Page 20 - Mukesh Ambani

Reliance may earn $10-15 billion revenue from new energy biz by 2030

Billionaire Mukesh Ambani's Reliance Industries may by 2030 earn USD 10-15 billion from its new energy business spanning solar to hydrogen but will need acquisitions or partnerships to make up for limited expertise in technology, said a report by Sanford C Bernstein. Clean energy (solar, battery, electrolyzers, and fuel cells) represents a new growth pillar for Reliance with USD 2 trillion in investment in India through 2050. India is targeting solar capacity of 280GW and 5 million tonne of green H2 production by 2030. "We expect EV penetration will reach 5 per cent for passenger and commercial vehicles and 21 per cent for two-wheelers. Clean energy could have a TAM (total addressable market) of USD 30 billion in 2030 (USD 10 billion currently). By 2050, "we estimate the TAM could reach USD 200 billion and cumulative spending of USD 2 trillion," the brokerage said in the report. Oil-to-telecom conglomerate Reliance has announced forays into solar manufacturing as well as hydrogen i

Reliance Industries climbs 8 spots on Forbes' Global 2000 list to 45th rank

The Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets, and market value, Forbes said while releasing the 2023 ranking of the world's top 2,000 companies

Akash Ambani, wife Shloka Mehta welcome second child, a baby girl

Akash Ambani, the elder son of billionaire Mukesh Ambani, and his wife Shloka Mehta Ambani on Wednesday welcomed their second child on Wednesday, a baby girl. The couple had their first child Prithvi in December 2020. Dhanraj Nathwani, a friend of the Ambani children and son of family confidant and Rajya Sabha MP Parimal Nathwani, took to Twitter to announce the birth of the girl child. "Heartiest congratulations to Akash and Shloka Ambani on the joyous arrival of their little princess! May this precious blessing bring immense happiness and love to your lives," he tweeted. In November last year, Akash's twin sister Isha and her husband Anand Piramal became parents to twins who were named Krishna and Aadiya. Mukesh Ambani has three children - twins Akash and Isha and younger son Anant. All are now involved with his oil-to-telecom-to-retail conglomerate. While Akash looks after the telecom business, Isha is involved with the retail venture. Anant is looking after the new energy ...

Ambani-backed EV maker aims to raise $85 mn, seeks $359 mn valuation

The company, which counts billionaire Mukesh Ambani among its backers, is seeking a valuation of around $350 million in the new round, said one of the people

Mukesh Ambani joins global business leaders in COP28 Advisory Committee

Mukesh Ambani, Chairman and Managing Director, Reliance Industries, has been appointed as the member of Advisory Committee to the President of the 28th Session of the Conference of the Parties (COP28)

HC upholds tribunal verdict favouring Reliance Industries in gas sale case

Reliance had been accused of 'unjust enrichment of over $1.5 billion' in Bay of Bengal

Mukesh Ambani's RIL has stock analysts most bullish in seven years

The stock is down 3% so far in 2023 compared with a gain of 1.5% in the S&P BSE Sensex Index, hurt in part by a decline in crude prices

RIL gets nod from shareholders, creditors to demerge financial services arm

RSIL will be renamed Jio Financial Services Ltd (JFSL) and RIL shareholders will receive one share of JFSL for each share they own

Weekend Bites: Ambani & Ambani, and old white males

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

Why RIL investors are still unconvinced of Mukesh Ambani's hydrogen foray

Mukesh Ambani's new-energy ambition is even more complex than his telecom foray, which triggered a long period of debt-fueled expansion

User additions help Reliance Jio report 16% rise in Q4 net profit

The average revenue per user (ARPU) during Q4 stood at Rs 178.8. This was 6.7 per cent higher, YoY

Reliance Retail Q4 net profit up 13% to Rs 2,415 crore; finance cost jumps

The business recorded gross revenue of more than Rs 2.60 trillion for FY23, a growth rate of 30% over last year

RIL's initiatives in digital connectivity driving efficiencies: Ambani

Ambani said O2C segment posted its highest-ever operating profit despite global uncertainties and disruptions in commodity trade flows

Hello Mumbai! From CEOs to vada pav, Apple CEO Cook gets a taste of India

Perhaps this is the beginning of not just Tim Cook's India adventure but Apple's as well

Cook's eclectic itineraries: Vada paav with Madhuri; biz meets with Ambanis

Ahead of the opening of Apple's maiden retail store in India, the company's chief executive Tim Cook arrived in the financial capital on Monday. Cook, who has visited India multiple times in the past, is also likely to meet Prime Minister Narendra Modi in New Delhi. On Day one, Cook visited richest Indian Mukesh Ambani's house Antilla for a business meeting and is said to have met other top industrialists, including Tata Sons chairman N Chandrasekaran. Company executives, however, dodged queries on Cook's itineraries during his India tour. On Monday afternoon, Cook himself confirmed his arrival by tweeting a picture with over 100 employees inside the brand's store in BKC business district, which will open for customers on Tuesday. He also managed time to have Wada paav, the much celebrated local snack, with actor Madhuri Dixit at an eatery which is Ambani family's favourite. Cook thanked Dixit for introducing him to the Wada paav at the multi-cuisine joint, terming the food item

Top headlines: Adani row probe, Ambani's plan to take on Netflix, Disney

Business Standard brings you the top headlines at this hour

Mukesh Ambani builds on record cricket views with film, TV offerings

The potential viewership in India, home to 1.4 billion people and with a growing middle class and expanding internet access, is immense. JioCinema drew more than 1.47 billion video views

Jio Platforms gets Rs 350 crore deal to run NIC's cloud services for 5 yrs

Jio has been selected to enhance NIC's national cloud services and will be deployed at the National Data Centre in Delhi, Pune and Bhubaneswar

RIL sets sights on frozen food market, takes another bite at dairy

Move aims at competition with Amul, Mother Dairy

Unfazed by competition from RIL, expect broad-based growth in FY24: GCPL

Godrej Consumer Products Ltd is unfazed by the prospect of competition from Reliance's entry into the FMCG sector, having seen multiple disruptions, including the high-profile entry of Baba Ramdev's Patanjali, according to a top company official. The company is betting on its brand equity, wide range of portfolios and innovations to ward off competition, Godrej Consumer Products Ltd (GCPL) CFO Sameer Shah told PTI. "We have seen multiple disruptions in the FMCG sector. In 2005-06 every one said that modern retail would take the sector by storm with private labels and FMCG players would find it very difficult to compete. After 17-18 years nothing has changed with modern retail play, he said. Shah was responding to a query on how the entry of Reliance in the FMCG segment would change the competitive landscape of the sector. "It's too early to call on, he said adding, We have seen Patanjali a few years back. Five to six years back the expectation was they would take on every FMCG play