Page 25 - Mukesh Ambani

Mobile user base dips first time in 7 months, shrinks by 3.6 mn in Sept

Rural India saw subscriptions fall by 3.7 million. Urban barely offset that with a rise of 540,000

Ambani says Indian economy to grow 13-fold to $40 trillion by 2047

India is likely to become a USD 40 trillion economy by 2047 -- a 13-fold jump from its current size -- driven primarily by a clean energy revolution and digitalisation, billionaire Mukesh Ambani said on Tuesday. Ambani's estimate for the Indian economy, currently the fifth largest in the world behind only the US, China, Japan and Germany, is more optimistic than Asia's richest man Gautam Adani, who last week stated that India will become a USD 30 trillion economy by 2050 on back of rising consumption and socio-economic reforms. "From a 3 trillion-dollar economy, India will grow to become a 40 trillion-dollar economy by 2047, ranking among the top three economies of the world," Ambani said at the 10th convocation of Pandit Deendayal Energy University here. As the 'Amrit Kaal' -- the period between now and 2047 when India will be celebrating 100 years of independence -- unfolds, the country will witness an unprecedented explosion in economic growth and opportunities, he asserted. "Th

Indian govt wants solar manufacturers to bid for $2.4 billion in aid

The state-run Solar Energy Corp. of India is seeking bids from solar manufacturers for 195 billion rupees of financial incentives, according to documents published on the agency's website

Mukesh Ambani's daughter Isha, son-in-law Anand Piramal welcome twins

The twins have been named Aadiya and Krishna

LIVE news: Finance Minister to begin pre-budget consultations from Monday

From Amit Shah's scheduled rally in Gujarat to BJP's roadshows across Delhi ahead of MCD polls, catch all the live updates from across the globe here

Mukesh Ambani enters race to buy football club Liverpool, says report

The club has been put up for sale by its current owner FSG, which bought it in October 2010, The Mirror newspaper said

Wealthy Indians buying properties in Dubai, London, NY for better prices

Anuj Puri, chairman of Anarock Property Consultants links wealthy Indians buying abroad to their purchasing power

RIL's logistics foray rides on growing retail print, govt supply-chain push

MMLP near Chennai to be key distribution hub for company in south; firm may bid for more MMLPs across country, say sources

Mukesh Ambani to bid for football club Liverpool FC's takeover: Report

Indian billionaire Mukesh Ambani has entered the race to bid for world-renowned English football club Liverpool FC's takeover, reported a leading English daily. The English Premier League giants have been put up for sale by their current owners Fenway Sports Group (FSG), who bought the Merseyside club in October 2010 and have reportedly appointed Goldman Sachs and Morgan Stanley to assist them in selling the team. According to 'The Mirror', the FSG are willing to sell the club for 4 billion British pound. Ambani, chairman and managing director of Reliance Industries and rated by Forbes as the eighth richest person in the world, has enquired about the club, the English daily reported. Few associated with the Mumbai-headquartered Indian multinational conglomerate, however, could not confirm the development. A statement from FSG read: "There have been a number of recent changes of ownership and rumours of changes in ownership at EPL clubs and inevitably, we are asked regularly about

Reliance set to acquire METRO Cash & Carry India in 500 million euros deal

Reliance Industries is set to acquire German retailer METRO AG's Cash & Carry business in India in a deal estimated at around 500 million euros (Rs 4,060 crore), industry sources said. The deal includes 31 wholesale distribution centres, land banks and other assets owned by METRO Cash & Carry here, they said. This is going to help Reliance Retail, the country's largest retailer, expand its presence in the B2B segment. Discussion between billionaire Mukesh Ambani-led Reliance Industries and METRO was going on for the past few months and last week the German parent firm agreed to the offer from Reliance Retail, they added. When contacted, both METRO and Reliance Industries declined to comment on the development. A Reliance spokesperson said, "Our company evaluates various opportunities on an ongoing basis." METRO AG's spokesperson said, "We do no comment on market rumour or speculations." METRO Cash & Carry's customers include retailers and kirana stores, hotels, restaurants

RIL: Bulls set eyes on Rs 3,500-mark as stock above support held since 2017

Domestic brokerage firm Prabhudas Lilladher, too, lowered its earnings outlook on RIL and trimmed the target price to Rs 2,892

What does demerger of the financial services biz mean for RIL shareholders?

Reliance Industries will demerge its financial services business and list as a separate entity. Will a fast-growing consumer and merchant loan book be enough to impress shareholders? Let's find out

After 5G, here's how Ambani will use financial services to tighten DNA loop

A successful fintech loans platform draws upon what the Bank for International Settlements calls a self-reinforcing "DNA loop," shorthand for data, network and activity

Top Headlines: Rishi Sunak to be UK's next PM, Samvat 2079 stocks & more

Rishi Sunak is set to become Britain's next prime minister as his rivals quit the race, which analysts said, relieved some of the nervousness around the outlook for the UK economy

Reliance Industries to demerge and list financial services business

Shareholders of RIL will receive one equity share of JFS of face value Rs 10 for one fully paid-up equity share of Rs 10 held in RIL.

Windfall tax impact: Reliance net profit flat in Q2 at Rs 13,656 crore

Bottomline misses estimates, net revenue jumps 37.3 per cent YoY to Rs 2.3 trillion; to list financial services arm

Reliance Retail net profit grows 36% in Q2; revenue up 44.5% YoY

Reliance Retail saw its (gross) revenue at Rs 64,920 crore, up 42.9 per cent year-on-year

Windfall tax hits Reliance; Q2 net profit flat at Rs 13,656 crore

Reliance's revenue has jumped 34 per cent to Rs 2.33 trillion

Reliance Capital binding bids submission deadline extended to November 20

Reliance Capital Committee of Creditors (COC) has decided to extend the date of submitting the binding bids from October 31 to November 20

Top headlines: CCI penalty on Google, funding winter for startups, and more

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