Reliance Jio has urged telecom regulator Trai to come up with a revised paper on spectrum allocation for satellite communication alleging that it ignores the key point of ensuring level-playing field between satellite and terrestrial services. In a letter to the Telecom Regulatory Authority of India (Trai) chairman, Anil Kumar Lahoti, Reliance Jio has sought revision of the consultation paper on recommending rules for "terms and conditions for the assignment of spectrum for certain satellite-based commercial communication services".
Reliance Retail Ventures Limited (RRVL) on Thursday said it has entered into a Master Franchise agreement with 7-Eleven to run convenience stores in India. The first 7-Eleven store is set to open on Saturday, in Andheri East, Mumbai, RRVL, the retail arm of Reliance Industries Ltd, said. "RRVL, through its wholly-owned subsidiary, 7-India Convenience Retail Limited, has entered into a master franchise agreement with 7-Eleven, Inc (SEI) for the launch of 7-Eleven convenience stores in India," said a joint statement.
From the 30-share Sensex pack, Mahindra & Mahindra, Infosys, HCL Technologies, Adani Ports, Bajaj Finance, Tech Mahindra, Titan, Tata Consultancy Services, Reliance Industries and Power Grid were among the laggards. On the other hand, State Bank of India was the only gainer.
New customer additions by Reliance Jio and Bharti Airtel pushed the Indian telecom subscriber base past 120.5 crore in June, according to a Trai report released on Tuesday. The wireless subscriber base grew marginally to over 117 crore and wireline connections in the country increased to 3.51 crore in June from 116.89 crore and 3.47 crore, respectively, in May, as per data released in Trai's subscriber report for June.
A heart-wrenching defeat in the semi-finals notwithstanding, a demoralised Indian men's hockey team will have to regroup quickly and aim for a second consecutive podium finish at the Olympics when it takes on Spain in the bronze medal play-off in Paris on Thursday.
'In India, managers and the leadership almost glorify overworking.'
The Supreme Court on Monday dismissed a plea filed by Sebi against a Securities Appellate Tribunal order which set aside the penalty imposed by the market regulator on RIL chairman Mukesh Ambani and two other entities in a case related to alleged manipulative trading in shares of the erstwhile Reliance Petroleum Ltd (RPL) in November 2007. A bench of Justices J B Pardiwala and R Mahadevan said it was not inclined to interfere with the order passed by SAT.
The outage raised broader concerns about the dependency on a few large tech companies controlling critical platforms.
Reliance Jio has sent a second legal opinion to the Telecom Regulatory Authority of India (Trai) on the subject of the potential allocation of satellite spectrum. The letter is written by retired Supreme Court Justice L Nageshwara Rao and argues in favour of auctions, stating that any other method for allocating spectrum apart from auctions could be constitutionally unsound. Business Standard has reviewed the letter.
Among the 30 Sensex firms, Tata Motors jumped over 4 per cent, followed by Bajaj Finserv, Bajaj Finance, HCL Technologies, ITC, Reliance Industries, Tech Mahindra, Maruti and State Bank of India. Reliance Industries climbed nearly 2 per cent after Mukesh Ambani, chairman and managing director of the firm, said the board of the company will meet on September 5 to consider issuing bonus shares in the ratio of 1:1.
In an unusually hard-hitting response to criticism against it in a United States government report on religious freedom, India on Friday described the findings as 'deeply biased', visibly driven by 'votebank' considerations and a mix of imputations and selective usage of facts.
Recouping the dent caused by the Hindenburg Research report, Gautam Adani's networth shot up 95 per cent to Rs 11.6 lakh crore last year, which helped him replace Mukesh Ambani to become the richest Indian, a report said on Thursday. Reliance Industries chairman and managing director Ambani's overall networth increased by 25 per cent to Rs 10.14 lakh crore, as per the 2024 Hurun India Rich List. In 2023's report, Adani's wealth declined by 57 per cent to Rs 4.74 lakh crore, and Ambani was way ahead with a fortune of Rs 8.08 lakh crore.
'Let's Move India' encourages people of all ages and abilities to embrace the joy of movement and celebrate the Indian athletes heading to the Paris 2024 Olympics.
"Heartfelt congratulations to our Men's Hockey Team on winning bronze at the Paris Olympics," Ambani said.
Benchmark equity indices Sensex and Nifty pared early gains to settle lower on Wednesday due to late selling in index major Reliance Industries, ITC and HDFC Bank even as the RBI took the first step towards a rate cut in its monetary policy review. Erasing its early gains, the 30-share BSE Sensex fell 167.71 points or 0.21 per cent to close at 81,467.1. During the day, it surged 684.4 points or 0.83 per cent to hit an intra-day high of 82,319.21.
Defence Minister Rajnath Singh announced that India's defence exports have crossed a record Rs 21,000 crore, a significant jump from Rs 2,000 crore a decade ago. He set a target of achieving defence exports of Rs 50,000 crore by 2029. Singh highlighted the importance of mastering frontier technologies in the face of evolving warfare, emphasizing the role of military training centers in preparing soldiers for future challenges. He also underscored the government's commitment to strengthening integration and jointness among the three services, aiming to enhance the armed forces' ability to face challenges together.
Reliance Infocomm on Friday drastically slashed mobile tariffs, reducing prepaid tariffs by about 60 per cent on Reliance IndiaMobile and offering virtually double the talktime available on competing prepaid services.
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.
'While my generation carries with it the memory of the Chinese perfidy of 1962, this generation will carry the memory of Chinese perfidy in Galwan.'
Equity benchmarks ended higher on Friday helped by buying in index major Reliance Industries along with fresh foreign fund inflows. Extending its previous day's rally, the 30-share BSE benchmark climbed 203.01 points or 0.34 per cent to settle at 59,959.85. During the day, it jumped 376.33 points or 0.62 per cent to 60,133.17.
With the rapid evolution of channels like quick-commerce and the emergence of ONDC, the Indian retail industry is 'cautiously optimistic' for 2025, in which new-age technologies such as AI and automation will play a crucial role, driving efficiency and personalisation.
At the 45th Annual General Meeting of Reliance Industries (RIL) in August, chairman and managing director (CMD) Mukesh Ambani described the company as an "unputdownable book" with never-ending chapters of success. "Reliance grew from strength to strength because we internalised the founder's mindset of purpose, philosophy and passion," he said. Wednesday marked the 90th birth anniversary of RIL founder Dhirubhai Ambani.
'Son believes India has a significant opportunity in chip design, especially in creating IP that will be uniquely Indian.'
Share prices of Nestle India, Asian Paints, Bandhan Bank, Tata Technologies, AU Small Finance Bank and Avenue Supermarts, all a part of the BSE 500 index, have hit their respective 52-week lows on the BSE in Thursday's intra-day trade after a sharp correction in the equity markets.
Internship opportunities have been posted by 193 companies, including Jubilant Foodworks, Maruti, Eicher Motor, L&T, Muthoot Finance and Reliance.
Russia's state-owned oil firm Rosneft has agreed to supply up to 500,000 barrels per day (bpd) of crude oil to Indian upstream oil and gas major Reliance Industries (RIL) in the largest-ever energy deal between the two countries, Reuters reported on Thursday. The 10-year agreement amounts to 0.5 per cent of global oil supply and is valued at roughly $13 billion per year at current prices, it said.
Fast-moving consumer goods (FMCG) companies are expected to witness pressure on volumes in the October-December quarter. However, price hikes will help push up revenues, said brokerages.For India's largest engineering firm, Larsen and Toubro (L&T), the analysts expect a 20 per cent growth in consolidated revenue, and an 8.1 per cent core business Ebitda margin, up 40 bps from a year ago.
From the 30-share pack, Adani Port, Bharti Airtel, Asian Paints, IndusInd Bank, Bajaj Finserv, Reliance Industries, Infosys, UltraTech Cement, HDFC Bank, HCL Technologies and ICICI Bank were among the laggards. Tata Motors, Axis Bank, Maruti, Larsen & Toubro, ITC and Tata Steel were among the gainers.
Indian IT hiring landscape is at a pivotal juncture as it transitions from a year of decline towards a more hopeful future. The focus on specialised skills, particularly in AI and data science, combined with geographical shifts towards Tier 2 cities, indicates a transformation within the sector.
India, the world's third largest oil consuming and importing nation, in July bought $2.8 billion worth of crude oil from Russia, second only to China which remains the largest importer of Russian oil, a report said. Russia emerged as India's biggest supplier of crude oil, which is converted into fuels like petrol and diesel in refineries, after Russian oil was available on discount following some European nations shunning purchases from Moscow over its invasion of Ukraine in February 2022.
A Hinduja Group firm on Wednesday emerged as the highest bidder with an offer of Rs 9,650 crore to take over debt-ridden Reliance Capital in the second round of auction, sources said. The bid by IndusInd International Holdings Ltd (IIHL) is higher than Rs 8,640 crore offer made by Torrent Investments in the first round of auction held in December last year. The other two suitors -- Torrent Investments and Oaktree -- did not participate in the second round of auction, sources said.
Unprecedented bribery charges, farewells, separation, failed union, monumental mergers and record-breaking IPOs, along with a healthy dose of online happenings in the form of spat and lessons in customer care, corporate India saw it all in 2024.
Ambani won unanimously with 100 per cent of vote at the 142nd IOC session in Paris.
Stepping up the company's AI and cloud play, Reliance Industries chairman Mukesh Ambani on Thursday announced that Jio users will get up to 100 GB of free cloud storage to securely store and access their photos, videos, documents, digital content and data. Addressing the 47th AGM of RIL, Ambani said the Jio AI-Cloud Welcome offer will be launched during the upcoming Diwali, which would bring a "powerful and affordable solution where cloud data storage and data-powered AI services are available to everyone, everywhere". "Jio users will get up to 100 GB of free cloud storage to securely store and access all their photos, videos, documents, all other digital content, and data.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on Forbes' latest Global 2000 list of public companies worldwide.
From the 30 Sensex pack, Mahindra & Mahindra, State Bank of India, Power Grid, Tata Steel, IndusInd Bank, Tata Motors, Larsen & Toubro, NTPC, Bajaj Finance and Reliance were among the biggest laggards.
Reliance Industries' (RIL's) oil-to-chemicals (O2C) business is likely to remain under pressure for the remaining of the current financial year, according to analysts and company executives. "Management guides for softness for the next couple of quarters in both retail and O2C businesses," analysts at BOB Capital Markets noted in an after-results report on RIL. For the July-September quarter (Q2) of 2024-25 (FY25), RIL's O2C business reported a 5.1 per cent year-on-year increase in revenue to Rs 1.55 trillion.
From the 30-share Sensex pack, Tata Consultancy Services, Infosys, NTPC, HCL Technologies, Axis Bank, Tech Mahindra, Bajaj Finserv, Sun Pharma, IndusInd Bank and Reliance Industries were the major laggards. Tata Steel, Hindustan Unilever, Mahindra & Mahindra, Nestle and State Bank of India were among the gainers.
Nibe Space (NSPL), a subsidiary of Nibe, announced its vision to establish India's first multi-sensor, all-weather, high-revisit Earth observation satellite constellation. Aiming to strengthen India's self-reliance in the strategically crucial defence-space sector, NSPL signed memoranda of agreement with Indian and global partners, including Larsen & Toubro, Centum, AgniKul, Skyroot Aerospace, SpaceFields, SISIR Radar, CYRAN AI Solutions, and Thales Alenia Space as a technology partner.
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