Oil-to-telecom conglomerate Reliance Industries (RIL) has emerged as the country's largest wealth creator, adding a staggering Rs 9.6 trillion over the past five years, according to Motilal Oswal's 26th Annual Wealth Creation Study. In doing so, the Mukesh Ambani-led company has beaten its own record of Rs 5.6 trillion generated in 2014-19. The study covered financial year 2015-16 (FY16) to FY21 and ranks the top 100 companies in descending order of absolute wealth created, subject to the company's stock price outperforming the BSE Sensex. The firms were also ranked according to speed (price CAGR during the period).
The NIA took over the case following orders from the Ministry of Home Affairs.
The queries, sent in November, were mainly about Capital Investment Trust, which the I-T department said, was used for the purpose of transferring foreign funds comprising global depository receipts (GDRs) of the value of $400 million to two Indian entities - Reliance Utilities & Power (RUPL) and Reliance Port & Terminal (RPTL), owned by the Ambani family. A show-cause notice issued on March 29 to Ambani's wife Nita, and their three children.
Glimpses of cheetah cubs born in Vantara, an organisation founded by animal lover Anant Mukesh Ambani.
Politicians across the political spectrum graced Radhika Merchant and Anant Ambani's wedding ceremonies at the Jio World Convention Centre at the Bandra Kurla Complex in north west Mumbai.
Mukesh Ambani is planning to provide Rs 1000 crore seed capital to kick-start a new venture that would invest in innovative business ideas, including in technology and healthcare segments. Ambani, who heads the country's most valued corporate entity Reliance Industries, will probably make this investment of about USD 250 million in his individual capacity, sources close to the development said.
Billionaire Mukesh Ambani's Reliance Retail is poised to perform a rare feat by finally turning profitable.
A bailable arrest warrant has been issued against Mukesh Ambani, chairman and managing director, Reliance Industries Ltd, by a consumer forum in Thissur for failure to pay Rs 24,000 fine to a person who had purchased a mobile from a Reliance outlet in 2003.
Leading industrialist, Mukesh Ambani,on Friday said the trend of rising energy prices is a matter of great concern and that it could rise further to three-digits going forward.
Reliance Industries CMD Mukesh Ambani made a strong argument in favour of removal of export controls by the US to give a further boost to the partnership between India and the US.
Readers Narasingam, Srinivas B and Srinivas P spotted Mukesh Ambani, chairman nad managing director of Reliance Industries, in Prague, capital of the Czech Republic.
Reliance Industries Ltd, whose offering of rock-bottom tariffs shook up the telecom industry, is looking to repeat the feat in the green energy business, where its billionaire chairman Mukesh Ambani sees promise to outshine all existing growth engines in 5-7 years. Having pledged Rs 6 lakh crore on green energy, Ambani says RIL will scale up investments in this business which will start going live in the next 12 months. "Over the next 12 months our investments across the Green Energy value chain will gradually start going live, scaling up over the next couple of years," Ambani, chairman and managing director of RIL, said in the company's latest annual report.
Energy tycoon and Reliance Industries Chairman Mukesh Ambani is the country's richest man with a personal fortune of $19.3 billion, says a report.
Billionaire Mukesh Ambani on Monday became the richest person in the world, surpassing American software czar Bill Gates, Mexican business tycoon Carlos Slim Helu and famous investment guru Warren Buffett, courtesy the bull run in the stock market.
Mukesh Ambani joined Reliance in 1981 and initiated Reliance's journey from textiles into polyester fibres and further into petrochemicals, petroleum refining and going up-stream into oil and gas exploration and production.
Though, RIL did not mention reasons for acquiring Network18, industry watchers have been active in analysing reasons for the takeover.
Billionaire Mukesh Ambani on Wednesday pitched for using the USO Fund to subsidise smartphones for select groups to help penetrate the digital revolution and said India should make the rollout of 5G or the fifth-generation technology standard for broadband cellular networks a national priority. As much as 5 per cent of the licence fee paid by telecom operators goes to the Universal Service Obligation (USO) Fund, which was set up in April 2002 for achieving universal service objectives by providing access to telephone services in rural and remote areas and creation of infrastructure for mobile services and broadband in these areas. However, according to the CAG, less than half of the funds so collected are transferred for the said purpose.
The cumulative wealth of 284 Indian billionaires is a third of the country's GDP, a report said on Thursday.
'The sincerity and commitment to art is something you don't see much these days; it's more about the moolah.'
The home ministry has tasked country's lead anti-Naxal operations force Central Reserve Police Force to take the responsibility with immediate effect after the proposal to this effect was cleared by the office of Home Minister Sushilkumar Shinde.
Only Mukesh Ambani and Gautam Adani are ahead of her.
High or low, back and forth, Mukesh Ambani seems to gain from any which way the market moves as his wealth grew by over Rs 2,600 crore (Rs 26 billion) after the initial setback saw the Sensex tanking over 1,700 points and the top five richest Indians losing about Rs 1 trillion.
Billionaire Gautam Adani's younger son Jeet will wed next month in a simple and traditional ceremony, without any pomp and show and celebrity stars. Adani, on Mahakumbh pilgrimage with his family, scorched speculations of a star-studded wedding of his son Jeet with Diva Shah, daughter of Surat diamond merchant Jaimin Shah. "It will be a very simple, traditional marriage... just like common people," he told reporters in Prayagraj.
Mukesh Ambani getting his palm read by Rakesh Sharma at USIBC Gala Dinner
In the previous fiscal year, he drew a Rs 15 crore salary from the company -- the same as in the previous 11 years.
Reliance Group Chairman Mukesh Ambani has admitted to differences with his brother Anil over 'ownership issues,' but said "they are in the private domain."
Some of India's largest conglomerates are gearing up to either commission or commercially start the first phase of their new energy projects this year, according to company executives and analysts.
Billionaire Mukesh Ambani for the second year in a row drew no salary from his flagship firm Reliance Industries in the last fiscal as he voluntarily gave up remuneration in light of the pandemic hitting the business and economy. In its latest annual report, Reliance said Ambani's remuneration for the financial year 2020-21 was "nil". In June 2020, Mukesh D Ambani, chairman and managing director of Reliance Industries, voluntarily decided to forego his salary for the year 2020-21, in light of the COVID-19 outbreak in India, which exacted a huge toll on the societal, economic and industrial health of the nation.
It does three things kick-starts big-ticket consolidation, gets another serious industrial house into media and raises a clarion call for an independent (of the government) media regulator.
Dhirubhai may or may not have owned the government; it would seem his son wants to own the market, notes T N Ninan.
In a curious move, Reliance Industries' (RIL) executive director and Mukesh Ambani's trusted aide PMS Prasad pledged 600,000 shares of the company last month, which is 93.75 per cent of the total shares he owns in RIL. Prasad owned a total of 640,000 RIL shares and his compensation stood at Rs 11.15 crore in FY20.
The TMC-led West Bengal government has already started laying the groundwork for the election, setting the tone with the recent Bengal Global Business Summit and the state Budget.
Mukesh Ambani's AGM speeches indicate a trail of forgotten promises and projects that have not ended up as envisaged.
Amid the ongoing controversy over limited mobility service by basic telecom operators, Reliance Industries asserted on Monday that it was keeping its telecom services in conformity with the licence conditions and said it wanted fair returns and was n
Mukesh Ambani is also a member of the Prime Minister's Council on Trade and Industry.
India now has 284 billionaires, 13 more than last year, maintaining its position as the third-largest dollar-billionaire hub globally, after the US and China.
No comments could be obtained from the spokespersons of either Reliance Industries Limited or Anil Dhirubhai Ambani Group.
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