The Anil Ambani Group-promoted Reliance General Insurance is looking to buy a majority stake in its rival Royal Sundaram, while talks are in advanced stages to bring in Swiss Re as foreign partner in its life insurance venture.
Indian billionaire industrialist Anil Ambani has joined up with the family of Amitabh Bachchan, the Bollywood actor, to set up a joint venture to make films.
The new executive director of Reliance Capital has big shoes to fill in every way.
RTL is part of Europe's largest media firm, Bertelsmann AG, and has a market cap of $15.5 billion (Rs 69,900 crore).
Relaince Energy received the shareholders approval for raising funds through issue of securities.
Anil Ambani group's Reliance Money on Tuesday sparked a price war in the highly competitive brokerage space by offering a free trading account to its demat account holders, with an aim to tap up to 30 crore (300 million) potential clients. Reliance Money also announced a partnership with Corporation Bank to offer broking services to 9.5 million account holders of the public sector lender.
Reliance Infratel, a subsidiary of the group's telecom arm RCom, is looking to dilute 10-15 per cent stake in a private placement of shares with the PE firms, investment banking sources said. The company had last year scrapped plans to raise about Rs 6,000 crore (Rs 60 billion) through sale of about 10 per cent shares in an IPO due to adverse market conditions.
Maytas Infrastructure, majority-owned by the family of scam-hit IT firm Satyam's disgraced founder B Ramalinga Raju, is believed to have proposed bringing in Reliance Infra as a partner in the prestigious Rs 12,200-crore (Rs 122 billion) metro rail project in Hyderabad.
Banking on the recent cable landing station regulations, Reliance Communications is planning to launch global video transmission services on its new international long distance network.
Indian mobile operators led by Reliance Communications, BSNL and MTNL on Friday announced a bonanza for their users who are frequent travellers by waiving or nearly eliminating roaming charges.
Anil Dhirubhai Ambani Group company Reliance Life Insurance has been awarded a high rating in customer satisfaction for the third year in a row, according to a survey.
The RBI said the board has been superseded "in view of the defaults by RCL in meeting the various payment obligations to its creditors and serious governance concerns which the Board has not been able to address effectively". It has also appointed Nageswar Rao Y (ex-executive director, Bank of Maharashtra) as the administrator of the NBFC.
Reliance Capital Asset Management, controlled by Anil Ambani, has sold a 5 per cent stake to Eton Park Capital Management in a deal that for the first time puts a value on India's largest mutual fund.
CDMA technology developer Qualcomm on Tuesday said it was not negotiating with Indian telecom players, including Anil Ambani group company Reliance Communications, on lowering the royalty paid by them.
Mukesh Ambani-led Reliance Industries on Friday said it may sell gas from its KG-D6 fields to RNRL at $4.20 per mmBtu if the government allocates fuel to the Anil Ambani Group firm.
P Sampath, the current CFO, moves to a new role as the President of Business Optimisation and Improvement for Essar Energy plc, the company said in a press statement.
Tribunal's direction came during the hearing of a petition filed by Anil Ambani group firm Reliance Fuel Resource Ltd, seeking license for laying pipelines from KG Basin to its upcoming power plant at Dadri, Utter Pradesh. The board had directed Reliance Fuel to apply afresh for a license to build a pipeline from Kakinada to Dadri as there were no guidelines at that time. It asked the company to apply in compliance with new regulations.
Anil Ambani group's Reliance Power appears to have failed to hold back a large number of foreign and domestic shareholders, even by offering bonus shares, yet it remains the most widely held entity in India.Among the institutional investors, a marked decline has been in the number of FIIs, while that of domestic institutions has also fell to 103, from 345 previously.
The strategic alliance between the two companies would address the rapidly growing demand of Hollywood studios for converting both new films shot in 2D as well as older film released in cinemas and on home platforms into the 3D format, Reliance MediaWorks said in a filing to the Bombay Stock Exchange.
The two sides had approached Supreme Court challenging a decision by the Bombay high court on June 15, which said RIL should provide 28 million cubic metres of gas per day to RNRL at $2.34 per mmBtu and both the parties should sign a necessary agreement for the same within a month.
The Reliance Anil Dhirubhai Ambani Group has awarded a 5-year outsourcing contract to a Delhi-based call centre, Caretel Infotech, a part of Dalmiya group, for about Rs 300 crore.
Reliance gold scheme does not require demat account.
These trusts are being registered under a new framework.
Readying itself for a bank licence, Anil Ambani-led group's Reliance Capital on Wednesday said Japan's Sumitomo Mitsui Bank and Nippon Life would become its strategic partners in the proposed banking venture, with each having 4-5 per cent stake.
A Bench headed by Justice S H Kapadia, while setting aside the high court order, directed Reliance Energy to submit its financial bid for the project within three months.
Mukesh Ambani-led RIL and Anil Ambani's RNRL are locked in a dispute over the terms of the gas supply master agreement, whereby RIL is to supply gas for RNRL's power projects. Earlier, the division bench of Justices J N Patel and K K Tated had said it would like to finish the hearing before Diwali, so that the judgment could be written during the vacation. But now, with the government's entry into the litigation, the hearing may not get over before the Diwali vacation.
The government will sign contracts on Tuesday for exploitation of gas trapped below coal seams in nine areas with three consortia, including one led by Anil Ambani Group companies.\n
The company has won the award under the 'Operator Leadership' category for having demonstrated leadership in the wireless community through the expansion of 3G CDMA system deployments and the unique implementation of 3G CDMA technologies in a specific market, a release issued by the company stated.
Reliance Money, promoted by Anil Dhirubhai Ambani Group firm Reliance Capital, would offer the brokerage services across 700 cities, including Delhi and Mumbai, through 3,000 outlets.
The Telecom Dispute Settlement Appellate Tribunal (TDSAT) upholds government's decision on dual technology for RCom.
Maharashtra chief minister Vilas Rao Deshmukh announced on Thursday sanctiong of Rs 2,356 crore for the first corridor of Varsova-Andheri-Ghatkopar rail project jointly to Anil Ambani group company Reliance Energy and MMRDA.
Anil Ambani group flagship Reliance Communications on Friday entered the elite club of companies with Rs 1 trillion market value on the back of robust quarterly results, joining the likes of ONGC and Reliance.
Intensifying 3G tariff war, Reliance Communications (RCom) on Friday announced up to 61 per cent cut in rates, following similar reduction by Airtel and Idea.
In its latest issue, the weekly magazine takes a close look at the lifestyle of the two Ambani brothers as part of a survey of the leading business families of Asia.
