RIL is also set to file its tariff plans, which will mark the company's intent to commercialise Jio's operations, with the regulator this week
"The MoU between the (Ambani) brothers is in the private domain and has never been produced in the court. Agreements between the brothers were entered into on the basis of negotiation and decision on the case cannot be taken on this basis," Milind Sathe, senior counsel for Mukesh Ambani's RIL had told a division bench in July this year.
The Ambanis are the only Indian family on the top 10 richest families list in Asia.
Prime Minister Narendra Modi on Wednesday said the world looks at India as an important pillar of stability, a trusted friend, an engine of growth in the global economy, a technology hub for finding solutions and a powerhouse of talented youth. He also said that in the rapidly changing world order, India is moving forward as 'vishwa mitra' (friend of the world). Speaking at the inauguration of the 10th edition of the Vibrant Gujarat Global Summit, which saw participation of state hea
It will be an IPO from the Reliance group after a gap of 13 years.
By understanding the elements that rule your birth number, you can learn how to enhance your professional journey, improve your work life and grow in your career.
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Business leaders met Manmohan Singh to discuss the problems facing the country.
Mukesh Ambani, the country's richest man and chairman of Reliance Industries, is understood to have gifted his wife, Nita, a unique, customised, plush corporate jet, on her birthday which was on November 1.
The combined networth of India's 100 wealthiest is $381 billion (nearly Rs 25.5 lakh crore), a rise of 10 per cent from $ 345 billion in 2015
At the same time, India's most valued corporate house also announced a new structure for salaries and remuneration of top executives wherein the pay packets would be capped, as against the prevailing system of commission linked to profits.
The three-day wedding that will take place in Mumbai will see over 1,000 guests.
The deal, as well as some other strategic and financial investments in works, will help Ambani cut debt at RIL.
Surajeet Das Gupta explains why Mukesh Ambani's target is by no means impossible.
Reliance Industries Ltd on Monday said last week's Supreme Court ruling halting the privatisation of Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd was a "setback", but hoped that a solution will emerge soon.
'While investors in Reliance have had to play a game of patience for long stretches, for Anil the challenge is to do what used to be his brother's forte -- generating cash by putting assets in the ground and making things,' says T N Ninan.
Ambani says nation on the cusp of a digital revolution
In Friday's market rally post the corporate tax cut, the country's top business promoters recouped more than two-thirds of the losses that they suffered in the post-Budget sell-off in equity markets.
Two Adani group companies -- Adani Enterprises and Adani Transmission -- have uprooted the traditional leader Reliance Industries in annual wealth creation in 2022 so far, while the top 100 of them created a massive Rs 92.2 lakh crore of wealth, according to a report. However, Reliance Industries has smashed all records to emerge as the largest wealth creator during the five-year period ending March 2022, says the leading brokerage Motilal Oswal in its 27th annual wealth creation study. The Gautam Adani group companies have been rallying to dizzying heights in the year as the group snapped up many assets and diversified into newer areas.
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.
What manufacturing was for China, super intelligence will be for India: Ambani
April-June 2023 (Q1FY24) was a mixed quarter for India's top family-owned business groups. Three of the big five in terms of revenue reported a year-on-year (Y-o-Y) decline in combined net sales and two saw a Y-o-Y fall in net profits. Combined net sales of all listed companies in the five groups were up just 2.2 per cent Y-o-Y at Rs 6.6 trillion in the quarter, down sharply from the 10.3 per cent in the March 2023 quarter (Q4FY23) and 42.8 per cent in Q1FY23.
The ministry has attributed the fall in output to non-fulfilment of RIL's commitment to drill 22 wells in the field.
From the time he first rose to prominence during the movement against the then UPA government, Arvind Kejriwal has regularly grabbed headlines for his surprise moves and decisions. Here are 10 such instances.
The wedding, which is billed as the India Inc's most expensive yet, was held at Antilla.
The company expects net proceeds of Rs 53,036.13 crore from the rights issue that opens on May 20 and closes on June 3.
Billionaire Mukesh Ambani's Reliance Industries has announced the contours of carving out of its oil-to-chemicals (O2C) business into an independent unit with a USD 25 billion loan from the parent, as it looks to unlock value by selling stakes to global investors like Saudi Aramco.
Dhirubhai Ambani lived in a one-room chawl in Mumbai with his wife and children and went on to establish the Reliance Group.
Reliance Jio test launched its services last December, but dates for commercial launch has not been announced.
The 2016 upstart, called Jio, dislodged rivals and has emerged as the nation's No. 4 carrier by offering call services free for life and data transmission at dirt cheap rates.
Two social activists have approached the Bombay High Court challenging the 'Z' category CRPF security sanctioned by the Centre for Reliance Industries chairman Mukesh Ambani.
The total income of the company rose by 18.87% to Rs 87,477 cr.
R C Bhargava, Kiran Mazumdar-Shaw & Dinesh K Sarraf are other members of the business delegation
More than a year of Covid-19 has pushed most businesses into gloom but Reliance Industries Ltd (RIL) managed to reduce its gross debt 25 per cent, enabling it to turn towards its next phase of capital expenditure that has come in the form of a Rs 75,000-crore plan for green energy and power storage. The company managed to stay afloat during the pandemic because of its large presence in the consumer-centric businesses of retail and telecommunication (see chart: "A new Reliance"). These two businesses constituted 45 per cent of its EBITDA during FY21 from 36 per cent in FY20.
Ambani is in good company. The likes of ultra-rich individuals like hedge fund billionaire Ray Dalio and co-founder of Google Sergey Brin have chosen Singapore to establish their family offices. So have British inventor James Dyson, famous for his bladeless fans and hair dryers and vacuum cleaners, and Zhang Yong, founder of China's Haidilao hotpot restaurant chain, reports Lee Kah Whye.
The global billionaires list witnessed as many as 94 new entrants from India, stated a report by Hurun India on Tuesday. Following a net addition of 84, the country's billionaire tally touched 271 with their combined wealth at $1 trillion, noted the report. Mukesh Ambani, chairman & managing director of Reliance Industries, is the only Indian to make it into the top 10 of the Hurun Global Rich List 2024, a ranking of billionaires in US dollar terms.
The company raised Rs 53,124 crore through a rights issue and sold nearly 33 per cent stake in Jio Platforms Ltd - the firm that houses telecom business and apps - to likes of Facebook and Google for Rs 152,056 crore.
Global markets trends, inflation, release of industrial output data and quarterly earnings will dictate movement of the equity benchmarks this week, analysts said, adding that volatility might continue amid slew of announcements of macroeconomic data at the global level too. Moreover, foreign fund movement, crude oil prices and trend in rupee would also act as major drivers for the equity market, they added. "The direction of global equity markets along with movement in dollar index and crude oil prices will continue to dominate while inflation numbers of the USA on May 11 and inflation and IIP numbers of India on May 12 will also cause volatility in the market," said Santosh Meena, head of research, Swastika Investmart Ltd.
Billionaire Mukesh Ambani on Friday backed the proposed data privacy and cryptocurrency bills, saying India is putting in place the most forward-looking policies and regulations. Ambani, who has been a votary of Indians owning and controlling their own data and the nation drafting strict rules around how digital information is stored and shared, said nations have the right to build and protect strategic digital infrastructure. Stating that data is the 'new oil', he said every citizen's right to privacy has to be safeguarded. "India is putting in place the most forward-looking policies and regulations," he said at the Infinity Forum, hosted by International Financial Services Centres Authority (IFSCA).
'In the audience's mind there is no urgency to go see a film in the theatre.' 'If you pay for social media buzz it does not convert into bums on seats.'
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