Reliance Industries, headed by India's richest man Mukesh Ambani, has bought an ultra-luxury Rolls Royce hatchback costing Rs 13.14 crore.
Oil-to-telecom conglomerate Reliance Industries (RIL) has emerged as the country's largest wealth creator, adding a staggering Rs 9.6 trillion over the past five years, according to Motilal Oswal's 26th Annual Wealth Creation Study. In doing so, the Mukesh Ambani-led company has beaten its own record of Rs 5.6 trillion generated in 2014-19. The study covered financial year 2015-16 (FY16) to FY21 and ranks the top 100 companies in descending order of absolute wealth created, subject to the company's stock price outperforming the BSE Sensex. The firms were also ranked according to speed (price CAGR during the period).
Reliance Industries (RIL's) annual report released on Sunday highlighted the company's focus on new energy solutions, with chairman and managing director (MD) Mukesh Ambani stating that the age of fossil fuels will not continue much longer. RIL has sought shareholders' approval to give Ambani another five-year term as MD till 2029 at nil salary. The recently demerged Jio Financial Services, which "will leverage the prowess of digital and retail businesses", was expected to be listed soon.
The queries, sent in November, were mainly about Capital Investment Trust, which the I-T department said, was used for the purpose of transferring foreign funds comprising global depository receipts (GDRs) of the value of $400 million to two Indian entities - Reliance Utilities & Power (RUPL) and Reliance Port & Terminal (RPTL), owned by the Ambani family. A show-cause notice issued on March 29 to Ambani's wife Nita, and their three children.
The NIA took over the case following orders from the Ministry of Home Affairs.
Mukesh Ambani is planning to provide Rs 1000 crore seed capital to kick-start a new venture that would invest in innovative business ideas, including in technology and healthcare segments. Ambani, who heads the country's most valued corporate entity Reliance Industries, will probably make this investment of about USD 250 million in his individual capacity, sources close to the development said.
A bailable arrest warrant has been issued against Mukesh Ambani, chairman and managing director, Reliance Industries Ltd, by a consumer forum in Thissur for failure to pay Rs 24,000 fine to a person who had purchased a mobile from a Reliance outlet in 2003.
Billionaire Mukesh Ambani's Reliance Retail is poised to perform a rare feat by finally turning profitable.
Leading industrialist, Mukesh Ambani,on Friday said the trend of rising energy prices is a matter of great concern and that it could rise further to three-digits going forward.
Reliance Industries CMD Mukesh Ambani made a strong argument in favour of removal of export controls by the US to give a further boost to the partnership between India and the US.
Readers Narasingam, Srinivas B and Srinivas P spotted Mukesh Ambani, chairman nad managing director of Reliance Industries, in Prague, capital of the Czech Republic.
Reliance Industries chairman Mukesh Ambani on Wednesday announced a fresh investment commitment of Rs 50,000 crore in West Bengal by the end of this decade. Speaking at the Bengal Global Business Summit (BGBS) 2025, Ambani said the investment would generate one lakh jobs in the state.
Energy tycoon and Reliance Industries Chairman Mukesh Ambani is the country's richest man with a personal fortune of $19.3 billion, says a report.
Billionaire Mukesh Ambani on Monday became the richest person in the world, surpassing American software czar Bill Gates, Mexican business tycoon Carlos Slim Helu and famous investment guru Warren Buffett, courtesy the bull run in the stock market.
Mukesh Ambani joined Reliance in 1981 and initiated Reliance's journey from textiles into polyester fibres and further into petrochemicals, petroleum refining and going up-stream into oil and gas exploration and production.
Though, RIL did not mention reasons for acquiring Network18, industry watchers have been active in analysing reasons for the takeover.
Reliance Industries Ltd, whose offering of rock-bottom tariffs shook up the telecom industry, is looking to repeat the feat in the green energy business, where its billionaire chairman Mukesh Ambani sees promise to outshine all existing growth engines in 5-7 years. Having pledged Rs 6 lakh crore on green energy, Ambani says RIL will scale up investments in this business which will start going live in the next 12 months. "Over the next 12 months our investments across the Green Energy value chain will gradually start going live, scaling up over the next couple of years," Ambani, chairman and managing director of RIL, said in the company's latest annual report.
The home ministry has tasked country's lead anti-Naxal operations force Central Reserve Police Force to take the responsibility with immediate effect after the proposal to this effect was cleared by the office of Home Minister Sushilkumar Shinde.
High or low, back and forth, Mukesh Ambani seems to gain from any which way the market moves as his wealth grew by over Rs 2,600 crore (Rs 26 billion) after the initial setback saw the Sensex tanking over 1,700 points and the top five richest Indians losing about Rs 1 trillion.
Reliance Industries Ltd has withdrawn its trademark application for the term 'Operation Sindoor' -- the codename for India's military strikes in Pakistan -- stating that it was inadvertently filed by a junior employee without authorisation.
Billionaire Mukesh Ambani on Wednesday pitched for using the USO Fund to subsidise smartphones for select groups to help penetrate the digital revolution and said India should make the rollout of 5G or the fifth-generation technology standard for broadband cellular networks a national priority. As much as 5 per cent of the licence fee paid by telecom operators goes to the Universal Service Obligation (USO) Fund, which was set up in April 2002 for achieving universal service objectives by providing access to telephone services in rural and remote areas and creation of infrastructure for mobile services and broadband in these areas. However, according to the CAG, less than half of the funds so collected are transferred for the said purpose.
Mukesh Ambani getting his palm read by Rakesh Sharma at USIBC Gala Dinner
Billionaire industrialist Mukesh Ambani described his 2016 return to the telecom industry with Reliance Jio as the "biggest risk" of his life, saying that even if analysts' predictions of financial failure had come true, it would still have been worth it for the role it played in transforming India digitally.
With the regulatory approval from the US Department of Energy in its kitty, Indian multinational conglomerate L&T is planning to focus on manufacturing small modular reactors (SMRs) to play a leading role in the commercialisation of nuclear energy in India.
Reliance Group Chairman Mukesh Ambani has admitted to differences with his brother Anil over 'ownership issues,' but said "they are in the private domain."
Politicians across the political spectrum graced Radhika Merchant and Anant Ambani's wedding ceremonies at the Jio World Convention Centre at the Bandra Kurla Complex in north west Mumbai.
Mukesh Ambani, accompanied by younger son Anant and younger daughter-in-law Radhika Merchant Ambani, were among the many celebrities who attended Devendra Fadnavis' swearing in at Azad Maidan on Thursday afternoon.
In the previous fiscal year, he drew a Rs 15 crore salary from the company -- the same as in the previous 11 years.
Reliance Jio said certain tariff plans will continue to give subscribers free streaming access to IPL 2025.
It does three things kick-starts big-ticket consolidation, gets another serious industrial house into media and raises a clarion call for an independent (of the government) media regulator.
A viral video of Anant Ambani saving chickens from getting slaughtered is doing the rounds on the Internet.
Billionaires Mukesh Ambani and Gautam Adani have pledged their support to the Indian armed forces, who are currently repelling intense shelling, gunfire, and drone attacks from Pakistan. "We are very proud of our Indian Armed Forces for Operation Sindoor. India stands united, fierce in resolve and unshakable in purpose, against the scourge of all forms of terrorism," Ambani, chairman and managing director of Reliance Industries Ltd, said in a statement.
Dhirubhai may or may not have owned the government; it would seem his son wants to own the market, notes T N Ninan.
Britain's Prince Edward and former prime minister Rishi Sunak were also at the game.
Mukesh Ambani's AGM speeches indicate a trail of forgotten promises and projects that have not ended up as envisaged.
In a curious move, Reliance Industries' (RIL) executive director and Mukesh Ambani's trusted aide PMS Prasad pledged 600,000 shares of the company last month, which is 93.75 per cent of the total shares he owns in RIL. Prasad owned a total of 640,000 RIL shares and his compensation stood at Rs 11.15 crore in FY20.
Amid the ongoing controversy over limited mobility service by basic telecom operators, Reliance Industries asserted on Monday that it was keeping its telecom services in conformity with the licence conditions and said it wanted fair returns and was n
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