ADAG group company Reliance Energy Ltd is the second-lowest bidder for the Rs 16,000 crore (Rs 160 billion) project, after Lanco. However, with the Lanco bid becoming invalid, REL could claim to be the lowest bidder.
Videsh Sanchar Nigam Ltd said on Tuesday it is studying FLAG Telecom's claim of a monetary relief of about 406 million dollar and will file its response with the Tribunal in due course.
Reliance Mutual Fund has the highest asset under managment among all the Indian mutual fund houses, as on June 30 its AUM was over Rs 59,857 crore (Rs 598.57 billion) and had 32.8 lakh investors.
The matter was mentioned before a bench of Delhi high court's acting chief justice Gita Mittal and kustice C Hari Shankar by Additional Solicitor General Tushar Mehta. The court allowed it to be listed for hearing on Wednesday.
Adlabs Launches India's First 6D Cinema at Agra. This cinematic technology promises out of this world experiences where the audience can simultaneously see, smell, hear, touch and 'feel' the movie by using cutting-edge visual and audio effects.
Anil Dhirubhai Ambani Group company Reliance Energy Ltd on Thursday announced it has bagged three road projects valued at Rs 2,320 crore (Rs 23.2 billion) from National Highways Authority of India.
Anil Ambani Group firm Flag Telecom on Monday announced the acquisition of US-based Ethernet services provider Yipes Communications for 300 million dollars (Rs 1,200 crore) in cash.
Reliance Power is being touted as India's biggest ever IPO with an estimated size of over $3 billion, surpassing just over $2 billion raised by DLF. This would be the first ever IPO from Anil Ambani group after being carved out from the erstwhile Reliance empire in 2005.
Sources, however, said that the company has entered into a deal with some American and European investors for the pre-IPO placement. The latest deal values the company at around Rs 50,000 crore (Rs 500 billion) while the earlier 5 per cent stake dilution that Reliance Infratel had made, valued the company at about Rs 28,000 crore (Rs 280 billion).
The company has entered into exclusive tie-ups with the US-based PopCap Games, Playfirst, and Russian game developer and distributor, Alawar, to provide content for casual (not the high-end ones) games.
The battle for subscribers in the direct-to-home space is set to get hotter, with new player Big TV expected to fire a price war. Anil Dhirubhai Ambani Group's Big TV will be commercially launched sometime in May and is looking at tying up over 5 to 5.5 million subscribers even before its launch.
The group has earmarked over Rs 4,000 crore (Rs 40 billion) to acquire coal mines in foreign countries.
Shah Rukh Khan's Kolkata Knight Riders have signed on Zapak Digital Entertainment, a Reliance Anil Dhirubhai Ambani Group (ADAG) venture, to develop online games for them. As part of the exclusive one-year tie-up, Zapak will create a cricket gaming zone on the official website of the Knight Riders and is said to make an investment of Rs 1 crore (Rs 10 million) in the deal. The exact value of the deal is not known. The portal has already gone live with two games.
The telecom services provider had a net profit of Rs 1,395.14 crore (Rs 13.95 billion) in the third quarter of FY'08, RCom said in a filing to the Bombay Stock Exchange. RCom's total income rose by 18.75 per cent to Rs 5,671.82 crore (Rs 56.71 billion) for the quarter under review from Rs 4,776.26 crore (rs 47.76 billion) in the corresponding period last fiscal.
RNRL and Mukesh Ambani's RIL are fighting a legal battle over the terms of gas supply agreement for Anil Ambani Group's gas-based Dadri power project. Two weeks ago, government lawyer Mohan Parasaran had stated in the court that the Empowered Group of Ministers had decided that $4.2 per mmbtu would be the minimum price of KG basin gas.
Anil Ambani group firm Reliance Energy on Tuesday said it has bought shares worth over Rs 230 crore, representing nearly 30 per cent of the buyback offer.Reliance Energy bought back 81,680 equity shares on Tuesday, it added. The last date for the buyback would be March 4, 2009, a year from the date of the Board's approval for the offer.
Anil Dhirubhai Ambani Group's Reliance General Insurance has become the second largest non-life private insurer, toppling Bajaj Allianz, in terms of premium collections of Rs 221 crore (Rs 2.21 billion) in April.
Anil Ambani Group company, Reliance Communication Ventures Ltd said on Monday it will raise upto $1 billion through its Sponsored Global Depository Receipts and American Depository Receipts programme.
Reliance Power Limited, the flagship company of the Reliance Anil Dhirubhai Ambani Group (ADAG), plans to invest about Rs 2,500-3,000 crore (Rs 25-30 billion) over a period of three years, to develop three coal mines to fuel its Sasan Ultra Mega Power Project in Madhya Pradesh. Reliance Power currently has access to coal reserves of about one billion tonnes in India and abroad, including a coal mine in Indonesia, which it acquired recently.
The Reliance Anil Dhirubhai Ambani Group (R-ADAG) has chalked out a roadmap for its online and offline video rental business - BigFlicks - which works on the lines of the US video rental distribution network - Blockbuster. The group plans to raise the number of such stores to 500 across 35-40 cities by April 2009 from the current 22 stores in 6 cities.The retail video service had a soft launch last year following the video-on-demand portal BigFlicks' launch in August 2007.
Anil Ambani group's Reliance Money on Tuesday sparked a price war in the highly competitive brokerage space by offering a free trading account to its demat account holders, with an aim to tap up to 30 crore (300 million) potential clients. Reliance Money also announced a partnership with Corporation Bank to offer broking services to 9.5 million account holders of the public sector lender.
Flag Telecom, a fully owned subsidiary of Reliance Communications, is divesting 15-20 per cent of its equity stake to strategic and financial investors.
Mukesh Ambani Group-controlled Indian Petrochemicals Corporation Ltd said on Friday there would be no change in its management post amalgamation of its subsidiaries with itself.
The board formally approved 10 SEZs, including a 16 hectare IT zone of Tata Consultancy Services in Kolkata, Saloni Business Park Private Ltd's 27.5 hectare biotech zone in Thane and a 4.77 hectare electronic hardware and IT zone in Raigad, proposed by Modern India Property Developer.
The Bombay High Court on Monday asked Mukesh Ambani-led Reliance Industries and Anil Ambani group firm Reliance Natural Resources Ltd to renegotiate within four months, a Gas Supply Master Agreement (GSMA) between them saying it has to be a "bankable" pact.
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.
Anil Dhirubhai Ambani Group (ADAG) company, the Rs 6,576-crore Reliance Energy (REL) on Wednesday announced that it would buy back its shares through open market purchases at a maximum price of Rs 1,600 per share.
Anil Ambani group company FLAG Telecom on Wednesday announced the appointment of Punit Garg, who was heading Reliance Infocomm's international business, as its president.\n\n
Reliance Communications will be investing around Rs 15,000 crore (Rs 150 billion) to set up and install an additional 15,000 base transceiver stations in the country.
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.
"A meeting of the board of directors of the company will be held on March 5 to consider buyback of equity shares of the company," Reliance Energy said in a communique to the Bombay Stock Exchange.
R-Power has asked its shareholders to pay up the balance payment by Feb 26, to avail of bonus shares.
A Bench headed by Justice S H Kapadia, while setting aside the high court order, directed Reliance Energy to submit its financial bid for the project within three months.
Anil Ambani group's Reliance Power on Monday made its debut on the bourses, listing at a premium of over 20 per cent, but slipped below the issue price in early morning trade.
Three Japanese submarine cable construction companies have been short-listed by Flag Telecom, a wholly-owned subsidiary of Reliance Communications
Anil Ambani group distanced itself from CBI's action on Monday accusing top officials of Reliance Infocomm for illegal call routing (before the split between Ambani brothers).
The Western Vidarbha region comprising three districts of Akola, Washim and Buldana recorded bids of over Rs 50 crore (Rs 500 million) in the IPO that had opened on January 15, according to banking and private money market sources.
The Anil Dhirubhai Ambani Group, which is raising Rs 11,700 crore through the public offer of Reliance Power, has seen a value erosion of Rs 48,000 crore in the last seven days.
Anil Ambani Group firm Reliance Power's IPO on Thursday generated a record demand, with bids pouring in for shares worth Rs 2,34,000 crore ($ 60 billion) an amount that is over three times the money ploughed in by FIIs and mutual funds in the stock market in 2007.
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