Page 3 - Mukesh Ambani Group

RIL gets S&P, Fitch thumbs-up as strong earnings keep leverage in check

Reliance Industries Ltd has won a vote of confidence from global rating agencies S&P and Fitch after its robust earnings in the fiscal year ended March 31, 2024, supported its growth aspirations and kept leverage under check. S&P Global Ratings and Fitch Ratings in separate notes spoke of its EBITDA (loosely known as pre-tax profit) rising in the current fiscal year and next on rising revenue and past investments. "Reliance Industries Ltd's (RIL) strong earnings will keep leverage in check as the company continues to pursue growth ambitions. We expect the company's debt-to-EBITDA ratio to remain commensurate with the rating (BBB+/Stable/--)," S&P said in a note. The oil-to-telecom-and-retail conglomerate's growth aspirations remain intact, it said, adding the company has ramped up investments in the media business in recent months. In 2024, it entered into binding definitive agreements with The Walt Disney Co for a media joint venture in which RIL will invest Rs 11,500 ...

Mukesh Ambani's 67th birthday: Inspirational quotes from the billionaire

The Reliance Industries chairman and managing director Mukesh Ambani was born on April 19, 1957 in Yemen to Dhirubhai Ambani and Kokilaben Ambani and owns total assets worth $113 billion

India has 271 billionaires, Mukesh Ambani is at top of club: Report

Country added 94 new billionaires in 2023, the most for any country after the United States

RIL denies links with Qwik Supply the third largest electoral bond buyer

Qwik Supply Chain Private Limited, a little-known company with registered address at Navi Mumbai's Dhirubhai Ambani Knowledge City (DAKC) and having links to Reliance Industries, was the third largest donor to political parties using electoral bonds. It bought Rs 410 crore of electoral bonds between financial years 2021-22 and 2023-24 but Reliance said the company is not a subsidiary of any Reliance entity. Electoral bond purchases and donations by Qwik Supply were behind Rs 1,368 crore of Future Gaming and Hotel Services - another little-known lottery company - and Rs 966 crore of Hyderabad-based Megha Engineering & Infra, according to information uploaded by the Election Commission on its website. Publicly available information describes Qwik Supply as a manufacturer of warehouses and storage units. The unlisted private company was incorporated on November 9, 2000 with an authorised share capital of Rs 130.99 crore. Its paid-up capital is Rs 129.99 crore. The firm had a revenue .

Jamnagar airport faces huge traffic due to Anant Ambani's pre-wedding bash

The Airports Authority of India (AAI) has permitted the airport to handle international flights from February 26 to March 6

Rihanna rocks the stage at Anant Ambani-Radhika's pre-wedding celebration

In her first performance in India, pop star Rihanna set the stage on fire at the day one of the lavish pre-wedding event of billionaire Mukesh Ambani's son Anant and his fiancee Radhika Merchant. The international music sensation, who belted out hit songs such as "Diamonds", "Where Have You Been", "Rude Boy" and "Pour it Up", had Indian film celebrities like Shah Rukh Khan-Gauri Khan, Ranveer Singh-Deepika Padukone, Shreya Ghoshal and Shiamak Davar grooving to her tunes. Dressed in a shimmering body-hugging fluorescent green and pink outfit, Rihanna put up her best moves and also interacted with the audience at the grand event, which is being held over three days at a residential township situated close to Reliance Industries Ltd (RIL)'s petroleum refinery near Jamnagar city. The 38-year-old singer-songwriter thanked the Ambanis for making her a part of the family affair. "Thanks to the Ambani family I'm here tonight in honour of Anant and Radhika. Thank you for having me here. God

Mark Zuckerberg's Asia tour to range from AI to Ambani wedding party

On Wednesday, Zuckerberg plans to travel to Seoul to meet with partners, the spokesperson said, declining to elaborate further

Reliance, Bodhi Tree discuss 60% stake in Disney India merger talks: Rpts

Under the deal, Viacom18, the broadcast division of Ambani's Reliance Industries will merge with Disney India businesses

Mukesh Ambani re-joins $100 bn club, wealth climbs $2.8 bn to $101.8 bn

The billionaire is the 12th-richest person in the world, ahead of L'Oreal heir Francoise Bettencourt Meyers

Highlights: Ambani, Tata & Adani investment plans dominate Gujarat summit

Catch all the highlights on Vibrant Gujarat Summit 2024 here

Reliance to set up carbon fibre facility in Gujarat, support green growth

Reliance Jio completed the fastest roll-out of 5G infrastructure anywhere in the world

Reliance Industries committed to make new investments in TN: Mukesh Ambani

Reliance Industries has committed to make new investments in Tamil Nadu in the renewable energy space, said its Chairman and Managing Director, Mukesh D Ambani on Sunday. Reliance Industries would also inaugurate its state-of-the-art data centre that has been set up in partnership with Canada-based Brookfield Asset Management and US-based Digital Reality. In his virtual address at the inaugural function of the Global Investors Meet 2024 organised by the Tamil Nadu government, Ambani said, Reliance has proudly partnered in Tamil Nadu's growth over the years. Listing the company's investments in the state, he said, We have opened nearly 1,300 retail stores across the state at an investment of over Rs 25,000 crore. Jio has invested over Rs 35,000 crore in Tamil Nadu, bringing the fruits of digital revolution to 35 million subscribers in every town and village in the state." The video message was played in the presence of Union Commerce Minister Piyush Goyal, Chief Minister M K Stalin

Tata Capital eyes fashion brand Rare Rabbit at $300 mn valuation: Reports

Rare Rabbit was started in 2015 by an Indian family-run company Radhamani Textiles, and sells shirts, jeans, jackets and sneakers that are priced as low as $20 and all the way up to the high-end range

Lack of real-life use cases preventing major telcos from charging for 5G

Telcos are looking for services that fully leverage 5G tech. In the absence of such services, the telcos have no option but to offer 5G services at 4G rates

Ambani's youngest son, Anant, faces proxy firms' pushback on board seat

"A vote against this resolution is warranted as Anant Ambani's limited leadership/board experience of around six years, raises concerns on his potential contribution to the board," ISS said

India's M&A deal value falls to lowest in the last five years, shows data

Deal value falls 69% in first nine months of 2023

HC seeks RIL response on govt's plea accusing firm of siphoning off gas

The Centre had appealed against the single-judge bench order of Delhi High Court on May 9 dismissing its petition

Tata Group needs to find substantial growth, ward off Ambani's Reliance

Tata Consumer Products Ltd., the owner of the Tetley tea brand, was uncomfortable with Haldiram's $10 billion valuation

Reliance Retail total debt up 73%; RRVL expected to continue pumping money

Reliance Retail Limited's debt-to-equity ratio increased from 1.35 in FY22 to 1.91 in FY23

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