The nation is now home to 52 billionaires, up from 27 last year and only two short of what India had at the peak of its stock market boom in 2007.
A day after Reliance Industries chairman Mukesh Ambani met Prime Minister Manmohan Singh to forestall political attempts to throttle his oil refinery business, the petroleum ministry has come out with a detailed presentation to show that the demand for the windfall profits tax (WPT) on private oil companies is 'short-sighted populism' and 'bad economics.'
The Prime Minister's Office on Tuesday tried to play down Monday's meeting between Prime Minister Manmohan Singh and Reliance Industries chairman Mukesh Ambani, saying that it was a routine matter.
RIL plunged around 4% after scaling its life-time high of Rs 1,978.50 as investors rushed to book profits after the company's AGM. Bharti Airtel, ONGC, IndusInd Bank, Bajaj Finance and SBI were also among the laggards. On the other hand, shares of Infosys rallied around 6 per cent ahead of its quarterly earnings. HCL Tech, TCS, Tech Mahindra, Axis Bank and HUL too ended with robust gains.
Reliance Retail has added 485 stores in the last one year, taking the total count to 950 and the footprint is now spread across 77 cities (58 in the last one year) across India. While his critics say Ambani may have lost the plot as the progress of his retail plans are nowhere near what he had sought to achieve, others feel the Reliance chief is just being pragmatic given the not-so-conducive environment for expansion in retail.
Reliance has no illegal Swiss Bank accounts.
Undaunted by criticism by a Parliamentary panel, the government cleared 28 fresh special economic zone proposals on Thursday, including the Navi Mumbai promoted by Reliance Industries Chairman Mukesh Ambani.
The US-India Business Council (USIBC) will confer the 'Global Vision' 2007 award for leadership on Reliance Industries Ltd chairman Mukesh Ambani in Washington on Wednesday.
Having cleared over 200 special economic zone proposals, the Board of Approval will take up 46 fresh cases on Friday.
Speaking at the 33rd convocation of the business school in Bangalore, Reliance Industries Chairman Mukesh Ambani said IIM-B graduates could make a change in the world of business. He said ethical values and moral leadership are dwindling in Indian businesses and IIM graduates should strive to fill the void of moral leadership. He stated that IIMs provide global leaders in today's knowledge economy. He also said IIM graduates have high calibre and India is benefitting from it.
Easily the biggest high-power gathering and by far the starriest event staged in Gujarat, concluded at the Reliance petro township in Jamnagar on Sunday.
'The competition between the two is definitely going to be of great interest to the Indian market.'
This was announced by Commerce and Industry Minister Kamal Nath at the conclusion of the 2nd meeting of India-Russia Forum on Trade and Investment, coinciding with the visit of Russian Prime Minister Victor A Zubkov in New Delhi on Wednesday.
Rapid urbanisation must take into account environmental issues and make use of technology to provide better amenities in cities, Reliance Industries chairman Mukesh Ambani said on Friday.
The university is expected to match the standards of institutions like Harvard, Stanford, and Oxford.
The government on Friday cleared seven co-developers in Mukesh Ambani-promoted Navi Mumbai SEZs, thus endorsing fresh investment through private equity players by a key partner of the Reliance Industries chairman, Mukesh Ambani.
The stock market rout has caused the country's five richest, led by Reliance Industries Chairman Mukesh Ambani, to lose more than $10 billion in just about a fortnight.
With pricing of natural gas from the KG-D6 block stuck, Mukesh Ambani made the second trip to New Delhi this month to meet top officials.
Global management consultancy firm McKinsey has moved the Bombay high court against Reliance Industries and Reliance Communications for non-payment of dues of Rs 27 crore
Three special economic zones promoted by Reliance Industries chairman Mukesh Ambani and his close aide Anand Jain in the same area have been listed for clearance on Friday.
Reliance Industries chairman Mukesh Ambani will deliver a special address at the first-ever, high-level investment conference on Maharashtra to beheld in New York this month.
Reliance Industries Chairman Mukesh Ambani has said that the company will use the polymer futures platform to hedge its risk because of price volatility in oil.
Reliance Industries has created history by flowing oil from the nation's first deep-sea oilfield, but gas production from the eastern offshore KG basin will begin in January, four months behind the deadline. Reliance began oil production from its predominantly gas-rich KG-DWN-98/3 or D6 block on September 17 with initial oil flowing at the rate of 5,500 barrels per day, the company Chairman Mukesh Ambani announced on Sunday in Mumbai.
Ending months of speculation, Reliance Industries today said it is considering merging group firm Indian Petrochemicals Corporation Ltd with itself.
Reliance Industries chairman Mukesh Ambani recalls his early childhood and what his father Dhirubhai taught him.
We had limited capital but our approach was different, says the RIL chairman.
Investment banking sources said Reliance had made its desire clear to be a global petrochemicals major.
Reliance Industries chairman Mukesh Ambani has overtaken NRI steel tycoon Lakshmi Mittal to become the richest Indian in the world. Ambani's net worth has soared past $50 billion.
The fuel from the KG basin will prune Rs 114,000 crore (Rs 1,140 billion) from the country's import bill. The price of $4.2 per million British thermal unit (mBtu) approved by the government for selling gas implies potential savings of about Rs 85,000 crore (Rs 850 billion) for consumers, said Ambani. Ambani's statement on gas pricing comes even as the government is considering a revision of the floor price of $4.2 mBtu that was approved in September 2007.
Mittal said his steel plants were getting gas at no less than $6 per million British thermal unit (mBtu), much lower than the $4.33 per mBtu price proposed by RIL.
Reader Ananth Kamal sent us this photograph from New Jersey, USA.
British Petroleum chairman Sir John Browne is likely to visit India next month to explore oil and gas opportunities in Asia's third largest economy.
Who owns the Navi Mumbai SEZ project? That's the question the IT department seems to be asking.
Reliance Industries Chairman Mukesh Ambani said on Tuesday organised retailing will be the 'next big idea' in the companies' plans.
A slew of investment proposals in West Bengal, starting from agri-retail chain to petrochemicals, are likely to be discussed when Reliance Industries Chairman Mukesh Ambani meets Chief Minister Buddhadev Bhattacharya in Kolkata on Wednesday.
Reliance Industries Ltd -on Saturday authorised its board committee to suggest a 'suitable scheme' of reorganisation in the wake of the settlement of ownership issues between the Ambanis.
Reliance Industries chairman Mukesh Ambani, equipped with a war chest of an estimated Rs 100,000 crore (Rs 1000 billion), is understood to be on a global hunt for acquiring a retail giant of the size of Wal-Mart or Tesco.
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