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.
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.
"We are delighted to welcome Google as a strategic investor in Jio Platforms. We have signed a binding partnership and an investment agreement under which Google will invest Rs 33,737 crores for a 7.7 per cent stake in Jio Platforms," Mukesh Ambani said at the company's annual general meeting.
Telecom major Reliance Communications plans to monetise its real estate assets as it looks to pare debt.
Total income from operations, however, dipped 27 per cent to Rs 68,261 crore.
Reliance Retail Ventures Ltd, run by India's richest man Mukesh Ambani, on Tuesday raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA), taking the total fundraise to Rs 37,710 crore in less than four weeks.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
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.
Abu Dhabi-based sovereign wealth fund Mubadala Investment Co will invest Rs 6,247.5 crore to buy a 1.4 per cent stake in Reliance Industries Ltd's retail arm -- the billionaire Mukesh Ambani-led firm's third such deal in less than two days.
Reliance Industries has doubled the average life of its debt to around 7.5 years.
The company is targeting 100 million subscribers in shortest possible time, RIL Chairman Mukesh Ambani said
This is the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
Bankers said as part of its debt reduction plan, Canada's Brookfield-sponsored India Infrastructure Trust acquired a pipeline for Rs 13,000 crore from East West Pipeline Ltd, an arm of Reliance Industries Holding Private Ltd, and all the liabilities are now off the subsidiary's books.
Mukesh Ambani's Jio, high debt and some bad decisions drove RCom to its grave.
Investors will remain cautious ahead of F&O expiry.
'If you are going to have only a handful of telecom players on whom the entire dream of Digital India rests, it's important they are financially sustainable.'
Saudi Aramco had right from the beginning resisted the price tag Reliance had put for the 20 per cent stake in O2C business, which comprises the company's twin refineries at Jamnagar in Gujarat, petrochemical plants and 51 per cent in fuel retailing venture.
The Ambanis are the only Indian family on the top 10 richest families list in Asia.
Idea has slashed prices by up to 67% for 3G/4G internet packs for both post- and pre-paid users.
Chinese mobile brands are deeply entrenched in the Indian market. A move to bar them may send a bold diplomatic message. But its cost for the local industry is anybody's guess. In the event that Chinese brands face curbs, two handset makers - Samsung and Apple - squarely stand to gain.
Even as regulatory focus has zeroed in on foreign e-commerce giant Amazon, a domestic retail giant has been created almost below the radar in Reliance Retail (RR), one of the most crucial businesses for the group's future. From doorstep delivery of groceries, apparels to branded jewellery, medicines, toys, furniture to high street retailing, RR's presence in the world's fourth largest consumer market is just one part of the story.
Vodafone had contended in its plea that DoT instead of signing and executing the ULs had at the last moment informed them that their request for deletion of 'restrictive' clauses in licence pertaining to roaming cannot be accepted.
India's largest-ever spectrum auction kicked off on Saturday with major telecom operators placing bids worth Rs 53,531 crore across bands, even as the premium 700 Mhz and 900 Mhz frequencies did not find any buyer.
In the broader markets, the BSE Midcap and Smallcap indices extended gains and were up over 1% each
Three firms, Vishvapradhan Commercial Pvt Ltd along with AMG Media Networks and Adani Enterprises Ltd, have offered a price of Rs 294 for the acquisition of up to 1,67,62,530 fully paid-up equity shares of NDTV having a face value of Rs 4 from the public shareholders.
RRVL will make an open offer to acquire up to an additional 2.17 crore equity shares of Just Dial, representing 26 per cent stake, in accordance with Sebi Takeover Regulations, a regulatory filing said.
India's huge digital prowess and potential will play a huge role in enabling digital lending, says Romita Majumdar.
Bharti Airtel's total revenue for the December 2018 quarter stood at Rs 20,519 crore, just one per cent higher than the Rs 20,319 crore in the corresponding period of the previous year.
India's largest telecom operator in terms of subscriber numbers has been struggling to raise its share of subscribers in the market for fourth-generation technology services.
Mamata Banerjee said availability of land won't be a problem in Bengal as the state government has a land bank.
The telecom industry is moving towards a five-plus one model.
'Vodafone Idea has losses running over Rs 10,000 crore in the last four quarters.' 'It has long-term debt of about Rs 1.15 trillion.' 'Even post-issue, the debt service numbers won't be good,' points out Devangshu Datta.
Big retailers are openly talking of plans to harness the power of big data, even reporting those in annual reports as part of a long-term strategy.
This is the first time airwaves in 700 Mhz band will be put up for auction
The new executive director of Reliance Capital has big shoes to fill in every way.
'What made him different was that he was not a banker at all by temperament.' 'He was a businessman, a typical lalaji at that.' 'He had to win at any cost.'
India Inc has few leaders who are likely to grab headlines in 2015.
The numbers in India may not be as big but the opportunity for serious growth is all there.
