Reliance Industries (RIL) has reset its battery pack production timeline, shifting it from 2023 earlier to 2024, details shared in the oil-to-telecom conglomerate's latest annual report suggest. In the FY23 annual report released on Sunday, the company has listed the start of battery pack production in 2024. A year ago, at the company's annual general meeting (AGM), Mukesh Ambani, chairman and managing director of RIL, had said, "We aim to start production of battery packs by 2023 and scale up to a fully integrated 5 GWh annual cell-to-pack manufacturing facility by 2024."
IT major HCL Technologies' Shiv Nadar has retained his position as the 'most generous Indian' in 2023 as well, with a 76 per cent jump in his donations at Rs 2,042 crore. Wipro's Azim Premji's donations zoomed by 267 per cent to Rs 1,774 crore during the same year, according to the Edelgive Hurun India Philanthropy List 2023 released on Thursday. Richest Indian Mukesh Ambani donated Rs 376 crore in the year, which is an 8 per cent decline.
Anil Ambani-promoted multiplex chain may sell stake to the Mexico-headquartered global giant
India, the world's third-largest energy consumer, will see its energy needs doubling by the end of this decade as it witnesses an unprecedented explosion of economic growth, the nation's richest man Mukesh Ambani said on Saturday. Speaking at the convocation of Pandit Deendayal Energy University (PDEU), Ambani, who heads the nation's most valuable company Reliance Industries Ltd, said the Indian economy will become a $40 trillion economy by 2047 from the current $3.5 trillion. "And to fuel this growth, the country will need enormous amounts of energy - clean, green energy that won't choke mother nature for the sake of human progress," he said.
April-June 2023 (Q1FY24) was a mixed quarter for India's top family-owned business groups. Three of the big five in terms of revenue reported a year-on-year (Y-o-Y) decline in combined net sales and two saw a Y-o-Y fall in net profits. Combined net sales of all listed companies in the five groups were up just 2.2 per cent Y-o-Y at Rs 6.6 trillion in the quarter, down sharply from the 10.3 per cent in the March 2023 quarter (Q4FY23) and 42.8 per cent in Q1FY23.
The MoU was signed during the India visit of Russian President, Dmitri Medvedev, a press release issued here today stated. Russian World Studios is one of the largest private film companies in the Russian market and has produced several projects, both for TV and the big screen.
Jio is targeting to differentiate its services via superior data and an associated ecosystem of content.
RIL is on its way to becoming a global hydrocarbon major with a larger petroleum refinery and sizable upstream business.
Jio Financial Services, a unit of Mukesh Ambani's Reliance Industries (RIL), got valued at Rs 1.66 trillion ($20 billion) following an hour-long special trading session conducted by stock exchanges on Thursday. Shares of RIL's unit got priced at Rs 261.85 apiece - higher than analysts' expectations of Rs 134-224 per share. The price was arrived at after calculating the difference between RIL's Wednesday (July 19) close of Rs 2,840 and Rs 2,580, the price discovered during the first-of-its-kind pre-trade session.
The company will wait for sizeable user base for better valuation.
The firm would require it to more than triple its CAGR of revenue to 18.5% for the next decade from 6%
Global funds, according to Christopher Wood, global head of equity strategy at Jefferies, are now beginning to pay more attention to India with the market now offering 30 companies with a market capitalisation over $25 billion.
This year will be the one when GenAI becomes a part of the daily lives of people around the world.
The Western Vidarbha region comprising three districts of Akola, Washim and Buldana recorded bids of over Rs 50 crore (Rs 500 million) in the IPO that had opened on January 15, according to banking and private money market sources.
'Sweden removed the inheritance tax because many of the rich were fleeing. For example, the owner of IKEA had migrated out of Sweden'
Big TV, the Reliance Anil Dhirubhai Amabni Group's soon-to-be-launched direct-to-home venture, has bagged the official DTH partnership for the Indian Premier League, the Board of Control for Cricket in India's Twenty20 cricket tournament, for a bid of $31.16 million (about Rs 137 crore) for the next four years.
Big retailers are openly talking of plans to harness the power of big data, even reporting those in annual reports as part of a long-term strategy.
Jio says it has completed mobile number portability testing and is certified MNP-compliant
Is it is necessary to play divisive politics to succeed in the next general elections? asks Dr Sudhir Bisht.
While priced Rs 12,999 and at just 7 inches, Reliance 3G Tab fits into your pocket (pun intended) its real test lies in how it compares with the Big Daddies of the tablet world. Here, then, is a detailed review of a branded tablet that doesn't burn a hole into your pocket. Read on...
The defence budget was on Thursday increased to Rs 6.21 lakh crore for 2024-25 in a modest hike of 4.72 per cent from last year's allocation of Rs 5.25 lakh crore amid India's continuing border row with China in eastern Ladakh as well as concerns over evolving security situation in the strategic waterways.
Billionaire Mukesh Ambani has set targets for his three kids whom he has identified for takeover of telecom, retail and new energy business. Speaking at his father Dhirubhai's anniversary, celebrated as Reliance Family Day, he said the oil-to-telecom-to-retail conglomerate Reliance industries Ltd has embarked on a journey of comprehensive self-transformation. "The end of 2022 is when Reliance will have crossed the half-way mark of its Golden Decade.
"Big retail outlets are welcome. We have got no doubt about it. Our experience in the past one year is that they are able to give better price to farmers and they are able to give consumers better products at an affordable cost," CM Y S R Reddy said.
Lenders and shareholders of Reliance Industries Ltd (RIL) will meet on May 2 to demerge the firm's financial services business. This is expected to create a big player in segments including the NBFC (non-banking financial company) space with net worth of Rs 25,851 crore as of March 2022. According to the plan, RIL shareholders will get a share in the demerged entity for each one held in the company.
After acquiring 200 theatres in America the Anil Ambani group, on Sunday will now co-produce Hollywood films, a territory which until now was dominated by UTV. Some of the films benefitting from the Reliance alliance is Nicolas Cage's Saturn Productions, Jim Carrey's JC 23 Entertainment, George Clooney's Smokehouse Productions, Chris Columbus 1492 Pictures, Tom Hanks' Playtone Productions, Brad Pitt's Plan B Entertainment and Jay Roach's Everyman Pictures.
Both groups warn of initiating strict actions, issue public notices.
After a spike in crude oil and gas prices in October following the Hamas terror attack, prices eased down 9 per cent month-on-month in November. The Organization of the Petroleum Exporting Countries (Opec) and Opec+ agreed to a further voluntary production cut in January-March 2024 to try and support global crude prices. The best guess here is that crude prices (currently at $75/barrel, or bbl) will not likely cross significantly above $80, and gas prices are also likely to remain subdued unless there's a further escalation in the Israel-Hamas conflict.
The battle for subscribers in the direct-to-home space is set to get hotter, with new player Big TV expected to fire a price war. Anil Dhirubhai Ambani Group's Big TV will be commercially launched sometime in May and is looking at tying up over 5 to 5.5 million subscribers even before its launch.
The film has irked the community for a controversial dialogue in the film.
The NCLT has granted Future Retail Ltd (FRL) an extension of 90 days for concluding the Corporate Insolvency Resolution Process (CIRP) of the company. Allowing FRL's plea the Mumbai bench of the National Company Law Tribunal (NCLT) has extended the deadline to July 15, 2023, for concluding the CIRP of FRL. "... NCLT on April 13, 2023, heard the application and granted the said exclusion of 90 days from CIRP of FRL and consequent extension for completion of CIRP till July 15, 2023," said a regulatory filing from the company.
The digital video recorder, which allows viewers to record programmes in one channel while watching another and play according to convenience, is being billed as the next big thing in the evolving Indian DTH market. "This, of course, will be a premium product and we plan to announce the launch of DVR technology platform for our DTH service very soon. It will be a Diwali gift to our customers," TataSky Chief Marketing Officer Vikram Mehra told PTI.
Reliance Power has terminated its mega power project in Jharkhand over inordinate delays in land acquisition.
Seventeen firms had originally applied for the licence but the figure has since come down to 12, with several big players in the mix.
It's just three weeks to Christmas and Indian gaming companies have geared up with their offerings weaved around a plethora of topics relating to the December festival -- carols, cakes, decoration of the Xmas tree, Santa Claus and his magical elves and flying reindeers.
How much do you know about the Vibrant Gujarat Global Summit 2024?
The migration of domestically developed intellectual property to foreign corporations within India reflects an anomaly in the demand pattern of the country's job market, points out Kanika Datta.
The Indian film industry joined hands with Hollywood on Wednesday to counter piracy.
The boom in organised retail will set the tone for major economic overhaul. The ripple effect will be improved supply chains, volume output, integration into global commerce, and higher tax collection, notes T N Ninan.
Harbhajan Singh reckons the current team has not shown the fearlessness that one needs to win ICC titles
