"We remain open to opportunities if appropriate valuations come up," said Reliance MF CEO Sundeep Sikka. Reliance MF, which is India's biggest mutual fund in terms of assets under management, has also become the first fund house to cross an average AUM of Rs 1 lakh crore. "Consolidation has already started in the industry and, going forward, only top 5-7 fund houses would command the major chunk of funds as investors will have confidence in large fund houses," Sikka said.
Reliance Infratel, the tower business arm of the group's telecom entity Reliance Communications, has allowed the regulatory approval to lapse without coming out with an IPO and is unlikely to revive the process soon. A company spokesperson did not take queries on lapse of the approval period and on whether the company was looking to revive the process by filing a fresh draft IPO prospectus with market regulator Sebi.
HDFC chairman Deepak Parekh on Friday exuded confidence that the synergies between HDFC Bank and the group companies will deepen with the bank taking on the mantle of ownership of the group following the reverse merger likely to be effective from Saturday. As chairman of HDFC Ltd, Parekh in the last message to the shareholders said home loans will now be complemented with HDFC Bank's core strengths -- its sales engine, execution capabilities at scale and deep insights on consumer behaviour. The reverse merger of parent HDFC Ltd with HDFC Bank is expected to be effective from July 1.
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.
RIL has been talking to groups including Gionee, Huawei and Xiaomi
Flag Telecom and Pivotal Pvt Equity, the company, which had made an offer to acquire the former at a price higher than that offered by Reliance, have "mutually" decided not to pursue their discussions.
'Rafale is an open and shut case and there is only one man who has done corruption'
Reliance Power IPO from billionaire Anil Ambani-led group may have generated highest demand, but its listing premium could only be ranked the lowest after DLF among 10 major IPOs since elder brother Mukesh's Reliance Petroleum made its debut on the bourses in 2006.
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.
Among the Sensex firms, Tech Mahindra, Wipro, Infosys, Tata Consultancy Services, HCL Technologies, Larsen & Toubro, ITC, Sun Pharma, NTPC and Titan were the major gainers. Nestle, Axis Bank, Tata Motors, ICICI Bank, HDFC Bank and Bharti Airtel were the laggards.
Christopher Wood, global head of equity strategy at Jefferies has rejigged his equity portfolios. In his Asia ex-Japan long-only portfolio, he has added Axis Bank (5 per cent weightage) and increased holding in Larsen & Toubro (L&T) by one percentage point. This, Wood said, will be paid for by removing the investment in ICICI Lombard General Insurance and reducing the investments in HDFC Bank and Reliance Industries (RIL) by one percentage point each.
India's top payments service provider Financial Technologies-promoted atom technologies, Visa and Reliance group's Reliance Securities have come together to enable 1 million customers of Reliance Securities to make online money transfers to their broking accounts through atom's payment solutions, using any Visa debit card.
RIL says Sebi has not asked for revision of offer price, expecting clearance soon.
The share of Life Insurance Corporation of India (LIC) in monthly new business premium (NBP) in the life insurance sector declined to 58.50 per cent in September 2023 from 68.25 per cent in September 2022 -- a drop of 975 basis points -- owing to shortcomings in the product and distribution side of business. However, the market share saw a marginal uptick from the 57.37 per cent recorded in August this year. According to the monthly business data released for September 2023 by the Life Insurance Council, the NBP of LIC up to September 2023 stood at Rs 92,462.62 crore as compared to about Rs 1.25 trillion in the same period a year ago.
Cardiac patients whose proposals for a regular health insurance plan get turned down should apply for a cardiac-specific plan.
State-owned Life Insurance Corporation of India (LIC), which completes one year of its listing on Tuesday, presents a sorry scorecard as far as its stock market performance goes. Shares of the insurance behemoth are down 40 per cent over their issue price of Rs 949 to Rs 567 apiece. The Sensex, on the other hand, has risen 14 per cent in the past one year.
Reliance HR Services (RHRS), a human resources company formed by the Reliance Anil Dhirubhai Ambani Group (ADAG), will recruit half a million people for the group in the next four years.
Leading business groups of the country like Reliance and the Tatas have shown interest in entering the Sudanese market, Ambassador of Sudan in India Abdal Mahmood Adbal Haleem Mohammad said on Monday.
The UP government said Yogi returned with investment proposals worth over Rs 5 lakh crore from Mumbai.
An end to the bitter seven-month old battle between the Ambani brothers for the ownership of the Reliance business empire appeared imminent and an announcement about the settlement is likely to be made on July 6, the third death anniversary of their
RIL holds 45.43 per cent stake in RIIL as its promoter.
A possible merger of Reliance Communications of India and South Africa's MTN could see Anil Ambani become the enlarged group's chairman and biggest shareholder with a stake of almost 35 per cent.
Shreekant Sambrani remembers P R S 'Biki' Oberoi, personal friend and hospitality icon, who passed into the ages this week.
Anil Ambani Group firm Reliance Capital Partners on Tuesday said it along with two other group companies has acquired an additional 4,081 equity shares representing 0.01 per cent stake in Fame India, hiking their stake in the multiplex chain to 13.8 per cent.
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 Adani stock price saga will pass into public memory as one of those matters that simply escaped being nailed down, perhaps because too many vested interests were involved, notes Debashis Basu.
Reliance Infocomm, the CDMA mobile phone operator, has joined hands with Indian Railways to offer for the first time train reservation facility on its Reliance IndiaMobile.
The Reliance Dhirubhai Ambani Group revealed plans of venturing into the power equipment business.
According to Reliance Money officials, the company offers 5 gm and 8 gm coins now but plans are in the offing to launch 0.5 gm, 1 gm and 2 gm coins, said
US chipmaker Advanced Micro Devices (AM) on Friday announced a $400 million investment in India over the next five years and said it will build its largest design centre in Bengaluru. AMD chief technology officer Mark Papermaster made the announcement at the annual semiconductor conference in the presence of Prime Minister Narendra Modi. Undeterred by Taiwan's Foxconn pulling out of his group's $20 billion semiconductor-making venture, mining baron Anil Agarwal said the first phase of Vedanta's chip-making project will be ready in two-and-a-half years.
Anil Ambani Group firm Reliance Broadcast Network on Wednesday said it has completed its final negotiations with US media conglomerate CBS Corp to form a JV to own and operate TV channels.
'Focus on 19,400/64,900 as the key resistance levels for the Nifty/Sensex.'
Niira Radia had said friends in high places enabled favourable EGoM decision on Sasan coal diversion, a charge staunchly denied by Reliance Power.
Anil Ambani group firm Reliance Big Entertainment on Sunday made its foray into Hollywood, with the announcement of development deals with celebrities including Angelina Jolie, Julia Roberts, Brad Pitt and Nicolas Cage. Reliance Big Entertainment, the media and entertainment company of the Reliance ADA Group, said that it will provide development funds to eight Hollywood production houses. sources said the investment would be in the range of US$ 500 million to US$ one billion
Five companies, including NTPC, Reliance Power, Lanco Infratech, Jindal Power and Sterlite Energy, of the 11 pre-qualified bidders, were in the fray for the project. The financial and technical bids for the coal-based thermal power project were invited on December 29 and the final financial bids were to be opened within 15 days.
Exit from Delhi Metro's airport express line
Scale and frugal costing help the giant.
Acquisition of stressed infrastructure assets has pushed its debt to over Rs 1 lakh crore, highlighting concerns about its growth strategy.
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