This is a part of the company's plan to raise $13 billion debt to fund expansion of its petrochemical production capacity and gasification project for its refining facilities to improve margins.
The companies having suffered large erosion in values included Tata Motors, TCS, Tata Steel, Tata Power and Titan Industries
India on Tuesday pitched for a stake in vast oil and gas fields as well as LNG terminals in the frozen Artic of Far East Russia as it looked to import more oil from the former Soviet republic as part of a strategy to diversify its energy basket.
When, recently, Bharti Airtel announced a Rs 21,000 crore rights issue, analysts pointed out that its structure was similar to that of Reliance's issue in June 2020. One similarity is that shareholders in both companies have to pay only 25 per cent of the money on application. The rest is to be paid in two tranches. In Bharti Airtel's case, it is within 36 months; in Reliance Jio's, it is within 17 months.
The meeting will focus on how to make the crisis an opportunity for India.
While previously selling of the marketing business, possibly to another state-owned firm, was being considered, the government is now mulling on hiving off the pipelines into a separate entity and selling off a majority stake in it.
Deal to help RCom reduce debt, Sun gain subscribers in new markets
In the last couple of months, the Prime Minister has visited Japan and the US and launched the Make in India campaign to lure foreign investments into manufacturing sector.
In the last 3 months, rupee has depreciated 16% against dollar.
'If a politician asks the policeman to do something which is not correct, then why blame the politician?' 'If you do it, then you are equally liable.'
Regulators will need to allow the model to evolve to allow profits to flow, says Una Gulani.
Indian companies place orders worth $600 million for US crude, which is likely to increase by nearly $2 billion in the near future.
Officials from India's biggest private refiner recently visited Iran to chalk out the details for resumption of trade ties with Tehran.
Human memory about policy issues is short. That alone can explain why many are deliriously happy with his latest slogans and ignore seven years of poor 'doing business' climate, taxtortion, extortionate oil prices, and high dependence on babus and the big State that has kept the enterprise system stifled, observes Debashis Basu.
"Emerging fields, including artificial intelligence, machine learning, Internet of things, blockchain, and big data can take India to new heights of development, and improve the quality of life of its citizens," he said, adding for India, this is not just an industrial transformation, but a social transformation.
Govt wants domestic production so as to save foreign currency.
In December last year, Amazon invested over Rs 1,700 crore into its payments and wholesale business units in India, while in October it had infused over Rs 4,400 crore (more than USD 600 million) in its various units in India, including marketplace and food retail. Bezos last visited India in 2014 when he presented Amazon's Indian unit with a giant cheque for USD 2 billion. Since then, Amazon has pledged a further USD 3.5 billion to expand in the country and the USD 1 billion investment announced on Wednesday would take the total committed investment to USD 6.5 billion.
IT major nears $100 bn m-cap, accounts for 61% of the group's combined valuation.
Samsung is betting on core capabilities like R&D to stay prepared for the new wave of technologies like 5G and IoT (internet of things).
The Supreme Court on Wednesday termed as 'quite serious' the matter in which former Mumbai Police Commissioner Param Bir Singh has filed a plea against Maharashtra Home Minister Anil Deshmukh, but asked the Indian Police Service officer to approach the Bombay high court with his grievances.
The telecom industry is moving towards a five-plus one model.
The new entity will continue to work on technologies in areas like healthcare and education, while also looking at next-gen competencies like artificial intelligence, Blockchain, virtual and augmented reality, among others.
When contacted a spokesperson for Anil Ambani, who is engaged in a battle with elder brother Mukesh over control of Reliance empire, confirmed the news.
Manoj Sinha will retain his current role in the railways.
E-commerce pilot for wholesale begins from July in Hyderbad and Lucknow
Non-BJP chief ministers are retaliating. If the Centre can use its agencies to threaten, intimidate and jail its rivals, so can they. The fightback will get more intense, observes Shekhar Gupta.
Kishore Biyani led-Future Group has filed a caveat before the Delhi high court requesting it to be heard if any plea is filed by e-commerce major Amazon over its Rs 24,713 crore deal with Mukesh Ambani-led RIL. Anticipating a move by Amazon, which had got an interim arbitration award in its favour, putting the announced deal on hold, the Future Group firm has moved the Delhi high court.
Revenue was also boosted by robust growth in retail business which recorded a 73.6 per cent increase to Rs 11,571 crore
Hit by scams in recent times, the IPL is yet to prove a good business move for its franchisees.
The former McKinsey India head is presently on board of many big Indian conglomerates.
Troubles mounted for Mumbai police officer Sachin Waze, who has been facing heat in the murder case of businessman Mansukh Hiran, as a sessions court in Maharashtra's Thane district has refused to grant him interim bail and noted that there was prima facie evidence and material against him.
The committee said whatever benefit RIL received in terms of the migrated gas is liable to be returned to the government.
How can we compare say an upcoming Munjal University to an IIT-Mumbai?
Experts say Biyani will now become a contract manufacturer of fashion and FMCG products, with the Reliance group being one of his customers.
The old guard is still involved in broad corporate decision-making, but quite a few new business heads have started making their mark at the group
Although Walmart-Flipkart wholesale game-plan is to target about a $150 billion market out of a total pie of $700 billion in the country, the consolidation marks the end of the multi-brand dream of the American retail giant.
The network has been built by six telcos to handle high bandwidth demands of emerging technologies and applications.
Apart from digital advertising revenue, both companies want to reach out to the 'next billion' Indian customers. After all, around half of the 1.3 billion population is still not on the net and this represents a challenge as well as an opportunity.
He is followed by Nandan Nilekani and Narayan Murthy in Hurun India Philanthropy List
BP and Reliance Industries Ltd are leading the race to pick up a 25 per cent stake in Gujarat State Petronet Corporation and the Adani group's five million tonnes per annum liquefied natural gas terminal at Mundra.
