RIL may launch fast food chain in India
Business tycoon Mukesh Ambani's Reliance Industries Ltd. (RIL) may launch a fast food chain in India within the next six months, a senior company official familiar with the matter informed.
On the condition of anonymity, the RIL official said that the company had already hired fast food business Rishi Negi to drive the potential business.
The official also claimed that Negi had started drawing detailed plan for the new business.
Speaking on the topic, the official said, "Negi is currently engaged in drawing the detailed business plan. It is still at the drawing board stage and it is premature to comment. But this is part of our overall strategy for the retail business."
The official couldn't estimate how much money the RIL would invest in the new venture. But, the official revealed that it would not be a highly capital intensive business, adding that money would be no problem.
A RIL spokesperson declined to comment on the company's any such plan.
Shares in the RIL shed 3.65 per cent to close at Rs 727.90 on the Bombay Stock Exchange on Monday.
