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.
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.
The Ambanis sure know how to throw a party.
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.
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.
Two brothers have begun collaborating in certain businesses.
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.
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.
The call failure rate, Jio said, has been worsening rapidly in the last few days, while augmentation of interconnection capacity is still awaited
Letter to telecom secretary alleges Jio is masquerading full-blown services in the guise of a trial; no word from Reliance.
The Adani family, led by Chairman Gautam Adani, is the most valued first-generation family business at Rs 15.44 trillion.
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.
While Ambani, 66, drew nil salary from the company since the 2020-21 fiscal year, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission. His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm.
At the heart of one of the biggest transformations in India's corporate history lies a plan to offer super-fast broadband services.
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).
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.
Once launched, RJio services will cover over 18,000 towns and over 200,000 villages across all the 22 service areas of the country
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.
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.
Data is the new oil, and intelligent data is the new petrol, said Mukesh Ambani
Data traffic generated by such tests is rivaling combined traffic other operators present for 15-20 years
Pratik Gandhi once again proves that he is an actor who can bring any character to life with his dedication to his craft and instinctive understanding of what the role requires, observes Deepa Gahlot.
Isha Ambani means business. Not only when she is doing business - she leads Reliance Retail - but also when she is not. The latter was unmistakable on Wednesday, during her eight-minute 49-second video address on the occasion of "Girls in Information and Communications Technology (ICT) Day India 2024".
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.
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.
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
Consolidated net debt of Airtel increased by 24 per cent to Rs 97,395.2 crore.
Three different invitations were sent out for the wedding and the receptions with top-run guests being sent a large red box that contained an intricate chest incorporating a mini silver temple featuring gold idols of various Hindu deities, including Lord Ganesh, Radha-Krishna, and Goddess Durga.
The pack is available for Rs 1,495 for existing users and Rs 1,494 for new users, and effectively brings down 4G data rates to Rs 50 per GB
Isha and Akash, 23, were appointed to the boards of Reliance Jio Infocomm Ltd and Reliance Retail Ventures Ltd, the company said.
While Reliance has the clout to negotiate prices with suppliers for its e-commerce, not to forget the cost advantage of integrated warehouse and supply chains, Amazon and Walmart are no pushovers, they too have deep pockets.
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.
Ambani is also the year's biggest gainer, adding USD 9.3 billion to his wealth amid the continuing success of his Reliance Jio broadband telco service.
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
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.
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.
Reliance Retail has bought a 25.8 per cent stake in Dunzo, India's leading quick commerce player, for $200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business. Dunzo has raised $240 million (about Rs 1,787 crore) in its latest funding round that was led by Reliance Retail Ventures Ltd (RRVL) - the retail arm of Reliance Industries, the two firms said in a statement. Existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital also participated in the funding round.
