saturday’s RIL result is crucial to hoard the persuasions now. Any optimistic news from RIL can ease the market to some extent.

But one thing is obvious that stock market mood has turned very cautious now and people are feeling insecure. So they will make an effort to go out with minimal losses in their place before buying more at existing levels.

According to technical Analyst, Sudarshan Sukhani the investors should stay away from

The BSE Sensex was in a pessimistic mode today and finished the day with a nearly 100 points deficit.

Remarking on the weak spot in the market technical analyst Vishwas Agarwal believed that the weakness was mainly because of factors upsetting the international markets, which were also down today.

He added that a few spheres that had caught rather a sharp increase in the past few days including cement and banking were calming down slightly. Simultaneously some increase is envisioned in fence sitters like ITC, Reliance Capital and Infosys.

Reliance Energy recorded a 25.45% enhancement in net profit to Rs 2,215.60 million for the quarter ended June 2007 from Rs 1,766.10 million in the corresponding period ended June 2006.