Subash Chandra's Indian Cricket League can breathe a sigh of relief.
The exposure, which is for the period ended September 2019, is across various platforms such as life funds, pension funds, and unit-linked funds.
Amazon will invest more than Rs 2,000 crore (about $233 million) in India in 2025 as it strengthens its logistics and safety standards, said the ecommerce company on Thursday.
Reliance Jio Infocomm, expected to start commercial operations in the Indian telecom space in the next few months, had a net worth of Rs 5,026.16 crore, the company said in a statement submitted to the Department of Telecommunications (DoT) on Monday.
This recognition is a testimony of India's strong belief in promoting entrepreneurship
While RCom owes Indian banks close to Rs 45,000 crore, Ambani has lost close to $408 million of personal wealth year-to-date until Tuesday.
The telecom industry is moving towards a five-plus one model.
Anil Ambani's Reliance Power tops the table with 3.46 million shareholders
'While investors in Reliance have had to play a game of patience for long stretches, for Anil the challenge is to do what used to be his brother's forte -- generating cash by putting assets in the ground and making things,' says T N Ninan.
Just ahead of its mega FPO opening to public investors, Vodafone Idea (VIL) has announced closure of its anchor book allocation, raising about Rs 5,400 crore from marquee global as well as domestic investors, according to a statutory filing by the telco. This could be the third-largest anchor book after One 97 Communications and Life Insurance Corporation (LIC). One 97 Communications and LIC had raised Rs 8,235 crore and Rs 5,627 crore in the anchor round, respectively.
Reliance Jio to take over mobile business assets of troubled RCom at an estimated value of Rs 24,000-Rs 25,000 crore.
'We found certain banks having lakhs of such accounts with apparently no valid reason.'
68 per cent of employees have experienced undue pressure from management, often citing AI and technology as benchmarks for performance, leading to workplace tension.
The dispute between RCom and Chinese banks led by ICBC started after Anil Ambani led company defaulted on its loans to Indian as well as Chinese banks. A British court on May 22 asked Ambani to pay nearly $717 million to three Chinese banks within 21 days.
Ambani said, in the telecom space, the focus will be on debt reduction, and the virtual merger did away with the need for major capex and will help towards this
The Sensex has conquered the 19,000-mark backed by revival of funds-based buying in blue chip stocks in metal, capital goods and refinery sectors.
The Sensex took less than two years to rally from the 10,000-mark it first hit in February 2006 to double that on that New Year's Eve.
The slowdown in capital expansion is clearly seen in the current financial year. Large sectors such as cement, metal, oil and gas, power and telecom have provided negligible funds in the first quarter for their capex plans.
ADAG, however, issued a statement saying that he visited the CBI as part of his weekly visit to Delhi.
In what is in effect a deposit to be paid into court pending a full trial in the case, Judge David Waksman has set a six-week timeline for Anil to pay $100 million to three Chinese banks as he concluded that he did not accept Ambani's defence that his net worth was nearly zero or that his family would not step in to assist him when "push came to shove".
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.
More asset sales may be only way out, though most of the group companies' ratings have been downgraded and their combined market value is now a fraction of their combined debt.
After a strong start to the week on Tuesday, the Sensex this morning opened 15 points higher at 16,868 amid subdued global cues.
Thirty stocks from various sectors form the Sensex.
Reliance Communications could become a much more formidable opponent.
Deal to help RCom reduce debt, Sun gain subscribers in new markets
BSE Midcap and BSE Smallcap indices settled the day 0.7% and 0.9% higher
Reliance Communications chairman Anil Ambani on Thursday met Finance Minister P Chidambaram and senior DoT officials, even as his company started examining the books of Hutchison Essar Ltd for a possible bid.
However, the IT firms will get some benefits, as software exports from their Chinese campuses will yield more in local currency
S&P BSE Sensex settled at 31,170, up 60 points, while the broader Nifty50 closed at record high for third straight session. It ended at 9,624, up 19 points.
Sebi has barred Allegro Capital and one of its senior executives from the securities market for one year in a case related to alleged insider trading activities in the shares of Biocon. Besides, the market watchdog has directed them to disgorge wrongful gains along with interest. The amount would be more than Rs 24 lakh. Allegro Capital and its director as well as major shareholder Kunal Ashok Kashyap have been fined Rs 10 lakh each, according to an order by Sebi dated July 8.
UV Asset Reconstruction Company Ltd has made the highest bid of Rs 16,000 crore to buy Anil Ambani group's Reliance Communications and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). Last year it was the highest bidder for taking over Aircel's assets for an upfront payment of Rs 150 crore. Surajeet Das Gupta and Dev Chatterjee dig deeper to find out more about this little known company.
In spite of the high number of exits, Reliance group firms of both brothers continue to be darlings of small investors
If the apex court decides on a 15-year repayment tenure, it would pose a grave challenge for the debt ridden VIL.
Close to $18 billion that Reliance Jio and Reliance Retail mopped up from a slew of private equity transactions in 2020 has pushed up the money inflows through this route by 108 per cent to $33.8 billion, according to an industry report. As per the data collated by Refinitiv, private equity investments increased 108 per cent in 2020 over the previous year, with the number of deals jumping from 665 in 2019 to 791 in 2020 at $33.8 billion, despite the pandemic. In 2019, total PE deals stood at $16.2 billion. Most of the fund inflows were in the third quarter, fetching $24 billion, which, however, tapered off in Q4 to just about $4.57 billion, as per the data from the agency that tracks financial transactions at a global level.
Typically these are high-beta stocks and earnings are volatile
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