Das will 'mentor the Jio Division of Reliance Retail', the Reliance Industries head said.
Global investment management firm Bernstein has pegged the enterprise valuation of Reliance Industries (RIL)'s 85 per cent stake in Reliance Retail at $111 billion, while valuing the Mukesh Ambani-led company's 66.5 per cent stake in telecom and digital platform arm Reliance Jio at $88 billion. Reliance Industries had earlier planned to list both its subsidiaries to unlock value for its shareholders but hadn't fixed any timeline. The report said that Reliance Retail had raised $6 billion by diluting a 10.1 per cent stake, while Jio Platforms raised $20 billion from investors by selling 33 per cent in 2020.
'As the world goes digital, we cannot afford to be left behind.'
Paramount Global has agreed to sell its 13 per cent stake in its Indian TV business to Reliance Industries for Rs 4,286 crore, the Indian firm said on Thursday. In a stock exchange filing, Reliance said it has signed a binding agreement with two subsidiaries of Paramount Global to acquire 13.01 per cent equity stake of Viacom 18 Media Private Limited held by Paramount Global. Similarly, in a filing on the US Securities and Exchange Commission (SEC), Paramount Global said the closing of the transaction is subject to the satisfaction of certain customary conditions, including receipt of applicable regulatory approvals, as well as the completion of a previously announced joint venture involving Reliance, Viacom18 and Star Disney.
IPL: Comeback-man Pant the highlight as Delhi Capitals take on Punjab Kings
Mittal said that overall, he expected that by March 2018, the "dust will settle down" for the entire industry.
Analysts expect RIL to report consolidated revenue of Rs 1.40 trillion and 10 analysts expect RIL's net income to be Rs 9,629 crore
It has suggested OTTs be subject to the same security requirements that a traditional TSP has to adhere to.
India's most valuable company Reliance Industries was once fined for producing more than its licensed capacity, its owner and richest Indian Mukesh Ambani said on Monday as he pitched for a push to manufacturing to make the country 'Aatmanirbhar' or self-reliant.
Defending champions Chennai Super Kings clash against Gujarat Titans in a repeat of last season's final in the IPL 2024 match in Chennai on Tuesday.
Reliance Industries Ltd on Friday reported an 11 per cent drop in its June quarter net profit largely due to weak oil-to-chemical (O2C) vertical and higher interest and depreciation cost. Net profit was Rs 16,011 crore, or Rs 23.66 per share, in April-June - the first quarter of current 2023-24 fiscal year - compared with Rs 17,955 crore, or Rs 26.54 a share, earning a year back, according to a company's stock exchange filing.
The Harvard alum has known the Yale alum for ages, but hit it off recently.
Thanks to a $5.7 billion deal with Facebook, a Rs 53,125 crore rights issue and more stake sale to companies such as Saudi Aramco, the target is likely to be achieved by December.
Explosive left-hander Rinku Singh has emerged a "contender" for the finisher's spot in India's T20 World Cup squad, according to Ashish Nehra. The former India pacer though believes that the batter will face stiff challenge for the position from fellow-cricketers.
Reliance earned $11.50 for every barrel of crude that it processed during the last three months of the calendar year - almost 60 per cent more than a year earlier.
The company will wait for sizeable user base for better valuation.
DoT and the company have not done anything that breached the guidelines mentioned in the notice inviting applications for the auction of the BWA spectrum in 2010, it stated in a reply to CAG's draft audit report.
For existing customers, he announced that the current benefits will continue under a new tariff plan for another 12 months by payment of Rs 303 per month and a one-time joining fee of Rs 99.
Ambani's $15 bn bet will upend Indian telecom
Billionaire Mukesh Ambani on Friday backed the proposed data privacy and cryptocurrency bills, saying India is putting in place the most forward-looking policies and regulations. Ambani, who has been a votary of Indians owning and controlling their own data and the nation drafting strict rules around how digital information is stored and shared, said nations have the right to build and protect strategic digital infrastructure. Stating that data is the 'new oil', he said every citizen's right to privacy has to be safeguarded. "India is putting in place the most forward-looking policies and regulations," he said at the Infinity Forum, hosted by International Financial Services Centres Authority (IFSCA).
Complimenting West Bengal government, Mukesh Ambani said, "We have got all the approvals in a time-bound manner."
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.
COAI sid the huge volume of traffic from RJio will pull down the weighted average voice realisation for other operators from 30-40 paise to 22-25 paise per minute or lower
The company is offering its own devices under the brand name Lyf along with other brands to employees at a 25 per cent discount.
Gearing up for its pan-India 4G services launch in coming months, Reliance Jio Infocomm has approached the Department of Telecom for a network test conducted along with security agencies.
Letter to telecom secretary alleges Jio is masquerading full-blown services in the guise of a trial; no word from Reliance.
Two brothers have begun collaborating in certain businesses.
The call failure rate, Jio said, has been worsening rapidly in the last few days, while augmentation of interconnection capacity is still awaited
If he bets big, billionaire Mukesh Ambani will emerge from this week's airwave auction armed with spectrum that could make his Reliance Industries Ltd a formidable rival to market leaders Bharti Airtel Ltd and Vodafone Group.
Given the fragmented nature of the domestic cable TV market and the need for last-mile connectivity, RIL, said sources, would have to do more to achieve its target of reaching 20 million homes and 15 million business establishments with its broadband services across 1,600 towns in the next few years.
Analysts have given a thumbs up to the Reliance Industries (RIL) and Walt Disney Co. (Disney) proposed a joint venture (JV). The stock of the Mukesh Ambani-controlled company gained nearly 1.5 per cent on Thursday to Rs 2,952 levels as compared to the S&P BSE Sensex that traded marginally weak, down 0.2 per cent to 72,172 levels in intra-day trades.
Once launched, RJio services will cover over 18,000 towns and over 200,000 villages across all the 22 service areas of the country
At the heart of one of the biggest transformations in India's corporate history lies a plan to offer super-fast broadband services.
Apply the 'insurgent' tests on what Ambani, Ramdev and Agarwal have done of late, and you will start seeing the similarities rather than obvious differences of industry, upbringing or social station, says Shailesh Dobhal.
Reliance joins a number of large companies, including the Essar and Adani groups, which are raising loans abroad as interest rates in India remain high.
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.
Data traffic generated by such tests is rivaling combined traffic other operators present for 15-20 years
Data is the new oil, and intelligent data is the new petrol, said Mukesh Ambani
Anant Ambani, the youngest son of billionaire Mukesh Ambani, will wed Radhika Merchant, daughter of industrialist Viren Merchant, the family announced on Thursday. The 'roka' or engagement ceremony of Radhika, daughter of Shaila and Viren Merchant, and Anant was performed at the Shrinathji Temple at Nathdwara in Rajasthan on Thursday in the presence of family members and friends. A statement issued by the family said the young couple after the engagement spent the day at the temple seeking Lord Shrinathji's blessings for their upcoming union.
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