Indiawin Sports Pvt Ltd, the owner of Mumbai Indians IPL team that is currently leading the points table in the ongoing Twenty20 cricket tournament, has posted a net loss of Rs 15.42 crore for the fiscal year 2010-11.
Reliance Retail, the country's leading retailer which owns iconic British toy brand Hamleys and home-grown toy brand Rowan, has entered into a joint venture with a Haryana-based firm for local manufacturing to meet the growing demand. The company has entered into a joint venture with Sonipat, Haryana-based Circle E Retail to vertically integrate its toy business. "We also had a JV with Circle E retail for toy manufacturing for vertical integration for our toys retailing business," said Reliance Retail CFO Dinesh Taluja during an earnings call last week.
Companies seeking to tie up with nationwide pharmacy chain.
This marks the second billion-dollar investment by Silver Lake in a Reliance subsidiary after the $1.35 billion investment in Jio Platforms.
From the 30-share Sensex pack, Mahindra & Mahindra, Larsen & Toubro, State Bank of India, Reliance Industries, ICICI Bank and Bajaj Finance were the biggest gainers. JSW Steel and Infosys were the laggards.
Blaming RIL for delay in starting its Dadri power project, RNRL said it was RIL's wrongful conduct that delayed its gas-based power plant by four years. However, it had sought a direction to RIL to supply the gas immediatley to it. On July 7, the Supreme Court issued notice to RIL, RNRL and the Centre (as intervener) on cross-appeals by both the companies on their gas supply dispute.
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.
Justice A P Deshpande, who is hearing the petition by Anil Ambani-owned Reliance Transport and Travels Ltd staking claim over a lease of land for hangar, adjourned the hearing after its counsel sought time to inspect the documents on the lease agreement entered between Reliance Industries and Airport Authority of India. "We want to inspect the correspondence by RIL and file a rejoinder," advocate for RTTL Cyrus Bharucha told the court.
From the Sensex basket, ITC, Kotak Mahindra Bank, Bharti Airtel, State Bank of India, Asian Paints, Tech Mahindra, Reliance Industries and Nestle were the major gainers. Maruti, HDFC Bank, Larsen & Toubro and Mahindra & Mahindra were among the laggards.
The company's turnover dipped to Rs 64,990 crore.
Oil-to-telecom conglomerate Reliance Industries Ltd head Mukesh Ambani continues to be the richest Indian and has now broken into the world's top 10 wealthiest persons in the latest Forbes 2024 Billionaire List. Ambani, 66, is ranked 9th on the list with a wealth of $116 billion, up from $83.4 billion in the 2023 ranking, according to Forbes. Gautam Adani is the second richest Indian and is ranked at No.17 on the global list.
Reliance Brands Ltd (RBL) will pick a 40 per cent minority stake in renowned fashion designer Manish Malhotra's MM Styles Pvt Ltd, for an undisclosed sum, the two companies said on Friday. This is the first external investment for the brand, which had so far been privately held by the designer. The strategic partnership is aimed at accelerating the 16-year-old couture house's growth plans in India and across the globe, they said in a joint statement.
Billionaire Mukesh Ambani's Reliance Industries Ltd has bought Britain's iconic country club and luxury golf resort, Stoke Park, for 57 million pounds (about Rs 592 crore). The acquisition adds to Reliance's current stake in Oberoi hotels and hotel/managed residences in Mumbai that it's developing. Over the past four years, Reliance has announced $3.3 billion in acquisitions with 14 per cent in retail, 80 per cent in technology, media, and telecom (TMT) sector, and 6 per cent in energy. The UK-based firm, which owns a hotel and golf course in Buckinghamshire, UK, will add to Reliance's consumer and hospitality assets, the firm said in a filing late on Thursday.
At a time when exchange-traded funds (ETFs) were unloading Jio Financial Services from their portfolios, some active fund managers were placing large bets on the demerged financial services arm of Reliance Industries Ltd (RIL), a report by Nuvama Alternative & Quantitative Research shows. Motilal Oswal Mutual Fund and Quant Mutual Fund were the top MF buyers of the stock in August. They bought around 60 million shares each, together investing around Rs 2,800 crore.
Billionaire Mukesh Ambani's Reliance Industries on Saturday said it will raise as much as $5 billion in foreign currency-denominated bonds and use the proceeds to retire existing borrowings. In a stock exchange filing, the company said the Finance Committee of the company board at its meeting on Saturday approved a "proposal for issuance of senior unsecured US Dollar-denominated fixed-rate notes from time to time, for an aggregate amount up to $5 billion, in one or more tranches".
Reliance Industries Ltd was the biggest wealth creator during the five-year period from 2018 to 2023 while Adani Enterprises Ltd was the top all-round wealth creator, according to a study by Motilal Oswal Financial Services. The study, based on stock market performance of companies, said for the fifth time in succession, Reliance emerged as the largest wealth creator, adding Rs 9,63,800 crore wealth over 2018-23. It was followed by Tata Consultancy Services (Rs 6,77,400 crore wealth addition), ICICI Bank (Rs 4,15,500 crore), Infosys (Rs 3,61,800 crore) and Bharti Airtel (Rs 2,80,800 crore).
Reliance Retail has bought a 25.8 per cent stake in Dunzo, India's leading quick commerce player, for $200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business. Dunzo has raised $240 million (about Rs 1,787 crore) in its latest funding round that was led by Reliance Retail Ventures Ltd (RRVL) - the retail arm of Reliance Industries, the two firms said in a statement. Existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital also participated in the funding round.
With the company fighting a battle with then petroleum minister Jaipal Reddy and an aggressive Comptroller and Auditor General, seeking answers for investments made in the KG-D6 gas fields, its share price fell below Rs 700 in the middle of 2012.
Investors' wealth plummeted by Rs 5.49 lakh crore on Friday as markets faced a massive correction tracking a weak trend in global peers and fresh foreign fund outflows. Falling for the third day running, the 30-share BSE Sensex tumbled 1,017.23 points or 1.24 per cent to settle at 81,183.93. During the day, it plunged 1,219.23 points or 1.48 per cent to 80,981.93.
The company should be given a fair chance to be heard in the matter, the judges said and posted the matter for further hearing on December 19.
Reliance Industries Ltd on Friday reported a 7 per cent drop in its June quarter net profit as retail business got hit by the second wave of COVID infections.
The combined market valuation of six of the 10 most valued companies surged by Rs 1,56,247.35 crore last week, with Reliance Industries Ltd (RIL) emerging as the biggest gainer. While RIL, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, HDFC and Bajaj Finance saw gains in their market capitalisation (m-cap) in the holiday-shortened week, Infosys, HUL and LIC suffered losses. Stock markets were closed on Tuesday on account of Muharram.
Reliance Petroinvestments, a subsidiary of Mukesh Ambani-led Reliance Industries Ltd (RIL), has approached the Securities Appellate Tribunal against the capital markets regulator, which imposed a Rs 11-crore (Rs 110 million) penalty on the company in the Indian Petrochemicals Corp Ltd (IPCL) insider trading case.
Four companies - Rajesh Exports, Hyundai Global Motors Company, Ola Electric Mobility and Reliance New Energy - are eligible for receiving benefits under the production-linked incentive (PLI) scheme for advanced chemistry cell battery storage, the heavy industries ministry said on Thursday. The allotment was made for a total of 50 GWh of battery capacity to the four successful bidders. These firms, the ministry said, will receive incentives under India's Rs 18,100 crore programme to boost local battery cell production.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 22.5 per cent rise in net profit for the quarter ended March on the back of bumper oil refining margins, steady growth in telecom and digital services and strong momentum in the retail business. The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 16,203 crore in the quarter ended March 31, 2022 from Rs 13,227 crore, the firm said in a statement. Net profit, however, fell 12.6 per cent sequentially -- breaking a six-quarter chain of quarter-on-quarter improvement.
Consequently, RIL lost its about position of the country's largest company in terms of market valuation, which it had held for nearly a month.
Among the 30 Sensex firms, Mahindra & Mahindra, IndusInd Bank, Bharti Airtel, Axis Bank, Tata Motors and ICICI Bank were the biggest laggards. In contrast, Tata Steel, Tata Consultancy Services, NTPC, JSW Steel, Asian Paints and Reliance Industries were gainers.
The auditor said that in the case of performance audit on hydrocarbon production sharing contracts, 'interactive meetings were held with two operators, including RIL, prior to the finalisation of the draft performance audit report'.
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.
Mukesh Ambani-led Reliance Industries Ltd, which is engaged in the textile business apart from petroleum, has approached the Controller General of Patents, Designs and Trade Marks for a process patent to make thermoplastic polyester. RIL filed an application in this regard in March this year and the approving authorities have published the claims made by the company in their latest Patent Office Journal, giving public notice.
Reliance Industries on Friday announced the sale of 2.32 per cent stake in its digital unit to US-based Vista Equity Partners for Rs 11,367 crore, the third deal in a little over two weeks that will inject a combined Rs 60,596.37 crore in the oil-to-telecom conglomerate to help it pare debt. The US-based private equity firm will buy a stake in Jio Platforms, which houses the country's youngest but biggest telecom firm Jio, at an equity value of Rs 4.91 crore and an enterprise value of Rs 5.16 crore.
Reliance Industries on Wednesday said it had couple of months back made a proposal for merger of its media properties with Zee but dropped the offer over differences over stake of Zee founders. Hours after Zee Entertainment Enterprises Ltd's biggest shareholder named it as a firm that could help revive the television company's fortunes, billionaire Mukesh Ambani's firm issued a statement clarifying its position. "In February/ March 2021, Invesco assisted Reliance in arranging discussions directly between our representatives and Mr Punit Goenka, member of the founder family and managing director of Zee," it said.
Mukesh Ambani-led Reliance Industries Ltd wants to merge four of its associate companies in real estate with its main property development subsidiary, Reliance Commercial Land and Infrastructure Ltd, under the scheme of amalgamation proposed before the Bombay High Court.
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.
The discovery was made in block KG-DWN-2003/1, lying about 50 km from Machilipatnam in Andhra Pradesh, a company statement said. The block was awarded to Reliance Industries in the fifth round of auction under the New Exploration Licensing Policy.
Gas production at KG-D6 field dropped by a steep 53 per cent.
