Prime property rates in South Mumbai at Rs 60,000 a sq ft remain high despite a slowing realty market.
A day after the merger approval of Reliance Capital with RCVL, Anil Ambani-controlled Reliance Energy Ltd on Tuesday approved the merger of Reliance Energy Ventures
The Ambani brothers -- Mukesh and Anil -- came together for the inauguration of a memorial for the legendary industrialist and founder of Reliance Group Dhirubhai Ambani in Chorwad town in Junagarh district on Wednesday, in the presence of the entire family.
The Aditya Birla group is close to buying the Reddy family's 66.32 per cent stake in Apollo Sindhoori Capital Investments (ASCIL), marking a re-entry of the group into the broking business.
Reliance Capital Partners, a part of Anil Ambani-controlled Reliance Capital Group, will acquire 14.55 per cent stake in Maxwell Industries Ltd for Rs 45 crore (Rs 450 million).
The Forwards Markets Commission has been working on preventing any possible conflict of interest a promoter of a commodity exchange may have between their roles of running the exchange and other businesses such as broking and trading. "So far, we had two rounds of meeting in this regard. We are resolving the issues and guidelines would be finalised by the end of October," said FMC Chairman B C Khatua.
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.
The court, which quashed the emergency powers invoked by the state for land acquisition, also asked the state to invite objections from land owners.
Anil Ambani Group firm Reliance Money on Friday announced its foray into Europe by setting up operations in Ireland and the UK and is looking to tap over two million non-resident Indian population in the region.
The tariff war has now spread to all possible sections, with Anil Ambani group company Reliance Infocom on Wednesday announcing a 36 per cent reduction in ISD rates to all Gulf countries at Rs 6.99 a minute.
Public insurer New India Assurance has accused the troubled NACIL of flouting the tender norms for about Rs 45,000-crore (Rs 450 billion) insurance cover for Air India's fleet to favour a consortium led by an Anil Ambani group firm, which refuted the allegation.
Ambani brothers on Wednesday showered lavish praises on Prime Minister Narendra Modi saying, India has now got a decisive and visionary leader.
Reliance Power Ltd's public issue has so far generated demand for shares worth more than $179.5 billion (Rs 706,000 crore) as bids continued to pour in on the last day of the Anil Ambani Group firm's IPO.
The calculation excludes cross-holding of listed group cos in each other.
The Western Vidarbha region comprising three districts of Akola, Washim and Buldana recorded bids of over Rs 50 crore (Rs 500 million) in the IPO that had opened on January 15, according to banking and private money market sources.
The decision includes suspension of sale of gold coins and other physical forms of the yellow metal, as also as an investment product across all its businesses and subsidiaries, Reliance Capital said in a statement.
The board of Indian Petrochemicals Corporation is likely to meet on January 20, a day before the board meeting of flagship company Reliance Industries, to approve October-December, 2004, financial results.
CBI prosecutor K K Goel opposed the application saying it was "dragging the trial" and noted that Anil Ambani too had filed a similar plea earlier.
Anil Ambani Group company Reliance Communications introduced on Thursday a new tariff plan for its post paid subscribers, who can now make STD calls at Rs 1.20 per minute.
Reliance Jio to take over mobile business assets of troubled RCom at an estimated value of Rs 24,000-Rs 25,000 crore.
Taking note of the developments relating to the status of Anil Ambani as director on the board of Reliance Group entity IPCL Ltd, Securities and Exchange Board of India has asked stock exchanges to check the company's adherence to listing agreement.
The last time a bear attack was launched on a controversial businessman was when a cabal of brokers launched an assault in the early 1980s on what they thought was an over-priced Reliance share, recalls T N Ninan.
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.
The total income for the second quarter stood at Rs 56.96 crore, while its cash and liquid balance stood at Rs 10,756 crore, the filing said. However, the firm reported a loss from operations (before other income) of Rs 19.59 crore for the second quarter, while its operational loss was Rs 36.96 crore for the six months ending September 30. For the half year ended September 30, the firm had a net profit of Rs 98.44 crore, Reliance Power said in a filing to the BSE.
This would be done either through strategic sale or initial public offering, ADAG chairman Anil Ambani told shareholders at the company's annual general meeting in Mumbai.
Securities Appellate Tribunal on Monday adjourned its hearing till January 21, on complaints against Anil Ambani group's $3-billion Reliance Power IPO, scheduled to hit the market on Tuesday. On January 4, SAT had refused to stay the Initial Public Offer, while saying that it would consider the issue on January 14.
The company, which is bullish on its growth prospects, plans to double the gold coin sales from the current 1,000 kg by the end of the current financial year.
The group has lined up close to a dozen projects, which will take the company's installed capacity to around 18,000 mw.
Three Anil Ambani Group companies -- Reliance MediaWorks, Reliance Capital and Reliance Capital Partners -- have acquired 16,196 shares, or 0.05 per cent stake, of Fame India through open market transaction, Reliance MediaWorks said in a filing to the Bombay Stock Exchange.
The seven listed companies of the Anil Ambani Group, led by Reliance Power and RCom, made their investors wealthier by Rs 16,969 crore.
Anil Ambani group's Reliance Power IPO on Tuesday generated a demand of close to Rs 1 lakh crore (Rs 1 trillion) within four hours of start of the book building process, with the issue getting oversubscribed nearly 10 times.
As the situation was limping back to normalcy in Andhra Pradesh a day after unprecedented violence and attacks on the offices and retail outlets of both the rival Reliance groups, the state government booked a criminal case against a Telugu news channel TV5 for carrying an unverified report linking the names of Mukesh and Anil Ambani to the alleged foul play behind the death of former Chief Minister Y S Rajasekhara Reddy in a helicopter crash in September last year.
Blackstone, KKR, and Bain Capital, among others, are in the race for its general insurance arm, and Bandhan Bank, Bain, and Dabur Investments have shown interest for RCap's 51 per cent stake in the life insurance business.
Anil Ambani group company Reliance Communications on Monday posted a net profit after tax at Rs 8.45 crore (Rs 84.5 million) for the quarter ended June 30, 2006.
Reliance Infrastructure is fully geared to deliver the project in 60 months from the appointed date of June 24, 2019, as per the contract, Reliance Infrastructure said in a BSE filing.
The prime minister must clear his stand on the Rafale deal after Hollande's remarks, he said.
Azim Premji, the chairman of Bangalore-based software giant Wipro, is the richest Indian with a wealth worth Rs 31,198 crore (Rs 311.98 billion).
Looking to monetise assets not in Reliance Capital's core area of business.
Resuming arguments over its dispute with Anil Ambani Group firm Reliance Natural Resources Ltd, senior counsel Harish Salve said it was RNRL which had in 2007 argued that marketing freedom cannot be allowed to the Mukesh Ambani-run firm and asked the government to frame Gas Utilisation Policy.
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