The Anil Ambani Group-promoted Reliance General Insurance is looking to buy a majority stake in its rival Royal Sundaram, while talks are in advanced stages to bring in Swiss Re as foreign partner in its life insurance venture.
Anil Ambani Group firm Reliance Communications on Friday said its R-World, will be powered by mobile data services and solutions provider, Motricity, which will deliver complete mobile Internet and data services. The mobile data services portal has been developed on Motricitys mCore platform which powers 3G mobile portals of many leading global 3G service providers.
Life Insurance Corporation of India has hiked its stake in Anil Ambani Group company Reliance Communications to 7.02 per cent after buying fresh shares worth Rs 1,274.4 crore through an open market transaction.
Consequently, Anil Ambani-promoted Reliance Power will not get any extra gas for its four power plants, including the existing Samalkot power plant in Andhra Pradesh. Senior government officials said the minutes of the meeting of the empowered group of ministers on the New Exploration Licensing Policy had been finalised.
Anil Ambani-led Reliance Power's board will on July 4 consider merging another group firm Reliance Natural Resources with itself.
Anil Ambani group firm Reliance Communications will acquire Digicable, the country's largest cable TV service provider, in an all-stock deal believed to be worth about $1 billion.
Telecom tribunal TDSAT on Monday rejected a contempt application filed by Anil Ambani group company Reliance Communications against Cellular Operators Association of India, for allegedly taking the legal battle on spectrum for a media trial.
Asia's richest man, Mukesh Ambani, signed off an address to employees last week by assuring them that 2024 would be better than 2023 for both Reliance Industries and India. Ambani isn't an exception. Promoters and their representatives from several other conglomerates have expressed similar optimism.
According to reports, the deal, if successful, could fetch Hutchison as much as $14 billion and would be Asia's largest private equity deal.
Move to skirt public offer for S African telco.
Reliance Infratel, a subsidiary of the group's telecom arm RCom, is looking to dilute 10-15 per cent stake in a private placement of shares with the PE firms, investment banking sources said. The company had last year scrapped plans to raise about Rs 6,000 crore (Rs 60 billion) through sale of about 10 per cent shares in an IPO due to adverse market conditions.
Mukesh Ambani-led Reliance Industries on Friday said it may sell gas from its KG-D6 fields to RNRL at $4.20 per mmBtu if the government allocates fuel to the Anil Ambani Group firm.
Anil Ambani group's Reliance Money on Tuesday sparked a price war in the highly competitive brokerage space by offering a free trading account to its demat account holders, with an aim to tap up to 30 crore (300 million) potential clients. Reliance Money also announced a partnership with Corporation Bank to offer broking services to 9.5 million account holders of the public sector lender.
Maytas Infrastructure, majority-owned by the family of scam-hit IT firm Satyam's disgraced founder B Ramalinga Raju, is believed to have proposed bringing in Reliance Infra as a partner in the prestigious Rs 12,200-crore (Rs 122 billion) metro rail project in Hyderabad.
Samvat 2070 was a great year for top Indian conglomerates in the stock markets.
Relaince Energy received the shareholders approval for raising funds through issue of securities.
Anil Dhirubhai Ambani Group company Reliance Life Insurance has been awarded a high rating in customer satisfaction for the third year in a row, according to a survey.
Ambani siblings' war intensified on Saturday with the younger Anil's group warning to retaliate in case Mukesh-led Reliance Industries goes legal with its claim on the potential multi-billion dollar amalgamation deal that the former is pursuing with South African telecom giant MTN.
An end to the bitter seven-month old battle between the Ambani brothers for the ownership of the Reliance business empire appeared imminent and an announcement about the settlement is likely to be made on July 6, the third death anniversary of their
Banking on the recent cable landing station regulations, Reliance Communications is planning to launch global video transmission services on its new international long distance network.
Indian mobile operators led by Reliance Communications, BSNL and MTNL on Friday announced a bonanza for their users who are frequent travellers by waiving or nearly eliminating roaming charges.
Within days of revoking a non-compete agreement that his group had with his younger brother Anil, Relianec Industries Ltd chairman Mukesh Ambani is believed to have held a long-drawn-out discussion with telecom czar Sunil Mittal.
The strategic alliance between the two companies would address the rapidly growing demand of Hollywood studios for converting both new films shot in 2D as well as older film released in cinemas and on home platforms into the 3D format, Reliance MediaWorks said in a filing to the Bombay Stock Exchange.
'Some of the learning may be implemented in the Budget'
P Sampath, the current CFO, moves to a new role as the President of Business Optimisation and Improvement for Essar Energy plc, the company said in a press statement.
The two sides had approached Supreme Court challenging a decision by the Bombay high court on June 15, which said RIL should provide 28 million cubic metres of gas per day to RNRL at $2.34 per mmBtu and both the parties should sign a necessary agreement for the same within a month.
Anil Ambani has won Lebanon-based M1 Chief Executive Officer Azmi Mikati's approval for a possible merger of Reliance Communications and South Africa's MTN Group following a meeting between the two.
Tribunal's direction came during the hearing of a petition filed by Anil Ambani group firm Reliance Fuel Resource Ltd, seeking license for laying pipelines from KG Basin to its upcoming power plant at Dadri, Utter Pradesh. The board had directed Reliance Fuel to apply afresh for a license to build a pipeline from Kakinada to Dadri as there were no guidelines at that time. It asked the company to apply in compliance with new regulations.
Anil Ambani group's Reliance Power appears to have failed to hold back a large number of foreign and domestic shareholders, even by offering bonus shares, yet it remains the most widely held entity in India.Among the institutional investors, a marked decline has been in the number of FIIs, while that of domestic institutions has also fell to 103, from 345 previously.
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.
CDMA technology developer Qualcomm on Tuesday said it was not negotiating with Indian telecom players, including Anil Ambani group company Reliance Communications, on lowering the royalty paid by them.
Reliance gold scheme does not require demat account.
A Bench headed by Justice S H Kapadia, while setting aside the high court order, directed Reliance Energy to submit its financial bid for the project within three months.
The company will structure its services under four business segments -- Data, voice, WiMax and National Long Distance services -- that would help it increase focus on customer segments and improve revenue generation. The group will realign operations of Reliance Globalcom (formerly Flag Telecom), Reliance Globalcom Services (earlier acquired Yipes Enterprises) and Reliance Vanco Group (formerly Vanco Group) under the four proposed verticals.
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.
The company is also mulling to enter the currency futures space through the exchange. Recently, the Securities and Exchange Board of India had issued guidelines for SME exchange, and had set a minimum net worth criteria of Rs 100 crore (Rs 1 billion) for entity willing to start it.
Anil Ambani group flagship Reliance Communications on Friday entered the elite club of companies with Rs 1 trillion market value on the back of robust quarterly results, joining the likes of ONGC and Reliance.
In a major blow to Reliance Energy's plans to expand its business in power sector, the Central Electricity Regulatory Commission has rejected the application of the Anil Ambani-controlled company for a transmission licence.
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