She's living her best days as the newest Ambani bride-to-be.
The net worth of India's richest man, Mukesh Ambani, dropped 28 per cent, or USD 300 million a day for two months to USD 48 billion as on March 31 due to the massive correction in stock markets, a report said on Monday. The chairman and managing director of the diversified Reliance Industries saw his wealth decline by USD 19 billion (app Rs 144,400 crores) in the February-March period, taking his global ranking down eight places to 17th, the Hurun Global Rich List said.
Reliance has filed patents not only in India but also in the US, Canada, Europe, Estonia, South Korea, and South America. The patents include narrowband Internet of Things, AI large language models, AI DeepLearning, Big Data, devices, and quantum AI in 6G.
In a statement to the Bombay Stock Exchange, the company said it had appointed Nita Ambani and three others as additional directors.
Reliance Industries' annual general meeting on Friday will be unique in many ways. It's the first AGM after the Supreme Court judgment on K-G gas, the first after the truce between Mukesh and Anil Ambani and the first after the company's big-bang return to telecom.
After being at loggerheads for 8 years, Ambani brothers have sealed a Rs 1,200-crore (Rs 12-billion) deal wherein Mukesh will use his younger sibling's optic fibre network for launch of his telecom venture.
Training his guns on BJP's prime ministerial candidate again over the Reliance gas issue, the Aam Aadmi Party on Friday asked Narendra Modi whether he will bring down the gas price if he comes to power.
In view of the recent attacks on its agri retail stores, the Reliance Industries group company on Tuesday said it will go slow on the roll out of Reliance Fresh outlets in the state.
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.
Qatar Investment Authority (QIA) will acquire around 1 per cent stake in Reliance Retail Ventures Ltd (RRVL), the retail arm of billionaire Mukesh Ambani-led Reliance Industries, by investing Rs 8,278 crore ($1 billion). A QIA's wholly-owned subsidiary will make the investment in India's largest retailer at a valuation of Rs 8.278 lakh crore ($100 billion). Updating about the development, Reliance Industries in a regulatory filing said: "QIA's investment will translate into a minority equity stake of 0.99 per cent in RRVL on a fully-diluted basis." RRVL is the holding company for all retail businesses of Reliance Industries Ltd (RIL).
After announcing his re-entry into telecom a few days ago following a patch-up with younger brother Anil Ambani, Reliance Industries' chairman Mukesh Ambani on Friday said that prospects of the sector were much brighter now than they were at the time when he had spearheaded the undivided group's foray.
The battle between the Ambani brothers flared up again today -- this time over the Anil Dhirubhai Ambani Group's (ADAG's) bid to seal a merger deal with South African telecom company, MTN.
The company had reported a turnover of Rs 10,800 crore (Rs 108 billion) in the previous financial year.
"The report is out of context and factually incorrect. Tata's comments on wealth are in the larger context of the growing disparity in the society. The comments seem to have been deliberately sensationalised," a statement from Tata Sons said.
RIL, owned by elder brother Mukesh Ambani, had acquired the Mumbai team last month for $111.9 million (about Rs 448 crore) for 10 years. Anil Ambani chose to stay away from the bids for the eight teams last month.
'It is basically a threat letter calling the planted explosives a 'trailer' and a warning to return with more preparations to assassinate the whole family later.'
Valuation slips on rights cancellation; OIL pulls out, GAIL puts plan on ice.
Chairman of Reliance Industries Ltd Mukesh Ambani and his younger brother Anil today met Home Minister P Chidambaram separately at his North Block office within a span of 50 minutes.
Reliance Industries chairman Mukesh Ambani in his address at the Vibrant Gujarat Summit hailed Gujarat chief minister as as a leader with "grand vision."
The supplies to Anil Ambani Group's power plants including the one proposed at Dadri near Delhi, will be subject to government approving the allocation of the fuel, Mukesh Ambani said.
Following the patch-up between the Ambani brothers last month, the annual general meeting of elder brother Mukesh-chaired Reliance Industries witnessed heightened excitement among shareholders.
Reliance Industries Ltd vice chairman Anil Ambani on Wednesday fired another salvo at his elder brother Mukesh, accusing a key director of one of the group companies of sullying the group's image.
Mukesh Ambani-controlled Reliance Industries Ltd will hold its annual general meeting on August 3, in which the company's plans following the settlement of ownership of Reliance empire may come up for discussion.
The long-drawn dispute between the two Ambani brothers took another turn on Sunday, with both Mukesh Ambani and Anil Ambani saying all disagreements can be sorted in a cordial and conciliatory manner.
Reliance Industries on Friday unveiled five fundamental strategic shifts for growth, laying emphasis on acquisitions and partnerships for growth rather than the organic route.
Competition Commission of India on Wednesday said it has approved the merger of the media assets of Reliance Industries and Walt Disney Co to create the country's largest media empire. The deal, announced six months ago, has been cleared by the CCI with certain modifications proposed by the two parties.
Jio Platforms Limited is likely to have a valuation of $148 billion by the time it goes public on the back of strong free cash flow and potential deleveraging, ICICI Securities said.
The business value of the league, popularly called the IPL, surged to a record $18.5 billion last year, U.S.-based investment bank Houlihan Lokey says.
A flare up of sibling rivalry between India 's billionaire Ambani brothers over the proposed takeover of mobile operator Reliance Communications by South Africa's MTN is threatening to spill over into the courts.
India is poised to become a $30 trillion economy by the year 2030 from the current $1.4 trillion, industrialist Mukesh Ambani said on Friday.
The shares of the Mukesh and Anil Ambani group companies were on fire on Monday following the brothers burying their hatchet, with RIL gaining 2.58 per cent and Reliance-Power rallying 7.86 per cent.
Reliance Industries Limited (RIL), Viacom18 Media (Viacom18), and The Walt Disney Company announced on Thursday that they have completed the merger of Viacom18's media and JioCinema businesses into Star India (SIPL), creating a mega joint venture valued at Rs 70,352 crore. The new entity will be guided by three chief executive officers (CEOs), "who will lead the company into a new era of ambition and disruption", according to a joint statement. Kevin Vaz will lead the entertainment division across all platforms, Kiran Mani will head the combined digital division, and Sanjog Gupta will oversee the sports operations.
The UP government said Yogi returned with investment proposals worth over Rs 5 lakh crore from Mumbai.
Right after it returned to the telecom sector by acquiring Infotel Broadband, Mukesh Ambani's Reliance Industries (RIL) began discussions with brother Anil Ambani's mobile service provider, Reliance Communications (RCom), for a possible sharing of infrastructure.
