"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
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 company's net profit was Rs 5,972 crore in the same period of 2014-15 fiscal.
For last two months, much of the discussion, a large part of due diligence, agreement negotiations, etc, have happened remotely.
A delegation of high-level executives from US public pension funds (non-profit and government sectors) is visiting India next week to assess and familiarise themselves with the investment opportunities in the country. These executives belong to various American states and cumulatively represent $1.8 trillion in assets under management (AUM) invested across the US and global markets. The United States (US) mission to India, which includes its embassy and consulates and the Department of Treasury, along with India's Ministry of Finance and the National Investment and Infrastructure Fund (NIIF), is hosting the delegation.
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.
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.
Seeking to assuage pilot shortage concerns, Akasa Air's chief executive Vinay Dube on Friday said the carrier has sufficient pilots and flyers should not expect any flight cancellations. "We have plenty of pilots. We have given numbers like 700 in the past. "I don't think this is something from an Akasa perspective people need to worry about because we have got this plan in place where we have pilots not just for our current set of aircraft but we have got pilots for the foreseeable future in terms of growth," Dube told PTI at the sidelines of a CII event.
Four L&T executives, 2 from RIL and 1 from Tech Mahindra own over Rs 100 crore (Rs 1 billion) each in stock options.
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.
Amid the ongoing controversy over limited mobility service by basic telecom operators, Reliance Industries asserted on Monday that it was keeping its telecom services in conformity with the licence conditions and said it wanted fair returns and was n
India and China would be manufacturing bases for end products, while the sector is expected to record $2.5 billion this year, according to Reliance Industries chairman and managing director, Mukesh Ambani.
Oil to telecom conglomerate Reliance Industries (RIL) has initiated the process to seek shareholders' approval for the appointment of the third generation of the Ambani family on the company's board. The remote voting through postal ballot will start from September 27 onwards. In a separate note, CreditSights said a trust and hold-co model could be a possibility for the anticipated succession at RIL.
India will become one of the top 10 telecom powers in the world by the year 2006, Mukesh Ambani, chairman and managing director of Reliance Industries, said in New Delhi on Saturday, at the Pravasi Bhartiya conference.
'The impact of CEO transition is fairly even for stocks, with about half (53 per cent) of the events not producing any change in the relative performance of the stock.'
Nifty50's earnings growth, estimated at 20 per cent by global research and brokerage firm Jefferies for financial year 2023-24 (FY24), will be amongst the top three in the Asian region, and is likely to outperform peers. Asean 40 index with 29.1 per cent estimated earnings growth and Straits Times Index (STI) with 29.1 per cent estimated earnings growth are the only two other indices in the Asian region that are likely to outperform India, suggests the recent Jefferies report, coauthored by Mahesh Nandurkar, their managing director along with Abhinav Sinha and Nishant Poddar.
Out of 24,230 IIT and NIT grads, about 8,000 students didn't find any takers during campus placement drives this year.
For the company's latest energy initiative to expand its green energy and storage portfolio, some analysts are beginning to suggest a closer look at some of its segments. In his address to shareholders in the company's FY22 annual report, billionaire Mukesh Ambani, chairman and managing director of the company, said: "The green energy value holds great promise to outshine all our existing growth engines in just 5-7 years." The company has marked an investment of Rs 75,000 crore towards its new energy plans, which include solar energy value chain, green hydrogen, energy storage and other similar businesses.
National Thermal Power Corporation has extended by two weeks to May 12 the last date for bidding for its mega LNG supply tender, to enable Royal Dutch/Shell to cobble a joint bid with French oil giant Total.
In last few years, a number of global players have exited the Indian mutual fund business.
Reliance's hydrocarbon business was adversely impacted due to reduction in demand for refined products and petrochemicals.
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.
'We are in the middle of an unprecedented SIP revolution.' 'Monthly inflow through SIPs will be Rs 15,000 crore to Rs 20,000 crore soon.' 'Traditional avenues of Indian savings like bank fixed deposits, gold or real estate are no longer attractive to invest.'
In the rights issue, the company is offering one share for every 15 shares held at Rs 1,257. The rights shares are expected to be listed on the BSE and NSE on or around June 12.
'Focus on 19,400/64,900 as the key resistance levels for the Nifty/Sensex.'
The bigger threat for DMart is that the Reliance-Future combine now has grocery revenues that are nearly 2.5 times of it, putting pressure on the former to improve stickiness of its consumers.
India's biggest firm, Reliance Industries, has decided to cut salaries by 10 per cent in its oil and refining divisions. Several smaller companies like Kajaria Ceramics have followed suit with cuts as high as 40 per cent for those earning more than Rs 50 lakh.
Telecom operator Bharti Airtel on Tuesday posted a 31 per cent drop in consolidated profit to Rs 2,072 crore in the March quarter mainly due to devaluation of the Nigerian Naira. The company had registered a profit of Rs 3,005.6 crore in the year-ago period. The consolidated revenue of operations increased 4.4 per cent to Rs 37,599.1 crore during the quarter under review from Rs 36,009 crore a year earlier.
