The group's telecom arm, RCom, saw its shares plunge by 8.11 per cent to a low of Rs 71.35 in morning trade, while Reliance Capital tumbled by 9.91 per cent to a 52-week low of Rs 323.55 on the Bombay Stock Exchange.
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-'.
The Adani group said Reliance Infrastructure, part of the Reliance Anil Dhirubhai Ambani Group, had initiated arbitration on one specific dispute under the Share Purchase Agreement (SPA) in December 2021 with a claim for just Rs 500 crore. Adani said it has filed counterclaims against the Ambani company. The Adani group firm, Adani Electricity was reacting to a Reliance Infrastructure statement of last week, which said it has filed an arbitration claim of Rs 13,400 crore against Adani Group in the Mumbai Centre for International Arbitration (MCIA). Reliance had cited a breach of a December 2017 share purchase agreement relating to the transfer of its Mumbai power distribution business to Adani Transmission.
Besides Carrefour, Reliance is also talking to tier-2 companies like Salisbury and Marks and Spencer for food business, sources said. When contacted, an RIL spokesperson in Mumbai declined to comment.
While GBP 50 million is earmarked for grassroots and recreational cricket, the 18 English county teams will get a share of GBP 470 million with larger pie allocated for those clubs that don't own a 'Hundred Franchise'.
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.
Prithvi Raj Singh Oberoi, chairman of the Oberoi group of hotels, says many people had approached him for picking up stake in EIH, but their investment objectives were not compatible with the company's.
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.
Of the 156 LCH, 90 would be for the Indian Army while 66 would be for the Indian Air Force.
The Central Bureau of Investigation on Friday informed the Delhi high court that its appeal against the acquittal of former telecom minister A Raja and 16 others in the 2G spectrum allocation case was 'ripe for hearing'.
Reliance Industries Ltd will acquire German firm Metro AG's wholesale operations in India for Rs 2,850 crore as the conglomerate run by billionaire Mukesh Ambani seeks to strengthen its dominant position in India's mammoth retail sector. "Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Ltd, signed definitive agreements to acquire a 100 per cent equity stake in Metro Cash & Carry India for a total cash consideration of Rs 2,850 crore, subject to closing adjustments," said a joint statement. Through this acquisition, Reliance Retail will get access to a network of Metro India stores located in prime locations across key cities, along with a large base of registered kiranas and other institutional customers, and a strong supplier network.
The Squad seeks to counter China's power assertions in the South China Sea region.
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.
Future Retail Ltd has said that SEBI's one-year ban on its chairman Kishore Biyani and some other promoters from the securities market will have "no impact" on the Rs 24,713 crore-deal with Reliance. Further, Kishore Biyani, some other promoters and Future Corporate Resources Pvt Ltd (FCRPL) plan to appeal against the order passed by Securities and Exchange Board of India (SEBI) on Wednesday. "The order will have no impact on the ongoing Scheme of Arrangement of the company. We understand that the relevant parties propose to challenge this order in exercise of their statutory right to appeal," Future Retail Ltd (FRL) said in a late-night regulatory filing on Wednesday.
Aditya Birla Group has announced its foray into the branded jewellery space with an investment of around Rs 5,000 crore and will battle it out with Titan's Tanishq and Reliance Industries- Reliance Jewel. The business will be housed in a new venture, "Novel Jewel", and will open large-format exclusive stores across the country with its in-house jewellery brands, the company said in its release. "The new venture will seek to transform customer experience by creating an aspirational national brand with unique designs and a strong regional flavour.
For two reasons. One, BSES has bid for Enron's Dabhol Power Company and because it has also entered into telecom, says Sucheta Dalal.
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.
The Mission Olympic Cell is also considering higher incentives for retired Olympians and world-class players who want to take up coaching, in an effort to retain top talent within India.
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
Anmol, who has a degree from Warwick Business School in the UK, has also been visiting branches and meeting employees across businesses in different regions to get exposure and detailed understanding of businesses at grass-root level in the past two years
Corporate giant Reliance Industries Ltd is looking at setting up a 2,000-3,000 MW, green field, mega power project in Uttar Pradesh -- involving an investment of at least Rs 8,000 crore (Rs 80 billion).
In a statement issued from New Delhi, Ambani-led Reliance group, however, said that no charges have been levelled against them by the UK regulators in these proceedings.
Reliance Defence Limited and Russia's leading developer and manufacturer of Air Defence Missile Systems 'AlmazAntey' have decided to work jointly on the entire range of Air Defence Missile and Radar Systems that are required for Indian defence forces.
It termed reports of the Ambani family looking to make the 300-acre country club in Buckinghamshire, Stoke Park their primary residence, as 'unwarranted and baseless speculation'.
The deal gives a valuation of over $4 billion to Paytm, which is already backed by Alibaba group as a strategic investor.
The company and its three officials are facing a criminal case under the Official Secrets Act over the alleged recovery of some secret documents during search of the office premises of V Balasubramanian, the then group president of Reliance Industries, in 1998.
From the 30-share Sensex pack, Bharti Airtel, Mahindra & Mahindra, UltraTech Cement, Adani Ports, Reliance Industries, Larsen & Toubro, JSW Steel, Hindustan Unilever, Titan and Tata Motors were the biggest gainers. Power Grid, Nestle, State Bank of India and Infosys were the laggards.
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.
In the past as well, questions have come up about the manner in which different benches of the apex court were constituted to resolve disputes involving the Reliance group.
Mayank Yadav, who made his comeback after a long injury lay-off, returned with figures of 2/40 in four overs as he bowled in the range of 140kmph.
Railways ramps up project to instal AI-based cameras that can recognise faces.
The Mukesh Ambani-led Reliance group ended 2007 by overtaking the Tata group in market capitalisation stakes and this despite the latter's acquisition of Corus steel. Last year's number one, the Tata group, is now a distant number two with a market capitalisation of Rs 3.20 trillion.
Ambani and Adani account for a fifth of the net worth of all billionaire promoters in the country and half the combined net worth of the top 10.
