With RIL's market capitalisation crossing the Rs 11-trillion mark on Friday, Ambani is ahead of Google co-founders Larry Page and Sergey Brin, the 10th and 11th richest, respectively, and behind Zara founder Amancio Ortega on the Forbes Real-time Billionaires List.
Globally China, Japan, Russia and South Korea and the US are the top FTTH markets.
Diverse marquee investors are becoming long-term shareholders of Jio Platforms because of a unique set of technologies and platforms under one entity.
The Jio-Bharti battle will not just be limited to mobile telephony but will extend to the fibre to home space too.
Reliance Industries Ltd's focus on the next hypergrowth opportunities in clean tech and its path to decarbonisation has the potential to spur re-rating, raises clarity on investment cycles and reduces investor worry, brokerages said. RIL chairman Mukesh Ambani at the company's 'Green AGM' on Thursday committed Rs 75,000 crore over the next three years to set up an integrated Green Energy Giga Complex across 5,000 acres in Jamnagar, Gujarat which will contain four giga factories. The complex, which would be one of the world's largest renewable manufacturing facilities, would have an integrated solar photovoltaic module factory, an energy storage battery factory, electrolyser manufacturing for hydrogen production, and manufacturing of fuel cells so that hydrogen can be used in transportation.
Shah Rukh Khan, Deepika Padukone, Ranbir Kapoor and Alia Bhatt spent Saturday morning listening to Prime Minister Narendra D Modi when the PM traveled to Mumbai to address the 141st International Olympic Committee session at the Jio World Centre in north west Mumbai.
Shares of Mukesh Ambani-owned Reliance Industries Limited (RIL) rose nearly 1 per cent on Tuesday, hitting an intraday high of Rs 2,986.05 per share, after most brokerages reacted positively to the company's March quarter (Q4FY24) results. The bullish outlook stems from Reliance Jio's potential tariff hikes, given the competitive landscape, along with slow but steady improvement in the oil-to-chemical (O2C) vertical.
Richest Indian Mukesh Ambani on Tuesday mentioned about leadership transition at his energy-to-retail conglomerate, saying he wants the process to be accelerated with seniors, including him, yielding to the younger generation. Ambani, 64, who has previously not spoken about succession plans at the country's most valuable company, said Reliance is "now in the process of effecting a momentous leadership transition." Ambani has three children -- twins Akash and Isha, and Anant.
Reliance Industries on Friday announced the sale of 2.32 per cent stake in its digital unit to US-based Vista Equity Partners for Rs 11,367 crore, the third deal in a little over two weeks that will inject a combined Rs 60,596.37 crore in the oil-to-telecom conglomerate to help it pare debt. The US-based private equity firm will buy a stake in Jio Platforms, which houses the country's youngest but biggest telecom firm Jio, at an equity value of Rs 4.91 crore and an enterprise value of Rs 5.16 crore.
The effective cost of the fully made-in-India phone will be zero, as against the minimum Rs 3-4.5k cost for a smartphone, Ambani said.
As per the latest data released by Telecom Regulatory Authority of India (TRAI), Vodafone Idea -- born last year from the merger of older operators Vodafone India and Idea Cellular -- continues to be the largest operator with 38.75 crore consumers and 33.36 per cent market share in the wireless segment as on May 31, 2019.
Jio announces an array of communication and entertainment devices.
Its plans, to cut tariffs by 40% or offer more data, comes bundled with 1 GB high speed data for 28 days with unlimited voice thrown in.
Competitive price will face stiff challenge from incumbents such as DD Free Dish
As part of its expansion plans, Jio has announced the roll-out of Internet of Things (IoT) services in association with Samsung, which will help consumers and enterprises.
Reliance Industries Ltd, whose offering of rock-bottom tariffs shook up the telecom industry, is looking to repeat the feat in the green energy business, where its billionaire chairman Mukesh Ambani sees promise to outshine all existing growth engines in 5-7 years. Having pledged Rs 6 lakh crore on green energy, Ambani says RIL will scale up investments in this business which will start going live in the next 12 months. "Over the next 12 months our investments across the Green Energy value chain will gradually start going live, scaling up over the next couple of years," Ambani, chairman and managing director of RIL, said in the company's latest annual report.
Reliance Jio accuses COAI of malafide intention.
The incumbent operators faced the onslaught of free offers and cheaper rates from Jio.
India is likely to become a $40 trillion economy by 2047 -- a 13-fold jump from its current size -- driven primarily by a clean energy revolution and digitalisation, billionaire Mukesh Ambani said on Tuesday. Ambani's estimate for the Indian economy, currently the fifth largest in the world behind only the US, China, Japan and Germany, is more optimistic than Asia's richest man Gautam Adani, who last week stated that India will become a $30 trillion economy by 2050 on back of rising consumption and socio-economic reforms. "From a 3 trillion-dollar economy, India will grow to become a 40 trillion-dollar economy by 2047, ranking among the top three economies of the world," Ambani said at the 10th convocation of Pandit Deendayal Energy University in Gandhinagar.
Bengal pacer Mukesh Kumar has set his sights on a long stint with the Indian team.
Bollywood kept its date with the Ambanis when folks arrived at the launch of Isha Ambani's Jio World Plaza, Mumbai's latest retail destination.
Supreme Court had asked the government to issue RCom a NoC for spectrum sale to Reliance Jio Infocomm by December 9 if it furnishes a corporate guarantee of Rs 1,400 crore
Meanwhile, the grand pre-shaadi celebrations continue.
Mukesh Ambani's Reliance group has struck acquisition deals worth $4.2 billion with a dozen companies in just two years to expand its retail business. The latest purchase was of a majority stake in Justdial for Rs 3,497 crore. Elaborating on his acquisition strategy a few weeks ago during the AGM, Ambani stated that one of the key planks would be to acquire businesses that enhanced Reliance's offerings and experiences to customers and that they would be both physical and digital.
According to documents accessed by Business Standard, RIL increased its direct stake in Jio to 98.9 per cent as on March this year by pumping more capital into the company.
In the third infrastructure sharing agreement between firms run by brothers Mukesh and Anil Ambani, Reliance Industries' telecom arm has agreed to use Reliance Communication Ltd's intra-city fibre network to roll out 4G services.
Says, Jio unlikely to gain 2% revenue market share in 2017
Its trajectory in telecom is well known but now it is pushing for a similar leap into the ranks of the top players in its other businesses: media and entertainment, e-commerce, a series of online businesses ranging from health to education, and retail.
bp had last year bought 49 per cent stake in the 1,400-odd petrol pumps and 31 aviation turbine fuel stations owned by RIL for $1 billion.
With the latest spectrum acquisition, the telecom venture would be the holder of the largest quantum of liberalised spectrum.
Billionaire Mukesh Ambani on Monday pressed for bridging the digital divide "both among nations and within nations", saying connectivity and communications have become the fundamental rights of every person. Also, there is a need to bring back the economies around the globe. Speaking at the Qatar Economic Forum, he said it is difficult to imagine what India would have been without the 4G telecom network during the pandemic. "The digital divide must be bridged, both among nations and within nations.
Reliance group firm employee under the scheme can invite 10 people to buy Jio's 4G sim and LYF Handset.
From January 1, all these iPhone users will get the Rs 1,499 plan completely free for 1 year, which equals value worth Rs 18,000
The amount from securitisation has been utilised to repay rupee debt, saving significant interest costs for the company.
The list of guests included celebrities from across the globe, politicians, the who's who of Hindi and south Indian cinema world and almost all the top cricketers of the country.
The Adani family, led by Chairman Gautam Adani, is the most valued first-generation family business at Rs 15.44 trillion.
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.
Speaking at a fireside chat with Microsoft CEO Satya Nadella, he said the big change driving this transformation was the deepening of mobile networks which were working at a much faster pace than before.
RIL is setting up infrastructure for a full-fledged horizontal e-commerce offering - internally called the New Commerce - to simultaneously launch pan-India by October-November.
A typical consumer will have to opt for Jio's Rs 499 plan, which is a steep 2.5 times more than what the average user pays at present.
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