Despite the $11.7 billion raised by Reliance Industries Ltd (RIL) through stake sales, venture investments in 2020 have declined by a fifth to $28.9 billion till September, consultancy firm EY said in a report on Thursday. Since mid-March, coronavirus infections started getting reported in the country, which has now become the second highest globally in terms of numbers. The lockdowns severely dented economic activity, leading to a 23.9 per cent contraction in the gross domestic product (GDP) for the April-June period and expectations of a 9.5 per cent contraction by the Reserve Bank of India (RBI) for 2020-21.
To invest Rs 10,653 crore in Venezuela and another Rs 2,644 crore in retail business.
Reliance Jio, together with partners, has tested its 5G solutions in India, successfully demonstrating speeds of over 1 GBPS, and its 'Made in India' solution is "globally competitive", RIL chairman Mukesh Ambani said on Thursday. Ambani also exuded confidence that the company will be the first to launch full-fledged 5G services in the country. Jio is not just working to make India '2G-mukt' (free from 2G) but also '5G-yukt' (5G empowered), he added. Jio's engineers have developed a 100 per cent home-grown and comprehensive 5G solution that is fully cloud native, software defined, and digitally managed.
Awaiting regulatory approvals for its foray into financial services sector, Mukesh Ambani-led Reliance Industries has acquired shares in giants like HDFC, ICICI Bank and Axis Bank as part of long-term 'investments'.
Ordering groceries, vegetables and daily essentials is just a WhatsApp away as billionaire Mukesh Ambani's e-commerce platform JioMart taps into the popular messaging app to scale up online business in its fight for dominance in the giant Indian retail market with Amazon and Walmart-owned Flipkart. Ambani's twin children, Akash and Isha gave a preview of the ordering at Meta's second edition of the Fuel for India event on Wednesday. A new 'tap and chat' option allows users to order groceries through WhatsApp.
With the company fighting a battle with then petroleum minister Jaipal Reddy and an aggressive Comptroller and Auditor General, seeking answers for investments made in the KG-D6 gas fields, its share price fell below Rs 700 in the middle of 2012.
Company indicates estimates of reserves needed to be cut.
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.
Consequently, RIL lost its about position of the country's largest company in terms of market valuation, which it had held for nearly a month.
The government freed diesel pricing last October, providing a level playing field to private companies like Reliance and Essar Oil.
Reliance Industries Ltd plans to sell a 3.1 per cent stake, worth $32 million at the current market price, in unit Network18 Media & Investments.
In a surprise move, Niira Radia, owner and promoter of Vaishnavi Group which has the mandate from Tata Group and Mukesh Ambani-led Reliance Industries Ltd, has announced her exit from the business of communication consultancy.
Gas production at KG-D6 field dropped by a steep 53 per cent.
Mukesh Ambani, chairman of Reliance Industries Ltd, on Tuesday said that India has traversed a long path from being a Third World County in the 1980s to becoming the world's third most important economy today.
TCS, HDFC Bank, Infosys and Kotak Mahindra Bank were the other firms in the top-10 list which witnessed a rise in their market capitalisation. On the other hand, HUL, HDFC, Bharti Airtel, ITC and ICICI Bank finished with losses.
CPI(M) Rajya Sabha Tapan Sen, in an interview to Rediff.com, explains what he believes are the irregularities committed by Reliance Industries and how UPA government has allowed it to get away with it.
According to RIL's announcement for the first quarter ended June 30, the KG-D6 field produced 33.1% less gas in the quarter.
The government on Thursday allowed free inter-state wheeling of renewable energy used in the production of green hydrogen and ammonia as it seeks to boost usage of the carbon-free fuel and make India an export hub. Unveiling the first part of the much-awaited National Hydrogen Policy, Power and New and Renewable Energy Minister Raj Kumar Singh said the government is targeting production of 5 million tonnes of green hydrogen by 2030. Oil refineries to steel plants require hydrogen to produce finished products.
However, RIL's total outgo towards remuneration to its all top management personnel, as also the sitting fees and commissions for its non-executive directors, increased during the fiscal year ended March 31, 2012.
The latest deal would give Facebook deeper access to India, the second largest internet market after China.
Move came in the wake of government's refusal to settle the dispute through arbitration over recovery of cost incurred by the company.
The beauty and wellness formats will be started in Reliance Hypermarkets in May.
State-run insurance giant LIC and the government of Singapore have hiked their stakes in Reliance Industries with the purchase of shares worth over Rs 1,550 crore during the last quarter.
'For all of us at Amazon, it is 'Bharat first'.' 'We are keeping the Indian customer at the centre of what we are doing.'
The markets are showing no signs of stability as the economic impact of the coronavirus outbreak is likely to be significant for many major economies.
Infosys had first dethroned Reliance Industries Ltd from the top position on December 12, but could retain this title only for three consecutive days.
Billionaire Mukesh Ambani-led Reliance Industries Ltd has lost its position as the Indian stock market's most influential individual company to IT major Infosys, following a recent plunge in its share price.
RIL on Friday declared a net profit of Rs 20,040 crore (Rs 200.4 billion) for the 2011-12, a marginal drop from the Rs 20,286 crore (Rs 202.86 billion) it made in 2010-11.
After agreeing to sell 30 per cent stake in the 23 blocks in India to BP, Mukesh Ambani is reportedly looking for buyers for its gas transportation and marketing company.
Infosys lost the country's most influential stock status to Mukesh Ambani-led Reliance Industries Ltd (RIL), as the shares of the IT giant fell sharply by about 13 per cent.
The auditor said that in the case of performance audit on hydrocarbon production sharing contracts, 'interactive meetings were held with two operators, including RIL, prior to the finalisation of the draft performance audit report'.
The companies are in talks with Shell, Petronet LNG to book capacity
RIL, which has 26 oil and gas blocks, including the giant KG-D6 fields, has been applying to the Home Ministry for security clearance of the specialised expatriate technical personnel deployed on its offshore vessels, including seismic survey ships, drill ships, tug boats and supply vessels.
RIL had earlier decided not to pursue the cash-and-carry model due to a number of reasons, including a growing unrest towards organised retail.
Billionaire Mukesh Ambani-led Reliance Industries Ltd's plans for investing Rs 75,000 crore in solar, batteries, fuel cells and hydrogen could create valuation of $36 billion (Rs 2.6 lakh crore) for the new energy business, Wall Street brokerage Bernstein Research said in a report. Reliance currently has three verticals -- oil-to-chemical (O2C) business that houses its oil refineries, petrochemical plants and fuel retailing business; digital services that comprises telecom arm Jio; and retail including e-commerce. New Energy will be the fourth vertical. At the company's annual general meeting of shareholders last month, Ambani announced a plan to invest Rs 75,000 crore in a new energy business over the next 3 years in the next stage in its transformation.
Billionaire Mukesh Ambani's Reliance Industries Ltd has sold its stake in the shale gas asset in the US to Northern Oil and Gas Inc for USD 250 million, the firm said on Thursday.
The RIL order is critical as the estimated penalty amount of Rs 1,500 crore (Rs 15 billion) could be the highest ever levied by Sebi.
RIL chief Mukesh Ambani said the company was fully geared to participate in India's growth and continued global recovery in the coming years.
Reliance Industries Ltd on Friday reported a 13.6 per cent fall in October-December net profit, the first drop in the Mukesh Ambani-led company's quarterly profit in more than two years, as refining margins fell sharply and reservoir complexity pulled down gas output.
Infosys on Monday regained its status as the most influential stock from Reliance Industries Ltd (RIL) on the stock market barometer Sensex, as the shares of the IT giant outperformed that of Mukesh Ambani-led corporate giant.
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