Reliance Industries Ltd on Friday reported a 9 per cent rise in its December quarter net profit as a planned maintenance-induced weakness in oil business earnings was offset by stability in retail and telecom verticals. The oil-to-retail-to-telecom conglomerate's consolidated net profit of Rs 17,265 crore, or Rs 25.52 per share, in October-December - the third quarter of the current 2023-24 fiscal - was 9.3 per cent higher than Rs 15,792 crore, or Rs 23.19 a share, earning a year back, according to a company statement. Quarter-on-quarter, the profit was lower when compared to Rs 17,394 crore earnings in the preceding three months ended September 30.
Aam Aadmi Party chief Arvind Kejriwal on Sunday took a swipe at both the Bharatiya Janata Party and Congress, questioning their stand on gas pricing issue and their "relationship" with industrialists Mukesh Ambani and Adani.
A Mahindra Scorpio car with gelatin sticks was found parked near "Antilia", the multi-storey residence of Ambani, in south Mumbai on February 25.
Sebi on Wednesday imposed a total penalty of Rs 25 crore on Mukesh Ambani, Anil Ambani, other individuals and entities for non-compliance with takeover norms in a Reliance Industries case dating back to 2000.
Former Mumbai police commissioner Param Bir Singh, who has been declared a 'proclaimed offender' by a court in Mumbai, on Wednesday said he was in Chandigarh and would visit Mumbai soon.
Kwatra briefed reporters on the outcomes of the second day of Modi's visit that began in Washington, DC with a grand ceremonial welcome on the South Lawn of the White House.
'Sweden removed the inheritance tax because many of the rich were fleeing. For example, the owner of IKEA had migrated out of Sweden'
The country's largest retailer Reliance Industries on Monday announced that it will enter the fast-moving consumer goods (FMCG) business this year as part of its expansion plan. Addressing the 45th AGM of Reliance Industries on Monday, Reliance Retail Ventures Ltd (RRVL) Director Isha Ambani said: "This year, we will launch our FMCG goods business". The objective of this business will be to develop and deliver products and solve every Indian's daily needs, with high-quality products at affordable pricing, she said while addressing Reliance Industries' annual general meeting.
'Are we so ready to believe that in this country whose virtues we constantly shout from the rooftops, there is no single person -- other than Modi -- in a minimum of 272 elected MPs with the talent and ability to lead this country?' asks Prem Panicker.
Mexican billionaire Carlos Slim has emerged as the richest person in the world with $53.5 billion in assets in the US magazine Forbes annual list of world's top billionaires.
The NIA has CCTV footage which shows the presence of Waze at the spot, the sources said.
The central agency had earlier arrested four persons, including two Mumbai police officers -- Sachin Waze and Riyaz Kazi -- in connection with these cases.
'Interim Budget has ignited the entrepreneurial spirit.'
It's party night for Bollywood!
When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.
Business conglomerate Adani Group's chairman Gautam Adani is now the world's second-richest person after overtaking Louis Vuitton's Bernard Arnault, according to Forbes' Real-Time Billionaires List. At the time of writing this report, Gautam Adani's net worth was $153.9 billion, compared to Arnault's net worth of $153.7 billion. Adani is now just behind business magnate Elon Musk, according to Forbes' data.
Mansukh Hiren is the purported owner of the explosive-laden car found outside industrialist Mukesh Ambani's residence.
Will the Vaze arrest destabilise Uddhav Thackeray's coalition government which has been under siege from a spurned Bharatiya Janata Party since the day it took office in November 2019?
April-June 2023 (Q1FY24) was a mixed quarter for India's top family-owned business groups. Three of the big five in terms of revenue reported a year-on-year (Y-o-Y) decline in combined net sales and two saw a Y-o-Y fall in net profits. Combined net sales of all listed companies in the five groups were up just 2.2 per cent Y-o-Y at Rs 6.6 trillion in the quarter, down sharply from the 10.3 per cent in the March 2023 quarter (Q4FY23) and 42.8 per cent in Q1FY23.
At least four FIRs related to extortion were registered against Singh in Mumbai and adjoining Thane.
Reliance Industries Limited on Wednesday became the first Indian company to hit the Rs 19 lakh crore market valuation mark following a rally in its share price. The market heavyweight stock jumped 1.85 per cent to its record high of Rs 2,827.10 on the BSE. Following the gain in the share price, the company's market valuation jumped to Rs 19,12,814 crore in morning trade on the BSE.
Prime Minister Narendra Modi on Wednesday said the world looks at India as an important pillar of stability, a trusted friend, an engine of growth in the global economy, a technology hub for finding solutions and a powerhouse of talented youth. He also said that in the rapidly changing world order, India is moving forward as 'vishwa mitra' (friend of the world). Speaking at the inauguration of the 10th edition of the Vibrant Gujarat Global Summit, which saw participation of state hea
Modi was addressing the State Dinner hosted in his honour by US President Joe Biden and First Lady Jill Biden at the North Lawn of the White House.
Jio Financial Services, a unit of Mukesh Ambani's Reliance Industries (RIL), got valued at Rs 1.66 trillion ($20 billion) following an hour-long special trading session conducted by stock exchanges on Thursday. Shares of RIL's unit got priced at Rs 261.85 apiece - higher than analysts' expectations of Rs 134-224 per share. The price was arrived at after calculating the difference between RIL's Wednesday (July 19) close of Rs 2,840 and Rs 2,580, the price discovered during the first-of-its-kind pre-trade session.
Suspended police officer Sachin Waze on Monday filed a 'habeas corpus' petition in the Bombay high court, challenging his arrest by the National Investigation Agency in connection with the recovery of an explosives-laden SUV near Mukesh Ambani's house.
The NIA is already probing the case related to the recovery of a Scorpio SUV, parked near Ambani's residence 'Antilia', with gelatin sticks and has arrested an assistant police inspector, Sachin Waze.
Namrata Thakker recaps stellar Indian fashion moments on the Met Gala red carpet.
Suspended police officer Sachin Waze was posted in the Crime Intelligence Unit (CIU) after oral instructions from the then Police Commissioner Param Bir Singh, according to a Mumbai Police report.
Reliance Industries Ltd on Friday reported a 27 per cent jump in its September quarter net profit as earnings from the oil and gas business rebounded, and a pick-up in fashion and grocery helped boost retail revenues. The oil-to-retail-to-telecom conglomerate's consolidated net profit of Rs 17,394 crore, or Rs 25.71 per share, in July-September - the second quarter of the current 2023-24 fiscal - was 27.3 per cent higher than Rs 13,656 crore, or Rs 19.92 a share, earning a year back, the company said in a statement. The net profit was also higher quarter-on-quarter compared to Rs 16,011 crore earnings in the preceding three months ended June 30.
According to Mukesh Ambani, this is the country's largest bonus issue.
The fall represented the second straight month of decline in subscribers. Users in the segment had reduced by 3.66 million in September, shrinking for the first time in seven months.
Security was beefed up on Monday outside industrialist Mukesh Ambani's south Mumbai residence after a taxi driver informed the police that two suspected passengers carrying bags with them had asked him about the location of 'Antilia', an official said.
'It is not his doing, but Rahul Gandhi is forced by circumstances.' 'In taking political decisions, everything has to get his clearance.'
As Mumbai wickets kept falling, Akash Ambani looked tense and did not hesitate to show his disappointment.
Gautam Adani is now the fourth richest person on the planet. The chairman of the Adani group overtook Bill Gates -- once the richest man in the world -- this week.
Prime Minister Modi's remarks on Thursday came during his address to a joint session of the US Congress. He attributed a big part of the success of India-US ties to Indian-Americans.
The number of mobile phone subscribers in India decreased by 3.66 million in September to 1.17 billion, representing the first fall in seven months, according to the latest data released by the Telecom Regulatory Authority of India (Trai). The number of subscribers had last fallen by 3.7 million back in February. In recent months, it rose by 1.08 million in August, 0.64 million in July, and 1.89 million in June.
Reliance Industries Limited (RIL) has been one of the top performing companies in the large cap space under the chairmanship of Mukesh Ambani and has beaten the broader market both in terms of earnings growth and shareholder returns. In the last 20 years, RIL's net profit has grown at a compound annual growth rate (CAGR) of 15.7 per cent while its net sales have grown at a CAGR of 15.1 per cent. RIL's net profit at consolidated level has jumped 18.5 times in the last two decades growing from Rs 3280 crore in FY02 to Rs 60,705 crore in FY22; its net sales grew 16.6 times from Rs 42,129 crore to Rs 6.99 trillion.
After monetising Jio Platforms -- which houses the firm's telecom arm and digital ventures, richest Indian Mukesh Ambani is looking to rope in investors in the retail business.
