An industry source said Reliance Industries did not have a controlling stake in Yatra.com through its acquisition of Network 18. It was just a financial investment.
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.
"The report is out of context and factually incorrect. Tata's comments on wealth are in the larger context of the growing disparity in the society. The comments seem to have been deliberately sensationalised," a statement from Tata Sons said.
The deal follows Facebook picking up a 9.99 per cent stake in the firm that houses India's youngest but largest telecom firm on April 22 for Rs 43,574 crore. Within days of that deal, Silver Lake -- the world's largest tech investor -- bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore. On May 8, US-based Vista Equity Partners bought 2.32 per cent stake in Jio Platforms for Rs 11,367 crore.
RIL is on its way to becoming a global hydrocarbon major with a larger petroleum refinery and sizable upstream business.
Preliminary probe revealed that the jawan stumbled and fell which caused his automatic rifle to fire and he received two bullet injuries in his chest.
Ambani, a Rajya Sabha member, had written to the Centre about two months ago requesting necessary action, sources said.
Anil Ambani group firm RNRL first filed a case against RIL in Bombay high court in November 2006, alleging violation of a family pact about supply of gas from elder brother Mukesh led RIL's Krishna-Godavari gas fields. Since the financial year 2006-07, RNRL's legal and professional fees have surged nearly five-fold from Rs 3.12 crore (Rs 31.2 million) to Rs 15.27 crore (Rs 152.7 million) in the latest fiscal 2008-09.
'Son believes India has a significant opportunity in chip design, especially in creating IP that will be uniquely Indian.'
Ambani brothers' split is proving to be a blessing in disguise for the investors as they have seen nearly doubling of their wealth in less than four months since Reliance Industries began trading on a post-demerger split basis.
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.
Anil Ambani met Cabinet Secretary K M Chandrasekhar, Expenditure Secretary Sanjiv Misra and Fertiliser Secretary J Sreedhara Sarma to drum support against RIL's proposed pricing formula for natural gas from KG-D6 block off the east coast.
Reliance Industries, India's largest private sector oil company that shut down all of its petrol pumps earlier this year because of huge losses, wants to restart selling petrol and diesel after margins on the two fuels turned positive.
Billionaire Mukesh Ambani-led Reliance Industries has surprisingly cut down its expenses for lobbying among US lawmakers to a record low level.
The net worth of India's richest man, Mukesh Ambani, dropped 28 per cent, or USD 300 million a day for two months to USD 48 billion as on March 31 due to the massive correction in stock markets, a report said on Monday. The chairman and managing director of the diversified Reliance Industries saw his wealth decline by USD 19 billion (app Rs 144,400 crores) in the February-March period, taking his global ranking down eight places to 17th, the Hurun Global Rich List said.
RIL has been talking to groups including Gionee, Huawei and Xiaomi
RFRL Group President A N Sethuraman on September 3 filed three separate applications with the Petroleum and Natural Gas Regulatory Board for licences to sell CNG to automobiles and piped gas to households in Mumbai, Delhi, Gurgaon, Faridabad etc.
Rapid urbanisation must take into account environmental issues and make use of technology to provide better amenities in cities, Reliance Industries chairman Mukesh Ambani said on Friday.
Like many families with the means to do so, the Ambanis wanted to build a custom home.
"Reliance Brands is planning to open 20 exclusive stores of Steve Madden in the next three years. This year, we will set up two stores in Delhi and Mumbai," said Reliance Brands president and chief executive officer Darshan Mehta.
Two days after a vehicle with explosives was found near the residence of industrialist Mukesh Ambani in Mumbai, police are looking for the other car which had been seen at the spot, an official said on Saturday.
Research and development (R&D) spending by BSE 100 companies has grown steadily, rising from 0.89 per cent of revenue in FY20 to 1.32 per cent in FY24, averaging around 1 per cent over the period in-between, according to data compiled from Bloomberg and company annual reports. Also, these companies more than doubled their R&D spending in absolute terms over these five years: From Rs 25,041 crore to Rs 63,072 crore. While this reflects a prioritisation of innovation, corporate R&D investment remains relatively conservative.
Reliance Industries chairman Mukesh Ambani in his address at the Vibrant Gujarat Summit hailed Gujarat chief minister as as a leader with "grand vision."
RIL does not have any "unrelated focus" and all its investments in sectors like retail and telecom will deliver in due time.
Facing the brunt of farmer's ire over perception of it being a beneficiary of new farm laws, Reliance Industries on Monday said it neither buys foodgrains directly from farmers nor is it in the business of contract farming. In a statement, billionaire Mukesh Ambani's firm said its subsidiary Reliance Jio Infocomm Limited (RJIL) has filed a petition in the Punjab and Haryana high court seeking "the urgent intervention of government authorities to bring a complete stop to the illegal acts of vandalism (of telecom towers) by miscreants." Reliance said it "has nothing whatsoever to do with the three farm laws currently debated in the country, and in no way benefits from them."
Training his guns on BJP's prime ministerial candidate again over the Reliance gas issue, the Aam Aadmi Party on Friday asked Narendra Modi whether he will bring down the gas price if he comes to power.
Owing to a big rise in the market capitalisation of group companies such as Adani Green Energy and Adani Transmission, the group promoters, the Gautam Adani family, have closed the wealth gap with Mukesh Ambani, the promoter and owner of Reliance Industries Ltd (RIL). Ambani continues to top India's billionaire league table. The Ambani family's net worth was estimated to be Rs 8.06 trillion (around $108 billion) on Tuesday against the Rs 6.87 trillion (around $92 billion) of the Adani family.
The vehicle with explosives found near industrialist Mukesh Ambani's residence in south Mumbai had been stolen last week, and a letter found inside said this was only a 'glimpse' of things to come, police said on Friday.
He says he has tremendous expectations from RIL's broadband digital services business.
The Supreme Court on Friday rejected division of gas under the Ambani family MoU and said that it was government's right to decide the price and utilisation of the fuel, which is a national asset.
Mukehs Ambani, KLakshmi Mittal, Azim Premji features in top ten rich Indians list.
In a draft audit report on the KG-DWN-98/3, or KG-D6, block, the Comptroller and Auditor General said the Directorate General of Hydrocarbons allowed Reliance to hike capital expenditure for developing Dhirubhai-1 and 3, the largest of 18 gas finds in the block, by 117 per cent.
"We are all Indians first. Mumbai, Chennai and Delhi belong to all Indians. That is the reality," he said on Tuesday during a panel discussion at the London School of Economics organised to release Rajya Sabha MP N K Singh's book, Not by Reason Alone: The Politics of Change.
Very little notice, however, has been taken of the fact that Reliance Gas Transportation and Infrastructure Ltd, which set up the pipeline network for transport of this gas which has had rival users clamouring for government priority, is no longer owned by RIL, but by the latter's chairman and managing director, Mukesh Ambani. The change took place three years earlier and went largely unnoticed, even though RGTIL is crucial for RIL's burgeoning gas business.
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