The Competition Commission has approved Reliance's proposed acquisition of retail, wholesale, logistics and warehousing businesses of Future Group. The Rs 24,713 crore deal that would boost Reliance Industries' fast growing retail business was announced in August. In a tweet on Friday, the regulator said it has approved "acquisition of retail, wholesale, logistics & warehousing businesses of Future Group by Reliance Retail Ventures Limited and Reliance Retail and Fashion Lifestyle Limited".
Increasing cooperation in critical minerals will top Prime Minister Modi's agenda during his discussions with leaders of Ghana, Argentinia, Brazil and Namibia.
Two Reliance group firms - Reliance Consumer Products Ltd (RCPL) and Reliance Retail Ventures Ltd (RRVL) - have announced an open offer to acquire a 26 per cent additional stake in Lotus Chocolate. The firms will together acquire 33.38 lakh shares of Lotus Chocolate from the open market at a fixed price of Rs 115.50 per share, said a notice by DAM Capital, which is managing the offer. The offer will aggregate to a total consideration of Rs 38.56 crore over the full acceptance, said an open offer-detailed public statement shared by the company with stock exchanges on Thursday.
Even as New Delhi turns up the heat on Turkish firms over Ankara's public embrace of Islamabad, Indian companies rooted in Trkiye are staying put. Mahindra & Mahindra (M&M), Dabur India, and Jubilant FoodWorks say it's business as usual, with no plans to alter course despite the geopolitical chill.
Inventories of rare earth magnets used in critical automotive components - particularly electric vehicle (EV) traction motors and power steering systems - could run dry by mid-July this year, according to rating agency Icra.
Flipkart Group Chief Executive Kalyan Krishnamurthy on Monday said the firm was advancing preparations for a potential initial public offering (IPO) in India, which included shifting its holding company to India from Singapore. Speaking at an internal town hall, Krishnamurthy said the company's leadership structure is strengthening and that the steps toward relocating Flipkart's legal base to India are progressing as planned, according to people familiar with the matter.
Only a limited set of investors should invest directly in corporate bonds.
As part of a plan to refinance debt and expand its upcoming constellation of satellites, French satellite major Eutelsat Communications will raise euro 1.35 billion, or $1.55 billion, through a reserved capital increase and a rights issue, the company announced on Friday. Bharti Enterprises' space venture, Bharti Space Ltd, will invest euro 31.4 million, or $36 million, in the capital raise.
Kotian, who played a vital role in Mumbai's Syed Mushtaq Ali triumph this season, has been a consistent performer on the domestic circuit.
Future group firms have started getting large orders from Reliance Industries, its CEO Kishore Biyani said in an email to his employees on Tuesday. The group firms Future Consumer and Future Enterprises have recently received orders from Reliance Industries. This will be a big support for the cash-strapped future group firms before the completion of Rs 24,713 crore buyout of the country's second-largest retailer by Reliance Industries' arm. Ecommerce major Amazon has raised objections over the deal.
Singh, who opened up the economy as finance minister and served as prime minister for two consecutive terms, died on Thursday at the age of 92. "History will forever honour his pivotal role in the transformative 1991 reforms that reshaped India and opened its doors to the world.
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.
Stock market benchmark indices Sensex and Nifty tumbled over 1 per cent each on Friday as tensions soared between India and Pakistan, fuelling fears of a wider conflict.
The fear of losing purchasing power due to inflation and low-interest rates has led many to explore safe alternatives to fixed deposits with high returns
It bought Rs 410 crore of electoral bonds between financial years 2021-22 and 2023-24, but Reliance said the company is not a subsidiary of any Reliance entity.
M R Srinivasan focused on the peaceful use of nuclear power at a time when the popular view among the 'hawks' was that India should build a nuclear arsenal as a deterrent.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
Shares of Future Group firms on Monday faced heavy drubbing, tanking up to 20 per cent, after Reliance Industries said its Rs 24,713-crore deal to acquire Future Group's assets cannot be implemented after secured creditors of the Kishore Biyani-led companies voted against the proposal. The stock of Future Consumer plummeted 19.91 per cent, Future Supply Chain Solutions slipped 19.96 per cent, Future Lifestyle Fashions 19.89 per cent, Future Enterprises tumbled 9.87 per cent and Future Retail fell 4.96 per cent on the BSE. Shares of Reliance Industries also dipped 1.75 per cent.
Odisha sprinter Animesh Kujur ran a blazing 200m race as he smashed the 200m national record, clocking 20.40 seconds to win the gold medal.
Billionaire Mukesh Ambani's Reliance Industries Ltd is estimated to have earned 724 million euros (about Rs 6,850 crore) from exporting fuel made from Russian crude oil to the US in one year, an European think tank said in a report. "From January 2024 to the end of January 2025, the US imported EUR 2.8 billion of refined oil from six refineries in India and Turkey that process Russian crude.
Reliance Brands is in advance stage of talks to take over the India rights for premium makeup and beauty retail chain Sephora, from Arvind Fashions, according to two persons in the know. The Mukesh Ambani-led retail company is already in talks with developers to lease out stores for Sephora, said one of the above mentioned sources. While Reliance Brands was yet to answer Business Standard's query, an Arvind Fashions spokeperson, in an e-mailed response, said: "As per company policy, we do not comment on market rumours and speculation."
Having created businesses ranging from world's largest single-location oil refining complex to nation's largest mobile network operators in just few years, billionaire Mukesh Ambani says his group Reliance Industries Ltd will never be complacent and will grow to be among the top 10 business conglomerates of the world. Addressing employees on Reliance Family Day - the birthday of the group's founder Dhirubhai Ambani, he said Reliance is now aiming to consolidate a place among global leaders in digital data platforms and AI adoption. "Today, the domestic and global environments for business are changing very fast.
The stock of India's largest listed pure play retail major Trent was down 14.76 per cent at close on Monday after a fall in revenue growth for the March quarter of 2024-25 (Q4FY25). The sales growth trajectory has been in a declining trend over the last few quarters, which, coupled with falling operational metrics, higher competitive intensity, and expensive valuations, has seen the stock crack about 44 per cent since its 52-week highs in October last year.
Qwik Supply, the third largest donor to political parities using electoral bonds, bought Rs 410 crore bonds between 2021-22 and 2023-24, and gave all but Rs 25 crore to the BJP.
Coal-to-airports conglomerate Adani group is set to make a splash in the tech world. The group is considering the creation of customised artificial intelligence (AI) models for commercial prospects and consolidating digital services on a super app, according to people in the know. The Adani One app, part of its consumer-facing businesses, is reportedly in talks to expand into e-commerce and digital payments, according to a Financial Times report.
With general government debt now approaching three-quarters of GDP, and only incremental reform efforts visible, Pakistan risks prolonging its economic stagnation unless fundamental governance, regulatory, and industrial overhauls are undertaken.
Reliance Industries on Saturday said its Rs 24,713-crore deal with the Future Group cannot go ahead as secured creditors of the latter have voted against it.
The Reliance Industries' digital services company Jio Platforms Limited has signed an agreement with SpaceX to offer Starlink's broadband internet services to its customers in India, the company said on Wednesday. The agreement is subject to SpaceX receiving authorisation to sell Starlink in India. The development came a day after Jio's rival Bharti Airtel signed a similar pact with SpaceX.
India's versatile media and entertainment industry can grow more than three-fold to $100 billion in the next decade, creating millions of jobs and a ripple effect across sectors, billionaire Mukesh Ambani said on Thursday.
Railways ramps up project to instal AI-based cameras that can recognise faces.
In a fresh twist in the fight to gain supremacy in the Indian retail market, billionaire Mukesh Ambani's Reliance Retail has slapped notices on Future Retail for terminating sub-leases of 950 stores it had taken over previously. In stock exchange filings, the Kishore Biyani-led debt-laded Future Group firms said they have been served notices to terminate the lease of 835 Future Retail stores and 112 Future Lifestyle stores. Last month, Reliance Retail had taken over store spaces for which the Future Group couldn't pay lease rent. These were then sub-let to the Future Group for operation.
'We've moved from thousands killed yearly in Jammu and Kashmir to 127 last year.' 'Cross-border terrorism in Kashmir is being solved. We are winning it.'
The Squad seeks to counter China's power assertions in the South China Sea region.
Listed companies of the Kishore Biyani-led Future group on Saturday informed exchanges about meetings of their respective shareholders and creditors being convened on April 20 and 21 to get their approval for the Rs 24,713-crore deal with Reliance Retail. Listed entities, including Future Enterprises Ltd, Future Retail Ltd, Future Consumer Ltd and Future Supply Chain, informed exchanges about dates and other procedures for the virtual meetings of shareholders and creditors. The meetings are held virtually through video conferencing and other audio-visual means, the addendum notice added.
The Supreme Court on Monday dismissed a plea filed by Sebi against a Securities Appellate Tribunal order which set aside the penalty imposed by the market regulator on RIL chairman Mukesh Ambani and two other entities in a case related to alleged manipulative trading in shares of the erstwhile Reliance Petroleum Ltd (RPL) in November 2007. A bench of Justices J B Pardiwala and R Mahadevan said it was not inclined to interfere with the order passed by SAT.
Of the 156 LCH, 90 would be for the Indian Army while 66 would be for the Indian Air Force.
The Reserve Bank of India's action against Reliance Capital comes at a time when the Anil Ambani group was planning to make a comeback with the group company, Reliance Infrastructure, raising funds from the promoter family. As part of the comeback plan, Reliance Infrastructure received Rs 550 crore fund infusion from the Anil Ambani family. A month earlier, Reliance Power, a listed subsidiary of Reliance Infrastructure, also raised funds from its parent by issuing preferential allotment of shares thus increasing the stake of Reliance Infrastructure in the company.
'This is the Bengal story, where businesses are nurtured, dreams are realised, and legacies are built.'
Fitch Ratings has removed energy infrastructure company Adani Energy Solutions Ltd (AESL) from its 'Ratings Watch Negative' list, the first upgrade by an international ratings agency since the US indictment. Fitch affirmed AESL long-term foreign and local-currency issuer default ratings (IDRs) at 'BBB-'.
Weighed down by the oil-to-chemicals (O2C) business, Reliance Industries (RIL) results for the April-June quarter (Q1) of 2024-25 (FY25) missed Street estimates. A 14 per cent fall in the O2C segment's operating profit compared to the year-ago quarter and a 22 per cent sequential decline pulled down the consolidated performance. The O2C segment accounts for a third of the overall operating profit and about 60 per cent of the attributable consolidated profit.
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