The new fund, which is different from gold exchange traded funds that require subscribers to have a demat account, will also offer investors the option to invest as little as Rs 100 per month, the company said in Mumbai.
The revised GSMA was signed pursuant to the Supreme Court's May 7 judgement, turning down RNRL's demand for cheap gas from RIL based on a family agreement.
Both signed a non-binding deal on Sunday.
A sharp rise in Reliance-Anil Dhirubhai Ambani Group (ADAG) stock prices baffled market players on Tuesday.
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.
In a major development, the two Ambani brothers -- Mukesh and Anil -- on Sunday decided to bury their differences and create an environment of harmony, co-operation and collaboration between their groups. "All existing non-compete agreement between the two groups executed in January 2006 cancelled," the Anil Ambani group said in a statement. The harmony comes within a few days of the Supreme Court declining to give any relief to the younger brother in the gas dispute.
Ambani flew to Badrinath, which reopened to the public today, from Dehra Dun in a helicopter to pay obeisance to Lord Badri.
The company, which is bullish on its growth prospects, plans to double the gold coin sales from the current 1,000 kg by the end of the current financial year.
One of the country's biggest corporate court battles, between Ambani brothers Mukesh and Anil, had a celebrity spectator -- King of Bollywood Shah Rukh Khan.
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.
According to sources, Reliance Infratel would offer 10 per cent equity to the public valued at Rs 5,000-6,000 crore (Rs 50-60 billion). Reliance Infratel is the telecom infrastructure division of Reliance Communications Ltd.
BSNL on Monday moved the Supreme Court against an order of telecom tribunal TDSAT, directing it to provide interconnection to Anil Ambani group firm Reliance Communications through copper-based link.
A consortium of insurers, led by Anil Ambani group's Reliance General Insurance, has made final payment of $20 million (about Rs 90 crore) towards aircraft insurance claims arising from the Mangalore crash in May.
Anil Ambani Group firm Reliance Energy, Tata Power, GMR and aluminium manufacturer Nalco are keen to enter nuclear power business, NPCIL Director (Finance) JK Ghai said.
The bigwigs of cyberia are cashing in on the popularity of reality TV and social networking amongst the youth.
In an affidavit filed before the apex court, the government said that the petition challenging the use of coal for projects other than 4,000-MW Sasan Ultra-Mega Power Project was filed on a totally false basis and 'gives a totally misleading and erroneous impression'.
Reliance ADAG is diversifying its services for stability and investing in Hollywood to reach scale.
The company has executed financing agreements for the imported coal fired project, the largest in South India.
Reliance Power (R-Power), a Reliance-Anil Dhirubhai Ambani Group (ADAG) company, is close to finalising a gas-based power plant in Gujarat with a capacity of 7,000 Mw to 8,000 Mw. This would entail an investment of around Rs 30,000 crore, based on investment levels that are normally required for power projects at present.
Reliance Industries Limited's chairman Mukesh Ambani last week told company shareholders that his firm will supply gas to ADAG plants as and when they are ready and it is subject to the allocation being made by the government.
In a free-wheeling interview with Jyoti Mukul, Sibal makes a case for his innocence and blames the media campaign by the Anil Ambani group for the current controversy.
Reliance Industries chairman and managing director Mukesh Ambani confirmed the truce pact with Anil Ambani.
Anil Ambani group on Monday said the oil ministry's interference in marketing and pricing dampened investor interest in India's auction of oil and gas blocks and its chairman had warned the Prime Minister about the same.
Reliance ADA Group challenged Sibal to bring on record anything to support his 'wild allegations,' while adding that it would file criminal proceedings against DGH.
Reliance MediaWorks, along with two other ADAG firms, has acquired a further 0.25 per cent stake in Fame India, hiking their combined holding in the multiplex chain to 15.28 per cent.
Anil Ambani Group firm Reliance Power has chalked out an ambitious plan to invest about Rs 80,000 crore (Rs 800 billion) in the next three years for creating 20,000 MW of thermal power generation capacity.
Reliance Infra has sent a letter to Reliance Industries on September 24 informing the of the shutdown of the 220MW power plant in Andhra Pradesh for maintenance to September 28 instead of a day earlier.
The central bank is engaged with other financial institutions for investment as part of the scheme to resurrect Yes Bank under RBI imposed moratorium since March 5.
Welcoming the truce between the Ambani brothers Mukesh and Anil, Finance Minister Pranab Mukherjee on Monday said it would do a lot of good to the business world.
The broker close to Ambani family, said that one of the biggest reasons for the truce to come about so swiftly was that it opens up new areas -- like financial services, telecommunications, media, among others -- for Mukesh Ambani to enter into. He said that the elder Ambani has ambitions to establish a major bank on the lines of private sector giants like ICICI Bank and HDFC Bank.
The company has reorganised the Big Cinemas operations into geographies to adequately support its expansion in regional markets, Reliance MediaWorks said in a filing to the Bombay Stock Exchange. Big Cinemas would focus on the company's operations in North, East and Central India.
The Reliance-Anil Dhirubhai Ambani Group has picked up a 15 per cent stake for Rs 225 crore (Rs 2.25 billion) in a new international airport coming up at Aranmula in Pathanamthitta district of central Kerala.
The Reliance-Anil Dhirubhai Ambani Group (R-ADAG) has picked up a 15 per cent stake for Rs 225 crore (Rs 2.25 billion) in a new international airport coming up at Aranmula in Pathanamthitta district of central Kerala.
Anil Ambani Group's DTH arm Reliance BIG TV is believed to be in discussion with content providers like Max Broadcasting, Warner Home Entertainment Group and CNN to acquire non-film content for its pay per view platform.
Reliance Infrastructure, part of the Anil Dhirubhai Ambani Group, has said the recent Supreme Court order on gas supply to sister firm Reliance Power (45 per cent owned by R-Infra) will not impact its projects.
A short-term (five-year) price is not relevant beyond a point when power plants have a life of 15-20 years, says J P Chalasani, CEO, Reliance Power.
There is nothing much for Anil Ambani group firm Reliance Natural Resources Ltd to renegotiate with Reliance Industries Ltd, as the price and quantity of gas it is seeking will be dictated by the government policy and the tenure of supply will depend on life of the fields.
The Supreme Court on Friday rejected division of gas under the Ambani family MoU and said that it was government's right to decide the price and utilisation of the fuel, which is a national asset.
Anil Ambani Group firm RNRL on Tuesday welcomed the government's move to protect NTPC's interest on sourcing gas from Reliance Industries, saying effective legal steps will defeat the Mukesh Ambani firm's 'malafide attempts to dishonour' its commitment.
Continuing its attack on Petroleum Ministry, Anil Ambani group on Thursday criticised it for its failure to attract top global players for oil and gas exploration and production due to lack of sanctity attached to concluded contracts.
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