While remaining tied to their family's core business, they are venturing into new areas and even roping in private investors to grow.
Leading corporate house Reliance Industries has kept its lobbying activities among US lawmakers on hold for the fourth quarter in a row, after having paid nearly $2 million to its lobbyist in Washington in past few years.
Corporate giant Reliance Industries Ltd has stopped lobbying with US lawmakers for the last two quarters, while the Indian government incurred an expense of Rs 3.7 crore (Rs 37 million) for such activities during the last financial year ended March 31, 2012.
Billionaire Mukesh Ambani-led Reliance Industries has surprisingly cut down its expenses for lobbying among US lawmakers to a record low level.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The payment of $1,90,000 to a high-profile lobbyist firm in Washington, BGR Holding, was made by RIL in the first quarter of 2009, and is the first instance of any lobbying by the Indian company with the US lawmakers.
The big flops of the year -- Reliance Power and Future Capital Holdings -- are currently available at 25 per cent below their issue price. The other major post-listing losers include BGR Energy, Shriram EPC, J Kumar Infraprojects and KNR Constructions. Among the smaller issues, Precision Pipes and Profiles, Manaksia, and Porwal Auto Components are currently available at 50 per cent below their issue prices.
President Donald Trump talked to the Saudi King, during which the latter flatly denied having any knowledge of the missing journalist.
Sebi also ordered freezing the voting rights and corporate benefits of promoters of these companies.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' stock market queries. Ajit will offer his unbiased views on a weekly basis
Financials ended mixed despite the status-quo on key rates by the RBI. SBI, ICICI Bank and Axis Bank ended up 0.4-2.5% each.
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Shedding its gains from Monday, NIkkei has declined around 0.7% while Hang Seng and Shanghai Composite were trading marginally lower.
Budget in the medium term aims to kick-start the investment cycle.
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