Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced the buyout of British battery maker Faradion Ltd for an enterprise value of 100 million, as the oil-to-retail conglomerate continued with the acquisition of end-to-end technology for its multi-billion-dollar clean energy portfolio. Reliance New Energy Solar Ltd (RNESL), a unit of the nation's most valuable company, signed definitive agreements to acquire 100 per cent shareholding in Faradion for an enterprise value of 100 million and will invest an additional 25 million as growth capital to accelerate the commercial roll-out, the company said in a statement. Based out of Sheffield and Oxford in the UK and with its patented sodium-ion battery technology, Faradion is one of the leading global battery technology companies.
India and China recently held a fresh round of high-level military talks to resolve the border row that witnessed both sides agreeing to maintain "peace and tranquillity" on the ground but there was no indication of any breakthrough.
Qualcomm launched its new affordable, India-designed chipset, the Snapdragon 4s Gen 2, on Tuesday. This chipset will enable mobile device makers to sell 5G smartphones operating on a standalone (SA) network for Rs 8,300 or less.
Reliance has a 24 per cent conversion rate of 'oil-to-chemicals' at present and may be targeting 70 per cent conversion.
The junior Ambanis - Anmol and Anshul - were inducted on the board to respect the wishes of the shareholders who during the recent AGM asked the management to get fresh blood into the company by bringing them on board.
The setting up of STEAG is part of the Army's efforts to develop technologies considering the future battlefield, they said.
GenNext Innovation Hub is also pursuing a new global partnership program to collaborate with organizations in US, Europe and Asia.
The 3-year partnership to set up a pan India initiative to catalyse the country's technology startup ecosystem was signed today by R A Mashelkar, Chairman, GenNext Ventures and Board Member, RIL, and Bhaskar Pramanik, Chairman, Microsoft India.
While Ambani, 66, drew nil salary from the company since the 2020-21 fiscal year, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission. His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm.
Creating an LLM trained on Indian languages is not easy. Experts say each language in India has a nuance of its own, so creating a ChatGPT-like product is an ambitious challenge.
Ecorithm's powerful suite of technologies can be applied to build systems and various other enterprise solutions to improve operations.
General Pande said the northern border region has been peaceful and steps have been taken to maintain peace through established protocol and existing mechanism.
Gen Rawat said the world looks at India as a country that can balance the rise of China in the region as it was showing its 'assertiveness'.
The Indian Navy on Monday unveiled a 15-year plan to boost maritime infrastructure even as Chief of Naval Staff Admiral R Hari Kumar said the force is working with the Army and the IAF to ensure tri-services jointness and integration to meet future challenges.
In line with the government's vision of 'Aatmanirbhar Bharat', the ministry of defence on Thursday signed contracts with Indian shipyards for the acquisition of 11 next generation offshore patrol vessels and six next generation missile vessels at a cost of nearly Rs 19,600 crore, officials said.
Reliance Industries Ltd, whose offering of rock-bottom tariffs shook up the telecom industry, is looking to repeat the feat in the green energy business, where its billionaire chairman Mukesh Ambani sees promise to outshine all existing growth engines in 5-7 years. Having pledged Rs 6 lakh crore on green energy, Ambani says RIL will scale up investments in this business which will start going live in the next 12 months. "Over the next 12 months our investments across the Green Energy value chain will gradually start going live, scaling up over the next couple of years," Ambani, chairman and managing director of RIL, said in the company's latest annual report.
Deal comes within days of Abu Dhabi's TAQA pulling out of agreement.
Newly-appointed Army Chief General Manoj Pande on Sunday said his 'utmost and foremost' priority would be to ensure very high standards of operational preparedness to face current, contemporary and future security challenges across the entire spectrum of conflict.
In a move towards gender inclusion, Tamil Nadu has partnered Godrej Consumer Products (GCPL) to offer a 5 per cent job reservation for LGBTQAI+ and people with disabilities at GCPL's upcoming fast-moving consumer goods manufacturing unit in Thiruporur in Chengalpattu district. According to industry experts and activists, while companies acknowledge transgender communities, this is the first time the entire spectrum of gender minorities, including lesbian, gay, bisexual, transgender, queer/questioning (one's sexual or gender identity), asexual and intersex, is receiving such a notable share of job participation in the private sector while signing memoranda of understanding with states.
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.
The warships will be armed with BrahMos supersonic cruise missiles which can reach targets 295 km away.
Lt Gen Dwivedi, who was referring to the clash between the Indian soldiers and Chinese troops in the Galwan Valley in June 2020, also said that PLA's aggression in eastern Ladakh was met with "swift mobilisation and appropriate force posturing".
A young couple sharing a laugh - in the living room over a Polish joke book, on the beach, in the rain - with the tagline, "Made for each other", hung from billboards at prominent street corners from the 1960s to the 1990s. It was a campaign for one of the largest selling cigarette brands in India, Wills (Navy Cut) from the ITC stable, that resonated with a generation of smokers and non-smokers alike till the curtains came down on tobacco advertising in 2004. As we prepare to welcome 2024, ITC has metamorphosed from a tobacco giant into a conglomerate straddling multiple large-sized businesses. In the mind space of Gen Z or millennials, the company represents a gamut of branded products - from frozen food (ITC Master Chef), noodles (YiPPee!), and cookies (Sunfeast) to snacks (Bingo!) and notebooks (Classmate), and so on and so forth.
As record stock market rally continues, the value of shares directly owned by next-generation business leaders at 20 major corporate houses has soared over 18 per cent to Rs 17,000 crore.
According to software company Mavernir, the new virtualised networks would lead to a saving of 40 per cent in capex and 34 per cent in terms of lower operations cost for operators.
Commercial services may start in Mar-Apr next year
These next generation ships can patrol the oceans for three or four months compared to the navy's current patrol boats, which can be at sea for a maximum of 45 days.
'The JF-17 is the aircraft of today and the Tejas is the aircraft of tomorrow.'
The army chief said that India needs to broaden its understanding of national security and must examine non-traditional threats like pandemics "de-novo" as they have the potential to inflict severe damage on the country. "We need to act and prepare ourselves accordingly."
Historically, India has never been expansionist in its outlook and her approach has always been of peaceful coexistence and one designed to deter the forces of terror and disruption.
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The new entity will continue to work on technologies in areas like healthcare and education, while also looking at next-gen competencies like artificial intelligence, Blockchain, virtual and augmented reality, among others.
There could be significant announcements about India's purchase of Kamov-226T helicopters, S-400 air defence missile systems, and the long-delayed contract for joint development of the Fifth Generation Fighter Aircraft.
Singh also said that Indian troops are standing firm braving extreme weather and hostile forces to defend the country's territorial integrity.
The Big Two telecom companies have accelerated their moves towards this next-gen technology, though they have chosen very different routes to getting there.
In his opening remarks at the talks, Defence Minister Rajnath Singh asserted that India is confident of overcoming the challenges with a strong political will and an inherent capability of its people.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
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Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
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