Ajit Mishra, vice president, Research, Religare Broking, answers your queries
The company is targeting 100 million subscribers in shortest possible time, RIL Chairman Mukesh Ambani said
Mukehs Ambani, KLakshmi Mittal, Azim Premji features in top ten rich Indians list.
Reliance Industries Ltd (RIL) said on Wednesday that the government's move to disallow it recovery of certain costs relating to the D6 gas block in the Krishna-Godavari basin (KG-D6) did not amount to a penalty and was also not in line with the contract the two had signed.
Reliance Petroinvestments, a subsidiary of Mukesh Ambani-led Reliance Industries Ltd (RIL), has approached the Securities Appellate Tribunal against the capital markets regulator, which imposed a Rs 11-crore (Rs 110 million) penalty on the company in the Indian Petrochemicals Corp Ltd (IPCL) insider trading case.
The licensee will have to ensure that at least half the areas under rural telecom exchanges gets the required street level coverage.
Inputs by the Petroleum Ministry were found among stolen documents.
Reliance reported record pre-tax profit from its retail and telecom businesses. The two now account for nearly 32 per cent of EBITDA, up from close to 25 per cent previously.
As many as 24 special economic zone (SEZ) developers including Dr Reddy's Lab and Tata Consultancy Services have sought more time from the government to execute their projects.
Over a third of Ambani's speech was focussed on RIL's plans.
Revenue jumped 54.5 per cent to Rs 156,291 crore.
Stake valued at $4 billion, against initial expectation of $4.5 billion
Reliance Retail would be exposed to implementation and execution risks in its expansion plans.
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RIL had objected to the state government's decision to receive bids in sealed envelopes instead of an open auction.
Sources aware of the development said as part of the project, the airline had signed an agreement with Reliance Industries Ltd, which would extend quality control services at its coastal terminals for ATF imported by the airline.
Recounts challenges faced in setting up various channels, hopes new management will always put journalism first.
Modelled loosely around the National Highway System of the US, he in 2001 launched the Golden Quadrilateral and the North-South & East-West Corridor projects to build 4/6 lane highways between four top metropolitan cities of Delhi, Mumbai, Chennai and Kolkata as well as from Srinagar to Kanyakumari and Porbandar to Silchar.
Telecom operators, including Reliance Jio, have been demanding "same service same rules" regime which means that mobile applications providing calls and messaging services should also be made to comply with set of rules that are mandatory for mobile service providers.
Officials from India's biggest private refiner recently visited Iran to chalk out the details for resumption of trade ties with Tehran.
Centre and state governments are steadily increasing excise duties and value-added tax
The company had a total debt of Rs 16,010 crore (Rs 160.1 billion).
Its market capitalisation tops those of the 3 largest Indian firms combined
A charge-sheet against Chandra and 12 others was filed.
The stage for negotiations to settle the Krishna-Godavari basin dispute is long over, says a government official
In the last 3 months, rupee has depreciated 16% against dollar.
GenNext Innovation Hub is also pursuing a new global partnership program to collaborate with organizations in US, Europe and Asia.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
TCS has done better than Infosys in sequential and yearly revenue growth so far this financial year.
However, RIL has exceeded the mandatory 2% prescribed limit, spending the maximum amount of Rs 761 crore
Reliance Industries Ltd on Thursday told the Delhi High Court that the Delhi government's decision to probe the Centre's policy on gas pricing was a "peculiar" and "absurd" situation.
The big boys of India's traditional retail have finally come together to fight the onslaught of their online counterparts.
Online grocers like Bigbasket and localbanya witness surge in sales.
Training his guns on BJP's prime ministerial candidate again over the Reliance gas issue, the Aam Aadmi Party on Friday asked Narendra Modi whether he will bring down the gas price if he comes to power.
Telecommunication companies buying airwaves in an Indian auction next month will pay 5 per cent of their revenue as an annual fee.
The bank guarantee, which will be equivalent to the incremental revenue that RIL will get from the new gas price, will be encashed if it is proved that the company hoarded gas or deliberately suppressed production at the main D1&D3 fields in the eastern offshore KG-D6 block since 2010-11.
Revenue was also boosted by robust growth in retail business which recorded a 73.6 per cent increase to Rs 11,571 crore
The Supreme Court on Wednesday agreed to hear a plea seeking stay on arbitration proceedings on a dispute between Mukesh Ambani-led Reliance Industries Ltd (RIL) and the government over recovery of cost for developing the country's key natural gas field in the Krishna-Godavari (KG) basin.
RIL said it had launched 'an internal probe' into its staff's detention.
Reliance Industries Ltd, along with its partner British Petroleum, plans to invest about Rs 800 crore (Rs 8 billion) to carry out exploratory drilling in an offshore block in the Bay of Bengal, off the Tamil Nadu coast.
The Ambani brothers, Mukesh and Anil, came together on Thursday to raise the issue of stalled projects plaguing India Inc and implored the Maharashtra government and the Centre to make Mumbai, India's financial capital, an easier place for business and investments. "Several projects are stuck for many years in Mumbai and we would like to know how the government intends to improve the financing and execution of projects, including those relating to infrastructure and education which have been in limbo for long and are affecting the growth of the city," Reliance Industries Ltd (RIL) Chairman Mukesh Ambani told Finance Minister Arun Jaitley. Seated on the same table was his brother, apart from Tata Group Chairman Cyrus Mistry and State Bank of India (SBI) Chairman Arundhati Bhattacharya. Jaitley was addressing the Mumbai Next MMR Transformation conclave, organised by the Maharashtra government and Mumbai First here, through video conference. In his reply, Jaitley said the government was exploring several options of infrastructure financing in India and that a number of international bodies were ready to fund infrastructure development projects. He added the government was keenly considering these funding sources. While praising Maharashtra Chief Minister Devendra Fadnavis for honesty, Jaitley also had a word of advice. Apart from being honest, the government had to be decisive, he said. On his part, Reliance Group Chairman Anil Ambani told the chief minister about his experience of decisions being delayed due to an indecisive bureaucracy and the need to protect officials who wanted to take quick decisions. "Through the past many years, we have faced a number of obstacles in decision-making," he said, adding he was speaking as someone who had lived and invested in Mumbai. Fadnavis responded by saying he would bring about a transparent process to ring-fence officials. Both the Ambani brothers have announced a number of infrastructure projects in and around Mumbai, including a world-class convention centre in Bandra Kurla Complex by RIL, but very few have actually fructified. RIL's special economic zone project failed to take off due to land acquisition problems in Raigarh, while a second SEZ near Mumbai is stuck due to lack of clarity in SEZ norms. The first phase of the Mumbai Metro, set up by Anil Ambani's Reliance Infrastructure, was marred by cost overruns and run-ins with the government over fares. Subsequently, the company withdrew from the second and larger phase, citing inordinate delay. Anil Ambani also withdrew from Mumbai's sea link project on the same grounds. The brothers had also bid for a trans-harbour sea link between Navi Mumbai and Mumbai under the Congress-Nationalist Congress Party government, but their bid was rejected. Reliance Infrastructure is also the power supplier to more than half of this city. Participating in the conclave, some of India Inc's leading bankers said making Mumbai a financial hub would take at least a decade. SBI's Bhattacharya said the Indian currency should be made fully convertible and facilities should be created for it. "However, for this, the economy needs to look up and that will happen only in the next 7-10 years, not immediately," she added. Sunil Kaushal, Chief Executive Officer of Standard Chartered, India, pitched for strong infrastructure to support development. "We will take a long time to develop into a global financial centre. We need to solve transport bottlenecks in Mumbai and have lifestyle facilities for people working in and around these areas," he said.
