Anil Dhirubhai Ambani Group stocks plummeted on Wednesday after ADAG chairman Anil Ambani reportedly met Telecom Minister Kapil Sibal.
Reliance Industries' (RIL's) oil-to-chemicals (O2C) business is likely to remain under pressure for the remaining of the current financial year, according to analysts and company executives. "Management guides for softness for the next couple of quarters in both retail and O2C businesses," analysts at BOB Capital Markets noted in an after-results report on RIL. For the July-September quarter (Q2) of 2024-25 (FY25), RIL's O2C business reported a 5.1 per cent year-on-year increase in revenue to Rs 1.55 trillion.
Mukesh Ambani has resigned from the board of his group's telecom arm, Reliance Jio and handed over the reins of the company to elder son Akash, a step seen as succession planning by the 65-year old billionaire. In a stock exchange filing, Reliance Jio Infocomm said the company's board at a meeting on June 27, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company." This comes after his father resigned with effect from close of working hours on June 27, it said.
Having created businesses ranging from world's largest single-location oil refining complex to nation's largest mobile network operators in just few years, billionaire Mukesh Ambani says his group Reliance Industries Ltd will never be complacent and will grow to be among the top 10 business conglomerates of the world. Addressing employees on Reliance Family Day - the birthday of the group's founder Dhirubhai Ambani, he said Reliance is now aiming to consolidate a place among global leaders in digital data platforms and AI adoption. "Today, the domestic and global environments for business are changing very fast.
Branded Mobi-Retail, this service will be offered to the 35 million subscribers of Reliance Communications, who will be able to use their handsets to buy over 100,000 products ranging from fresh vegetables to groceries, readymade garments, toys etc.
In the previous fiscal year, he drew a Rs 15 crore salary from the company -- the same as in the previous 11 years.
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.
Shareholders' demand list included from providing ABCD (appreciation, bonus, cash & dividend) security to making pepper spray.
ADAG group company Reliance Energy Ltd is the second-lowest bidder for the Rs 16,000 crore (Rs 160 billion) project, after Lanco. However, with the Lanco bid becoming invalid, REL could claim to be the lowest bidder.
Narendra Modi is India's most successful prime minister and the greatest global leader of current generation, billionaire Mukesh Ambani said on Wednesday as he flaunted his group Reliance Industries' Gujarati heritage and its over USD 150 billion (Rs 12 lakh crore) investment in last 10 years.
Anil Dhirubhai Ambani Group (ADAG) Chairman Anil Ambani has taken a huge cut in his total remuneration from his four main companies in 2011-12 at about Rs 5.5 crore (Rs 55 million), lower by nearly two-third from the previous year.
Petroleum Ministry has sought help from Law Ministry in resolving the Ambani demerger issue over the production of gas from KG fields.
Anil Ambani, chairman of the Anil Dhirubhai Ambani Group and a former Rajya Sabha Member of Parliament, was made to wait for over an hour by the Murli Manohar Joshi-led Public Accounts Committee before he was called in for intensive questioning on the 2G spectrum issue. He pleaded that since the name of his company and some key officials figure in the chargesheet filed by the Central Bureau of Investigation on the massive scam, he would not like to say anything.
The annual day function at Dhirubhai Ambani International School in Mumbai turned out to be a star-studded event, as film folk stepped out to applaud the superstars in their own homes.
Dubai Reliance Capital, the financial services arm of Anil Dhirubhai Ambani Group, plans to expand its operations in the Middle East, chief executive Sam Ghosh has said.
"I want to put India on the global health care map. My team and I want to be a very well established medical facility where people can come from abroad and Indians don't need to go abroad for. I want to make sure that the treatment we have to offer is given to people of every economic strata. That is my wish for this hospital," says Tina Ambani, chairperson of the multi-specialty Kokilaben Dhirubhai Ambani Hospital and Research Center in Mumbai.
Former BJP president makes the claim at function to release Marathi translation of MJ Akbar's book
Anil Ambani and other promoters consolidated their stakes in REL to 52%.
There's talk that the Reliance Anil Dhirubhai Ambani Group is eyeing a minority stake in the carrier. It's also possible that private equity players like Texas Pacific Group may want a slice of the low-cost carrier's equity.
The Reliance Anil Dhirubhai Ambani Group (R-ADAG) has chalked out a roadmap for its online and offline video rental business - BigFlicks - which works on the lines of the US video rental distribution network - Blockbuster. The group plans to raise the number of such stores to 500 across 35-40 cities by April 2009 from the current 22 stores in 6 cities.The retail video service had a soft launch last year following the video-on-demand portal BigFlicks' launch in August 2007.
The Cabinet Committee on Economic Affairs on Friday cleared award of four Coal Bed Methane (CBM) blocks to an Anil Dhirubhai Ambani Group-led consortium and three blocks to a consortium led by Australia's Arrow Energy.
RCom's employee cost declined by 20.7 per cent.
A day after the Anil Dhirubhai Ambani Group declared it will be interested in buying out the Dabhol project whenever it is up for sale, Petroleum Minister Murli Deora categorically denied the Central government was considering any such proposal.
In Mumbai, Reliance Health Venture has already acquired the Mandke hospital, which will be converted into a 650-bed super specialty hospital with six divisions.
Top Bollywood stars made appearances in top industrialist's son's wedding last weekend.
The Mayawati-led Uttar Pradesh Cabinet decided to refer the 1,200-acre SEZ proposal to New Delhi as it violated the contiguity norms laid down by it.
Reliance Communications will invest $60 million in Saudi Arabia to connect the kingdom and other Gulf states with 53 countries around the globe on its fibre optic network and provide value-added services to its network users. \n\n
Nita Ambani, wife of Reliance Industries Chairman Mukesh Ambani, has been recommended for appointment as a director on the board of the company.
ADAG slots Rs 1,200 cr for wind power plants
Kicking off the process for a possible settlement of ownership issues within the Reliance empire, Kokilaben, widow of Dhirubhai Ambani, has started consultations separately with her warring sons
Anil Dhirubhai Ambani group chairman Anil Ambani on Saturday committed to set up a Special Economic Zone in Chennai and also invest Rs 12,000 crore for a 1,000 MW power plant, IT Park and desalination project.
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