The company had reported a turnover of Rs 10,800 crore (Rs 108 billion) in the previous financial year.
Betting on higher margins from private labels, Reliance Digital, the consumer durable chain of Mukesh Ambani's Reliance Retail, is planning to introduce its own brands of home theatres, LCD televisions and digital cameras. The brands, according to a source, will be called Rldigi. Reliance Digital is planning tie-ups with domestic and international consumer durable and appliance companies. These private labels are expected to contribute 12-15 per cent of Reliance Digit
The unit of Reliance Communications may raise debt, equity
The Delhi high court (HC) division Bench on Thursday sought a response from Reliance Industries (RIL) and others regarding the government's appeal against the Mukesh Ambani-owned conglomerate and others for fraudulently and unjustly enriching themselves by draining gas from their deposits, amounting to over $1.5 billion. The Centre had appealed against the single-judge Bench order of the Delhi HC on May 9, which had dismissed its petition. Justice Anup Jairam Bhambhani had upheld the international arbitration award of July 24, 2018, in favour of the RIL-led consortium. The consortium includes UK-based BP Plc and Niko Resources of Canada.
International rating agency Moody's is likely to upgrade the rating of the country's leading private company Reliance Industries following improvement in its financial position.
Reliance Infocomm, the largest private telecom service provider in the country, has deployed Veraz networks' I-Gate 4000 PRO media gateways, supporting 60,000 ports for international long-distance VoIP traffic.
Reliance's network includes the wide reach of IM Global,
The government said on Tuesday it was very clear in its stand imposing a penalty of Rs 150 crore (Rs 1.5 billion) on Reliance Infocomm for violating the licensing conditions by diverting international calls as local calls.
Reliance Industries' gas field off the Orissa coast holds 2.3 trillion cubic feet of gas reserves, more than double the previous estimates.
Among major Sensex movers, ITC rose the most by 1.70 per cent, Wipro by 1.43 per cent, Tech Mahindra by 1.36 per cent and Nestle India by 1.27 per cent. Other gainers included HCL Tech, Asian Paints and Reliance. On the other hand, ICICI Bank, NTPC, UltraTech Cement and Tata Steel traded with a loss of up to 0.82 per cent.
'It is difficult to put a number right now as the value of dollar to rupee has also changed from the exchange rate last time. But don't be surprised if digital rights earns way more than TV.'
Tata Motors was the biggest loser in the Sensex pack, skidding 1.77 per cent, followed by SBI, Power Grid, Tata Steel, Infosys, UltraTech Cement, Titan, Larsen & Toubro, Reliance Industries and Maruti. On the other hand, IndusInd Bank, Bharti Airtel, Asian Paints, NTPC, HCL Technologies, HDFC and Sun Pharma were the gainers.
Reliance Infocomm on Tuesday said the company has not violated the licence agreement in the alleged re-routing of international calls saying the usage of Home Country Direct service by the company was fully recognised by the International Telecom Uni
Following a directive from the Delhi high court, Reliance Infocomm has deposited Rs 40 crore (Rs 400 million) with Bharat Sanchar Nigam Ltd
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
Its tie-ups so far have been with international brands, either through licensing agreements or joint ventures, to get them into India.
Reliance Communications, India's second-largest wireless operator, will launch phone services in Uganda by year-end, marking its first foray into international mobile phone markets.
Stocks of Hindustan Petroleum Corporation Limited (HPCL), Bharat Petroleum Corporation Limited (BPCL) and Indian Oil Corporation Limited (IOCL) have more headroom left despite the sharp run in the last few weeks, suggests a recent report from Morgan Stanley. Stocks of these oil refining and marketing companies (OMCs), it believes, are seeing multiples re-rate as investors reassess long-term growth prospects. "IOCL trades at one year forward P/BV of 1.2x, 19 per cent below +1 standard deviation (SD); BPCL trades at one year forward P/BV of 1.5x, near historical averages; HPCL trades at one year forward P/BV of 1.5x, near +1SD," Morgan Stanley said.
The Delhi high court has asked BSNL to maintain a status quo on the question of interconnect agreement with Reliance Infocomm.
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 National Company Law Appellate Tribunal (NCLAT) on Thursday allowed a petition filed by lenders of Reliance Capital seeking another round of auction for the debt-ridden firm undergoing insolvency process. A two-member bench set aside an order passed by NCLT and said the Committee of Creditors (CoC) has the power to negotiate and call for a higher bid. The appellate tribunal permitted the CoC to continue with the challenge mechanism and invite bids after two weeks.
Interrupting a two-month streak of decline, outward foreign direct investment (FDI) rose sequentially to $1.85 billion in July over $1.07 billion in June, an increase of 73 per cent. However, it was lower than the $2.18 billion in July last year, according to the Reserve Bank of India data. Outbound FDI, expressed as financial commitment, has three components - equity, loans, and guarantees.
Thursday's ruling does not affect any decision on Russian and Belarusian athletes' participation at the Paris 2024 Olympics which the IOC will take at a later date.
State-owned Oil and Natural Gas Corp (ONGC) has written to the Oil Ministry seeking appointment of an international expert to assess if Reliance Industries Ltd was drawing out any of its gas in KG basin.
CDMA mobile operator Reliance Communication on Wednesday reduced international calling rates upto 66 per cent for consumers using global calling cards of different denominations.
Business conglomerate Reliance has acquired NIS Sparta, a leading performance enhancement solutions organisation. The size of the acquisition which took place on July 1, was not available.
There is a growing sentiment in the world and the global South in a way embodies it. But there's also political resistance, he said.
IndusInd Bank was the biggest gainer in the Sensex pack, rising 3.25 per cent, followed by Tech Mahindra, Wipro, Bharti Airtel, HCL Technologies, Axis Bank, HDFC Bank, RIL, TCS, L&T and Infosys. State Bank of India, NTPC, Maruti, Bajaj Finserv, Tata Motors and Power Grid were among the laggards, slipping up to 2.94 per cent.
The government has accused Reliance Infocomm of violating the licence by illegally routing international calls as local ones to avoid payment of levies to telecom PSUs.
Market benchmarks Sensex and Nifty tumbled 1 per cent on Wednesday amid continuous foreign fund outflows and a weak trend in index majors Reliance Industries and HDFC Bank. The 30-share BSE Sensex slumped 636.75 points or 1.04 per cent to settle at 60,657.45. During the day, it declined 700.64 points or 1.14 per cent to 60,593.56.
This year will be the one when GenAI becomes a part of the daily lives of people around the world.
The migration of domestically developed intellectual property to foreign corporations within India reflects an anomaly in the demand pattern of the country's job market, points out Kanika Datta.
Profit from its retail business jumped 77 per cent to Rs 1,923 crore and that from telecom rose by 78.3 per cent to Rs 2,665 crore.
In a move towards gender inclusion, Tamil Nadu has partnered Godrej Consumer Products (GCPL) to offer a 5 per cent job reservation for LGBTQAI+ and people with disabilities at GCPL's upcoming fast-moving consumer goods manufacturing unit in Thiruporur in Chengalpattu district. According to industry experts and activists, while companies acknowledge transgender communities, this is the first time the entire spectrum of gender minorities, including lesbian, gay, bisexual, transgender, queer/questioning (one's sexual or gender identity), asexual and intersex, is receiving such a notable share of job participation in the private sector while signing memoranda of understanding with states.
