RIL opens India’s largest convention centre at Jio World Centre with 5G network
NEW DELHI: Oil-to-telecom conglomerate Reliance Industries on Friday announced the opening of India’s largest convention centre at Jio World Centre in Mumbai. The convention centre has three exhibition halls spanning over an area of more than 1.61 lakh square feet and two convention halls of 1.07 lakh square feet. The convention centre has “hybrid and […]
Reliance Industries to invest Rs 6 lakh crore in green energy, other projects in Gujarat
NEW DELHI: Billionaire Mukesh Ambani-led Reliance Industries will invest Rs 5.95 lakh crore in green energy and other projects in Gujarat over the next 10-15 years as it looks to accelerate the clean energy business by building giga-factories. The oil-to-telecom conglomerate will invest Rs 5 lakh crore in the state to set up 100 gigawatts […]
JioPhone Next, co-developed with Google, to be most affordable smartphone globally: Mukesh Ambani
NEW DELHI: Reliance Industries Chairman Mukesh Ambani on Thursday said Jio and Google have jointly developed Made for India ‘JioPhone Next’, a power-packed and affordable smartphone that will be available from September 10. Ambani promised that JioPhone Next will be the most-affordable smartphone, not just in India but globally, although the pricing was not disclosed. […]
Reliance Retail to grow 3x in next 3-5 years, create a million jobs: Mukesh Ambani
NEW DELHI: Reliance Industries’ retailing arm Reliance Retail would grow at least three times in the next 3 to 5 years, Chairman and Managing Director Mukesh Ambani said on Thursday. It continues to be among the fastest-growing retailers globally and the company aims to be among the top ten retailers of the world, Ambani said […]
Seven of top-10 most valued firms add over Rs 1.15 lakh crore to m-cap; RIL lead gainer
NEW DELHI: Seven of the top-10 most valued companies together added Rs 1,15,898.82 crore in market valuation last week, with Reliance Industries grabbing the top spot. Last week, the 30-share BSE Sensex jumped 677.17 points or 1.31 per cent. Reliance Industries, HDFC Bank, Hindustan Unilever, HDFC, State Bank of India, Bajaj Finance and Kotak Mahindra […]
Eight of top-10 most valued firms add over Rs 1.39 lakh crore in m-cap; Reliance Industries tops chart
NEW DELHI: Eight of the top-10 most valued companies together added Rs 1,39,566.52 crore in market valuation last week, with Reliance Industries, TCS and Infosys emerging as top performers. On a weekly basis, the BSE benchmark Sensex gained 882.40 points or 1.74 per cent. Only Hindustan Unilever and Bajaj Finance saw losses in their market […]
Nine of top-10 firms gain Rs 2.41 trillion in market capitalization; HDFC Bank, RIL lead chart
NEW DELHI: Nine of the 10 most valued companies together added Rs 2,41,177.27 crore in market valuation last week, in line with a strong broader market, with HDFC Bank and Reliance Industries topping the list. During the last trading week, the 30-share BSE benchmark Sensex jumped 1,807.93 points or 3.70 per cent. From the top-10 […]
RIL’s March quarter net profit more than doubles
NEW DELHI: Billionaire Mukesh Ambani’s Reliance Industries Ltd on Friday reported more than doubling of its March quarter net profit as consumer businesses of retail and telecom as well as petrochemicals saw sequential recovery on improved spreads offsetting continued weakness in refining business. Consolidated net profit of Rs 13,227 crore in January-March compared with Rs […]
Reliance, Saudi Aramco discuss cash and share stake deal: Report
NEW DELHI: Billionaire Mukesh Ambani’s Reliance Industries is reported to have held talks with Saudi Aramco on a cash and share deal for sale of a 20 per cent stake in its oil refining and petrochemical arm. Ambani had in August 2019 announced talks for the sale of a 20 per cent stake in the […]
Supreme Court halts Future Group’s $3.4 billion deal on Amazon plea
By Upmanyu Trivedi NEW DELHI: India’s Supreme Court has stopped regulatory approval for the Future Group’s $3.4 billion asset sale to Reliance Industries Ltd., effectively halting the deal and marking another victory for Amazon.com Inc., which wants to scuttle the transaction in its bid to dominate the country’s retail sector. Agreeing with the American e-commerce […]
Reliance petroleum: SEBI imposes a fine of Rs 15 crore on Mukesh Ambani
NEW DELHI: Commodity market regulator Securities and Exchange Board of India (SEBI) on Friday imposed penalties on Reliance Industries Ltd, its Chairman and Managing Director Mukesh Ambani as well as two other entities for allegedly indulging in manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007. Fines of Rs […]
Mukesh Ambani sold dreams to tech giants for $27 billion, Now he has to deliver
By Anto Antony P R Sanjai and Saritha Rai NEW DELHI: Mukesh Ambani spent much of 2020 convincing Facebook Inc., Google and a clutch of Wall Street heavyweights to buy into his vision for one of the world’s most ambitious corporate transformations. Now flush with $27 billion in fresh capital, Asia’s richest man is under […]
Reliance Retail completes fund raise of Rs 47,265 crore for 10.09% stake
NEW DELHI :Reliance Industries Limited (RIL) and Reliance Retail Ventures Limited (RRVL) have completed the current phase of partner induction and fund raise exercise for RRVL. Accordingly, the RRVL has received cumulative subscription amount of Rs 47,265 crore from its financial partners and allotted 69,27,81,234 equity shares to them. The largest fund raise exercise in […]
Several EoIs received for BPCL sale, giants RIL, Aramco, BP not in race
NEW DELHI: The much-anticipated privatisation process of the Bharat Petroleum Corporation Ltd (BPCL) completed its first phase on Monday with several suitors submitting Expressions of Interest (EoIs). However, sources said that major energy giants including Reliance Industries, Saudi Aramco and UK’s BP have not placed bids for the state-run oil major. The transaction will move […]
Reliance Industries to invest up to $50 million in Breakthrough Energy
NEW DELHI:Reliance Industries Limited (RIL) announced on Thursday that it has entered into a definitive agreement for making capital contribution of up to $50 million in Breakthrough Energy Ventures II, L.P. (BEV), a limited partnership, newly incorporated under the Delaware State Laws, the US. The capital contribution commitment of $50 million constitutes 5.75 per cent […]
Reliance Industries to appeal in Supreme Court against SAT ruling
NEW DELHI: Reliance Industries Limited (RIL) on Thursday said it will challenge in Supreme Court the dismissal of its plea by the Securities Appellate Tribunal (SAT) against a Sebi ruling barring the firm and 12 of its promoter group entities from dealing in equity derivatives for alleged unfair trade practices. SAT, by a 2:1 majority […]