Reliance Industries, the flagship company of the Mukesh Ambani led Reliance Group, said it has set up a subsidiary for the purpose of carrying out operations in the real estate space. The group, which has hitherto focused on areas like petrochemicals, energy, retail and technology, does not have a sizable real estate-focused business as of […]
Even as Amazon and Flipkart find their business models crippled by new changes in the law, India’s richest man Mukesh Ambani announced that his upcoming e-commerce venture will partner with 3 cr sellers, making it the biggest such platform in the country by number of sellers. “Jio and Reliance Retail will shortly launch a unique […]
Jio GigaFiber, the wired service from Reliance Jio, moved closer to its mega roll-out plan after it received a crucial approval from the Competition Commission for the company’s purchase of Den Networks and Hathway Cable & Datacom. The approval by the Competition Commission was seen as the main, if not the only, crucial regulatory approval […]
Mukesh Ambani, chairman of Reliance Industries group, today said that his company is working on creating a pan-India e-commerce platform that will help small, offline shops compete with players like Amazon and Flipkart. The platform will work by making the inventory of small shops available for purchase online using a sophisticated web and app interface […]
GTPL Hathway, the Gujarat-based subsidiary of Hathway Datacom, said it, along with Polycab Wires, has won a Rs 1,245.77 cr order to connect 3,767 gram panchayats as part of the BharatNet project of the central government. The companies have to lay 17,000 kms of fiber as part of the contract. The order is for part of Saurashtra region […]
Reliance Industries, one of India’s largest petroleum producers, said its D26 oil field in the KG-D6 offshore block has ceased production, a decade after oil started flowing from the field. The D26 was one of the three prolific fields of the D6 block. A field, in oil and gas terminology, is a smaller area within […]
Three months after Tata Consultancy Services became the first Indian company to achieve a market capitalization of $100 bln (Rs 6.85 lakh cr), Reliance Industries is close to the $100 bln mark as well. At present, there are only around 100 companies in the world whose shares are worth $100 bln or more, including the […]
Reliance Industries, the parent of Reliance Retail, said it has acquired a 12.5% stake in a fashion company called Future101 Design Pvt Ltd at a cost of Rs 9.5 cr. The Gurgaon-based company designs and manufactures garments such as ladies kurtis and men’s shirts. “Future101, incorporated in July, 2013 is engaged in manufacturing, distribution and […]
India’s largest technology retail chain Reliance Digital said it signed an agreement to sell all Motorola products at its outlets. At present, Motorola is largely an online-focused brand. Motorola, which used to be a big brand in the country in the 1990s and 2000s, lost out to Korean players like Samsung and LG about 10-12 […]
Anil Ambani today praised his son Anmol Ambani for bringing about a “cultural change” in his business group, and said the 26-year-old has been added to the director boards of two more of his group companies. Anmol Ambani will join the director boards of Reliance Nippon Life Asset Management and Reliance Home Finance. It was […]
Reliance Industries said it was not aware of any inquiry into the funds received by entities connected with it or its promoters from Singapore-based Biometrix Marketing. It also said, as far as it was aware, that the Income Tax Appellate Tribunal “was satisfied with the source of funds”. The clarifications came after report by the […]
State-owned oil producer ONGC said it may not be able to keep up with the development schedule of its offshore oil block next to Reliance Industries’ KG D6, but said it was too early to ascertain the exact quantum of delay. The KG-DWN- 98/2 offshore block was supposed to see an investment of $5.1 bln […]
Reliance Industries controlled media group TV18 Broadcast said it has acquired a controlling stake in Viacom 18, which operates channels such as Colors and Comedy Central in India. The joint venture was formed as a 50:50 partnership in 2007. However, because neither party had a controlling stake, TV18 Broadcast was prevented from showing the revenue […]
Reliance Industries’ controlled TV18 reported better results than in recent quarters, and said advertising revenue is showing signs of recovery. The company reported a 8% growth in the top line for Oct-Dec quarter to Rs 271 cr, while profit before tax remained flat at Rs 16 cr. Profit from joint ventures jumped to Rs 19 […]
L&T said its Hydrocarbon Engineering unit secured a major construction contract for Crude Distillation and Vacuum Distillation Unit (CDU & VDU) from Hindustan Petroleum Corporation Limited, Visakhapatnam Refinery. It also won an extension to an ongoing contract for Reliance Industries Jamnagar. The combined value of the two contracts is about ₹2,100 Crores, the construction company […]
Reliance Jio, the firm led by Mukesh Ambani, will walk away with most of the telecom assets of Reliance Communications, led by Mukesh’s brother Anil. Rcom said it has “signed definitive binding agreements with Reliance Jio Infocomm Limited for sale of Wireless Spectrum, Tower, Fiber and Media Convergence Node (MCN) assets.” The Anil Ambani company […]
Mukesh Ambani, India’s richest man, said telecom was the first of his big bet, and he will now use his resources to solve problems in three other difficult areas — agriculture, education and healthcare. Speaking at the HT Leadership Summit, Ambani said his primary motivation was not to make money. “Money has never meant much […]
Reliance Industries said it would raise Rs 5,000 cr from the debt market by issuing debentures on Wednesday, November 8. The debentures issued will not be convertible to equity shares and will be sold privately (private placement) without a public offering, RIL added. Unlike shares, debentures generate a fixed return in the form of interest. […]
Reliance Jio has reported revenue of Rs 7,213 cr, including GST, and an operating profit of Rs 261 cr for the second quarter of the financial year. However, after deducting costs related to the wear and tear of its machines, Reliance Jio reported a pretax loss of 414 cr. This means that on the bottom […]
Reliance Jio has reported revenue of Rs 7,213 cr and an operating profit of Rs 261 cr for the second quarter of the financial year. Per capita data consumption was 9.62 GB per user per month. Average voice consumption was 626 minutes per month during the period, it added. This is the first quarter of […]
