Ambani family truce unlocks RIL growth potential.
Business conglomerate Adani Group's chairman Gautam Adani is now the world's second-richest person after overtaking Louis Vuitton's Bernard Arnault, according to Forbes' Real-Time Billionaires List. At the time of writing this report, Gautam Adani's net worth was $153.9 billion, compared to Arnault's net worth of $153.7 billion. Adani is now just behind business magnate Elon Musk, according to Forbes' data.
There were certainly qualities adhering to the Tata Group, which emanated from the persona of Ratan Tata. Most notable of these would be the low profile he maintained, which sharply contrasted the in-your-face celebrity status, celebration of wealth and pursuit of importance many of liberalised India's rich, love, notes Shyam G Menon.
This would be done either through strategic sale or initial public offering, ADAG chairman Anil Ambani told shareholders at the company's annual general meeting in Mumbai.
After announcing his re-entry into telecom a few days ago following a patch-up with younger brother Anil Ambani, Reliance Industries' chairman Mukesh Ambani on Friday said that prospects of the sector were much brighter now than they were at the time when he had spearheaded the undivided group's foray.
We will now get CAG to do the audit for the last 3-4 years, says the secretary.
The company had raised a similar amount of debt in FY 09 as well. Reliance Power has bagged three of four contracts for developing UMPPs in the country.
The market breadth was negative. Out of 2932 stocks traded, 1306 stocks advanced while 1485 stocks declined.
Reliance Industries Ltd, on Thursday announced that it has struck gas off the Orissa coast in Bay of Bengal.
Anil Ambani Group firm Reliance Power has chalked out an ambitious plan to invest about Rs 80,000 crore (Rs 800 billion) in the next three years for creating 20,000 MW of thermal power generation capacity.
Reliance Infrastructure said it plans to commission the Mumbai Metro rail project this year.
Reliance Industries chairman Mukesh Ambani on Monday announced a Rs 2 lakh crore investment in deploying fifth-generation or 5G telephony with rollout in metro cities by Diwali. Jio, the nation's largest telecom operator, has deployed standalone 5G stack rather than upgrading the existing 4G network, to offer ultra-high speed internet, he said at Reliance Industries' 45th AGM.
Reliance Retail will acquire the retail, wholesale, logistics and warehousing businesses of the Future Group. Future Group's financial and insurance businesses are not part of the deal.
The old guard is still involved in broad corporate decision-making, but quite a few new business heads have started making their mark at the group
Reliance Industries Chairman Mukesh Ambani said on Tuesday organised retailing will be the 'next big idea' in the companies' plans.
Mukesh Ambani's AGM speeches indicate a trail of forgotten promises and projects that have not ended up as envisaged.
Reliance Industries Ltd announced on Tuesday a big-ticket expansion in retailing business, which would have presence in 1,500 cities across India at an investment of about Rs 25,000 crore (Rs 250 billion) generating over 1000,000 new jobs.
The company's debt is around four times its earnings before interest, taxes, depreciation and amortisation, raising concerns among investors as well as stock analysts.
It's mostly fun and games at annual general meetings of companies, but sometimes it is also a bit ugly. . .
The world's largest independent telecom masts player GTL Infrastructure on Wednesday said its expects to complete the merger of Reliance Infratel's tower operations with itself by the middle of next month.
Surajeet Das Gupta explains why Mukesh Ambani's target is by no means impossible.
Globally China, Japan, Russia and South Korea and the US are the top FTTH markets.
The company is offering its own devices under the brand name Lyf along with other brands to employees at a 25 per cent discount.
Making his ambitions clear, Ambani said the company is "well equipped to be a national leader".
A coming together of the brothers will combine their separate, complementary and equally formidable strengths: Mukesh can execute mega projects in record time and derive value from scale; Anil is deft with finance and all things related to consumers and brands.
Indian telcos have been able to garner over 20 million 5G customers in less than four months after the official launch of the service last October, according to industry estimates. With telecom operators like Reliance Jio and Bharti Airtel aggressively rolling out their 5G services in over 190 cities across the country to date, India is now only behind China and the US in terms of the number of cities in a country where 5G services have been extended. Top executives in telcos say that the number of 5G subscribers in India is a conservative estimate and that it will rise as the roll-out gains momentum.
Reliance Communications (RCom), the country's second biggest mobile operator promoted by Anil Ambani, has earmarked Rs 30,000 crore for capital expansion this financial year with an aim to take its subscription to 100 million by 2010 from the current 60 million.
With RIL entering a new growth phase in telecom and retail, gen-next, say RIL executives, could soon be seen holding the reins of the firm, assisting their father, Chairman Mukesh Ambani.
The RIL board had last month approved 1:1 issuance of bonus shares after a 12-year hiatus. The last time RIL announced a bonus issue was in October 1997.
Reliance Capital, a part of the Anil Dhirubhai Ambani Group, is looking to invest Rs 2,000 crore in insurance businesses in the next three years, which would take the company's cumulative investment in the sector to Rs 4,000 crore.
The fuel from the KG basin will prune Rs 114,000 crore (Rs 1,140 billion) from the country's import bill. The price of $4.2 per million British thermal unit (mBtu) approved by the government for selling gas implies potential savings of about Rs 85,000 crore (Rs 850 billion) for consumers, said Ambani. Ambani's statement on gas pricing comes even as the government is considering a revision of the floor price of $4.2 mBtu that was approved in September 2007.
The Prime Minister's visit to Japan reinforces the strategic focus of global partnership between India and Japan.
India's big retailers have tempting jobs lined up. Tune in.
Billionaire Mukesh Ambani on Monday laid bare the succession plan at India's most valuable company, identifying twins children Akash and Isha for telecom and retail leadership, and youngest son Anant for new energy unit. He, however, insisted he isn't retiring yet and will "continue to provide hands-on leadership as before". At the annual shareholders' meeting of Reliance Industries Ltd, he said the robust architecture that he has announced will ensure the firm remains "a unit, well-integrated and secure institution even as it develops existing businesses and adds new growth engines."
RIL is also set to file its tariff plans, which will mark the company's intent to commercialise Jio's operations, with the regulator this week
Mukesh Ambani-led Reliance Industries Ltd announced on Tuesday a new crude oil discovery in the Krishna Godavari basin off the Andhra Pradesh coast.
Institutional shareholders of Reliance Industries Limited (RIL) are expecting big-ticket announcements from the company, including timeline for listing of its telecom and retail subsidiaries. They expect this to unlock value in the company, which has seen a sharp fall in market valuation on Friday. This is due to windfall tax imposed by the Centre on refiners and oil producers.
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