Mukesh Ambani's AGM speeches indicate a trail of forgotten promises and projects that have not ended up as envisaged.
Reliance Industries (RIL's) annual report released on Sunday highlighted the company's focus on new energy solutions, with chairman and managing director (MD) Mukesh Ambani stating that the age of fossil fuels will not continue much longer. RIL has sought shareholders' approval to give Ambani another five-year term as MD till 2029 at nil salary. The recently demerged Jio Financial Services, which "will leverage the prowess of digital and retail businesses", was expected to be listed soon.
Das will 'mentor the Jio Division of Reliance Retail', the Reliance Industries head said.
After some initial take off turbulence, Gopinath is now actively steering the air cargo business steadily with equity infusion from Reliance Industries.
British Petroleum chairman Sir John Browne is likely to visit India next month to explore oil and gas opportunities in Asia's third largest economy.
The Reliance Industries vice-chairman would be supported by Samajwadi Party.
Corporate India is busy restructuring - through mergers, demergers and splits. That seems to be the new normal as CXOs and boards brainstorm on how to create assets and value. The pitch rose significantly during the third quarter of this financial year (FY24), translating into $32.9-billion worth of such deals - the highest quarterly total since the HDFC Bank-HDFC merger announced in FY22 Q2.
Public Enterprise Selection Board will interview Ravi Narayan Bastia, the man who discovered India's biggest gas field, and nine others who have applied for the top job for the at ONGC, on October 19, official sources said.
The licensee will have to ensure that at least half the areas under rural telecom exchanges gets the required street level coverage.
The younger Ambani sibling had a two-hour meeting with K V Kamath, chief of ICICI Bank and a friend of the family, who is said to be working out a formula to end the feud at the behest of Kokilaben Ambani.
A report, by DeGoyler and MacNaughton, has put a question mark on the future production from the five ONGC discoveries.
Ramping up e-commerce operations and going beyond its current strongholds are key challenges for the grocery chain in its battle with Mukesh Ambani's retail behemoth.
The next spectrum auction will be held in late February 2024 and the reserve price for most bands will remain the same as the 2022 auction, department of telecommunications (DoT) officials have said. The government expects operators to go for low bands beginning in 600 megahertz (MHz), licences for many of which are lapsing soon. Back in September 2021, the government had decided that spectrum auctions should be held annually.
For last two months, much of the discussion, a large part of due diligence, agreement negotiations, etc, have happened remotely.
An improved showing of mutual funds (MFs) is helping the industry attract distribution talent at a brisk pace. The industry has onboarded a net of 11,600 individual distributors in the first seven months of 2023-24 (FY24) compared to just 5,555 distributors in the whole of 2022-23 (FY23), according to data from the Association of Mutual Funds in India. Like most financial products, MFs also have significant reliance on individual distributors to sell their products, even as digital platforms are gaining popularity.
Over 900 listed firms yet to comply with new Sebi requirement due in less than 90 days
GAIL India chairman and managing director B C Tripathi said the availability and possibility of gas has changed with the change in government policy.
Women from promoter families who have become directors since January this year include Sarala Birla (Century Textiles, Century Enka), Nawaz Gautam Singhania (Raymond Group), Bina Modi (Godfrey Phillips), Saroj Bhartia (Jindal Drilling & Industries) and Deepshikha Khaitan (Cera Sanitaryware).
The remuneration for 2009-10 fiscal to Mukesh Ambani, the country's richest person with a net worth of $29 billion and fourth wealthiest in the world as per Forbes magazine, is still higher than any other director of Reliance Industries.
Securities and Exchange Board of India has let off Reliance Industries Ltd and its chairman and managing director Mukesh Ambani and his brother Anil, who is vice-chairman and MD, from charges of insider trading
The government on Friday formally cleared Reliance Industries' Rs 16,000 crore (Rs 160 billion) petrochemical special economic zone, which would come up near the company's Jamnagar refinery.
Reliance Industries will set up two gas-based captive power plants to generate a combined 1100 MW for its special economic zone in Maharashtra and also its malls and other projects.
The Rs 31,000-crore refinery and petrochemical plant being planned by Oil and Natural Gas Corporation in Kakinada in Andhra Pradesh is likely to have a new partner -- the Bangalore-based GMR group. GMR is the latest to join the long line of suitors, including the Hinduja group, Reliance Industries and Essar Oil, for the refinery.
"We had identified 10 countries for setting up the mega petrochemical plant. A working group (of GAIL and RIL) will shortlist three of the identified countries. We may then narrow on one or two for setting up of the mega petrochemical plant," GAIL Chairman and Managing Director U D Choubey told reporters. He, however, refused to name the 10 countries identified for the purpose.
Ambani announced his 'personal contribution' of Rs 1 crore as a Member of Parliament
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The company's net profit was Rs 5,972 crore in the same period of 2014-15 fiscal.
Reliance Industries will account for about 40 per cent of the country's energy production in the next 18 to 24 months, putting the company on track to earn a quarter of its profit from oil and gas production, from 5 per cent now.
As part of this strategy, the e-commerce major has launched a programme to manage the entire business-to-business inventory supply and management for kirana stores in three cities in Karnataka.
With a view to open price bids next month, National Thermal Power Corporation will begin discussions with four bidders, including Reliance Industries, for supplying three million tonnes of LNG.
Reliance Industries on Wednesday decided to double the production capacity at its Jamnagar Refinery to 60 million tonnes at an investment of Rs 25,000 crore (Rs 250 billion).
Market regulator Securities and Exchange Board of India on Saturday said it has received several letters from Reliance Industries vice-chairman and managing director Anil Ambani
After Reliance Industries, Tata, Bharti and the AV Birla group, the Hero group is all set to enter the Indian retail sector.
Ambani, a Rajya Sabha member, had written to the Centre about two months ago requesting necessary action, sources said.
Eipro's Azim Premji has been pushed to second place.
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