Page 19 - Mukesh Ambani

Reliance AGM: Where and how to watch Reliance's 46th annual general meeting

Reliance AGM 2023: Mukesh Ambani, chairman of Reliance Industries, will address the shareholders and talk about the company's past performance as well as further plans

Stake sale, IPO plans for retail units in focus for Ambani's AGM speech

His once-a-year speech to investors - similar to Warren Buffett's annual letters to Berkshire Hathaway shareholders - has over time evolved into an highly anticipated pageant

Jio Financial recovers after hitting lower limit for five sessions

JFS was automatically included in the benchmark Nifty 50 and Sensex indexes due to Reliance's presence, with the plan to remove the stock at the end of Aug 23

Bail formalities completed, ex-cop may walk out of jail in Antilia case

A special NIA court here on Thursday set bail conditions for former policeman Pradeep Sharma, an accused in the Antilia bomb scare case and killing of businessman Mansukh Hiren, and accepted his plea for provisional cash bail. Sharma is likely to walk out of jail on Friday as the formalities for release on bail were complete, his lawyer Subhash Jadhav said. The Supreme Court on Wednesday granted bail to the former 'encounter specialist' officer of Mumbai police. Arrested in June 2021, he is currently lodged at a jail in Pune. The special NIA court, presiding over the Antilia-Hiren case, asked Sharma to submit a personal bond of Rs 25,000 and surety of the same amount. The court also directed Sharma to inform his latest place of residence and mobile contact number to National Investigation Agency, Mumbai in case of any change. On February 25, 2021, an explosives-laden SUV was found near industrialist Mukesh Ambani's residence 'Antilia' in south Mumbai. Businessman Hiren, who was

Jio Financial makes tepid market debut; shares hit 5% lower circuit

Chairman Kamath says to have late-mover advantage

Shares of Ambani's $20 bn Jio Financial Services set to debut in Mumbai

Jio Financial, which as yet boasts of little revenue but owns a 6.1% stake in Reliance, has already announced a partnership with BlackRock Inc. to set up an Indian asset management venture

India's no 2 tycoon Gautam Adani may avoid stepping on Mukesh Ambani's toes

A fresh blow arrived Saturday as Deloitte Haskins & Sells LLP, the auditor of Adani's ports unit, abruptly resigned the same week June quarter results showed record revenue and operating profit

Reliance Jio likely to announce two 5G smartphones at RIL AGM: Details here

Indicating a forthcoming announcement, two Jio smartphones have recently received certifications from Bureau of Indian Standards (BIS)

Mukesh Ambani sells his four-floor $9 million Manhattan residence

The list of Superior Ink's earlier residents includes Hilary Swank, Nascar's Jimmie Johnson, designer Marc Jacobs and billionaire Leslie Alexander

Top headlines: India Inc profit surges 65%, world entering green energy era

Business Standard brings you the top headlines at this hour

World entering a highly disruptive green energy era, says Mukesh Ambani

RIL proposes another 5 yrs for him as MD; Jio Financial listing soon

After retail, telecom, Ambani casts eye on fin services, new energy biz

After creating India's largest retailers and telecom operator in the shortest span of time, billionaire Mukesh Ambani has now set his sight on propelling newly-carved financial services business unit into country's largest non-banking lender while transitioning the conglomerate to net carbon zero by 2035. The recently demerged Jio Financial Services Ltd will leverage the prowess of digital and retail businesses, Ambani said in the latest annual report of Reliance Industries Ltd. The unit, which "will leverage the technological capabilities of Reliance and digitally deliver financial services, democratising access to financial services offering for Indian citizens", is expected to be listed soon, he said. "The demerger of the financial services business into JFS and planned listing on the stock exchanges promises to unlock value." JFS's digital-first approach will help deliver distinctively simple, affordable, innovative and intuitive financial services products to all Indians, the

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 resolution posted to shareholders, Reliance said its Board of Directors on July 21, 2023 approved "re-appointed Mukesh D. Ambani as Managing Director, for a period of 5 years from the expiry of his present term, i.e. with effe

Weekend Bites: Import licences, taxing games, and the Ambani way

In which we munch over the week's platter of news and views

The Ambani way: Can Isha do an encore of what her father did with Jio?

Isha's stab at the bottom of the laptop pyramid shows she is a true Ambani

Reliance jumps 16 places, now at number 88 on Fortune Global 500 list

Billionaire Mukesh Ambani's Reliance Industries has maintained its highest ranking among Indian corporates in the latest Fortune Global 500 list, jumping 16 places to rank at number 88. Reliance was ranked at number 104 in the 2022 ranking and in the 2023 ranking it is placed at number 88, according to the publication. The company has gained a whopping 67 places in the last two years from number 155 in 2021. As many as eight Indian companies feature in this year's Fortune Global 500 ranking. State-owned Indian Oil Corporation (IOC) jumped 48 places to rank at number 94. Life Insurance Corporation of India (LIC) slipped nine places to rank at 107. Oil and Natural Gas Corporation (number 158), Bharat Petroleum Corporation Ltd (number 233), and State Bank of India (number 235) were the other state-owned firms on the list. Tata Motors rose 33 places to rank at number 337 and Rajesh Exports jumped 84 spots to number 353. The ranking of number 88 is the best-ever achieved by Reliance o

Can Jio disrupt the mutual fund business?

While Jio MF will undoubtedly grow in size, it will have to cross multiple hurdles even to emerge as the market leader

SAT quashes Sebi's fine of Rs 25 cr on Mukesh Ambani, Anil Ambani, others

The Securities Appellate Tribunal (SAT) on Friday set aside a Sebi order that imposed a Rs 25 crore penalty on industrialists Mukesh Ambani, Anil Ambani and other entities for non-compliance with takeover norms in Reliance Industries case. The order came after Ambanis appealed in the appellate tribunal against the capital markets regulator's directive. "We find that the appellant has not violated ... the SAST (Substantial Acquisition of Shares and Takeovers) Regulations. The imposition of penalty upon the appellant is without any authority of law. Consequently, the impugned order cannot be sustained and is quashed," the appellate tribunal said in its 124-page order. The case pertains to alleged failure to comply with takeover rules. Noting that the penalty amount following Sebi's order was deposited by the appellants, SAT directed the markets regulator to refund the amount of Rs 25 crore within four weeks. In April 2021, Sebi levied a fine totalling Rs 25 crore on Mukesh Ambani, A

Qatar Investment Authority looking to buy 1% stake in Reliance Retail

QIA is considering a $1 billion investment to buy a 1% stake bringing the valuation of Mukesh Ambani's retail unit to $100 billion

Amazon to bring BBC shows to India as battle with Ambani heats up

From Thursday, Amazon's India-based Prime Video members will be able to watch popular British mainstays including The Great British Bakeoff and Strictly Come Dancing on BBC Player