Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a profit before tax of around Rs 48,500 crore in the year-ago period and Rs 39,600 crore during the December quarter. While Vedanta was the worst hit. others included Aditya Birla, Bharti, Adani, Mahindra, and Tata.
The transaction pegs the total valuation of Reliance Life Insurance at approximately Rs 11,500 crore ($2.6 billion), the statement said, adding that the transaction is subject to necessary regulatory approvals.
Two ultra mega power projects are coming up at Sasan in Madhya Pradesh and Krishnapatnam in Andhra Pradesh.
The entire CBI investigation is veering around how, when, why and under which terms and conditions Shahid Balwa became a frontman for A Raja!
Ambani remained at the CBI headquarters for nearly two hours in connection with the agency's investigation into the 2G scam. The media was told he went to the CBI HQ because the Bureau had sought clarification on certain documents relating to Swan Telecom -- one of the companies allegedly involved in the 2G scam. But couldn't one of his company directors have gone instead to explain?
Reliance gold scheme does not require demat account.
Having witnessed a dip of over 4,500 staff from its headcount in last fiscal, Anil Ambani group's financial services arm Reliance Capital will hire over 3,500 managers for its various businesses this year.
Industrialist Anil Ambani met Oil Minister S Jaipal Reddy on Wednesday, seeking natural gas allocation for his group's upcoming power projects.
Reliance group chairman Anil Ambani on Thursday appeared before the Enforcement Directorate in Mumbai in connection with a money-laundering probe against Yes Bank promoter Rana Kapoor and others, officials said. The agency is expected to record the statement of Ambani under the Prevention of Money Laundering Act. The 60-year-old businessman arrived at the ED office in Ballard Estate around 9.30 am.
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.
The company will provide loans up to Rs 1 crore (Rs 10 million) under this programme, for which it has entered into an exclusive tie-up with another group firm, Reliance Mutual Fund.
These businessmen represent the top five firms that have taken loans from the crisis-hit Yes Bank and these debts were either in the red or were stressed, officials said.
Under the current norms, a prospective agent needs to undergo mandatory 50 hours of training.
New fund offer, called Reliance Fixed Horizon Fund - XX, is a close-ended income scheme and the units can be purchased only during the period of NFO.
The Reliance Anil Dhirubhai Ambani Group's Delhi Airport Express Pvt Ltd (DAMEPL) would run and maintain the line, which would reduce travel time between the heart of the capital and the Indira Gandhi International Airport to 20 minutes.
Two Anil Ambani group companies, Reliance Power and Reliance Natural Resources, on Monday said their respective shareholders have approved merger between the two entities, estimated to create a Rs 50,000-crore (Rs 500 billion) entity.
The MoU was signed during the India visit of Russian President, Dmitri Medvedev, a press release issued here today stated. Russian World Studios is one of the largest private film companies in the Russian market and has produced several projects, both for TV and the big screen.
Anil Ambani Group firm Reliance Communications on Friday said its R-World, will be powered by mobile data services and solutions provider, Motricity, which will deliver complete mobile Internet and data services. The mobile data services portal has been developed on Motricitys mCore platform which powers 3G mobile portals of many leading global 3G service providers.
The ED, in its chargesheet, had alleged that Rs 200 crore was paid by Swan Telecom (P) Ltd promoters to DMK-run Kalaignar TV.
Dubai Reliance Capital, the financial services arm of Anil Dhirubhai Ambani Group, plans to expand its operations in the Middle East, chief executive Sam Ghosh has said.
Reliance ADA Group chairman Anil Ambani has been allowed to meet two senior executives of his parent company now lodged in Tihar prison who were arrested in connection with 2G scam case.
Reliance Infra claims the run by the market operator has caused a loss of Rs. 300,000 crore to infrastructure stocks.
Finance Minister Pranab Mukherjee's Budget speech on Friday brought closer to reality, billionaire industrialist Anil Ambani's dream of entering the banking sector.
Industrialist Anil Ambani on Wednesday met Planning Commission deputy chairman Montek Singh Ahluwalia, who is reportedly in the reckoning for the post of Finance Minister in the new UPA government.
The key highlight Reliance Life Insurance Highest NAV Advantage Plan is that it offers guarantee on maturity with the highest net asset value per unit achieved during the entire 15 years policy term, Reliance Life Insurance said in a statement.
Reliance Infrastructure (R-Infra), an Anil Dhirubhai Ambani Group company, is on the warpath with the state electricity regulator. Stung by the Maharashtra Electricity Regulatory Commission's (MERC's) decision to invite expressions of interest (EoIs) for the distribution of power to Mumbai's suburbs, R-Infra is examining the possibility of legal action.
Industrialist Anil Ambani on Tuesday said that his group was looking to unlock value in its life insurance venture through listing of Reliance Life as a separate company on the bourses.
Sources said that the Malaysian prime minister invited Ambani to invest in sectors like power, media and financial businesses.
Buy-back worth Rs. 1,000 crore will be funded from investments made by the company in liquid and marketable securities.
Anil Dhirubhai Ambani Group company Reliance Life Insurance has been awarded a high rating in customer satisfaction for the third year in a row, according to a survey.
Anil Ambani, chairman of the Anil Dhirubhai Ambani Group and a former Rajya Sabha Member of Parliament, was made to wait for over an hour by the Murli Manohar Joshi-led Public Accounts Committee before he was called in for intensive questioning on the 2G spectrum issue. He pleaded that since the name of his company and some key officials figure in the chargesheet filed by the Central Bureau of Investigation on the massive scam, he would not like to say anything.
Four persons privy to the discussions told Business Standard that the deal is close to finalisation, and that regulator Forward Markets Commission (FMC) had been kept in the loop. Indiabulls holds 40 per cent stake in the exchange, which started operations less than a year ago.
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.
The government on Tuesday invited financial bids from all the nine applicants, including Bharti Airtel, Vodafone, Tata Teleservices and RCom, who had applied for participating in 3G spectrum auction.
Market players said a big upmove by the market will depend on policy action by the government to revive economic growth and corporate earnings revival.
The company added 2.8 million wireless subscribers on its GSM and CDMA platforms in the month of June, RCom said in a statement. RCom offers telephony services on both GSM and CDMA platforms.
Anil Ambani group firm Reliance Communications will acquire Digicable, the country's largest cable TV service provider, in an all-stock deal believed to be worth about $1 billion.
Hit by a massive sell-off in stocks of various group companies, Reliance Anil Dhirubhai Ambani Group today said it is a victim of a bear cartel that has caused a market value loss of over Rs 3 lakh crore (Rs 3 trillion) across the infrastructure sector in the past two weeks.
Anil Dhirubhai Ambani Group stocks plummeted on Wednesday after ADAG chairman Anil Ambani reportedly met Telecom Minister Kapil Sibal.
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