Page 19 - Mukesh Ambani

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

Reliance-Jio Financial demerger today: Here's what you need to know

The local stock exchanges will on Thursday hold a special "price discovery" session for the first time ever to determine the value of Jio Financial Services' shares

Creditors approve Reliance Capital infusing Rs 200 cr in insurance arm

Profit-making unit of bankrupt firm has said the capital infusion will increase regulatory comfort

At Rs 19.1 trillion m-cap, RIL creates record; shares touch lifetime high

Shares rise nearly 1% to end at Rs 2,822; from a low of Rs 2,201 in 2023, RIL's stock has added over 28%; gains come ahead of demerger with its financial services arm JioFin

Disney entering Mukesh Ambani's India orbit is a worry for advertisers

Indian advertisers, however, might not be as lucky as Iger, whose contract just got extended by another two years. They may be staring at an erosion of competition

Reliance likely to acquire Alia Bhatt's Ed-a-Mamma for Rs 300-350 crore

An industry executive was quoted as saying that an agreement between Reliance and Ed-a-Mamma is likely to be signed in the next seven to 10 days

Mukesh Ambani richest man in India, Adani at No. 2, check others on list

Mukesh Ambani continues to be the richest person in India, followed by Gautam Adani, as of June 2023. The latest edition of Trendlyne's "Chart of the Week" reveals

RIL sets July 20 as record date for Reliance Strategic Investments demerger

Billionaire Mukesh Ambnai's daughter Isha and former CAG Rajiv Mehrishi are among the directors appointed on the board of demerged financial services unit of Reliance Industries Ltd, the company said on Saturday. Reliance had previously announced plans to demerge its financial services undertaking into Reliance Strategic Investments Limited (RSIL) and rename and list it as Jio Financial Services Limited (JFSL). It will lend to consumers and merchants based on proprietary data analytics and will eventually branch out to insurance, payments, digital broking and asset management. Every Reliance shareholder will get one share of the new firm for every share held in the parent. While the effective date of the demerger has been fixed as July 1, July 20 has been fixed as the record day for allocating shares of the new company, according to the company's stock exchange filing. The spinoff, which will create fifth-largest financier in terms of capital and compete directly with the likes of

NCLT approves demerger of financial services unit of Reliance Industries

Reliance Industries Ltd on Thursday said the National Company Law Tribunal has given its nod to the demerger of the company's financial services undertaking and its listing. Reliance had previously announced plans to demerge its financial services undertaking into Reliance Strategic Investments Limited (RSIL) and rename and list it as Jio Financial Services Limited (JFSL). "We wish to inform you that the National Company Law Tribunal, Mumbai Bench (NCLT), vide its order dated June 28, 2023, has sanctioned the Scheme," it said in a stock exchange filing. It went on to state that the company will now take necessary steps for the demerger. "The company and Reliance Strategic Investments Limited will take necessary steps including fixing the record date for allotment and listing of equity shares of Reliance Strategic Investments Limited," it said without giving timelines for the same. According to brokerage BofA Securities, by separating financial services from the core business, Reli

Looking to export 5G solutions, Jio to reap benefits of Indo-US tech pact

Even before Prime Minister Narendra Modi landed in the US for his official state visit, Jio had submitted details to the government detailing the readiness of its 5G solutions

Local production to ownership: Strict rules of Shein's India re-entry deal

The agreement will require Reliance's retail arm to fully own the domestic business, people familiar with the matter said

Reliance Jio in talks to raise about $1.6 billion for equipment from Nokia

Banks involved in the discussions with billionaire Mukesh Ambani's telecoms company include Citigroup Inc., HSBC Holdings Plc. and JPMorgan Chase & Co., said the people

Musk eager to bring Starlink to India, but faces resistance from Ambani

Following a meeting with Indian Prime Minister Narendra Modi in the U.S. on Tuesday, Musk said he was keen to launch Starlink in India which "can be incredibly helpful" in remote villages

Musk eager to bring satellite broadband 'Starlink' to India, Ambani resists

Starlink is at odds with Reliance over the government's distribution of satellite broadband spectrum, setting the stage for a battle between two of the world's richest men for satellite services

Eyeing expansion, Reliance gets RBI's special approval to raise funds

The money is likely to be used to support the working capital needs of the company besides expansion in energy and telecom businesses