Reliance's big-bang entry across the solar ecosystem will cut dependence on Chinese imports drastically. And Ambani's repeated emphasis that RIL's new energy foray will be 'a truly global business' points that his group is playing not just for a share of the Indian pie but to be the OEM in the larger 5,000 GW global market by 2030, points out Shailesh Dobhal.
The country's two venture capital firms, Anil Ambani Group's Reliance Technology Ventures and Nexus India Capital, have been named in the Red Herring Top 100 Global Venture Capitals.
Passing an interim order, Telecom Dispute Settlement and Appellate Tribunal also directed BSNL to restore RCom's inter- connection within 48 hours of such payment. TDSAT Chairman Justice Arun Kumar said: "I am of a view that the petitioner (Rcom) should deposit an amount of 65 per cent of disputed claim in one week and respondent should restore the connection with 48 hours of the deposit."
Looking to monetise assets not in Reliance Capital's core area of business.
"We remain open to opportunities if appropriate valuations come up," said Reliance MF CEO Sundeep Sikka. Reliance MF, which is India's biggest mutual fund in terms of assets under management, has also become the first fund house to cross an average AUM of Rs 1 lakh crore. "Consolidation has already started in the industry and, going forward, only top 5-7 fund houses would command the major chunk of funds as investors will have confidence in large fund houses," Sikka said.
In a development that could prove to be a major setback for Anil Ambani group, the E Sreedharan Committee, entrusted with the task of revaluating the bids and procedure for the Rs 5,400 crore
Anil Ambani Group firm Reliance Capital on Monday sold its entire stake in another group company Reliance Energy to other promoters in a block deal on the bourses, booking profits of about Rs 350 crore (Rs 3.5 billion).
The COAI decision comes in the wake of Anil Ambani group company Reliance Communications and two other CDMA players receiving approvals to offer GSM services in their respective circles of operation from the Department of Telecom on Friday.
After dropping "Kolkata" from Indian Premier League team Kolkata Knight Riders, actor Shah Rukh Khan has started discussions with Nokia, Sahara, the Anil Ambani group, and several other companies to sell the team he bought just over a year ago for Rs 300 crore, and exit the business.
A bench of justices G S Singhvi and V Gopala Gowda said the issue raised by the accused needs to be heard before taking up other pleas challenging summoning of 13 witnesses including Reliance Anil Dhirubhai Ambani Group chairman Anil Ambani and his wife Tina Ambani.
Reliance Mutual Fund has the highest asset under managment among all the Indian mutual fund houses, as on June 30 its AUM was over Rs 59,857 crore (Rs 598.57 billion) and had 32.8 lakh investors.
Five companies, including NTPC, Reliance Power, Lanco Infratech, Jindal Power and Sterlite Energy, of the 11 pre-qualified bidders, were in the fray for the project. The financial and technical bids for the coal-based thermal power project were invited on December 29 and the final financial bids were to be opened within 15 days.
Last month, the ADAG firm announced that it had bought back 250 FCCBs worth $100,000 each, aggregating about Rs 121.22 crore (Rs 1.21 billion). The bonds were bought back at a discount of 52.5 per cent over the issue price. In two tranches, RCom has bought back FCCBs aggregating to about Rs 170 crore (Rs 1.7 billion).
It has also got the Reserve Bank's nod to set up a non-banking finance company subsidiary for its consumer loan business, which would primarily focus on vehicle loans and lending to SMEs. Both HFC and consumer finance subsidiaries would be in place in the next two months, and the employees currently working with the related businesses at Reliance Consumer Finance Ltd would be relocated to the new entities.
Anil Ambani Group firm Reliance Communications said it has bought back foreign currency convertible bonds (FCCBs) worth Rs 121.22 crore (Rs 1.21 billion).
Anil Ambani group company Reliance Communications on Friday a market capitalisation of $20 billion, in line with the rise in stock markets.
Intensifying 3G tariff war, Reliance Communications (RCom) on Friday announced up to 61 per cent cut in rates, following similar reduction by Airtel and Idea.
Mukesh Ambani-led RIL and Anil Ambani's RNRL are locked in a dispute over the terms of the gas supply master agreement, whereby RIL is to supply gas for RNRL's power projects. Earlier, the division bench of Justices J N Patel and K K Tated had said it would like to finish the hearing before Diwali, so that the judgment could be written during the vacation. But now, with the government's entry into the litigation, the hearing may not get over before the Diwali vacation.
But analysts advise against dumping, say these could recover if market conditions improve.
Vodafone, which is yet to announce the acquisition, has offered to partner Essar, on which the Indian conglomerate said, "We are at the moment evaluating all our options in the best interest of the Group."
The stock market on Friday greeted with enthusiasm the reports of Reliance Communications planning acquisition of rival Hutch-Essar, as the Anil Ambani group firm gained a massive Rs 4,000 crore (Rs 40 billion) in market value.
The monopoly of the state-owned State Bank of India in managing provident fund totalling about Rs 2.5 lakh crore (Rs 2.5 trillion) on Tuesday ended with government allowing three private players including ICICI and HSBC a piece of the cake.
The government will sign contracts on Tuesday for exploitation of gas trapped below coal seams in nine areas with three consortia, including one led by Anil Ambani Group companies.\n
The shares of the company, which operates radio station Big 92.7 FM, opened at Rs 89.75 and soon gained momentum to touch a high of Rs 138.40 on the BSE.
Reliance Communications has received a $750 million (Rs 3,000 crore) loan from China Development Bank that would be invested in building a nationwide GSM footprint for the telephony major. The Anil Ambani group company has received the loan for a ten-year period and at a rate of Libor (London Inter-Bank Offered Rate) plus 80 basis points. RCom had received the Reserve Bank of India (RBI) approvals for the loan, sources close to the development said.
The group had a net profit of Rs 68.58 crore (Rs 685.8 million) for the year ended March 31, 2008, the company said in a filing to the Bombay Stock Exchange. The consolidated income increased to Rs 418.96 crore (Rs 4.18 billion) for the year ended March 31, 2009, up 14.06 per cent from Rs 367.31 crore (Rs 3.67 billion) in the year-ago period.
DoT sources confirmed receipt of the report by auditors Parekh and Co and said that it is yet to examine the findings. DoT would ask for RCom's response later.
Reliance Communications launched a new 'Simply Reliance Plan' on its CDMA and GSM networks, which offers a single rate of 50 paise per minute across the country with no hidden charges.
After making its entry into the Bombay Stock Exchange's benchmark 30-share index Sensex in May
The petroleum ministry is mulling filing a defamation suit against an Anil Ambani Group firm for persisting with 'false claims' pertaining to government revenues from Reliance Industries KG-D6 fields.
The Appellate Tribunal for Electricity has set aside an order of Maharashtra Electricity Regulatory Commission against Reliance Energy Ltd on a dispute related to billing complaints by its customers in Mumbai.
Anil Ambani group firm Reliance Communications on Monday said its consolidated net profit rose by 11.91 per cent to Rs 6,044.93 crore (Rs 60.44 billion) for the year ended March 31, 2009, over the same period last year.
London-based Dar Consultants has said its bid and the one by preferred bidder Anil Dhirubhani Ambani Group's RELINFRA-Hyundai consortium are both 'responsive' or worth considering. Dar Consultants' recommendation puts the responsibility of re-considering the preferred bidder between the warring brothers squarely back with the political executive. The state cabinet's committee on infrastructure will meet Wednesday to decide the fate of the project.
Maharashtra chief minister Vilas Rao Deshmukh announced on Thursday sanctiong of Rs 2,356 crore for the first corridor of Varsova-Andheri-Ghatkopar rail project jointly to Anil Ambani group company Reliance Energy and MMRDA.
Reliance group adopted a new name, Reliance Infratel, before filing DRHP for its IPO.
Anil Ambani will take over as the chairman of Pipavav Defence
FIIs have turned out to be the biggest buyers of Reliance Power's IPO. Reliance Power's FII are holding over ten-times of mutual funds.
Reliance Infratel, a subsidiary of Reliance Communications has filed papers with Sebi for issuing IPO.
"It is a reflection of world community in the future of India... Investors seem to be confident in the future of Indian economy," Chidambaram told PTI on IPO that hit the market this morning for mopping upto Rs 11,700 crore (Rs 117 billion). Not only the IPO was fully subscribed within a minute of opening, it generated demand worth over Rs 50,000 crore (Rs 500 billion) in less than two hours.
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