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.
More than a year of Covid-19 has pushed most businesses into gloom but Reliance Industries Ltd (RIL) managed to reduce its gross debt 25 per cent, enabling it to turn towards its next phase of capital expenditure that has come in the form of a Rs 75,000-crore plan for green energy and power storage. The company managed to stay afloat during the pandemic because of its large presence in the consumer-centric businesses of retail and telecommunication (see chart: "A new Reliance"). These two businesses constituted 45 per cent of its EBITDA during FY21 from 36 per cent in FY20.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 46 per cent jump in net profit for the three months ended June on the back of bumper earnings from oil and telecom businesses. The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 17,955 crore during April-June period -- the first quarter of 2022-23 fiscal year -- from Rs 12,273 crore in the year-ago period, it said a stock exchange filing.
If IOC is not allowed to run its own affairs, then we can see it close down in the next 10 to 15 years, warns Sudhir Bisht.
Two minutes of sprint interval exercise was sufficient to elicit similar responses as 30 minutes of continuous moderate-intensity aerobic exercise.
Global oil shortage is looming large. While the tug-of-war over oil is waging across the world, Hydrogen Regeneration can be a viable option.
Astronomy Photographer of the Year, an annual exhibition that showcases the world's greatest space photography, now in its 13th year, has announced its 2021 winners.
"India has given a stern signal to its enemies by conducting surgical and air strikes. This tells us that India is changing and can take the most difficult decisions and isn't reluctant to implement them," Prime Minister Narendra Modi said on Sunday in his Independence Day address to the nation.
Ashish Narsale/Rediff.com brings you some of the innovative cars presented at the latest edition of the Consumer Electronics Show.
Prime Minister Narendra Modi on Tuesday met Microsoft co-founder and billionaire philanthropist Bill Gates on the sidelines of the climate summit here and discussed ways to further sustainable development, steps to mitigate climate change and vaccine research. The meeting between Modi and the American business magnate, whose foundation is focusing on fighting the COVID-19 pandemic, took place after the former launched the Initiative for the Resilient Island States (IRIS) for developing infrastructure of small island nations. Prime Minister Modi expressed appreciation for the work being done by the Bill and Melinda Gates Foundation in India, the Ministry of External Affairs (MEA) said in a statement.
India cannot ignore the neglect of climate finance by the developed nations, Modi asserted at G20 session
The installation work is expected to begin in October.
India believes no country would emerge victorious in the Russia-Ukraine war as all will suffer losses and there will be a "more serious" impact on developing and poor countries, Prime Minister Narendra Modi said on Monday after holding talks with German Chancellor Olaf Scholz as both leaders reiterated the need for an immediate cessation of hostilities.
Sugar-powered cars may be our future. Researchers have developed a 'revolutionary' process for converting plant sugars into hydrogen, which they claim could be used to cheaply and efficiently run vehicles. According to the researchers, the conversion process involves combining plant sugars, water and a cocktail of powerful enzymes to produce hydrogen and carbon dioxide under mild reaction conditions.
Consumers should be given freedom to make a logical choice, and manufacturers enough leeway so that they can produce what the consumer wants.
Only a few thousand chargers dot the Indian landscape, some in working condition, others not, with some held hostage to the power supply vagaries of local utilities, reports S Dinakar.
Fitch Solutions on Thursday said the new climate targets announced at the COP26 summit by Prime minister Narendra Modi pose an upside risk to its outlook for renewable growth in the country. With the new targets, it expected to see attempts to alleviate the issues regarding supply chains, manufacturing and project development that have long plagued renewable proliferation.
'If the third wave of Covid infections is as bad as the second one, the market may get very polarised with a preference for blue-chips with low volatility.'
Barclays said the refinery would, however, now need to find new sources for the energy for its internal uses.
India's jugalbandhi with coal and clean energy is coming unstuck, neither achieving adequate renewable generation nor ensuring sufficient coal-fired power in the quest to become a $5-trillion economy. Six months have elapsed since Prime Minister Narendra Modi announced an ambitious climate agenda for India at COP26 at Glasgow. The net zero emissions target by 2070 is a distant one, but there are nearer-term plans to meet 50 per cent of energy demand with renewables by 2030 by increasing capacity to 450 Gw. A cursory look at the balance sheet of India's climate progress since November reveals ponderous progress towards meeting the renewables target even as the country is scrambling to expand coal-fired generation in the face of a power crisis.
India's space scientists are developing semi-cryogenic propulsion technology using kerosene that is expected to give the country the capability to launch six-tonne class satellite, almost three times the weight its rockets can currently handle.
Members of the G-23, who had shown courage to point out the flaws in the party's functioning, have allowed themselves to be co-opted by the Family to go through the motions of a post-mortem, notes Virendra Kapoor.
North Korea is unlikely to strike first, but its response in retaliation, if attacked, could be massive even at the expense of its own destruction, says Rajaram Panda.
'Instead of fearing these foods, which never helps because it only increases cortisol levels, exercise control over your mouth, greed, portions and adopt an overall healthy lifestyle,' advises lifestyle coach Luke Coutinho.
The Hubble Space Telescope has captured an image of a glittering star cluster, resembling an opulent diamond tapestry, that contains a collection of some of the brightest stars seen in our Milky Way galaxy.
The investment climate is going well in India and the private sector should skill their workforce in the interest of its business, Chief Economic Advisor K V Subramanian said on Thursday asserting that he does not foresee any difficulty in demand and supply of the workforce. Addressing 'Times Network India Economic Conclave', Subramanian further said job creation is part of the virtuous cycle that starts with private investments flowing into the country resulting in production, growth, job creation and increase in aggregate demand which in turn leads to more investments in the economy. The investment climate is going well in India. Other things will follow, though with a lag...it is for the private sector to start recognising that it is in their own business interest that they should skill their workforce. This, in turn, will raise the average level of skills in India," he said.
India, the world's third-largest energy consumer and importer, on Wednesday warned of high oil prices hurting the nascent and fragile global economic recovery and floated an idea of long-term supply contracts that provide predictable and stable pricing. Speaking at the India Energy Forum by CERAWeek, Oil Minister Hardeep Singh Puri said there was a mismatch between demand for oil and the supplies producers such as OPEC+ were making and there was a case for raising the production. The world, he said, needs "predictable, stable and affordable" prices for it to recover back to pre-pandemic levels.
Billionaire Gautam Adani's Group on Wednesday announced the acquisition of SoftBank Group Corp's renewable power business in India for a deal value of $3.5 billion (approximately Rs 25,500 crore), to become the world's largest solar company. In a statement, Adani Green Energy Ltd, the renewable energy unit of the port-to-energy conglomerate, said it has inked share purchase agreements to buy 100 per cent of SB Energy India from SoftBank and Bharti Group. Without giving deal details, the statement said the transaction values SB Energy India at an enterprise valuation of approximately $3.5 billion, it stated. The transaction marks the largest acquisition in the renewable energy sector in India.
United States Navy scientists have successfully flown a radio-controlled airplane that runs purely on fuel derived from sea water.
Nine students of the RV College of Engineering (RVCE), Bangalore, have made running a vehicle on water a reality.
North Korea will not use nuclear weapons against other nations unless its sovereignty is threatened, its leader Kim Jong-un has said.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
Hinduja flagship company Ashok Leyland on Tuesday said it has developed hythane engines to power its buses, in association with Australia's Eden Energy.
'By taking over these reactors, it will ensure Ukraine's supply of electricity is cut off.'
Fitch Ratings has upgraded Reliance Industries Ltd's (RIL) rating to 'BBB', one notch above India's sovereign rating, as the company benefits from cash flow generation across diversified business segments and continuation of deleveraging. In a statement, Fitch said it has upgraded RIL's long-term foreign-currency issuer default rating (IDR) to 'BBB', from 'BBB-', with a negative outlook. At the same time, the agency has affirmed RIL's long-term local-currency IDR at 'BBB+' with a stable outlook.
Prime Minister Narendra Modi and his Japanese counterpart Yoshihide Suga met in Washington, DC, on Thursday to discuss ways to further cement the bilateral strategic ties ahead of the first in-person Quad meeting to be hosted by US President Joe Biden.
Ashish Narsale/Rediff.com brings you amazing gadgets and mobile devices from CES 2022.
The Bhabha Atomic Research Centre said on Tuesday the agency is developing a prototype compact high temperature reactor to produce hydrogen as substitute for fossil fuels.
Researchers at US Department of Energy's Argonne National Laboratory are working hard to chemically manipulate algae for production of hydrogen gas the next generation of renewable fuel. Scientists are trying to find a way to take that part of the enzyme hydrogenase which creates hydrogen and introduce it into the photosynthesis process. Algae have several benefits over corn in fuel production. It can be grown in a closed system almost anywhere including deserts or even roof.
KAPP-3, the country's 23rd nuclear power reactor, is a 700 MW Pressurised Heavy Water Reactor (PHWR) designed indigenously, the NPCIL said in a release. The components and equipment for the reactor have been manufactured by Indian industries, and its construction was undertaken by various Indian contractors, it said.
