Softbank eyes investment of $2-3 billion in Reliance Jio as Mukesh Ambani deleverages biz
NEW DELHI: Japan’s Softbank is reportedly looking to make a $2-3 billion investment in India’s fastest-growing telecom firm Reliance Jio as billionaire Mukesh Ambani looks to deleverage business by selling stakes. This comes on the back of reports of Saudi giant Aramco in discussions to buy a 25 per cent stake in Reliance Industries’ refining […]
RIL Q4 profit up 9.8% y-o-y at Rs 10,362 crore, Jio FY19 net at Rs 2,964 crore
NEW DELHI: Reliance Industries on Thursday reported a record net profit of Rs 10,362 crore in the March quarter as robust revenue from retail and telecom businesses offset weaknesses in the core oil refining and petrochemical segment. Its net profit in January-March, at Rs 10,362 crore, or Rs 17.5 a share, was 9.8 per cent […]
Dutch prosecutors arrest 3 for allegedly laundering $1.2 billion for Mukesh Ambani unit
NEW DELHI: Dutch investigators have arrested three former employees of a local firm suspected of laundering USD 1.2 billion through over-invoicing services and works rendered for a gas pipeline built by a unit controlled by billionaire Mukesh Ambani, a charge vehemently denied by Reliance Industries Limited (RIL). East West Pipeline Ltd (EWPL), which was previously […]
Reliance Industries m-cap falls below Rs 8 lakh crore: 9 of top-10 firms lose Rs 98,863 crore m-cap in 1 week
NEW DELHI: Nine of the top-10 most-valued companies suffered a combined erosion of Rs 98,862.63 crore in market valuation last week, with Reliance Industries Ltd (RIL) and SBI taking the steepest hit. ITC was the only gainer from the top-10 list. RIL, Tata Consultancy Services (TCS), HDFC Bank, HUL, Infosys, HDFC, Kotak Mahindra Bank, State […]
RIL to invest Rs 3 lakh crore in Gujarat in next 10 years : Mukesh Ambani
NEW DELHI: India’s richest person Mukesh Ambani today committed to invest Rs 3 lakh crore in various projects in the next 10 years in Gujarat, ranging from energy and petrochemical to new technology and digital business. Reliance Industries Limited (RIL) operates the world’s largest oil refining complex at Jamnagar in Gujarat as well as petrochemical […]
Isha Ambani-Anand Piramal wedding to cost $100 million
NEW DELHI: India is preparing for what could be one of the world’s most expensive weddings ever, a spectacle that could even put the fictional nuptials in “ Crazy Rich Asians” to shame. On Dec. 12, Asia’s richest man — oil-and-telecom tycoon Mukesh Ambani — is scheduled to give away his daughter Isha to billionaire […]
Mukesh Ambani sets up Estonian JV for e-governance; takes up e-residency
TALLINN/MUMBAI: Industrialist Mukesh Ambani is keen on the e-governance space and has set up a subsidiary company in Estonia to get a grip on the solutions, government officials of the Northwestern European nation have said. Ambani has formed a subsidiary with the Estonian government’s former chief information officer Taavi Kotka. The joint venture will be […]
What Ambani said about Reliance Jio at India Mobile Congress: Full speech
Full text of Reliance Industries Ltd (RIL) chairman Mukesh Ambani’s speech at India Mobile Congress: Honourable Minister Shri Ravi Shankar Prasadji, Shri Manoj Sinhaji, Ladies and Gentlemen, A very warm good morning. Dear Friends, Today, we are living in an India of unprecedented hope and promise… …An India that is poised to embrace an immensely […]
Mukesh Ambani, Sunil Mittal to share dais at India Mobile Congress
NEW DELHI: Heads of the country’s top telecom firms will be seen sharing dais during the India Mobile Congress from October 25-27, where these telcos are expected to discuss critical issues facing the industry. According to the event schedule, Reliance Jio Chairman Mukesh Ambani and Bharti Airtel Chairman Sunil Mittal are going to be part […]
Reliance Industries posts record Rs 9,516 crore profit in Q2
NEW DELHI: Mukesh Ambani- led Reliance Industries Limited (RIL) on Wednesday reported its highest ever quarterly net profit of Rs 9,516 crore, a 17.4 per cent rise year-on-year, for the July-September period. The company reported a net profit of Rs 8,109 crore in the corresponding quarter of last fiscal. Its net profit stood at Rs […]
Reliance Jio reports Q2 net profit of Rs 681 crore; subscriber base crosses 250 million
NEW DELHI: Mukesh Ambani- owned Reliance Jio reported a standalone net profit of Rs.681 crore for the second quarter ended 30 September 2018.The company had posted a net loss of Rs 271 crore in the year-ago period. On the other hand, Jio reported an average revenue per user (ARPU) declined to Rs. 131.7 from Rs. 134.5. […]