The last time a bear attack was launched on a controversial businessman was when a cabal of brokers launched an assault in the early 1980s on what they thought was an over-priced Reliance share, recalls T N Ninan.
Sources, however, said that the company has entered into a deal with some American and European investors for the pre-IPO placement. The latest deal values the company at around Rs 50,000 crore (Rs 500 billion) while the earlier 5 per cent stake dilution that Reliance Infratel had made, valued the company at about Rs 28,000 crore (Rs 280 billion).
HDFC bank and Reliance Communications have launched India's first virtual credit card. HDFC credit card users can use their Reliance mobile phones to make payments.
Seeking to bring share trading closer to consumers just like ATMs, Reliance Capital's stock brokerage arm Reliance Money launched on Monday Internet trading services through web-enabled retail kiosks.
In August 2021, Nick Read, chief executive of Vodafone Plc at the time, did not mince his words while speaking about the India business in an earnings call. Replying to an analyst's question on Vodafone Idea, a venture with the Aditya Birla Group that had piled on huge debts and worrisome losses, Read described it as a highly stressed situation that "they (Vodafone Idea) are trying to navigate... "We, as a group, try to provide them as much practical support as we can, but I want to make it very clear, we are not putting any additional equity into India.''
From its lows this month, the stock of Bharti Airtel is up 14 per cent. The gains for the telco have come on the back of expectations that market share consolidation, tariff hike and lower capex should boost margins and profits. While the company is a key player in the Indian market, it also has a leadership position in major markets of Africa.
With the latest spectrum acquisition, the telecom venture would be the holder of the largest quantum of liberalised spectrum.
The company's first apparel store will be launched in Gurgaon in October with 22 in-house retail brands and a team of 76 designers tapping the men, women and kidswear segment.
The new fund, which is different from gold exchange traded funds that require subscribers to have a demat account, will also offer investors the option to invest as little as Rs 100 per month, the company said in Mumbai.
Given the hydrogen connection, it's ironic that Hindenburg Research released a long report, accusing the Adani group of financial manipulation, observes Devangshu Datta.
Selling in index heavyweights, including Infosys, TCS, ICICI Bank and Reliance Industries, dragged the benchmark indices into the negative for the second straight session, analysts said. Among the Sensex shares, Asian Paints fell the most by 3.9 per cent as analysts expressed concerns over rising competition in the domestic paints market following the entry of Aditya Birla group company Grasim Industries into the paints segment. IT shares Infosys, TCS, HCL Tech, Wipro and Tech Mahindra continued to slide amid inflation concerns in the US market.
A war of words between Reliance Industries' Gautam Chikermane and hacker group Anonymous India broke out on Twitter.
This is not the first time Reliance has eyed a stake in the club.
RInfra's plan to lease out headquarters property may face legal hurdle. Moreover, PE players with balance sheets that can take on Reliance Centre Office in Santacruz would be limited and include a handful of players such as Blackstone group, GIC, Brookfield Asset Management and Maplewood Investments.
As many as 49 players including Reliance Retail, Jindal Power Ltd and Adani group have submitted Expression of Interest (EoI) for acquiring the assets of debt-ridden Future Retail, which is currently going through insolvency resolution process. Reliance Retail Ventures Ltd, which is the holding company for retail operations of RIL and April Moon Retail Private Ltd, a joint venture between Adani Airport holdings and Flemingo group have again submitted their EOI, after the lenders of Future Retail decided to invite fresh bids after dividing FRL's assets into clusters. According to an update from FRL's Resolution Professional, the 49 players would be permitted to submit "resolution plan(s) for any/all such Clusters under Option II".
RTL had challenged Special Judge O P Saini's decision to put it on trial, saying it never held stakes in excess of 9.9 per cent in Swan Telecom and that too was divested prior to the grant of licences in 2008.
Tata group firm Trent Ltd on Friday said Anil Ambani-promoted Reliance Capital has bought 8.68 per cent stake in it for Rs 21.2 crore (Rs 212 million), marking ADA Group's entry into the retail sector.
Reliance Industries' (RIL's) consumer business is expected to lead earnings growth in the Q3FY24 performance, according to analysts. While the energy business is expected to show sequential weakness, the consumer business, especially retail, is estimated to show strong growth. The oil-to-telecom conglomerate will announce its Q3FY24 financial results on Friday.
Anil Dhirubhai Ambani group firm Reliance Mutual Fund retains its position as the country's largest fund house having assets of over Rs 48,000 crore (Rs 480 billion).
As Singapore, New York and Melbourne have shown, cities can mitigate the impact of heatwaves if they have the will to create green infrastructure, explain Amit Kapoor & Bibek Debroy.
The company has reorganised the Big Cinemas operations into geographies to adequately support its expansion in regional markets, Reliance MediaWorks said in a filing to the Bombay Stock Exchange. Big Cinemas would focus on the company's operations in North, East and Central India.
Hospital chain Aster DM Healthcare's plans to sell its Gulf business may run into rough weather with voting advisory firm Institutional Investor Advisory Services (IiAS) raising concerns over the transaction. Recommending an 'against' vote on the resolution, IiAS has said there is no clarity on how Aster DM will utilise the proceeds that it will obtain by selling the unit, which contributes to bulk of its revenues. In November, Aster DM had announced its plans to sell its wholly-owned subsidiary Affinity Holdings, which conducts business in the Gulf Cooperation Council (GCC) region, to Alpha GCC for $1 billion.
Reliance Communications has proposed an entry fee of Rs 150 crore (Rs 1.5 billion) for metro circles and Rs 100 crore (Rs 1 billion) for category B circles for getting 3G spectrum.
Technology companies continue to be the most valued brands globally, with the top five most valued companies from the technology sector, according to Brand Finance 2024. Samsung has entered the top five most valued brands globally. Apple secured the first position after falling to the second spot in 2023.
RIL, however, remains miles ahead of TCS in other financial parameters such as total revenue, operating profit, net worth, assets, and market capitalisation.
Funds raised by India Inc. through offshore loan syndication hit a 15-year high in 2023 with companies and banks raising $21.4 billion, the highest since 2007. The momentum is expected to continue in 2024 as well with over $4 billion fund raising expected in the first three months of this year. Companies raise funds, both onshore and offshore, depending on interest rates and activities. Funds raised offshore can be deployed in overseas activities.
Three leading domestic voting advisory firms are not on the same page over the proposed demerger and separate listing of ITC's hotel business, ITC Hotels. Institutional Investor Advisory Services (IiAS) has recommended a vote "against" the resolution, while InGovern and Stakeholders Empowerment Services (SES) have advised their clients to vote in favour. Voting on the resolution is currently underway.
Taking forward the promised consolidation of its telecom businesses, the board of Anil Ambani-controlled Reliance Communications Ventures Ltd would meet in Mumbai on Sunday to consider merger of Reliance Infocomm with itself.
On the eve of the Board meeting of the Reliance group company IPCL, Anil Ambani has stepped up pressure against Anand Jain, a close associate of his elder brother Mukesh, by demanding an 'independent' report on Jain's business dealings with the compa
Reliance Infocomm on Thursday announced new schemes for its four important prepaid user segments - youth, semi and urban groups and rural segment in Tamil Nadu.
Company launches claim guarantee scheme for customers.
Zudio was the standout performer as it tapped into the pentup demand in small-town India, at a pace never seen before, notes Indrajit Gupta, co-founder and director, Founding Fuel.
"We remain open to opportunities if appropriate valuations come up," said Reliance MF CEO Sundeep Sikka. Reliance MF, which is India's biggest mutual fund in terms of assets under management, has also become the first fund house to cross an average AUM of Rs 1 lakh crore. "Consolidation has already started in the industry and, going forward, only top 5-7 fund houses would command the major chunk of funds as investors will have confidence in large fund houses," Sikka said.
Flag Telecom and Pivotal Pvt Equity, the company, which had made an offer to acquire the former at a price higher than that offered by Reliance, have "mutually" decided not to pursue their discussions.
RCom's employee cost declined by 20.7 per cent.
