With RIL's market capitalisation crossing the Rs 11-trillion mark on Friday, Ambani is ahead of Google co-founders Larry Page and Sergey Brin, the 10th and 11th richest, respectively, and behind Zara founder Amancio Ortega on the Forbes Real-time Billionaires List.
After a stint in Crisil as chairman, Mohan joined the Mukesh Ambani-led company as executive director in August this year, RIL spokesperson said.
India Inc's cash pile was up 13.8 per cent last fiscal year, thanks to a combination of higher profits in sectors such as IT and fund raising by top companies such a Reliance Industries, Bharti Airtel and Tata Motors, among others.
Company's remuneration for top management personnel has declined.
Among Sensex components, shares of Reliance Industries, India's largest company by market value, stole the show by surging 1.61 per cent to their highest in over three months.
Several leading industrialists, including Reliance Industries CMD Mukesh Ambani, Vedanta Resources Limited executive chairman Anil Agarwal, chairman emeritus of Tata Sons Ratan Tata, Mahindra Group chairman Anand Mahindra, Paytm Founder and CEO Vijay Shekhar Sharma, Welspun Group chairman and Assocham president B K Goenka, attended the swearing-in ceremony.
Bharti Airtel on Thursday said its 5G services have gone live in eight cities of Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, Siliguri, Nagpur and Varanasi. The customer availing 5G services will have to pay as per their existing 4G plan, it said. "Airtel has been at the forefront of India's telecom revolution for the last 27 years.
Insurance companies are seeking a separate deduction limit of Rs 1 lakh for insurance premium payment under Section 80C of the Income Tax Act in the upcoming Union Budget to bring in more people under the ambit of insurance. The insurers also want reduction in the goods and services tax (GST) rate of 18 per cent currently applied on health insurance products to 5 per cent to make such products more affordable to common people. Finance Minister Nirmala Sitharaman will present the Union Budget for 2022-23 on February 1.
WhatsApp's advantage is that it is the first app millions of Indian check first thing in the morning and innumerable times during the day and night.
West Bengal Chief Minister Mamata Banerjee has left no stone unturned this year after big industrialists, along with Union ministers, skipped attending the BGBS 2017.
The uniform SUC, if implemented as per recommendations made by Telecom Regulatory Authority of India, will provide relief for mobile operators such as Airtel, Vodafone and Idea, but will increase rates for broadband wireless access spectrum holders like RJIL.
HDFC and HUL are the latest entrants in the club
Indian telecom seems to be getting back on its feet.
Mukesh Ambani voluntarily capped his compensation at Rs 15 crore in October 2009 amid a debate over right-sizing of CEO salaries.
The government is expected to dole out some populist policies, especially for the rural / farm sector while presenting the interim budget, given that the country is heading towards general elections over the next few months.
Trade and economic issues, including visa, totalisation pact and impediments hampering investments, are likely to figure at Monday's US-India CEO Forum meeting, which will be jointly addressed by visiting US President Barack Obama and Prime Minister Narendra Modi.
At least 30,000 growers are hedging for their produce through farmer producer organisations
On March 10, the boards of directors of RIL and IPCL had approved the scheme merger. RIL's associate companies hold 47.3 per cent of IPCL's equity share capital.
As record stock market rally continues, the value of shares directly owned by next-generation business leaders at 20 major corporate houses has soared over 18 per cent to Rs 17,000 crore.
RIL and ONGC on March 28 agreed to appoint neutral international expert to decide if four wells drilled on boundary of KG-D6 block were drawing gas from neighbouring gas discoveries of the state-owned firm.
Experts say going ahead data price will fall further due to competition
'Some of the learning may be implemented in the Budget'
Telecom operator Bharti Airtel on Tuesday posted a 49.2 per cent jump in its consolidated net profit to Rs 3,005.6 crore for the January-March quarter of 2022-23 on the back of new 4G customers and strong growth in average revenue per user (ARPU). The company had recorded a net profit of Rs 2,007.8 crore in the same period a year ago. Bharti Airtel's consolidated revenue from operations grew by 14.31 per cent to Rs 36,009 crore during the reported quarter from Rs 31,500.3 crore in the March 2022 quarter.
The total value of India's top 100 brands has increased by 2 per cent, from $162.1 billion in 2020 to $164.9 billion in 2021, according to the latest Brand Finance India 100 2021 report. This uplift in brand value over the course of the first year of the pandemic is an impressive feat given the global economic crisis following the implementation of national lockdowns in March 2020, when business activity was brought to a halt, affecting both production and consumption. Among the brands that came on the top of the list include Tata Group, Reliance Industries, and Mahindra Group.
'The reality is no one, including some of the names that have shown up in the last few weeks, have any unilateral decision-making power in this,' Facebook India MD Ajit Mohan tells Peerzada Abrar.
Having 50 stores in India, it plans to double the number.
Reliance Gas, which had successfully bid for three cities -- Rajahmundry in Andhra Pradesh, Shahdol in Madhya Pradesh and Yanam in Pondicherry -- during the second round of bidding for CGD in 2009.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
Shobha Kapoor and Ekta Kapoor, managing director (MD) and joint MD of media firm Balaji Telefilms have failed to obtain requisite votes on resolutions pertaining to their remuneration. According to stock exchange disclosure made by the company, the two separate special resolutions on setting their salaries for the next years got 56.77 per cent and 55.45 per cent 'against' vote.
While JioMart is doing 250,000 orders per day, BigBasket and Amazon pantry are doing 220,000 and 150,000 orders, respectively.
For India to succeed in this data driven revolution, we will have to migrate the control and ownership of Indian data back to India: Mukesh Ambani.
In order for life insurance customers to attain maximum benefits, it is crucial for the persistency ratio to be far higher than its current level, top executives of the industry said at the Business Standard BFSI Insight Summit on Thursday. The persistency ratio is a metric that measures the number of policyholders who continue paying renewal premium and is gauged at varying stages in the life of a policy. A higher persistency ratio is seen as an indicator of an insurance product that caters satisfactorily to the needs of a customer.
Nadar and his family donated Rs 826 crore, while Azim Premji gave Rs 453 crore and Ambani parted with Rs 402 crore, according to the Edelgive Hurun India Philanthropy List 2019.
IT major nears $100 bn m-cap, accounts for 61% of the group's combined valuation.
'For all of us at Amazon, it is 'Bharat first'.' 'We are keeping the Indian customer at the centre of what we are doing.'
Ambani's wife Nita Ambani, a non-executive director on the company's board, earned Rs 600,000 sitting fee.
Wife Nita, who joined the board as non-executive director in FY15, draws Rs 84 lakh
India seeks greater market access for its products including textiles, pharmaceuticals and bovine meat.
Batting for greater transparency, a Sebi panel said sound corporate governance helped companies generate "significantly greater returns".
