Billionaire Mukesh Ambani-run Reliance Industries will sell natural gas from its eastern offshore KG-D6 fields to Anil Ambani Group firm's power plant in Andhra Pradesh at government approved rates.
The government and the ruling Bharatiya Janata Party have dismissed the Pegasus Project reports as concocted and evidence-less.
IndusInd International Holdings chairman Ashok Hinduja on Tuesday announced the acquisition of Reliance Capital, completing the three-year-long resolution process of the debt-ridden company. IndusInd International Holdings Ltd (IIHL) has transferred the bid amount to the escrow account of the lender, and the takeover of the management from the Administrator will happen on Wednesday.
Reliance Defence and Germany-based Rheinmetall have agreed on a 'strategic partnership' in the field of ammunition, officials on Thursday said.
CBI on Monday submitted a list of five witnesses, including Anil Ambani, who are scheduled to be called for recording of their statements before the court.
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.
A sharp rise in Reliance-Anil Dhirubhai Ambani Group (ADAG) stock prices baffled market players on Tuesday.
US-based billionaire's $100 million buy values the Anil Ambani company at $3 billion.
The seven listed companies of the Anil Ambani Group, led by Reliance Power and RCom, made their investors wealthier by Rs 16,969 crore.
The Anil Dhirubhai Ambani Group is open to have partners for its insurance and mutual fund businesses, its chairman Anil Ambani said on Friday.
However, no formal confirmation of the meeting and the issues discussed could be obtained from either group.
The Reliance Anil Dhirubhai Ambani Group plans to develop Baramati, about 100 km from Pune, as a hub for private jets, with airports in Mumbai and Pune facing acute shortage of parking bays. Baramati is also the home town of Union agriculture minister and Nationalist Congress Party chief Sharad Pawar.
Reliance Power Ltd, part of the Reliance Anil Dhirubhai Ambani group, is in talks with five leading global power companies to sell 15 per cent equity stake in the company. Preliminary talks have started with three Chinese power companies, which include China Light and Power Holdings, and French and Canadian companies.
The group is set to become the second largest Indian corporate in terms of market value.
The agreements between the four new companies transferred to Anil Ambani and his elder brother Mukesh's flagship company Reliance Industries may become the bone of contention.
Anil Ambani group firm Reliance Money on Monday joined hands with the Bombay Stock Exchange and the Bombay Bullion Association to launch the country's first organised bullion trading platform.The over-the-counter 'Bullion Spot Market' would be the first of its kind and would be operationalised within a month, the Anil Dhirubhai Ambani Group announced.
On August 21, the division bench had suggested that the two warring sides should seek the help of their mother Kokilaben Ambani to resolve the issue. The billionaire brothers are fighting over supply of natural gas from RIL's eastern offshore KG gas fields.
Anil Ambani-controlled Reliance Energy Ventures Ltd will get listed and start trading on the bourses on February 24.
While the merger will see the share of the promoter group increase by two percentage points, the move has also seen a few analysts raise concerns.
Reliance Capital, a part of the Anil Dhirubhai Ambani Group, is looking to invest Rs 2,000 crore in insurance businesses in the next three years, which would take the company's cumulative investment in the sector to Rs 4,000 crore.
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.
Anil Ambani group firm Reliance Natural Resources on Friday posted a marginal increase in its net profit for the third quarter and said it hopes to get gas from Reliance Industries' KG-D6 fields once the group's Dadri power plant begins operations.
DMRC, Reliance Infra go for arbitration.
Reliance Anil Dhirubhai Ambani Group on Friday unveiled a grand spending plan of over Rs 60,000 crore (Rs 600 billion) in Orissa, which included an investment blueprint for the world's largest pithead thermal power plant.
The MTN-Reliance Communications merger, if it gets through, will create a telecom behemoth of 115 million subscribers in 25 countries.
Anil Dhirubhai Ambani Group's market capitalisation increased to Rs 86,000 crore (Rs 860 billion) following the listing of the group company -- Reliance Communication Ventures Ltd (RCoVL).
According to Reliance Money officials, the company offers 5 gm and 8 gm coins now but plans are in the offing to launch 0.5 gm, 1 gm and 2 gm coins, said
The company bid Rs 1,104 crore for a 7.5 hectare plot in the upcoming Bandra-Kurla Complex area.
The Reliance Anil Dhirubhai Ambani Group on Wednesday threatened to sue three top officials of Mukesh Ambani's Reliance Industries for breach of trust and their inability to protect the interest of shareholders of an ADAG company.
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.
Full-fledged operations will soon start in Trivandrum, Coimbatore, Vijaywada, Vishakapatnam, Lucknow, Jaipur, Ludhiana, Chandigarh, Patna, Siliguri, Rajkot and Surat. Medybiz' current network across 10 cities include Mumbai, Delhi, Bangalore, Kolkata, Chennai and Ahmedabad said a release.
Reliance Jio to take over mobile business assets of troubled RCom at an estimated value of Rs 24,000-Rs 25,000 crore.
This is significantly higher than the government revenues of Rs 500 crore (Rs 5 billion) that ADAG has been claiming in an advertising campaign that it launched on August 17. The exercise marks the first time the directorate general of hydrocarbon, the upstream oil regulator, has worked out such an estimate. The exercise is not carried out in the normal course for oil or gas fields.
MSRDC wants to complete this process before exploring options of arbitration and termination of concession agreement signed with the RSOPL for the project.
Reliance Power's plans are to set up a 7,480-Mw project, which will be the largest gas-fired power project at a single location in the world.
Reliance-Anil Dhirubhai Ambani Group is looking for acquisitions to start its cement business much before it completes its 4,000-Mw mega power project at Sasan in eastern Madhya Pradesh, which is to provide the fly ash that is used to make cement.
"India and Indonesia can do much more in the changing world," Sharma said at a reception hosted by the India-Indonesian Chamber of Commerce last night.
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