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.
ADAG has drawn up plans to invest Rs 650 billion in the steel, cement and shipping se three new areas over the next five years. The investment includes Rs 200 billion to set-up a 10 million cement plant and Rs 400 billion towards a steel plant in Jharkhand. The group believes that the three new lines of businesses fit more with RNRL than with other companies under the group, an ADAG source said.
Anil Ambani is eyeing the fast-growing GSM-based service with massive expansion plans in eight circles at an estimated investment of Rs 1,600 crore (Rs 16 billion).
TV 18 is all set to announce its next partnership with premium niche channels.
At $4.64 per mBtu, KG gas is alleged to be over-priced.
The MTN-Reliance Communications merger, if it gets through, will create a telecom behemoth of 115 million subscribers in 25 countries.
The first off the block appears to be the Reliance Anil Dhirubhai Ambani Group (R-ADAG), which is investing Rs 1,200 crore (Rs 12 billion) in setting up a large drug distribution backbone.
Buoyed by tremendous consumer response and with banking on its huge roll-out plan, Anil Dhirubhai Ambani Group's brokerage and distribution arm Reliance Money expects to break-even by the end of the current fiscal.
The Mayawati-led Uttar Pradesh Cabinet decided to refer the 1,200-acre SEZ proposal to New Delhi as it violated the contiguity norms laid down by it.
Anil Dhirubhai Ambani Group firm Reliance Capital said on Monday it has acquired a 5 per cent stake in Network 18, the group holding company of broadcasters TV18 and GBN.
Continuing its attack on the Anil Dhirubhai Ambani Group, the Mukesh Ambani camp on Tuesday alleged that shares of their group worth nearly Rs 535 crore (Rs 5.35 billion) were transferred "fraudulently" -- a charge denied by ADAG stoutly.
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.
There's talk that the Reliance Anil Dhirubhai Ambani Group is eyeing a minority stake in the carrier. It's also possible that private equity players like Texas Pacific Group may want a slice of the low-cost carrier's equity.
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.
Flag Telecom, a 100 per cent subsidiary of Reliance Communication (RComm), has mandated Goldman Sachs and Deutsche Bank as lead managers for the maiden initial public offering (IPO) on the London Stock Exchange.
The CBI contended before the Delhi high court on Tuesday that there were glaring illegalities in the trial court judgment that acquitted former telecom minister A Raja and others in the 2G spectrum allocation scam case.
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.
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 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.
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.
With the listing of Reliance Power, the market cap of Anil Ambani group aggregated to Rs 307,112 crore (Rs 3,071.12 billion), almost Rs 100,000 crore (Rs 1,000 billion) below expectations of Rs 400,000 crore (Rs 4,000 billion) capitalisation.
Reliance Comm wants all of Hutch Essar at one go.
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.
It also questioned the motive behind filing the PIL and asked the petitioner to file the detailed of the land owner's who have been affected by the acquisition.
Reliance Entertainment, controlled by the Anil Dhirubhai Ambani Group, is divesting a 5 per cent equity stake at an enterprise value of $1.5 billion (about Rs 6,000 crore).
It is yet to be decided whether the Rs 2,356 crore (Rs 23.56 billion) Phase One of the project is eligible for VGF or not, a key Finance Ministry official told PTI. \n
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