Thursday, December 19

Tag: Mukesh Ambani

Reliance Will Invest Additional Rs 20,000 Cr In West Bengal, Says RIL Chairman Mukesh Ambani
21Nov By adminNo Comments
Business

Reliance Will Invest Additional Rs 20,000 Cr In West Bengal, Says RIL Chairman Mukesh Ambani

Curated By: Business DeskLast Updated: November 21, 2023, 17:03 ISTMukesh Ambani, chairman and managing director (MD) of Reliance Industries Limited. (File photo)Mukesh Ambani added that Reliance Jio achieved coverage of 98.8% in the state and Kolkata is 100% covered.Reliance Industries Limited Chairman & MD Mukesh Ambani on Tuesday said that RIL has invested close to Rs 45,000 Cr in West Bengal till now. He announced more investments at the 7th edition of Bengal Global Business Summit 2023.“Today I am happy to announce that RIL will invest an additional Rs 20,000 Cr in West Bengal over a period of 3 years,” he said while speaking at BGBS in Kolkata.Ambani added that Reliance Jio achieved coverage of 98.8% in the state and  Kolkata is 100% covered.He also highlighted that Reliance Re...
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Mukesh Ambani’s Reliance Industries considers record $1.8 billion bond sale
2Nov By adminNo Comments
Business

Mukesh Ambani’s Reliance Industries considers record $1.8 billion bond sale

Indian tycoon Mukesh Ambani’s Reliance Industries Ltd is considering raising as much as 150 billion rupees ($1.8 billion) via the sale of local-currency bonds, according to people familiar with the matter who asked not to be identified because the matter is private.The transaction, if it concludes, would be the biggest rupee sale ever for Reliance, Bloomberg-compiled data show.It would also be the conglomerate’s first domestic bond since 2020, according to the statistics.A representative for the firm didn’t have any immediate comment when contacted late on Wednesday. Reliance Industries is India’s largest company by market value, and its business interests range from petrochemicals refining to wireless communication services and consumer goods. It is expanding rapidly into 5G and venturin...
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Nita Ambani at Jio World Plaza launch
1Nov By adminNo Comments
Business

Nita Ambani at Jio World Plaza launch

Founder and chairperson of Reliance Foundation Nita Ambani on Tuesday arrived at the grand launch of Jio World Plaza in Mumbai. Expressing her excitement at the event, Nita Ambani said, "Jio World Plaza is not only going to be the best mall in India but I hope it will become the best mall in the world. Definitely, we are really looking forward to it...Today is an ode to all the Indian designers and our arts & artisans also." According to a press release by Reliance Jio, located strategically in the bustling Bandra-Kurla Complex (BKC) at the heart of Mumbai, Jio World Plaza opened its doors to the public on November 1. The Plaza seamlessly integrates with the Nita Mukesh Ambani Cultural Centre, the Jio World Convention Centre, and the Jio World Garden, makin...
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Jio won’t raise tariff as telcos plan price hike
29Oct By adminNo Comments
Business

Jio won’t raise tariff as telcos plan price hike

NEW DELHI: Signalling an aggressive competitive position in the telecom industry, Reliance Jio has said that it will not raise consumer tariffs, even on 5G. The company will continue with its position of "affordable accessibility" to target over 240 million Airtel, Vodafone Idea, and BSNL/MTNL subscribers, who still use 2G networks.Mathew Oommen, president of Jio, said that the company does not intend to raise tariffs dramatically, but will rather focus on customer acquisition as people migrate to internet-heavy, data plans."This is the vision of Reliance Industries chairmanMukesh Ambani, and Jio chairman Akash Ambani too." "As an industry, we owe this to get inclusiveness. More than 200 million-plus mobile consumers still do not have the right experience with 2G, and the onus is on the i...
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Mukesh Ambani receives death threat, email demands Rs 20 crore
28Oct By adminNo Comments
Business

Mukesh Ambani receives death threat, email demands Rs 20 crore

Reliance Industries Chairman Mukesh Ambani received death threats via email threatening to kill him if he failed to pay Rs 20 crores. According to the Mumbai police, it was written in the threatening email that "If you don't give us 20 crore rupees, we will kill you, we have the best shooters in India." After receiving the email, based on the complaint of Mukesh Ambani's security in-charge, Gamdevi Police of Mumbai registered a case against an unknown person under sections 387 and 506 (2) of IPC and started the investigation.First Published: Oct 28 2023 | 10:30 AM IST
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Reliance profit surges 30% to nearly Rs 20k crore in September quarter
27Oct By adminNo Comments
Business

Reliance profit surges 30% to nearly Rs 20k crore in September quarter

MUMBAI: Reliance Industries reported a 30% rise in its consolidated net profit of Rs 19,878 crore in the September quarter as compared to Rs 15,332 crore in the year-ago quarter. The energy-to-retail major's results got a boost from a sharp uptick in oil & gas revenues and strong growth in retail and digital services. RIL's consolidated revenue in Q2 stood at nearly Rs 2.6 lakh crore, up 1.2% from Rs 2.5 lakh crore in the previous year.The numbers reported by India's most valued company on Friday were in line with expectations, market players said."Strong operational and financial contribution from all business segments has helped Reliance deliver another quarter of robust growth," Mukesh Ambani, chairman & MD, RIL said in a statement.At Rs 77,148 crore, Reliance Retail's gross re...
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Disney nears multibillion-dollar deal with Mukesh Ambani’s Reliance: Report
23Oct By adminNo Comments
Business

Disney nears multibillion-dollar deal with Mukesh Ambani’s Reliance: Report

Reliance Industries Ltd., controlled by Asia’s richest tycoon Mukesh Ambani, is nearing a cash and stock deal to buy Walt Disney Co.’s India operations, according to people familiar with the matter.The US entertainment giant may sell a controlling stake in the Disney Star business, which it values at around $10 billion, as opposed to piecemeal transactions weighed earlier, the people said, asking not to be named because the discussions are private. Reliance views the assets at between $7 billion to $8 billion, some of the people said.The acquisition could be announced as early as next month with some of Reliance’s media units merged into Disney Star, the people said, without providing further details.Under the proposal, Disney will likely continue to hold on to a minority stake in the Ind...
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Jio Financial Q2 profit doubles from previous quarter
16Oct By adminNo Comments
Business

Jio Financial Q2 profit doubles from previous quarter

BENGALURU:Jio Financial Services (JFS) on Monday said its second-quarter profit doubled from the previous quarter, in its first results report after being carved out from billionaire Mukesh Ambani's Reliance Industries and listed on stock exchanges.Consolidated profit after tax for the three months ended September 30 rose to 6.68 billion rupees ($80.27 million) from 3.32 billion rupees in the April-June quarter, JFS said in a regulatory filing.It did not give consolidated profit figures for the year-ago quarter.!(function(f, b, e, v, n, t, s) { function loadFBEvents(isFBCampaignActive) { if (!isFBCampaignActive) { return; } (function(f, b, e, v, n, t, s) { if (f.fbq) return; n = f.fbq = function() { n.callMethod ? n.callMethod(...arg...
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Mukesh Ambani reclaims top position on India’s 100 Richest list by Forbes ; Adani at second place
12Oct By adminNo Comments
Business

Mukesh Ambani reclaims top position on India’s 100 Richest list by Forbes ; Adani at second place

NEW DELHI: Mukesh Ambani has reclaimed the top position on the 2023 Forbes list of India's 100 Richest with a net worth of $92 billion.The fortune of infrastructure magnate Gautam Adani, who rose meteorically to overtake Ambani as India's richest person for the first time last year, has slipped to the second position.Adani's net worth, which includes that of his family, fell by a whopping $82 billion to $68 billion, after a report by US short-seller Hindenburg Research in January sent his group's shares tumbling."Shortly after spinning off and listing Jio Financial Services, which has an asset management joint venture with BlackRock, Ambani cemented his succession plan by appointing his three children to Reliance's board as non-executive directors in August," Forbes said.Meanwhile, the co...
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