Hinduja Group of Companies (India) Chairman Ashok Hinduja as well as Essar head Shashi Ruia and its CEO Prashant Ruia were present.
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.
Reliance Industries (RIL) has reset its battery pack production timeline, shifting it from 2023 earlier to 2024, details shared in the oil-to-telecom conglomerate's latest annual report suggest. In the FY23 annual report released on Sunday, the company has listed the start of battery pack production in 2024. A year ago, at the company's annual general meeting (AGM), Mukesh Ambani, chairman and managing director of RIL, had said, "We aim to start production of battery packs by 2023 and scale up to a fully integrated 5 GWh annual cell-to-pack manufacturing facility by 2024."
The government on Monday approved the proposals of Reliance Industries, Wipro, Hewlett Packard and Biocon to set up Special Economic Zones -- a move that is expected to generate at least 67,000 jobs by March 2006.
Chief executive officers (CEOs) across sectors have expressed intentions to expand capacities, expecting the government's target to invest a record Rs 11.11 trillion on infrastructure development will act as a catalyst for a jump in consumer demand. "With the government planning a capex of Rs 11.11 trillion, private sector investment will come in a big way. Companies will be preparing for it right from today," H M Bangur, chairman of Shree Cement, told Business Standard. For the past few years, the investment scene in India has been dominated by government capital expenditures; private investments in the manufacturing sector have remained muted.
Saudi Aramco chairman and head of the Kingdom's cash-rich wealth fund PIF Yasir Othman Al-Rumayyan will join the board of Reliance Industries Ltd as an independent director in a precursor to a $15 billion deal. Reliance chairman and Asia's richest man Mukesh Ambani, who had two years back disclosed the talks to sell a 20 per cent stake in the company's oil-to-chemical unit to Saudi Aramco, announced the appointment of Al-Rumayyan at the company's annual meeting of shareholders. Harvard educated Al-Rumayyan, 51, will replace Yogendra P Trivedi, 92, who has expressed a desire to retire, Ambani said. On the sale of a 20 per cent stake in the O2C business, he said the deal is likely to conclude this year.
Investors' wealth jumped Rs 13.78 lakh crore on Monday as the benchmark equity index Sensex hit its lifetime high after exit polls predicted a massive win for the BJP-led NDA in the Lok Sabha polls. The 30-share BSE Sensex jumped 2,777.58 points or 3.75 per cent to hit a record peak of 76,738.89 in early trade. The benchmark finally ended at 76,468.78, registering a sharp rally of 2,507.47 points or 3.39 per cent.
Intel Capital is the 12th company to join the list of marquee firms who have recently invested in Jio Platforms, taking the total investment amount to Rs 1,17,588.45 crore.
At the annual general meeting of Reliance Industries earlier this week, Isha Ambani, director at Reliance Retail Ventures, announced that the company is foraying into the fast-moving consumer goods (FMCG) space. But analysts say that only time will tell if this will lead to a disruption in India's FMCG market. While Reliance Retail's initial strategy is to take its own brands, which it currently sells at its own supermarkets and hypermarkets, to general trade, it is also looking at acquisitions.
Siddharth Roy Kapur's RKF aims to raise around $50 million by offering up to a 50 per cent stake in the company.
Could it be about clout? Given its size and influence, RIL doesn't need the media for that, notes Vanita Kohli-Khandekhar.
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.
'There is no ambiguity in Dhirubhai's legacy that the chairman and managing director is the final authority on all matters concerning Reliance," he said in an e-mail to RIL employees.
Industry experts believe that this deal will positively impact the Indian film industry, which is struggling with fewer movie releases.
'The steel industry expects the government to decide on safeguard measures from dumping post-Budget'
Top business house Reliance Industries has given its chief Mukesh Ambani, the country's richest person and presumably top-paid executive, a hefty pay hike of about 45 per cent to take his annual remuneration to over $10 million. Mukesh Ambani, chairman and managing director of Reliance Industries, got a total payout of Rs 44.02 crore (Rs 440 million) in financial year 2007-08, marking an increase of about Rs 13.5 crore (Rs 135 million) from the previous fiscal.
The younger Ambani sibling, Anil, on Monday sent an emotional farewell message to all the employees of Reliance Industries, from where he stepped down as vice chairman and managing director.
The role and responsibility of Anil Ambani as vice chairman and managing director of Reliance Industries appears to have become another source of acrimony between him and his elder brother Mukesh Ambani
Anmol, who has a degree from Warwick Business School in the UK, has also been visiting branches and meeting employees across businesses in different regions to get exposure and detailed understanding of businesses at grass-root level in the past two years
The Reliance Industries Ltd board, under the chairmanship of Mukesh Ambani, on Monday fully supported the buyback of shares brushing aside the criticism and objections raised by vice-chairman Anil Ambani
Mukesh Ambani of Reliance Industries, Nandan Mohan Nilekani of Infosys Technologies and Ratan Tata of the Tata group - have figured in this year's list of World's 50 most respected business leaders.
Officials of Reliance Jio Infocomm claimed to have achieved broadband speeds on their networks that are 10-12 times faster than 3G services.
At the heart of one of the biggest transformations in India's corporate history lies a plan to offer super-fast broadband services.
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.
'There's significant interest from both existing and new sponsors who recognise the value of associating with Olympic athletes.'
'The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there.'
The board had approved a salary of Rs 38.75 crore for the RIL chairman
RRVL will make an open offer to acquire up to an additional 2.17 crore equity shares of Just Dial, representing 26 per cent stake, in accordance with Sebi Takeover Regulations, a regulatory filing said.
The company will unfold its business plans going forward even as shareholders are seeking answers to the performance of the company's oil and gas exploration and production business.
Maruti, Axis Bank, HDFC, ICICI Bank and Bajaj Finance also finished with gains. NSE Nifty rallied 203.65 points to 11,095.25.
Much of the discussion is happening at a "family level, not a corporate level". That means it is an Ambani or a Goenka in direct talks with Johar.
RIL, however, remains miles ahead of TCS in other financial parameters such as total revenue, operating profit, net worth, assets, and market capitalisation.
Market regulator Securities and Exchange Board of India on Wednesday said it will take appropriate action on complaints filed by Reliance Industries' vice chairman and managing director Anil Ambani
BSES Ltd became a part of the Reliance Group with Anil Ambani being appointed chairman of the Mumbai-based power utility.\n\n\n\n
