India's top payments service provider Financial Technologies-promoted atom technologies, Visa and Reliance group's Reliance Securities have come together to enable 1 million customers of Reliance Securities to make online money transfers to their broking accounts through atom's payment solutions, using any Visa debit card.
Reliance ADA Group chairman Anil Ambani on Monday appeared before the Enforcement Directorate (ED) in Mumbai and recorded his statement in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. Ambani, 64, deposed at the office of the federal agency in south Mumbai. Ambani's statement was recorded as part of a fresh case filed under various sections of the Foreign Exchange Management Act (FEMA), the sources said without elaborating.
Billionaire Mukesh Ambani on Monday introduced daughter Isha as leader of his conglomerate's retail business as he details succession planning at India's most valuable firm. Ambani had previously named son Akash as chairman of the group's telecom arm, Reliance Jio. At Reliance Industries Ltd's 45th annual shareholders meeting, Ambani introduced Isha as leader of retail business as he invited her to speak on integrating WhatsApp with the retail business.
Communist Party of India-Marxist general secretary Sitaram Yechury described it as a "brazen destruction of the foundations of our democracy".
A possible merger of Reliance Communications of India and South Africa's MTN could see Anil Ambani become the enlarged group's chairman and biggest shareholder with a stake of almost 35 per cent.
'Rafale is an open and shut case and there is only one man who has done corruption'
RIL holds 45.43 per cent stake in RIIL as its promoter.
Industrialist Gautam Adani slipped out of the World' Real-time Billionaires list of Forbes on Friday and was placed in 22nd position. Gautam Adani's wealth had declined 21.77 per cent or $16.2 billion. The current net worth of the industrialist was $581.1 billion at 1.23 pm (IST) on Friday afternoon, while Reliance Industries Mukesh Ambani's net worth was at $82 billion.
Reliance Infocomm, the CDMA mobile phone operator, has joined hands with Indian Railways to offer for the first time train reservation facility on its Reliance IndiaMobile.
When contacted, REL Investors Forum Secretary 'Veekay', whose name was mentioned on the release along with two other persons -- Prakash Krishnan and Anil Upadhyaya -- told PTI that the forum members include 60-70 shareholders of REL. Investors in REL are feeling cheated with ADA group company RPL's proposed public issue, it noted.
The company expects net proceeds of Rs 53,036.13 crore from the rights issue that opens on May 20 and closes on June 3.
'Elections are fought to win.' 'In our party, the leadership takes the final decision, and our leaders are very clear about it.'
Culver Max Entertainment, formerly known as Sony Pictures Networks India (SPNI), has terminated merger agreements with Zee Entertainment, which could have otherwise created a USD 10 billion media enterprise in the country.
Anil Ambani Group firm Reliance Capital Partners on Tuesday said it along with two other group companies has acquired an additional 4,081 equity shares representing 0.01 per cent stake in Fame India, hiking their stake in the multiplex chain to 13.8 per cent.
According to Reliance Money officials, the company offers 5 gm and 8 gm coins now but plans are in the offing to launch 0.5 gm, 1 gm and 2 gm coins, said
The Reliance Dhirubhai Ambani Group revealed plans of venturing into the power equipment business.
Exit from Delhi Metro's airport express line
Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
Reliance reported record pre-tax profit from its retail and telecom businesses. The two now account for nearly 32 per cent of EBITDA, up from close to 25 per cent previously.
Anil Ambani Group firm Reliance Broadcast Network on Wednesday said it has completed its final negotiations with US media conglomerate CBS Corp to form a JV to own and operate TV channels.
Five companies, including NTPC, Reliance Power, Lanco Infratech, Jindal Power and Sterlite Energy, of the 11 pre-qualified bidders, were in the fray for the project. The financial and technical bids for the coal-based thermal power project were invited on December 29 and the final financial bids were to be opened within 15 days.
The Telecom Dispute Settlement and Appellate Tribunal has refused to give an interim order against Reliance's proposed roaming facility on WLL phones as the telecom regulator Trai said it was examining Reliance's reply.
Anil Ambani group firm Reliance Big Entertainment on Sunday made its foray into Hollywood, with the announcement of development deals with celebrities including Angelina Jolie, Julia Roberts, Brad Pitt and Nicolas Cage. Reliance Big Entertainment, the media and entertainment company of the Reliance ADA Group, said that it will provide development funds to eight Hollywood production houses. sources said the investment would be in the range of US$ 500 million to US$ one billion
Niira Radia had said friends in high places enabled favourable EGoM decision on Sasan coal diversion, a charge staunchly denied by Reliance Power.
Reliance Industries chairman Mukesh Ambani has overtaken Adani Group chairman Gautam Adani to become the richest Indian in the world with a net worth of $84.3 billion, according to Forbes Real-time billionaire list for 2023. Ambani overtook Adani after the Reliance Industries chairman's assets went up 0.19 per cent with an increase of wealth by $64 million while Gautam Adani's assets went down by 4.62 per cent with the industrialist's weath pegged at $84.1 billion according to the real time tracker of Forbes of 5 pm EST on Tuesday. Adani who figured among the top three billionaires in the world has dropped in the ranking to number 10 just below Mukesh Ambani.
He gave the department time till February 13 to provide a complete record of office notes, orders and correspondence in this regard.
Scale and frugal costing help the giant.
Mukesh Ambani has resigned from the board of his group's telecom arm, Reliance Jio and handed over the reins of the company to elder son Akash, a step seen as succession planning by the 65-year old billionaire. In a stock exchange filing, Reliance Jio Infocomm said the company's board at a meeting on June 27, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company." This comes after his father resigned with effect from close of working hours on June 27, it said.
Corporate India is busy restructuring - through mergers, demergers and splits. That seems to be the new normal as CXOs and boards brainstorm on how to create assets and value. The pitch rose significantly during the third quarter of this financial year (FY24), translating into $32.9-billion worth of such deals - the highest quarterly total since the HDFC Bank-HDFC merger announced in FY22 Q2.
Future Retail's independent directors had last week asked Amazon if it was willing to give a long-term loan to avoid default on repayment of Rs 3,500 crore loan due on January 29. Amazon replied to that saying it was willing to financially assist Future Retail through the Samara Capital deal but the retailer must shelve Rs 24,713 crore deal with the Reliance group.
Reliance Capital has agreed to acquire 100 per cent of the equity share capital of Travelmate Services (India), a wholly owned subidiary of the Kuoni Group
A Reliance Industries spokesman denied reports that its chairman Mukesh Ambani is bidding for a 51 per cent stake in Liverpool football club.
Anil Ambani group company Reliance Communications on Friday a market capitalisation of $20 billion, in line with the rise in stock markets.
Acquisition of stressed infrastructure assets has pushed its debt to over Rs 1 lakh crore, highlighting concerns about its growth strategy.
Mukesh Ambani has reclaimed the top position on the 2023 Forbes list of India's 100 Richest with a net worth of $92 billion. The fortune of infrastructure magnate Gautam Adani, who rose meteorically to overtake Ambani as India's richest person for the first time last year, has slipped to the second position. Adani's net worth, which includes that of his family, fell by a whopping $82 billion to $68 billion, after a report by US short-seller Hindenburg Research in January sent his group's shares tumbling.
It was clearly the beginning of a new era for the Anil Dhirubhai Ambani Group to start generation at what was not only their first, but also North India's first private sector thermal power plant in Rosa village on the outskirts of Shahjahanpur town in Uttar Pradesh.
Anil said the company is in the process of signing a contract with the Indian Coast Guard for the first defence order for 14 fast patrol vessels
"Any Reliance Money customer who has an Internet access through a GPRS or CDMA-enabled mobile phone can log in to the Reliance Money website using his or her existing user ID, security token number and trade in equities and commodities," said Reliance Money Director and CEO, Sudip Bandhopadhyay. With this initiative, the company will now be tapping approximately 347-million telecom users based in India.
