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.
The Anil Ambani group has already readied a war chest for the new initiative.
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.
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
"There are eight companies (who have put in expression of interest)... RNRL is one of them," said A K Ahuja, managing director, Ratnagiri Gas and Power Pvt Ltd, the company that operates the nation's biggest gas-fired power plant and the adjacent LNG import facility. Others in the fray include state power utility NTPC and GMR. Ahuja said RGPPL will frame the bidding criteria and call for financial bids by next month.
Petroleum secretary RS Pandey declined to comment on the court verdict till the Government received a copy of the order. The Bombay high court on Monday upheld Anil Ambani group firm Reliance Natural Resources Ltd's contention to buy 28 mscmd of gas from Reliance Industries Ltd at USD 2.34 per mmBtu for 17 years.
It was clearly the beginning of a new era for the Anil Dhirubhai Ambani Group to start generation at what was not only their first, but also North India's first private sector thermal power plant in Rosa village on the outskirts of Shahjahanpur town in Uttar Pradesh.
Year 2013 saw business leaders facing the ire of hostile investigative agencies.
Reliance group adopted a new name, Reliance Infratel, before filing DRHP for its IPO.
Anil Ambani Group firm Reliance Capital has initiated the process of divesting up to 26 per cent stake in its life insurance subsidiary and is mulling options like bringing in a strategic foreign investor and an initial public offer. The company, which has been going solo so far, has decided on this divestment at this point of time because it will give a better shareholder value, besides sentiments in the market is also looking bright.
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.
The company has won the award under the 'Operator Leadership' category for having demonstrated leadership in the wireless community through the expansion of 3G CDMA system deployments and the unique implementation of 3G CDMA technologies in a specific market, a release issued by the company stated.
The 4G service may use Reliance Retail, with a surging customer base, as the launch pad
The Anil Ambani group firm is the sole bidder for the engineering, procurement and construction contract for DVC's proposed 1,000 MW thermal power plant at Raghunathpur in Purulia district of West Bengal.
Reliance Money, promoted by Anil Dhirubhai Ambani Group firm Reliance Capital, would offer the brokerage services across 700 cities, including Delhi and Mumbai, through 3,000 outlets.
Analysts said with more power sector companies referred to the NCLT by banks, large companies would be at an advantage.
Reliance ADAG is diversifying its services for stability and investing in Hollywood to reach scale.
Investors in Anil Ambani group firm Reliance Communications have reaped a windfall with the company adding over Rs 50,000 crore (Rs 500 billion) in its market cap since its listing on the bourses last year.
The Telecom Dispute Settlement Appellate Tribunal (TDSAT) upholds government's decision on dual technology for RCom.
Foreign institutional investors have been allowed to invest up to Rs 5,400 crore (Rs 54 billion) in Reliance Communications through ADRs or GDRs.
'Rahul is only making a pathetic public spectacle of his lack of judgment and good sense by hallucinating that somehow, the Congress, or whatever political combine is cobbled together, will displace the BJP at the coming Lok Sabha election by constantly harping on the Rafale deal,' argues retired civil servant B S Raghavan.
Anil Ambani group firm Reliance Energy on Tuesday said it has bought shares worth over Rs 230 crore, representing nearly 30 per cent of the buyback offer.Reliance Energy bought back 81,680 equity shares on Tuesday, it added. The last date for the buyback would be March 4, 2009, a year from the date of the Board's approval for the offer.
The company is building floating LNG terminal in joint venture Reliance Power.
"A meeting of the board of directors of the company will be held on March 5 to consider buyback of equity shares of the company," Reliance Energy said in a communique to the Bombay Stock Exchange.
R-Power has asked its shareholders to pay up the balance payment by Feb 26, to avail of bonus shares.
The application of Anil Ambani Group company Reliance Infrastructure (R-Infra) for an extension in its existing power distribution licence to the suburbs of this metropolis has been rejected. It has, instead, been told to join the competitive process for a new one, with four other bidders.
The CBI on Wednesday called Loop Telecom, CEO Sandeep Basu, Chairman of Shyam group Rajiv Mehrotra, former telecom minister A Raja's brother A K Perumal and close aide Sadiq Batcha, for questioning in relation with the 2G spectrum scam.
The key highlight Reliance Life Insurance Highest NAV Advantage Plan is that it offers guarantee on maturity with the highest net asset value per unit achieved during the entire 15 years policy term, Reliance Life Insurance said in a statement.
Reaching out to present and former employees of the defence PSU at an interaction with them, Gandhi said, work done by HAL for the country was tremendous and the country owed debt to it for "protecting us" and creating a scientific vision.
Top leaders from India Inc may be busy throughout the year, but they too have a very strong social life beyond work.
While some bankers said that responses to the Sebi are being delayed deliberately in some of the cases in view of the turbulent market conditions prevailing on the bourses, those associated with some of these deals said these are 'routine' clarifications and would be responded in the due course. According to the latest processing status as on March 14 of draft offer documents filed with Sebi, clarifications are currently awaited from lead managers in relation to 20 IPOs.
Real estate major DLF, Mukesh Ambani-promoted Reliance Industries, cinema production and distribution company Eros International, Reliance Anil Dhirubhai Ambani Group and Videocon Industries are believed to be readying to bid for team ownership rights in the Indian Premier League.
The acquisition will enable the Anil Ambani group company to foray into the African country. However, financial transactions of the deal were not disclosed.
The company added 2.8 million wireless subscribers on its GSM and CDMA platforms in the month of June, RCom said in a statement. RCom offers telephony services on both GSM and CDMA platforms.
Total income rose to Rs 115.46 crore (Rs 1.15 billion) during the same quarter, from Rs 92.92 crore (Rs 929.2 million) in the corresponding period a year ago, RNRL said in a filing to the Bombay Stock Exchange. Shares of RNRL closed at Rs 83.85, up 1.39 per cent on the Bombay Stock Exchange.
Seeking to bring share trading closer to consumers just like ATMs, Reliance Capital's stock brokerage arm Reliance Money launched on Monday Internet trading services through web-enabled retail kiosks.
Unlike the traditional model of paying commission to insurance agents on the basis of the business generated by them, the rural agents would be recruited under this new programme on a fixed income structure, the company said.
"The Board of the company has approved a proposal to further unlock overall shareholder value by transferring its infrastructure projects to a separate 100 per cent subsidiary, subject to compliance with applicable laws," REL informed the Bombay Stock Exchange.
India's largest companies are making inroads into one of the country's most ancient businesses - the purchase of gold by the nation's hundreds of millions of women for weddings, festivals and savings.
It is a tale of two deals: One completed and the other, announced and later aborted.
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