Jio Financial Services Limited, the demerged financial services unit of Reliance Industries, will be excluded from various indices of NSE, including the benchmark Nifty 50, from September 7. Shares of Jio Financial got listed on the stock exchanges on August 21, after its spin-off from parent Reliance Industries. In accordance with the index methodology, as JIOFIN has not hit price band on two consecutive trading days on September 4 and 5 at NSE, the Index Maintenance Sub Committee (Equity) of NSE Indices Ltd has decided to exclude JIOFIN from various indices effective from September 7, 2023 (close of September 6, 2023), as per a statement by NSE Indices Ltd on Tuesday.
Platform-style partnerships between global investors and Indian developers are expected to gain further traction over the next few years. This comes as institutional capital increasingly shifts from one-off asset acquisitions to scalable, long-term strategies.
Anant Ambani, the youngest son of billionaire Mukesh Ambani and the first among three siblings to be appointed executive director on flagship Reliance Industries, will be paid Rs 10-20 crore salary annually plus a host of perks including a commission on company profits, according to a shareholder notice. While the richest Asian's all three children - twins Akash and Isha, and Anant - were inducted on board of the oil-to-telecom-and-retail conglomerate in 2023 as non-executive directors, the youngest of the three was in April this year appointed executive director of Reliance Industries Ltd.
Reliance Industries in collaboration with The Oberoi Hotels and Resorts will co-manage three iconic hospitality projects which include Anant Vilas in Mumbai and Stoke Park in the UK, the company said on Thursday. The arrangement between the two companies also includes management of another planned project in Gujarat. "Reliance Industries...has entered into an understanding with The Oberoi Hotels and Resorts (Oberoi) to jointly manage three properties across India and the UK.
Billionaire Mukesh Ambani's Reliance Industries has invested euro 25 million in German solar wafer maker NexWafe GmbH to use the firm's technology to set up giga-scale wafer manufacturing facilities in India. "NexWafe GmbH (NexWafe) today announced the induction of Reliance New Energy Solar Limited (RNESL), a wholly-owned subsidiary of Reliance Industries Limited (Reliance) as a strategic lead investor in its euro 39 million ($45 million) Series C financing round with an investment of euro 25 million ($29 million) in phase one," the Indian firm said in a late Tuesday evening statement. The investment by Reliance will accelerate product and technology development for NexWafe, including the completion of the commercial development of NexWafe's solar photovoltaic products on prototype lines in Freiburg.
From the Sensex firms, Infosys climbed 3.86 per cent. HCL Tech, Tata Consultancy Services, Axis Bank, Kotak Mahindra Bank, Titan and Tech Mahindra were also among the gainers. However, Eternal, UltraTech Cement, Bharti Airtel and Adani Ports were among the laggards.
Among Sensex firms, Bajaj Finserv, Bajaj Finance, Tata Steel, Reliance Industries, Sun Pharma, Tata Motors Passenger Vehicles, Axis Bank and Infosys were among the major gainers. Bharti Airtel and Asian Paints emerged as the laggards from the pack.
The development in West Bengal follows a series of protests by traders and political parties in Orissa and Uttar Pradesh which has forced the company to put its plans in Uttar Pradesh on hold. It is also rethinking its strategy in Orissa.
The business value of the league, popularly called the IPL, surged to a record $18.5 billion last year, U.S.-based investment bank Houlihan Lokey says.
Reliance 4IR Realty Development, a unit of Mukesh Ambani's Reliance Industries, paid a Rs 86.5 crore 'development fee' to license the Trump brand for a forthcoming real estate project in Mumbai.
Reliance Industries Ltd, India's most valuable company, on Friday reported a 5 per cent drop in its June quarter net profit as lower fuel cracks and petrochemical margins outdid gains in telecom and retail businesses. The oil-to-retail-to-telecom conglomerate's consolidated net profit was at Rs 15,138 crore, or Rs 22.37 per share, in April-June -- the first quarter of the current 2023-24 fiscal year -- compared to Rs 16,011 crore, or Rs 23.66 a share, earnings a year back, according to a company's statement.
Among Sensex firms, Mahindra & Mahindra climbed 2.34 per cent, followed by Maruti which climbed 1.70 per cent. Power Grid, Reliance Industries, Bharti Airtel and Eternal also were also among the gainers. However, ITC, HCL Tech, Tata Consultancy Services, Tech Mahindra and Infosys were among the laggards.
Reliance Industries Ltd, India's most valuable company, is back on a growth path after six months of challenges as it posted better than expected earnings in the December quarter, brokerages said.
The Communist Party of India Marxists said that Reliance gas pricing was 'artificially inflated.'
SC-appointed Justice Rao recommends striking balance between AIFF autonomy and bidders' interests
Reliance Industries Limited formally entered the country's fairly young organised retail market through its Reliance Fresh format stores in Hyderabad on Friday while reassuring petty traders that the company was no threat to them.
In a move that signifies a major leap for India's aerospace manufacturing capabilities, the collaboration will establish a final assembly line for the Falcon 2000 jets in Nagpur, Maharashtra.
The government plans to establish a fully indigenous manufacturing ecosystem with an annual production capacity of up to 6,000 tonnes. The scheme is expected to run for seven years, according to official documents.
Reliance holds 67.03% of Jio Platforms Limited and the public listing would provide an exit to many investors.
Jio Platforms Limited is likely to have a valuation of $148 billion by the time it goes public on the back of strong free cash flow and potential deleveraging, ICICI Securities said.
Among Sensex firms, Mahindra & Mahindra, Asian Paints, Infosys, Titan, Sun Pharma, Tata Consultancy Services, Tech Mahindra and Power Grid were the major laggards. However, Bajaj Finance, Eternal, UltraTech Cement and Reliance Industries were among the gainers.
The Budget emerges as a measured, credible and forward-looking policy document that reinforces India's commitment to remaining a stable, reform-oriented economy amid an increasingly fragmented global landscape, says A Balasubramanian.
The complainant stated that Reliance group has consented to allot a petrol bunk to him at Peddapalli and for this purpose he even accepted to give his land for market price.
Reliance Petro, the petroleum business unit of Reliance Industries Limited, has embarked upon retail expansion binge in a big way to become the biggest player in the private sector.
Qatar Investment Authority (QIA) will acquire around 1 per cent stake in Reliance Retail Ventures Ltd (RRVL), the retail arm of billionaire Mukesh Ambani-led Reliance Industries, by investing Rs 8,278 crore ($1 billion). A QIA's wholly-owned subsidiary will make the investment in India's largest retailer at a valuation of Rs 8.278 lakh crore ($100 billion). Updating about the development, Reliance Industries in a regulatory filing said: "QIA's investment will translate into a minority equity stake of 0.99 per cent in RRVL on a fully-diluted basis." RRVL is the holding company for all retail businesses of Reliance Industries Ltd (RIL).
The Bomby high court on Friday approved the Reliance Industries Limited's demerger scheme, which sought to make changes in the company's shareholding pattern as part of a settlement between Ambani siblings, Mukesh and Anil.
If the Somnath temple, which was attacked 1,000 years ago and faced continuous attacks thereon, could rise again and again, then we can surely restore our great nation to the glory it embodied 1,000 years ago before the invasions, asserts Narendra Modi.
India is set to reduce its direct imports of Russian crude from late November, following new US sanctions on Rosneft and Lukoil, effective November 21.
Reliance Retail Ventures Limited (RRVL) on Thursday said it has entered into a Master Franchise agreement with 7-Eleven to run convenience stores in India. The first 7-Eleven store is set to open on Saturday, in Andheri East, Mumbai, RRVL, the retail arm of Reliance Industries Ltd, said. "RRVL, through its wholly-owned subsidiary, 7-India Convenience Retail Limited, has entered into a master franchise agreement with 7-Eleven, Inc (SEI) for the launch of 7-Eleven convenience stores in India," said a joint statement.
Why Nita and Mukesh Ambani hosted Radhika Merchant's arangetram.
Mandarin Oriental New York, the premium luxury hotel a subsidiary of Reliance Industries is acquiring, is known for its much-in-demand ballroom, five-star spa and eating and drinking venues, including MO Lounge. Liam Neeson and Lucy Liu are among regular guests. Set up in 2003, 248-rooms-and-suites hotel towering over Central Park is an iconic luxury hotel located at 80 Columbus Circle, directly adjacent to the pristine Central Park and Columbus Circle.
This marks the second billion-dollar investment by Silver Lake in a Reliance subsidiary after the $1.35 billion investment in Jio Platforms.
Tarique Rahman, after 17 years in self-exile, has led the Bangladesh Nationalist Party (BNP) to a significant victory, becoming the country's Prime Minister. This marks a major turnaround for the BNP after years of being targeted by the Awami League government.
Walt Disney Co and Reliance Industries on Wednesday announced signing of binding pacts to merge their media operations in India to create a Rs 70,000 crore behemoth. Reliance and its affiliates will hold 63.16 per cent in the combined entity while Disney will hold the remaining 36.84 per cent, the companies said in a statement.
Reliance Industries Limited has chalked out a novel scheme to compensate and rehabilitate the displaced people from Special Economic Zone areas the company is developing.
Mumbai Indians won a fiercely contested e-auction, fending off competition from a Silicon Valley tech consortium, comprising the chief executives of Google, Microsoft, and Adobe as well Gujarat Titans owners CVC.
Reliance Industries Limited, which owns IPL side Mumbai Indians, is set to acquire a new franchise in the Emirates Cricket Board's upcoming UAE T20 League.
'You must be good at using AI as a tool of learning but do not give up your own critical thinking.'
At the same time, seven companies from the coveted list witnessed a decline in their market valuation last week, but their cumulative loss of Rs 37,701.1 crore was less than the total gain made by three firms.
