Reliance Industries Ltd's focus on the next hypergrowth opportunities in clean tech and its path to decarbonisation has the potential to spur re-rating, raises clarity on investment cycles and reduces investor worry, brokerages said. RIL chairman Mukesh Ambani at the company's 'Green AGM' on Thursday committed Rs 75,000 crore over the next three years to set up an integrated Green Energy Giga Complex across 5,000 acres in Jamnagar, Gujarat which will contain four giga factories. The complex, which would be one of the world's largest renewable manufacturing facilities, would have an integrated solar photovoltaic module factory, an energy storage battery factory, electrolyser manufacturing for hydrogen production, and manufacturing of fuel cells so that hydrogen can be used in transportation.
Leading industrialist, Mukesh Ambani,on Friday said the trend of rising energy prices is a matter of great concern and that it could rise further to three-digits going forward.
RIL's stake in Network18 would reduce to 64 per cent, from 75%, following the merger
'We have discontinued or replaced certain contractual staff, total number not exceeding double digits, in the north India operations involved in activities under the discretionary cost head,' a Reliance Industries spokesperson said in reply to an e-mailed query sent by Business Standard. According to some employees, who claimed to have been retrenched, the number of laid-off people is much higher. However, the company denies this.
Airtel Digital TV, the DTH arm of Bharti Airtel, is launching its High Definition service, with set top boxes (STBs) priced at Rs 2,840, further fuelling the price war in the sector.
If raters get away by moving from AAA to D overnight after companies default, as happened with DHFL, YES Bank, RCom, and IL&FS, it shows a complete breakdown in the rating system. It calls for exemplary punishment, not kid glove treatment, says Debashis Basu.
Justice Rajiv Shakdher, who was hearing a plea by Bollywood producers seeking to restrain them from making irresponsible remarks, listed the matter before the Joint registrar for January 18 for completion of pleadings and admission/denial of documents.
The move to allow payments through digital wallets could give a fillip to distribution and reach for these investment vehicles, say experts.
Apart from a stake buy, some other options on the table include a merger of the entertainment businesses of Sony and Network18 Media.
Hailing Prime Minister Narendra Modi and the Bharatiya Janata Party government, top industry captains pledged mega investments at the Vibrant Gujarat Global Summit
As IT midcap stocks ride high, it has created speculation around a potential bubble with analysts picking the midcaps' client concentration as the biggest concern area.
Investments totaling over $9.5 billion in Jio Platforms by a clutch of private equity firms, following social media giant Facebook's $5.7 billion mid-April investment in the company, helped overall.
In large format outlets such as Croma, E-zone and Reliance Retail, digital cameras are only next to cellphones in drawing customer traffic, say industry experts.
The framework for new licences will be ready by end of this financial year.
Total income from operations, however, dipped 27 per cent to Rs 68,261 crore.
Anmol Ambani, the eldest son of industrialist Anil Ambani, has lashed out against a new round of lockdowns being imposed amid the surge in COVID-19 cases, saying such restrictions do not concern health but control and that they destroy the very backbone of the society and economy. The 29-year-old former executive director of Reliance Capital Ltd in a series of tweets lambasted the new semi-lockdown rules hurting small businesses and daily wage earners. "Professional 'actors' can continue shooting their films. Professional 'cricketers' can play their sport late into the night. Professional 'politicians' can continue their rallies with masses of people. But YOUR business or work is not ESSENTIAL. Still don't get it?" he said in a tweet.
Reports have put the IPO pipeline between 19 and 30 issues, of Rs 10,000-20,000 crore or Rs 100-200 billion.
The Hinduja Group, Mukesh Ambani, Murugappa, and the Adani groups were the other gainers in the Modi regime, while Naveen Jindal and Sun Pharma groups saw the most erosion in their m-cap in the last five years, reports Krishna Kant.
Analysts expect RIL to report consolidated revenue of Rs 1.40 trillion and 10 analysts expect RIL's net income to be Rs 9,629 crore
With telecom disruptor Reliance Jio not raising tariffs, incumbents Bharti Airtel and Vodafone Idea are focusing on the minimum monthly recharge and higher first recharge offers to ensure they retain only loyal and revenue-incremental subscribers, reports Romita Majumdar.
Some of India's biggest employers are testing for antibodies to either comply with regulatory norms or gauge the effectiveness of precautionary measures.
The earnings are, however, expected to be down around 2 per cent on a sequential basis due to pent-up demand getting exhausted and the adverse impact of rising metals and energy prices on consumer goods and manufacturing companies.
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.
As cinemas remain shut and watching movies on big screen still a distant dream, OTT platforms are keeping us distracted from the pandemic with its steady supply of content.
Telcos likely to get to switch from 2,300-MHz band for 4G services.
Mukesh Ambani remains the country's wealthiest promoter as his stake in Reliance is now worth Rs 3.25 trillion!
Given the security dilemma prevailing between India and China, India should curb the operation of Chinese telecom companies in India, asserts Dr Rup Narayan Das.
In the second part of this four-part special, Joginder Tuteja lists the new releases of 2021.
'Seen in the context of world turmoil in face of the pandemic and the Chinese 'miracle' of being the only country in the world to control it, this is not merely a 'Sputnik' moment, but a 'Sputnik Plus' moment,' argues Colonel Anil A Athale (retd).
The lower sales growth rate is on account of single-digit growth in sales by Reliance Industries (6.3 per cent), Reliance Energy (9.53 per cent), Hero Honda (5.48 per cent) and Biocon (7.52 per cent). Companies that posted a decline in sales included two-wheeler giant Bajaj Auto (- 3.03 per cent), pharmaceutical major Ranbaxy (-4.79 per cent) and Madras Aluminium (-11.13 per cent).
World leaders, including Modi, also inaugurated the Gandhi Solar Park at the UN headquarters here and released a commemorative stamp issued by the UN on the occasion of Gandhi's 150th birth anniversary.
There will be uncertainty about outcomes,but one must hope for the best, observes T N Ninan.
Ril's shale gas may be impacted due to fracking ban
'We are in the middle of an unprecedented SIP revolution.' 'Monthly inflow through SIPs will be Rs 15,000 crore to Rs 20,000 crore soon.' 'Traditional avenues of Indian savings like bank fixed deposits, gold or real estate are no longer attractive to invest.'
Shah said India's goal is to become a $ 5 trillion economy in the next five years and without contribution from the energy and petroleum sector, this goal can't be achieved.
State govt aims to make Hyderabad a 4G WiFi-enabled city by December.
'The mismatch between valuations and fundamentals is startling,' warns Devangshu Datta
IT major nears $100 bn m-cap, accounts for 61% of the group's combined valuation.
In spite of the high number of exits, Reliance group firms of both brothers continue to be darlings of small investors
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