The move by Reliance Communications to outsource its IT requirements would result in an upfront cost savings of around $200 million (Rs 900 crore), with the company seeking a guarantee to this effect from the vendors.
The company has executed financing agreements for the imported coal fired project, the largest in South India.
The seven listed companies of the Anil Ambani Group, led by Reliance Power and RCom, made their investors wealthier by Rs 16,969 crore.
Anil Ambani Group firm Reliance Money on Monday said it is undertaking a performance monitoring exercise for its staff which could result in separation of about 300 employees due to their under-performance.
Punjab government has approved Anil Ambani Group's Rs 5,000-crore (Rs 50 billion) multi-product special economic zone in the state.
Having witnessed a dip of over 4,500 staff from its headcount in last fiscal, Anil Ambani group's financial services arm Reliance Capital will hire over 3,500 managers for its various businesses this year.
Anil Ambani Group company, Reliance Communication Ventures Ltd said on Monday it will raise upto $1 billion through its Sponsored Global Depository Receipts and American Depository Receipts programme.
Anil said the company is in the process of signing a contract with the Indian Coast Guard for the first defence order for 14 fast patrol vessels
The MoU was signed during the India visit of Russian President, Dmitri Medvedev, a press release issued here today stated. Russian World Studios is one of the largest private film companies in the Russian market and has produced several projects, both for TV and the big screen.
The shares of the company, which operates radio station Big 92.7 FM, opened at Rs 89.75 and soon gained momentum to touch a high of Rs 138.40 on the BSE.
Anil Ambani Group firm Reliance Fuel Resources Ltd has sought government permission to lay a Rs 16,000-crore (Rs 160 billion) pipeline to take natural gas from Reliance Industries-operated field off the Andhra coast to its power plant at Dadri in UP.
Reliance MF, the country's largest fund house, has witnessed an increase of about 13 per cent with the average AUM crossing the Rs 1,00,000 crore mark in May as compared to Rs 88,387.98 crore at the end of April. In May 2008, it had crossed the Rs 100,000 crore mark, but in terms of total assets under management. This time, the level has been crossed in the average monthly AUM, which is taken into consideration in the data released by the Association of Mutual Funds of India.
Anil Ambani Group firm Reliance Power's IPO on Thursday generated a record demand, with bids pouring in for shares worth Rs 2,34,000 crore ($ 60 billion) an amount that is over three times the money ploughed in by FIIs and mutual funds in the stock market in 2007.
Resuming arguments over its dispute with Anil Ambani Group firm Reliance Natural Resources Ltd, senior counsel Harish Salve said it was RNRL which had in 2007 argued that marketing freedom cannot be allowed to the Mukesh Ambani-run firm and asked the government to frame Gas Utilisation Policy.
Shares of Reliance Industries plunged on Friday after a court ruling that the Mukesh Ambani-led company can not sell its KG basin gas to any company except NTPC and Anil Ambani group's Reliance Natural Resources.
FIIs have turned out to be the biggest buyers of Reliance Power's IPO. Reliance Power's FII are holding over ten-times of mutual funds.
Public insurer New India Assurance has accused the troubled NACIL of flouting the tender norms for about Rs 45,000-crore (Rs 450 billion) insurance cover for Air India's fleet to favour a consortium led by an Anil Ambani group firm, which refuted the allegation.
Anil Ambani Group firm Reliance Money on Friday announced its foray into Europe by setting up operations in Ireland and the UK and is looking to tap over two million non-resident Indian population in the region.
The court, which quashed the emergency powers invoked by the state for land acquisition, also asked the state to invite objections from land owners.
R-ADAG has taken on board Ashutosh, the business head of Sahara One and Entertainment's Hindi movie channel Filmy, as the COO for its upcoming movie channels.
Anil Ambani will take over as the chairman of Pipavav Defence
'Rafale is an open and shut case and there is only one man who has done corruption'
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 tariff war has now spread to all possible sections, with Anil Ambani group company Reliance Infocom on Wednesday announcing a 36 per cent reduction in ISD rates to all Gulf countries at Rs 6.99 a minute.
Reliance Power Ltd's public issue has so far generated demand for shares worth more than $179.5 billion (Rs 706,000 crore) as bids continued to pour in on the last day of the Anil Ambani Group firm's IPO.
Blackstone, KKR, and Bain Capital, among others, are in the race for its general insurance arm, and Bandhan Bank, Bain, and Dabur Investments have shown interest for RCap's 51 per cent stake in the life insurance business.
Top Bollywood stars made appearances in top industrialist's son's wedding last weekend.
Anil Ambani Group company Reliance Communications introduced on Thursday a new tariff plan for its post paid subscribers, who can now make STD calls at Rs 1.20 per minute.
The Central Bureau of Investigation on Friday informed the Delhi high court that its appeal against the acquittal of former telecom minister A Raja and 16 others in the 2G spectrum allocation case was 'ripe for hearing'.
It has also got the Reserve Bank's nod to set up a non-banking finance company subsidiary for its consumer loan business, which would primarily focus on vehicle loans and lending to SMEs. Both HFC and consumer finance subsidiaries would be in place in the next two months, and the employees currently working with the related businesses at Reliance Consumer Finance Ltd would be relocated to the new entities.
This would be done either through strategic sale or initial public offering, ADAG chairman Anil Ambani told shareholders at the company's annual general meeting in Mumbai.
Hit by a massive sell-off in stocks of various group companies, Reliance Anil Dhirubhai Ambani Group today said it is a victim of a bear cartel that has caused a market value loss of over Rs 3 lakh crore (Rs 3 trillion) across the infrastructure sector in the past two weeks.
The supplies to Anil Ambani Group's power plants including the one proposed at Dadri near Delhi, will be subject to government approving the allocation of the fuel, Mukesh Ambani said.
Securities Appellate Tribunal on Monday adjourned its hearing till January 21, on complaints against Anil Ambani group's $3-billion Reliance Power IPO, scheduled to hit the market on Tuesday. On January 4, SAT had refused to stay the Initial Public Offer, while saying that it would consider the issue on January 14.
Oil regulator V K Sibal has alleged that Anil Ambani Group had orchestrated a vilification campaign against him to settle personal scores with corporate rival Mukesh Ambani-led Reliance Industries.
The total income for the second quarter stood at Rs 56.96 crore, while its cash and liquid balance stood at Rs 10,756 crore, the filing said. However, the firm reported a loss from operations (before other income) of Rs 19.59 crore for the second quarter, while its operational loss was Rs 36.96 crore for the six months ending September 30. For the half year ended September 30, the firm had a net profit of Rs 98.44 crore, Reliance Power said in a filing to the BSE.
The Anmol effect: R-Cap shares jump 40% since junior Ambani joined the board
The company, which is bullish on its growth prospects, plans to double the gold coin sales from the current 1,000 kg by the end of the current financial year.
