Indian retailers put cash & carry on backburner
The Ambani brothers -- Mukesh and Anil -- came together for the inauguration of a memorial for the legendary industrialist and founder of Reliance Group Dhirubhai Ambani in Chorwad town in Junagarh district on Wednesday, in the presence of the entire family.
Even four years after splitting the Reliance empire, the Ambani brothers still seem to be washing dirty linen in public: the latest battle is over gas pricing.
RIL saw its total headcount grow by 505 employees during the fiscal ended March 31, 2012 to a total staff size of 23,166, it said in its annual report for 2011-12.
'In the audience's mind there is no urgency to go see a film in the theatre.' 'If you pay for social media buzz it does not convert into bums on seats.'
Tata group firm TCS on Wednesday replaced Mukesh Ambani-led Reliance Industries as the country's most valued company in terms of market capitalisation, as investors rallied behind the shares of the IT giant.
India's retail giants, including Kishore Biyani's Future Group, Mukesh Ambani's Reliance Retail and Sunil Mittal-promoted Bharti group, have started negotiations with the railways for leasing land for retail development.
Tata Consultancy Services had dethroned RIL from the pole position in market-valuation charts on December 30, the last trading session of 2011, but its leadership position proved to be short-lived and it slipped to the second position in Monday's trading session -- the first of 2012.
State commerce and industry minister, Nirupam Sen, and secretary, Sabysachi Sen are in Mumbai and have held a series of meetings with industrialists in Mumbai, including Tata group chairman, Ratan Tata, Mukesh Ambani of Reliance and Ashok Hinduja of the Hinduja group.
'It was beautifully played by an American band.'
Days after billionaire Mukesh Ambani-led group took some of the stores of Future Group, whose lease had expired due to the non-payment of rent, Amazon.com Inc on Tuesday accused the two of 'fraud' and said such 'contumacious' transfer will be liable to legal action.
Asia's richest man Gautam Adani on Wednesday said his ports-to-power conglomerate will build three giga factories for manufacturing solar modules, wind turbines, and hydrogen electrolyzers as part of a $70 billion investment in clean energy by 2030. Adani group is stepping up investments across the green energy value chain as it aims to become the world's top renewable energy producer by 2030. "The Adani Group has already committed $70 billion (for climate change and green energy).
The apex court on March 31 named Spigelman as the third Arbitrator who shall act as the Chairman of the Arbitral Tribunal whose two other members are former Chief Justices of India -- S P Bharucha and V N Khare.
As part of ongoing de-merger of Reliance group companies following settlement of ownership between two Ambani brothers, Mukesh Ambani-owned Reliance Industries Ltd has acquired 37.95 per cent stake in Reliance Energy, owned by the younger brother.
The long-awaited high-speed 5G services are expected to be rolled out in about a month, Minister of State for Telecom Devusinh Chauhan said on Monday. Addressing the inaugural event of the International Telecommunication Union's Regional Standardisation Forum (RSF) for Asia and Oceania region, Chauhan said India is likely to deploy indigenously developed and manufactured 5G telecom gears by end of this year for 5G services. "In about a month, 5G mobile services will roll out in the country, which will have multiplier effects on the development of all sectors.
India's two corporate giants Tata Group and Mukesh Ambani owned Reliance Group have booked space in DLF Ltd's malls for rolling out their retail ventures.
Mukesh Ambani's Jio, high debt and some bad decisions drove RCom to its grave.
Second deal in 4 months after tie-up with RIL for cargo airlines.
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
Billionaire Mukesh Ambani's Reliance Industries has signed a pact to invest an undisclosed amount in a giant petrochemical hub being built in the UAE. The oil-to-telecom conglomerate will join the recently-formed Ta'ziz joint venture of Abu Dhabi state energy giant Adnoc and state holding company ADQ for developing the Ruwais Derivatives Park in western Abu Dhabi. A company statement said an agreement has been signed for Reliance to invest in the project but did not give details. Unconfirmed reports put the investment at about $1.5 billion.
The likes of SRK, Nirula and Mallya are in the race to own an IPL team for the upcoming Twenty20 series.
Industrialists Anand Mahindra and Ratan Tata will co-host a power lunch for CEOs with the visiting US Treasury Secretary Timothy Geithner on April 7.
In an action replay after seven years, Mukesh Ambani-promoted Reliance Industries, India's largest company by market capitalisation, announced on Friday, plans to merge its group firm Reliance Petroleum with itself. Both RIL and RPL informed the Bombay Stock Exchange on Friday that they would hold separate board meetings on March 2 to consider the merger.
Reliance Industries lost its position of the country's most valued company to Tata group firm TCS this afternoon, as the shares of billionaire Mukesh Ambani-led corporate giant fell sharply in a weak market.
Reliance Industries' $14.5 billion bid for LyondellBasell may be rejected by the creditors of the bankrupt Dutch company, a media report said.
Sahara Group chief Subrata Roy is still interested in buying a majority stake in Liverpool and discussions are taking place, although they are at an early stage, according to reports published on Wednesday.
Public-interest litigators Arundhati Katju and Menaka Guruswamy, who spearheaded a historic legal battle for LGBTQ rights in India, along with Reliance Industries Chairman Mukesh Ambani are among the Indians who have been named by TIME magazine in its prestigious list of the 100 most influential people in the world. The list also includes Indian-American comedian and TV host Hasan Minhaj.
Mukesh Ambani, chairman and managing director of Reliance Industries Ltd, will set up a new age world-class university in India.
Mukesh Ambani, who heads Reliance Industries, has been ranked among top five best performing CEOs in the world by the prestigious Harvard Business Review.
The investments are expected to happen in the Delhi-Mumbai Industrial corridor.
India's richest real estate entrepreneur Kushal Pal Singh on Monday became the country's third trillionaire in rupee terms with a sharp rise of four per cent in his group's flagship company DLF Ltd, pushing its market value to about Rs 1,14,744 crore
The Bombay high court has sanctioned the scheme of amalgamation of RPL with Reliance Industries, Mukesh Ambani-led company said in a filing to the Bombay Stock Exchange.
Mustang's work for the KG-D6 Development (plan) was based on all available information and performed in an independent manner in October/November 2007," Woods Group -- the parent firm of the engineering consultancy firm -- said in an e-mailed statement from Houston. Anil Ambani group, fighting a legal battle to source gas from RIL's KG-D6 fields at less than market price, had stated the Mustang was not the best to validate because it had carried out separate work.
Reliance Retail Ventures Ltd, run by India's richest man Mukesh Ambani, on Tuesday raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA), taking the total fundraise to Rs 37,710 crore in less than four weeks.
Global rating agency Standard and Poor's on Monday cautioned that the credit quality of Mukesh Ambani controlled Reliance group's flagship company RIL might "weaken"
Vaidyanathan, former managing director and CEO of ICICI Prudential Life Insurance, as a sign-on bonus got 20 lakh (2 million) warrants worth Rs 47.40 crore (Rs 474 million), DNA said.
At the moment Concor, a public sector company controlled by the railways, has a monopoly in running container trains across the country. It offers ferrying rates to carry containers that are one-third of that on roads.
While Mukesh Ambani-led RIL has nominated former Justice Bharucha as its arbitrator, the Centre chose Justice Khare as its nominee.
India's leading businessmen attended the grand banquet organised to honour US President Barack Obama at the Rashtrapati Bhavan.
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