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.
In its highest ever reduction in seller fees, ecommerce giant Amazon India has introduced zero referral charges on over 12 million products on its platform that are priced below Rs 300. The move is aimed at boosting seller growth on Amazon.in and supporting hundreds of thousands small businesses across the country.
Reliance beat analyst expectations on almost all parameters
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.
Udaan, India's largest business-to-business (B2B) e-commerce company, has received approval from the National Company Law Tribunal (NCLT) for its internal corporate restructuring plan, according to sources. By consolidating into a single entity, the restructuring will enhance Udaan's agility and pave the way for various financing options, including the ability to pursue an initial public offering (IPO) in India by 2026, according to people familiar with the matter.
Vodafone Idea will gradually lose market share given its weak balance sheet and limited financial flexibility, says Fitch.
Billionaire Gautam Adani's group is said to be planning a surprise entry into the race to acquire telecom spectrum, which will pitch it directly against Mukesh Ambani's Reliance Jio and telecom czar Sunil Bharti Mittal's Airtel, sources said. Applications for participating in the July 26 auction of airwaves, including those capable of providing fifth-generation or 5G telecom services such as ultra-high-speed internet connectivity, closed on Friday with at least four applications. Jio, Airtel and Vodafone Idea -- the three private players in the telecom sector -- applied, three sources with knowledge of the matter said.
'In the audience's mind there is no urgency to go see a film in the theatre.' 'If you pay for social media buzz it does not convert into bums on seats.'
The country's largest retailer Reliance Industries on Monday announced that it will enter the fast-moving consumer goods (FMCG) business this year as part of its expansion plan. Addressing the 45th AGM of Reliance Industries on Monday, Reliance Retail Ventures Ltd (RRVL) Director Isha Ambani said: "This year, we will launch our FMCG goods business". The objective of this business will be to develop and deliver products and solve every Indian's daily needs, with high-quality products at affordable pricing, she said while addressing Reliance Industries' annual general meeting.
Airtel and Vodafone Idea are also trying to expand the penetration of 4G users in their subscriber base as they take this network to the hinterland
Its plans, to cut tariffs by 40% or offer more data, comes bundled with 1 GB high speed data for 28 days with unlimited voice thrown in.
Analysts say that Jio's substantial slowing down in net additions is possibly because the company has dramatically reduced its bundled 4G feature phone offering, which contributed an average 30-40 per cent of its net additions.
The TMC-led West Bengal government has already started laying the groundwork for the election, setting the tone with the recent Bengal Global Business Summit and the state Budget.
According to the quality of service rules, not more than 2 per cent of total calls in a telecom circle on a network should automatically get disconnected.
Jio's100-million subscribers target appears an uphill task in the next one month, believe analysts. Also, the existing subscribers are already witnessing slowdown in data speed thanks to the high traffic.
Richest Indian Mukesh Ambani on Tuesday mentioned about leadership transition at his energy-to-retail conglomerate, saying he wants the process to be accelerated with seniors, including him, yielding to the younger generation. Ambani, 64, who has previously not spoken about succession plans at the country's most valuable company, said Reliance is "now in the process of effecting a momentous leadership transition." Ambani has three children -- twins Akash and Isha, and Anant.
Isha and Akash, 23, were appointed to the boards of Reliance Jio Infocomm Ltd and Reliance Retail Ventures Ltd, the company said.
The company is keen on creating 'a differentiated e-commerce model'.
The government expects the rollout of 5G services to start from early October in the country, Union minister Ashwini Vaishnaw said on Saturday. "As soon as the spectrum auction ends, within a few days itself, we will allocate the spectrum. "We expect that the 5G roll-out will happen from the beginning of October and within a year or so, we should have a good rollout in the country," the Union Minister for Communications, Electronics and Information Technology Ashwini Vaishnaw told reporters in New Delhi.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced to raise Rs 7,350 crore from two investors -- Singapore's sovereign wealth fund GIC and Global alternative asset firm TPG -- by selling a stake in group's retail arm.
Mukesh Ambani-owned Reliance Industries (RIL) is in discussions to acquire a 29.8 per cent stake in Tata Play from the Walt Disney Company, according to sources close to the development. This move is seen as part of RIL's broader strategy to deepen its footprint in India's television distribution sector. Tata Sons, the holding company of the Tata group, currently holds a 50.2 per cent stake in the satellite television broadcaster.
The number of telephone subscribers in India increased from 1,183.15 million at the end of May to 1,186.63 million at the end of June.
The launch of 5G services in India turbocharged mobile download speeds here, pushing the country's ranking 72 notches higher to 47th spot in Speedtest Global Index, ahead of nations like Japan, the UK and Brazil, according to Ookla. India's speed performance has zoomed up 3.59 times since the introduction of 5G, it said dubbing the country's 5G advancement as "remarkable". In this global pecking order, India ranked not only ahead of its neighbours like Bangladesh, Sri Lanka, and Pakistan, but also some G20 countries, such as Mexico (90th), Turkey (68th), the UK (62nd), Japan (58th), Brazil (50th place), and South Africa (48th place).
Bharti Airtel made part payment of Rs 4,725 crore.
Across the world, there are around 150 trials on 5G currently going on and India has lagged behind. The government has now formed a committee which will look exclusively at developing a model for conducting 5G field trials, reports Kiran Rathee.
RIL, however, remains miles ahead of TCS in other financial parameters such as total revenue, operating profit, net worth, assets, and market capitalisation.
A non-strategic investor like Poonawalla brings in not only capital but also creative freedom. Indian cinema needs more investors like him, reports Vanita Kohli Khandekar.
Reliance Jio to take over mobile business assets of troubled RCom at an estimated value of Rs 24,000-Rs 25,000 crore.
Measures reportedly being mulled by the government to ease telecom industry's stress and fundraising may give Vodafone Idea the much-needed breather, but structural issue undermining the sector can be fixed only with "sizable" tariff hike for 4G prepaid customers, according to a note by Edelweiss. It further observed that as Voda Idea's large liabilities are falling due, and given the impending launch of JioPhone Next (whose rollout timeline has now been pushed to before Diwali), "the sooner the government measures as well as tariff hikes are rolled out, the better it is". It is pertinent to mention here that the telecom sector has been keenly watching out for the relief package, which could include redefinition of Adjusted Gross Revenue (AGR) to exclude non-telecom items, cut in levies such as Spectrum Usage Charges and easier terms and conditions for surrendering radiowaves to the government.
Further deleveraging needed to cut net debt and sustain operational improvement
Diverse marquee investors are becoming long-term shareholders of Jio Platforms because of a unique set of technologies and platforms under one entity.
This marks the second billion-dollar investment by Silver Lake in a Reliance subsidiary after the $1.35 billion investment in Jio Platforms.
Campa is set to take on its competition, which pushed it out of the aerated drinks business in the late 1990s, but this time with a new owner - Reliance Industries. Campa's entry comes at a time when aerated drinks as a category is already saturated. But experts say this could give rise to competition in the segment, eventually causing the space to grow.
While Ambani, 66, drew nil salary from the company since the 2020-21 fiscal year, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission. His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm.
Its effort to stave off bankruptcy by selling spectrum to Reliance Jio got scuttled after the long legal and government delays for approvals.
Niantic Labs, the makers of Pokemon Go, releasing the game in India, and adding more content to the game of late, should ensure another spike in the game's popularity, says Himanshu Juneja.
Bharti Airtel has paid Rs 11,374.7 cr while upfront amount due from it was Rs 7,832.20 cr
Bidding for the sixth round of spectrum auction for radiowaves worth Rs 3.92 lakh crore will start from March 1, according to a notice issued by the Department of Telecom on Wednesday. The long-awaited spectrum auction is being held after a gap of four years and over two years after the Telecom Regulatory Authority of India (Trai) calculated and recommended base price for the radiowaves. The DoT has fixed January 12 for the pre-bid conference and January 28 as the last date for seeking clarification to the notice.
Ambani is also the year's biggest gainer, adding USD 9.3 billion to his wealth amid the continuing success of his Reliance Jio broadband telco service.
Bharti Airtel on Thursday announced the commercial launch of 4G services in 296 towns across India after testing the market in select cities.
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