Reliance Industries Ltd – The News Desk

Adani to invest Rs 2.3 lakh crore in renewable energy, manufacturing capacity

7Apr

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Business

Adani to invest Rs 2.3 lakh crore in renewable energy, manufacturing capacity

AHMEDABAD: Adani Group will invest about Rs 2.3 lakh crore through 2030 in India's most ambitious renewable energy expansion and solar and wind manufacturing capacity addition ever as it shrugs off a short-seller attack to pursue its trademark rapid growth plans. Adani Green Energy Ltd, India's largest renewable energy company, will invest about Rs 1.5 lakh crore in expanding capacity to generate electricity from solar energy and wind power at Khavda in Gujarat's Kutch to 30 gigawatts from 2 GW currently and another Rs 50,000 crore in 6-7 GW of similar projects elsewhere in the country, a top company official said. Adani New Industries Ltd (ANIL), a unit in the group's flagship Adani Enterprises Ltd, will invest close to Rs 30,000 crore in expanding solar cell and wind turbine manufacturi...

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

2Nov

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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...

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

23Oct

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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...

Reliance seeks shareholder nod to appoint Ambani as head for another 5 yrs

6Aug

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Reliance seeks shareholder nod to appoint Ambani as head for another 5 yrs

Reliance Industries Ltd, India's most valuable company, has sought shareholder's approval to give Mukesh Ambani another five-year term as chairman and managing director of the company till 2029 -- a period during which he has opted to draw nil salary. Ambani, 66, will cross the company law-mandated 70 years age for the chief executive of the company and requires a special resolution by the shareholders for him to be appointed beyond that age bar. In a special resolution, Reliance sought the nod of shareholders to appoint Ambani as the head of the company till April 2029. Ambani has been on the board of Reliance since 1977 and was elevated as chairman of the company after the death of his father and group patriarch Dhiburhai Ambani in July 2002. In the special...

Banks, consumer companies to drive first-quarter earnings amid IT uncertainties in India

10Jul

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Business

Banks, consumer companies to drive first-quarter earnings amid IT uncertainties in India

NEW DELHI: Banks and consumer companies are expected to drive first-quarter earnings in India boosted by accelerating economic activity, easing input costs and decade-low bad loans at lenders, while the outlook for the nation’s software exporters is clouded by global headwinds. India’s banks have largely remained insulated from a global crisis in the industry with their heavy reliance on local markets. Meanwhile, the nation’s consumer and capital goods companies are expected to benefit from commodity prices that have come off peaks seen after Russia’s invasion of Ukraine. “Across industries, we’re seeing costs coming off sharply, so that will reflect in earnings,” said Varun Saboo, Mumbai-based head of equities at Anand Rathi Share and Stock Brokers Ltd. Saboo estimates earnings growth in...