The Reliance Dhirubhai Ambani Group revealed plans of venturing into the power equipment business.
Reliance Power on Friday said it would acquire 433 Mw of power generation assets from group company Reliance Infrastructure (R-Infra) for Rs 1,095 crore, to bring the entire power generation portfolio under one roof. Global consulting company KPMG valued the assets for the intra-group transfer, the company said in a statement.
From the 30-share Sensex pack, Mahindra & Mahindra, Tech Mahindra, HDFC Bank, Titan, Tata Motors, UltraTech Cement, Power Grid and Infosys were the biggest gainers. In contrast, Reliance Industries, State Bank of India, Bajaj Finserv, Maruti, Tata Steel and Bharti Airtel were among the laggards.
ONGC's overseas arm applied for a sanctions waiver to access $500 million dividend from two Venezuelan projects.
Zomato emerged as the biggest gainer, followed by Reliance, Nestle, Asian Paints and Power Grid.
The ATAGS has a range of 35-45 kilometres, depending on the ammunition used, and achieved a 47-km firing range during trials.
Reliance Power (R-Power), which raised over Rs 12,000 crore (Rs 120 billion) in India's biggest initial public offering in January, will consider issuing bonus shares to its shareholders, excluding the promoter group.
Fitch Ratings has removed energy infrastructure company Adani Energy Solutions Ltd (AESL) from its 'Ratings Watch Negative' list, the first upgrade by an international ratings agency since the US indictment. Fitch affirmed AESL long-term foreign and local-currency issuer default ratings (IDRs) at 'BBB-'.
From the 30-share pack, Hindustan Unilever, Tata Motors, Axis Bank, Nestle India, Asian Paints, ITC, Reliance Industries, Mahindra & Mahindra, IndusInd Bank and State Bank of India were among the laggards. Larsen & Toubro, Tata Steel, JSW Steel, HDFC Bank, Adani Ports, Kotak Mahindra Bank, Bharti Airtel and PowerGrid were among the gainers.
The deal street has come out of the record lows in the pandemic-washed out June quarter with transaction value growing almost 6 per cent to $21.64 billion in the July-September quarter, thanks to a string of equity sales by Reliance in its telecom and retail arms, says a report.
Delhi Capitals have never won the IPL despite featuring top talent over the years. Under Axar Patel's leadership, they will hope IPL 2025 finally ends their title drought.
From the 30-share blue-chip pack, Tata Steel, NTPC, Kotak Mahindra Bank, IndusInd Bank, Power Grid, Zomato, Adani Ports, Asian Paints, Mahindra & Mahindra and Reliance Industries were among the biggest laggards. Titan and Sun Pharma were the only gainers.
Mukesh Ambani, who took over the reins of Reliance Industries Ltd (RIL) after the sudden demise of his legendary industrialist father Dhirubhai Ambani, completes 20 years at the helm during which the company saw a 17-fold jump in revenues, 20-times surge in profit and has become a global conglomerate.
"... All shareholders of Reliance Power except promoters who as per the company's records hold shares as at the end of business hours on June 2, 2008, irrespective of whether such shares were subscribed by the shareholders in the company's IPO or such shares were purchased/acquired from the secondary market or otherwise after th IPO, shall be eligible to receive the bonus shares," the filing said.
'I will watch India's match against New Zealand with no tension -- just enjoy the cricket.'
In a mega Rs 50,000-crore deal, the Anil Ambani group on Sunday announced merger of RNRL with another group firm Reliance Power, which would now become a direct beneficiary of the gas deal signed with Mukesh Ambani-led Reliance Industries.
Reliance Power's plans are to set up a 7,480-Mw project, which will be the largest gas-fired power project at a single location in the world.
State Bank of India, Adani Ports, Tata Consultancy Services, ICICI Bank, Reliance Industries and PowerGrid were also among the laggards.
The 300 mw Group Captive Power Project (GCPP) being set up by Vidarbha Industries Power (VIPL), a special purpose vehicle (SPV) formed by Reliance Power, at Butibori near Nagpur in Maharashtra, will soon enter the construction phase. Sources said the required land has been acquired and the Maharashtra Pollution Control Board (MPCB) has given the green signal for setting up the project. Reliance Power will soon award the EPC contract for the Rs 1500 crore project.
In a scenario where we have power purchase agreements and the SEBs are in financial strife, we would always get supported, as our cost of generation is lower than most other plants.
During the day, it tanked 634.38 points or 0.78 per cent to 80,050.07. The NSE Nifty declined 137.15 points or 0.56 per cent to 24,198.85. "The near-term market construct has turned weak, with FIIs turning sellers on rallies.
By understanding the elements that rule your birth number, you can learn how to enhance your professional journey, improve your work life and grow in your career.
Equity benchmark Sensex on Thursday plunged about 965 points to crash below the 80,000 level due to heavy selling in global equities after the US Federal Reserve signalled fewer rate cuts next year. Besides, deep losses in consumer durables, banking and IT stocks amid foreign fund outflows added to the gloom, analysts said.
In a determined bid to salvage Reliance Power's IPO, which received a severe blow on its listing day, group chairman Anil Ambani on Sunday announced three bonus shares for every five held by non-promoter shareholders to bring down the cost of acquisition from Rs 430 to Rs 269.
'Presumption of innocence must guide all formal actions, but transparency must not be mistaken for pre-judgment.' 'The cruel irony, however, is that Justice Varma is a fine judge who enjoys a reputation for writing well-reasoned judgments.'
Anil Ambani-promoted Reliance Power (R-Power) has signed a supplementary power purchase agreement (PPA) with fourteen buyers from seven states for its upcoming 4,000-MW ultra mega power project (UMPP) in Sasan.
'He was deeply committed to nurturing young talent and encouraging interdisciplinary collaboration.'
For India to transform into a high-income country with a projected gross domestic product (GDP) of $23-35 trillion, will need a sustained annual growth of 8 per cent to 10 per cent. This will be powered by India's demographic dividend, technological innovation, and sectoral transformation, according to the "India@2047: Transforming India Into A Tech-Driven Economy" report by Bain & Company and Nasscom. By 2047, the services sector is expected to contribute 60 per cent of India's GDP, while manufacturing will account for 32 per cent, both playing a pivotal role in economic expansion.
From the 30-share Sensex pack, Mahindra & Mahindra, Infosys, HCL Technologies, Adani Ports, Bajaj Finance, Tech Mahindra, Titan, Tata Consultancy Services, Reliance Industries and Power Grid were among the laggards. On the other hand, State Bank of India was the only gainer.
Further the shareholders have accorded their approval for issue of bonus shares in 3:5 ratio, wherein three new equity shares would be alloted for every five existing equity shares held, the company added. The company had recommended the issue of 13.68 crore (Rs 136.8 million) bonus shares in the ratio of three new equity shares of Rs 10 each for every five existing equity shares of Rs 10 held by the shareholders of the company in the public category.
A broad consensus has been achieved by India and China on restoring the 'ground situation' along the Line of Actual Control (LAC) pursuant to talks, including for patrolling and grazing cattle in the traditional areas, Defence Minister Rajnath Singh said on Thursday.
The Competition Commission of India (CCI) on Tuesday said it has approved Reliance Retail Venture's acquisition of German firm Metro AG's wholesale operations in India. Reliance Retail Ventures Ltd (RRVL) is a subsidiary of Reliance Industries Ltd (RIL) while Metro Cash & Carry India is engaged in the wholesale operations in India. In December last year, it was announced that RRVL had signed definitive agreements to acquire a 100 per cent equity stake in the company for a total cash consideration of Rs 2,850 crore.
From the 30-share Sensex pack, Mahindra & Mahindra, Larsen & Toubro, State Bank of India, Reliance Industries, ICICI Bank and Bajaj Finance were the biggest gainers. JSW Steel and Infosys were the laggards.
Trump's tariff threats spooks markets; Sensex down 106 points
American chip behemoth Nvidia Corp and India's retail-to-refining giant Reliance Industries on Thursday unveiled their goal to build a formidable AI computing infrastructure in the country. Highlighting the tie-up, Jensen Huang, founder and CEO of Nvidia, made a broader appeal: India should focus on "manufacturing" AI, rather than racing to build semiconductor fabs. As part of this collaboration, Nvidia will reportedly supply its Blackwell AI processors to power Reliance's one-gigawatt data center in Jamnagar, Gujarat.
Stepping up the company's AI and cloud play, Reliance Industries chairman Mukesh Ambani on Thursday announced that Jio users will get up to 100 GB of free cloud storage to securely store and access their photos, videos, documents, digital content and data. Addressing the 47th AGM of RIL, Ambani said the Jio AI-Cloud Welcome offer will be launched during the upcoming Diwali, which would bring a "powerful and affordable solution where cloud data storage and data-powered AI services are available to everyone, everywhere". "Jio users will get up to 100 GB of free cloud storage to securely store and access all their photos, videos, documents, all other digital content, and data.
The company had raised a similar amount of debt in FY 09 as well. Reliance Power has bagged three of four contracts for developing UMPPs in the country.
Reliance Group chairman Anil Ambani on Friday resigned as director of Reliance Power and Reliance Infrastructure, following markets regulator Sebi order restraining him from associating with any listed company. "Anil D Ambani, non-executive director, steps down from the board of Reliance Power in compliance of SEBI (Securities and Exchange Board of India) interim order," Reliance Power said in a BSE filing. In a separate filing to the stock exchange, Reliance Infrastructure said that Anil Ambani has stepped down from its board "in compliance of SEBI interim order".
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