Walt Disney Co and Reliance Industries on Wednesday announced signing of binding pacts to merge their media operations in India to create a Rs 70,000 crore behemoth. Reliance and its affiliates will hold 63.16 per cent in the combined entity while Disney will hold the remaining 36.84 per cent, the companies said in a statement.
Mukesh Ambani remains the country's wealthiest promoter as his stake in Reliance is now worth Rs 3.25 trillion!
RIL's bet on burgeoning consumer base and foray into new businesses such as telecom, retail, and digital services vastly expanded its business
American technology giant Apple's chief executive Tim Cook on Wednesday met ICICI Bank's top brass at the country's largest private sector lender's corporate headquarters in Mumbai.
Prime Minister Narendra Modi said on Friday that the combination of technology and talent will be a guarantee for a bright future for the world.
The US-India Business Council (USIBC) in coordination with the Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce & Industry (Ficci) is preparing a list of invitees for the business summit to be addressed by visiting US President Barack Obama.
Bollywood glamour will meet sporting world to kick off the third Indian Super League football tournament, in Guwahati, on October 1.
It is said he worked towards losing weight in natural and safe ways.
The country's top 10 firms lost over Rs 63,000 crore (Rs 630 billion) from their market capitalisation last week, with Reliance Industries alone accounting for over one-third of the value erosion of the premier club.
Ambani said, in the telecom space, the focus will be on debt reduction, and the virtual merger did away with the need for major capex and will help towards this
India's cash-rich promoters are not the same as the wealthiest. For example, Mukesh Ambani is the richest Indian based on his stake in Reliance Industries, followed by Premji, the Adani family of the Adani group, and Radhakishan Damani of Avenue Supermarts.
The Prayagraj airport in India is experiencing a surge in air traffic due to the Maha Kumbh, a major religious festival. The airport is handling an average of 40 non-scheduled charters and private jets daily, with figures reaching 70 on weekends. This is in addition to the average 148 scheduled commercial passenger aircraft operating daily. The airport recently received a contingent of about 180 politicians from Rajasthan and has seen corporate bigwigs like the Ambani brothers, Gautam Adani, and Pawan Munjal pass through. The airport has also hosted four international flights since the beginning of the Maha Kumbh, including a flight carrying Laurene Powell Jobs, the wife of Apple co-founder Steve Jobs. The airport is currently undergoing an upgrade and expansion, and officials are looking forward to the government's plans to integrate Prayagraj with the airports at Kashi and Ayodhya to promote tourism in the region.
Tata Steel, others sell assets abroad after taking massive impairments.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on Forbes' latest Global 2000 list of public companies worldwide.
Vipul Ambani, a runner who participated in city marathons, never wore his last name on his sleeve, was easy-going, mild-mannered and always smiling. Yet, the question that begs to be asked is why would he join a luxury jewellery company, says Pavan Lall.
The RIL-RCOM deal is an indication of telecom sector's future. As the mobile subscriber numbers plateau, telcos need to look at alternate stream of revenues, and data services will be the key to their growth.
The Delhi assembly results have underscored that a section of Arvind Kejriwal's committed supporters abandoned him because they were let down by his refusal to take a stand on crucial issues that impinge on the security and Constitutionally enshrined rights of the people, notes Nilanjan Mukhopadhyay.
Billionaire Mukesh Ambani's four-year-old telecom venture Reliance Jio has been ranked the fifth strongest brand globally behind the likes of Ferrari and Coca-Cola. The Brand Finance's Global 500 ranking of the strongest brands globally, which determined the relative strength of brands, is topped by WeChat, according to its annual report on most valuable and strongest global brands.
Industrial output growth rate remained flat in April.
Some of them have ambitious plans to fight the slowdown, while some would seek to revive their image.
Former Cricket Board chief Sharad Pawar's intervention in the BCCI's dispute with International Management Group had come after Mumbai Indians' franchise owner and Reliance Industries Chairman Mukesh Ambani wrote to him on the matter.
Bharti Airtel chairman Sunil Mittal on Thursday said he had reached out to Vodafone's Nick Read after bold telecom reforms were announced by the government and will also speak to RIL's Mukesh Ambani, as the telecom czar vowed to take the lead in bringing the industry together to unleash India's telecom dream. Mittal exhorted the industry to collaborate in areas such as infrastructure sharing to reduce costs but vehemently ruled out possibility of any cartelisation among players. Amid reports of its potential tie-ups with handset makers to counter Jio's upcoming ultra low-cost smartphone, Mittal said Airtel is in a state of "readiness" on an affordable smartphone "should a need arise".
The group is set to become the second largest Indian corporate in terms of market value.
Indian petrochemicals giant Reliance Industries plans to raise its annual petrochemicals capacity by two million tonnes over the next three to five years, its chairman Mukesh Ambani told shareholders at the annual general meeting.
Maharashtra Deputy Chief Minister Ajit Pawar, state unit NCP chief Jayant Patil, and Shiv Sena MP Sanjay Raut separately met NCP supremo Sharad Pawar in Delhi on Sunday evening in view of former Mumbai police chief Param Bir Singh's allegations of corruption against state Home Minister Anil Deshmukh.
At the start of the auction on Sunday, Punjab Kings had the highest funds at Rs 110.5 crore, which decreased to Rs 10.9 crore before Day 2 on Monday.
Asked whether he will join politics, Ambani replied in the negative, saying "I am not made for politics."
The statement came a day after Bharti Airtel and Vodafone Idea Ltd announced a hike in call and data charges from next month.
The long-overdue consolidation makes indebted RCom an even more attractive partner for a soon-to-launch upstart led by older brother Mukesh.
India's 100 top billionaires have seen their fortunes increase by Rs 12,97,822 crore since March last year when the Covid-19 pandemic hit the country and this amount is enough to give 13.8 crore poorest Indians a cheque for Rs 94,045 each.
VCs have been especially bullish about India.
Radhakishan S Damani, investor and promoter of the D-Mart supermarket chain, has broken into the elite club of the top 100 global billionaires. Damani, who grew up in a single-room apartment in Mumbai, is now ranked 98th on the Bloomberg Billionaires Index with $19.2 billion as his net worth. The index is a daily ranking of the world's richest people. The other Indians on the top 100 rich list ahead of Damani are Mukesh Ambani, Gautam Adani, Azim Premji, Shiv Nadar, and Lakshmi Mittal.
With the latest spectrum acquisition, the telecom venture would be the holder of the largest quantum of liberalised spectrum.
Prime Minister Narendra Modi on Thursday launched the ambitious 'Make in India' campaign to make India a global manufacturing hub, create jobs and boost economic growth.
Public-interest litigators Arundhati Katju and Menaka Guruswamy, who spearheaded a historic legal battle for LGBTQ rights in India, along with Reliance Industries Chairman Mukesh Ambani are among the Indians who have been named by TIME magazine in its prestigious list of the 100 most influential people in the world. The list also includes Indian-American comedian and TV host Hasan Minhaj.
Prime Minister Manmohan Singh is likely to discuss the impact of global demand contraction on Indian economy with industry leaders in New Delhi on Saturday, ahead of the G-20 summit in London next week.
A Reliance Industries spokesman denied reports that its chairman Mukesh Ambani is bidding for a 51 per cent stake in Liverpool football club.
Reliance Industries Ltd on Friday reported a 27 per cent jump in its September quarter net profit as earnings from the oil and gas business rebounded, and a pick-up in fashion and grocery helped boost retail revenues. The oil-to-retail-to-telecom conglomerate's consolidated net profit of Rs 17,394 crore, or Rs 25.71 per share, in July-September - the second quarter of the current 2023-24 fiscal - was 27.3 per cent higher than Rs 13,656 crore, or Rs 19.92 a share, earning a year back, the company said in a statement. The net profit was also higher quarter-on-quarter compared to Rs 16,011 crore earnings in the preceding three months ended June 30.
As many as 3.2 lakh shareholders attended the meeting on the newly-minted JioMeet platform from 550 cities in 48 countries.
