With political parties using him as punching bag in the highly charged election campaign, Adani Group head Gautam Adani on Sunday said he got no special favours from Narendra Modi and his group has since 1993 acquired only barren waste land for infrastructure projects.
Reliance reported record pre-tax profit from its retail and telecom businesses. The two now account for nearly 32 per cent of EBITDA, up from close to 25 per cent previously.
The entry of the deep-pocketed conglomerate is expected to heighten competition.
An emergency arbitration hearing between Amazon and retail conglomerate Future Group took place last week and a verdict is expected in the next few days, according to sources.
Amazon has asked Sebi to suspend its review of the Rs 24,713 crore Future-Reliance deal and not grant a no objection certification on the ground that its challenge to the agreement was before the Delhi high court. E-commerce major Amazon has written to Sebi again, this time apprising it about the admission of its appeal before the division of the Delhi high court and urged the market regulator to suspend the review of the Future-Reliance Industries Ltd (RIL) deal. This is the eighth letter by Amazon to the Securities and Exchange Board of India (SEBI) chairman Ajay Tyagi since late October. Amazon has been opposing Future group's pact with billionaire Mukesh Ambani's RIL that was signed in August last year.
The oil-to-telecom conglomerate reported an 8.8 per cent rise in its consolidated net profit to Rs 10,251 crore, or Rs 17.3 per share, in the third quarter ended December 31, 2018.
The latest telecom war kicked off after some pictures surfaced, showing Airtel banners among agitating farmers. According to the Jio camp, it was a giveaway that farmers were being enticed to port their phone numbers.
RIL's stake in Network18 would reduce to 64 per cent, from 75%, following the merger
RIL's Rs 53,124 crore rights issue was India's largest-ever rights issue. It was also the world's largest rights issue by a non-financial institution in the last ten years.
The four women have a collective wealth of $11.3 billion and account for a little more than three per cent of the total net worth of all on the coveted list whose collective wealth amount to $346 billion.
The DoT has issued long-awaited migration guidelines which pave way for Internet service providers (ISP) like Reliance Jio Infocomm and Tikona, that have BWA spectrum, to offer mobile telephony service by paying an extra fee of Rs 1,658.57 crore (Rs 16.58 billion).
Over 900 listed firms yet to comply with new Sebi requirement due in less than 90 days
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.
"We are delighted to welcome Google as a strategic investor in Jio Platforms. We have signed a binding partnership and an investment agreement under which Google will invest Rs 33,737 crores for a 7.7 per cent stake in Jio Platforms," Mukesh Ambani said at the company's annual general meeting.
All directors, key officials, and shareholder speakers will be visible and audible and thousands of shareholders, including those from the US, UK, Canada UAE, Japan, HongKong, Singapore, Malaysia, and Australia, will be able to post their questions and eVote on resolutions.
As global economies contract because of the Covid-19 pandemic, the focus of most of the India Inc has now moved back to the home market where demand is expected to pick substantially from the coming festival season.
Bollywood superstar Shah Rukh Khan was again "detained" at an United States airport, the third time in seven years that he has been stopped by US immigration officials at the country's airports. However, outrage over the incident prompted US Ambassador to India Richard Rahul Verma to apologise on behalf of his government.
President Pranab Mukherjee presented five Padma Vibhushan, eight Padma Bhushan and forty-three Padma Shri awards at the Rashtrapati Bhavan in New Delhi.
'We would like to develop Andhra Pradesh into a logistics hub not only for India, but also for South Asia.'
RIL has also appointed McKinsey senior advisor Adil Zainulbhai as independent director and Network 18 Media & Investments (NW18) former promoter Raghav Bhel as a non-executive director on the NW18 Board.
RIL, however, remains miles ahead of TCS in other financial parameters such as total revenue, operating profit, net worth, assets, and market capitalisation.
E-commerce major Amazon has written to Sebi yet again, apprising the market regulator of the formation of the arbitration tribunal at SIAC while urging it to suspend the review of the Rs 24,713 crore Future-RIL deal. It has also filed an appeal with the division bench of the Delhi high court against the December 21 order of the single member bench, according to sources.
Even as regulatory focus has zeroed in on foreign e-commerce giant Amazon, a domestic retail giant has been created almost below the radar in Reliance Retail (RR), one of the most crucial businesses for the group's future. From doorstep delivery of groceries, apparels to branded jewellery, medicines, toys, furniture to high street retailing, RR's presence in the world's fourth largest consumer market is just one part of the story.
Profit from its retail business jumped 77 per cent to Rs 1,923 crore and that from telecom rose by 78.3 per cent to Rs 2,665 crore.
Reliance has around 100 Delight stores in the country.
Year 2013 saw business leaders facing the ire of hostile investigative agencies.
The company expects net proceeds of Rs 53,036.13 crore from the rights issue that opens on May 20 and closes on June 3.
The complainant stated that Reliance group has consented to allot a petrol bunk to him at Peddapalli and for this purpose he even accepted to give his land for market price.
Companies announce Rs 768 bn worth investments in Dec quarter versus Rs 1.15 trn in Sep quarter
Manchester City CEO Ferran Soriano said the group had been looking for years at soccer in India and the Indian Super League (ISL), which is currently in its sixth season.
Sun Pharma stock has appreciated at 35% a year for 20 years
A single application and a plethora of services for passenger cars - that is what myTVS, a brand that operates under Ki Mobility Solutions and is part of the TVS family, is set to bring to customers, in a bid to disrupt the concept of "super apps" in India. Starting July 15, myTVS will launch its connected car platform or super app called myTVS Life360 for aftermarket passenger cars. Through it, customers will be able to avail themselves of a range of services like maintenance, diagnostics, roadside assistance, accessories, payments, insurance, and so on.
Mamata Banerjee said availability of land won't be a problem in Bengal as the state government has a land bank.
Mumbai is witnessing some big-ticket investments in bungalows by the city's billionaires.
The company is keen on creating 'a differentiated e-commerce model'.
Kumar Mangalam Birla will be the non-executive chairman and Balesh Sharma the new CEO of the merged entity, which will remain listed.
No longer Bengal's finance minister, Amit Mitra, Mamata's principal chief advisor, will still advise and aid the 'chief minister and finance department on all matters relating to management of state finance', represent the 'state government in national and international events/meetings/committees' and examine 'important proposals/files and policy issues relating to financial matters referred to him for advice/views'.
Spectrum auction on Thursday entered the 10th day of bidding and started off from Rs 61,091.83 crore (Rs 610.91 billion) in terms of value.
Indian-American business leaders meet to discuss ways to make this initiative a success.
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The Tata Group says it is bullish on investment in India.
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