The 'sudden volatility' in Adani stocks is entirely due to a series of events that was extreme and unique, and played out in too short a period. Investors and regulators pretended that it wasn't so. But then, along came Hindenburg, which forced some eyes to open, points out Debashis Basu.
"India and Indonesia can do much more in the changing world," Sharma said at a reception hosted by the India-Indonesian Chamber of Commerce last night.
Reliance Natural Resources Ltd (RNRL) on Monday continued to slide, falling 9.47 per cent to touch a one year-low of Rs 47.75 on the Bombay Stock Exchange, after the Supreme Court ruled against the company in a gas dispute with Reliance Industries.
Anil Ambani-controlled Reliance Energy Ventures Ltd will get listed and start trading on the bourses on February 24.
Perceived closeness to politicians could become a liability for some business groups once a new government assumes office at the Centre later this month.
BSES Ltd became a part of the Reliance Group with Anil Ambani being appointed chairman of the Mumbai-based power utility.\n\n\n\n
This is significantly higher than the government revenues of Rs 500 crore (Rs 5 billion) that ADAG has been claiming in an advertising campaign that it launched on August 17. The exercise marks the first time the directorate general of hydrocarbon, the upstream oil regulator, has worked out such an estimate. The exercise is not carried out in the normal course for oil or gas fields.
Within days of being named richest resident Indian by the US magazine Forbes, Reliance Industries Chairman Mukesh Ambani on Friday termed the hype over list of billionaires from the country as 'maya' (illusion). "There was much hype over the list of billionaires that India has thrown up. . . (but) this is a deceptive distraction," the head of the country's most valued corporate group said, while referring to the Forbes' worldwide billionaire list that included 53 Indians.
Mukesh Ambani-led RIL said on Friday it would not be possible to supply gas to Anil Ambani group firm RNRL without the government's nod and requested the Supreme Court not to restrain it from selling gas to others.
Blaming RIL for delay in starting its Dadri power project, RNRL said it was RIL's wrongful conduct that delayed its gas-based power plant by four years. However, it had sought a direction to RIL to supply the gas immediatley to it. On July 7, the Supreme Court issued notice to RIL, RNRL and the Centre (as intervener) on cross-appeals by both the companies on their gas supply dispute.
But RIL is yet to agree on the grounds that it is studying the implication of the judgement. On June 15, the Bombay high court gave the two companies a month's time to work out a firm gas volumes, price, timelines and other commercial details for sourcing the fuel from Krishna Godavari basin fields.
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.
Anil Ambani group's Reliance Entertainment and DreamWorks SKG of acclaimed director Steven Spielberg have completed the much-talked about deal for jointly making Hollywood films.
Ambani siblings' war intensified on Saturday with the younger Anil's group warning to retaliate in case Mukesh-led Reliance Industries goes legal with its claim on the potential multi-billion dollar amalgamation deal that the former is pursuing with South African telecom giant MTN.
Ambani's holding group launched the Indian Super League, an elite competition of newly created teams, in 2014 with the aim of attracting investment and big global names, much like the Indian Premier League has in cricket. 'It was 100% a wasted opportunity'.
Anil Ambani group firm Reliance Communications on Monday said news reports that it was acquiring the English Premier League club Newcastle United for an estimated 260 million pounds were false and baseless.
Anil Ambani group firm Reliance Communications denied news reports that it was acquiring the EPL club Newcastle United for an estimated 260 million pounds.
Anil Ambani-led Reliance Group on Thursday signed an agreement with China's retail player Wanda Group to set up a joint venture for building integrated township projects in India.
The extraordinary general meeting of Reliance Industries Ltd on Friday virtually cleared the demerger of group companies, with company chairman Mukesh Ambani submitting over 65 per cent 'proxy' votes in favour of the scheme.
The Reliance Anil Dhirubhai Ambani Group on Wednesday threatened to sue three top officials of Mukesh Ambani's Reliance Industries for breach of trust and their inability to protect the interest of shareholders of an ADAG company.
Anil Ambani Group firm Reliance Infrastructure has agreed to pay the levy, although under protest, and has asked the Mukesh Ambani firm to resume natural gas supplies to its power plant.
The calculation excludes cross-holding of listed group cos in each other.
Having cleared over 200 special economic zone proposals, the Board of Approval will take up 46 fresh cases on Friday.
RTTL had moved the apex court in March last year, challenging the Bombay High Court judgement that asked it to sort out differences over the title of the property with Mukesh Ambani-run Reliance Industries. A bench headed by Justice A K Mathur dismissed RTTL's plea seeking to restrain AAI from entering into a lease agreement with Reliance Industries in respect of land measuring 2,701 sq mt at Chattrapati Shivaji International Airport in Mumbai.
Tribunal has stopped any construction work at the site and stayed the government's order to convert 500 acres for industrial purpose till further orders.
The promoter group companies controlled by Anil Ambani are expected to buy R-Infra shares from the open market. "The promoters want to control the majority stake in the company to ward off any hostile attack, when corporate rivalry heightens in the country. As the share price of R-Infra is cheaper around Rs 400, the promoters feel that the purchase of shares from the open market would be profitable, boosting the confidence of the shareholders in turn," said sources.
Rajya Sabha MP Kapil Sibal on Friday described the electoral bonds scheme as a 'very big scam' and demanded that a special investigation team (SIT) be set up with court-appointed officials to probe the alleged quid pro quo and wrongdoings under it.
DMRC, Reliance Infra go for arbitration.
Anil Ambani said on Wednesday his Reliance Group will invest Rs 50,000 crore (Rs 500 billion) in Gujarat in the next 5-7 years on various projects as the firm looks to tap opportunities in the state.
Anil Ambani group company FLAG Telecom on Wednesday announced the appointment of Punit Garg, who was heading Reliance Infocomm's international business, as its president.\n\n
Reliance Industries on Friday said that their offer of roaming facility across 673 cities on WLL phones was "well within the licence conditions" and the company has communicated this to Telecom Regulatory Authority of India.
'Congress leaders who are making strategy for the Congress to win elections have not even won a class monitor elections.' 'When you have not contested school monitor elections, what will you know about the ground reality?'
Reliance Capital, a part of the Anil Dhirubhai Ambani Group, is looking to invest Rs 2,000 crore in insurance businesses in the next three years, which would take the company's cumulative investment in the sector to Rs 4,000 crore.
During his lifetime and after, Ambani aroused extreme responses in others.
Industrialist Mukesh Ambani would release 'Wildscapes', a coffee table book on environment and wildlife protection, here on July 29.
Anil Ambani and other promoters consolidated their stakes in REL to 52%.
