With oil flowing past $145 a barrel, leading companies in the country have lined up plans to explore opportunities in jatropha cultivation and prospects of biofuel. The companies are flocking to Gujarat, which has earmarked 1,900,000 acres in the Narmada region for the crop cultivation.
Reliance Industries chairman Mukesh Ambani, equipped with a war chest of an estimated Rs 100,000 crore (Rs 1000 billion), is understood to be on a global hunt for acquiring a retail giant of the size of Wal-Mart or Tesco.
Reliance Industries Chairman Mukesh Ambani has said that the company will use the polymer futures platform to hedge its risk because of price volatility in oil.
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.
The complainant stated that Reliance group has consented to allot a petrol bunk to him at Peddapalli and for this purpose he even accepted to give his land for market price.
Isha and Akash, 23, were appointed to the boards of Reliance Jio Infocomm Ltd and Reliance Retail Ventures Ltd, the company said.
The share price of other ADA group firms declined as well, including Reliance Infrastructure (lost Rs 1,660 crore), Reliance Communication (Rs 867.5 crore), Reliance Capital (637 crore) and Reliance MediaWorks (Rs 60 crore).
'While renegotiating the deal, it is likely that Anil Ambani could ask for a huge compensation from RIL to satisfy the ADAG firms' shareholders, a broker closer to the Ambanis said.
Reliance Brands Ltd (RBL) will pick a 40 per cent minority stake in renowned fashion designer Manish Malhotra's MM Styles Pvt Ltd, for an undisclosed sum, the two companies said on Friday. This is the first external investment for the brand, which had so far been privately held by the designer. The strategic partnership is aimed at accelerating the 16-year-old couture house's growth plans in India and across the globe, they said in a joint statement.
"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.
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 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.
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.
RIL is on its way to becoming a global hydrocarbon major with a larger petroleum refinery and sizable upstream business.
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.
Ambani, a Rajya Sabha member, had written to the Centre about two months ago requesting necessary action, sources said.
Much of the discussion is happening at a "family level, not a corporate level". That means it is an Ambani or a Goenka in direct talks with Johar.
Reliance Industries chairman Mukesh Ambani on Monday announced a Rs 2 lakh crore investment in deploying fifth-generation or 5G telephony with rollout in metro cities by Diwali. Jio, the nation's largest telecom operator, has deployed standalone 5G stack rather than upgrading the existing 4G network, to offer ultra-high speed internet, he said at Reliance Industries' 45th AGM.
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.
Billionaire Mukesh Ambani-led Reliance Industries has surprisingly cut down its expenses for lobbying among US lawmakers to a record low level.
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.
"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.
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.
Like many families with the means to do so, the Ambanis wanted to build a custom home.
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.
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 has been talking to groups including Gionee, Huawei and Xiaomi
RIL does not have any "unrelated focus" and all its investments in sectors like retail and telecom will deliver in due time.
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.
Mukesh Ambani is stringing in new partnerships within the Reliance ecosystem with the best in global business -- from Facebook, Google and Microsoft to umpteen sovereign wealth funds and a soon-to-be-declared strategic partner in a big global retailer, notes Shailesh Dobhal.
He says he has tremendous expectations from RIL's broadband digital services business.
The IPO boom in 2023 added four new promoters to the billionaires' list.
Mukehs Ambani, KLakshmi Mittal, Azim Premji features in top ten rich Indians list.
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.
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