Future Retail's independent directors had last week asked Amazon if it was willing to give a long-term loan to avoid default on repayment of Rs 3,500 crore loan due on January 29. Amazon replied to that saying it was willing to financially assist Future Retail through the Samara Capital deal but the retailer must shelve Rs 24,713 crore deal with the Reliance group.
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.
Industrialist Gautam Adani slipped out of the World' Real-time Billionaires list of Forbes on Friday and was placed in 22nd position. Gautam Adani's wealth had declined 21.77 per cent or $16.2 billion. The current net worth of the industrialist was $581.1 billion at 1.23 pm (IST) on Friday afternoon, while Reliance Industries Mukesh Ambani's net worth was at $82 billion.
Reliance ADA Group chairman Anil Ambani on Monday appeared before the Enforcement Directorate (ED) in Mumbai and recorded his statement in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. Ambani, 64, deposed at the office of the federal agency in south Mumbai. Ambani's statement was recorded as part of a fresh case filed under various sections of the Foreign Exchange Management Act (FEMA), the sources said without elaborating.
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.
Mukesh Ambani has resigned from the board of his group's telecom arm, Reliance Jio and handed over the reins of the company to elder son Akash, a step seen as succession planning by the 65-year old billionaire. In a stock exchange filing, Reliance Jio Infocomm said the company's board at a meeting on June 27, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company." This comes after his father resigned with effect from close of working hours on June 27, it said.
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.
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.
The company is keen on creating 'a differentiated e-commerce model'.
Wants to achieve sales of Rs 40,000 - 50,000 crore.
Analysts said with more power sector companies referred to the NCLT by banks, large companies would be at an advantage.
Reliance Capital and Reliance Home Finance said that PWC cited the companies' failure to convene audit committee meetings within the expected time, despite multiple letters of intent sent to them, as one of the reasons for the resignation.
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.
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.'
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.
Buy-back worth Rs. 1,000 crore will be funded from investments made by the company in liquid and marketable securities.
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.
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 Industries chairman Mukesh Ambani has overtaken Adani Group chairman Gautam Adani to become the richest Indian in the world with a net worth of $84.3 billion, according to Forbes Real-time billionaire list for 2023. Ambani overtook Adani after the Reliance Industries chairman's assets went up 0.19 per cent with an increase of wealth by $64 million while Gautam Adani's assets went down by 4.62 per cent with the industrialist's weath pegged at $84.1 billion according to the real time tracker of Forbes of 5 pm EST on Tuesday. Adani who figured among the top three billionaires in the world has dropped in the ranking to number 10 just below Mukesh Ambani.
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.
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.
HDFC MF witnessed 17% rise in investment in its schemes to Rs 6,462 crore by group companies during May.
How much do you know about the Vibrant Gujarat Global Summit 2024?
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.
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
Ending months of speculation, Reliance Industries today said it is considering merging group firm Indian Petrochemicals Corporation Ltd with itself.
Social media platform Meta has appointed Vikas Purohit as Director of Global Business Group in India to lead the strategy and delivery of the charter that is focused on the country's leading advertisers and agency partners, the company said on Monday. Purohit will report to Arun Srinivas, director and head of ads business for Meta in India, it said in a statement. "I am thrilled to welcome Vikas as he joins our team to shape the role that Meta platforms can play in enabling businesses, supporting India's economic growth, and building the digital advertising ecosystem of the country," Srinivas said.
Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
'Sweden removed the inheritance tax because many of the rich were fleeing. For example, the owner of IKEA had migrated out of Sweden'
'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.'
In a development that could prove to be a major setback for Anil Ambani group, the E Sreedharan Committee, entrusted with the task of revaluating the bids and procedure for the Rs 5,400 crore
Reliance Industries lost its position of the country's most valued company to Tata group firm TCS this afternoon, as the shares of billionaire Mukesh Ambani-led corporate giant fell sharply in a weak market.
RTL is part of Europe's largest media firm, Bertelsmann AG, and has a market cap of $15.5 billion (Rs 69,900 crore).
Market regulator Securities and Exchange Board of India on Saturday maintained a strict silence over the settlement reached between the Ambani brothers over the ownership issues of Reliance empire, ending perhaps the longest and fiercest battle in co
After making its entry into the Bombay Stock Exchange's benchmark 30-share index Sensex in May
