The Ambani brothers on Saturday reached a settlement to split between themselves, assets of India's largest private sector conglomerate, with over Rs 97,000 crore (Rs 970 billion) in revenues, founded by their late father Dhirubhai.
The Central Bureau of Investigation (CBI) began making submissions on Monday on its appeal before the Delhi high court challenging the acquittal of accused persons, including former telecom minister A Raja, and firms in the 2G spectrum allocation scam case in December 2017.
Reliance Big Entertainment (RBE), the flagship media and entertainment arm of the Reliance Anil Dhirubhai Ambani Group, has announced a joint venture with Tom Hanks and Gary Goetzman's Playtone.
Prime Minister Narendra Modi said on Friday that the combination of technology and talent will be a guarantee for a bright future for the world.
The company is keen on creating 'a differentiated e-commerce model'.
Anil Ambani Group's Reliance Money today signed an agreement with Tata group's IT arm CMC Ltd for setting up financial retail kiosks, besides training students of the software solutions provider in finance.
The move comes just two days after Reliance Power, another group company in which REL owns 45 per cent, offered bonus shares to its shareholders in the ratio of 3:5.
Wants to achieve sales of Rs 40,000 - 50,000 crore.
In what is in effect a deposit to be paid into court pending a full trial in the case, Judge David Waksman has set a six-week timeline for Anil to pay $100 million to three Chinese banks as he concluded that he did not accept Ambani's defence that his net worth was nearly zero or that his family would not step in to assist him when "push came to shove".
Anil Ambani Group company Reliance Capital has acquired a 4.98 per cent stake in an infra developer Trinethra Infra through an open market transaction.
Reliance Big Entertainment has agreed to acquire 50 per cent shareholding in Codemasters, the company said in a statement. The company, however, did not disclose amount involved in this deal.
Over 30 million students across the country, who have appeared for Class X and XII besides other competitive exams, can view their results on Reliance mobile phones on its popular mobile portal R-World.
HDFC MF witnessed 17% rise in investment in its schemes to Rs 6,462 crore by group companies during May.
India Inc is gearing up for a slugfest this year and from tech to paints, new battlegrounds are emerging, observes Indrajit Gupta, co-founder, Founding Fuel.
Justice Dinesh Kumar Sharma said the parties shall file brief written submissions not exceeding five pages.
Buy-back worth Rs. 1,000 crore will be funded from investments made by the company in liquid and marketable securities.
The first-phase of the three-phase project is to set up the trade tower on over 4 million sq. ft area. The second phase is to develop the business district on 30 acres in seven years. In the third phase the remaining 16.28 acres of the business district on would be developed.
The slowdown in corporate revenue growth over the last one year has begun to reflect in India Inc's capital expenditure, or capex. The country's top listed companies are going slow on fresh investment in capacity expansion, in line with a deceleration in their top line growth. The combined fixed assets of the listed companies, excluding banking, finance services and insurance (BFSI) and the government-owned oil & gas firms, were up 10.1 per cent year-on-year (Y-o-Y) during April-September 2023 (H1FY24) - the slowest in 18 months - as against 21.1 per cent Y-o-Y growth in H2FY23 (October 2022-March 2023) and 11.6 per cent growth in the April-September 2022 period (H1FY23).
A bench headed by Chief Justice K G Balakrishnan was hearing a petition moved by Reliance Power, promoted by the Anil Dhirubhai Ambani Group, against the Jagrut Grahak Suraksha Mahila Mandal alleging that there was a 'malafide and illegal campaign by certain interested persons to stop or delay the IPO to be launched on January 15.'
Prithvi Raj Singh Oberoi, chairman of the Oberoi group of hotels, says many people had approached him for picking up stake in EIH, but their investment objectives were not compatible with the company's.
Reliance Money has emerged as the top brokerage house in terms of online security and cost effectiveness, while Motilal Oswal leads as the most research driven stock trading platform, a survey says.
Anil Ambani controlled Reliance Power, which received a tremendous response for its initial public offer, has fixed the issue price at Rs 450 per share, but it will be offered at Rs 430 to retail investors, a discount of Rs 20. "The company's board has fixed the issue price at top-end at Rs 450 per share for the Reliance Power issue and for retail investors at Rs 430 per share," Reliance Power chairman Anil Ambani said on Saturday.
Sources said the letter of intent (LoI) for the group's foray into DTH was given on Monday to Blue Sky Magic, a company of the Reliance-ADA group.\n\n
The CBI contended before the Delhi high court on Tuesday that there were glaring illegalities in the trial court judgment that acquitted former telecom minister A Raja and others in the 2G spectrum allocation scam case.
The Anil Dhirubhai Ambani Group Company also announced to invest Rs 1,000-1,200 crore (Rs 10 to 12 billion) on expansion of its life insurance business in the next 2-3 years. The company is aiming to sell one million 'Express Life' policies in this financial year.
Reliance Capital Asset Management, controlled by Anil Ambani, has sold a 5 per cent stake to Eton Park Capital Management in a deal that for the first time puts a value on India's largest mutual fund.
The oil-to-telecom conglomerate reported an 8.8 per cent rise in its consolidated net profit to Rs 10,251 crore, or Rs 17.3 per share, in the third quarter ended December 31, 2018.
The Supreme Court made it clear on Thursday it will not allow stalling of the arbitral proceedings pending before the Singapore International Arbitration Centre (SIAC) pertaining to the ongoing legal tussle between US e-commerce major Amazon and the Future Group, saying the sanctity of such proceedings needed to be maintained. "You (Future group and others) cannot keep stultifying the proceeding before the arbitral tribunal and this is just a ploy to delay the proceeding. "These are all ploys by well-heeled parties to delay the arbitration proceeding.
From the Sensex pack, NTPC, Tata Motors, Titan, Larsen & Toubro, Reliance Industries, IndusInd Bank, Infosys, HDFC Bank and Power Grid were among the major gainers. Wipro and Tech Mahindra were the laggards.
'It is very difficult to be an honest politician in a country where the system is absolutely corrupt. Jaipal Reddy is one up even on Prime Minister Manmohan Singh who is considered clean and honest. Reddy has gone a step ahead by playing an active role in stopping corruption. He has put things on record; he has walked the extra mile to ensure that public money is valued highly. One must recognise Reddy's efforts, and make it an example for India's younger generation.'
Public sector lender Bank of India has moved to the National Company Law Tribunal (NCLT) seeking initiation of insolvency proceedings against Future Retail Ltd and a moratorium over the assets of the Kishore Biyani-led debt-ridden firm. Besides, Bank of India (BOI), the lead banker of a consortium of banks that lent money to Future Retail Ltd (FRL), also suggested the insolvency tribunal appoint Vijay Kumar V Iyer as the interim professional of the company. Meanwhile FRL, in a regulatory filing, said it has been served and received a copy of the petition and is in the "process of taking legal advice".
Ending months of speculation, Reliance Industries today said it is considering merging group firm Indian Petrochemicals Corporation Ltd with itself.
The Adani Group has overtaken Mukesh Ambani Group to become the country's second biggest business group in terms of market cap behind Tatas. Adani Group cos now have a combined m-cap of Rs 19.44 trillion against Ambani Group cos combined m-cap of Rs 17.89 trillion. Tata Group leads the league table with the group market capitalisation of Rs 21.73 trillion on Monday. The Adani Group companies, however, continue to out-perform firms from business groups and the broader market on the bourses by a big margin.
The Bombay high court on Monday directed the Income Tax department not to take any coercive action against Reliance Group chairman Anil Ambani till November 17 on a show cause notice issued to him seeking to prosecute him under the Black Money Act. The I-T department had issued the notice to Ambani on August 8, 2022 for allegedly evading Rs 420 crore in taxes on undisclosed funds worth more than Rs 814 crore held in two Swiss bank accounts. The department has charged Ambani (63) with "wilful" evasion, saying he "intentionally" did not disclose his foreign bank account details and financial interests to Indian tax authorities.
India's trade account could come under pressure and there could be an inflation push if crude oil prices remain above the $90 per barrel (Brent) for a prolonged period since India imports over 85 per cent of its oil and roughly 50 per cent of its gas. A rebound in economic activity is bound to lead to higher fuel demand. While India is the third-largest importer of crude, it is a net exporter of refined products, which helps to compensate to some degree.
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