Reliance Retail To Open Up Mega Retail Outlet

Reliance FreshAccording 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.

The company plans to spend Rs 250 billion for opening stores in different formats, which include Reliance Fresh, RelianceMart and other specialty stores.

Reliance Retail will open supermarkets in cities like Jamnagar, Chandigarh, Lucknow, Bangalore, Hyderabad, Delhi, Chennai and Mumbai.

Shares of Reliance Industries ended at Rs 1, 831.80 after making a gain of 2.90, or 0.16% on BSE. The total volume of shares traded at the BSE stood at 447,456.