While making the announcement, Anil Ambani, chairman of ADAG, said, the partnership with Spielberg and Snider is the cornerstone of the company's Hollywood strategy.
The Telecom Dispute Settlement Appellate Tribunal (TDSAT) upholds government's decision on dual technology for RCom.
The company had a net profit of Rs 1,636.61 crore (Rs 16.36 billion) in the same quarter previous year, Reliance Communications said in a filing to the Bombay Stock Exchange.
Clashing over Reliance Industries's gas field cost, an Anil Ambani group firm on Wednesday questioned the credibility of audits commissioned by the Directorate General of Hydrocarbon, evoking sharp protest from the regulator.
Under the long-term passive infrastructure sharing agreement, Etisalat DB, a joint venture between Etisalat and Dynamix Balwas Group and its subsidiary, would outsource their telecom infrastructure requirements for the 15 telecom circles, the company said in a statement.
This would be done either through strategic sale or initial public offering, ADAG chairman Anil Ambani told shareholders at the company's annual general meeting in Mumbai.
The company will structure its services under four business segments -- Data, voice, WiMax and National Long Distance services -- that would help it increase focus on customer segments and improve revenue generation. The group will realign operations of Reliance Globalcom (formerly Flag Telecom), Reliance Globalcom Services (earlier acquired Yipes Enterprises) and Reliance Vanco Group (formerly Vanco Group) under the four proposed verticals.
"Any Reliance Money customer who has an Internet access through a GPRS or CDMA-enabled mobile phone can log in to the Reliance Money website using his or her existing user ID, security token number and trade in equities and commodities," said Reliance Money Director and CEO, Sudip Bandhopadhyay. With this initiative, the company will now be tapping approximately 347-million telecom users based in India.
The government on Wednesday asserted in the Supreme Court that any suitable arrangement between the Ambani brothers for the supply of gas from K G Basin has to be approved by it keeping the national interest paramount.
Full-fledged operations will soon start in Trivandrum, Coimbatore, Vijaywada, Vishakapatnam, Lucknow, Jaipur, Ludhiana, Chandigarh, Patna, Siliguri, Rajkot and Surat. Medybiz' current network across 10 cities include Mumbai, Delhi, Bangalore, Kolkata, Chennai and Ahmedabad said a release.
While the merger will see the share of the promoter group increase by two percentage points, the move has also seen a few analysts raise concerns.
Mitra said that Tata group firm TCS was creating additional 20,000 jobs.
Reliance Natural Resources Ltd (RNRL) lost more than a fourth of its market capitalisation in just two days of trading after the Reliance Anil Dhirubhai Ambani Group (R-ADAG) announced its merger with sister firm Reliance Power (R-Power).
Justice Markandey Katju recused himself from the matter saying his wife held shares of Reliance Industries.
The ratio is based on the valuation made by consultancy firm KPMG.
In a mega Rs 50,000-crore deal, the Anil Ambani group on Sunday announced merger of RNRL with another group firm Reliance Power, which would now become a direct beneficiary of the gas deal signed with Mukesh Ambani-led Reliance Industries.
An Anil Ambani group company has asked the oil ministry to stop Reliance Industries Ltd from charging marketing margin on gas, alleging that the Mukesh Ambani-led firm was not sharing the revenue and 'diverting' crores (billion) of rupees of the government's share.
In a sharp retort to a notice of gas supply suspension to one of its power plant, Anil Ambani group firm Reliance Infra on Wednesday questioned the legality of Mukesh Ambani-led RIL's warning for not paying an "illegal" marketing margin.
The Enforcement Directorate, which is investigating possible violations of the Foreign Exchange Management Act by some former UBS employees, has written to the UK's Financial Services Authority, seeking details of the alleged misuse of accounts of Anil Dhirubhai Ambani Group-controlled Reliance Energy and Reliance Natural Resources.
Budget to match that of smash-hit sci-fi Avatar, the most expensive movie made till date.
Reliance MediaWorks on Thursday said it has acquired an additional 1.89 lakh shares of Fame India along with two other group firms, taking the total stake in the multiplex chain to 14.34 per cent.
Anil Dhirubhai Ambani Group company Reliance Infrastructure (R-Infra) will soon be the official owner of the second phase of the Mumbai Metro project. The state government and the company will sign a concession agreement for the Rs 11,000-crore (Rs 110 billion) project on Thursday, according to sources.
A bench headed by Chief Justice K G Balakrishnan posted the matter for hearing on January 29 as some of the farmers had filed a caveat and were given the opportunity to contest the appeal filed by Reliance Power Ltd.
The Railway police on Thursday recorded the statements of three officials of Anil Dhirubhai Ambani Group who had reportedly met Bharat Borge, the Airworks technician, who was found dead on railway tracks on Tuesday.
Reliance Natural Resources Ltd (RNRL) on Monday continued to slide, falling 9.47 per cent to touch a one year-low of Rs 47.75 on the Bombay Stock Exchange, after the Supreme Court ruled against the company in a gas dispute with Reliance Industries.
The share price of other ADA group firms declined as well, including Reliance Infrastructure (lost Rs 1,660 crore), Reliance Communication (Rs 867.5 crore), Reliance Capital (637 crore) and Reliance MediaWorks (Rs 60 crore).
'While renegotiating the deal, it is likely that Anil Ambani could ask for a huge compensation from RIL to satisfy the ADAG firms' shareholders, a broker closer to the Ambanis said.
Terming as 'malicious, baseless, mischievous and ill-informed' the advertisement propaganda by Anil Ambani Group on its gas field capex, Reliance Industries has stated that the development cost was the lowest in the world and compares favourably to any other project in India.
The apex court also heard a plea for bringing back black money stashed in tax havens abroad.
It was clearly the beginning of a new era for the Anil Dhirubhai Ambani Group to start generation at what was not only their first, but also North India's first private sector thermal power plant in Rosa village on the outskirts of Shahjahanpur town in Uttar Pradesh.
The board of directors have proposed a dividend of Rs 3.50 per share on the face value of Rs 10 per share to the shareholders.
RIL said RNRL has maintained that the May 12, 2005 draft agreement between the RIL and NTPC should be the basis for fixing the price of gas from the KG Basin but it has ignored the provision for government approval.
The Anil Ambani group's Reliance Infrastructure and Hyderabad-based Lanco Infratech have so far purchased the Request for Qualification applications for taking up the Rs 12,132-crore (Rs 121.32 billion) Hyderabad Metro Rail project.
Stating that Anil Ambani Group firm's project was neither installed nor operating, petroleum minister Murli Deora had earlier this week told Parliament that the Dadri project would be considered for allocation of gas along with similar other upcoming projects. RPower said it had initiated the ICB process for selection of EPC contractors for its power plants way back in 2005 but not concluded owing to Mukesh Ambani promoted Reliance Industries Ltd's refusal to supply gas.
The strategic alliance between the two companies would address the rapidly growing demand of Hollywood studios for converting both new films shot in 2D as well as older film released in cinemas and on home platforms into the 3D format, Reliance MediaWorks said in a filing to the Bombay Stock Exchange.
The strategic alliance between the two companies would address the rapidly growing demand of Hollywood studios for converting both new films shot in 2D as well as older film released in cinemas and on home platforms into the 3D format, Reliance MediaWorks said in a filing to the Bombay Stock Exchange.
The company had raised a similar amount of debt in FY 09 as well. Reliance Power has bagged three of four contracts for developing UMPPs in the country.
A special audit of Anil Ambani group firm Reliance Communications will be delayed, as the auditor Parakh & Co. has sought an extension for three months from mid-July.
The Anil Ambani Group-promoted Reliance General Insurance is looking to buy a majority stake in its rival Royal Sundaram, while talks are in advanced stages to bring in Swiss Re as foreign partner in its life insurance venture.
In a new twist in the gas row between the Ambani brothers in the Supreme Court, the Anil Ambani-led RNRL on Thursday sought cross-examination of Petroleum Minister Murli Deora, accusing the Government of siding with the Mukesh Ambani's group RIL.
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